Harrods Estates Reports a 40% Rise in West Africans Buying in Mayfair
Posted by Chanel Patterson — May 12, 2015
LONDON, UK - Leading prime London estate agent, Harrods Estates Mayfair Office, has reported a surge in demand from West African purchasers in Mayfair with a 40% rise in sales of luxury property to the nationality in the last 12 months; a 400% rise compared with the previous year.
Shirley Humphrey, Director at Harrods Estates commented: “We have seen a considerable increase in demand from West African’s looking to purchase a pied a terre in Mayfair. The majority are looking to spend between £2.5 and £6.5 million on a two or three bedroom apartment, where they can stay when visiting London on business or for pleasure.
As with many of our international clients, West Africans are seeking apartments in luxury developments, which offer 24-hour security, concierge and spa facilities. Family is very important to them and we have noticed that prefer to cluster buy more than one apartment in the same building so that they have somewhere for their children, parents and grandparents to stay.”
Mayfair is seeing resurgence over the coming years, with an array of new luxury developments in the pipeline and the return of many commercial buildings put back to residential use. The area has long appealed to British nobility, aristocracy and high society as well international wealthy individuals from around the world, including Middle Eastern, Chinese, Indian and Russian buyers.
Shirley added: “Mayfair offers a village lifestyle in a fantastic central location. The excellent shopping on Mount Street and Bond street, fantastic restaurants and five star hotels, contribute to the areas popularity and with Hyde Park and Knightsbridge a short stroll away, many of our clients love the location as both an investment and lifestyle choice.
“West African purchasers are drawn to living north of Hyde Park or just off Park Lane on Upper Grosvenor Street or Mount Street and prefer period buildings with newly refurbished luxury interiors which they can move straight into. Although they are buying property as an investment, the key thing for West Africans is owning a home in London which they can use for a minimum of a few months of the year.”
Properties which will appeal to West African purchasers in Mayfair:
Harrods Estates is delighted to offer a luxurious two bedroom mezzanine apartment at The Lancasters, which offer an unrivalled luxury lifestyle in a desirable setting overlooking Hyde Park.
The stunning furnished apartment is priced at £3.5 million and has been beautifully interior designed by the renowned David Linley.
The apartment is beautifully presented, combining original historic details with new interiors and feature a spacious living and dining area, bespoke kitchen with integrated Miele appliances, and two marble bathrooms. The master bedroom and ensuite is situated on the mezzanine floor.
The have a real ‘wow’ factor with double height ceilings, original sash windows, original cornicing and architrave detailing along with beautiful columns to the entrance of the living space and its own front entrance.
Upper Grosvenor Street
This spacious three bedroom apartment is situated in a popular art deco building on Upper Grosvenor Street. The generously proportioned property features an open plan living/dining area, separate kitchen, main bathroom and ensuite.
The building includes a concierge and 24-hour security in the heart of Mayfair and is priced at £3.2 million.
For further information please visit www.harrodsestates.com for more information or call 0207-409-9001.
About Harrods Estates
Harrods Estates is the luxury real estate arm of the Harrods Group, specialising in the sale, letting, acquisition and management of some of the most exclusive properties in central London. The luxury agent offers a discreet, bespoke, VIP service to each and every one of its clients.
Supported by the strength of the Harrods brand, Harrods Estates has successfully developed strong brand awareness in key international markets, predominately Russia, the Middle East and Asia with the result that international clients now account for 89 per cent of sales and lettings. In addition to the experienced professionals on the Russian and Middle Eastern desks and Mandarin speakers; Harrods Estates is able to call upon the skills of the interpreters from all over the world who are on hand in Harrods.
Harrods Estates recently launched a special Harrods Rewards Points scheme. Harrods Rewards Points members that sell or purchase or let their property through Harrods Estates will receive rewards points to spend in the world’s most famous department store.