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​Property Report January 2001

January 2001

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Wetherell 1 n. Mayfair’s leading estate agent. Last year, Wetherell were involved in the sale of 26% of all the flats and houses sold in Mayfair & St. James’s, totalling some £60m.

2 v. bringing residential life back to Mayfair. Last year Wetherell were instrumental in bringing 5 buildings to the market, totalling 57 homes, which were not previously available in the sales market. In addition, Wetherell were appointed by Grosvenor to act jointly in the disposal of their former offices in Brook Street & Davies Street comprising ten buildings, seven of which are reverting back to residential use.

Overview 2000

Peter Wetherell, who has specialised in the Mayfair market for over 25 years, gives an upbeat overview of the year 2000. “We achieved many goals this year and broke a few records for selling prices. Our biggest house sale was for just under £7 million in Green Street, with swimming pool and conservatory. Sales of the six new duplex penthouses and apartments in Carlton Gardens in St James’s achieved over £1,200 per square foot for 2 bedrooms, between £2.75 – £3.5 million and a freehold house behind the American Embassy sold for £3 million.”

72 New homes created in Mayfair

The trend for the reversion of former offices back to their original residential use continued in 2000 and was joined by a new trend for the reversion of former short let blocks of flats back to long term occupation. Again Wetherell comments “We brought to the market 5 former short let blocks totalling 57 homes and were appointed by Grosvenor in the disposal of their former offices in Brook Street and Davies Street. Of these 10 buildings, seven are reverting back to residential use providing another 15 homes.

Growth Prediction for 2001

Over the last year we have sold and exchanged on about £80 million worth of property in Mayfair & St James’s. We are very optimistic about the year ahead as we see Mayfair as one of the only areas in central London were you will still see dramatic price growth in 2001.

E-Mail or Snail-Mail?

25% of our clients received at the beginning of the year our report on the market by e-mail, with links to various properties, exampled below;

28 Hill Street, Mayfair W1 @ 2.175m

The first property is a newly refurbished triplex penthouse just off Berkeley Square, featuring a roof terrace for “al fresco” dining. 4 bedrooms with G.I.A. of 2,252 sq.ft. on a 140 year lease @ £2.175m



Flat 8, 51 South Street, Mayfair W1 @ £1.835m

This is a superb split level apartment situated on the first floor of a mansion block, featuring a south facing double reception room of 34 feet. 3 bedroom suites with G.I.A. of 2,101 sq.ft. on a 973 year lease @ £1.835m



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