This neighbourhood of central London occupies the southern part of the luxurious area of Mayfair. Sitting in a prime corner between Hyde Park and Green Park, its access to some of the capital’s most iconic green spaces makes it highly coveted. But it’s not just the vast parks that make a home in Mayfair worth an average of roughly £4 million, it’s also the number of beautiful historical buildings, designer retail, and five-star hotels that give the area its reputation. It is therefore easy to see why so many millionaires choose to call Mayfair home. Whilst it might be hard to get to the private jet in such a dense location, the good Underground access means they can easily get to Heathrow on the Piccadilly line, though many of the wealthy local residents would probably opt for a chauffeur over a stuffy tube carriage.

While it is believed that the area was occupied by the Romans before they built their capital of Londinium, Mayfair was only given its name around 300 years ago when it used to host the famous springtime festival. The celebration was known for the plethora of peddlers, jugglers and performers who congregated around Market Street back when it was mostly unused green space. However, particularly after the Great Fire of London in 1666, wealthy aristocrats moved into its squares and gradually gave it its illustrious reputation. By the reign of George I, the May Fair had fallen into disrepute and led to an upper-class campaign against it and the long-lived celebration was outlawed in 1764. The area soon had one of the highest concentrations of politicians, merchants, bankers and other rich people – even the Rothchilds moved into the block during the 19th century.

Mayfair is hot property; as everyone who’s ever played Monopoly can attest to. It’s the most expensive property on the British board game, and some even claim that this is the source of its fancy reputation.

Property in the area is highly valuable and thus eye-wateringly expensive; average house prices are near the £4 million mark. In addition, the benefits of being so central are paid for in the noise, people and pollution that concentrate in the area.

Some saw the move of the US Embassy out of Grosvenor Square as a loss for the reputation of the area, but the building is set be revived as a hotel in 2023. Despite delays caused by the COVID-19 Pandemic, a contractor was finally appointed in 2020 and the contract awarded was described as one of the most valuable in the city. Building began in 2021 and the luxury hotel will consist of 139 luxury hotel and new retail spaces. There are also a few residential and commercial developments coming to Mayfair, albeit ones that very much fit with the current luxury environment of the area. For example, 32 “super prime” flats are being constructed on Curzon Street and will be completed in late 2022. Apartments range from two to four bedrooms, starting at £10.7 million for a two-bed. There will also be two duplex penthouses. The building will also house the next generation of Mayfair’s famous Mirabelle restaurant, a recreation of the iconic restaurant founded in 1936. That said, a few affordable housing developments have been completed recently, including a development at Farm Street providing 14 key worker apartments and a street cleaning depot. The Council has also committed to guaranteeing that 35% of all new residential developments are affordable.