Top Ten London Selling
Peter Wetherell, known by some as ‘Mr Mayfair’, prefers ‘The Mayfair Guru’ these days. Since he started his business 37 years ago, he has specialised in the super-prime hub of W1J.
Sitting behind a gleaming desk in his gilded Mount Street shop, Wetherell epitomises Mayfair. ‘I once got in trouble for saying [Mayfair] is a rich man’s club. Apparently you can’t say that because it’s sexist and elitist,’ he says with more than a hint of disdain. ‘It is an oasis,’ he concludes diplomatically. And his role within this? ‘An ambassador, an advocate, an aficionado.’
Indeed, he credits himself with reintroducing residential life to the area: ‘Mayfair was very commercial in the Seventies and Eighties. From 1990 onwards we sold over 100 office buildings back to residential.’ It is again the most expensive area in London, back above Knightsbridge – a badge that Wetherell wears with pride. ‘I reclaimed the crown,’ he says.
What does the next phase of life for Mayfair look like? ‘Modern development,’ says Wetherell. ‘The seven-star hotel effect. We have 500 units of new developments coming on in this new superleague, which are up to £8,000 per square foot. This is compared to the domestic market, which is about £3,000 per square foot.’