Property this Quarterly
With the clock ticking on the UK’s decision to leave the EU, 2019 has so far seen increased activity in the prime central London (PCL) property market.
London’s super prime stock is selling at its fastest rate in three years, according to Coutts bank and If the billionaire hedge funder Ken Griffins recent buying spree in the capital is anything to go buy, then now is the time to invest. Off the back of his £95m purchase of No 3 Carlton gardens, Griffin has added the £100m penthouse at HSH’s Peninsula London Scheme on Hyde Park Corner.
Prices in the capitals most expensive neighbourhoods are now at the same level they were six years ago according to Knight Frank which offers overseas investors are chance to snatch a deal. Developers and sellers of second hand property have had to become more realistic with their pricing in order to shift their stock. This, coupled with a weaker sterling, price cuts and market uncertainty has seen a 34% surge in the number of £15m + deals across PCL last year (according to Savills)
Prices seem to have flattened over the last two year and savvy overseas investors are picking up some very attractive deals. This opportunity has been identified by Hussain Sajwani, chairman of Dubai’s Damac Holdings, who recently indicated that he is looking to invest up to £1bn on big ticket property investment in Central London, he states ;
2019 is shaping up to be a very interesting year for the PCL New-build market with some stunning new projects coming out the ground. Some of the biggest discounts seen last year were offered on the new build sector and we expect this trend to continue in the months ahead.
Here are some of our most exciting Residential developments to consider for 2019:
The Peninsula, Hyde Park Corner
Developer: HSH group/Grosevenor Estate
The 190 room hotel and 28 luxury residential apartments will overlook Hyde Park in arguably one of London best locations. 5* amenities that will be serviced by the hotel element, valet parking and spectacular views over Wellington Arch puts this as the number 1 development in PCL.
No 1 Grosevenor Square, Mayfair
Developer - Lodha holdings
This magnificent building was constructed in 1731 and formally served as the US Embassy and the Canadian High Commission. Situated on London’s finest, most iconic location, No.1 Grosevenor Square comprises of 44 luxurious residences featuring around the clock bespoke concierge services, valet parking and unrivalled lifestyle amenities. The building has been respectfully restored, with ceiling heights raised up to 4.2m.
Regent’s Crescent, Marylebone
Developer - CIT
Originally built in 1820 for the prince Regent and designed by John Nash, RC offers some of the grandest residences in central London. Surrounded by private gardens the 51 Grade 1 listed new build apartments and 9 Mews houses are truly stunning. With ceiling heights up to 4.25m, 9000 sq ft of amenities and secure underground parking this really is one of a kind development.