Capital Gains: London Property Hits A New High
Four developments that prove the British capital’s prime market is roaring post lockdown.
Four developments that prove the British capital’s prime market is roaring post lockdown.
Views of Big Ben, Art Deco-revival design, vast, sun-drenched living spaces, boutiques and cafés minutes away from the front door — to say that there’s much that appeals about this six-tower development that epitomises is a tepid understatement.
Set on the former site of the Metropolitan Police headquarters, the development exudes the best in urban living. Executed with aplomb by developer Northacre and the project’s architects Squire and Partners, it comprises 258 luxury apartments (including 16 spectacular penthouse apartments) characterised by oak and marble fittings and floor-to-ceiling, diamond-shaped windows inspired by 1920s jewellery.
The residents-only lifestyle services and amenities are fit to elevated expectations — state-of-the-art games, screening and meeting rooms; beautifully tended podium gardens above the bustle of Westminster; a dedicated 24-hour concierge service which will service residents’ needs from housekeeping, laundry and flowers, to travel, tickets and recommendations.
A fully-equipped gym, personal training rooms and yoga/stretch rooms, steam room and 25-metre pool also inform the property.
From £1.75m; thebroadwaylondon.com
The ultimate lock-up-and-leave London bolthole for overseas buyers, as well as an ideal dwelling for professional city-folk, these nine Garden Villas mere moments from Regent’s Park blend Mews-style living with luxury amenities (think 24-hour concierge, underground valet parking and a private 12-seat cinema).
As well as space – 1,864sq ft for two bedroom efforts – owners have more than 9,000 sq ft of private residents’ amenities at their disposal, including a spa, 20-metre swimming pool, treatment room, gym, business suite and Pilates studio.
Inspired by the Regent’s Crescent’s architectural design, interiors are blessed with a combination of warm timbers, dark stone and rich metal accents, all bathed in plenty of light.
“A refreshing characteristic of the Garden Villas is the amount of natural light that flows through each property, with carefully angled roof lights and floor lights shooting daylight right through to the basement area, flooding the spaces with light,” states the mastermind behind the homes’ architectural design, Ian Law, a partner at PDP London. “London has previously been known for its quaint traditional mews houses, but these Garden Villas offer a refined take on a classic way of living in the capital, they satisfy the desire to live in an individual home by retaining proximity to private garden space and your own front door, creating a sense of freedom in a Prime Central London location.”
From £5,150,000; regentscrescent.com
Londoners are well-attuned to the joys of visiting the Royal Borough of Kensington and Chelsea’s largest park – not least the orangery, the giant chess set, the war-ravaged ruins, the cricket pitch, the tennis courts, the Kyoto Garden, the Fukushima Memorial Garden, the squirrels and peacocks that call it home… look, we could be here a while such is the bountiful allure of this central space.
And now a lucky few can live on the cusp of Holland Park — in one of four 3,007 sq ft penthouses, the interiors of which are the work of Albion Nord. The design-studio-of-the-moment has blended light, fresh tones with richer earthy greens, burnt oranges and blues to reflect the hues of the park just to the residences’ south. The studio has also hand-picked statement artworks, sculptural items from artisan suppliers mixed with vintage pieces to echo the incredible tree-lined, ‘boulevard’ views of the famed suburb.
Located on the fourth floor, the development’s prime expression, The Penthouse, is filled with natural light and has sweeping views of West London. The property features three spacious bedrooms, two terraces and views onto the stunning neighbourhood and park. Bathed in light thanks to floor-to-ceiling glazing, the Penthouse offers high ceilings and underfloor heating throughout, and is fitted with rich joinery, Bulthaup kitchens and marble bathrooms.
All residents of 80 Holland Park – the latest residential scheme by visionary developer Christian Candy – have access to the development’s private communal garden, providing easy access to Holland Park, as well as a full-service offering that includes 24-hour concierge, secure parking, private cinema room with 98-inch screen, lounge and business suite with fibre-optic broadband for residents working from home.
There is also a boot and dog-wash room, a 17-metre pool and steam room, and a performance-driven gym fitted with state-of-the-art training equipment and best-in-class technology curated by Olympic triathlete Tim Weeks.
From £15,350,000; knightfrank.co.uk
Having The Queen as a neighbour is just one boastful aspect of this luxury development — one that stares down Central Park Tower, the Avenue Des Champs-Élysées and Dubai’s Burj Khalifa when it comes to ‘Most Prestigious Global Address’ status.
It’s again Northacre – the luxury developer behind acclaimed London projects such as The Lancasters, The Phillimores, Kings Chelsea and The Bromptons, as well as The Broadway – steering things at No.1, which, as the road name suggests, offers unique views across Buckingham Palace Gardens.
“The development is unique in the sense that it incorporates five architectural styles – Italian Renaissance, Beaux-Arts, French Renaissance, Queen Anne, and 21st-century Contemporary within an island site — which is very rare in developments across London,” explains Northacre CEO Niccolò Barattieri di San Pietro.
Indeed, the project’s interiors team scoured the planet in search of exceptional accoutrements and precious materials to reflect this eclectic quintet of styles —
Italian marble and brushed copper among the results of such curation efforts.
Residents who take up one of 72 dwellings found behind the five distinct facades – which range from one-five bedrooms, and from 679sq ft-5,343sq ft, and have ceiling heights ranging from 2.65m to 5m in the principal rooms – will find elegant fitted oak parquet flooring across living spaces and all bedrooms, with kitchens by Obumex inclusive of Calacatta Oro marble tops and splash backs alongside fully integrated appliances by Gaggenau and Miele.
Eco-friendly touches include LED lighting and adjustable controls, independent MEP control and a state-of-the-art rooftop rainwater harvesting system.
From £2.35m; numberonepalacestreet.com
Americans now think they need at least $1.25 million for retirement, a 20% increase from a year ago, according to a survey by Northwestern Mutual
Amid looming rate rises, there are reasons to be cheerful as mortgage holders head into 2023
Mortgage holders should brace themselves for more pain as the Reserve Bank of Australia board prepares to meet tomorrow for the first time this year.
Most economists and the major banks are predicting a rise of 25 basis points will be announced, although the Commonwealth Bank suggests that the RBA may take the unusual step of a 40 basis point rise to bring the interest rate up to a more conventional 3.5 percent. This would allow the RBA to step back from further rate rises for the next few months as it assesses the impact of tightening monetary policy on the economy.
The decision by the RBA board to make consecutive rate rises since April last year is an attempt to wrestle inflation down to a more manageable 3 or 4 percent. The Australian Bureau of Statistics reports that the inflation rate rose to 7.8 percent over the December quarter, the highest it has been since 1990, reflected in higher prices for food, fuel and construction.
Higher interest rates have coincided with falling home values, which Ray White chief economist Nerida Conisbee says are down 6.1 percent in capital cities since peaking in March 2022. The pain has been greatest in Sydney, where prices have dropped 10.8 percent since February last year. Melbourne and Canberra recorded similar, albeit smaller falls, while capitals like Adelaide, which saw property prices fall 1.8 percent, are less affected.
Although prices may continue to decline, Ms Conisbee (below) said there are signs the pace is slowing and that inflation has peaked.
“December inflation came in at 7.8 per cent with construction, travel and electricity costs being the biggest drivers. It is likely that we are now at peak,” Ms Conisbee said.
“Many of the drivers of high prices are starting to be resolved. Shipping costs are now down almost 90 per cent from their October 2021 peak (as measured by the Baltic Dry Index), while crude oil prices have almost halved from March 2022. China is back open and international migration has started up again.
“Even construction costs look like they are close to plateau. Importantly, US inflation has pulled back from its peak of 9.1 per cent in June to 6.5 per cent in December, with many of the drivers of inflation in this country similar to Australia.”
Investing app Robinhood blocked access to GameStop and other highflying names on Thursday as trading surged among retail users. The move comes after GameStop (GME) stock has shot higher over the past week, inspiring a short squeeze. The action — driven by retail traders often using options — has spread to other names like BlackBerry (BB), AMC Entertainment Holdings (AMC), and Bed …