Mayfair Bucks Downward Price Trend

Whilst most of the rest country are seeing accelerating house price falls, research by Knight Frank apparently shows that property prices in Mayfair were up 10% so far this year. Mayfair - termed a "super-prime" district, alongside areas such as St James' and St Johns Wood - has seen these price increases primarily because there continues to be a shortage of stock.

Read more - Telegraph: London property market: Down, but not out…

Mayfair Estate Agent Quits Sales

It has been reported that the Mayfair estate agent Blenheim Bishop is quitting property sales because of the punishing economic climate. The Evening Standard has reported that the firm, based in South Audley Street and trading for 17 years, has had to let 10 staff go and will be selling its offices.

Blenheim Bishop will not be closing however, but will focus solely on the lettings side of its business.

Hermes Sells Mayfair Offices

Property Week has reported that Hermes Real Estate has sold offices worth £145million in Mayfair's Burlington Gardens and Clifford Street.

2/3 Burlington Gardens, comprising of 45,000 sq ft of office space, was sold for £75 million and 7 Clifford Street was sold for £70 million. Hermes Real Estate, which was named Property Fund Manager of the Year 2008 at the recent Property Week Awards, bought the properties in 2004 and managed a yield of about 4%.

5 Savile Row For Sale

Dutch insurance conglomerate and fund manager, ING, is selling part of its London property portfolio including 5 Savile Row. Property Week reports that the 32,000ft block is being marketed at £43million, having been purchased from GE Real Estate earlier this year for £51million.

Live Property Information Added to About Mayfair

We're pleased to announce that we have now added live property data to AboutMayfair.co.uk. Using an aggregator service, we are able to present a great selection of properties for sale and for rent from across a wide range of leading estate agents.

Properties For Sale In Mayfair
Properties To Let In Mayfair

Gap Between Mayfair and City Office Prices Widens

A new report by CB Richard Ellis has found that the difference in prime office space costs between the West End and the City is at its widest ever level . Within the West End, the headline figure is actually skewed upwards by two sub markets which demand prime rentals of £120.00 per sq ft - Mayfair and St James's.

Prime rental costs in the City stands at only £65.00 per sq ft. The City faces competition from Docklands and new developments on the South Bank, whilst West End tenants are less likely to look at other areas. The research says "top prime rents of the West End are being driven by a relatively small number of tenants that have strong preferances for very specific locations in the West End".

Read the CBRE Report

See Also:
Mayfair Serviced Offices

For Sale: Aberconway House - £46m

Aberconway House in South Street has been put up for sale. This impressive 7 bedroom property was built in the 1920s for the industrialist Henry McLaren (who became Baron Aberconway) and offers nearly 23,000 sq ft of space, neo-georgian styling and access to "secret gardens".

The property is available through Portman Heritage and offers are asked for in excess of £46million.