While offering many peaceful pockets, it is also an exciting and interesting place to live, especially for the more sophisticated homebuyer, as it boasts some of London’s best eateries, shops and entertainment establishments.
Shopping in Mayfair still retains a village-like atmosphere. You will find small antique shops, art galleries, the famous Hayward & Hill bookshop, first-class florists and the Mount Street Deli. This is all complemented by the boutique shopping to be found in Mount Street and Bond Street where the very best designer clothes, shoes, jewellery and art can be found. Mayfair residents are spoilt for choice in terms of restaurants, many of which, like Nobu and Scotts, are Michelin-starred.
The best clubs in London, including Annabel’s, Mark’s Club and Harry’s Bar, also happen to be located here, and The Bar at Claridges is always the place to be seen in the city.
The Mayfair Hotel and the Grosvenor Hotel have excellent health clubs. For something different, the Spatisserie at the Dorchester combines the latest spa treatments with afternoon tea.
Mayfair is fortunate to be bounded by two spectacular parks. Hyde Park lies to the West and Green Park to the South, leading directly into St James’ Park. Berkeley Square is also open to the public as is Grosvenor Square. Properties on these squares rarely hit the market but when they do, they command premiums.
Popular streets include Upper Brook Street and Charles Street for the grandeur of buildings, the wonderful period features and huge reception rooms, Chesterfield Hill for its stunning facades, and Hays Mews for its charm and peace.
Mount Street offers some of the best amenities in Mayfair with its many quirky shops and restaurants, following recent regeneration. Grosvenor Square, Berkeley Square and Park Lane have some of the best views in the Mayfair neighbourhood.
To give an idea of price, for a standard-size family house, the average price this year is close to £4.5 million (Dh25.5 million) as compared to just over £2.5 million (Dh14.1 million) five years ago. On average you would have to pay £1.87 million for a two-bedroom flat compared to just over a £1 million five years ago. According to our recent research, the highest price per square foot for a penthouse flat was in excess of £4,000 per square foot.
Suffice to say, you certainly pay for the privilege of living in one of London’s most exclusive enclaves, but it’s a safe, long-term investment, in both a financial and lifestyle sense.
Penelope Court is a Partner at Beauchamp Estates
