Capital Gains: London Property Hits A New High
Four developments that prove the British capital’s prime market is roaring post lockdown.
4 min
THE BROADWAY, WESTMINSTER
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
GARDEN VILLAS AT REGENT’S CRESCENT, MARYLEBONE
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
80 HOLLAND PARK, KENSINGTON
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
NO. 1 PALACE STREET, ST JAMES’
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
Chris Dixon, a partner who led the charge, says he has a ‘very long-term horizon’
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
Philip Lowe’s comments come amid property industry concerns about pressures on mortgage holders and rising rents
2 min
Leaders in Australia’s property industry are calling on the RBA to hit the pause button on further interest rate rises following yesterday’s announcement to raise the cash rate to 4.1 percent.
CEO of the REINSW, Tim McKibbin, said it was time to let the 12 interest rate rises since May last year take effect.
“The REINSW would like to see the RBA hit pause and allow the 12 rate rises to date work their way through the economy. Property prices have rebounded because of supply and demand. I think that will continue with the rate rise,” said Mr McKibbin.
The Real Estate Institute of Australia today released its Housing Affordability Report for the March 2023 quarter which showed that in NSW, the proportion of family income required to meet the average loan repayments has risen to 55 percent, up from 44.5 percent a year ago.
Chief economist at Ray White, Nerida Conisbee, said while this latest increase would probably not push Australia into a recession, it had major implications for the housing market and the needs of ordinary Australians.
“As more countries head into recession, at this point, it does look like the RBA’s “narrow path” will get us through while taming inflation,” she said.
“In the meantime however, it is creating a headache for renters, buyers and new housing supply that is going to take many years to resolve.
“And every interest rate rise is extending that pain.”
In a speech to guests at Morgan Stanley’s Australia Summit released today, Governor Philip Lowe addressed the RBA board’s ‘narrow path’ approach, navigating continued economic growth while pushing inflation from its current level of 6.8 percent down to a more acceptable level of 2 to 3 percent.
“It is still possible to navigate this path and our ambition is to do so,” Mr Lowe said. “But it is a narrow path and likely to be a bumpy one, with risks on both sides.”
However, he said the alternative is persistent high inflation, which would do the national economy more damage in the longer term.
“If inflation stays high for too long, it will become ingrained in people’s expectations and high inflation will then be self-perpetuating,” he said. “As the historical experiences shows, the inevitable result of this would be even higher interest rates and, at some point, a larger increase in unemployment to get rid of the ingrained inflation.
“The Board’s priority is to do what it can to avoid this.”
While acknowledging that another rate rise would adversely affect many households, Mr Lowe said it was unavoidable if inflation was to be tamed.
“It is certainly true that if the Board had not lifted interest rates as it has done, some households would have avoided, for a short period, the financial pressures that come with higher mortgage rates,” he said.
“But this short-term gain would have been at a much higher medium-term cost. If we had not tightened monetary policy, the cost of living would be higher for longer. This would hurt all Australians and the functioning of our economy and would ultimately require even higher interest rates to bring inflation back down.
“So, as difficult as it is, the rise in interest rates is necessary to bring inflation back to target in a reasonable timeframe.”
Chris Dixon, a partner who led the charge, says he has a ‘very long-term horizon’
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
