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​Property Report January 1998

January 1998

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January Jewels

South Audley Street


South Audley Street,
Mayfair W1


A stunning two bedroom, two reception
maisonette in a restored period building.
Available furnished for six months.


£700 per week


A large studio apartment with eat-in kitchen
and bathroom.
Available furnished for six months.


£300 per week
or Freehold for sale




MAYFAIR MARKET REPORT FOR 1997


Wetherell have just completed their research for residential market in Mayfair during 1997 showing that some 172 properties sold with a total value of £138 million.


Mayfair houses accounted for 26% of properties sold, with a total value of £75 million. Wetherell were involved in the sale of over half of all houses sold and believe that this is a reflection of our experience in this highly specialised field, having reverted so many office buildings back to their original residential use.

Flats in Mayfair have also had a good year, with prices achieved in Mayfair now showing comparisons with other prime residential areas of London – exceptional apartments set record prices. Wetherell have sold three penthouses at Fountain House on Park Lane, which were marketed at £1,000 per square foot, a record for “International Mayfair” values. “Mayfair Village” the heart of residential Mayfair achieved £500 – £600 per square foot and “Mayfair Town” towards Regent Street between £300 – £400 per square foot.


After great demand from clients, Wetherell’s rental department opened in early 1997 and now has a portfolio of some 100 long-term properties and 400 short-term properties. There is currently a shortage of quality stock and those that become available rent extremely quickly to both individual and corporate clients. One bedroom flats rent from £450 to £700 per week, two bedroom flats rent from £550 to £1,200 per week and houses from £900 to £3,000 per week.
If the shortage of properties for sale and rent throughout 1997 is continued next year, exemplary sales prices may be achieved again, although an average price increase throughout 1997 of approximately 20% may be hard to sustain in 1998.

RENTALS


Waverton Street, Mayfair, W1
A newly refurbished house with garage. One bedroom, reception, kitchen, bathroom.
Available unfurnished for a long let. £575 per week.

Woods Mews, Mayfair, W1
A newly refurbished maisonette. Two bedrooms, two bathrooms, reception, kitchen.
Available unfurnished for a long let. £1,200 per week.

Reeves Mews, Mayfair, W1
A first floor flat with stunning roof garden. Three bedrooms, three bathrooms, double reception, kitchen, entrance hall, lift.
Available unfurnished for a long let. £1,500 per week.

Bayswater, London, W2
A third floor flat in an impressive portered building. Five bedrooms, four reception rooms, kitchen.
Available unfurnished for a long let. £1,800 per week.

Mount Street, Mayfair, W1
A second floor flat with views over Berkeley Square. Four bedrooms, Double reception, kitchen.
Available unfurnished for a long let. £1,850 per week.









Shepherd Street


Shepherd Street, Mayfair W1

Refurbished freehold mews house
Reception Room, Kitchen/Breakfast Room, Master Bedroom with en suite Bathroom, Two further Bedrooms, Bathroom.


£675,000



Hill Street



Hill Street, Mayfair W1


Modern apartment with underground parking
Double Reception Room, Three Bedrooms, Two en-suite Bathrooms, Family Bathroom, Kitchen, Garage Space, Porterage.


£495,000




NAEA

Wetherell


Mayfair’s Leading Estate Agents


Tel: 0171-493 6935     Fax: 0171-629 9303

We sell well

Ombudsman Scheme

No.19 102, Mount Street, Mayfair, London W1Y 5HF JANUARY 1998




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