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​Property Report October 1998

October 1998

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      October Opportunities


Farm Street, Mayfair W.1    



A freehold Mayfair townhouse in exceptional condition with air conditioning, roof terrace and lift to all floors.
Drawing Room, Dining Room, Morning Room, Kitchen/Breakfast Room, Master Bedroom with En Suite Bathroom, Guest Bedroom with En Suite Bathroom, Two further Bedrooms, Bathroom. Self contained staff accommodation comprising two bedrooms and bathrooms. Air conditioning, roof terrace, lift to all floors.



£3,450,000


Joint Sole Agents
Egerton 0171-493 0676
Wetherell 0171-493 6935





    Farm Street
Culross Street




Culross Street, Mayfair W.1


Beautifully refurbished non-
basement Freehold house
with roof terrace, in this pretty
residential street.



Drawing Room, Dining Room/
Family Room, Kitchen/Breakfast
Room, Master Bedroom with En
Suite Bathroom. Three further
Bedrooms, Bathroom, Shower
Room, Two staff rooms and
bathroom.








£1,450,000
Sole Agents
 
 
View






Grosvenor Square, Mayfair W.1    



Three apartments available in London’s premier garden square.




   
Grand second floor apartment with views of square, for sale with new 99 year lease.
Drawing Room, Dining Room, Kitchen/Breakfast Room, Master Bedroom with En Suite Bathroom, Four further Bedrooms, Two further Bathrooms. Staff Suite of Bedroom and Bathroom. Lift and porterage.



£3,500,000


Joint Sole Agents
Foxtons 0171-973 2000
Wetherell 0171-493 6935



   
Second floor apartment with underground parking space.
Drawing Room, Dining Room, Kitchen, Master Bedroom with En Suite Bathroom, Bedroom Two, Bathroom, Bedroom Three/Dressing Room. Lift and porterage.



£650,000


Joint Sole Agents
Beauchamp Estates
0171-499 7722
Wetherell 0171-493 6935




   
Second floor apartment with views over the square.
Drawing Room, Dining Room, Kitchen, Three Bedrooms, Three Bathrooms, Cloakroom. Lift and porterage. Available for long let, furnished.



£2,000 per week

Sole Agents

   

 
      Grosvenor Square

October Update


Autumn Fall?



‘How is the market?’ is something agents are always asked and it is something we are hearing with greater frequency, given the volatility of the financial markets. A drop in interest rates always pleases agents and the latest reduction, whilst anticipated, can only be beneficial.

Our latest research suggests that confidence is not on the wane – during the last month in Mayfair, 22 new properties came up for sale (there are currently 128 properties for sale compared to 80 in March), with 11 properties going under contract, an increase on the last few months.

We have not experienced any recent sales not proceeding because the purchaser having cold feet about the market withdraws from the sale, nor any purchaser revising their offers before exchange, always an indicator of public perception about the market. On the contrary, some properties for sale are still going to ‘best bids’.





 


Graph
 

Graph
 


The two graphs show, on the left, sales in Mayfair and on the right the number of properties new to the market each month. The correlation between the availability of property and the number of sales is evident, so if the supply of properties continue then sales should continue apace.
Even if the rate of growth slows, it is not a falling market.

Quality of Life



With the increasing availability of freeholds and long leases, plus the quality of life in the area, Mayfair property values seem inordinately undervalued compared with other prime central areas of London.



NAEA


Wetherell


Mayfair’s Leading Estate Agents


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

We sell well

Ombudsman Scheme

No.28 102, Mount Street, Mayfair, London W1Y 5HF OCTOBER 1998




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