Property Report August 2001
Prime investment in prime location
KING STREET, ST. JAMES’S SW1
Three Reception Rooms, Three Bedrooms Suites, Kitchen, Utility Room, Porter.
Joint Sole Agents: Hamptons/Wetherells
| || |
| Skyline views from seventh floor flat|
GROSVENOR HILL COURT,
Double Reception Room, Master Bedroom
with En Suite Bathroom, Two Further
Bedrooms, Bathroom, Kitchen, Lift, Porter.
| Portered flat in prestige block|
Double Reception Room, Two Bedrooms,
En Suite Bathroom, Shower Room,
Kitchen, Lift, Porter.
Central Zone Parking Policy
The Mayor of London, Ken Livingstone, has proposed a congestion charge for car drivers entering central London. The intention is that between 7am and 7pm, Monday to Friday, drivers entering the central zone (which includes Mayfair) will be charged £5, although residents within the zone will receive a 90% discount.
With Park Lane forming a boundary to the charging zone the environment around the roads leading into Mayfair (Green Street, Upper Brook Street, Mount Street etc.) will improve as they experience less traffic and demand for properties within Mayfair with exclusive car parking, which already command a premium, will be enhanced; the options will be to pay the £5 ‘entry fee’ or park in, for example, the Park Lane car park at a daily cost of approximately £16.
Given the age of most properties in Mayfair, garaging was not a consideration when they were constructed and so are now very sought after. Such properties would experience greater demand, as drivers will seek a safe environment for their vehicles when in Mayfair and rely on taxis, which will be exempt from the congestion charge.
Wetherell do however have a mews house for sale, where parking for up to three or four cars is available. Completely refurbished, the house features a large reception room opening onto a terrace, comfort cooling and is for sale with a 95 year lease at £2.1m.
Summer Sales – Time to Buy
August does to Mayfair what Ken’s cameras will hopefully do all year round, create a much quieter and calmer ambiance. With so many people away the question is not “wether it is the time to buy” rather, “have you got the time to buy!”. For those who wish to be contra cyclical now is the time if you can find what you want. There are few properties available at present but many of them are of great quality.
Overlooking Mount Street Gardens
Private Terrace of Berkeley Street
Mayfair’s Leading Estate Agent
|No.59||102, Mount Street, Mayfair, London W1K 2TH||AUGUST 2001|