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Mayfair Property – under the radar?

It may seem a strange thing to say but many people looking to buy property in prime central London do not consider Mayfair among their preferred buying locations. Of course, everyone knows Mayfair, or at least have heard of it; if only because it is the most expensive ‘property’ in the UK version of the Monopoly game.

It actually takes some persuading to convince buyers that Mayfair property is worthy of their consideration. Why is this?

Maybe because

It is a small area with a relatively small number of properties, at least compared to other central London prime areas
It is perceived as an area full if expensive shops and trendy boutiques rather than a residential area
It is not ‘Belgravia’ – the favoured location for many UK and overseas buyers
It has lots of offices and lacks ‘atmosphere’ or community life, particularly in the evenings
There cannot be any variety in such a small area with so many other functions

In fact, in recent years buyers have returned to Mayfair, many considering numbers 1-4 on this list as positive benefits rather than negative factors; and when they do look at Mayfair, they find that it offers a much wider variety of properties than, for example the popular garden squares of Belgravia.

Why buyers are beginning to choose Mayfair Property

For those in the know, Mayfair property offers many benefits with buyers liking that it is quiet (especially in the evenings and weekends), it is compact and residents can walk everywhere, and it has the best restaurants and is close to London’s best theatres.

Most important, what suits some buyers is that it has a lower profile, is more discreet and, despite what many believe, is still (relatively speaking) ‘under the radar’.

by Simon Barnes

A Screening Room – Entertaining the Dream?

A few prime properties have a proper screening room – by which I mean a cinema-style room with ten or more luxury chairs where movies are projected onto a screen. I saw one a few months ago in a very large country house just outside London where the children (and adults) had access to this full movie experience which included a popcorn machine and an authentic vintage Wurlitzer jukebox. I was surprised that there was not a lady selling ice cream or an organist playing incidental music to the family and their friends before the main feature began.

While most prime properties do not now have a dedicated screening room (in the old sense) most do now either contain a room dedicated to TV, movies and other entertainment; most with large-screen TVs similar to a dedicated movie screening room. The way in which property is used and rooms allocated has changed significantly over the last 20 years. Where once a television used to be the focal point of a reception room, many luxury flats and houses in prime property areas now use the reception room space as a quieter area: a place to read, talk and to entertain friends and entertainment is hived off from this space.

With a changing lifestyle and the greater interaction between families, the kitchen has now become the focal point of many luxury houses. Where there are children, there is now a requirement for an area near to the kitchen where parents can be near enough to supervise, that provides the children with somewhere they can watch television or use a computer to play games, or provides a place for them to do their homework. This importance of the kitchen as the hub of the home has created a trend for dedicated entertainment rooms, including screening rooms to be housed in location such as basements, converted bedrooms and other areas away from the kitchen and main reception room.

Once having a dedicated screening room was on many buyers’ wish list, but I would say it is not as important as it was; having a suitable space in a good location that allows the owners to create or modify for their own entertainment hub is much more important.

Simon Barnes

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by Simon Barnes

Simon Barnes’ Tips for Buying London Property

When thinking about buying London property you need to be aware that the London market operates very differently and is far removed from the rest of the UK and buyers, if they haven’t done so already, need to react in an altogether different way. There’s absolutely no point in reading an article in the Daily Express saying house prices are no longer going up in London (PCL), the fact is THEY ARE, so no point trying to use this argument and attempt to negotiate prices down.

Anyone buying London property needs to be realistic both as far as their expectations for what they’re looking for go, but also on asking prices and value. Buyers looking now will either have been looking for a while, in which case they will already have a good idea of current values. [Read more…]

by Simon Barnes

Property buyers and schools

Very often it is the search for a school which motivates the search for a property and as a result, it can be a lengthy and challenging process, requiring a degree of flexibility and a hunt in all sorts of post codes. So far this year he has had clients from the UK and from France looking for homes to fit with the choice of school in Richmond and Kensington.

Without doubt it is the school that takes priority and typically clients will have their child’s name down with two or more schools and the property search will reflect these choices. This can mean that several houses need to be ‘lined up’ until such time as the child is accepted into the school and the decision has been made.

by Simon Barnes

Do famous owners increase value?

With regards to London property owned by famous people or featuring in films increasing its value, the answer is no. I very much doubt that my buyers would be shallow enough to pay more for a property which has been owned by a famous person, other than possibly with the exception of real historic value, or been used in a major film.

If anything it may detract from the appeal, as it becomes a “marked” property which is easily recognisable. If it is of architectural or special design interest and that is why it had been featured in a film, then this would have been reflected in the price from the outset.

Why buyers are beginning to choose Mayfair Property

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