savills london journal

Trophy homes are in aclass of their own

KEYS TOSUCCESS

Exclusive gardens that arethe envy of the world

GREEN ACRES

A taste for the high life

UP, UPAND AWAY

SAVILLS

AS MUCH AS YOU DOwe love LONDON

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To find out

HOWPROPERTY PRICES

have changed in yourarea over the last

5 YEARSand what we’re

they will be in thenext 5 years,

FORECASTING

go to savills.co.uk/london-property-map

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Not only is it a capital that attracts investment from all cornersof the world but it continues to be a city where people across theglobe want to live. London remains unrivalled in terms of itsdistinguished architecture, long and fascinating history, richcreative culture and an infectious enthusiasm for life.

We at Savills feel privileged to work in London. We love theway ancient and modern blend seamlessly, the past and thepresent bouncing off each other to such compelling effect. If youwant to feel at the epicentre of twenty-first century living, thenyou must establish roots in London.

But you’ll be spoilt for choice – and that’s wherewe come in. Savills is uniquely placed to offer a comprehensive,professional and discreet service to our clients. In the last decadealone, we have doubled our network across London, with 25offices, all providing a sales and lettings service, as well asoffering services that go far beyond the realm of property.

I hope this Journal will give you a taste for London and adeeper understanding of Savills. We look forward to workingfor you and with you in the near future.

JONATHAN HEWLETT

LONDONKNOWSNO BOUNDS

savills.co.uk 3

Welcome

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6 Talk of the townNews, views & perspectivesfrom the capital

13 Keys to successA trophy home is theultimate prize with all therequisite fixtures and fittingsfor smart living

18 Bohemian rhapsodyMidtown is attracting a newgeneration of artists, writersand creative warriors

21 East side storyHow east London is givingthe west a run for its money

22 Enchanted gardensLondon’s private squaresoffer safety, exclusivity andcharm to key-holders

26 Tales from theriverbankProperty to suit everybudget and style

28 The villages ofLondonThese distinctive areasprovide a perfect blend ofcity style and country living

32 Generation rentRenting has become afashionable way of life formany Londoners

34 High societyLofty living and impressiveviews are attractinginternational and localbuyers alike

37 Lords of the manorThe great estates, owners ofmuch of London’s desirableproperty, are true championsof the urban environment

40 Bolting on a bolt holeWhen London gets toomuch city dwellers breakfor the border

43 GazetteerA guide to the key residentialareas from our experts

50 DirectoryWith over 500 offices andassociates worldwide, Savillsis at the heart of the globalproperty market

The London Journal is published on behalf of Savills UK Ltd by Casella Productions Ltd. All information correct at time of going to press. All rights reserved. Articles may not be reproducedwithout written permission from the publisher. Opinions expressed are those of the author and not Savills or the publisher. While every care is taken in compiling content, neither the publishernor Savills UK Ltd assumes responsibiity for effects arising from this publication. Property Misdescriptions Act: Savills recommends that applicants discuss their interest in a property with thenegotiator who can answer more specific questions and advise if it is under offer. This is especially important if you are contemplating travelling some distance to view the property. Alldescriptions, dimensions, references to condition and necessary permissions for use and occupation, and other details are given without responsiblity, and any intending purchasers or tenantsshould not rely on them as statements or representations of fact, but must satisfy themselves by inspection or otherwise to the correctness of each of them. Investment Advice: The infomationand opinions contained in this magazine do not constitute professional advice and should not be relied upon. Specific advice relating to your individual circumstances should be obtained.

CONTENTSWe love London’sinfectiousenthusiam for lifeand the fact thatno matter howlong you’ve livedhere there’s alwayssomething newto discover

4 savills.co.uk

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“I’ve lived in London for nearly 25 years and it’s long been the inspiration for my prints. Thereare so many iconic landmarks dotted across the capital and an ever-changing ‘cityscape’ to drawfrom, where the industrial past rubs shoulders with the boldest and brashest of the present. Forme, it’s not about the conventional tourist spots but the buildings that are loved by Londonersthemselves - the Brutalist monuments of the South Bank, or Erno Goldfinger’s high-rise blocks,or its disused power stations and gas towers. There’s always a list of buildings bubbling away inmy head that I’d love to capture in my work.,” says Paul Catherall, a London based printmakerand illustrator, famed for his bold linocuts of architectural landmarks. www.paulcatherall.com

LONDONtheartof

savills.co.uk 5

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“The wonderful thingabout living in centralLondon is being ableto walk everywhere.Most cities are

horribly homogenised,but there are still littlevillages here withtheir own lovely

quirky characteristics.”OLGA POLIZZI,

DIRECTOR OF DESIGN,ROCCO FORTE HOTELS

“London is amagnificent citystate, whichyou leave atyour peril.”SARAH SANDS,

EDITOR, EVENINGSTANDARD

“London has inspiredeveryone from

Mahatma Gandhi toJimi Hendrix,

Sigmund Freud andClaude Monet. Itbrings together thepeoples of the worldin the most tolerantand inclusive place.”

TOM JONES, AUTHOROF TIRED OF LONDON,

TIRED OF LIFE

WHY I LOVE LONDON WHY I LOVE LONDON WHY I LOVE LONDON

“We lead the world inbusiness, have anamazing cultural

offering and are oneof the greenest citieson the planet. But a

city is nothingwithout its people andthe diversity, creativityand welcoming spirit

of Londoners issecond to none.”BORIS JOHNSON,

MAYOR OF LONDON

“London’s accolade asa safe haven forinvestors is well

deserved. For thosewho work in the City,the time zone, its

position as Europe’sfinancial centre andthe quality of familylife are all big draws.”

JUSTIN MARKING,HEAD OF SAVILLS

RESIDENTIAL

PRIME NUMBERS

Live here and there aremore multi-millionaires(individuals worth over£19m) than any other

city in the world

MILLION8.1 London covers

607 sq miles,making it thelargest urbanarea in Europe

607The London

Underground, which isthe oldest in the world,

has 270 stations

270There are 8 RoyalParks, covering5,000 acres withroughly 135,000

trees

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News, views & perspectives

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“It’s one of the mostsophisticated places

to live in theworld – it’s steeped inhistory and cultureand it has greatschools anduniversities.”

WILLIAMDUCKWORTH-CHAD,DIRECTOR OF SAVILLS

WHY I LOVE LONDON WHY I LOVE LONDON WHY I LOVE LONDON

“The thing that makesLondon great is itsmulti-cultural face.

Now peoplepromenade in Londonas they’ve done on theContinent for years.They dress to be seen,sit in cafés and bars.It’s a theatrical place.”

PADDY RENOUF,LONDON INSIDERAND TOUR GUIDE

“My friend Alan says,‘North London: born,live, die.’ And he’s

right. I live in KentishTown and can walkover the Heath to

Hampstead for tea in20 minutes. Panzer inSt John’s Wood doesthe best bagels in

London.”GILES COREN, FOODCRITIC & COLUMNIST

“I love London notjust for its riches butfor its rich rubbishlike the bronzehelmets that are

washed up from dark,Thames mud. InLondon you arealways in good

company, whether it isdead or alive.”

BETTANY HUGHES,HISTORIAN

“From art to fashion,from money to music,from dance to debate,from shops to shapes– London has it all.And once you’ve gotthe ‘famous bits’ outof the way you can

appreciate and explorethose parts that reallymake London great.”RICHARD QUEST, CNN

PRESENTER

PRIME NUMBERS

The number of StPaul’s Cathedralsthat could fitinside the O2

10 MILLION

Kensington PalaceGardens, W8 is theUK’s most expensivestreet. Homes herecost an average £19.2million – 93 timesthe national average

£19.2People from overseasvisited the capitallast year, spending

over £8.6bn. It’s alsohome to more overseasbanks than any otherinternational city

MILLION15.2

Languages arespoken by schoolchildren alone

300

In the next 20 yearsthe number of

households in the cityis expected to grow by

nearly 700,000

700,000

savills.co.uk 7



HOUSEPROUDLincoln’s Inn Fields is home to the SirJohn Soane museum.The influentialarchitect, who was responsible forTheBank of England, Royal HospitalChelsea and Pitzhanger Manor, designedthis house and decreed that it should beopen to the public as a museum after hisdeath. Soane was a great collector andthe house is stuffed full of paintings,antiquities, sculptures, furniture and evena crypt complete with tombs andmummies. On show is the magnificent“Laughing Cavalier” by Van Eyck andpieces from Egypt and Greece (there areover 700 in his collection). You can alsosee the architectural sketches of Soane’sLondon landmarks.The museum is openTues-Sat from 10am-5pm, and on thefirst Tuesday of every month it is lit bycandlelight from 6-9pm. soane.org

The Estorick Collection of Modern Italian Art, housed in aGrade II listed Georgian house in leafy Islington, holds whatSir Nicholas Serota, Director of the Tate, calls “one of thefinest collections of early twentieth century Italian artanywhere in the world”. A great body of work here is by theItalian Futurists, including pieces by Giacomo Balla andGino Severini. Amedeo Modigliani and theSurrealist Georgio De Chirico are representedtoo. There are six galleries, regular exhibitionsand a café. Open Weds-Sat 11am-6pm; Sun12-7pm. estorickcollection.com

MADE IN ITALY

TOURISTS FLOCK TO LONDON’SGREAT MONUMENTS AND MUSICHALLS BUT LESSER KNOWN

VENUES ARE OUT OF THIS WORLD

HiddenTREASURES


8 savills.co.uk


Discretion, expertise and serviceare the watchwords in SavillsPrivate Office. Established fiveyears ago under the expertdirection of David Forbes, it isthere to assist international, highnet worth individuals with interestsin property.Forbes has 30 years experience

in property. He is extraordinarilywell-connected, and well-travelled.This year he has been to Turks andCaicos, Italy, Spain, New York,Panama, Brazil, Dubai, Abu Dhabi,Sweden, Qatar, Singapore,Bangkok,Hong Kong and KualaLumpur to meet with clients.Travel is in his blood. After

Eton, he spent 5 years serving asan officer in the Gurkhas; he thenworked and lived in Malaysia,

PICTURE PERFECTThe Dulwich Picture Gallery, the first to bepurpose-built in the UK, was designed in1811 as a series of interlinking rooms

illuminated naturally through skylights. It’s abeautiful space in which to display one ofthe finest collections of Old Masters in the

world, including important works by Rubens,Rembrandt and Van Dyck. It also has aprogramme of exhibitions. Open Tues-Fri

10am-5pm; Sat-Sun 11am-5pm.dulwichpicturegallery.org.uk

SOUND OF MUSICLISTEN TO PERFORMANCES BY

THE ROYAL COLLEGE OF MUSIC’SBRIGHT YOUNG STARS IN THE

BRITTEN THEATRE OPERA HOUSE.IT IS EXQUISITE AND TICKETSARE A SNIP. THERE’S ALSO AMUSEUM OF MUSIC WITH

INSTRUMENTS DATING FROMTHE FIFTEENTH CENTURY,

FROM THE WEIRD, ACONTRABASSOPHON, TO THE

WONDERFUL, TROMBONES OWNEDBY ELGAR AND HOLST.

RCM.AC.UK

Meet David Forbes, Head of Savills Private Office, who advisesclients on every aspect of their property requirements

AT YOUR SERVICE

Brunei, Singapore, Hong Kong,Thailand and Nepal.“Whether you’re looking for a

private island in the Caribbean or astudent flat for your children inEdinburgh, a ski chalet in the Alpsor an investment in Nine Elms, weare here all day, every day, not onlyto advise on purchasing but on anyproperty related issue, from runningthe Olympic Village to operating anightclub, from managing a sportingestate to sorting out a polluted troutstream. It is these ‘value adds’ thatmake our service indispensable at alllevels,”he says.For the impeccably connected andconfidential services of thePrivate Office, contact David Forbeson +44 (0) 20 7824 9001or [email protected]


savills.co.uk 9


Millions of Londoners jump onthe Tube each day. It’s asmuch a part of the city as the

bright red buses, Buckingham Palaceand Boris Johnson. A feat of Victorianengineering, the Underground is theoldest subterranean railway in theworld and this year marks its 150thanniversary. The first journey took placeon 9 January, 1863, along the threeand a half miles between Paddingtonand Farringdon on the Metropolitanline. It was a slow moving two and ahalf hour trip, with the train travelling atspeeds well below 20 mph. In thosedays there were leather seats in FirstClass. It was instantly popular – 40,000people used it on the first day. The DailyMail swiftly named London’s newtransport system the Twopenny Tube.

1835 1840 1845 1850 1855 1860 1865 1870 1875 1880 1885 1890 1895 1900

The old ones are not always the best but these renowned hotels have stood the test of timeHOTELS WITH STAYING POWER...

1 8 3 7BROWNS

The Hellenic Suite,£2,950 per nightbrownshotel.com

1 8 6 5CHARING CROSSSuites from £490 per

nightguoman.com/charingcross

1 8 7 3ST PANCRAS

RENAISSANCE(as Midland Grand Hotel).

Royal Suite, £12,000 per nightmarriot.com

1 8 8 4ANDAZ

(as Great Eastern Hotel)Andaz Large Suite,

£330 per nighthyatt.com

1 8 8 9THE SAVOY

The Royal Suite, from£12,000 per night

fairmont.com

1 8 9 9THE LANDMARK LONDON

(as Great Central Hotel)Presidential Suite, from

£4,200 per nightlandmarklondon.co.uk

1 8 5 4CLARIDGES

The Davies Penthouse,£8,280 per nightclaridges.co.uk

1 8 6 5THE LANGHAM

The Infinity Suite,£12,000 per nightlanghamhotels.co.uk

1 8 7 9THE

CONNAUGHTThe Apartment, starts

from £10,800 per nightthe-connaught.co.uk

1 8 8 8THE CADOGAN

HOTELTwo bedroom suite

from £1,050 per nightcadogan.com

LOVE IT OR LOATHE IT, THE LONDON UNDERGROUNDHAS REACHED A MAJOR LANDMARK

STILL ONTRACK

The concept and design of the Tube hasbeen copied in cities all over the world.And it continues to expand. Workbegan on Crossrail in 2011. Set toopen in 2018, it is Europe’s biggest,most expensive construction project.During 2012, 1.7 billion people rodeLondon’s multi-lined, 249 mile longnetwork. Yes, sometimes it’s late or evencancelled, but London’s Tube keeps thecity connected and resolutely on themove. Shame about the absence ofthose comfy leather seats.

10 savills.co.uk



The Design Centre, Chelsea Harbour is a one-stop shop toequip the very smartest of homes - and yachts. Right on the river,beside the iconic Lots Road Power Station, the light-filled spaceoffers more than 500 of the world’s most sought-after brands. Fromartisan floor coverings by Tim Page, Stark and Tai Ping to sublimewall decoration by Fornasetti and Vivienne Westwood at Cole &Son and graphic textiles in Zinc and Leff Jofa. It’s all here.NicholasHaslam Ltd is Chelsea Harbour’s first store curated by an interiordesigner and includes everything from furniture to exquisitefinishing touches. You can gain inspiration from the bookshopstocked with design tomes and take it all in over coffee beneath theSouth Dome. Light refracts off the giant ceiling pendant andmeetings are held at the glass-topped tables.Close by on Lots Road(and corner of King’s Road) is the Furniture Cave, a gloriouswarren of goodies: furnishings, sculptures and curios (Chinesekilims, leather horses,vases) from a variety of dealers.For somethinga little scruffier around the edges, cross the river to Vauxhall andenter the intriguing salvage and antiques yard, Lassco, replete withold Parisian cupboards, quirky door pulls, cast iron radiators,chandeliers, iconic advertising and art deco furniture.

A MAN FOR ALL SEASONSMarkets ebb and flow but Lindsay Cuthill keeps his hand firmly on the tiller

and ensures that clients make the right choices at the right time

DESIGNED FOR LIVING

Buying a house is not justa matter of choosing aproperty and paying for

it. For many people, it is part ofa far wider, long-term strategy todo with quality of life for themand their family and ensuringtheir future financial security.

That’s where Lindsay Cuthill,Head of region for south westLondon, comes in. Withmore than 30 years ofexperience, Lindsay is ideallyqualified to offer clientssound advice, helping themto make decisions based ona proper analysisof the current market and athorough understanding of theirpersonal circumstances.

“I aim to give people a wider

view, based on their needs, abroader perspective. Sometimesthis means telling a client thatthey should not be selling nowbut waiting a couple of years,”says Lindsay,.

“I take the view that if youlook after a client properly he orshe will come back to you.”

Lindsay has been sellinghouses since the early 1980s.He worked for George Steadorginally until Savills acquiredthat agency in 1996. Since thenhe has been based in Fulham,where he also lives, just offParsons Green.

He has a forensic knowledgeof the area and is regarded byhis peers as being unrivalled atspotting highs and lows in the

property market before theyhappen. “I thoroughly enjoy thepersonal contact with clientsand the trust that comes with it.

“Recently I went to see acouple who were looking tomove without considerablyincreasing their overall investmentin property. I happened to knowthat a new development wasbeing built in the area andthat it would have a positiveimpact, and so I was able to tellthem they should stay put andhold tight.”

So what is one of Lindsay’sgreatest strengths after so longworking for Savills?

“My feet are planted veryfirmly on the ground,” he sayswithout hesitation.

From furniture tofinishing touches,the Design Centreat ChelseaHarbour offers thestyle-conscious homeowner the very bestinterior brandsunder one roof

LINDSAYPROVIDESA LONG

TERM VIEW

savills.co.uk 11



HOUSE “It might be a cultural thing but wewould never consider a flat. Flats are forpeople in transition. One of the key factors isthat we are used to freehold not leasehold. Iwant to feel we are in complete charge ofwhere we live. Aesthetically, I feel hemmed inby a flat. I don’t believe you get that samesense of space.The options are broader if youlive in a house: you can do a loft conversion ordig out the basement, and add space andvalue, to your home.Having a proper outdoorarea is important to us. Our garden is nothuge but it’s big enough to sit six people fordinner in the summer. I feel more integratedinto our local community, more involved,more at the centre of things. I do find it anuisance that I can’t always park outside mydoor and, yes, it would be nice to know there’sa doorman to take care of deliveries but youcan’t have everything! MissT,Chelsea

PRICES OF FLATS IN PRIME CENTRAL LONDON HAVE RISEN TOAROUND £5,000 PER SQ FT. AND WHEREAS IN THE PAST IT WASMAINLY PEOPLE FROMOVERSEAS WHO TENDED TO FAVOURFLATS OVER HOUSES, TODAY, MORE AND MORE BRITISHBUYERS ARE FOLLOWING SUIT. WILL THIS TREND CONTINUE?AND WHAT ARE THE ADVANTAGES OF LIVING IN A FLAT RATHERTHAN A HOUSE? HERE, TWO RECENT PURCHASERS PUT THECASE FOR THEIR PERSONAL PREFERENCE…

Quilon: quilon.co.ukBuckingham Gate might soundan unlikely destination forSouthern Indian food, but if youlike fragrant curries, steamingparathas and delicate fish thenQuilon is the place. The interioris every bit as elegant as India’sfinest hotels.

Lima: limalondon.comCeviche, suckling pig, piscosours – this tiny restaurant onRathbone Place celebratesPeruvian cuisine. It’s the work ofculinary creative, Chef VirgilioMartinez, and it features allthings Peruvian, including art byPeruvian artist Juan Bautista.

Duck and Waffle:duckandwaffle.comFind food with a view 24 hoursa day atop the Heron Tower. TheDish of the Day is duck andwaffle, of course, with duckconfit, fried duck egg, waffle andlashings of maple syrup. It’sweirdly wonderful.

Brasserie Zedel:brasseriezedel.comAn unexpected treat, a yawningArt Deco/Beaux Arts spaceserving food with typical Frenchflair in a lively atmosphere. Thefood is traditional, and delicious,the setting transporting. Bang inthe middle of the theatre district.

You can eat spectacularly well in London. The flavour at these quirky establishments is distinctly internationalDISHES that dazzle

ORHOUSE?FLAT

“I love the classicLondon townhouse,and those in goodareas are gettingbetween £2,000-£3,500 per sq ft,”says Barbara Allen,Savills Director ofprime centralLondon house sales.

“Flats arefashionable,sought-after andhighly desirable,with the fullyserviced flat settingthe gold standard,”says Alex Christian,Savills Director ofprime centralLondon flat sales.

FLAT “My husband and I have becomeconverts to flats.We are both in our 50s, bothwork in London and both have busy sociallives.When we were younger we always livedin houses but then we visited some friends whohad spent most of their lives in a mansionblock.They started telling us about their valetparking, the 24-hour concierge service, thehigh level of security. And suddenly it all madesense.My husband thought he would miss nothaving a garden but in fact we rarely sat out inour London garden. Now we have a prettybalcony with great views – and I enjoy lookingafter a few colourful pots. We find life is easierliving in a flat.The communal areas of thebuilding are not our responsibility and we likethe idea that someone else will sort out a newroof when the time comes.We travel abroadquite a lot and it’s so easy just to lock the flatup and go.” MrsH-S,Kensington


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For the man or woman who has everything there is always room forsomething a little extra in the world’s most sought-after capital

WORDS CAROLINE MCGH I E

SUCCESS

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The wealthy who want toinvest in London realestate and savour thehighlights of the city arealways in search of the

ultimate prize: the trophy home. Homesin prime spots in the capital, whichrepresent wealth and status as well as asafe haven in a troubled world, come withasking prices running into many millionsof pounds.From the grand stucco mansions of

Kensington Palace Gardens to the minipalaces of Hampstead’s Bishop’s Avenue,standards and expectations among highnet worth individuals are rising inexorably.“The world has got smaller and taste

has gone global.The quality of finish hasincreased in step with wealth,” saysJonathan Hewlett, Head of LondonResidential at Savills. “People expectbrand name designers, celebrity architects,brilliant locations, services, smart buildingmaterials, rare marbles and stones. Theywant instant gratification, absolute luxury,and they are prepared to pay for it.”This spectacular five bedroom duplex

in Chesham Place, beautifully interiordesigned by Candy & Candy andoverlooking one of Belgravia’s finestprivate gardens, epitomises everythingwealthy buyers are looking for in a primeLondon property.A trophy home is likely to be just one

part of a portfolio of properties fromaround the world. High net worthindividuals are likely to have additionalhouses in other financial capitals such asNew York or Geneva, as well as holidayhomes in beachside or ski resorts.“But London will be the hub, partly

Trophy homes

14 savills.co.uk


TROPHY HOMESMUST BE IN THEBEST LOCATIONSAND CREATE A

STAGE FOR LAVISHENTERTAINING

because of the beneficial time zone andthe educational excellence it can offer,”says Jonathan.So,what must the finest homes provide?

They must be in the best locations, bearchitecturally impressive and create astage for lavish entertaining. They musthave a chef ’s kitchen as well as a domesticone and space to house staff – or at least astaff day room with lockers. A separationbetween public and private space needs tobe factored in, as does an awareness ofsecurity. People like to step from car tohouse without being seen by others.

savills.co.uk 15


Family life is important, too.This meansteenage rooms, media centres and cinemascreens, as well as gyms and pools thatprovide leisure and pleasure space. Somebuyers like to have access to six-star hotelservices, including concierge and sportsfacilities such as those offered bydevelopments like One Hyde Park, TheKnightsbridge andThe Lansbury.

“It’s all about the ease of life,” saysJonathan. “A trophy home needs tofunction like a mini boutique hotel.”And the choice of area is broad in the

capital.There are special homes, from thegrand to the historic and the eccentric, allover the city. Even among the Victorian

CHEF’S KITCHENWINE VAULT AND BAR

PRIVATE UNDERGROUND PARKINGMEDIA/CINEMA ROOM

GAMES ROOMSPACIOUS BEDROOMS

LAVISH ENTERTAINING SPACESEPARATE FAMILY ROOMS

TEENAGE ROOMSDEDICATED SPACES FOR EVERYTHING

INDOOR POOLSPA AND STEAM ROOMSOUND-PROOFED GYM

PRIVATE TERRACESTAFF DAY ROOMWITH LOCKERS

GUEST/STAFF APARTMENTPANIC ROOM

24 HOUR SECURITY AND CONCIERGE

21ST CENTURYFIXTURES & FITTINGS

LiveTHE DREAM

houses of south west London, there aretrophies waiting to be claimed. OnClapham Common, for example, Savillsrecently sold Grade II listed Wren Housefor just over £7 million. And inWimbledonThe Old Rectory, with amplegarden and gatehouse, is on the market at£18 million. In north London, thesmartest homes are around Bishop’sAvenue, Hampstead, in leafy St John’sWood, or in the terraces and villas ofRegent’s Park.One Hanover Terrace is onthe market at £21 million.

21 CHESHAM PLACE, BELGRAVIA SW1.PRICE ON APPLICATION

16 savills.co.uk


Whether newly built or beautifully refurbished, these trophyhomes in prime spots are in a class of their own

LUXURIOUS LIVING

BIG AND BEAUTIFULAvenue Road, NW8An Ambassadorial-style stucco

residence, it has a sweeping

central staircase and a 10-person

lift, together with a pool, sauna,

spa, gym, media room, games

room, wine cellar, catering kitchen,

and a concealed car lift to a car

park with space for 5 cars.

Price on application.

Stephen Lindsay

Savills St John’s Wood

+44 (0)20 3043 3600

[email protected]

MODERN CLASSICManresa Road, SW3A unique first floor duplex in one of

the most highly regarded buildings

in Chelsea. It has exceptional open

plan entertainment areas, a private

gym, a staff flat, a terrace and

access to a large communal

garden. It has 24-hour security,

porterage and underground

parking. Guide £39,500,000.

Ben Morris

Savills Knightsbridge

+44 (0)20 7590 5065

[email protected]

ON A GRAND SCALEBrick Street, W1A truely exceptional low-built

house tucked away in the heart of

Mayfair offering over 16,500 sq ft

of accommodation built round an

internal courtyard. There are 7

bedroom suites, a cinema, bar and

games room, pool, gym, solarium,

underground garage and a roof

garden. £20,000 per week.

Mark Tunstall

Savills Knightsbridge

+44 (0)20 7584 8585

[email protected]

Trophy homes

savills.co.uk 17


BOHEMIANrhapsodyFitzrovia, Bloomsbury, Holborn – welcome to Midtown, a swathe of

London attracting a new generation of artists, writers and creative warriorsWORDS MARK PALMER

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The best of all worlds is atantalising proposition.But when it comes toprime property in asublime London location,

the choices are often limited. What’sneeded are new frontiers – or,more to thepoint, the rediscovery of areas that havealways been there but tended to beoverlooked and undervalued.Which brings us to Bloomsbury and

Fitzrovia. Bohemian, creative, edgy,contemporary and, crucially, with a high

proportion of beautiful Georgianbuildings ready to make perfect familyhomes, these two London villages arebeginning to take on a momentum all oftheir own.Together they make up what isnow known as Midtown, and Sir TerryFarrell, the award-winning architect, haslikened it to the revival almost 20 yearsago of New York’s East Village. An easycomparison to make in an off-the-cuffremark, perhaps, but Sir Terry has goneone further by producing a vision for thearea in the form of six mini masterplans

to preserve the best of the past andfurther enhance its reputation as a leadingcultural and educational quarter.Midtown broadly runs from Euston

Road in the north to almost The Strandin the south and from Farringdon Roadin the East to Tottenham Court Road inthe west. “Midtown has just not been onpeople’s radar as a place to live,” saysCharles Lloyd of Savills Mayfair.“I would say that Fitzrovia in particular isabout where Marylebone was 15 yearsago, when there were lots of

New frontiers

savills.co.uk 19


wholesale fashion companies and onlyabout two restaurants. Look at it now.”

Fitzrovia is a short walk to Regent’sPark but also a gentle saunter toRegent Street. It has bustling

Oxford Street on its doorstep and gutsySoho further south. And, significantly, ithas a brand new development underconstruction that has imbued the wholearea with a sense of anticipation.Fitzroy Place, as it is called, comprisesthree residential blocks with 235 luxuryapartments in a variety of sizes, with anastonishing 90 different floor plans fromwhich to choose.Superbly positioned in Mortimer

Street, this ambitious scheme is beingbuilt around the first new London squareto grace the city in more than 100 years.In addition to residential homes, therewill be office space, retail outlets and amembers-only club complete with itsown cinema, gym and concierge service.Look out for high ceilings that reflect

the area’s famous Edwardian mansions,combined with simple lines and the freshthinking of modern design.The ambitionof the developer is to create somethingunique but a scheme that pays homage toan area rich in creativity.Ian McEwan set his acclaimed novel,

“Saturday”, in Fitzroy Square and GuyRitchie shot part of “RocknRolla” in

nearby Charlotte Mews,which also madean appearance in the Beatles 1960s movie,“A Hard Day’s Night”.Fitzrovia has a musical tradition, too.

Pink Floyd, Jimi Hendrix and Bob Dylanall played in the area before going on toachieve international fame and fortune.And you don’t go hungry in Fitzrovia. Itcan claim to be one of the culinarycapitals of the world.Bloomsbury already has a literary ring

to it. It was home to that fascinating circleof pre World War Two, free-thinkingwriters “who lived in squares and loved intriangles”. Virginia Woolf had a housethere and so did John Maynard Keynes,the great economist, along with thepainters, John Constable and AugustusJohn, the poet DylanThomas and writersGeorge Bernard Shaw, Charles Dickensand George Orwell.“It is a place that people want to

explore and it offers remarkable valuecompared with its neighbours to the westor south,” says Charles. “It feels differentto traditional parts of London, with agreat mix of people and businesses.”But it is also the change of use from

businesses to residential homes that hasgiven Bloomsbury a spring in its step,both in the sales and lettings markets.Take, for example,Bedford Square,whichhas long been dominated by offices.

“These Grade I buildings do notalways lend themselves to modernoffices,” says Charles. “You can’t put in airconditioning or make open plan workplaces. We are seeing a lot of thesewonderful buildings being convertedback into residential homes – and theyare simply beautiful.”

Fitzroy Place is one of the most significant developments in Fitzrovia for over 50 years. Itcomprises 235 apartments ranging from one bedroom flats to double-height duplexes, groupedaround a new public square. The residents will benefit from a full range of services including a24 hour concierge, 20 seat private cinema, fully-equipped gym, residents lounge, club room,private dining room and kitchen, business lounge and meeting rooms, underground parking andstorage. Completion of the project is scheduled for late 2014, with 80 per cent already sold toUK and international buyers. Prices start from £950,000, rising to £15m.

FitzroyPLACE

FITZROVIA ISABOUT WHERE

MARYLEBONE WAS15 YEARS AGO

New frontiers

20 savills.co.uk


East London used to be asecond choice. It was whereyou lived if you could notafford the more salubrioushoneypots of Chelsea,

Hampstead or Belgravia. How timeschange. Thanks to improved transportlinks, the London Olympics legacy, aburgeoning financial services sector andthe arrival of high-tech industries, eastLondon has scrubbed itself up and isready to do business.

Take Islington for example in northeast London. Now a destination in itself,it is also just a walk from the City,Clerkenwell, Bank and the fashionable“Silicone Roundabout”, otherwise knownas Old Street, where many of the world’stop internet service providers and web-based firms have set up shop.“Islington used to be as far ‘east’ as

many buyers would venture, but now it’sjust the start of an expanding easternzone,” explains Paul Williams of SavillsIslington and an agent with 25 yearsexperience of property in east London.He describes this zone as “proper

London” with a mix of new homes, flatsconverted from period houses, Victorianterraced family homes and £5mmansionson Georgian squares. “Connectivity hasimproved hugely in the area,” he says.“Eurostar is now based at St Pancras,Farringdon will be a very popular place tolive when its Crossrail station opens in2018, and large investment in Finsbury

Cockney rhyming slang, proper food markets, improvedtransportation, magnificent Georgian squares – is eastLondon about to give west London a run for its money?

WORDS GRAHAM NORWOOD

STORYeastside

Park’s overground trains means that it isnow one of the capital’s major transporthubs. Today east London is easy to reachfrom anywhere.”The lettings market is another symbol

of the east’s regeneration. Being on thedoorstep of financial services and ITemployment centres has transformed thelandscape. “Five years ago high-end rentsfrom, say, Islington to Clerkenwell lagged20 to 30 per cent behind other London

areas considered more fashionable andmore in demand, like Notting Hill. Nowthey are the same,” says Dan Parker, headof lettings at Savills Islington.High-end homes in the eastern zone

rent at £33 to £46 per sq ft, higher thanmuch of Fulham, Hampstead andSt John’s Wood and even rivalling someareas of central London.Against that backdrop, Dan has seen

increasing interest from three differentinvestment sources. First, more Britishbuy-to-let investors have been acquiringunits; second, institutions and funds arebuying properties in the area and, third,

the number of individual overseasinvestors is on the rise. “The final twosources tie in with Savills residentialdevelopment teams who travel to SouthEast Asia in particular to sell units underconstruction. The buyers often then useus as agents to manage and let out thenew properties they buy,” says Dan.Certainly the new homes sector is

buoyant in east London. Savills isadvising on 14 schemes from Islington toCanary Wharf, with the first set to beoccupied in 2014 and the rest over thefollowing four years.

For property professionals like LaurenIreland, leading the sales and lettingsteams at Savills Wapping and CanaryWharf, this additional supply is likely tobe snapped up rapidly. “Some 80 per centof resale properties we’ve sold in the pastyear have gone to international buyers,and around half of these have been SouthEast Asian. Some buy to let to corporatetenants, others for sons and daughtersstudying in London, others as a pied-à-terre,” she says. The new Crossrail linkwill mean that Woolwich and CanaryWharf will be around 15 minutes fromthe West End and 40 minutes fromHeathrow. “People can have a flat neartheir work,” says Lauren, “yet escape toculture or the airport in minutes.”The property buzz in this thriving zone

is tangible. It can hold its own in anycompany – and that includes the rest andthe best of London.

BUYERS CAN HAVEA FLAT NEAR THEIRWORK YET ESCAPE

TO CULTUREOR THE AIRPORT

IN MINUTES

savills.co.uk 21

New frontiers


Edwardes Square, Kensington, is oneof the most exquisite in London

22-25 London Squares London Journal.indd 2222-25 London Squares London Journal.indd 22 31/05/2013 11:0231/05/2013 11:02

GARDENSenchanted

Nowhere does garden squares like London. Offering solace for grownups and a safe haven for children, they remain as desirable as ever

WORDS CLI VE A SLET

L ondon is a famously greencity. Air passengers en routeto Heathrow know thisonly too well as they flyalong the Thames, looking

down on a cityscape in which roofs androads are broken up with dense blocks ofgreen – the unrivalled London squares.The proportion of tree cover is so high

that this city, one of the biggest in theworld, meets the official definition of aforest.But it’s not a conventional forest, ofcourse. You can stroll through forests;only a lucky few can wander throughLondon’s best squares.These are largely private reserves. For

key-holders living around the squares,they offer safety, exclusivity and charm.Leafy and reposeful, they provide a

refuge from the bustling city aroundthem: a place to read the Sunday papersor play tennis; to organise a picnic or,in some cases, walk the dog. For manyLondon parents, they’re an essentialresource – a patch of green that mighthave been hived from the parkland of acountry house and magically transportedto the middle of the metropolis.“The most desirable place to bring up a

middle class family,” was how the authorand journalist Anne Scott-James,marriedto the cartoonist Sir Osbert Lancaster,put it. “Here small children made pram

friendships,” square-dwelling childrenbeing “the envy of their fellows, whomthey could patronize with invitations toSunday tea.” She was writing in 1977 butthe same observations might have beenmade of the Edwardian period – or today.Squares remain “a very special part of

London,” says Richard Gutteridge ofSavills Sloane Street, who takes EatonSquare as an example. “The GrosvenorEstate looks after these private communalgardens with beautifully manicured lawnsso well.They are a place to relax and enjoy.The south central garden has an all-weather tennis court, while another isreserved for dog-walking. ”From the moment that they were built

in the Georgian and Victorian periods,London’s squares enjoyed a greaterprestige than neighbouring streets. Theywere generally built of a piece, with greatarchitectural flair and weremore imposingterraces than their surroundings.“The demand to live in them is

phenomenal,” says Richard. “Flats andhouses in garden squares command asignificant premium.”The first square was the Duke of

Bedford’s Covent Garden, designed by noless an architect than Inigo Jones in theearly seventeenth century. He had beeninspired by the Place des Vosges in Paris,displaying Covent Garden’s foreign roots

LONDON IS ONE OF THEGREENEST CITIES IN THE

WORLD. SEEN FROM ABOVE,MORE THAN HALF OF IT IS

GREEN. THERE ARE ALLOTMENTS,PARKS AND GARDENS,

MARSHES, ANCIENT WOODSAND, OF COURSE, THE THAMES

FLOWING THROUGH THECENTRE OF THE CITY.

LONDON’S GREAT OUTDOORSIS A PROGRAMME INSTITUTED BY

THE MAYOR TO PRESERVE THEOPEN SPACES OF THE CAPITAL.IT AIMS TO MAKE LONDON A

MORE HEALTHY, PLEASANTPLACE FOR RESIDENTS AND

VISITORS AND ANENVIRONMENT IN WHICHBUSINESSES CAN THRIVE.

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London Squares

savills.co.uk 23


LEAFY ANDREPOSEFUL, THEY

PROVIDE AREFUGE FROMTHE BUSTLINGCITY AROUND

THEM

BEAUTIFUL SQUARES OPEN TO ALLST JAMES’SSQUAREAlthough built in the reignof Charles II, by 1700 itsresidents, anxious to beassociated with the newregime, erected a statue ofWilliam III. A quarter of acentury later, theypetitioned Parliament toclean the “Great SquarePlace,” which was asfilthy…as a commonDung hill.” This actprovided the firstframework for themanagement of aLondon square.

WEST SQUARENear the Imperial WarMuseum, this elegantsquare dates from the1790s. In 1812, theAdmiralty built a telegraphtower that, during theNapoleonic Wars, was partof a system to transmitmessages using shuttersbetween Whitehall andthe Kent coast. CharlieChaplin lived on WestSquare as a young child,as did the chemist J.A.R.Newlands, who devisedthe Periodic Law for thechemical elements.

BERKELEYSQUAREThe Duke of Devonshirebought the land from LordBerkeley in 1696 with theproviso that his view wouldnever be blocked, so thesquare began life as twoterraces, to east and west.The Victorian Plane,planted in 1789, has beenvalued as Britain’s mostexpensive tree, based onits size, health, history andhow many people livenearby. It is worth£750,000 and has acircumference of 6ft.

RUSSELL SQUARECharles Fitzroy Dolldesigned the HotelRussell, a piece ofterracotta crazinessamid the survivingGeorgian terraces. If thearchitecture of the squarehas no unity, harmony isrestored by the squaregarden, which has recentlybeen enhanced, includingthe reinstatement of therailings, removed duringthe Second World War tobuild Spitfires (the metalproved to be wrong andwas dumped at sea).

ST GEORGE’SSQUAREThomas Cubitt, the greatmaster builder of VictorianLondon, was responsiblefor more squares thananyone. This one inPimlico was probably builtto bolster property values.Pimlico was regarded withsuspicion when it was firstbuilt. “For heaven’s sake,my dear,” says awell-wisher in Trollope’s“The Small House ofAllington”, “don’t let himtake you anywhere beyondEccleston Square!”

by describing it as a piazza. Once plantedin English soil, this Continental seedproduced a different kind of square.Other European cities might have been

autocratically planned by absolutistmonarchs or Popes.London,however,wasdeveloped by the various families whoowned the land, on a speculative basis.They did not need to awe theircountrymen, but they were anxious toplease their leaseholders. Rather thanurban spaces for everybody, they becamegardens for the people who lived aroundthem.They followed fashion, particularly,in the late eighteenth century, for thePicturesque Movement. Some were evenlaid out by Capability Brown.There are 300 or so squares across

London. Most of them are, as the termimplies, rectangular, being surrounded onfour sides by straight rows of terracedhouses. But plenty of nuances exist withinthis general specification.“If I had to list the top 10 communal

square gardens,” observes Johnny Fullerof Savills Kensington, “Edwardes Squarewould have to be on the list. Being such abeautiful place for children makes itespecially sought after by families.”Begun in 1811, this square might havebeen demolished in the Edwardian period

if its residents had not risen up against thethreat, as a result of which an act to protectLondon squares was introduced in 1906(strengthened in 1931).A wonderful book“London’s Hidden Jewel”* celebrates its200 years of life. Nearby, KensingtonSquare, one of the earliest, having begunlife in 1685, is loosely textured, with aCarmelite convent as well as houses.Charlie Bubear of Savills Chelsea

describes Onslow Square as “a magnet forinternational buyers. It is very pretty,very quiet and some of the houses haveboth enormous terraces at the back andgenerous balconies at the front. Thepredominant freeholder is the WellcomeTrust, who maintain a high standard.”Notting Hill, meanwhile, offers the

enchantment of communal gardens thatare completely hidden from the outsideworld. It’s as though the square had beenturned inside out, so that houses havetheir backs to the gardens, not their fronts.This is special to the area and, according toOli Lurot of Savills Notting Hill, “hugelysought after by families. Several of thesegardens have climbing frames, as well astennis courts.”London’s squares offer the best of life in

the capital.They are unique – and the envyof the world. *F

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London Squares

24 savills.co.uk


LANSDOWNE ROAD, W11Exceptional house with private garden and access to prestigious communal

garden. Price on application. Savills Kensington +44 (0)20 7535 3300

EATON SQUARE, SW1Superb first floor 3 bedroom apartment on Belgravia’s most sought-after

square. £9,500 per week. Savills Knightsbridge +44 (0)20 7584 8585

COLLINGHAM ROAD, SW5Wonderfully spacious 4-5 bedroom apartment with 2 roof terraces and access

to communal gardens. £4.5 million. Savills Chelsea +44 (0)20 7578 9000

ONSLOW SQUARE, SW7Immaculately presented 5 bedroom duplex with magnificent garden views.

Price on application. Savills Sloane Street +44 (0)20 7730 0822

GROSVENOR SQUARE, W1A lateral two bedroom apartment in a portered building in the heart of Mayfair.

£4.95 million. Savills Mayfair +44 (0)20 7578 5100

EGERTON GARDENS, SW3Elegant 2 bedroom duplex overlooking beautiful communal garden.

£1,995 per week. Savills Knightsbridge +44 (0)20 7584 8585

London’s communal garden squares provide a green sanctuary for residents

THE GREAT OUTDOORS

London Squares

savills.co.uk 25


The river made London. Itspath informed theRomans’ decision to buildthe city 2,000 years ago.Since then, the Thames

has been the capital’s main trade andsupply route. It plays a continuing role inthe city’s prosperity, and a symbolic rolewhen it comes to pomp and ceremony.To mark the Queen’s Jubilee last

summer the water came to life with craftfrom around the world, its banks linedwith cheering crowds.The scene recreatedthe Venetian artist Canaletto’s famousdepiction of Lord Mayor’s day, painted

over 260 years ago. Colourful river anticscontinued when David Beckham swishedalong the Thames by speedboat to deliverthe torch to the Olympic OpeningCeremony.The river lends itself to specialoccasions, but there are regular sportingevents too. The Boat Race pulls a crowdevery year, representing amateur sport atits gruelling best. Lycra clad Londonerslope along its banks. Thousands pouracross its famous bridges each day – somecommute along it. Others journey beneathit, crossing via the RotherhitheTunnel, theworld’s first tunnel under a navigable river.The Woolwich ferry still offers a free

The Thames is constantlychanging and forevercaptivating – and nowthere are places to live

along its banks to suit allbudgets and tastes

WORDS J ENNY COAD

RIVER BANKtales from the

BatterseaPowerStation

Richmond

Park

RoyalAlbertHall

26 savills.co.uk

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service connecting Woolwich and NorthWoolwich, a route that has been inoperation here since the fourteenthcentury. A river view on a sunny day, evena grey one, is enough to lift the spirits.Little wonder, then, that propertyoverlooking this significant artery hasbecome so immensely sought after.

“Historically the London residentialmarket turned its back on the Thames,"says Dominic Grace, Savills Head ofLondon Residential Development. “Itwas industrial and in places down at heel.Now, the picture couldn’t be moredifferent – few riverside sites areundeveloped on either bank and riverviews command premium prices, up to 40per cent or more.”Sarah Gretton of Savills Waterfront

team agrees: “The variety of riversideproperty attracts every sort of buyer, fromfamilies and investors to international

buyers and tenants. From the high-riseglamour at Riverside One in Battersea tothe elegant Grade II listed villa with itsboathouses at Friars Lane, Richmond, theriverside offers a convenient yet tranquillifestyle that will appeal to anyone.“Attention is currently focused on the

new developments in Battersea andVauxhall that offer a chic, lock-up-and-leave lifestyle with 24 hour security, secureunderground parking and convenient on-site facilities," Sarah says.

“The ultimate riverside address is still

Cheyne Walk in Chelsea,” says Dominic.“Nowhere else has yet achieved thatcachet. South of the river, in Battersea, thestriking glass Montevetro, designed byrenowned architect Richard Rogers, andAlbion Riverside, designed by architectSir Norman Foster, are still talked aboutin reverential tones.“Canary Wharf, which offers both river

and dock side property, is something of asleeping giant. It offers good value andwith its buzzing retail offering andproximity to the City, represents twenty-first century living for Londoners.“The River Thames is popular with

every sort of buyer and tenant,” he says.“Everyone is captivated by its etherealquality and the breathtaking river viewsacross London.”

For our range of properties to buy or rent,go to www.savills.co.uk/waterfront

THE VARIETY OFRIVERSIDEPROPERTY

ATTRACTS EVERYSORT OF BUYER

LondonEye

TowerBridge

CuttySark

02

CanaryWharf

StPaul'sCathedral

On the waterfront

savills.co.uk 27

26-27 Tales from River London Journal.indd 2726-27 Tales from River London Journal.indd 27 29/05/2013 11:0029/05/2013 11:00

THEVILLAGESofLondon

Beneath London’s sophisticatedexterior lies a tapestry ofintriguing villages, each withits own distinct character,where a community heart still

beats. Swathes of open parkland, sparklingriverside, individual shops, old-fashionedbutchers and bakers, capacious familyhouses with good schools nearby combinethe best of city and village.The pull of some of these places on buyers,

who want to both live and work in thecapital, has been even stronger in recentyears as international equity and new moneyhas flowed into the capital – £19.5 billion

since 2007 – displacing domestic buyersfrom the prime central London boroughs.“Before 2010 we saw the Champagne

Tower Effect, when wealth flowed out ofLondon into the countryside as youngfamilies decided to move out of the capital,”says Yolande Barnes, Director of WorldResearch at Savills.But as the Brits have sold to international

buyers recently, they haven’t leaped straightto the country with its attendant commuteto and from work. Instead they have chosenthe convenience and accessibility of the bestLondon villages, which also offers themquality of life for their families.

Acres of space, proper butchers and bakers – you don’t have to leavetown to experience quaint and quiet country-style living

WORDS CAROLINE McGH IE

NORTH OF THE RIVERCrouch End, Muswell Hill, Highgate,

Islington, Primrose Hill

SOUTH OF THE RIVERClapham, Wandsworth, Richmond,

Blackheath, Dulwich

PopularVILLAGES

28 savills.co.uk

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“People have been settling in the primeLondon suburbs,” says Yolande. “They areprimarily families who are attracted by thegood sized, period homes with spaciousgardens.These areas offer an easy commuteinto central London, but with the benefitof a neighbourly ‘village feel’,” she adds.“Gentrification always starts with the

British, even in Notting Hill. Then thesavvy Europeans arrive, then the wealthyoverseas buyers come.And that is how thepriming of London happens.”The latest figures show the effect of this

on prime property values in south westand north London, which, according tothe Savills research report “The World inLondon”, are now 17-18 per cent abovetheir high of 2007.Growth has been unprecedentedly

steady over the last three years in thesemarkets and is expected to remain so aftera plateau in 2013. Savills forecasterspredict property prices will rise by around22 per cent by the end of 2017.“In the absence of a significant new

City wealth generation, we expect theseprime outer London locations to beincreasingly reliant on the displacement ofwealth from central London, as well as thenew growing financial services of theWest End and beyond,” says Yolande.Already in Fulham, for example,

international buyers make up 44 per centof the market, compared to just 20 percent two years ago.

Country living

savills.co.uk 29


BARNESBarnes sits beautifully in aloop of theThames whereweeping willows drapethe banks and pubs spillover with drinkers at theweekends. “We sell familyhouses at £2m upwards,” saysSandra Carline of SavillsBarnes. “Most people wantto buy or rent by the duckpond, where mothers taketheir little ones when the sunshines.” Rental values for afamily home range from£700 per week.There arefashion boutiques, grocers,delis, a bookshop, goodrestaurants and a newElectric Cinema is openingin the famous OlympicSound Studios once used by

HAMPSTEADHampstead Heath stretchesover 800 acres with KenwoodHouse at its centre and thefamous pond at the top ofthe village.The village itself isa tight knot of hilltop streetswhere the exteriors of theexquisite eighteenth centuryhouses seem to have hardlychanged since the likes ofKeats, Galsworthy, Orwelland John Constable livedhere. It has always attractedwriters, artists, freethinkersand liberals. Good food andwine are easy to find. Anexotic greengrocer (whichsells out-of-season babyvegetables),Melrose &Morgan and coffee shopslurk in nooks and alleyways.

Clockwise: this elegant Georgian house on Church Row is on the market at £11m;Greenaway Gardens at £12.5m, and Cannon Lane costs £1,800pw to rent

Clockwise: a detached property in Castelnau on the market at £6.5m; popularWestmoreland Road has one for £3.25m, while The Crescent is £2,375pw to rent

the Beatles. Nearby is theWetland Centre, 100 acres ofopen lakes and reedbedswhere Longhorn cattle grazethe banks and thousands ofbirds stop on their migratoryroutes. Each year localsorganise a summer fair onthe village green and in theautumn a food fair, sponsoredby Savills, brings thegourmets. Around 50 percent of buyers come fromNotting Hill and Kensingtonin search of more green spaceand good schools. St Paul’sfor boys andThe Harrodiantop the independents, whilethe Swedish School bringsScandinavian buyers and theGerman School is not faraway in Petersham.

The Everyman Cinema putson blockbusters and art films,the Freud Museum andKeats Library stage thought-provoking lectures.There aredesigner clothes shops forfashionistas, and celebritiesare thick on the ground. “Youneed a budget of £500,000-£850,000 for a two bedroomflat, and family houses startat £2.5m-£5m, which is ourcore market. But you canspend £7m-£15m on amansion quite easily,” saysFrank Townsend of SavillsHampstead.To rent aproperty here you wouldneed a budget of £450-£2,500 per week. Familybuyers are attracted by theschools, especially the preps.

Country living

30 savills.co.uk


Clockwise: this magnif icent property on Church Road is POA; Wool Road, overlookingRoyal Wimbledon Golf, is £3.9m, and Lampton House Close costs £1,875pw to rent

The Battersea, Clapham, Wandsworth corridor has become hugelyaspirational. All three areas wrap themselves around large greenparkswhere families take their baby buggies onSundays and childrencan play with their balls and bikes. When both American and Dutchembassies move to Nine Elms on the south bank, it is likely to add acertain gloss to these already successful areas. “This year a lot moreEuropean buyers have moved in for the schools or because they arepriced out of central London,” says RobinChatwinwho heads up allfour offices. “People find they can get twice as much space for thesamemoney as they could in Chelsea.” Classic Victorian houses andgoodnursery and primary schools keep parents happy. Each area hasits own bustling high street with good butchers and delicatessens,cinemas and restaurants. Househunters need a budget of around£750,000 for a three bedroomhouse, £900,000-£1m for fourbedroomsand£1.2mupwards forfiveormore.“Such is thedemandfor homes in the area that we have just opened a new office onNorthcote Road,” says Robin.

Perfect mix of city styleand country living

BETWEEN THECOMMONS

MARKET DAYS

Maltby Street, SE1 If you find Borough Market toocrowded, head round the corner to the railway arches ofMaltby Street. It’s a gastronomic delight. There’s tapas,coffee, cheese, Little Bird Gin, and much more.

Columbia Road, E2 Diminutive Columbia Road istransformed on Sunday mornings into a frenzy of flowersand foliage. Pick a bunch, stock up on household plants orsimply enjoy the atmosphere.

Greenwich Market SE10 Catch the clipper boat and you’llfind fruit and veg on Weds, antiques on Thurs and a mix ofcraft and fashion by new designers at the weekend.

Partridges Duke of York Square, SW1 Wonderful rangeof farm-reared meats, artisan goods and internationalspecialist dishes from small producers keen to sharetheir passion.

WIMBLEDON“It has its own identity,separate from London, yetyou can see the city skyline.The Common spills rightonto the high street wherethere are lots of lovelyboutiques, cafés, restaurantsand an organic supermarket,”says Clive Moon of SavillsWimbledon. “In June, a weekbefore the tennis tournament,we have the summer fair,which really kicks off theseason.” Thousands of peoplecome for the horse show,dog show, knick-knack stallsand inflatables. “Buyers, bothdomestic and international, arepeople who want to have afamily life in London,” saysClive. “Many move from

Fulham for more space, abigger garden and somewhereto park the car.London stopshere and that gives it a magic,but you can get toWaterloo in15 minutes on the overground,or to CanaryWharf in 45minutes.”Village propertyranges from pretty littlecottages to handsome villasand impressive mansions. Fourand five bedroom houses costfrom £1.5m-£4m, althoughsuper-prime properties onWimbledon Parkside can soarto £15m.To rent a familyhouse you would need abudget of £1,000-£3,750 perweek.High-flying secondaryschools include Kings Collegefor boys,Wimbledon High forgirls and excellent preps.

Country living

savills.co.uk 31


The figures tell the story. Not only doesit feel like London is becoming evenmore popular, but the official censusstatistics also confirm it. The totalpopulation in 2001 was 7.3 million, andtoday it’s 8.2 million.So that sneaking sensation we may

have had about the buses and trainsgetting fuller, the taxi queues gettinglonger, turns out in fact to be correctWhat happens to be less grounded is thenotion that the capital is a place wheremost people are owner-occupiers, ratherthan tenants.

Maybe it’s something to do with thatold adage about an Englishman’s homebeing his castle. Either way, figuresfrom the Eurostat organisation show thatwhile the proportion of the population inthe owner-occupied sector in the UK(now 70 per cent) is similar to Denmark(67 per cent), it is well below Spain (83per cent) and Italy (73 per cent).“Britons are rapidly returning to

renting their homes, in a phenomenonthat has been dubbed ‘generation rent’,”says LucianCook,Director of Residential

Research at Savills, and co-author ofthe report “Rental Britain”.“Between 2006 and 2011, the number

of private rented households in Englandrose from 3.4 million to an estimated 4.8million, and by 2016 we estimate that 5.9million households will be renting in theprivate sector.”And nowhere will demandfor rental accommodation be fiercerthan in London, not just from youngprofessionals but from a growing numberof overseas residents.“The market has fundamentally

shifted,” agrees Jane Ingram, Head ofSavills Residential Lettings. “Renting inthe UK is now falling in line with whatwe have always thought in the past wasthe European model, where ironically therental sector is now becoming lessimportant. This is good news for UKlandlords and those keen to enter thebuy-to-let market.”Admittedly, from an investor’s point of

view, the average rental yield may belower in London than in New York (5.2per cent, as against 6.4 per cent), but it’shigher than in other Old World cities

rentREVIEWEveryone wants to own where they live. Londonerscertainly don‘t want to rent, right? Wrong. Renting

has become a fashionable way of lifeWORDS CHR I STOPHER M IDDLETON

PROPORTION OF THEPOPULATION IN THE

OWNER-OCCUPIED SECTOR

FRANCE63%

UK70%

GERMANY53%

DENMARK67%

ITALY73%

SPAIN83%

total populationIN LONDON

20017.3MILLION

20138.2MILLION

32 savills.co.uk

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1 2 3 4 5 6 ZONES

such as Sydney (4.9 per cent) and Paris(4.8 per cent) and it signifi-cantly outperforms NewWorld cities likeSingapore (4.1 per cent), Mumbai (3.6per cent) and Shanghai (2.4 per cent).

“This means that if you are sitting inAsia and want to get a good rental yield,London looks good value,” says YolandeBarnes, Director of World Research atSavills.There is a slight caveat in super-prime properties where average rents arehigher (£63 per sq ft) than in, say, southwest London (£28 per sq ft), but yieldsare lower (4.4 per cent).So where will the tenants come from?

The answer is largely the financialservices sector, which accounts for 67 percent of all renters of prime propertiesin south west London and 68 per cent inthe centre of town (43 per centof properties in Westminster are rented).“In the prime central areas, themajority

of lets in the past have beencorporate, which means rental growthhas been closely linked to the FTSEindex,” says Yolande.When the economy booms, the rental

sector booms, but when stocks and sharesgo down, so do rental values.“Broadly speaking, then, investors need

to look at properties in Zone 2 andbeyond, where purchase costs are moremodest, but rental demand from residentLondoners is strong – thus allowing forhigher yields.”

“Many renter households in theseareas are made up of sharers, pooling theirpurchasing power,”Lucian says.“Over thenext 10 years, we expect let residentialproperty to deliver, on average, a total netreturn of just under 7 per cent, but thiswill reach 8.2 per cent in London, on thebasis that demand will continue tooutstrip supply, pushing up both rentsand values.”London has an enormously broad range

of rental values and property pricing.While the amount of rental income won’tbe that big for an average two-bedoomproperty in, for example, Bexley on thesouth east edge of town (current average

PER SQ FT£63MAYFAIR, KNIGHTSBRIDGE

PER SQ FT£28SOUTH WEST LONDON

rent £208 per week/£10,800 per year), itwill be substantially bigger if you arerenting out a similar-sized propertyin Kensington and Chelsea (currentaverage £860 per week/ £44,700 per year).

Buy an even bigger property, though,and the sums get even larger. The currentaverage rent for a four-bedroom propertyin Westminster is £2,150 per week and£2,450 per week in Kensington and

What a typical chief executivewould pay in rent, for a

high-spec modern home, withstaff accommodation, in:

Paris£4,708 PER WEEK

London£4,535 PER WEEK

Mumbai£1,050 PER WEEK

Shanghai£1,027 PER WEEK

Source: Savills World Cities Review

HOW MUCHper month

Chelsea. “But if you want to attract apremium rent, then the first step is tolook carefully at the product you areoffering,” advises Jane. “And you mightneed to think about added extras, such asa cleaner.“Tenants at the top of the market are

renting because it suits them, so theywant everything to be in order. If a rentalproperty is the best in class, then it willearn the landlord a premium.”

Wandsworth

Kensington& Chelsea

VSCURRENT AVERAGE RENT (2 BED)£420 PER WEEK/£21,850 PER YEAR

CURRENT AVERAGE RENT (2 BED)£860 PER WEEK/ £44,700 PER YEAR

The case for letting

savills.co.uk 33

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HIGHSOCIETY

Once upon a time skyscrapers belonged elsewhere but the ruleshave changed and suddenly London is going up in the world

WORDS J ENNY GOAD

34-36 High Society London Journal.indd 3434-36 High Society London Journal.indd 34 31/05/2013 11:2231/05/2013 11:22

There’s high living and thenthere’s genuine highliving. London is betterknown for the formerthan the latter. Elegant

Georgian townhouses and Victorianterraces, yes, but towering edifices tomodernity, less so. As a result, develop-ments that have become conspicuous onthe city’s protected skyline are unusuallydesirable, particularly among buyers moreused to lofty living.“High rise living attracts international

buyers who like impressive skylines, andfor local buyers, it offers somethingdifferent to the traditional range ofproperty on offer in the capital,” says NedBaring of Savills Margaret Street.In Asia, residing amid the clouds is a

sign of status and in New York up high isthe place to be. But in London, strictplanning laws put in place during QueenVictoria’s reign were a disincentive tobuilding vertically. And in any event theBritish are more accustomed to livingwith fences, gardens and porches. Butchange is on the horizon and a new style

HONG KONGCullinan Tower265m/76 floorsPrime locationwith sweepingviews over

Victoria Harbour

NEW YORK8 Spruce Street256m/61 floorsDesigned byacclaimedarchitect

Frank Gehry

LONDONThe Shard

310m/72 floorsBoasts the mostspectacularviews overthe capital

PARISTour Defense 200136m/46 floorsThe Eiffel Tower,built 1889, is stillthe tallest building

at 324m

TOKYOMidtown World

Tower230m/75 floors

Home torenowned RitzCarlton Hotel

MOSCOWMercury City

339m/75 floorsA towering beacon

made ofshimmering pinkmirrored glass

SINGAPOREThe Sail

245m/70 floorsLuxurious

waterfront livingin downtownSingapore

SYDNEYMeriton World

Tower230m/75 floorsThis is part of theWorld Squarecomplex

SHANGHAIJin Mao Tower420m/88 floorsMeans GoldenProsperityBuilding

MUMBAIThe ImperialTowers

25m/61 floorsThe twin towersare located onthe sea front

is coming to the city, which is attractinggreat interest from local buyers too.Developments south of the river are

leading the upward charge – BatterseaPower Station, Embassy Gardens, TheShard and The Tower, One St GeorgeWharf, which at 181m will be the tallestresidential-only building in Britain.Indeed, at 310m,The Shard will house thehighest living quarters in Europe.The Tower, One St George Wharf, in

Vauxhall is at the centre of London’schanging cityscape. It will be accessiblevia a new pier, oppositeThe Tower, as wellas convenient for Vauxhall tube, rail andbus stations. Uninterrupted 360 degreeviews of the city are promised from itsextraordinary Platinum Collection apart-ments on floors 32-44. Peer over the river,

to Westminster, Buckingham Palace andbeyond from the comfort of yoursupremely well-appointed home.The hotly anticipated development at

Embassy Gardens, situated betweenBattersea Power Station and VauxhallBridge, will include 1,982 homes within aself-contained community beside theThames. Properties don’t just come withgardens – the development will sit astridea green stretch, similar to New York’spopular High Line. Amenities includevalet parking, a boulevard of shops, a spa,a private club and access to the extendedNorthern Line.Prices start from £349,000rising to £3.15million for an apartmentwith a roof garden.Further east, and on the north side of

the river, is The Heron. Located in theheart of the City, the development waslaunched late last year and, with 36 floors,it more than makes its presence felt. Itoffers two bedroom apartments from £3.6million with penthouses costing £10-£15million.These have stupendous panoramicviews and amenities include a private clubwith cinema, games room and gym,HIGHEST

places to liveIN OUR 10

WORLD CITIES

Tall storeys

savills.co.uk 35


plus valet parking and 24 hour security.These new developments particularly

appeal to Chinese and Asia Pacific buyers,who account for 31 per cent of all purchasesin the prime new build market.“Buyers from this region are more

familiar with newly built districts sobuying activity is focused around East ofCity markets, which has a large amount ofnew product,” says Yolande Barnes,

SOUTH BANKTOWER, SE1

The newest addition to London’sSouthbank is South Bank Tower,which has 173 apartments with

panoramic views. Servicesinclude 24 hour concierge, pool,

gym, screening room and amagnificent roof garden.

Coming soon.Adele Foley, Savills MargaretStreet, +44 (0)20 7016 3714

[email protected]

THE HERON,EC2

The stunning PanoramicCollection has apartments on

the 31st to 34th floors. Servicesinclude concierge, valet

parking, 24 hour security andmembership of The Heron’sprivate club. Coming soon.

Heather MarkhamSavills Margaret Street+44 (0)20 7409 8756

[email protected]

RIVERWALK,MILLBANK, SW1

Set in the heart of Westminster,this exclusive development on the

north bank has a collection of113 apartments and penthouseswith exceptional views across the

river. The shape of thebuildings echoes the curvature of

the Thames. Coming soon.Mary Foreman, Savills Margaret

Street, +44 (0)20 7409 [email protected]

RIVERSIDE QUARTER,SW18

Next to the open space ofWandsworth Park, residents here

will benefit from an exclusiveon-site swimming pool, fully

equipped gym, concierge service,plus a residents shuttle and a

Thames Clipper service.Coming soon.

Trisha Russell, Savills MargaretStreet, +44 (0)20 7409 8756

[email protected]

TOP OF THE WORLDChange your view by investing in one of these fantastic flats

Director of World Research at Savills.“The point about high rise living is that

it is the sum of all its parts,” says BenMorris of Savills Knightsbridge. “Yes, youhave the views, but you are have a certaintype of lifestyle.TakeThe Knightsbridge inSW7: while it can’t compete with the loftyheights of The Tower, it has become oneof the most expensive developments as itoffers sophisticated 24 hour concierge

“HIGH RISE LIVINGIS THE SUM OFALL ITS PARTS”

services, high levels of security, valetparking, plus an indoor pool, spa andbusiness suite, all of which are importantfor buyers at this level.”Historically, high rise flats have achieved

a premium. Indeed, One Hyde Park, inKnightsbridge, remains the only talldevelopment in SW1 and it has achievedrecord prices. Add to that the servicesprovided by the Mandarin Oriental hotelnext door, plus Heston Blumenthal’s foodfor private dinner parties and you cancombine high living with, well, high living.With London’s skyline pierced with

such pizazz, it is safe to say that things areresolutely looking up.

Tall storeys

36 savills.co.uk


They are in a league of their own, responsible for vast swathes of the capital,and no one can accuse the great estates of being absentee landlords

WORDS MAX DAV ID SON

LORDSOF THEMANOR

savills.co.uk 37

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WHOowns what

THE CADOGAN ESTATE COVERSMORE THAN 90 ACRES OF

CHELSEA AND KNIGHTSBRIDGE.

THE GROSVENOR ESTATE HASOWNED 300 ACRES OF MAYFAIR

AND BELGRAVIA SINCE 1677.

THE HOWARD DE WALDENESTATE IS CENTRED ON

MARYLEBONE HIGH STREETAND EXTENDS OVER SOME

100 ACRES.

THE PORTMAN ESTATE INMARYLEBONE COVERS 110ACRES BETWEEN OXFORD

STREET AND EDGWARE ROAD.

THE CROWN ESTATE OWNSLAND AND PROPERTY

THROUGHOUT THE UK. ITSBEST-KNOWN LONDON

HOLDINGS ARE REGENT STREETAND THE RESIDENTIAL

PROPERTIES IN REGENT’S PARK.

SMALLER BUT SIGNIFICANTLONDON ESTATES INCLUDE

THE NEWINGTON TRUST, THELLOYD BAKER ESTATE, THE

HAMPSTEAD GARDEN SUBURBTRUST, THE PEABODY TRUST,

BROADGATE, ILCHESTER ESTATES,GUNTER ESTATES AND THE

PHILLIMORE ESTATE.

Look at London from the airand it might seem like anunplanned city, laid outhiggledy-piggledy style overcenturies. But if one thing

has brought order out of chaos and averteda building free-for-all, it’s the vast swathesof central London that are owned by acomparatively small number of estates,aristocratic family fiefdoms dating back tothe eighteenth and nineteenth centuriesand still holding their own in our moreegalitarian age.Grosvenor,Cadogan,Portman,Howard

de Walden...The names are as intrinsic toan understanding of London and itsarchitecture as John Nash and SirChristopher Wren.From buzzing Kensington High Street,

the jewel in the crown of the PhillimoreEstate, to Marylebone High Street, whichhas been transformed in the last decade,to hot-and-happening Duke of YorkSquare in Chelsea, the capital boastsmust-visit enclaves that owe their success,not to new money, but to old money,wisely invested.“The great estates always take the long-

term view,” says Richard Dalton of SavillsSloane Street. “They see themselves ascustodians or, if you like, family trustees.And the result is a network of mixed-use

urban villages in which people can live,work, shop and eat, and which aremeticulously planned. Nothing happensby accident.”Guy Bradshaw of Savills Mayfair

believes that it is because of this on-goingcontribution to the “public realm” that theestates have prospered.“In Mayfair, the Grosvenor Estate has

been the driving force behind the re-generation of Mount Street and NorthAudley Street,” he says. “From newpavements to a greatly improved retailoffering, the Grosvenor Estate has lookedat the area as a whole and, in consultationwith residents, identified which enhance-ments are needed.”For example, the recent multi-million

pound refurbishment programme carriedout by the Grosvenor Estate on its olderproperties has substantially increasedtheir rental value while giving a boost to

THEY SEETHEMSELVES ASCUSTODIANS

OR, IF YOU LIKE,FAMILY

TRUSTEES

Great estates

38 savills.co.uk


A key figure in the emergence of theCadogan Estate was Sir Hans Sloane,whose daughter married a Cadogan andwhose bequests laid the foundation of

the British Museum.

The Grosvenor family bought Mayfairin the late seventeenth century. It wasknown as the Five Fields and consistedof swamps, pasture, orchards and a few

scattered houses.

The best place in London to fall ill is theHoward de Walden Estate, which isbisected by Harley Street and houseswell over 1,000 doctors, dentists

and surgeons.

The Portman Estate in Maryleboneoccupies land originally bought by aSomerset landowner who reputedlyneeded somewhere to rest his cattle en

route to market.

The first houses built on the PhillimoreEstate in Kensington in the early

nineteenth century were so unattractivethat King George III used to pull downthe blinds of his carriage window to

avoid looking at them.

KNOW?Did you

the whole Mayfair area. Streets onceknown for their stolid mansion blocksnow boast busy cafés, top designer shopsand Michelin-starred restaurants. A well-managed urban estate has become adestination in its own right.Many of the ancient family estates

started life as green fields. Certainly, theyhave adapted to changing times but theyhave remained true to their roots andtraditions, while introducing the reformsnecessary to prosper in a moderncommercial environment.The Crown Estate, for example, used

to sell its properties in Regent’s Park onshort leases only. But since it startedoffering leases of up to 150 years, propertyprices have soared.

“We recently sold two houses in ParkSquare East for around £10 million each,”says Stephen Lindsay of Savills St John’sWood. “This is the only park where youcan own property, so it is not surprisingthat there is high demand.”

The great estates own some of the mostdesirable property in London – from theelegant side streets off Chelsea’s King’sRoad to the grand terraces of white stuccohouses in Belgravia to the great mansionblocks of Mayfair.The tag “best address in London” is still

enjoyed by Kensington Palace Gardens, inW8,which is owned by the Crown Estate.The magnificent tree-lined road is so

exclusive that even flats on short leasesfetch £5 million.As residential landlords, the great

estates tend, on the whole, to beconservative, preferring continuity toprofit. But it is conservatism of the hard-headed, not the hidebound, variety.“The estates want first-class tenants and

they offer a first-class service in return,”says Amelia Greene of Savills SloaneStreet, which handles letting forGrosvenor and Cadogan properties. “Theyhave professional property managers,favour long rather than short lets andalways redecorate a property betweeneach letting.The result is a loyal clientele.“We often get tenants keen to stay on

the same estate when considering a move,

and many international tenants returningto the UK for business reasons feel thesame way.”The survival of the great London estates

may be an affront to some, but they are farmore than colourful anachronisms.Indeed, they are among the staunchestchampions of an urban environment ofwhich everyone can be proud. It’s worthconsidering how different London wouldlook without the estates. The simpleuniformity would be lost and the link withthe past woud be broken. Continuityshould never be undervalued. Indeed, inLondon’s case, it’s the continuity thatbrings added value to the capital.

Great estates

savills.co.uk 39


Dictionaries have varying defini-tions for the word bolt hole.One of the clearest describes itas: “a hole through which ananimal may bolt when pursued

into its burrow or den.”Quite how the term hasmetamorphosed into a property catchword isunclear. After all, few of us can honestly claimthat a day at work is like being chased by ahostile predator.But we get the sentiment. And what is

increasingly clear is that people who live in a bigcity need to escape from time to time. Re-tuning is easier achieved to the sound of birdssinging than sirens shrieking.For decades, escaping London has become a

military operation for many families. Motherswith young children head for the M4 or M40after picking up their charges from school on a

London is a 24-hour city, but that doesn’t mean you have to be there round theclock. A second home out of town – or even out of the country – is essential

WORDS MARK PALMER

Friday afternoon, their husbands following afew hours later by train or in their own vehicles.Relative calm descends for 48 hours before thenheading back into town.There are bolt hole hotspots. Counties such

as Gloucestershire, Oxfordshire, Wiltshire,Sussex, Kent and Suffolk traditionally haveoffered ideal respite from the rigours of thecapital, but today bolt holes entice peoplefurther afield. Northamptonshire, Dorset,Norfolk and even Cornwall are all popular,helped in part by better roads and muchimproved train links.But there’s no reason why a bolt hole should

be confined to Britain. And no reason why boltholes should only be used at weekends.“We have found that having a network of

offices in the South of France has beenextremely useful for our clients,” says

From top left:impressive Grade IIhouse in Cornwall,£2m; villa in Nicewith panoramicviews over the Baiedes Anges, price onapplication;magnificient skiin-ski out chalet insought-afterCourcheval, priceon application;an enchantingGoucestershire millhouse with watersidegarden, £1.625m

BOLT HOLEBOLTING ON A

40 savills.co.uk

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SECOND HOMESOFFER RESPITE

FROM THERIGOURS OFLIVING IN THE

CAPITAL

savills.co.uk 41

Break for the border


Lindsay Cuthill, Savills Head of regionfor south west London. “Because peoplehave more flexibility in their working livesnow,they can easily extend their weekends,which makes having a bolt hole furtherafield much more practical.”Noel de Keyzer, from Savills Sloane

Street, heads for his bolthole mostweekends, but it’s in Lisbon, Portugal.“I get a plane from Heathrow on Friday

evening and I can be there in time fordinner,” says Noel. “It takes friends ofmine longer to get to their UK bolt holesthan for me to get to Lisbon.“The pace of life is so relaxing there and

the climate is perfect. Winters are shortand by April the temperature can reach 26degrees. What’s amazing is that I can beon the beach within 15 minutes of whereI live.What’s more, the cost of eating outin restaurants is almost half what it is inmany other European cities.”Noel says it is possible to buy a two or

three bedroom flat in the historic centre ofLisbon for around €500,000, completewith underground parking, a terrace andair-conditioning.But why stop at Europe. A bolt hole is

where you feel the bolts loosening on yourlife. For Gordon Lewis, who lives mainlyin London, that means owning a home inRio de Janeiro, Brazil, which is more than10 hours away by air, with a three-hourtime difference.“We live in a place called Quinta Rosa

in the old part of town – but wherever youare in Rio you are near the sea,” saysGordon. “The city is moving forward allthe time, with the World Cup next yearand the Olympics two years after that.Theweather is great all year round – but it’s

BOLT HOLES CAN,OF COURSE, BEANYWHERE INTHE WORLD

Above: this superbmodern 5 bedroompenthouse inPortugal’s LagosMarina is on themarket at £811,395.Right: for somethingcloser to home, thisstylish Grade IIhouse with tenniscourt and paddocksin Toys Hill, Kent isyours for £1.595m

the people who make Rio so special. Sospecial in fact, that we have just investedin building a new boutique hotel, QuintaAzul, so other people can escape to Riotoo [londonrio.com]. ”A bolt hole implies a house or cottage

that is smaller than someone’s property inLondon. But that, too, need not be thecase. Many Savills clients have anapartment or mews house in London,where they live during the week, and thenthey bolt from it on Friday evening totheir family homes in the country.Indeed there has never been a better

time for London buyers to find theirdream home in the country.“Country properties are looking very

good value at the moment, with Londonmoney stretching much further in somelocations than in others,” says CrispinHolborow, Head of the CountryDepartment at Savills.“Areas that are within commuting

distance of the capital are obviouslyconvenient but more expensive, whilethose further afield offer both idyllic ruralsurroundings and classic country houses.But most importantly they also offer anopportunity to find exceptional value,”he says.

Break for the border

42 savills.co.uk


YOUR GUIDE TO LONDON’S KEYRESIDENTIAL AREAS FROM OUR EXPERTS

GAZETTEERTHE

43-49 Gazetter London Journal.indd 4343-49 Gazetter London Journal.indd 43 29/05/2013 11:4329/05/2013 11:43

PRIME CENTRALLONDON

BelgraviaARCHITECTURE Elegant Nash stuccofronted properties and private gardensquares, many of which are owned bythe Grosvenor Estate.PRICE TO BUY From £1m-£100m+PRICE TO RENT From £600pw for a onebedroom apartment to £15,000pw for aspacious family homeSHOPS Cobbled Motcomb Street is hometo high-end fashion, beauty and hairsalons, as well as Michelin-starredrestaurants, while Pimlico Road is thedesign district – David Linley, JaneChurchill, as well as art and antiqueshops. Hat-maker Philip Treacy andjeweller Erickson Beamon are onElizabeth Street.

CULTURE Cadogan Hall, home to the RoyalPhilharmonic, for the Proms, jazz, folk,contemporary and world music events;St Peter’s Church, Eaton Square forhighly acclaimed classical concerts, andThe Royal Court, Sloane Square forsharp new British plays.

SALES, HOUSES

Noel De Keyzer+44 (0)20 7730 [email protected]

SALES, FLATS

Richard Dalton+44 (0)20 7730 [email protected]

Amelia Greene, MARLA+44 (0)20 7730 [email protected]

ChelseaARCHITECTURE Fine Georgian andVictorian garden squares, stucco frontedhouses and striking riverside properties.Large areas owned by the WellcomeTrust, Grosvenor and Cadogan Estates.PRICE TO BUY From £1m-£50mPRICE TO LET From studios at £400pw tofamily houses at £6,500pwSHOPS Shopping mecca on the King’sRoad and Fulham Road, from the ConranShop, Stella McCartney and RalphLauren to independent boutiques such asBlue Velvet Shoes and John Sandoe’sbookshop. Foodies love La Cave àFromage and Rococo Chocolate.

CULTURE Blue Plaques to noted figuresabound here. The Saatchi Gallery forcontemporary art, the V&A, the world’slargest museum of decorative arts anddesign, and Chelsea Physic Garden forits unique collection of plants.

SALES

Charlie Bubear+44 (0)20 7578 [email protected]

Danielle Fearnon, MARLA+44 (0)20 7578 [email protected]

KensingtonARCHITECTURE Stucco fronted Victorianhouses on the Phillimore Estate andHolland Park and red brick mansionblocks around Kensington High Street.PRICE TO BUY £2m-£30mPRICE TO RENT Flats £400-£6,500pw;Houses £1,100-£15,000pwSHOPS Quieter than Oxford Street, butcomprehensive in its offering. WholeFoods is the biggest and smartest organicfood shop in London and for antiques andart visit Church Street.

CULTURE The Royal Albert Hall for musicand cultural events and the Royal Collegeof Music, Holland Park for its highlyacclaimed annual opera festival, and TheGate Cinema with its ornate auditoriumfor art and mainstream films.

SALES, HOUSES

Johnny Fuller+44 (0)20 7535 [email protected]

SALES, FLATS

Thomas Holcroft+44 (0)20 7535 [email protected]

Matthew Hobbs, FARLA+44 (0)20 7535 [email protected]

The Gazetteer

44 savills.co.uk


KnightsbridgeARCHITECTURE Stucco fronted elegantterraces, classic Georgian gardensquares, Dutch-style red brick mansionsand cutting-edge new developments suchas One Hyde Park.PRICE TO BUY From £2.5m-£50m for ahouse; £850,000-£45m for a flatPRICE TO RENT From £1,500-£12,000pwfor a house; £400-£20,000pw for a flat

SHOPS Harrods and Harvey Nichols,together with the designer stores onSloane Street, and the boutiques alongWalton Street.CULTURE The Natural History Museum, theV&A Museum and the Albert Hall are allon the doorstep.

SALES, HOUSES

Barbara Allen+44 (0)20 7590 [email protected], FLATS

Ben Morris+44 (0)20 7590 [email protected] PRIME LETTINGS

Mark Tunstall+44 (0)20 7590 [email protected]

Jennifer Reid, MARLA+44 (0)20 7584 [email protected]

Mayfair&MaryleboneARCHITECTURE From red brick periodbuildings, high-ceilinged Georgianproperties and contemporary newdevelopments, plus the world-famousmedical practices around Harley Street.PRICE TO BUY Flats and houses from£500,000-£100m

PRICE TO RENT From £500-£50,000pwSHOPS Bond Street for its elegantdesigner stores, Mount Street for itsboutiques, Marylebone High Street for itsvillage atmosphere, weekly farmersmarket and annual summer fair.CULTURE The Royal Academy of Arts forinspiring exhibitions, The WallaceCollection for its stunning collection of art,and Regent’s Park Open Air Theatre for amemorable experience.

SALES

Charles Lloyd+44 (0)20 7587 [email protected]

Guy Bradshaw, MARLA+44 (0)20 7578 [email protected]

Notting HillARCHITECTURE Large Victorian properties,many with direct access onto communalgardens, and the colourful cottages ofHillgate Village.

PRICES TO BUY £500k-£30mPRICE TO RENT £500-£12,000pwSHOPS Westbourne Grove and LedburyRoad for chic boutiques and restaurantsand Portobello Road for more eclecticshops and its bustling antiques market.CULTURE The Gate and Electric Cinemasfor art and mainstream films, the tiny PrintRoom fringe theatre and gallery onHereford Road, and the world-famousNotting Hill Carnival.

SALES

Oliver Lurot+44 (0)20 7727 [email protected]

Nik Dennis, MARLA+44 (0)20 7727 [email protected]

SOUTH WESTLONDON

BarnesARCHITECTURE Fine Georgian housesalong the river, elegant early Victorianvillas on Castelnau, family houses aroundthe duck pond and green.PRICE TO BUY From £1m-£7.5mPRICE TO RENT From £1,800pcm to£15,000pcmSHOPS Two Peas in a Pod for fruit andveg, Totally Swedish for caviar, crispbreadand cloudberry jam, Orange Pekoe for teaand delicious cakes, and Tobias and TheAngel for inspiring interiors and furniture.

The Gazetteer

savills.co.uk 45


CULTURE The Olympic recording studiosused by artists such as The Beatles,Rolling Stones, David Bowie, Queen andMadonna, now converted into a cinemathat shows both art house films andcurrent releases.

SALES

Sandra Carline+44 (0)20 8939 [email protected]

Paul Zammit, MARLA+44 (0)20 8939 [email protected]

BatterseaARCHITECTURE Georgian and Victorianhouses and cottages, beautiful periodmansion blocks around the park, modernriverside developments.PRICE TO BUY From £350,000-£20mPRICE TO RENT From £350-£2,000pw

SHOPS Boutiques and antique shops onBattersea Park Road, Caffetino forhomemade bread, and Bar and Grilldeli/butcher for delicious food anda reputable butcher.

CULTURE Battersea Affordable Arts Faironce a year in Battersea Park, BatterseaArts Centre for plays throughout the year,and for new writing the flagship fringeTheatre503 at the Latchmere.

SALES

Mayow Short+44 (0)20 3402 [email protected]

Clare Neville, MARLA+44 (0)20 3402 [email protected]

ChiswickARCHITECTURE From Grade II listedhouses along the river to contemporaryapartments, Edwardian and Victorianhouses and Norman Shaw designed,houses of Bedford Park.

PRICE TO BUY From £400,000-£10m+PRICE TO RENT From £280-£3,000pwSHOPS For foodies, there’s MackenBrothers butchers, Gails for bread,Patisserie Valerie for delicious cakes, andMortimer and Bennett’s deli.CULTURE Village charm with green spacesand the river location. Primarily family-orientated, with bars and restaurants foryoung professionals.

SALES

Christopher Bramwell+44 (0)20 8987 [email protected]

Hannah Woodley, MARLA+44 (0)20 8987 [email protected] HOMES

Simon Walker+44 (0)20 8987 [email protected]

Clapham & BalhamARCHITECTURE Predominantly Victorianwith a handful of Queen Anne andGeorgian houses around the ClaphamCommon area.

PRICE TO BUY From £310,000-£12mPRICE TO LET From £300-£2,000pwSHOPS Delis, cafés, variety of bars andrestaurants, organic/health food shops,good choice of supermarkets, bookshopsand boutiques.CULTURE Clapham Picture House, VennStreet Market, Battersea Art Centre.

SALES

Christopher Lewis+44 (0)20 8673 [email protected]

Nathan Yendle, MARLA+44 (0)20 8772 [email protected]

The Gazetteer

46 savills.co.uk


FulhamARCHITECTURE Victorian and Edwardianhouses, with stunning moderndevelopments along the river.PRICE TO BUY From £500,000-£5m+PRICE TO RENT From £300-£3,000pw

SHOPS Parsons Nose Butcher for meat,Emelia’s for all things deli, Friarwood forfine wine, not forgetting the outstandingRiver Cafe in Thames Wharf. There’sKatie & Jo clothes boutique, Deuxiemefor pre-loved designer goodies, EmmaBridgewater’s flagship shop, and allmanner of design and interior shops onthe New King’s Road.CULTURE Polo in the Park, Queens Tennistournament, Fulham Football Club andStamford Bridge for Chelsea FC, and TheCurtains Up for theatre. There’s alsoFulham Palace and its stunning gardensand the unique Riverside Studios forcutting edge theatre and a cinema with adifferent double bill every night.

SALES - Parsons Green

Emma Stead+44 (0)20 7731 [email protected]

Sophie Curtis, MARLA+44 (0)20 7731 [email protected]

SALES - Bishops Park

Glynn Gibb+44 (0)20 7578 [email protected]

Kate Rotheram, MARLA+44 (0)20 7578 [email protected]

PutneyARCHITECTURE Elegant Victorian andEdwardian terraces, striking mansionblocks, large detached double-frontedhouses, and stylish new builds along theriverfront.PRICE TO BUY From £250,000- £12mPRICE TO RENT From £1,250pcm-£18,000pcmSHOPS Busy high street anchored byPutney Exchange shopping mall, whilePutney Bridge Road is home to smallerboutiques and delis. Vibrant bar andrestaurant scene, especially along theriverfront on both sides of the bridge.

CULTURE The Boat Race starts at PutneyBridge and for entertainment, there’s thePutney Arts Theatre and the Half Moon isan excellent music venue. Green space isnever far away with plenty of parks,gardens and the Heath.

SALES

Caroline Bell+44 (0)20 8780 [email protected]

Alex Howard Baker+44 (0)20 8780 [email protected]

LETTINGS

Richard Hole, MARLA+44 (0)20 8780 [email protected]

RichmondARCHITECTURE From Tudor to highlycontemporary - the predominant style,however, is Victorian.

PRICES TO BUY From £300,000-£25mPRICE TO RENT From £300-£9,000pwSHOPS Richmond Hill Bakery for pastriesand coffee, Teddington Cheese for anextensive selection of the world’s finestcheeses; Philglas and Swiggot for wine,the paved lanes for eclectic boutiquesand George Street for major retailers.CULTURE The Richmond Theatre for moremainstream plays, The Orange TreeTheatre for new upcoming plays and TheCurzon Cinema for art house films.Petersham Nurseries is a uniqueexperience and then there’s RichmondPark, the largest of the capital’s eightRoyal Parks and home to the beautifulIsabella Plantation and herds of red andfallow deer.

SALES

Patrick Glynn-Jones+44 (0)20 8614 [email protected]

Catherine Hanley, MARLA+44 (0)20 8614 [email protected]

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WandsworthARCHITECTURE Victorian terrace houses inthe sought-after Tonsleys, largersemi-detached houses in nearby EastHill, while the cream of Wandsworthproperty is to be found in the Toast Rack,a grid of streets jutting into WandsworthCommon.

PRICE TO BUY From £250,000-£10mPRICE TO RENT From £300-£3,000pwSHOPS Enclaves of smart shops andboutiques along Bellevue Road and OldYork Road, the Barmouth Kitchen café,run jointly by local families, the SouthsideCentre for a selection of high streetnames as well as a Waitrose and amulti-screen cinema.CULTURE Wandsworth Common is thearea’s green heart, with its tennis courts,lake and play area set in 175 acres ofopen parkland and there’s alsoWandsworth Museum in the town.

SALES

Emma Seaton+44 (0)20 8877 [email protected]

Emily Hayward, MARLA+44 (0)20 8877 [email protected]

Wimbledon & CoombeARCHITECTURE Victorian and Edwardianhouses, Arts & Crafts detached housesand private gated estates.PRICE TO BUY From £350,000-£10mPRICE TO RENT From £1,000-£20,000pcmSHOPS Wimbledon Village has a widecollection of boutiques, cafés andrestaurants, while the town centre offers arange of popular high street names.

CULTURE: Wimbledon Common has 1,000acres of fabulous open space with threepopular golf clubs and is ideal for walking,riding or cycling. For entertainment,there’s the Wimbledon Theatre and for arthouse films there’s HMV Curzon.

SALES

Clive Moon+44 (0)20 8971 [email protected]

Andrew Clements, MARLA+44 (0)20 8971 [email protected]

NORTH LONDON

HampsteadARCHITECTURE Georgian, Victorian,Edwardian and ultra modern.PRICE TO BUY From £450,000-£20mPRICE TO RENT From £450-£22,500pwSHOPS Hampstead Village has a mix ofwonderful bohemian boutiques andrestaurants. Specialist food shops includeMelrose & Morgan, Ginger & White, Paul

Bakery & Patisserie, Hampstead Butcher& Providore, Hampstead Seafood &Fishmongers, as well as Fawkesbookshop and Hampstead Antique &Craft Emporium.

CULTURE Home to many of the country’sbest-known writers, actors, artists andmusicians, it also boasts London’s largestpark, the 800 acres of HampsteadHeath. Sporting facilities include golf andtennis and an open-air lido. You canwatch a picnic concert in the garden ofKenwood House or a play in thecelebrated Hampstead Theatre.

SALES

Frank Townsend+44 (0)20 7472 [email protected]

Arron Bart, FARLA+44 (0)20 7472 [email protected]

St John’s WoodARCHITECTURE Predominantly Georgianand Victorian with fine Nash Regencyterraces surrounding Regent’s Park andLittle Venice.PRICE TO BUY £1m+PRICE TO RENT £500-£40,000pwSHOPS Larizia for designer shoes andhandbags, women’s boutiques, Panzersfor British, American and other foreigndelicacies, Brown’s fishmonger for freshfish and seafood, Kent Butchers for

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free-range and organic meats, Oxfam fora good selection of second-hand books.CULTURE Everyman Cinema in MaidaVale for art and mainstream films, theaward-winning Regent’s Park Open AirTheatre for cultural summer evenings,Puppet Theatre Barge for children’smarionette shows and London Zoo.Primrose Hill offers one of the best freeviews over London.

SALES

Stephen Lindsay+44 (0)20 3043 [email protected]

Alexandra Fleck+44 (0)20 3043 [email protected]

EAST LONDON

Canary WharfARCHITECTURE Renowned for high risecontemporary style developmentswith luxury facilities. However, alsohas some very important, historicwarehouse conversions.PRICE TO BUY From £250,000-£4mPRICE TO RENT From £250-£3,500pwSHOPS Several interlinked malls offeringeverything from high street fashion toluxury boutiques and mainstreamsupermarkets.

CULTURE Fast-paced businessenvironment that is home to numerousmajor banks, professional services firmsand media organisations, including

Barclays, Citigroup, Clifford Chance,Credit Suisse, HSBC, J P Morgan,KPMG, Morgan Stanley, State Street andThomson Reuters. The Docks offers anarray of waterside restaurants and bars.

SALES

Lauren Ireland+44 (0)20 7531 [email protected]

Dawn Shepperson, FARLA+44 (0)20 7456 [email protected] DEVELOPMENT

Matt Leitch+44 (0)20 7531 [email protected]

Islington & HighburyARCHITECTURE Fine Georgian and earlyVictorian garden squares and terraces inIslington and later Victorian family housesin Highbury. A mixture of warehouseconversions and new builds close to theRegent’s Canal.

PRICE TO BUY From £350,000 for a onebedroom flat to £6.5m for the largestGeorgian housePRICE TO RENT From £300-£2,500pwSHOPS Upper Street for its mix ofhigh-end boutiques, high street favouritesand pavement cafés, and cobbledCamden Passage, which has the feelof a street market, for vintage clothingand antiques.CULTURE The Almeida Theatre (Savills isthe local corporate sponsor), SadlersWells and the Kings Head are all in thearea and offer an array of excellent

performances. Screen on the Green,overlooking Islington Green, is one of theoldest cinemas in London.

SALES

Paul Williams+44 (0)20 7226 [email protected]

Daniel Parker, FARLA+44 (0)20 7354 [email protected]

WappingARCHITECTURE Fine riverside warehouseconversions and high spec, glass-fronteddevelopments.PRICE TO BUY From £300,000-£4mPRICE TO RENT From £350-£3,000pw

SHOPS A small local high street with anold-fashioned butcher, baker, dry cleanerand convenience store, and St KatharineDocks Marina with its abundance ofcafés, bars, boutiques, fine restaurants,and a weekly food market.CULTURE Amixed local community whereCity people live alongside locals whohave lived there for generations.

LETTINGS

Dawn Shepperson, FARLA+44 (0)20 7456 [email protected]

Lauren Ireland+44 (0)20 7531 [email protected]

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Q Can I still get an interest onlymortgage?

A Much has been written abouttheir demise, but they remain

available for those borrowers withirregular incomes and particularly thoseborrowing in excess of £1m.They aregenerally arranged on a 5 year reviewablebasis. Over half of the 80 lenders we usedduring 2012 will consider offering aninterest only facility.

Q With interest rates so low, is nowa good time to fix?

A Fixed rates can offer certaintyand currently appear very good

value with some 2 year rates below 2%and 5 year rates below 3%.The downsideto a fixed rate is the lack of flexibility to

GLOBALREACHWith a network of25 offices in London,90 across the UKand 500 offices andassociates worldwide,Savills is perfectlylocated to help youmake the most of theopportunities inthe property market.

Yes, we sell and let out properties for our clients, but we provide awhole lot more too. Here are some of the other services we offer

AUCTIONS We hold a large number ofauctions each year. Our success rates areone of the highest across the industry.

CORPORATE SERVICES We are aletting service, acting as a hub betweencorporate companies, relocation agentsand the Savills global network.

COUNTRY HOUSE CONSULTANCYWe advise on project management,staffing, land use and tenancies.

INSURANCE We protect our clients’lifestyle, valued possessions, privateand investment properties.

LEISURE PROPERTY We deal with thesale, purchase, valuation, and lettingof your leisure property.

PROPERTY MANAGEMENT Weensure your property is cared for andlooked after just as you would.

PRIME PURCHASE We find andacquire both London and countryresidential properties for our clients.

SAVILLS INTERIOR SERVICES Wehelp you to achieve the full potentialof your property, from extensions andconversions to simply dressing it.

SPF PRIVATE CLIENTS We managemortgage requirements from start tofinish with a range of competitive,often exclusive, products.

There’s a lot we haven’t mentioned, butwhatever you need, we’ll make it happen.

Q&AsOUR SERVICES

UK &IRELAND

ASIAPACIFIC

EUROPE MIDDLE EAST& AFRICA

AMERICAS

ENGLANDIRELANDSCOTLANDWALES

AUSTRALIACHINAHONG KONGINDIAJAPANMACAUMALAYSIANEW ZEALANDSINGAPORESOUTH KOREATAIWANTHAILANDVIETNAM

AUSTRIABELGIUMCROATIAFRANCEGERMANYGIBRALTARGREECEITALYLUXEMBOURGMONACOMONTENEGRONETHERLANDSNORWAYPOLANDPORTUGALRUSSIASPAINSWEDENSWITZERLAND

ANGOLABOTSWANAOMANSOUTH AFRICASWAZILANDZAMBIA

CANADACARIBBEANMEXICOUSA

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repay early or change the mortgage to adifferent product.With interest ratespredicted to stay at this level for anumber of years many clients are optingfor variable rate mortgages that track theBank of England base rate.If you wish to discuss any furtherpoints about mortgages, contact SPFPrivate Clients on +44 (0)870 900 7762

Q How can I attract the highestquality Corporate Tenants for myproperty?

A They come in all shapes andsizes - there isn’t a one-size-

fits-all, or a particular style of propertythat appeals to all corporate tenants.Here at Savills we are dealing with bothyoung single professionals in the earlystages of their career and CEOs withtheir families.The main advice we offer isthat tenants are looking for clean,functional properties with modernkitchens and bathrooms.The youngerprofessionals prefer properties to be fully

furnished so that they can move in andsettle quickly. Families looking for largerproperties will often want to move theirown furniture in and so would rather itbe completely unfurnished.If you wish to discuss any further pointsabout corporate tenants and relocation,please contact the Corporate Services Teamon +44 (0)20 7016 3750

Q I’m based overseas and am keento purchase a property inLondon, but find the timedifference and my workloadmake this difficult. Can you help?

A Yes, at Prime Purchase we willtake a detailed brief from you

on the type of property and locationyou’re looking for, and then we willsource suitable options – some of whichwon’t even make it onto the open market,such is the competition for prime realestate in London.We carry out atremendous amount of due diligence andresearch to hone down the number of

properties we recommend into a finelytuned shortlist.We can also help youwith appointing lawyers and sourcingfinance, if required, so that when youarrive in the UK your time is focused onlooking at the properties we haveselected for you.

Q Sometimes negotiations and theconveyancing on a property cantake a while, what happens if Irun out of time on this?

A Essentially, we become yourrepresentative so we will

manage the transaction with your lawyer,set up surveys and agree terms on fixturesand fittings while keeping you fullyinformed at all times. Our role is to makeyour life as easy as possible by gatheringtogether all the information needed andbeing bold enough to know when tomake a decision on your behalf.If you wish to discuss any further pointsabout our property services, please contactPrime Purchase on +44 (0)20 7881 2388.

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