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​Property Report December 1999

December 1999

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      Specialists      

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Specialise. Do one thing and do it very well. At Wetherell we specialise in Mayfair residential property.


It is the only area we specialise in, so whilst our competitors try to be all things to all people, we continue to be what we set out to be – the Estate Agents for the residential community of Mayfair.


At Wetherell our advice is based upon our extensive knowledge of the area together with a forward-looking approach and a distinct marketing flair.


The service is personal and professional – we are not constrained by corporate bureaucracy; our independent approach combined with an entrepreneurial spirit produces continued results for our clients.


Our success has been achieved by placing the requirements and interests of each client ahead of our own and our reward is that over 50% off our business emanates from previous clients.


To find out why our dictum is We Sell Well then visit our office.







 
Charles Street
Charles Street




Charles Street, Mayfair W.1
Third floor flat in period building off Berkeley Square.
Reception Room, Two Bedrooms, En Suite Shower Room, Bathroom, Kitchen.

Selling Agents Wetherell
£485,000
 







Mount Street
Mount Street



Mount Street, Mayfair W.1
First floor period apartment in Mayfair Village’s High Street.
Reception Room, Two Bedrooms, En Suite Bathroom, Shower Room, Kitchen.

Sole Agents Wetherell
£485,000








Hill Street, Mayfair W.1
Refurbished flat in portered block.
Reception Room, Two Bedrooms, En Suite Bathroom, Shower Room, Kitchen.

Selling Agents Wetherell
£385,000




Hill Street
Hill Street
Upper Brook Street




Upper Brook Street, Mayfair W.1
Two stunning flats for rental, newly refurbished and interior decorated throughout.
Flat 1, offers a beautiful patio garden. Reception Room, Dining Room, Kitchen, Three Bedroom Suites and a Guest Cloakroom.
Available unfurnished for a long let. £1850 per week

Flat 3, offers elegant rooms for entertaining. Reception Room, Dining Room, Kitchen, Three Bedrooms, Two Bathrooms (one en-suite) and a Guest Cloakroom.
Available unfurnished for a long let. £1700 per week.




 



Market Comment


Mayfair has seen a dramatic change during the last ten years; the availability of flats and houses created from office buildings has resulted in the return of ‘Mayfair Village’ and a community of full time residents. Various events during 1999 will have a long lasting impact on the residential property market in Mayfair, which will benefit all who enjoy living in this unique area of London, where even as the 21st century approaches, history is never far away.

Sellers Packs

In the recent Queens Speech to Parliament, it was announced that the government will introduce ‘sellers packs’. Designed to speed up the house buying process, as reported in our January Update, it essentially means that vendors, with their agents and/or solicitors, will have to ensure that a ready package of documents is available to a purchaser once sale terms have been agreed.

Residential Leases

With ongoing changes to residential reform Mayfair landlords are taking a pro-active step to assist their tenants.
There are a number of residents on the Grosvenor Estate who do not have any rights to extend their lease under the Leasehold Reform, Housing & Urban Development Act 1993. To overcome this, the Grosvenor Estate has devised a method whereby a new, over riding lease is granted to the tenant to run concurrently with their existing lease; when the existing lease expires, the new lease comes into force.
Ropemaker Properties (‘the BP Estate’) are disposing of many of their residential freehold interests. Leaseholders of houses have been acquiring their freeholds and flat dwellers are being offered the opportunity to collectively buy their freeholds.
With increasingly more freehold or long lease properties available, vendors and buyers will benefit alike and the perception of Mayfair as a short lease area will diminish.






 



Jubilee Line

The Jubilee Line extension from Bond Street and Green Park to Canary Wharf and beyond is providing access to the new major commercial district of London. With the existing links to The City and Heathrow, Mayfair is now the most accessible area of London that can offer a lifestyle of discernable quality.

Values


As with other ‘AAA rated’ areas of London, Mayfair has seen some dramatic price rises during the last 12 months. More and more people are discovering Mayfair, but as the majority of buyers are already resident in the area, demand is increasingly outstripping supply and the effect on prices is all too obvious.
As we approach the 21st century, Wetherell believe the rise of Mayfair will continue unabated (the number of properties sold this year increased 63% compared to 1998).


 
Wetherell

WISH ALL THEIR
 
PAST & PRESENT
 
CLIENTS A



   Merry Christmas   
 

 
Happy New Year






NAEA

Wetherell


Mayfair’s Leading Estate Agent


Tel: 0207-493 6935     Fax: 0207-629 9303

Ombudsman Scheme

          Joyeux Noel          


No.40 102, Mount Street, Mayfair, London W1Y 5HF DECEMBER 1999


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