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​Property Report January 2002

January 2002

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Mayfair's Finest Properties    

Broadbent Street


Exquisite Flat with Charm

BROADBENT STREET, MAYFAIR W1

Drawing Room, Dining Room, Kitchen, Master Bedroom with En Suite
Bathroom, Bedroom Two/Sitting Room, Shower Room.


£650,000

Sole Agents
 







Balfour Mews



Park Street



Mews Maisonette with Terrace

BALFOUR MEWS, MAYFAIR W1

Double Reception Room, Kitchen,
Master Bedroom with En Suite Bathroom,
Bedroom Two, Shower Room,
Guest Cloakroom, Roof Terrace.




£695,000

Selling Agents





Mayfair’s Secret Garden

PARK STREET, MAYFAIR W1

An Immaculate Two
Bedroom Apartment
with access to
Mayfair’s Secret Garden.




£775,000

Sole Agents





 
Mayfair Update
 

 


2001 Highlights  

Bolton Street
£5.5M development of nine flats
sold at a headline rate of £735 per
square foot (£p.s.f.)

Berkeley Street
£7.5M break up of eighteen former
letting flats. 1/2 & 3 bedrooms at
a headline rate of £665 p.s.f.

Berkeley Street
£6M refurbishment of thirteen
apartments sold at a headline rate
of £653 p.s.f.

Mount Street
£4.5M sale of a prominent corner
building, formerly offices, for
conversion back to 6 residential
units

Park Street
A refurbishment of a former letting
building back to three residential
units. Finished to a high standard
and achieving a headline rate of
£786 p.s.f.

Brook Street/Davies Street
The sale of the former estate
offices of Grosvenor. Two buildings
in a £5M deal as a serviced office
suite headquarters and three
Georgian buildings reverting back
to individual houses in a £8.5M
sale.

St James’s
A new £3.25M development of 6
flats sold at a headline rate of
£776 p.s.f.

Upper Brook Street
The first two sales in a £17M
development. Finished to the
highest standard seen in Mayfair
and achieving £1,000 p.s.f.

Berkeley Castle
“A Shooting Lodge“ in the middle
of Mayfair! A hidden character
Gothic house with oak panelling
and roof terrace, marketed on a
new 99 year lease at £1.75M

Hill Street
A newly refurbished penthouse on
three floors sold at £2M equating
to £888 p.s.f.










































 
Header


The year 2001 was a good year for residential Mayfair with Wetherell bringing to the market various buildings that resulted in nearly 60 new homes sold on long leases.
A £5.5m development of nine flats in Bolton Street, off Curzon Street and close to the Mirabelle sold out very quickly due to its modern style and high specification of finish. This was reflected at the value achieved at £735 per square foot.
Mayfair is now seeing a standard of development comparable to the other prime areas of central London, with developers now offering what the market wants! This has been reflected in values rising considerably.
At the end of last year Wetherell and Knight Frank launched Mayfair’s finest development of apartments in Upper Brook Street, located just up from Le Gavroche restaurant. Three out of the four apartments in the launch of the first stage are either sold or under offer at £1,000 per square foot, showing that quality always sells.
The house market has also been quite active with end of year sales on two freehold houses at around £2.5M each and both with garaging.




TWO NEW HOUSES

Soon to be finished are two houses in Culross Street, off Park Lane, each with garaging, lift, air conditioning and garden. Each house is available at £2.95M for the 99 year lease.

 

Wetherell are also marketing for Grosvenor a “hidden house” off Upper Brook Street, requiring modernisation at £2M, with access to private gardens.


Upper Brook Street
Upper Brook Street, Mayfair’s finest development for finish and value at £1,000 p.s.f.

2002 PREDICTION

Wetherell see an active year ahead for 2002. Mayfair is still cheaper than Belgravia so buy now while stocks last! The market is on the move again!
Vendor’s are realistic, buyers are now actively back in the market after the lull of the last quarter of 2001, interest rates are low and at the time of writing the Stock Market is stable!


Try before you buy

The rental market has been extremely busy since the tragic events of September 11th with some people obviously more cautious and opting for a years rent instead of an outright purchase. A number of our clients have also taken the decision to offer their properties as “Available“ for rent or purchase, giving the tenant the opportunity to “try before they buy“!
January is seasonally a time when new stock comes available with previous tenants checking out over the

 

Christmas period. Wetherell Lettings, have two superb flats for rental in one of Mount Street’s most prestigious terracotta residential blocks.
The three bedroom flat consists of a good-sized reception with a kitchen and two bathrooms and is offered at £700 per week. The two bedroom flat consists of reception room, kitchen and bathroom at £550 per week.
Both flats are fully furnished, very comfortable and ideally located. They have the added and unusual advantage of having a daily cleaning service included in the price.

Call one of our direct Lettings lines on 020 7529 5571 for further details.







NAEA
 
 





Mayfair’s Leading Estate Agent

Wetherell

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We sell well


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No.64 102, Mount Street, Mayfair, London W1K 2TH JANUARY 2002



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