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by Simon Barnes

Mayfair – trading spaces, changing faces

Facts, observations and anecdotes from the streets of prime central London

 

“As my office is just off Berkeley Square in the heart of Mayfair, I can’t fail to notice how Mayfair has changed over the last 20 years. For several decades people regarded Mayfair as an upmarket commercial area, peppered with estate agents, offices and boardrooms belonging to stockbrokers, bankers and financiers tucked behind discreet Georgian facades. The few remaining large private residences were owned by wealthy Greeks and Arabs, and other than perhaps a handful of Americans, no one wanted to live in Mayfair. These were the days before the term, ‘trophy home’ existed.

Mayfair, London
Mayfair, London

 

It seems improbable that in the late 1980’s, when the Grosvenor Estate started to sell off property, that it attracted little interest from private buyers prepared to take on the challenge of converting a large property from an office back to a private residence. People who worked there didn’t wish to live nearby; those living in Regent’s Park wouldn’t go south, and discreet Belgravia was considered the only residential option for smart buyers.

Many overseas buyers were put off by the terms of buying a leasehold property and the schedule of works imposed by the landlord such as the Crown Estate could be prohibitive. That said, one could see an obvious contrast between freehold properties, where owners had a free rein over the upkeep of their properties and the leaseholders who had to maintain their properties according to the stipulations of the landlord. For example, Charles Street was made up entirely of leasehold properties, all well maintained to create a smart looking street; in contrast four freehold properties in Chesterfield Street were practically derelict because their owners had no responsibility to paint or repair the exteriors.”

Filed Under: Prime Areas Tagged With: Charles Street, Georgian facades, Mayfair, Regent’s Park

by Simon Barnes

Buying the Best Properties in the Best Streets

Simon Barnes explains why settling for second best is not an option when it comes to locating the best properties

When people are considering buying a property in Prime Central London I’m frequently asked ‘EXACTLY where is the best place to buy?’

The simple truth is there is no point in having the best house in the worst street.

Similarly, once you have chosen your street, you certainly do not wish to invest in a lesser house when, with a little insider knowledge and research, you could have a much better one.

LondonBuildings005

One thing potential buyers find very surprising is that the key areas of Prime Central London – even Mayfair, are all incredibly small, but the property range is quite diverse. So being armed with the knowledge of exactly where and where not to buy is essential.

Mayfair

I would say that there are only ten streets you should be looking at in Mayfair; these include Charles Street, Upper Grosvenor Street, Mount Street and Green Street.

However, do look at Charles Street in Google Earth or Street View and you will see that some sections are much narrower than others, and that the houses contrast in style and architectural features. At the rear, you will see that others back closely onto houses in Hay’s Mews to the north and Clarges Mews to the south. You can imagine that, in these houses, very little natural light comes in and the gardens may lack privacy, although many do have the adjoining mews houses, which provide much needed parking, added accommodation and security.

In reality, even in the prestigious location Green Street, Mayfair there are perhaps only four or five houses, that I would recommend buyers view.

Belgravia

Take a Google Street view ‘drive’ around Belgrave Square and at first glance, you will see that all the houses appear to be identical. Therefore, you would assume that they all have the same inside layout. However, there is a massive difference between houses and their immediate neighbours. Seemingly irrelevant details, for example, where the staircase is , can dramatically change the house and will define the houses appeal.

Similarly in one of the great Belgravia streets, Cadogan Place, at the eastern part of the street, you will notice that the houses all have gleaming white stucco fronts while at the south end the houses have plain brick frontages. While the white facades may seem attractive, all these houses back closely onto their mews houses. The brick fronted houses are much better; more space at the rear, quieter and altogether a better location.

Kensington

It’s the same story in Kensington. In the popular Holland Villas Road, houses on one side back on to the noisy Holland Road, while houses on the other side back onto the very much quieter large houses of Addison Road.

Some years ago a client came to me wanting to buy a property in Holland Park and was comparing it in size, amenities and price to another across the road which had recently been on the market. I told him that he should consider only one which actually backed on to the park. While there are very few which do, I found one which he subsequently purchased.

Filed Under: Advice Tagged With: Addison Road, Belgrave Square, Cadogan Place, Charles Street, Clarges Mews, Green Street, Hay’s Mews, Holland Road, Mount Street, Prime Central London, Upper Grosvenor Street

by Simon Barnes

Buying Mayfair Property

A waiting game – buying Mayfair property wisely requires more than money…

So you have the money, time on your hands and you’ve finally narrowed the location down to Mayfair as the place you want to live. Mayfair – that rarified area away from the City, attractive to private banks, hedge fund managers and boasting some of the capital’s most exclusive shops, luxury hotels, restaurants and clubs. 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 that dream home.

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Never have the words ‘location, location, location’ been more crucial than in Mayfair. History and WWII certainly changed the architecture and look of Mayfair; barely one week into the Blitz and the area running due west from Berkeley Square to Park Lane and south from Oxford Street to Piccadilly was badly bombed. The aftermath of the war meant that Mayfair’s larger properties were too expensive to to maintain as private homes and became offices and given over to commercial use. [Read more…]

Filed Under: Prime Areas Tagged With: buying Mayfair property, Charles Street, Mayfair, Mayfair property, Portland stone

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