Upmarket Mayfair has long been home to some of London’s wealthiest residents who flock to the area for its Michelin star restaurants, designer boutiques and jewellers. But over the last year, the number of hedge funds, private equity companies and boutique investment banks in Mayfair has risen by over 100%!
Financial firms in Mayfair.
In fact, the leasing rate for financial firms in Mayfair rose by 139% between 2012 and 2013, with the district now boasting the largest concentration of hedge funds in the capital – they account for around 31% of the area.
Whilst a Mayfair address has always been appealing to businesses, in recent eyes the market seems to have seen an influx of clients. With 18 five star hotels and 31 Michelin Star restaurants, it’s perhaps no surprise that Mayfair is so popular with financial firms, many of whom move here so that they can be as close to their competition as possible – and in order to share a prestigious postcode!
High net worth individuals.
It’s estimated that, over the next decade, £1.3 billion of investment could take place in the area. High net worth individuals would rather meet in a beautiful district than commute miles to the city. After all, wouldn’t we all rather work in Mayfair, given the choice?