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​Property Report December 2000

December 2000

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Christmas Presents in Mayfair     

St James's Place

                 

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
£3,400,000




       
South Street






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:
DTZ Residential/Wetherell

£1,835,000

                  






      Farm Street

                 

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,
Five Bathrooms.



Sole Agents: Wetherell
£3,600,000





 
Hill Street
     South Street       
Grosvenor Square
    
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
£2,175,000




 
 
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
£1,150,000





     
 
Bolton Street

                    

Grosvenor Square,
Mayfair W.1


An immaculately
refurbished apartment
overlooking the Square
from the first floor
reception room.




Reception Room, Kitchen/
Breakfast Room, Two
Bedroom Suites, Guest
Cloakroom, Separate Stuff Studio Flat, Lift and Porter.




Sole Agents: Wetherell
Price on Application





Major Changes for Market


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.



Sales Volume

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!

Mayfair Market

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.
Mayfair is still a growth area for capital appreciation.

ANNOUNCEMENT


LAST REMAINING PENTHOUSE FOR SALE

ST. JAMES’S MOST STUNNING DEVELOPMENT
£2.75 MILLION


STUNNING ROOF TERRACE * GARAGING * SECURITY
PRIVATE COMMUNAL GARDENS



CALL SALES DEPARTMENT 020 7493 6935






NAEA


Wetherell


Mayfair’s Leading Estate Agent


Tel: 020-7493 6935     Fax: 020-7629 9303

We sell well

Ombudsman Scheme

No.51 102, Mount Street, Mayfair, London W1Y 5HF DECEMBER 2000


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