Mayfair is a rarified area away from the City which attracts private banks and hedge fund managers and boasts some of the capital’s most exclusive shops, five-star hotels, restaurants and clubs. But how easy is it to make the dream of living there become a reality? Simon Barnes, managing director at H. Barnes & Co, warns,
“On paper it seems you are well prepared to find and buy the perfect Mayfair property, but this is not a game of Monopoly and it will take more than a roll of the dice and money in the bank to find and secure your ideal home.”
Never have the words ‘location, location, location’ been more crucial than in Mayfair.
“Over the past 20 years,”
says Mr Barnes,
“much of the district has become commercial, with many offices occupying converted houses, new buildings, major corporate headquarters, embassies and hotels. Consequently, the amount of prime residential property is seriously limited, only those with a trained eye will know where to look.
“Unlike Belgravia with its identical rows of Georgian terraces and repeated stucco fronted houses, Mayfair with capacious grand style houses is truly unique. Previously these cavernous houses were only of interest to Arab or Greek buyers. More recently there has been a shift in demand for huge houses of 10,000 square feet and international buyers, including wealthy Russians come to Mayfair on a quest wanting ‘big’.
“The scarcity and individuality of residences along with their particular location within a given street makes it more difficult to buy the right house in the right place. Rarely is money or time a key motivator when looking to buy here, it really is a waiting game and knowing where to find the hidden gems. The trend to sell off and convert mews houses over the years has not escaped Mayfair, so again knowing where to find these prized houses still in possession of their own mews is something of a skill.”
Mr Barnes also points out that in Mayfair far fewer houses are similar, unlike those found in Knightsbridge, consequently values are harder to work out because there is less ‘like for like’ and far less turnover.
Jo Eccles, managing director of Sourcing Property, comments,
“Mayfair architecture is so varied, and that’s a lovely quality that it has over other areas which includes tall town houses, lateral apartments, incredible ‘Tardis’ style houses, and some of the apartment blocks have hidden communal gardens which don’t even show up on a standard map. Our Mayfair clients tend to be divided into two types: those from ‘old money’ backgrounds and those from ‘new money’, such as someone who has had a very successful career in finance, or sold a business recently.”
In conclusion, Caspar Harvard-Walls, partner at independent property buying agency, Black Brick, says,
“Mayfair was made the most expensive piece on the Monopoly board for a reason, but by the mid 1990s it had been superseded by Belgravia and Knightsbridge. Much of this was due to the fact that many of the residential buildings had been converted into offices and embassies and, as a result, the area had become soulless.
“However, the turnaround has been sharp, led by the late Duke of Westminster who owned 30% of Mayfair. The number of restaurants, members’ clubs and designer retail are all on the increase and combined with some luxury new build developments, Mayfair is a much more desirable and up market destination. Mayfair has regained its soul and, from a property perspective, its position as the prime spot on the Monopoly board once more.”
Hanover Terrace, Regents Park, NW1 (Above)
Available for long and short lets, this five-storey Nash terrace house is directly opposite the lakes of Regent’s Park. The property is in immaculate condition throughout and consists of the main house, a private garden, mews house, two terraces and a garage. The main house includes an entrance hall, dining room, bar, drawing room, study, kitchen, master bedroom with en suite bathroom and dressing room, bedroom with en suite bathroom, three further bedrooms, a guest shower room, media room, gym and sauna. The Mews House has a lounge, kitchen, bedroom, guest bathroom and utility room.
From £15,000 / €16,820 / $18,550 per week
Beauchamp Estates
www.beauchamp.com
Park Place, St James Park, SW1
Perfectly positioned on the same street as The Ritz, Park Place Residences form a new collection of just six high-end apartments with a concierge service. The development’s penthouse is a duplex apartment, spanning 3,405 square feet. It incorporates four en suite bedrooms and features a 1,034 square foot roof terrace offering 360-degree views spanning Mayfair right round to Big Ben and Parliament.
£13.95m / €15.64m / $17.25m
JLL
www.jll.co.uk
Rose Square, The Bromptons, Chelsea
Just minutes away from Mayfair, The Bromptons is a gated development which provides underground parking, 24-hour concierge and security, a spa, gym and communal gardens. Within it is London’s largest lateral apartment offering 7, 763 square feet of accommodation including eight bedrooms, eight reception rooms and nine bathrooms across one level. Originally designed as four separate properties, the refurbished apartment features a grand entrance hall, with a series of reception, dining and entertaining rooms and a modern kitchen. The master bedroom suite has a bespoke rack capable of holding 500 pairs of shoes, a separate walk in wardrobe and a vast en suite bathroom, finished in marble and gold. The turnkey property features finishes such as 24 carat lined ceilings, bespoke joinery, solid wood flooring, marble bathrooms and comfort cooling.
£25,000 / €28,066 / $30,540 per week
(available for long term lets)
Harrods Estates
www.harrodsestates.com
Curzon Street, W1
An outstanding duplex penthouse with wrap-around terracing and panoramic views over London. It offers three/four bedrooms (one could be laid out as a gym), and a stunning open plan reception room, kitchen and dining room, with floor to ceiling windows on three sides of the building. Lift access and two underground parking spaces are also included.
£13.75m / €15.43m / $16.8m
Savills Mayfair
www.savills.co.uk
Chesterfield Hill, W1J
Exceptional new-build townhouse in the heart of Mayfair village set behind the restored original façade. There are six bedrooms and five bathrooms across its seven floors and all of the interiors have been finished to the very highest standard. It also has five reception rooms including a cinema room, games room and large dining room. Meticulously refurbished, the property features hand crafted materials and bespoke joinery.
£11.95m / 13.4m / $14.8m
Dexters
www.desxters.co.uk
Burlington Gate, W1
In the heart of the fashion and arts district of Mayfair close to Bond Street, an existing 83,000 square foot commercial building is being redeveloped into 42 apartments with boutique hotel style amenities, together with curated art gallery spaces on the lower levels. Burlington Gate will be centred around the first new arcade in Mayfair since 1930, connecting Old Burlington Street with Cork Street, and is expected to complete this summer. With a superb mix of exclusive tradition and superior innovation, the apartments feature exceptional bespoke detailing, from expertly-crafted door handles and joinery to handmade kitchens and bathrooms. Amenities include a gym and dedicated 24-hour concierge. Average price per square foot £4,250 / €4,925 / $5,365
Native Land
www.native-land.com
55 Conduit Street, W1S
This penthouse apartment has a south-west facing terrace and an open plan kitchen which is perfect for entertaining. It has three bedrooms, including a master bedroom with an en suite and French windows leading out on to a balcony with views of the London skyline. The striking period property is centrally located at this highly coveted Mayfair address surrounded by some of the finest establishments. The shopping amenities of Regent Street and Oxford Street are a stone’s throw away and transport links in the area are excellent.
£3.95m / €4.38m / $4.84m
Sotheby’s Realty
www.sothebysrealty.co.uk
Davies Street, W1K
Superb four-bedroom, third-floor, lateral apartment of 2,627 square feet in a beautiful period building in the heart of Mayfair. It comprises a grand entrance hallway, large reception room, separate dining room, fully-fitted kitchen, cinema room, master bedroom with dressing room, sitting area and en suite bathroom, two further guest bedroom suites and a fourth bedroom (currently configured as a study). Additional features include high ceilings, two balconies, air conditioning, a Crestron AV system, lift, resident porter and storeroom.
£11.95m / €13.4m / $14.8m
Harrods Estates
www.harrodsestates.com
