Property Report December 2000
St James’s Place,
St James’s S.W.1
In this exclusive location a first and
second floor apartment with
outstanding views of Green Park.
Two Reception Rooms, Kitchen/
Breakfast Room, Three Bedrooms,
Three Bathrooms, Guest Cloakroom,
Secure Underground Parking,
Lift and Porter.
Selling Agents: Wetherell
South Street, Mayfair W.1
A first floor apartment in Mayfair village’s mansion block refurbished to a high specification including comfort cooling, multi room HiFi, hand made maple kitchen and marble bathrooms.
Double Reception Room, Kitchen/Breakfast Room, Three Bedrooms, Three Bathrooms, Lift and 24 hour Porterage.
Joint Sole Agents:
Farm Street, Mayfair W.1
A recently improved freehold house
in one of Mayfair’s most sought after
streets, featuring a south facing roof
terrace, lift and comfort cooling.
Three Reception Rooms, Kitchen/
Breakfast Room, Six Bedrooms,
Sole Agents: Wetherell
Hill Street, Mayfair W.1
Occupying the top three floors of this handsome
period building off Berkeley Square, a family
apartment with a 130 square foot roof terrace.
Reception Room, Kitchen/Breakfast Room,
Four Bedrooms, Three Bathrooms, Lift.
Joint Sole Agents: DTZ Residential/Wetherell
Bolton Street, Mayfair W.1
One of nine apartments for sale in this
newly constructed development behind
a Grade II listed facade, a fourth and
fifth floor duplex with direct lift access.
Reception Rooms, Kitchen/Breakfast Room, Two Bedroom Suites, Guest Cloakroom.
Joint Sole Agents: Blenheim Bishop/Wetherell
overlooking the Square
from the first floor
Reception Room, Kitchen/
Breakfast Room, Two
Bedroom Suites, Guest
Cloakroom, Separate Stuff Studio Flat, Lift and Porter.
Sole Agents: Wetherell
Price on Application
A major initiative in the Queen’s speech will radically change the way buyers and sellers transact their sales in the near future.
Seller’s Information Pack
We currently have the most inefficient system of property conveyancing due to the time lag between an offer being made and exchange of contracts being effected. 28% of all transactions fall through before the deal is signed. Another constant complaint of the English sales system has been the re-emergence of “gazumping”, due the time delay between deal arranged and exchanged.
Peter Wetherell, Managing Director of Wetherell and also Chairman of the National Association of Estate Agents Central London Branch, recently held a lunch for the Housing Minister, Nick Raynsford to talk about the government’s results of the Seller’s Pack pilot scheme in Bristol. The Seller’s Pack is expected to become law in 2003 and will require the vendor to prepare all aspects of information required for the sale prior to placing the property on the market. Mr Raynsford told Peter Wetherell that “a key part of the package of government proposals aimed at making the home buying process easier, faster, more transparent and consumer friendly, and more certain”.
The Seller’s Pack proposals will not be such a major change for central London agents, as we tend to ask for copies of leases, service charge provisions and advise solicitors to undertake searches prior to placing the property on the market. However the most dramatic proposal is the preparation of the survey to be supplied by the vendor.
The latest results from the Land Registry, makes interesting reading for both the national figures and central London. Sales volume for the three months July – September 2000 in England & Wales shows 239,114 sales down from 258,263 in July – Sept 1999. But sales volume at the top end of the market, £1million+, was up by over 50%. There were 58 sales in the City of Westminster over £1m, but Kensington & Chelsea leaped ahead with 105 sales!
The Mayfair market at present is starved of a good property, in volume, so those for sale are achieving substantial prices. Prime property in Mayfair has risen 25% over the last 2 years with prices still lower than other prime areas of central London.
LAST REMAINING PENTHOUSE FOR SALE
ST. JAMES’S MOST STUNNING DEVELOPMENT
|No.51||102, Mount Street, Mayfair, London W1Y 5HF||DECEMBER 2000|