Mayfair set to come top of the property spots as redevelopment pays off

Written on 1 September 2014 by Alistair Boscawen in London, Property News


Investment into this part of Prime London means that the area’s likely to reclaim the title of top performer in the property market.

For years Mayfair had been the centre of London’s key property sector, however, in the 1980s and 90s this momentum apparently began to taper off.

Experts claim that the influx of embassy headquarters and office space made the area rather dry and soulless. However, now apparently the completion of the Mount Street development in Mayfair four years ago has reinvigorated this part of town.

The improvements to Mount Street saw some four million pounds spent on infrastructure and public spaces and there were many shops introduced too. This was carried out by Grosvenor – a major landowning estate founded in 1677. The group currently controls some 30 percent of the area.

And it seems that the new £785 million investment the group’s set to inject into projects across the north of Mayfair could push it up to number one once more – in terms of high-performing London areas. This feted title was lost to Knightsbridge and Belgravia – however it’s about to start getting competitive again!

We love Mayfair and welcome the boom in the area’s fortunes. It’s got that perfect mixture of old and new London which makes this prime area top of the property charts for many investors  – both from home and overseas.

For more information click on the source below:

FT

 

Alistair Boscawen

Alistair has 32 years’ experience as an estate agent, starting in the country house department of one of London’s main international agencies before moving to the Knightsbridge house department of the same agency and learning the difference in values between freehold, long lease and short lease houses in Knightsbridge, Belgravia, Chelsea and Mayfair.

All articles by Alistair Boscawen

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