Mayfair, W1

Mayfair is an area of central London in the City of Westminster, named after the annual fortnight-long May Fair that took place there from 1686 until it was banned in that location in 1764. Prior to 1686, the May Fair was held in Haymarket, and after 1764, it moved to Fair Field in Bow.

Mayfair is roughly bordered by Hyde Park to the west, Oxford Street to the north, Piccadilly and Green Park to the south and Regent Street to the east. Most of the area was first developed between the mid 17th century and the mid 18th century as a fashionable residential district, by a number of landlords, the most important of them the Grosvenor family. The freehold of a large section of Mayfair also belongs to Queen Elizabeth II.[citation needed] Queen Elizabeth II was born in Bruton Street and lived in Mayfair during her infant years.

The district is now mainly commercial, with many offices in converted houses and new buildings, including major corporate headquarters, a concentration of hedge funds, and real estate businesses. Rents are among the highest in London and the world. There is still a substantial amount of residential property, as well as some exclusive shopping, London's largest concentration of luxury hotels and many fine restaurants. Buildings in Mayfair include the United States embassy in Grosvenor Square, the Royal Academy of Arts, The Handel House Museum, the Grosvenor House Hotel and Claridge's.

Mayfair is the most expensive property on a British Monopoly set.

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