finest mayfair s property portfolio 2013 NO-ONE KNOWS MAYFAIR BETTER THAN WETHERELL

mayfair s finest property portfolio 2013 NO-ONE KNOWS MAYFAIR BETTER THAN WETHERELL

SOLD March 2013 SOLD January 2013 Mayfair s SOLD September 2012 SOLD March 2013 SOLD March 2013 finest MansionS Left to Right Green Street/Dunraven Street 20,690 Sq Ft Guide Price: 40,000,000 Upper Brook Street 4,306 Sq Ft Guide Price: 6,250,000 Mount Street 11,431 Sq Ft Guide Price: 20,500,000 Aldford Street 9,332 Sq Ft Guide Price: 17,500,000 Mount Street 10,022 Sq Ft Guide Price: 32,000,000 SOLD BY wetherell Bringing Residential Life Back to Mayfair Wetherell have sold over 100 former commercial buildings reverting back into their original residential use creating over 300 new homes. no-one knows mayfair better than wetherell

? MayfaiR why IS So Important When I first started working in Mayfair in the 1970 s the terms PCL (Prime Central London) and Super Prime did not exist. If you wanted to define the expensive areas of London you mentioned Mayfair, Belgravia, Knightsbridge, Kensington and Chelsea - and in that order for price hierarchy. Today PCL has grown, as has the source of wealth and nationalities of buyers. Over the last 30 years Mayfair has slipped down in the top values due to lack of new stock creating new super values and it has been left to areas like Knightsbridge and Belgravia to fly the flag for London s most prestigious developments. How often have I heard the phrase Mayfair looks cheap or as I would prefer to say Mayfair offers good value when compared to other PCL areas of prime residential property. Well the tide is now turning once again and Mayfair is experiencing its biggest Step Change since the 1920 s, nearly a century ago, when old Mansions were torn down and the new commercial mixed use Mayfair came into being. My experience on values has historically been that Grosvenor Square lead the value race and the rest of Mayfair then caught up with it before the Square went through a new uplift in value which once again permeated through the area. Wetherell are currently giving development advice on over 400 new residential units in Mayfair which will add nearly 10% to the current stock - a massive step change and the opportunity to regain the title of London s No.1 residential area offering the facilities of culture, commercial and retail that no other London area can compete with. Now take into consideration CrossRail and the development opportunities and you will then realise why Mayfair is so important. Peter Wetherell Managing Director - Wetherell finest mayfair s property portfolio 2013

PAGE 2

upper grosvenor street MAYFAIR W1 A BEAUTIFUL AND IMPOSING STONE FRONTED GRADE II LISTED CORNER BUILDING, COMPRISING FIVE LARGE APARTMENTS. LOCATED JUST OFF GROSVENOR SQUARE AND LEADING TOWARDS HYDE PARK. Totalling 15,864 square feet, with two entrances, the property is suitable for a number of uses; for investment, for the occupation of one family as a private apartment building or converted to a single residence (subject to consents). Energy Efficiency Rating Bands A to G PRICE ON APPLICATION PAGE 3

PAGE 4

charles street MAYFAIR W1 A very fine example of a mid-18th century Mansion House with mews in one of Mayfair s most desirable residential addresses. PROPOSED ACCOMMODATION Grand Entrance Hall Family Room Games Room Formal Drawing Room Formal Dining Room Library Chinese Wallpaper Room Family and Catering Kitchens Courtyard Garden Master Bedroom Suite with His and Hers Dressing and Bathrooms 7 further Bedroom Suites Cinema Wine Room Gym Pool Spa Garage Parking for 3 Cars Passenger Lift Staff Accommodation Energy Efficiency Rating Band E All interior images are computer generated FREEHOLD PRICE UPON APPLICATION

PAGE 6

UPPER BROOK STREET MAYFAIR W1 A very private low built hidden house and unique in Mayfair given the approach via a 64 foot private garden and the additional features of a swimming pool and garaging for two cars. Entrance Hall Three Reception Rooms Two Studies Kitchen/Breakfast Room Master Bedroom with Two En Suites and Two Dressing Rooms Guest Suite of Bedroom, Bathroom and Dressing Room Bedroom Three Shower Room Landscaped 64 Foot Garden Courtyard Garden Double Garage 30 Foot Swimming Pool Comfort Cooling 5,645 Square Feet EPC Rating Band E Freehold 17,500,000 PAGE 7

Upstairs Homes in London s Mayfair now employ more domestic staff than they did in the Victorian era, yet 21st century households require very different types of domestic support than their Victorian counterparts and increasingly provide their staff with high quality accommodation and flexible working conditions. In a review of private apartments and houses in Mayfair, we calculated that four out of five private apartment owners and nine of out ten house owners employ professional and domestic staff. Over 70% of residents in Mayfair are now multiple property owners, with a home in Mayfair, another in the countryside and others overseas. Many only live in London during particular seasons or weeks of the year, with high staff requirements whilst they are in residence, with the properties maintained by a skeleton staff when they are away in the country or overseas. Unlike the Victorian era, when the vast majority of staff were below stairs and required to do basic manual labour, 21st Century households now employ two distinctly different types of staff: professional advisors and domestic staff. The first type of staff are professional advisors, typically highly educated, qualified and well paid, who are focused on assisting with the lifestyle, investment and health needs of the family/owners. They include the investment/legal advisor, diary/management secretary, property advisor, head of security, professional butler and health/fitness coach. These staff will typically either have their own property or be provided with a separate staff flat and be requested to visit the family/owners as and when required. Within the largest apartments and houses, the head of security and diary/management secretary will typically have their own offices, and will be required to work full time or part-time at the property whilst the owners/family are in London. Often positions can merge into one, so a PA will also provide security, and a butler will double as a chauffeur. The role of staff in Victorian times was to be invisible and quiet, the modern professional advisors are often treated as members of the family and expected to give their views on important matters. The second type of staff are Domestic workers, typically lower skilled and on lower incomes eg nanny, maid/cleaners and driver. During the Victorian era domestic staff in Mayfair s grandest houses were housed in small dormitory style rooms on either the top floor of the houses or above the mews stable block, eating together in the staff kitchen on the lower ground floor. Now three out of five live-in domestic staff will typically have a well appointed private flat or suite, with a kitchenette, living/bedroom suite and an en suite shower room/bathroom. In larger houses, the staff quarters will now be either on one of the lower ground levels or above the mews, which are now above the garaging and finished to a high specification. In addition, some households will spend anything from 500,000 to 750,000 purchasing a small basement or top floor flat in Mayfair as accommodation for their staff. Figures from The Work Foundation show that there are now more than 2 million domestic workers in the UK, consisting of nannies, butlers, maids, cleaners and gardeners, exceeding the 1.8 million people in domestic service in 1900: of these, 52,000 are full time live-in staff. The UK average is one in ten households employing some form of domestic help, however the figures rise dramatically in central London.

culross STREET MAYFAIR W1 A beautifully designed and extremely comfortable four bedroom family home off Park Lane with a roof terrace of over 500 square feet. Entrance Hall Dining Room Study Guest Cloakroom Drawing Room Library Conservatory Kitchenette Master Bedroom En Suite Bathroom Separate Dressing Room Three Bedrooms Two Shower Rooms Kitchen Family/Media Room Patio Utility Room Wine Cellar 3,444 Square Feet Energy Efficiency Rating Band E FREEHOLD GUIDE PRICE 12,500,000 PAGE 9

south audley STREET MAYFAIR W1 A substantial apartment of 4,021 square feet set over the upper floors of this grand and imposing terracotta building. Entrance Hall Kitchen Double Reception Room Master Bedroom Suite Four further Bedroom Suites Two further Shower Rooms Lift Energy Efficiency Rating Band D 11,200,000 chesterfield hill MAYFAIR W1 A grand yet comfortable C18th freehold townhouse comprising some 4,722 square feet. Entrance Hall Drawing Room Study Dining Room Kitchen/Breakfast Room Guest Cloakroom Master Bedroom with En Suite Bathroom Guest Bedroom with En Suite Bathroom Two Further Bedrooms One Further Bathroom One Further Dressing Room Conservatory Passenger Lift SEPARATE STAFF ACCOMMODATION COMPRISES Sitting Room Kitchen Bedroom with En Suite Bathroom FREEHOLD 9,950,000 PAGE 10

PAGE 11

The changing face of mayfair village Mayfair Village is defined by locals as the top edge of Grosvenor Square down to Charles Street and bounded by Park Street to the West and Berkeley Square to the East. Mayfair Village has always been the most sought after of Mayfair locations with the necessities of village life such as church, butcher, bank, newsagent, costermonger, wine merchant and school. Mount Street, South Audley Street and Davies Street are arguably the commercial heart of the village and it is these streets that have seen the most change over the last decade. Since the opening of Marc Jacobs in 2007 at 25 Mount Street the character has rapidly altered from antique, art and hairdressing to international & heritage luxury goods and fashion. Heritage brands James Purdey & Sons and Allens the Butchers who have been in the area for over 120 years still remain alongside The Mount Street Printers, William & Son and The Connaught hotel but they have been joined by internationals Balenciaga, Goyard, Oscar de La Renta, Vivienne Westwood, Lanvin, Christian Louboutin and new bespoke retailers such as Hedonism Wine, The New Craftsmen and shortly French brand Celine plus Philips the auctioneers. The entertainment and dining offer has also been revamped with 34, The Mount Street Deli, George, Maze, Hélène Darroze, Mortons, Alfred s at Dunhill with classics Harry s Bar, Scott s, C (formerly Cipriani), Finos and The Audley all recently refitted. Whether you are shopping till you drop, dining in style or enjoying a quiet moment in its green spaces Mayfair Village is the perfect spot. PAGE 12

park street MAYFAIR W1 Within this Park Lane apartment building undergoing a renaissance, a third floor residence of 2,200 SQ ft. Entrance Hall Reception Room Dining Room Kitchen Master Bedroom Suite with Dressing Room Two further Double Bedroom Suites Cloakroom Terrace 24 Hour Porterage Secure Parking by separate negotiation 2,201 Square Feet Energy Efficiency Rating Band D 88 Year Lease 8,000,000 PAGE 13

south audley STREET MAYFAIR W1 A COMPREHENSIVELY REFURBISHED AND INTERIOR DESIGNED LATERAL APARTMENT OF 1,744 SQUARE FEET IN THIS ENVIABLE MAYFAIR VILLAGE LOCATION. SOLD Large Entrance Hall Reception Room Dining Room with Balcony Master Bedroom Suite Guest Bedroom Suite Eat-In Kitchen Study 1,744 Square Feet Newly Refurbished Common Parts Lift Energy Efficiency Rating Band D 6,000,000 mount street MAYFAIR W1 Within this corner Grade II listed Mayfair building, a second floor apartment of circa 2,000 square feet with views of Mount Street and Berkeley Square. Entrance Hall Drawing Room Dining Room/Bedroom Three Master Bedroom with En Suite Bathroom Guest Double Bedroom Guest Shower Room Kitchen Guest Cloakroom Independent Gas Central Heating 1,968 Square Feet Energy Efficiency Rating Band F 6,500,000 PAGE 14

PAGE 15

A Journey through london s property values Ave Price of 2 Bedroom Apartment Underground Station Source: (Wetherell & Dataloft May 2013) Data: Average sales values for 2 bedroom apartments based on Lonres, Land Registry & Zoopla data (last 12 months) PAGE 16

curzon street MAYFAIR W1 A spectacular residence over two floors benefitting from its own grand street entrance and featuring a magnificent hall with a vaulted ceiling. Grand Entrance Hall Inner Hall with Study Area Two Reception Rooms Kitchen Two Bedrooms Two En Suite Bathrooms Guest Cloakroom Porter Secure Parking 2,142 Square Feet Energy Efficiency Rating Band D 116 Year Lease 4,250,000 PAGE 17

farm street MAYFAIR W1 this three bedroom family apartment features a south facing reception room almost 26 Feet in length, and a decked roof terrace which extends to over 500 square feet. Entrance Hall with Stairs to 3rd Floor Double Reception Room Study/Dining Room Kitchen Guest Cloakroom Landing with Stairs to Roof Terrace Master Bedroom with Ample Wardrobes and En Suite Bathroom Two further Bedrooms Family Bathroom Decked Roof Terrace Six Person Passenger Lift 4,250,000 CARPENTER STREET MAYFAIR W1 A CORNER DUPLEX APARTMENT LOCATED BETWEEN BERKELEY SQUARE AND GROSVENOR SQUARE Entrance Hall Two Reception Rooms Kitchen/Breakfast Room Guest Cloakroom Master Bedroom with En Suite Bathroom & Dressing Room Two Further Bedrooms Family Bathroom Comfort Cooling Lift Caretaker Energy Efficiency Rating Band D 3,650,000 PAGE 18

charles street MAYFAIR W1 a third floor apartment in this portered building where the residents own the freehold, benefitting from a secure basement parking space. Entrance Hall Double Reception Room Kitchen/Breakfast Room Three Bedrooms En Suite Bathroom Shower Room 1,216 Square Feet Independent Central Heating & Hot Water Resident Porter Lift Large Parking Space 28'8" x 10'3" (8.76m x 3.15m) Energy Efficiency Rating Band C 990 Year Lease plus Share of Freehold 2,500,000 Park StreeT MAYFAIR W1 A sizeable duplex apartment for sale on a long lease and offering excellent value for money. Large Double Reception Room Kitchen Breakfast Room Guest Cloakroom Two Double Bedrooms Two Bathrooms (One En Suite) Utility Room 1,701 Square Feet / 158 Square Metres Energy Efficiency Rating Band D 2,595,000 PAGE 19

DUKE STREET APARTMENTS MAYFAIR W1 16 classic and contemporary, high specification apartments for rental in vibrant Mayfair LAST FEW REMAINING Modern, sophisticated and luxurious living, in one of the best locations in Central London Duke Street Apartments a newly refurbished Grade II listed building, extensively restored for today s discerning market by Grosvenor, creating elegantly designed apartments, individually detailed and immaculately finished. Perfectly located in Mayfair, just off Grosvenor Square, benefitting from the premium restaurants, clubs and hotels as well as the world s smartest retail streets and town squares. Mayfair is the heart of London for connectivity, culture and art. The Duke Street Apartments are adjacent to the open space of Brown Hart Gardens and synonymous with modern Mayfair. Quality of services and facilities are integral to Duke Street Apartments, with a team dedicated to meet day-to-day needs. This refined and comprehensive approach meets the requirements for today s dynamic lifestyle. RENTAL TERMS Seven fully furnished apartments by Helen Green Design and nine two and three bedroom unfurnished apartments.

Park Lane MAYFAIR W1 SHORT LET Spanning over 1,800 square feet, this three bedroom deluxe apartment is spacious and on the 7th floor, the apartment has access to amenities such as laundry services and an on-site restaurant. State of the Art Technology On-Site Restaurant Beautiful Interiors Lift Porter Laundry/Maid Services Furnished Energy Efficiency Rating TBC 10,430 per week North Audley Street MAYFAIR W1 SHORT LET The penthouse, Apartment C is split over the third and fourth floors and boasts views of North Audley Street and Hyde Park beyond. Two Bedrooms Two Bathrooms Reception Room Kitchen Video Phone Entry Terrace Furnished Energy Efficiency Rating Band C 4,375 per week PAGE 21

Duke Street MAYFAIR W1 With high ceilings throughout this apartment of almost 2,400 square feet has two inter-connecting reception rooms leading to the kitchen which opens onto the terrace. Master Bedroom with Dressing Room and En Suite Bathroom Two Further Bedrooms both En Suite Available Now for Long-Let Unfurnished Energy Efficiency Rating TBC 4,250 per week Green Street MAYFAIR W1 An exceptional south facing penthouse with direct lift access, located within this handsome period building overlooking the secret gardens of Green Street. Two Reception Rooms Kitchen Three Bedrooms Four Bathrooms Direct Lift Access Terrace Furnished Energy Efficiency Rating Band D 3,950 per week PAGE 22

Albemarle Street MAYFAIR W1 A superb lateral apartment with dual aspect facing south to St James's and west to Mayfair. Open-Plan Reception and Kitchen with Dining Area Master Bedroom with En Suite Second Double Bedroom Guest Shower Room Lift Porter Energy Efficiency Rating Band D 1,300 per week Bruton Place MAYFAIR W1 This one bedroom apartment features a large reception room with south facing windows, original wood floor and original fireplace with Louis Quinze mantelpiece. Large Reception Room All Marble Bathroom Kitchen Bedroom Private Secluded Terrace Superb Storage Space Original Wood Floor South Facing Windows Energy Efficiency Rating Band D 525 per week PAGE 23

Per week / short let / long let / furnished / unfurnished a guide TO renting in mayfair Per Week v Per Month With lettings the first question in London is always why property is marketed by the week rather than on the more familiar monthly term? The simple, if unfulfilling, answer is nobody seems to know! It may have its roots in the historic weekly payment of wages or maybe a way to make properties look more affordable than the monthly term. Rent is calculated by the weekly price x 52 weeks and then divided by 12 or 365 to get the monthly or daily rate. In the days of 5% returns the rental price could be quickly calculated via the sale price with the rule of thumb being a 5 million property fetching 5,000 per week in rent. Short let v Long let A long let is classed as a contract lasting longer than 3 months, but most usually 6 to 12 months. In long let tenancies the tenant is responsible for all utility bills and council tax. A short let is a term of under 90 days, which in Westminster requires a special licence. Short let properties often include utility bills and council taxes but are charged at a higher rate as a result. Furnished / Part Furnished or Unfurnished Although the terms seem fairly straight forward levels of furnishing do vary hugely from basic beds, sofas & tables to full packages which can include linens, cutlery & kitchen equipment so it is best to agree with the landlord or agent which items will be included before placing an offer on a property. PAGE 24

80,000 Workers 5,200 Residents 4,363 Residential Addresses 3,800 5* Hotel Rooms 285 Acres 144 Streets 26 Michelin Stars And one Independent Estate Agent Specialising in Mayfair Mayfair has 350 years of community in 285 acres, accommodating 4,363 residential addresses. It might surprise you to know that 73% of its 5,200 permanent residents have no other residential address apart from Mayfair. On the Grosvenor s 100 acre estate there are 1,910 households with 3,476 residents of which 23% live in social rented accommodation. Compare this to the census of 1790 when a population of 1,526 residents had 129 persons of title, 35 M.P.s and 112 professionals. This aristocratic and professional class of 20% of the population were catered for by trade that amounted to nearly 60% of the remaining tenants on the estate. Fast forward to a recent survey by Grosvenor and Experian for the W1K postal code area (encompassing the estate) which shows that those of affluent wealth now amount to nearly 70% of the population. Today s Mayfair residents are attracted to the facilities that have also made their home in Mayfair and all boast the same credentials of being No.1. Mayfair is home to 80,000 workers and has 3,800 five hotel rooms. It has the most expensive office rents in the world housing hedge funds, financials, advertising and communications industries. Bond Street is now the most expensive district for luxury retailers and jewellers with Regent Street re-invented with Apple and Burberry. The leisure industry of five hotels and Michelin starred restaurants plus the culture of 11 theatres and 10 museums within walking distance combined with 5 tranquil open spaces makes Mayfair unique. Wetherell have no authority to make or give any representations or warranties in relation to the properties. This brochure does not form part of any offer or contract and must not be relied upon as statements or representations of fact. Any areas, measurements or distances are approximate. The text and photographs are for guidance only and are not necessarily comprehensive. It should not be assumed that the properties have all the necessary planning, building regulation or other consents and Wetherell have not tested any services, equipment or facilities. Purchasers must satisfy themselves by inspection or otherwise. Wetherell June 2013. Design by Twentyonefifty 020 8778 2150.

102 Mount Street, London W1K 2TH SALES 020 7529 5566 sales@wetherell.co.uk RENTALS 020 7529 5588 rentals@wetherell.co.uk wetherell.co.uk