Guide to Mayfair Property London W1
The area is bordered to the north by Oxford Street, to the south by Piccadilly, to the west by Park Lane and to the East by Regent Street. As a result, with any Mayfair property you are never far from the very best of shopping, the finest dining or from quality entertainment.
How do we describe Mayfair? Simple: If you are very rich, it’s probably the place for you. If you are not, it definitely isn’t.
It maintains its status as London’s most exclusive area. Properties there cater to all tastes and desires among the impossibly opulent. Outrageously chic apartments, mansions fit for royalty and everything in between. Mayfair property has it all, as long as you have the pockets for it.
With the best selection of property for the very wealthiest it is also (and this is no coincidence) perfectly placed. It is close to the main shopping areas and has easy access to the City.
A brief history of Mayfair
Mayfair was mainly open fields until development started in the Shepherd Market area around 1686 to accommodate the May Fair that had moved from Haymarket in St James’s. It is named after the annual fortnight-long May Fair that, from 1686 to 1764, took place on the site that is now Shepherd’s Market.
During the 1980s, Mayfair had mainly offices, but since then has been reclaimed as the most exclusive of residential areas. As a result, it now has a roughly even one third split between residential dwellings, offices and retail premises.
Recent prices are around £1,000 per square foot (psf), with the best on offer in Park Lane reaching £1500 psf. A realistic entry value for an address in Mayfair is approximately £1.5 million. The western edge of Mayfair is a little more exclusive while the east and north are more likely to contain the commercial property. The south of Mayfair is a little older than the west with a village feel. Shepherd Market in the south-west is notable as a fast developing, fresh and vibrant part of London.
Mayfair is also home to some of the most luxurious hotels in the country, so no surprise that it is the most expensive square on the Monopoly board!