MAYFAIR, WITH OVER £4BN (GDV) OF NEW DEVELOPMENT, INCLUDING £100+M OF PUBLIC REALM INVESTMENT, IS LONDON’S 3rd LARGEST REGEN AREA SAYS SURVEY
Tue 14 Oct 2025
Mayfair, with over £4 billion (GDV) of new development, including over £100 million being invested into Mayfair’s public urban fabric and landscape, is the third largest and most valuable regeneration investment hub in Prime Central London (Zone 1) says a new Mayfair public realm survey commissioned by Mayfair specialist Wetherell.
Using information and data from Westminster City Council, the Mayfair Neighbourhood Forum, environmental group Nature Sacred, principal landowner-developers Grosvenor, Caudwell, The Crown Estate, Reuben Brothers, The Portman Estate and local market intelligence, the new Wetherell survey – entitled The Glamour and Psychogeography of Mayfair – reviews the public realm improvements in the district and its psychogeography, examining how an enhanced environment influences the psychology of Mayfair’s residents and visitors.
The new survey reveals that Mayfair’s key public realm projects, recently completed or planned, represent over £100 million of investment into Mayfair’s public urban fabric. The 13 key public realm projects in Mayfair include the creation of two new public squares, the first in the district since 1731, three new Parisian-style pedestrian boulevards, two enhanced garden squares, five pavement widening/enhanced pedestrian access projects and a green corridor project.
The public realm investment is part of over £4 billion (GDV) of new development currently being undertaken in Mayfair, placing the famous district third in the top 5 ranking of the largest and most valuable regeneration investment hubs in Prime Central London (Zone 1). Mayfair follows Earls Court (£10 billion GDV) and Battersea Power Station (£9 billion GDV) and is ahead of Elephant & Castle (£4 billion) and at joint fifth Kings Cross (£3 billion) and Queensway (£3 billion).
The survey reveals that two of the most exciting new public realm projects in Mayfair will be the delivery of the two new public squares. The first is the new Audley Square, opening onto South Audley Street and framing 1 Mayfair, the new £2 billion (GDV) residential development by landowner-developer Caudwell. 1 Mayfair will provide 24 principal residences priced from £35m and five staff studios/pieds-à-terre, alongside stately home inspired public rooms, a central garden, and 5-star deluxe leisure amenities including a curated library and a health spa with swimming pool.
In the centre of Audley Square will be a new sculpture by Philip Jackson, Royal sculptor to HLM Queen Elizabeth II, alongside new trees, planting and street paving. 1 Mayfair will also deliver significant pavement and street scene improvements along adjacent Hill Street and Waverton Street.
John Caudwell, Founding Director of Caudwell said that with the new Audley Square and sculpture he: “wanted to capture that sense of romance in the days when Mayfair would have been full of horse-drawn carriages and lots of stables, a really beautiful talking point.”
The second new square will be Shepherd Market Square, located in The Piccadilly Estate that forms the southern boundary of Mayfair. Developer Reuben Brothers are investing £1 billion to regenerate and transform The Piccadilly Estate into a new luxury mixed use address.
The new Shepherd Market Square will be created in the cul-de-sac currently named Shepherd Market with new traffic bollards bordering the space helping to create a pedestrian priority square alongside the installation of high-quality English York stone paving, new tree planting, public seating and better street lighting.
Jamie Reuben, Principal at Reuben Brothers says: “We’re creating a new square, working with Westminster City Council to make the area more interactive. The idea is to get people more engaged in Shepherd Market, there’s going to be increased pedestrianisation, a more interactive mix to the retail, and more events as well, to create a community vibe.”
Alongside the new Shepherd Market Square The Piccadilly Estate provides One Carrington, a new residential address with 28 apartments priced from £2.95m, The Carrington, a new private member’s club run by Robin Birley, and Cambridge House on Piccadilly, a luxury boutique hotel in a Grade I Listed mansion providing 102 rooms and seven residences.
The survey highlights that the three new Parisian-style pedestrian boulevards will generate significant traffic flow changes around the borders and entry points into Mayfair. The result will be to enhance better walking and cycling connections across the district and help to generate a more traffic free urban-village ambience across Mayfair.
The first of these planned pedestrian boulevards is the pedestrianisation of Oxford Street. The first phase in 2027, costing £150 million, will comprise the pedestrianisation of 1.1 miles of Oxford Street between Orchard Street and Great Portland Street, with the second phase in 2028, pedestrianising the thoroughfare all the way to Tottenham Court Road. To drive the project through, Oxford Street now comes under the authority of the Mayor of London and Transport for London, rather than Westminster City Council, where some Councillors have opposed the proposals.
The second pedestrian boulevard is along Regent’s Street to Waterloo Place, creating a traffic free boulevard with new tree planting and landscaped areas. The proposals fall under the auspices of Westminster City Council and The Crown Estate are part of a £340 million refurbishment of The Crown Estate’s West End property portfolio and public realm spaces. A final decision on the proposals is expected by the end of 2026.
The third pedestrian boulevard is the Park Lane project proposed by the Mayfair Neighbourhood Forum which would remove all traffic from the 1.1km (0.7 mile) carriageway on the Mayfair side of Park Lane, whilst reinstating the two-way East Carriage Drive, currently a northbound bus/taxi lane.
Commenting in the survey on these ambitious pedestrianisation schemes around Mayfair’s perimeter landowner-developer John Caudwell of Caudwell says: “I think responsible town planners should always look at how to evolve life in their areas for the benefit of people. Cars are dreadfully polluting so these pedestrianised areas will cause a bit of inconvenience for some motorists and they do come at a cost, but it beautifies the Mayfair area completely, so I think its natural and progressive.”
The Wetherell survey says that four of the recently completed public realm projects have all enhanced pedestrian footfall and visitors. These are the widening of pavements, new trees and seating in Bond Street, Burlington Gardens and the Mayfair Green Route, centred on Mount Street Gardens.
The survey highlights that successful public realm projects are driven by three key stakeholders – the local authority, local landowners/developers and local people/local community. Only when all three stakeholders work closely together are projects delivered and judged successful.
Disagreements between Westminster City Council and the Mayor of London’s office have slowed the plans for the pedestrianisation of Oxford Street for example. The survey reveals that an example of successful co-operation is the key contributors helping to kickstart the mile-long Mayfair Green Route. The project has been driven by local community stakeholders the Mayfair Neighbourhood Forum, along with the Mayfair branch of Nature Sacred, the American-founded environmental group. Local resident and Nature Sacred member Anne Gray has worked closely alongside Westminster City Council champion the Green Route and to install the new Nature Sacred Benches in Mount Street Gardens.
The Wetherell survey highlights that the recent successful completion of the refurbishment of Hanover Square as an enhanced green square is now being followed by the redesign of Grosvenor Square gardens. Started in 2025, and scheduled for completion later in 2026, the redesign by architects Tonkin Liu will increase the biodiversity of the gardens, creating two acres of habitat rich planting including 150,000 new plants and bulbs, 26 newly planted trees, a wildflower lawn and new wetland ponds. The result will be a leafy garden and woodland, more in keeping with how the gardens were kept during the Victorian era. Wetherell highlight that maintaining and carefully curating the quality of the streets/public realm, properties, leaseholders and commercial tenants, carefully overseen by Grosvenor and other landowner-developers such as Reuben Brothers, has a positive impact on property values in Mayfair.
Data from LonRes, based on average achieved pounds per square foot values per calendar year, show that home values in Mayfair are 52% higher than the prime central London average, up from 27% back in 2012. In contrast in Knightsbridge, owned by a variety of freeholders and lacking the public realm investment and estate curation of Mayfair, residential property values are just 18% higher than the prime central London average, down from over 50% in 2012.
Peter Wetherell, Founder & Executive Chairman of Wetherell says: “Mayfair’s landowner- developers are investing heavily in Mayfair’s public realm and working with Westminster City Council to carefully curate the quality of the streets, squares and commercial tenants. This is good for upholding long-term real estate values and attracting a strong influx of buyers and tenants because people want to live, work and play in an attractive high quality environment. If you look at Prime London locations where there is no continuous ownership, joined up investment into the public realm and curation of commercial tenants, it has a negative impact on property values.”
Peter Wetherell adds: “Investment in the urban fabric is why Mayfair has overtaken Knightsbridge as London’s premier address and perhaps the best example of poor public realm investment in the heart of London is adjacent Pimlico, which was auctioned off by Grosvenor in the 1950s. As a result, Pimlico property values are significantly lower than neighbouring Belgravia and Mayfair and the address is seen as far less desirable for wealthy potential buyers and investors.”
In the survey John Caudwell, Founder of Caudwell adds: “Over the last ten years Mayfair has already been transformed. It has worked its way back up to the top of the Monopoly board, and it’s going to keep going (up) with all of these green spaces and beautiful developments. I think the future of Mayfair is extremely bright.”
Jamie Reuben, Principal at Reuben Brothers says in the survey: “The transformation of Mayfair in recent years has been remarkable. The amount of investment coming in over the last decade has been enormous. Westminster City Council has played a key role in the curation of new development and preserving the area’s historic backbone. It’s very thoughtful, purposeful progress.”
For a copy of the public realm survey or for information on the finest homes available to purchase and let in Mayfair contact Wetherell on Tel: +44 (0)20 7529 5566 or visit www.wetherell.co.uk
Using information and data from Westminster City Council, the Mayfair Neighbourhood Forum, environmental group Nature Sacred, principal landowner-developers Grosvenor, Caudwell, The Crown Estate, Reuben Brothers, The Portman Estate and local market intelligence, the new Wetherell survey – entitled The Glamour and Psychogeography of Mayfair – reviews the public realm improvements in the district and its psychogeography, examining how an enhanced environment influences the psychology of Mayfair’s residents and visitors.
The new survey reveals that Mayfair’s key public realm projects, recently completed or planned, represent over £100 million of investment into Mayfair’s public urban fabric. The 13 key public realm projects in Mayfair include the creation of two new public squares, the first in the district since 1731, three new Parisian-style pedestrian boulevards, two enhanced garden squares, five pavement widening/enhanced pedestrian access projects and a green corridor project.
The public realm investment is part of over £4 billion (GDV) of new development currently being undertaken in Mayfair, placing the famous district third in the top 5 ranking of the largest and most valuable regeneration investment hubs in Prime Central London (Zone 1). Mayfair follows Earls Court (£10 billion GDV) and Battersea Power Station (£9 billion GDV) and is ahead of Elephant & Castle (£4 billion) and at joint fifth Kings Cross (£3 billion) and Queensway (£3 billion).
The survey reveals that two of the most exciting new public realm projects in Mayfair will be the delivery of the two new public squares. The first is the new Audley Square, opening onto South Audley Street and framing 1 Mayfair, the new £2 billion (GDV) residential development by landowner-developer Caudwell. 1 Mayfair will provide 24 principal residences priced from £35m and five staff studios/pieds-à-terre, alongside stately home inspired public rooms, a central garden, and 5-star deluxe leisure amenities including a curated library and a health spa with swimming pool.
In the centre of Audley Square will be a new sculpture by Philip Jackson, Royal sculptor to HLM Queen Elizabeth II, alongside new trees, planting and street paving. 1 Mayfair will also deliver significant pavement and street scene improvements along adjacent Hill Street and Waverton Street.
John Caudwell, Founding Director of Caudwell said that with the new Audley Square and sculpture he: “wanted to capture that sense of romance in the days when Mayfair would have been full of horse-drawn carriages and lots of stables, a really beautiful talking point.”
The second new square will be Shepherd Market Square, located in The Piccadilly Estate that forms the southern boundary of Mayfair. Developer Reuben Brothers are investing £1 billion to regenerate and transform The Piccadilly Estate into a new luxury mixed use address.
The new Shepherd Market Square will be created in the cul-de-sac currently named Shepherd Market with new traffic bollards bordering the space helping to create a pedestrian priority square alongside the installation of high-quality English York stone paving, new tree planting, public seating and better street lighting.
Jamie Reuben, Principal at Reuben Brothers says: “We’re creating a new square, working with Westminster City Council to make the area more interactive. The idea is to get people more engaged in Shepherd Market, there’s going to be increased pedestrianisation, a more interactive mix to the retail, and more events as well, to create a community vibe.”
Alongside the new Shepherd Market Square The Piccadilly Estate provides One Carrington, a new residential address with 28 apartments priced from £2.95m, The Carrington, a new private member’s club run by Robin Birley, and Cambridge House on Piccadilly, a luxury boutique hotel in a Grade I Listed mansion providing 102 rooms and seven residences.
The survey highlights that the three new Parisian-style pedestrian boulevards will generate significant traffic flow changes around the borders and entry points into Mayfair. The result will be to enhance better walking and cycling connections across the district and help to generate a more traffic free urban-village ambience across Mayfair.
The first of these planned pedestrian boulevards is the pedestrianisation of Oxford Street. The first phase in 2027, costing £150 million, will comprise the pedestrianisation of 1.1 miles of Oxford Street between Orchard Street and Great Portland Street, with the second phase in 2028, pedestrianising the thoroughfare all the way to Tottenham Court Road. To drive the project through, Oxford Street now comes under the authority of the Mayor of London and Transport for London, rather than Westminster City Council, where some Councillors have opposed the proposals.
The second pedestrian boulevard is along Regent’s Street to Waterloo Place, creating a traffic free boulevard with new tree planting and landscaped areas. The proposals fall under the auspices of Westminster City Council and The Crown Estate are part of a £340 million refurbishment of The Crown Estate’s West End property portfolio and public realm spaces. A final decision on the proposals is expected by the end of 2026.
The third pedestrian boulevard is the Park Lane project proposed by the Mayfair Neighbourhood Forum which would remove all traffic from the 1.1km (0.7 mile) carriageway on the Mayfair side of Park Lane, whilst reinstating the two-way East Carriage Drive, currently a northbound bus/taxi lane.
Commenting in the survey on these ambitious pedestrianisation schemes around Mayfair’s perimeter landowner-developer John Caudwell of Caudwell says: “I think responsible town planners should always look at how to evolve life in their areas for the benefit of people. Cars are dreadfully polluting so these pedestrianised areas will cause a bit of inconvenience for some motorists and they do come at a cost, but it beautifies the Mayfair area completely, so I think its natural and progressive.”
The Wetherell survey says that four of the recently completed public realm projects have all enhanced pedestrian footfall and visitors. These are the widening of pavements, new trees and seating in Bond Street, Burlington Gardens and the Mayfair Green Route, centred on Mount Street Gardens.
The survey highlights that successful public realm projects are driven by three key stakeholders – the local authority, local landowners/developers and local people/local community. Only when all three stakeholders work closely together are projects delivered and judged successful.
Disagreements between Westminster City Council and the Mayor of London’s office have slowed the plans for the pedestrianisation of Oxford Street for example. The survey reveals that an example of successful co-operation is the key contributors helping to kickstart the mile-long Mayfair Green Route. The project has been driven by local community stakeholders the Mayfair Neighbourhood Forum, along with the Mayfair branch of Nature Sacred, the American-founded environmental group. Local resident and Nature Sacred member Anne Gray has worked closely alongside Westminster City Council champion the Green Route and to install the new Nature Sacred Benches in Mount Street Gardens.
The Wetherell survey highlights that the recent successful completion of the refurbishment of Hanover Square as an enhanced green square is now being followed by the redesign of Grosvenor Square gardens. Started in 2025, and scheduled for completion later in 2026, the redesign by architects Tonkin Liu will increase the biodiversity of the gardens, creating two acres of habitat rich planting including 150,000 new plants and bulbs, 26 newly planted trees, a wildflower lawn and new wetland ponds. The result will be a leafy garden and woodland, more in keeping with how the gardens were kept during the Victorian era. Wetherell highlight that maintaining and carefully curating the quality of the streets/public realm, properties, leaseholders and commercial tenants, carefully overseen by Grosvenor and other landowner-developers such as Reuben Brothers, has a positive impact on property values in Mayfair.
Data from LonRes, based on average achieved pounds per square foot values per calendar year, show that home values in Mayfair are 52% higher than the prime central London average, up from 27% back in 2012. In contrast in Knightsbridge, owned by a variety of freeholders and lacking the public realm investment and estate curation of Mayfair, residential property values are just 18% higher than the prime central London average, down from over 50% in 2012.
Peter Wetherell, Founder & Executive Chairman of Wetherell says: “Mayfair’s landowner- developers are investing heavily in Mayfair’s public realm and working with Westminster City Council to carefully curate the quality of the streets, squares and commercial tenants. This is good for upholding long-term real estate values and attracting a strong influx of buyers and tenants because people want to live, work and play in an attractive high quality environment. If you look at Prime London locations where there is no continuous ownership, joined up investment into the public realm and curation of commercial tenants, it has a negative impact on property values.”
Peter Wetherell adds: “Investment in the urban fabric is why Mayfair has overtaken Knightsbridge as London’s premier address and perhaps the best example of poor public realm investment in the heart of London is adjacent Pimlico, which was auctioned off by Grosvenor in the 1950s. As a result, Pimlico property values are significantly lower than neighbouring Belgravia and Mayfair and the address is seen as far less desirable for wealthy potential buyers and investors.”
In the survey John Caudwell, Founder of Caudwell adds: “Over the last ten years Mayfair has already been transformed. It has worked its way back up to the top of the Monopoly board, and it’s going to keep going (up) with all of these green spaces and beautiful developments. I think the future of Mayfair is extremely bright.”
Jamie Reuben, Principal at Reuben Brothers says in the survey: “The transformation of Mayfair in recent years has been remarkable. The amount of investment coming in over the last decade has been enormous. Westminster City Council has played a key role in the curation of new development and preserving the area’s historic backbone. It’s very thoughtful, purposeful progress.”
For a copy of the public realm survey or for information on the finest homes available to purchase and let in Mayfair contact Wetherell on Tel: +44 (0)20 7529 5566 or visit www.wetherell.co.uk