Property Report August 2002
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| Freehold Period Townhouse|
with Cool & Calm Contemporary Interior
CHESTERFIELD HILL, MAYFAIR W1
Drawing Room, Open Plan Kitchen/Dining Room,
Top Floor Studio Room (Formerly Two Bedrooms
and Bathroom), Three Bedrooms, Two Bathrooms
(One En Suite), Guest Cloakroom, Staff Room
With Shower Room, Utility Room, Cellars.
| Refurbished Apartment in Premier Garden|
Square with Extended Lease
GROSVENOR SQUARE, MAYFAIR W1
Three Reception Rooms, Kitchen,
Three Bedrooms, Two Bathrooms
(One En Suite), Guest Cloakroom,
Lift, 24-Hour Porterage,
125 year lease.
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MARKET REPORT –
MAYFAIR STILL STRONG
Sales continue during the “summer recess”! The 3 bedroom penthouse at One Carlos Place has been sold for full asking price (£1.85m) and a two bedroom, 3rd floor walk-up in South Audley Street is under offer on an asking price of £525,000 for a 37 year lease.
SPEED OF SALES – SPEEDY SALE
POSSIBLE BUT 4 MONTH AVERAGE!
Our database indicates that 20 properties have sold since the beginning of July from a short lease 2 bedroom flat off Berkeley Square @ £295,000 to a split level penthouse overlooking Green Park @ £8.5 million. It is interesting to note that one house sale in Hill Street @ £2.5 million had been on the market since October 1997 but a duplex penthouse overlooking Berkeley Square achieved a record price after being on the market for only 2 months! Thirteen of the properties sold were placed on the market during 2001.
PARK LANE PLACE – RECORD SPEED
OF SALES AT RECORD PRICES
Over the last 6 weeks we have exchanged contracts on 80% of the flats in this luxury development on Park Lane amounting to nearly £20m at average values over £1,000 per square foot (p.s.f.) and headline rate at £1,250 p.s.f. Currently 3 flats are under offer with 2 remaining.
Visit the website at www.parklaneplace.co.uk