Speed of sales and also value of units sold have risen significantly in the last 3 months as the Mayfair residential market continues to see apparent price increases of 20% or more!

Our Park Lane development has seen the sale of the “James Bond” unit, the largest unit in the scheme amounting to 6,000 sq.ft. of triplex with swimming pool, bullion vault, gym, cinema and private garden, sold freehold on an asking price of £9 million.

Mayfair’s latest £32 million development by Northacre of apartments and maisonettes in Park Street is now 70% sold with the remaining units now under offer, of particular note was the “Ambassadorial” triplex sold on an asking price of £12.5 million.

One of the two newly built townhouses in Hays Mews with garaging and terrace has just sold freehold on an asking price of £4.15 million and a newly modernised maisonette in Upper Grosvenor Street with private garden sold on an asking price of £4.95 million.

This hectic market is partly due to low supply and high demand but also a continuing trend of buyers rediscovering Mayfair as one of London’s prime residential areas and also its relative good value when compared to comparable properties in Belgravia and Knightsbridge.

Best Deals in Mayfair & St. James’s

Best Freehold Investment: Newly refurbished period building comprising 3 maisonettes, 2 with outside space @ £7.25M

Best Townhouse: A newly built house featuring a private garden, garaging, cinema/gym, cocktail terrace, air-conditioning and hi-fi technology for the i-pod generation, freehold with 3,350 sq.ft. @ £4.75 million.

Best Penthouse: Park Lane maisonette with 3 balconies overlooking Hyde Park, 2,637 sq.ft. @ £5.5 million.

Best Maisonette: Own front door off St James’s Square, former home of the Army & Navy Club, 3,474 sq.ft. @ £2.75 million.

Best Apartment: With its own conservatory overlooking Hyde Park a 3 bedroom apartment of 2,551 sq.ft. @ £5 million.

Best Rental Investment: Two bedroom apartment close to New Bond Street in quiet location, 944 sq.ft. @ £675,000.

Best Pied a Terre: 2 bedroom flat in portered block, 1,234 sq.ft. @ £650,000

As Mayfair’s specialist estate agent, Wetherell have advised Grosvenor and other major property owners on the creation of 250 new homes in the area. The “Greening of Mayfair” as a revived prime residential area continues with Wetherell advising on schemes that will provide an additional 65 new homes.