THE MAYFAIR MANSION IS BACK!

Over the last 12 years, Wetherell have been involved in the marketing of nearly 80 period buildings that have reverted back to their original residential use after nearly 50 years of commercial occupation.

Although a large number of the properties have been converted into multiple occupation as flats and maisonettes, a number of the buildings have now reverted to their original use as substantial Mayfair townhouses.

Over the last year there has been two substantial sales of mansions at values either side of £20 million. It is refreshing to see that at the present time there are nine large houses undergoing or about to begin a complete restoration back into Mayfair mansions with three houses alone, of over 10,000 square feet, being refurbished in Charles Street.

GOOD ENTERTAINING SPACE -
HOUSES NOT FLATS

Mayfair is an area for entertaining both at home and eating out, but buyers are frequently disappointed by the reception areas in flats when they don’t need a great deal of bedrooms but want the space to entertain. This is when a Mayfair house is of such attraction.

Wetherell are currently marketing over £25 million worth of Mayfair townhouses, we have never before had such a varying range of styles. In South Street we have just taken instructions on the former house of Joan Collins. Peter Wetherell was dealing with her on the sale over 20 years ago but since then this fine Georgian townhouse, built in 1757, has been reconfigured to modern day standards whilst still retaining many traditional features of the Mayfair townhouse. (asking price £2.25 million).

One house in Charles Street with pool and mews house with garaging has just come to the market at £12.5m for the freehold and Wetherell have just launched the marketing of “Mayfair House” on the corner of South Street and Waverton Street (see main picture). Formerly an ambassador’s house for both the German and Japanese Embassies this mansion has a 125 year lease and is offered at £7.5 million.

Other feature houses currently available range from a freehold mews house with garaging in Hay’s Mews (£2.2m), a trendy freehold corner house in Chesterfield Hill (£2.1m), a modern master piece of style in Binney Street (£2.8m), two new houses in Culross Street with all the plus points of garage, garden, lift & air-conditioning (£2.85m each) and a two bedroom freehold house in Hertford Street (£1.6m).

BUYER'S WISH LIST -
OUTSIDE SPACE

“I would like a long lease and some outside space”. A few years ago these wish list requirements usually resulted in a blank stare from Mayfair estate agents! Unable to offer long leases and with terraces at a premium, this was a rare sale.

Wetherell are therefore privileged to offer at present nearly £10 million worth of apartments all with terraces. New to the market is a penthouse in Upper Grosvenor Street in a south facing white stucco building, more Belgravia than Mayfair, with two bedroom suites plus a study, with drawing room and conservatory dining room leading out onto private roof terrace at £1.625 million. Another south facing white stucco building in Charles Street boast another penthouse again with roof terrace, with three bedrooms at £1.8 million for a freehold.

LAST UNITS IN PARK LANE

Only four units now remain in Mayfair’s most exclusive development at Park Lane Place, two 2 bedroom maisonettes are in the new build part of the development (£1.25m / £1.35m) and two 1 bedroom flats (£650,000 / 725,000) remain.

RENTALS IN MAYFAIR

Throughout August and early September we have been busy taking on new property for rent as tenants have moved out. A new penthouse close to the Ritz in Dover Street with 2 reception rooms is available at £1,600 p.w., a small house off Park Lane in Stanhope Row with two bedrooms at £950 p.w. and in Mount Street, our local “High Street”, we have two flats; one overlooking the gardens with 3 bedrooms at £1,650 p.w. and a smaller flat with 2 bedrooms at £575 p.w.