History

Peter Wetherell

has specialised in the Mayfair Area for over 30 years
and acts for Grosvenor in giving valuation and development
advice on their Mayfair Estate.

Mayfair the grand parallelogram is geographically bounded and cannot spread its boundaries.

The building in Mayfair commenced in the 1660s with the construction of three great mansions in Piccadilly. By 1686 the Bond Street development was completed and early in the 18th century development took place in New Bond Street and the Hanover Square area.

The development of the "100 acres" in Grosvenor Square was a natural follow on and helped satisfy the ever growing demands of the wealthy. In 1720, Sir Richard Grosvenor drew up plans for the new Mayfair Estate, designed on a grid of wide straight streets with a grand "place" at the centre. Based initially on eleven principal streets these were added to as the Estate developed into what is now recognised as one of the world’s premier locations.

Today Mayfair is a cosmopolitan mix of residential occupiers, corporate headquarter buildings, specialist businesses, restaurants, hotels, shops and embassies.

The greatest of all Regency wits, Sydney Smith (1771 – 1845) once described the parallelogram bounded by Park Lane, Oxford Street, Regent Street and Piccadilly as "containing more intelligence and human ability – to say nothing of wealth and beauty – than the world has ever collected in one space before."

The 1990s in Mayfair will be remembered as the decade when the residential atmosphere returned to the area with fine period buildings occupied as offices for fifty years reverting back to their original use as residential houses, maisonettes and flats.

The trend has continued into the 21st century whereby forward thinking developers and designers are creating new buildings and refurbishments of existing buildings, which satisfy the demands of an evermore discerning and demanding international market.

Residential Mayfair today is a vibrant but low profile mix of substantial Mayfair mansion houses, spacious period maisonettes, Georgian townhouses, portered apartment blocks and flat conversions.

Mayfair values are always dictated by supply and demand whereby discerning purchasers are prepared to wait for the right property. The volume of property for sale is always very small.

The area therefore offers a unique investment opportunity for those discerning purchasers who wish not only to buy in Mayfair, but into London’s finest address.

 

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WETHERELL 102 Mount Street, London W1K 2TH 020 7493 6935