Old Cachet, New Money

Release Date:: 07 June 2011
Author:: Victoria Maw
Source:: The FT

London’s Mayfair district evokes images of 1920s and 30s splendour: mansion houses occupied by the English aristocracy; London’s most elite hotels; exclusive streets such as Savile Row and Park Lane, not to mention Half Moon Street, home of PG Wodehouse’s Bertie Wooster, the ultimate Mayfair man about town. During the second world war and postwar years, however, the picture was very different: residential mansions were requisitioned for offices and given temporary commercial use permits after West End buildings were destroyed in the Blitz. The area lost its sheen and its bright young things grew old.

...

Ned El-Imad, 32, a partner in the residential property department of law firm Mishcon de Reya, has lived in Mayfair for 10 years and recently bought a three-bedroom apartment on Mount Street. He has owned several other properties in the area and believes that it is possible to achieve good value for money: “Comparing pound per sq ft values in Mayfair with the rest of London, there is stuff that is more expensive in Bayswater than in Mayfair.”

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Old Cachet, New Money