Peter Wetherell, Founder at Wetherell Estate Agents, shares some insight from his 40 year career in Mayfair on how the area is shaping up to change, aswell as some insight into future prices.
Known for its elegance, sophistication and wealth; Mayfair is globally regarded as one of the world’s most aspirational places to live, work and visit.
Steeped in 350 years of history, Mayfair is contained in only 285 acres and surrounded by open space and Royal Parks. Today when you walk its 144 streets of Georgian, Victorian, and Edwardian architecture you are a stroll away from two-thirds of the world’s top 100 leading retail brands.
Mayfair is now transcending into a new era, leaving its aristocratic legacy behind and moving forward with a new generation of owners and developers. Extravagance remains at the heart of this transformation with world-class hotels, fine dining and luxury wellness facilities.
The development boom over the last 10 years has resulted in approximately 500 new addresses and a potential 25 per cent increase in residents. Most recently the addition of Mayfair’s 7-star developments including The Bryanston overlooking Hyde Park, Four Seasons at 20 Grosvenor Square, The Mandarin Oriental in Hanover Square, The Dorchester Collection in Stanhope Gate, and the latest upcoming landmark, 1 Mayfair on Audley Square. Predictions are for prices to reach up to £10,000 per sq. ft, competing against the finest properties on a global scale.
As we look to a greener future, a key focus is minimising the impact brought about by change and construction. Eco-conscious hotels and restaurants are leading the way, as well as mixed use developments which contribute towards reducing the carbon footprint, proving that luxury can still be sustainable.
In addition to grand, ultra modern apartments, there are enviable historic homes, usually in a townhouse or villa style and reaching over £4,000 per sq. ft. With influential owners such as politicians, musicians and royals, many of our sellers and landlords require a discreet approach to marketing which is why they come to Wetherell. We are able to draw on an unrivalled network of contacts from the UK and across the world, to ensure that our clients’ needs are met. Our exclusive partnership with Dexters provides a greater depth of service, allowing us to take care of our client’s requirements throughout the city.
With a shared vision amongst all those invested in the community, this is just the beginning as Mayfair reclaims its crown as the ultimate London destination.
