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South Audley Street A spacious second floor flat in a well known period building. Entrance Hall, Kitchen, Reception Room, Two Bedrooms, One Bathroom. Available for a long let a £500 per week unfurnished |
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Woods Mews A superb one bedroom apartment on the second floor of this recently built residential mews development. Entrance Hall, Kitchen, Reception Room, One Bedroom, One Bathroom. Available for a long let at £500 per week furnished |
Mount Street A luxurious second floor flat in the heart of Mayfair. Entrance Hall, Eat-In Kitchen, Reception Room, One Bedroom, One Bathroom. Available for a long let at £600 per week furnished |
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Rentals had a slower start to the year than 1999, affecting the lower and middle rental market. This was mainly due to heavy investor buying, however this has not affected the quality flats and houses coming to the market and the continuing supply of blue chip corporate and private tenants looking to rent. |
Tenants have had the pick of the market and are opting for newly refurbished apartments wherever possible. Properties that have been refurbished with stainless steel kitchens, wooden floors, neutral colours and generally on an unfurnished basis will always rent quickly. Older properties are not being considered. |
 Elegance and style close to Mark's Club and Berkeley Sq in the heart of Mayfair. A Charles Street flat of 2 Bedrooms for £650 p.w. |
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WANTED: WE ARE URGENTLY SEEKING TWO, FURNISHED, THREE BEDROOM FLATS. TO RENT FOR MINIMUM OF 1 YEAR PLEASE CALL JULIE MAY OR BROOKE EDWARDS ON 020 7529 5571 |
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Wetherell have just been instructed on a fabulous light and spacious, refurbished flat in Upper Brook Street, finished in a contemporary fashion. The flat has wooden floors throughout, a 25' x 15' reception room, two bedrooms, lift and |
porterage at £875 per week (unfurnished). Also new to the rental market is an exceptional house on Park Street, offering three bedrooms, two reception rooms with a self contained studio flat and fabulous decked roof terrrace with |
views down to Hyde Park. This house is offered on a furnished basis, at £1600 per week. Call 020 7529 5571 Reference JEM.  A fabulous period house with roof terrace in Park Street for £1600 p.w. |
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With the Summer months approaching, the short term letting market is upon us. Many people coming to London prefer the independence and privacy of a residential apartment compared to a hotel suite. |
To fulfill this specialist market, Wetherell's active lettings department have a large number of luxurious apartments within Mayfair, available for rent on a weekly or monthly basis, some offering maid service. |
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WETHERELL ARE MAYFAIR'S LEADING AGENT SPECIALISING IN THE SALE, ACQUISITION AND LETTING OF RESIDENTIAL PROPERTY IN MAYFAIR & ST. JAMES'S |
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Stamp Duty Relief
With an increase of just 1/2% on the middle and top bands, the chancellor's budget dit not impose draconian rises in stamp duty to cool down the housing market, as everybody feared. Together with the Bank of England Monetary Policy Committee deciding to leave interest rates unchanged at 6%, the market can breathe a sigh of relief and look forward to further sustainable growth. Beat the Budget SalesNotable recent houses sales (asking prices in brackets) include a hidden house with swimming pool in Upper Brook Street (£3,5m), a period town house with connecting mews in Charles Street (£8m), a handsome freehold corner house off Park Lane (2.95m), a substantial house of 7,500 square feet in South Street (£5.5m) and a freehold house in Farm Street (£2.95m).
Of the above houses that were in good condition the average equivalent freehold rate was £751 per square foot. Those houses in need of updating (assuming freehold) achieved in excess of £550 per square foot. In Carlton Gardens, St James's, 50% of these exceptional apartments have already sold (£3m - £3.65m), which have achieved in excess of £1,000 per square foot for 2 and 3 bedroom flats.
Flats at the soon to be released 1 Carlos Place development are based upon an average asking price of £733 per square foot and the response to initial marketing has resulted in a number of sales already being agreed. The Iceberg EffectWith the demand from buyers still very strong and an increasing number of properties being offered for sale discreetly, more properties are being sold 'off the market'; that is they are being sold before they are formally marketed and advertised.
As a result the public only get to see the top of the iceberg and decide not to sell as they think that they will not be able to find anything to buy. However, the cartoon below sums up the current state of the market. As the public only see the top of the iceberg, Wetherell have achieved some top prices for their clients. New LaunchesWetherell are arranging the imminent launch of a number of apartment blocks in addition to 1 Carlos Place previously mentioned. In Bolton Street, nine 1 and 2 bedroom flats have been newly constructed behind the listed period facade and off Berkeley Square, 18 flats will be available for sale on new 999 year leases. |
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Also for sale on a "virtual freehold" basis will be a 2,800 square foot mews house designed by the world renowned minimalist architect John Pawson - with the option of buying it's smaller sibling next door as well. Finally, Wetherell are bringing to the market a three bedroom flat in Hill Street, decorated by interior designer Joanna Wood, which features underground car parking, porterage and a 31' south facing reception room. |
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Leading up to the budget many properties were sold as purchasers wanted to save the rise in stamp duty. As a result Wetherell, the Mayfair specialists, have many purchasers now waiting for the right property. |
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Mayfair's Leading Estate Agent Tel: 020-7493 6935 Fax: 020-7629 9303
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| No.44 | 102, Mount Street, Mayfair, London W1Y 5HF | APRIL 2000 |