The City Magazine November 2014 by Runwild Media Group

Uber vs Whoâ&#x20AC;&#x2122;s winning in the battle of the cabs?

Super

Chalet Europeâ&#x20AC;&#x2122;s most exclusive slope-side escapes

Return of

I s s u e

T h e

Crowdfunding

the floating hotel is back in fashion

Copycat Investing

Social networking and the wisdom of the crowd

Ahead of the curve Connecting start-ups with early adopters

A Power for Good

The micro-financing platforms fighting poverty

THE THEHEAD HEADSAYS SAYS YES. YES. THE THEHEART HEARTSAYS SAYS DEFINITELY, DEFINITELY,YES. YES.

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issue no.

NO V E M B E R 2 0 1 4

contents FEATURES

SAVING SPACES The City Magazine meets Eric Reynolds, the man that saved Spitalfields, Borough Market and Camden Lock from oblivion

RISE TO THE OCCASION Tiffany Eastland meets Rankin, as he puts down the camera and embarks on a search for the next generation of rising stars

35 BUSINESS & WEALTH – CROWDFUNDING YOUR WAY TO SUCCESS Never before has innovation, community and funding come together in such a creative mix

cOVER STORY: LIFE AFTER THE CITY

54 Sparring partners: uber vs maaxi Discover how taxi apps are changing the way we hail a cab 92

We meet ex-City banker and co-founder of Troubadour Goods, Samuel Bail

A NEW ERA FOR PRODUCT DESIGN Jack Phillips discusses the impact of technology on the way we design, make and use everyday objects

p24

64 REGULARS

Panther sketches, Isabelle Rey © Cartier

FOOD: NEXT GENERATION NIGHTLIFE Nick Savage shares the insider lowdown on London’s most exclusive haunts COLLECTION: CHANGING SPOTS Olivia Sharpe reflects 100 years of Cartier’s legendary panther and discovers a new fine jewellery collection

72 FASHION: COUNTRY CAPER We go hell for leather this season via boots, jackets and that classic biker look.

88 ART & INTERIORS: MONOCHROME HOME Reinvent a forever-in-style trend by setting the tone with monochrome

90 LIFESTYLE: TECH TALK Lights, camera, action – we put the spotlight on our pick of the best camcorders

100 MOTORING: A RETURN TO FORM Matthew Carter puts Volkswagen’s new Golf R through its paces 106

TRAVEL: a star is born As luxury cruise holidays enjoy a revival, Laura Binder sets sail with Celebrity Cruises

110

TRAVEL: rise of the super chalet Welcome to Europe’s most exclusive slope-side escapes

Eddy Galeotti / Shutterstock.com

138

HOMES & PROPERTY: A MORE PERFECT UNION Henry Hopwood-Phillips speaks to the heads of W.A.Ellis and JLL following their recent merger

Infiniti Q50

FOLLOW THAT INSTINCT

You feel the pull the moment you see its curves. But when you get behind the wheel, instinct really takes over. Driving you to experience the 170 PS direct injection turbo-charged Diesel or the 211 PS 2.0l turbo-charged Petrol engine. Forcing you to feel the visceral pleasure of world-first Direct Adaptive Steering. It’s time to follow your heart and give in to your instinct. Book your test drive now at infiniti-instinct.co.uk

INFINITI CENTRE PICCADILLY, 77 Piccadilly, London W1J 8HU. 020 3130 6726 Official fuel economy figures for the Infiniti Q50 range in mpg (l/100 km): urban 29.4 to 50.4 (9.6 to 5.6), extra urban 53.3 to 76.3 (5.3 to 3.7), combined 41.5 to 64.2 (6.8 to 4.4). CO2 emission: 159 to 114 g/km. Official EU Test Figures. For comparison purposes only. Real world figures may differ.

issue no.

Editor-i n - C h i e f Lesley Ellwood

Managing E d i t o r Emma Johnson (maternity leave)

NO V E M B E R 2 0 1 4

Contributors

a cting E d i t o r Richard Brown

a ssistan t E d i t o r tiffany eastland

Motoring E d i t o r Matthew Carter

Coll ec tio n E d i t o r Annabel Harrison

Staff W r i t e r Melissa Emerson

Editorial i n t e r n amy welch

Senior Des i g ne r Grace Linn

BRAND C ONSISTE N CY Laddawan Juhong

Ge neral M a n a ge r Fiona Fenwick

Produ c t i o n Alex Powell Hugo Wheatley Oscar Viney Amy Roberts

J A C K P HILLI P S

J A C K W AT K INS

J E NNIF E R M ASON

Jack is a roving writer and

Jack is a freelance journalist

Jennifer started out in luxury

radio producer originally

who has been published in The

fashion marketing and has

from London. Having written

Independent, The Guardian and

since worked as a writer in the

for Dazed and Confused, The

The Daily Telegraph. Jack meets

UK and Dubai , specialising in

Guardian, Vice, and Monocle,

Eric Reynolds, the man behind

motoring, travel , lifestyle and

he is currently stationed in

Borough Market and Camden

local features. For The City

Sydney. Following Apple’s

Lock’s revival , who is dedicated

Magazine, Jennifer embraces

iPhone 6 launch, Jack looks to

to saving London’s cultural

the intriguing design of the

a new era of product design.

landscape.

new Maserati Alfieri concept.

iPhone 6, from £539, Apple, apple.com

London. Portrait of a City. Art Edition B, £550, Taschen, taschen.com

Pro pert y D i rect o r Samantha Ratcliffe

Head of F i n a nce Elton Hopkins

Exec utiv e D i rect o r Sophie Roberts

Ladies leather driving gloves in black, £79, Aspinal of London, aspinaloflondon.com

Managing Di r ec t o r Eren Ellwood

Published by

RUNWILD MEDIA GROUP

One Canada Square, Canary Wharf, London, E14 5AX T: 020 7987 4320 rwmg.co.uk Members of the Professional Publishers Association

J OS E P HIN E O ’ DONOGHU E

M AR K W E STALL

M ATTH E W C ART E R

Based in the Cotswolds,

Mark is editor-in-chief of digital

Matthew is a former editor

Josephine has worked as a

contemporary art magazine FAD

of Autocar and a noted

writer and editor for seven

and on the advisory panel for

freelance journalist who’s

years, specialising in lifestyle,

STRARTA Art Fair. An advocate

been writing about cars for

travel, culture and local

of artistic innovation, Mark

most of his working life. Turn

responsibility for unsolicited

features. This month Josephine

introduces us to Sue Corke, an

to page 100 for his verdict on

submissions, manuscripts and

ponders how apps like Uber and

artist who fuses science and

Volkswagen’s new Golf R as

Maaxi have altered the London

art to create her sensory lunar

he puts the car through its

experience of hailing a cab.

landscapes.

paces on the track.

Runwild Media Ltd. cannot accept

photographs. While every care is taken, prices and details are subject to change and Runwild Media Ltd. take no responsibility for omissions or errors. We reserve the right to publish and edit any letters. All rights reserved. Subscriptions A free online subscription service is available for The City Magazine. Visit the subscriptions page on our website: rwmg.co.uk/subscribe

London black taxi keyring, £30, Aspinal of London, aspinaloflondon.com

We are Sorry for That, £POA, Sue Corke, berlonigallery.com

Golf R, £29,900, Volkswagen, volkswagen.co.uk

issue no.

NO V E M B E R 2 0 1 4

f r o m t h e E D I TOR

he age of the ‘Internet of Things’ is here. By the end of next year, a global system of interconnected computer networks will enable six billion devices to communicate with each other without human facilitation. Our lives are either about to get a whole lot easier, or we’re all about to be cast as bit parts in a real life Terminator Salvation.

Of course, before the Internet of Things (or IOT) there was the internet: a shop with infinite doors, a way of doing

‘engineers realised that it was not

business that evaded the physical. Through it, software became the world’s ultimate nonmaterial product. Created, stored and delivered through the web, it removed the burden of

just phones and tablets that could benefit from being connected to the web but...well…. everything. everyday objects could suddenly be given the

production and inconvenience of logistics and became every investor’s commodity du jour. Software was catnip for VCs. In the age of the Internet of Things, that’s about to change. Chips are shrinking, wireless technology is evolving and the magic of the internet is slithering out of our computers and into our possessions. Hardware is back.

quasi-intelligence of

Now come questions of how our connection to the internet will change the way we

computation.’

make, use and consume products. As we witness the biggest explosion in hardware start-

– p. 38 –

ups the world has ever seen, these are questions Jack Phillips discusses on page 92. The other way the internet is aiding the explosion of new businesses is through funding, or, more accurately, crowdfunding. Explore pages 35-47 to discover how the wisdom of the crowd is hastening a world where your house speaks to your thermostat and your kettle speaks to your fridge to see if you are out milk. Now, imagine that.

Richard brown, acting editor

Uber vs Who’s Winning in thE battlE of thE cabs?

Other titles within the RWMG portfolio

Super

Chalet EuropE’s most ExclusivE slopE-sidE EscapEs

Return of

I s s u e

t h e

CrowdfundInG

thE floating hotEl is back in fashion

CoPyCAt InvestInG

social neTworking and The wisdom of The crowd

On the cover (p. 24) AheAd of the Curve connecTing sTarT-ups wiTh early adopTers

A Power for Good

The micro-financing plaTforms fighTing poverTy

Image courtesy of Troubadour Goods, troubadourgoods.com

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22/10/2014 14:20

| LIFESTYLE |

THE CITY EDIT The commodities and consumables raising our interest rates this month

10 Years at the Top

he Gherkin celebrated its 10th anniversary last month, a decade after winning the 2004 RIBA Stirling Prize for excellence in architecture. It was the first time in the prize’s history that judges had reached a unanimous decision. Standing at 180m tall, it was, for better or worse, Lord Foster’s renowned design that inspired the capital’s skyline to become ever braver. Since its completion, the City has spurted 20 new towers, while a third of London’s tallest buildings have followed in its wake. The sixth tallest building in London (the fourth in the City), the Gherkin remains a much-loved example of architectural

innovation. Despite appearances, of the building’s 24,000 square metres of external glass – the equivalent of five football pitches – only one panel is curved; the dome at its zenith. The Gherkin’s maximum circumference is only two metres less than its height, while it’s diameter is twice as large at its centre than at its base. The building is currently up for sale. The winning bidder is expected to pay upwards of £650m. The Gherkin’s official name, 30 St Mary Axe, pays homage to a now-vanished church that is believed to have contained an axe used by Attila the Hun. 30stmaryaxe.com

THE CITY MAGAZINE | November 2014

THE CITY EDIT Amazon set for City fringe Images have been released of the building that could become Amazon’s new UK headquarters. After 18 years at Slough, the ecommerce giant will move 5,000 of its staff from west to east. Principal Place (designed by Foster & Partners) will occupy a space between Liverpool Street and Old Street Station on the corner of Curtain Road and Worship Street. Law firm CMS Cameron McKenna was originally lined up as the £290 million mixed-use development’s anchor tenant but pulled out in January 2012.

Swiss Army Style Knife collectors, and they do exist, might like to know that no-nonsense Swiss army supplier Victorinox has launched a special-edition camouflage-printed knife with matching orange lanyard. The Black Ice Classic SD further differentiates itself from its silver-bladed brethren by way of black anodised blades. Just don’t get caught filing your nails with it. Black Ice Classic SD Knife, £62, Victorinox, victorinox.com

Bomber Viveur

Statement Sneakers Upgrade your Nike Pegasuses to a pair of Valentino sneakers. In time for winter, the Italian brand has updated its cult-favourite trainer by combining leather panels with silver metallic mesh and neon-bright suede. Find the label’s signature studs at the heels and similarly patterned rubber soles underneath. Pair with slim-fit jeans and a colour-block sweater to stand out from the crowd.

Suede and Metallic Mesh Trainers, £345, Valentino, mrporter.com

Paris-based A.P.C. has become renowned for its understated and masculine wardrobe staples. The brand’s flannel shirts and cable-knit sweaters make great for autumn, as does this military-inspired khaki-green bomber jacket. Made from cotton-blend twill, it has all the classic bomber hallmarks and is finished with a winter-ready cream shearling collar that can be removed when spring rolls back around. Hunter Bomber Jacket, £455, A.P.C, matchesfashion.com

THE CITY MAGAZINE | November 2014

| LIFESTYLE |

Alpine non-Essential Because it’s hard to show off your latest banger of a watch whilst skiing, project your horological nous through your skis. The rubber upper coating on Hublot’s All Black examples creates a soft-matt look reminiscent of a watch strap. Elsewhere, the merging of carbon fibre, fibreglass, steel, rubber and stone justifies the watchmaker’s crown as the master of fusion. Just don’t forget to take the skis with you once après-ski comes to its toffee-vodka-ed conclusion. All Black Skis, POA, Hublot, hublot.com

Pimp my bean bag Dedicated to baseball legend Joe DiMaggio, the giant Joe Seat was first designed in 1970 by Italian architects Jonathan De Pas, Donato D’Urbino and Paolo Lomazzi. The original forms part of the permanent collection at the Museum of Modern Art in New York. This modern-day version is manufactured from Scandinavian leather in Italy. Joe Chair, £9,000, Centro Studi Poltronova, conranshop.co.uk

Interior of the Year

Curved Lines It doesn’t matter what you’re wearing, pop a Breitling Chronomat from below your sleeve and it’s the rest of your outfit that becomes the accessory. Manly to the extreme, the latest 41mm version comes equipped with a chunky, screw-locked crown and substantial protective control guards. Give subtlety the shoulder and choose the contrasting steel and rose-gold edition. Chronomat 41mm Automatic Chronograph 18kt in Rose Gold and Stainless Steel Bracelet, £9,810, Breitling, Fraser Hart, One New Change, EC4M

A Hong Kong restaurant has won the top prize at the 2014 World Interior of the Year awards. Beating Harrods’ Escalator Hall, as well as 60 other nominees, the Joyce Wang Studiodesigned Mott32 took the accolade at last month’s World Festival of Interiors. The project, which turned a former bank vault into an underworld dining den, was lauded for its “theatrical environment” and “sophisticated” detail. mott32.com

THE CITY MAGAZINE | November 2014

CITY social

KEEPING the epicure nourished WITH the square mile’s Latest launches and CULINARY CRAZES

Do as the Italians do L’Anima restaurant is a familiar City haunt, and its little sister L’Anima Café is now up and running around the corner. A more relaxed and versatile environment, it’s less minimalist and white, more Vespas (an

Hit the Books The House of Krug was founded in 1843, and its impeccable standards in Champagne have earned it a legion of famous fans, from Ernest Hemingway and Alain Passard to Karl Lagerfeld and Francis Ford Coppola. A new coffee-table classic from Assouline revels in this rich history through unseen archive images, personal anecdotes and quotes from various Krug lovers. Introduced by director of the House and sixth-generation Krug, Olivier, and Sotheby’s worldwide head of wine Serena Sutcliffe, you can brush up on your knowledge for party season. RRP £40, published by Assouline, assouline.com

10 Appold Street, EC2A 2AP, 020 7422 7080, lanimacafe.co.uk

Raise the Bar With cult Crosstown doughnuts on the menu, Barsmith is definitely ahead of the Joneses. Its own innovations are courtesy of its custom lab, which creates fresh cocktail infusions, from chilli gin to white chocolate vodka. Food has a populist Italian influence, with deli meats, cheeses and pizzas, and Thursdays start the weekend early with live music. 18-20 St John Street, EC1M 4AY, 020 7336 6099, barsmith.co.uk

THE CITY MAGAZINE | November 2014

original 1956 Lambretta, to be precise) and giant leather sofas. Alongside the bar and restaurant, an on-site deli sells the essential morning coffees and fresh juices and artisan produce like olive oil direct from the drum. In true Italian spirit we prepared for a dinner of numerous courses and started by spreading spicy nduja on baked in-house pastries and breads, before a melt-in-themouth Puglian burrata and mixed roast peppers. The restaurant hosts an impressively fiery pizza oven, great for casual dining, and we opted for a thin, crispy pizza Siciliana with aubergines and salted ricotta and an extra why-not side of tagliata di manzo (sliced sirloin with rocket and aged grana padano). Only problem is, the menu’s so tempting we bit off more than we could chew.

| NEWS |

The Suite Life

The City secret you ought to know... 4 Devonshire Row, Bishopsgate, EC2M 4RH, 020 7655 4805, thebullandthehide.com

The Bull & The Hide is not the average British pub-with-rooms, operated by Hush Heath winery, you’re more likely to be wine tasting than polishing off pints. For dinner, the trick is to try and extend dessert, as if the rooms and brand-new suites aren’t all booked by 10.30pm, they are released to remaining diners for only £50, including complimentary vanity kits. With a saving of up to £245 for a one-night stay, you might just get lucky...

A Tall Order Water to Wine New City hotspot The Alchemist is more laboratory than bar, with experimental equipment, unusual techniques and cocktails inspired by occult alchemic practices. Concoctions in kettles and hip flasks range from the Alchemist’s Apprentice non-alcoholic mixes to the full-blown Barrel Age Corpse Reviver, with a hint of citric acid and absinthe. Food is served all day, or if you feel like quitting your day job, cocktail masterclasses are on offer for budding mixologists. 6 Bevis Marks, EC3A 7BA, 020 7283 8800, thealchemist.uk.com

Eat & Sleep

The Shard, 32 London Bridge Street, SE1 9SG, 020 7268 6700, oblixrestaurant.com

More than one year into its opening at The Shard, we still have our head in the clouds over Oblix and revisit to enjoy its latest offerings Rainer Becker’s iconic restaurants (Zuma and Roka among them) might have gone global, but Oblix has been a City favourite since it opened in May last year. The restaurant references a New York grill, but located on the 32nd floor of The Shard, the London skyline is more than competition for anything that Manhattan has to offer. In the main restaurant, an à la carte menu is on offer from lunch to dinner, with brunch on weekends, and for group bookings there’s the Library Table, surrounded by tomes chosen by Becker and ideal for up to 12 guests. With the lounge and bar area capable of taking as many covers as the restaurant, we wanted to see if the food here is just as well-thought out. A new lounge menu was recently launched, emphasising the popular sharing concept. With a range of smaller dishes perfect for mixing and matching, we had the chance to try a bit of everything. Top creations were an iceberg salad with blue cheese, pecans and pancetta, and truffle flatbread with ricotta and maple onions, while the more mainstream raw, fried and seafood categories hosted bite-sized and irrestible classics like squid, lobster and beef tartare. The dishes are designed to complement the similarly new cocktail menu, with its foodie flavour inspirations. The culinary approach, mixing home-made ingredients and premium spirits, means the menu reads like an ingredients list with balsamic, ginger, pear and pineapple. However, if wines are more your speciality, the interactive sommelier station is a perfect pre-dinner plan, available to book for tastings and masterclasses – a rare opportunity to try some of the finest wines by the glass.

THE CITY MAGAZINE | November 2014

| LIFESTYLE |

Bon Viveur

Our man-about-town, Innerplace’s Nick Savage, gives you the insider lowdown on London’s most luxurious haunts

Next Generation Nightlife

ongevity is difficult to come across in London nightlife. The impresario’s dilemma is ensuring that a club is attended by the right sort of people, aiming to create a slow burn that will sustain the venue rather than a flash in the pan that begins with a bang and ends with a whimper. It’s important to make sure the celebrities, the models, the artists and the scenesters are all attendant, but big spenders are equally necessary. Tip one way or the other, and your club is either uncool or insolvent. Mayfair’s new bumper crop of nightclubs have all approached the issue with the same tack, by headhunting some of the most connected names on the scene and letting them do what they do best – let the right ones in.

Le Peep Boutique

Le Peep Boutique Nestled behind heavy black doors on Park Lane, Le Peep Boutique was opened at the beginning of October by Mark Alexiou, the man behind Pangaea and Verbier’s famous Coco Club. His newest project borrows inspiration from the Paris of the Roaring Twenties. Guests enter through an outsized, wrought-iron birdcage boasting themed performances in a window alcove as well as aerial dancers suspended from its ceiling. The most notable attribute of the room is its ceiling, which has been installed with an expansive LED screen portraying scenes from the City of Light. Alexiou has taken great care in selecting his membership committee. With Tom Hardy, Ray Liotta and David Gandy for a start, Le Peep Boutique is one to watch. Toy Room Boutique clubs are very similar to house parties. Too crowded and they’re hellish; too empty and you’ll contract a chronic case of FOMO. Luca Maggiora, the man behind Project, has approached this concern by hiring top names for his newest venture Toy Room – including Jordan Rocca, Corrado Mozilla and Max Della Torre Tasso – jettisoning guest lists and VIP areas and operating on an invitation-only, table-driven model. The hip-hop club is really just one large room, with studded leather panelling adorning the walls, buttonback Chesterfields, exposed wooden beams, paintings of pop culture icons by Philippe Cardin, a bar nestled in the corner and a DJ booth recessed in the back wall.

Toy Room

Innerplace is London’s personal lifestyle concierge. Membership provides complimentary access to the finest nightclubs, the best restaurants and top private members’ clubs. Innerplace also offers priority bookings, VIP invitations and insider updates on the latest openings. innerplace.co.uk

Café Kaizen

THE CITY MAGAZINE | November 2014

Toy Room

Café Kaizen Café Kaizen was spearheaded by Jin Nilsson, Dan Kapp, Timo Weber and Zues Sherlock, who have drawn on a wealth of experience gleaned from careers at venues including Le Baron, Cuckoo Club, Whisky Mist and Movida to create something unlike anything Mayfair has seen before. Turning to both the East End and the Far East for inspiration, Café Kaizen opens its doors at 3pm as an indoor market with up-and-coming fashion designers plying their wares and more salubrious beverages on the menu, including coffee and smoothies. As the evening unwinds, Café Kaizen evolves to woo Mayfair revellers, advancing from a lounge bar serving dim sum, sushi and cocktails to become a full facility nightclub complete with table service. Furniture has been upcycled from Manhattan’s Man Ray Club and, in keeping with Café Kaizen’s Japanese heritage, there are cherry blossom trees spread throughout. This innovative approach to Mayfair nightlife has already won it a devoted clientele.

| PROMOTION |

OFF THE RAILS The City Magazine has teamed up with Team Steam and bartender extraordinaire Andy Mil to give you a sneak peek at Steam & Rye’s latest cocktail creations…

utumn has arrived at one of the City’s favourite night spots, Steam & Rye. This month, the palace of pleasures has plenty of eccentric American hospitality planned, including ‘Scream & Rye’ Halloween events, the London Quintessential Thanksgiving and, of course, Steam & Rye’s 1st Birthday Party. Founders Nick House and Kelly Brook invite you to celebrate and sample the capital’s craziest cocktails.

Let’s Get ‘Redy’ To Rumble Britain’s best bartender and Team Steam have this month concocted a cocktail that packs a punch. Served in a giant fist, the Let’s Get ‘Redy’ To Rumble is expertly mixed with Havana seven-year-old rum, fresh lime, pure honey and Red Bull Red.

Steam & Rye, 147 Leadenhall Street, EC3V 020 7444 9960, steamandrye.com

She’s My Cherry Pie Team Steam has hit the high note with its latest concoction, a cocktail inspired by Steam & Rye anthem and dazzling dance number ‘My Cherry Pie’. Mixed with lashings of Disaronno amaretto and a dash of cherry liqueur, this clever creation has been blended with homemade cherry icecream and then finished with its very own cherry pie.

Throughout November, Steam & Rye is giving you the chance to sample all of its new cocktails

for £5 every day until 8pm Just quote #offtherails to your expert bartender on arrival.

THE CITY MAGAZINE | November 2014

Skate in the City at Broadgate Ice Rink 17 November 2014 to 26 February 2015 Book tickets now at www.broadgate.co.uk/ice

Exchange Square Broadgate Just two minutes from Liverpool Street Station @BROADGATELONDON

FACEBOOK.COM/BROADGATELDN

| LIFESTYLE |

Life IN Fifteen minutes with the Square Mile stalwarts of which every City sybarite should be aware…

ounded by Jamie Oliver, Barbecoa is the UK’s first barbecue steakhouse. The restaurant boasts a team of in-house butchers who source and prepare some of the best meat in Britain. For every 800 carcasses it sees, Barbecoa will usually pick around six, going on to dry-age the meat for up to 70 days. Barbecoa also offers a selection of on-site butchery masterclasses.

Sophie Cumber Senior Butcher at Barbecoa

Which cut of meat is the most underrated? Cheaper cuts of steak generally. Sometimes I suggest rump steak to customers and they turn their noses up, but it’s a beautiful cut of meat with great flavour. At Barbecoa we cut our rump into different sections. By treating the different muscles as separate bits of meat, you lose any sinewy bits that hold the muscles together. Shoulder of lamb too. People think it’s fatty and tough, but cook that bad boy in the oven for a few hours and the fat will have melted away and it will be as tender as anything. What’s the best dish to impress at a dinner party? Take a cheaper cut of meat and elevate it into something spectacular. My favourite would be ox cheek (beef cheek) in red wine. Simple but delicious.

Favourite Meat Lamb. Cut Shoulder for slow cooking, rack for quick cooking. Dish and wine pairing You can’t beat slow-cooked fatty pork with a fruity and zesty white wine. Restaurant St John Bread and Wine near Spitalfields. Nose to tail eating is where it’s at! Vanilla Black, near Chancery Lane. It has taken vegetarian food to a new level. Holiday destination I am a big fan of old Hollywood and rock ‛n’ roll culture, so it has to be Los Angeles.

Should meat and eggs from caged hens be banned? At Barbecoa we only source our meat and eggs from animals that have been free to roam during their lives. Personally, I would always rather eat meat where I know the animal has had the highest quality of life. It also produces a way better flavour. What’s the worst mistake a butcher can make? Not keeping their knife sharp! Having a sharp knife is the key to cutting the meat neatly and quickly. It also prevents you from injuring yourself. The edge of your knife should be doing the work as opposed to you using excess force, which, if you slip, could be dangerous. What can people expect from a Barbecoa butchery masterclass? You will learn about breaking down meat from its primal form into the cuts you know and cook. A member of our team will guide you through the breaking-down process and then you’ll work on your own hunk of meat to turn it into various different cuts for roasting, frying, grilling etc. What’s the City’s best drinking den? We head towards Smithfield Market to the aptly-named Butchers Hook. Personally, I’d always head for Borough Market where you can get good drinks and some great nibbles along the way! Best place to cure a hangover? In a fridge cutting steaks at 6am, surely? Alternatively, our restaurant does a banging weekend brunch. Your best bit of butcher-related trivia please… Fillet steak is the most tender piece of meat you can find on a beef animal. This is because it is a muscle that has done no work during its life; it is there to protect the animal’s inner organs from the bones on its back and ribs. On pork it is what is known as tenderloin. Barbecoa’s butchery masterclasses are available from £125pp. Barbecoa, 20 New Change Passage, EC4M 9AG, 020 3375 5553, barbecoa.com

THE CITY MAGAZINE | November 2014

| LIFESTYLE |

Life AFTER The Square Mile alumni making waves away from the fickle waters of finance

x-City bankers Samuel Bail and Abel Samet spent years in pursuit of a well-designed, high-quality overnight bag that could transition seamlessly from situation to situation. When they discovered that something so simple didn’t exist, they created Troubadour Goods – a super-chic, London-based men’s accessories brand dedicated to beautiful, stylish and practical products for the travelling professional. What inspired the move from banking to bags? We couldn’t find the bag we wanted for ourselves. Working in finance, we needed something that was functional for our lives, as well as aesthetically appealing. Our ideal bag was one that wasn’t too flashy, so we could take it to a meeting, and not too formal, so we could take the same bag on a weekend trip. What’s the biggest difference between fashion and finance? You need both the business and the design to be aligned. Our team is passionate about both good design and good business – they are equally important to us.

Samuel Bail

co-founder of Troubadour Goods

Age: 28 Previous Employer: Lazard, financial advisory and asset management firm

What’s the most significant lesson you’ve learnt since going it alone? Don’t go it alone! The success Troubadour has seen is because we’ve found great people with experience and talent in the right areas to help. The key to running a successful business is… Execution. So many great ideas or designs are let down because of poor execution. We’re obsessed with testing our designs to ensure every detail is functional, each hide of leather is tanned perfectly and each stich, rivet and finish happens as planned. Biggest risk you’ve ever taken in your life? Cycling from Cairo to Cape Town a few years ago. The incredible memories and sense of achievement I have make it absolutely worth it though. I’ll probably say exactly the same thing about co-founding Troubadour in a few years’ time! The thing you are most scared of is… I always have some fear that Troubadour won’t keep growing as fast as I’d like it to. It’s a lingering fear that motivates me to make sure we deliver perfect products, take care of our customers and find the best people to help Troubadour develop. Three historical or living figures you’d like to have dinner with? Albert Einstein, so I could learn some interesting facts about the world and the universe; Warren Buffet, so I could get his opinions on how to continue growing Troubadour; but the guest of honour would have to be my grandmother; she’s the most inspiring and entertaining person I know. In the next two years you are going to… We want to continue to create products that will last for several decades. Our focus is on building trust and genuine relationships with our customers. In terms of expanding our reach geographically, we’ve had a lot of demand from the US and Asia, which we’re keen to explore, so hopefully an everincreasing number of people will encounter Troubadour on their travels. Troubadour has recently collaborated with Thom Sweeney to create the Suit Carrier (£1,495) and Day Bag (£1,195). Available now from Thom Sweeney outposts.

THE CITY MAGAZINE | November 2014

Favourite Book The Fountain Head by Ayn Rand. Film A tie between Breaking Away and Annie Hall.

City New York. Restaurant A few on the list are Clove Club in London, Maialino in New York, 28-50 in London, Bar Isabel in Toronto and Osteria L’Upupa in San Miniato.

Lee Valley VeloPark, Queen Elizabeth Olympic Park Ready for your next challenge? Track | BMX | Road | MTB

Book your session now visitleevalley.org.uk/velopark

THE CITY MAGAZINE | November 2014

Spitalfields Market Eddy Galeotti / Shutterstock.com

| FEATURE |

Saving Spaces

Eric Reynolds rescued Spitalfields, Borough Market and Camden Lock from oblivion. This summer, his proposals for reviving Smithfield persuaded Secretary of State for Communities and Local Government Eric Pickles to veto planned redevelopment of the market. The City Magazine meets the man dedicated to saving London’s cultural landscape Words: Jack Watkins

Eric Reynolds

’m a capitalist,” says Eric Reynolds, with studied emphasis. “It’s what I do. I spend money to make money. But I don’t kick someone else in the teeth at the same time. And neither do I demolish buildings that I don’t need to.” Mr Reynolds speaks with the quiet confidence of a man with a long and impressive track record. Since the 1970s, he has been the mastermind behind a slew of creative regeneration initiatives that have breathed new life into derelict or rundown areas of the urban landscape, finding new roles for heritage structures hitherto deemed obsolete. Borough Market, Spitalfields, Camden Lock and Merton Abbey Mills are just a few of the locations that have received his magic touch. At a time when London, countering the national trend and emerging relatively unscathed from the recession, looks like a gigantic building site in places, it would do well to heed the words of this holistic nurturer and marketer of successful

THE CITY MAGAZINE | November 2014

|FEATURE |

business enterprises and retail initiatives. Because, for the director of Urban Space Management (USM), the company he founded in the 1970s, buildings and the environment in which they operate, as well as an eye for the long term, are elements of successful business planning that we neglect at our peril. The sparkling glass cages that are springing up everywhere may look deeply impressive but their lifespan is finite and in the long term our obsession with them may be self-defeating, believes Mr Reynolds. “Diversity is a key part of the capital’s attraction to international business,” he points out. “It’s not just Canary Wharf, it’s the Tower of London, the 47 theatres of the West End and the various surviving Victorian market food halls. In Paris, all that has gone.” Modern buildings, he argues, don’t have built-in heritage value and most have a shelf-life of only 25 years. “If commercial activity is simply about sheltering a workforce, that’s completely acceptable. But none of those structures will have a purpose beyond the time that workforce has a use for it. You only have to look at the vast number of empty factories north of London to see that. They are no longer useful, and it is hard to imagine how they can be in the future.” Our interview takes place in the USM HQ at the remarkable and otherworldly Trinity Buoy Wharf, just next to East India Docks. The company holds the three-acre site on a 125-year lease and has transformed what was an area of no perceived value into a multi-purpose site for small business in the creative industries. He describes it as a mixed economy, with most of the enterprises there paying a commercial rate, but some of the business operators paying only a quarter of that. “We’re running a balanced economy, where, just as socialists would like to happen,” Reynolds laughs, his tongue only partially in his cheek, “the rich pay more and the poor pay less.” The businesses are situated in a mix of converted warehouse buildings and – a typically ingenious Reynoldsian concept – reconditioned shipping containers, whose strong yet lightweight frameworks minimise the requirement for concrete foundations, while drastically reducing building costs. Facilities at Trinity Buoy Wharf comprise health and educational establishments, including a prep school, a restaurant and a gallery. Live concerts are regularly staged there too. Among the tenants is the English National Opera, which leases one of the dockyard buildings as a workshop, and Thames Clippers, which moors its catamarans there. A spectacular lightship, formerly owned by Trinity House, now serves as a recording studio. Demand for space is high and USM has just erected a new building. But, says Reynolds, the key to success is that development has been “an evolutionary process,” taking place over nearly 20 years after the company purchased the site from the now defunct London Docklands Development Corporation in 1996. “We have been able to develop a model which demonstrated best value, without relying on a large funding commitment.” Not only has new development been incorporated into the area, but also a fascinating fragment of London’s maritime history been given a new lease of life. It’s also typical of USM’s ability to make a silk purse out of a sow’s ear. One of the company’s earliest

THE CITY MAGAZINE | November 2014

successes was a high-profile one, the transformation of the derelict canal side wharf of Camden Lock in 1974, in a scheme including a mix of market stalls, shops, studios and restaurants. It helped pioneer the revival of Camden Town as a go-to destination, although Reynolds admits to disliking what it has become. Gabriel’s Wharf – “One of the nicest bits of the South Bank,” opined the Evening Standard – was another of USM’s more notable successes. Spitalfields Market, meanwhile, may be a shadow of its former self, but Mr Reynolds is proud of the fact that after USM’s involvement in a joint venture with the Spitalfields Development Group to create a ‘food village’, from being worth nothing, the value of shares in the site had gone up to £8m by the time the company sold them to the City of London, and were worth £15m when they, in turn, sold them last summer. It’s why Reynolds is so baffled that the Corporation and owners Henderson were so opposed to a similar plan for Smithfield Market. “Both Spitalfields and Smithfield are historic buildings and wonderful market halls – Smithfield, in fact, is even better, and it’s right next to the most populous railway connection in Europe. How can they not be persuaded by the idea, considering the success at Spitalfields was achieved against a much more

“I spend money to make money. But I don’t kick someone else in the teeth at the same time. And neither do I demolish buildings that I don’t need to” difficult economic background in East London?” In the event, the Secretary of State Eric Pickles overturned the City of London’s decision to give a green light to the demolition of the Western Market in favour of new shops, restaurants and offices after a public inquiry, the inspector’s report stating that the buildings were “an essential part of the City’s character, contributing significantly to the cultural identity of London.” Could this mean that the USM/Save Britain’s Heritage plan, which requires no demolitions of historic structures and would, insists Reynolds, achieve a bigger profit margin for five times less cost, be back on the table? Mr Reynolds says his door is still open. “We’ve firmly said we are happy to give them all our thinking, all details of potential users. They tried very hard at the inquiry to prove we didn’t have the money and couldn’t get any banks to lend to us, but that’s simply not true. I don’t think there would be any trouble at all in putting together a consortium of people to carry this forward.” It’s not the glossiest option, but it’s the most popular one with locals. And it certainly remains true to USM’s guiding principles of treading lightly on the ground, leaving space for creativity and listening to the place and the people. For more details on the attractions of Trinity Buoy Wharf, please visit trinitybuoywharf.com

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CLOCKWISE FROM TOP LEFT Borough Market, © pcruciatti; Borough Market, ©AC Manley; Spittalfields Market, ©Kiev. Victor; Camden Lock, ©Pedro Rufo; Smithfield Market, ©Nando Machado; Smithfields Market, ©Rob van Esch; Borough Market, ©pcruciatti; Borough Market, ©Elena Dijour; Smithfield Market, ©Cedric Weber All images from Shutterstock.com

Camden Lock

THE CITY MAGAZINE | November 2014

RISE TO THE OCCASI O He’s photographed everyone from the Rolling Stones to Her Majesty the Queen, but now Rankin steps out from behind the camera in search of the next generation of rising stars Words: TIFFANY EASTLAND

’ll admit, when Johnnie Walker arranged for me to meet Rankin at his north London studio, I couldn’t help but feel a little intimidated; I had placed Rankin high on a pedestal, and as far as I’m concerned, justifiably so. In hindsight it’s rather ironic, given just 15 minutes later, the man himself told me: “You really can’t put people on a pedestal; you have to treat them all as normal.” And if anyone has experience of this, it’s Rankin, who had his first brush with fame when he was still at college. “When I was at college I photographed artists Gilbert & George, because somebody told me they were in the phone book.” Then when he and Jefferson Hack

THE CITY MAGAZINE | November 2014

started British style magazine Dazed & Confused, he was approached with an opportunity to photograph his next big name, BjÖrk. “For me it was like I got paid £1,500 to do what I absolutely love doing, and it was such a massive amount of money to me then.” Clearly pegged as a rising star himself, I was somewhat surprised to hear Rankin say that very early on in his career, he was not always destined for the world of photography. In fact, he was on his way to becoming an accountant when, fortunately for us and the industry (that is photography, I can’t speak for finance), he ended up in a residence hall with a load of art students and found himself dating a girl

| FEATURE |

I ON

Rankin, photo by Vittorio Zunino Celotto

THE CITY MAGAZINE | November 2014

BELOW Italian actress Sveva Alviti and boyfriend Francesco Pozzessere at the Johnnie Walker Gold Label Reserve and Vanity Fair Rising Stars event Photo by Venturelli/Getty Images for Johnnie Walker Gold Label OPPOSITE PAGE, CLOCKWISE FROM TOP LEFT Colin Firth, Rupert Grint, Björk and Tilda Swinton © Rankin The photobooth will be stationed at Steam & Rye until 13 November, then at Fayre of St James at Quaglinos on 27 November, before popping up across London until the end of February 2015.

who was into fashion. And while it may not have always been part of his grand plan, the interest was there before he even realised it: “It’s a weird thing and I don’t know why, maybe it’s because I like film but I always used to frame things while driving in my dad’s car.” Being the blank canvas that Rankin was, no education and no background in art, he went completely mad for photography. His parents on the other hand, despite their continued support, found it difficult to understand, so much so that, his dad didn’t speak to him for a year. After Rankin’s parents attended his first endof-year show, they began to understand just how much it meant to their son. In fact, his dad said: “people will either love or hate your work, it’s not mediocre.” Rankin admitted it was a strange route in to photography, and that at times he did have a bit of a chip on his shoulder, not having had that education: “I think in a lot of ways it was a good route in because it gave me a real work ethic.” To support his expensive new career, Rankin worked as a porter in a theatre and cinema. Now his work is anything but menial. When I asked him who he enjoyed photographing most, he struggled to respond initially: “I mean it’s so hard to answer that question, there are just so many. I get to meet my heroes and such a range of different people so I find it really hard to say.” He eventually names Heidi Klum, who according to Rankin is incredible to work, with and of course his heroes, the Rolling Stones, who were equally amazing he assures us. And then, there were a few who surprised him: “Kylie Minogue has always really amazed me. She is so good in front of the camera, she’s like a model. And Lindsay Lohan weirdly, she’s great in front of the camera.” Rankin says it’s all about an exchange: “When you photograph Kate Moss, it’s such an exchange. Models kind of get a bad rap I think, of not doing very much, when actually it’s so collaborative what you’re doing with them. It’s a collaborative exchange, and that’s what’s exciting about it.” For Rankin, there’s something also very special about photographing people on their way to success: “I remember when I photographed Jude Law for the first time and thought this guy is going to be massive. You could just tell. It was palpable, you know.” And it’s this desire to capture individuals during their rise to stardom that prompted a collaboration with Johnnie Walker Gold Label Reserve. Rankin has teamed up with the luxury Scotch whisky producer on the search for a new generation of rising stars, unveiling the ultimate photobooth during the Venice Film Festival. The campaign encourages talented and aspiring individuals to step inside for a chance of a starring role in an online Johnnie Walker Gold Label Reserve campaign, to be shot by Rankin in 2015. Now that’s a money-can’t-buy opportunity, but the question remains, do you have what it takes to rise to the occasion? johnniewalker.com

THE CITY MAGAZINE | November 2014

| FEATURE |

“I remember when I photographed Jude Law for the first time and thought this guy is going to be massive. You could just tell. It was palpable.” THE CITY MAGAZINE | November 2014

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CITY BRIEFING Named and shamed… Barclays continues to spearhead the empowerment of junior bankers by asking associates to name three nice VPs and three nasty VPs they’ve interacted with. The ‘Team Working Practices Survey’ may have good intentions, but has been criticised for suggesting that ‘niceness’ is a prerequisite for managerial success.

236,900 … The number of people employed in the City. The workforce in the Square Mile is soaring past its pre-crash peak. Since 2007, the number of people working in London’s financial nucleus has risen by 6,800.

£755k …

The prize money French economist Jean Tirole has received for winning the coveted 2014 Nobel Prize in economics for his work on oligopolies. The prize, which focussed on ‘taming powerful firms’ rendered Tirole speechless, he was “so moved” by the award.

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Crowdfunding Your Way to Success – inspirational ideas validated by the crowd

Social Physics and Honest Signalling – why social trading works

The Evolution of Equity – how the sector has become an asset class

Crowdfunding the Fight Against Poverty – microfinancing and the power for good

Crowdfunding Supplement overview

rowdfunding – the practice of funding a venture by raising many small amounts of money from a large number of people – is hardly a new concept. The Statue of Liberty relied on it in 1875; 30 years previously, it was crowdfunding that enabled Nelson’s Column to rise from the ground. More recently, the power of the crowd was underlined when Barack Obama’s 2008 election campaign crowdfunded its way to £88m. What’s happened since is that ‘alternative’ finance has gone mainstream. Couple the tightening of traditional lines of capital with the development of the web 2.0, the globalisation of social interaction and the freeing of information and you have the necessary conditions in which crowdfunding can flourish. As interest rates crashed and banks grew cautious, raising funds through peer-to-peer lending became a legitimate option for capital-seeking start-ups and investors looking to better the returns offered by interest rates. What developed from a fledgling sector in 2011 has grown into an industry expected to be worth £1 billion in the UK by next year. Currently, according to the Crowdfunding Centre, more than £3,500 is being raised in this country every hour. Since the beginning of 2014, more than 6,561 projects have been given the finance to go into business. Talking to the companies that have become the industry’s biggest players, we look at how crowdfunding platforms are continuing to disrupt the traditional finance space. Crowdrooster founder and CCO of Unbits.com Patrick Hussey explains how crowdfunding has joined forces with what’s been termed ‘the Internet of Things’ to tempt capital back into hardware, while Yoni Assia, CEO and founder eToro, discusses how the sector is enabling a true democratisation of the financial world. By its very nature, crowdfunding can seem like it’s owned by the tech sector. Yet one of the biggest collections of real-world benefactors has been charities. Concluding the section, Lendwithcare’s Jo Broughton tells us how crowdfunding is combining with microfinance to aid the fight against poverty.

THE CITY MAGAZINE | November 2014

Crowdfunding Crowdfunding Your Way to Success Crowdfunding has taken the UK by storm. Never before has innovation, community and funding come together in such a creative mix, says Crowdfunder’s Jessica Ratty

ou name it, it’s been funded in some way, shape or form, on top of the crowd sourcing, organisations, grant givers and funding bodies are taking on the rise of crowdfunding as a way to fund inspirational ideas that have been validated by the crowd. At Crowdfunder we have a success rate of 40 per cent compared with the UK average of 23 per cent, and it’s the crowd that are making this social change a reality – helping thousands of people to turn to their networks, and their own crowd, to raise the funding they need to make their idea a success. FC United received incredible support from funding bodies, including Sport England, the Football Foundation, the Department of Communities and Local Government and Manchester City Council, but in order to maximize the funding, it needed a further £50k to kit out its function rooms and kitchen, which is when it turned to Crowdfunder. The club’s original target of £27k funded incredibly fast thanks to a super-supportive community and it ended the fundraise on Crowdfunder raising a total of £51k thanks to the pledges from the community. Andy Walsh, general manager of FC United, commented, “We were amazed at the reach of our campaign and the support

THE CITY MAGAZINE | November 2014

it generated in Manchester and beyond. Our crowdfunding campaign gathered everyone together for a common cause and has left us stronger as a football club and we believe broadened our reach.” Manchester Veg People’s vision was to get a food revolution growing in Manchester. It wanted to get more local veg from the fields around Greater Manchester onto Mancunian plates. But it needed to purchase a van that could refrigerate the produce and allow it to deliver food direct to customers. Working with Crowdfunder, it went out to the crowd to ask for pledges of cash in return for rewards like naming a chicken, meet the farmer and exclusive invites to a pick-and-cook event party. Within six weeks not only had it crowdfunded £16k, but the money raised had unlocked 40 per cent of match funding from the EU – turning £16k into a massive £22k. It also received more than 300 offers of support in kind. Following the crowdfund, Katie Brandon of Manchester Veg said: “We’re ecstatic that the campaign hit the target. It was a nail-biting six weeks but the support and messages we received were amazing.” Crowdfunding may often seem like it’s owned by the tech sector, being a natural fit with the rise of digital, but the

| BUSINESS & WEALTH |

Hearing Dogs for Deaf People, which launched a crowdfunding campaign earlier this year

“Crowdfunding’s real impacts on society are coming from community groups, charities, businesses and social enterprises”

real impacts on society are coming from community groups, charities, businesses and social enterprises that are fuelling economic development in their sectors. Annan Harbour Action Group raised £6k from the crowd to unlock a further £36k from funding bodies: the European Fisheries Fund and Dumfries and Galloway Council. The £42k that was raised will enable the group to dredge the harbour before rejuvenating it and improving the economy of an old town with a rich history. Serge Gomes da Silva, of FARNET, who was a part of the European Fisheries Fund team that awarded Annan Harbour more than £26k in funding after it successful Crowdfunder campaign, said: “As a tool to secure match funding, crowdfunding opens new possibilities for local communities to apply for support from funding bodies. The most exciting aspect is that by gathering the support from the local community, or even beyond, project owners are able to prove that their idea has the backing from the crowd that supports their project for further funding.” Businesses are also using Crowdfunding to market their ideas, raise funds for new products and reach new audiences. Snact, known as fruit activists, launched its business via an innovative Crowdfunding campaign, raising more than £13k. Having decided that “making fruit jerky

beat sitting behind a desk all day,” Michael Minch-Dixon and Ilana Taub pooled their shared interest in food and sustainability to form Snact. Over nine months, the duo researched technologies, developed processing techniques, tested their product and shared their idea with as many people as possible. Once confident that it was ready for enjoyment by the masses, Snact launched its Crowdfunder campaign and 273 happy ‘Snactivists’ gave it the vital boost that it needed to grow. Teaming up with charities, small businesses and individuals who are making sustainability and ethics cool and classy, the rewards on offer from Snact were difficult for their audience to pass up. Pants to Poverty, Ceridwen Buckman (author of Street Food: Urban Foraging and World Food), Rubies in the Rubble and roaming restaurant Mazi Mas, amongst others, all contributed to the success of the campaign. Charities and Universities are also jumping on the crowd-wagon, with Plymouth university partnering Crowdfunder to offer bespoke crowdfunding education for students, alumni and faculties alike. Plymouth University pro vice-chancellor Professor Julian Beer said: “Our relationship with Crowdfunder will see continued leading edge entrepreneurial support for the University and its partners, as well as unrivalled opportunities for our students to undertake bespoke placements with a sector leading digital high-growth business. We are proud to be a founding partner and excited by the possibilities of what we can together make possible for our staff, students and communities.” Meanwhile, Hearing Dogs for Deaf People launched a campaign earlier in 2014 to fund a ‘pup-mobile’ and focused its efforts on an incredible social-media campaign to garner support from more than 300 supporters – who can resist a photo of a cute puppy and a charitable cause? Crowdfunding is one of the fastestgrowing forms of collaborative finance, with a growth of 382 per cent year on year (source: Nesta. 2014) in the UK last year. There has never been a better time to make your dreams a reality. Jessica Ratty is Crowdfunder’s brand communications manager, crowdfunder.co.uk

THE CITY MAGAZINE | November 2014

Crowdfunding Social Physics & Honest Signalling – Why Social Trading works

Crowdfunding is opening the financial markets to everyone and enabling a true democratisation of the financial world Words: Yoni Assia, CEO and founder of eToro

Yoni Assia, CEO and founder of eToro

THE CITY MAGAZINE | November 2014

t MIT, the Massachusetts Institute of Technology, Professor Sandy Pentland and Dr. Yaniv Altshuler, creators of the new Social Physics science, recently published a line of academic papers investigating the ways in which networked intelligence is superior to that of the individual. The basis of Pentland and Altshuler’s study was that the abundance of ‘big data’ in society puts us in an unprecedented position whereby we can improve knowledge, interact with each other and spread ideas. A significant part of the MIT team’s research had relied on a tight collaboration with eToro, which provided its unique dataset. The company was founded in 2007, three years after Facebook, and is the first and largest

social investment network, offering the most globalised and diverse pool of social traders to research. The eToro platform allows individual traders to observe and copy one another’s trades, performance and portfolios. All information is transparent and traders can trade in isolation or copy other traders. The measurement and results of their interaction is plain to see and easy to understand. The data provided to the MIT team contained more than 10 million transactions performed by nearly two million users. In the processing of that data within a ring-fenced social network, clear patterns of behaviour emerged. The MIT team found that traders who were isolated or over-connected with each other performed less profitably than those

| BUSINESS & WEALTH |

CITY BRIEFING Tough Love who struck a balance. The former were deprived of information. The latter became stuck in what he called an ‘echo chamber’ of reverberating ideas. But by using subtle incentives to motivate the loners to interact, and the social butterflies to reduce their information intake, Pentland and Altshuler were able to double the profitability of the social traders group, using the laws of Social Physics in order to guide or moderate the flow of social influence across the network (the eToro platform that enables ‘social trading’ being a key component to allow for such moderation). This sort of scientific analysis points to how individual traders can beat institutions, whether they be wealth managers they sign up to, or the institutional traders who move markets from behind closed doors. Social interaction in a globalised, interconnected world has become a dynamic process that has advanced the organisation of data into the knowledge that creates unprecedented wisdom with which to trade successfully. In our ring-fenced social investment network, we can see these subtle patterns in how customers interact with one another. We see a subconscious social language that is less of a ‘back channel’ and more of a parallel language. Social Physics is a proven science. It is a window into our intentions and highlights how network intelligence really does make for better outcomes. A fundamental part of that intelligence gathering is the need for the individual to have access to a broad cross-section of diverse strategies. Central to good decision-making is learning from the successes and failures of others – frequently and in a range of situations. The network intelligence fails when people listen only to the narrowest range of sources, instead of using the information of the widest demographic, national, professional and trading spectrum on which to base their own decisions. Finance is an industry that is based

entirely on information. He who has the most information can secure the fastest, and better, results. Social networking is the 21st century’s method of transferring and creating information in a much faster, more accessible and more efficient way. Never before have people had so much access to information about markets upon which to base their decisions, and never before have they had the technology with which to communicate directly with each another. What we are seeing is a revolutionary shift in the way that information is moving from within the walls of the big financial institutions, which always had the ‘information edge’ over their peers, simply because they had more access to it than anybody else, to the social world and specifically to social trading networks in which every user has access to the sentiments and decisions of his or her peers. As Pentland and Altshuler put it: “The MIT study demonstrates how an efficient collaborative trading community can be formed by carefully balancing the complex mixture of ‘trendsetters’ and ‘bellwethers’ who govern the behaviour of the crowd”. While the MIT research informs academic opinion, social interaction is informing real-time trading decisions. Every day, 3.5 million members of the eToro community are learning off each other in a completely transparent, organised environment that brings to life in miniature the benefits that the wider peer-to-peer and collaborative economy can deliver. Social networks have put a layer of information into the markets that was never there before. They enable the user to overtake the analyst and the retail trader to outguess the institution. They are vibrant living organisms whose opinions shift all the time, and as such, they offer an opportunity like never before for those who want a part in the world of investments.

Mark Carney thinks bank chiefs should man up and take more responsibility. The Bank of England governor has brushed off concerns of bankers who are quitting over plans that could see senior executives sent to jail. “If you don’t think you can do it, you shouldn’t be on the board,” he said.

Cyber-security is the next hot area in which to work, it seems. JPMorgan CEO Jamie Dimon has said that the company will be doubling its $250k cyber-security spend over the next five years. It came days after the company reported an attack by hackers, which exposed contact information of 76 million households and seven million small businesses.

A subtle reminder of the ever popular Movember, Canary Wharf Group has gone and mowed a large moustache into the grass at Canada Square Park.

THE CITY MAGAZINE | November 2014

Crowdfunding

Connecting Start-ups with Early Adopters

How crowdfunding joined forces with the Internet of Things to tempt capital into hardware Words: Patrick Hussey, founder of Crowdrooster and CCO of Unbits, @PatrickRiot

THE CITY MAGAZINE | November 2014

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n Gun, Germs and Steel, Jared Diamond’s famed tome on the history of resources, technology and politics, you find an interesting notion. The transmission of both goods and ideas, it turns out, comes down to landscape. Eurasia’s economy and technology blossomed early not because of inherent superiority but blind, topographical luck. Look at the map. You can draw nice, walkable lines from Paris to Moscow, from Moscow to Beijing. It wasn’t easy but there were ways through the mountains, no oceans to cross and breach-able weather. Brave souls with a taste for business gritted their teeth and trade caravans were set up, those economic chains on which wealth and ideas were dragged across continents. Step by step, of course, trade conquered the physical environment. Ships and steam, jets and wires made it all easy and if this wasn’t enough the internet came along and suddenly we had a full blown economic rapture on our hands. We had created a shop with infinite doors, a way to do business that seemed to completely evade the physical. It doesn’t, of course, but it gets close, and the sheer convenience of the post-physical economy allowed for the extraordinary rise of software as a service. For decades now, software has been hogging investors because, if you like, it was the Eurasia of tech. The breadcrumbs were all laid out; all you had to do was follow them. After all, what do you need to create a software company? A few desks, some overcaffeinated coders and a Wi-Fi connection. Venture capital loved the simplicity and herded coders into accelerators, pens from which the pick of the litter could be identified and guided with minimal fuss to scale. Actual objects, things for people to own, were a drag. People already had them, the margins were tiny and then there were all those boring, atomic issues like distance and transportation, the dull inconvenience of weight. Software became a sort of zero heaven for investors. The world was crying out for the ultimate non-physical good, delivered instantaneously by the web. Despite the diminishing returns, investors and VCs

refused to look back to the awkward, conquered realm of shifting units. Two transformative forces though have been loosening software’s hold on investors The first is the extraordinary confluence of technology that has been dubbed the ‘Internet of Things’ (IOT). To cut a long story short, engineers realised that it was not just phones and tablets that could benefit from being connected to the web but...well….everything. The magic of code began slithering out of computers and into possessions. Cups, tables, houses, cars, clothes...all those everyday objects people owned could suddenly be suffused by sensors and given the quasi-intelligence of computation. Old things, in other words, could be reinvented and sold all over again. There were other developments too like rapid prototyping, shrinking chip size, falling prices and access to mass manufacture. All these allied with the massive commercial potential of the IOT began to make hardware more tempting. Despite this, however, investors still preferred the safe bet of software. After all, the internet, 3D printing and yes even the IOT, are technologies with 20 years under their belts. No one jumped and clearly something else was required to catalyse the recent and biggest explosion in hardware start-ups the world has ever seen. That last stick of dynamite, the event that really blasted up a storm of attention, was crowdfunding. When IndieGoGo

and then Kickstarter came along, hardware start-ups got the one thing they desperately needed: proof of market. It was projects on Kickstarter that really proved the public’s appetite for new hardware. The first million dollar project was the Elevation Dock, an iPhone charger. After this, the floodgates opened and the re-invented objects kept coming. Most seminal of all was the huge total raised for Pebble, the smartwatch. Apple believed there was no market for watches but suddenly they had ten million reasons proving them wrong and even their mighty path was altered. Crowdfunding proved that the public was not only ready but hungry for the new connected hardware. All of that hardware coming out of Kickstarter, of course, needs a place to set up home, somewhere to keep taking those vital pre-orders. That’s where my start-up Unbits.com comes in. Our marketplace allows consumers to discover, buy and review smart gadgets. For the hardware start-ups behind the products, we fill the gap between crowdfunding and distribution, helping start-ups grow from Kickstarter phenomenon to fully scaled e-commerce. We even help them with connections to manufacture and retail. We are part of that long chain of innovations that first broke through Kicktarter. Now, with Unbits, we’ve formed a complete caravan to market. It is now only a matter of time before VCs realise the opportunity and set sail for hardware’s new horizons. In fact, the smart ones already have.

THE CITY MAGAZINE | November 2014

Crowdfunding

Marketplace lending and the property market Peer-to-peer lending is helping unleash the potential of small developers to solve the house building crisis Words: Luke Jooste , head of real estate finance at Funding Circle

ouse building will certainly be one of the central issues of next yearâ&#x20AC;&#x2122;s General Election. Just 115,000 homes are built by the private sector each year, yet Britain needs 260,000 homes to be built annually over the next decade to meet demand. It is a striking shortfall which threatens the economic recovery. The situation is severe in some parts of the country. Just look at the East Midlands, where house building is barely a third of the level experienced in the mid-2000s when it was at its peak. To my mind, there are three central issues that need to be addressed if we are to relight the fires of the house building industry in this country. The first is more public sector house building, which is something that all the major parties have addressed to some extent. Ed Miliband has pledged to build at least 200,000 new homes a year by 2025, while the Conservatives promise 100,000 new discounted homes for firsttime buyers. The second is planning. The system is too complicated, too inconsistent, and too expensive. It needs to change in order for the supply of new houses to catch up with demand. But there is a third point that has gone largely unaddressed; a lack of finance for small developers, who are the lifeblood of a healthy house building market. In 1988, small developers accounted for just over two-thirds of house building, but that has plummeted to just over a quarter in 2013. The financial crisis is largely responsible for that. It gutted the small developer market, which is yet to really recover, primarily because it is starved of finance. Small developers are small businesses too, and just as with small business lending, traditional lenders simply do not have the capacity and capability to increase the amount they lend. Their balance sheets are heavy with bad debts from the financial crisis,

THE CITY MAGAZINE | November 2014

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CITY BRIEFING

The financial crisis is largely responsible for gutting the small developer market, which is yet to recover, primarily because it is starved of finance they have well-documented legacy IT issues, and as balance sheet lenders, they are quite rightly duty-bound to meet tough capital requirements. That is why small developers are increasingly choosing online marketplaces to access the finance they need. Marketplaces have systemic advantages over traditional lenders, because they allow frictionless lending between investors and borrowers. They are more transparent, more efficient, and can deliver the same rigor of credit assessment as traditional lenders, only faster, thanks to systems built from scratch. At Funding Circle, our technology has helped investors to lend over £16.5 million to small developers across the country. This process sidesteps the high street banks with borrowers receiving finance within weeks compared to up to three months for a traditional bank loan. Since launching our property product line in April, we have seen ever increasing demand from small developers and have a healthy pipeline for the next 24 months. We are also helping more property investors get fast and fair access to finance for their projects, in addition to assisting the many small businesses that currently rent their premises, but who want to buy or expand. Once borrowers pass the credit assessment process, they are given a risk band between A+ and C-, and a fixed interest rate to ensure certainty of cost. The loan is then listed on the marketplace and investors begin to bid to lend. Each

loan is made up of small amounts from lots of different investors. Typically loans are funded within a few days and borrowers access the funds within weeks. To be eligible, borrowers need to have been trading for two years or have a two year track record. Demand for a new approach to finance from small businesses, both within property and across every other sector, continues to grow exponentially at Funding Circle. To date, investors have lent nearly £400 million to 6,000 borrowers across the country – £200 million of which has been lent in 2014 alone. Marketplace lending will only accelerate further in the next decade. These types of finance providers are now firmly established in the financial mainstream, and can not only help to unleash the potential of small developers to play their part in solving the house building crisis, but add much needed diversity to the lending market.

Call the Pied Piper; UBS’ Liverpool Street offices are overrun with mice. The rampant rodents have caused shrieks mid conference call and resided in desks, nibbling on one MD’s nuts. Alas, there is hope on the horizon as the Swiss bank is set to move into 5 Broadgate development, which they hope will be 700,000 square foot of mouse free space.

Tyrel Oates, the Oregonbased Wells Fargo employee who emailed his CEO asking for a $10,000 raise and cc’d in 200,000 employees, isn’t worried about losing his job. Spending two weeks adding co-workers’ names into the email during his lunch breaks, Oates has received only two negative replies.

London house prices could be set to drop in three months’ time, according to a recent RICS report. As house price momentum has slowed to the slowest rate for 16 months, a greater balance between supply and demand could remove upward pressure on prices, says the report.

THE CITY MAGAZINE | November 2014

Crowdfunding The evolution of

equity

How crowdfunding has come of age as an asset class Words: Jeff Lynn, CEO and co-founder of Seedrs

any of the world’s most iconic internet-based innovations have been born in the United States, but equity crowdfunding is a clear and notable exception. Europe (including the UK) leads by a long way, and we are holding ground if not accelerating away from our friends across the pond. Europe’s impressive lead in equity crowdfunding is as important as it is intriguing and interesting. Part of this dynamic is about the underlying asset class: start-up and early-stage businesses. Europe has enjoyed a significant surge in entrepreneurship over the last few years, and it is growing quickly. More and more talented people are choosing to eschew careers at large companies in exchange for the opportunity to create their own value, and more investors are seeing opportunities for capital appreciation. But Europe’s head start has also been the regulatory context, which has been significantly more favourable to innovative methods of finance than the U.S. system. This has been especially true in the UK – where the Financial Conduct Authority has proven exceptionally forward-thinking in adapting regulatory structures that were not originally designed with equity crowdfunding in mind – but we are increasingly seeing other European nations embrace the concept with enthusiasm. Compare this to the United States, where the crowdfunding provisions of the JOBS Act have still not been implemented two and a half years after President Obama signed it into law – and even when they are implemented, experts widely think that they are so flawed that, unless amended, they will prevent equity crowdfunding from emerging as a force at all. Finally, the dynamics of investment capital available to startups in Europe are very different from the USA. Where the U.S. has a notable concentration of experienced angel investors and high net worth individuals, Europe does not. But Europe does enjoy the advantage of having a larger percentage of the population that is professional, economically successful and has reasonable wealth to invest in growth. This is where equity crowdfunding has stepped in to provide a new bridge between these investors and entrepreneurs looking for investment in their businesses. Collectively, the mass affluent has ample

THE CITY MAGAZINE | November 2014

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CITY BRIEFING Sod’s law

Digitising the investment process has meant that equity crowdfunding platforms can offer very low minimum investment levels and an easier route to a diversified portfolio

capital to support a thriving start-up community across Europe, but until the arrival of equity crowdfunding, these people could not invest sensibly in start-ups. Digitising the investment process has meant that equity crowdfunding platforms can offer very low minimum investment levels – often as low as £10 or €10 per investment – and an easier route to the diversified portfolio necessary to reduce the risk inherent in startups as an asset class. As the industry has matured, so, too, have the different product offerings within equity crowdfunding, offering investors even more investment options. Convertibles are very popular among start-ups and investors in Silicon Valley. They offer a way to raise and invest money now, while deferring the need to place a value on the company until some time in the future. This can be particularly useful when a start-up is looking to raise large venture capital funding in the near future, but doesn’t want a valuation placed on their company now which may affect those negotiations. Seedrs launched the first equity crowd convertible earlier this summer, offering investors in London ad-tech business Future Ad Labs the opportunity to invest now and receive a discount to investors in the next round. In September, the industry evolved even further as award-winning English winemaker and craft brewer Chapel Down (listed on ISDX) became the first publicly-traded company to raise finance through equity crowdfunding. They launched a £1.6m crowdfunding campaign, and in less than three weeks, they overfunded to almost £4m, from around 1,500 investors – which makes this the largest equity crowdfunding campaign ever. This is just the first of many such opportunities. There’s no reason why investors couldn’t equity crowdfund the next big UK IPO. The end result of all of this is the most dynamic and thriving equity crowdfunding ecosystem anywhere in the world. We have democratised investment in businesses to the mutual benefit of investors and entrepreneurs across Europe and unlocked a force for economic growth and financial democracy that is the envy of the rest of the world.

A former USB banker who pled guilty to conspiring to defraud the IRS in 2010, has skirted a jail sentence by sharing insights with American authorities about Swiss offshore banking services. Switzerland has now found the illfated banker guilty of breaching private data laws. Both countries are currently making him serve probation.

Uber, the smartphone taxi app, is under fire again, this time from TfL. London’s taxi and minicab regulator referred the company to HMRS over tax complaints. A spokesperson for Uber has said the company “pays taxes in all jurisdictions”. The news follows mass protests in the summer by London’s black cab drivers.

British banks face yet another legal punch-up with the EBA over bonus cap rules. UK authorities have backed the banks’ role-based allowances, designed to top up bankers’ fixed pay to compensate for the EU bonus cap. Brussels now claims the allowances are far too flexible and would count as variable rather than fixed pay.

THE CITY MAGAZINE | November 2014

Crowdfunding Crowdfunding the fight

against poverty When crowdfunding is combined with microfinance, amazing things can happen. Jo Broughton of Lendwithcare, the peer-to-peer microfinancing platform devised by aid and development charity CARE International, says that in the fight against poverty this is a winning formula

endwithcare began in 2010, offering individuals in the UK the chance to club together to finance the businesses, the ambitions and the futures of individual entrepreneurs in some of the poorest countries in the world. As the only such platform backed by an established aid and development agency – with the sole aim of alleviating poverty – we knew we were onto something special.

ABOVE FROM LEFT TO RIGHT Lendwithcare entrepreneur Marcelline, a food stall holder from Benin; Carlito Curacha; Yaya Omorou

THE CITY MAGAZINE | November 2014

Crowdfunding a family’s future Through Lendwithcare.org, we offer UK crowdfunders the opportunity to choose an individual entrepreneur from a poor community and lend them anything from £15. The UK lender is teamed up with others who wish to support the same person and together they fund the requested loan amount, allowing the entrepreneur to start or expand their small business. And in these communities, that’s life changing: it means they can feed their family and send their children to school.

stringent ethical criteria – they must offer vital services aside from basic credit, including micro insurance, financial literacy and business training. They must charge fair and reasonable interest rates and they must help and encourage those they serve to save money as well as, or instead of, borrowing. They must support only businesses that do no harm to the community or environment, favouring those that actively do good. Four years on, we’ve just reached the landmark figure of £5 million, lent by over 18,000 kind-hearted UK investors to 13,716 entrepreneurs. These investments have created 3,479 jobs in poor communities and provided 64,602 family members with better food, the chance of an education and a more secure future. The numbers speak for themselves, but the individual stories behind the numbers are what really tell us we have created something powerful, sustainable and life-changing.

Beyond basic credit Lendwithcare began in Togo and Benin, and we’ve since expanded to nine countries across three continents. We partner with microfinance institutions that meet our

With credit comes opportunity Yaya from Togo, a tailor and father of six, was one of the very first entrepreneurs to receive funding from Lendwithcare back in 2010. His loan was for £222.86, which

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CITY BRIEFING Rate Fixing

was funded by eight people. With his first Lendwithcare loan, Yaya bought a second sewing machine and some cloth, allowing him to take on an apprentice – increasing his income and creating local employment. Since then, Yaya has continued to expand his business and has been able to buy a small plot of land. With subsequent loans, he has begun to build his family home. Yaya says: “There has been a big difference between before the loans and now. I am able to send four of my children to school and hope to send the other two when they are old enough. We are able to eat three meals a day and my business has ensured the health of my family. Recently one of my children was sick but I was able to afford to pay the hospital fees. This is something I would not have been able to do before.” Carlito Curacha, 64, is a farmer from the Philippines. He used his first Lendwithcare loan of 4,000 pesos (£55) to buy fertiliser, increasing his eggplant harvest from an average of 20 kilos to 110 kilos per week. In the last three years, Carlito has been able to employ four labourers from the local neighbourhood. Carlito says: “I have learned so many farming skills. My increased harvest has meant I need to hire my neighbours to help, and it has given me the means to pay them. With my farming I hope to improve life for my children, and to send them all to college.” CARE began Lendwithcare off the back of 40 years of experience in microfinance. We could see that where alleviating poverty can be combined with business, the potential for expansion is enormous – and it’s sustainable. The lenders get their money back, the microfinance institutions can expand their outreach and the individual entrepreneurs can earn a living. In many cases their lives are transformed. This Christmas, Lendwithcare is offering gift vouchers so your loved ones can give the gift of opportunity. Visit lendwithcare. org to change a life with a loan.

Two years on from the first fine for Libor fiddling, regulators are still puzzled over how to stop traders manipulating Libor, forex and other benchmarks. “All banks are struggling on how they stamp out this activity,” FCA chief Martin Wheatley told the Treasury Select Committee. Despite a mass of new rules and standards being enacted on the retail banking industry, the FCA has yet to finalise a new setup of benchmark regulation.

Wearable tech…

The potential for expansion is enormous – and it’s sustainable. The lenders get their money back, the microfinance institutions can expand their outreach and the individual entrepreneurs can earn a living

…could soon be coming to an office near you. Credit Suisse has said it believes the wearables market will be worth around £18.6bn by 2018. Elsewhere, Fidelity Investments has just launched a market monitoring app for Google Glass, allowing traders to keep an eye on price movements while away from their trading desks.

The City of London has been named ‘Borough of the Year’ at this year’s London in Bloom awards. Gardeners and volunteers helped the Square Mile secure eight gold awards and one silver gilt, winning three overall categories. It is the best blooming result the borough has received since first entering the nationwide awards in 1967.

THE CITY MAGAZINE | November 2014

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INVESTMENTS

How would you invest a spare £1k, £5k and £10k? Nick Hungerford

was recently asked an interesting question: what would I invest a spare £1,000, £5,000 or £10,000 in today? It got me thinking that, assuming you’ve got plenty of money left to cover your usual savings and expenses, this could be a good opportunity to have a little bit of fun with your money.

info@nutmeg.com 020 7806 6158

Nick Hungerford is CEO of Nutmeg, the online investment management company that builds and manages portfolios tailored to each customer for a single low fee

Before you rush headlong into scouting out the next Apple or Google, there are safer ways to achieve steady growth

how to Invest £1,000

investing £5,000

If you’ve got a grand going spare – why not invest in something you really believe in? Crowdfunding has really taken off over the last few years. A popular choice for entrepreneurs raising funds for product development or research, or for funding social projects, crowdfunding gives you the chance to be involved in something from inception and participating in projects will offer experiences, free products or a share in their venture as your reward. Kickstarter.com is the name that’s now synonymous with crowdfunding – the site only promotes creative projects and has some really exciting ventures looking for a cash injection. Want to fund the next big piece of wearable tech? Or maybe get behind the world’s first Bluetooth padlock? £1,000 could get a new project off the ground and earn you some great perks.

Mantiques are antiques or curiosities that generally interest men. You know the kind of thing – ancient maps, vintage aeroplane propellers, Victorian photography equipment; we boys don’t really know why, but we want it. A trend that started in the USA and is rapidly gaining favour with the British gent, specialist mantiques sales are popping up all over the country. Ok, so your partner might not understand it but your mates will love it – and there’s a really strong market out there so if you choose wisely, you could make yourself a decent profit.

THE CITY MAGAZINE | November 2014

With investment, your capital is at risk. The price and value of investments mentioned and income arising from them may fluctuate and you may get back less than you invest

investing £10,000 OK, so now you’ve got a spare 10 grand. We all know that now’s the time to get a bit more serious about growing that money, and getting started with investing in

the stock market. Before you rush headlong into scouting out the next Apple or Google, there are safer ways to achieve steady growth. Here at Nutmeg, we use exchangetraded funds (ETFs) which track the performance of given indices or asset types. There are many advantages of ETFs over other types of fund, but in the main they are cheaper, you can trade as long as the markets are open, rather than at a specific time and, perhaps most importantly, each ETF can contain hundreds of different individual stocks, which diversify your portfolio and spread your risk. Do your research and find a company with low fees and one that gives you full visibility of what happens to your money. My biggest tip here would be to give it time, think about investing for at least 10 years and ideally longer, but find a service that allows you to access your money quickly if you need it.

| BUSINESS & WEALTH |

Macroeconomics

Why decoupling is likely to become a more important theme Richard Jeffrey

ne of the features of the recession was its universality within the arena of developed economies. No one escaped and all were hard hit. In the first instance, policy makers responded in similar fashion to the crisis, and there was also a large degree of homogeneity in the reaction of world equity and bond markets. As the world moved out of resuscitation and into recovery, there began to be more obvious nuances in the performance of the major economies and also in the policy reactions. Initially, it was activity in the US and Germany that recovered most quickly, and these were the first of the major economies to top prerecession peak levels of output. Other economies took considerably longer to reach this landmark, with the UK not arriving until the second quarter of this year (although this growth profile may change following the upcoming changes to GDP being introduced by the Office for National Statistics). Inevitably, the greater the distance from the unifying impact of the economic and financial crisis, the more we have seen economic performance diverge. During 2014, it has been the UK economy that has most obviously gained momentum, while some of the bigger economies in the Eurozone have clearly faltered. The US also had a tough start to the year, partly due to an abnormally cold winter and although activity rebounded in the second quarter, growth for the year will not be as strong as previously anticipated. Meanwhile, hopes that Japan was about to emerge from two lost decades appear to have been put on hold, if not dashed. With growth trends beginning to show more obvious divergence, policy makers have also come under differing pressures. At the two ends of the spectrum, summer meetings of the European Central Bank (ECB) brought further easing in monetary policy, while in the UK minutes of the Monetary Policy Committee (MPC) revealed votes in favour of a rate increase by two of the nine members. The MPCâ&#x20AC;&#x2122;s dilemma is not dissimilar to that being faced

info@cazenovecapital.com

by the US Federal Reserve. With momentum in economic activity improving, should the first steps be taken towards normalising monetary policy, albeit if there is nothing particularly alarming being revealed in economic data releases? I believe that now is the right time to start raising rates. However, it is evident that the MPC and the Fed still regard the risk of raising rates too early as being greater than raising too late. In large part, we can probably regard this mindset as being a reaction to the total failure of these two (and other) central banks to anticipate and understand the recession, both in terms of its onset and its underlying causes. As a result, both bodies have become almost entirely reactive in their behaviour, at a point in the cycle when more forward thinking is required. While decoupling is likely to become a more important theme when analysing the performance of Western economies, the situation in financial markets is more complex. In government bond markets, the direction of change in yields has been similar during most of the past seven years. However,

Richard Jeffrey is chief investment officer at Cazenove Capital Management

as the problems in the Eurozone economy have intensified, eventually prompting the ECB to take more overt action, the level of yields has begun to diverge. While 10-year yields in the UK and the US remain very similar, a significant gap has opened between yields in these two markets and those in the German market. While none of these markets offer significant value to longerterm investors, the 1 per cent yield available on German bunds over 10 years would seem excessively low, even in the context of the recent deterioration in growth prospects. Within equity markets, there has been greater decoupling, with the US clearly posting better returns through the recovery period than those from most other bourses. Significantly, it has been the German market that has remained closest in touch with the US, probably reflecting the German economyâ&#x20AC;&#x2122;s initially swift rebound. On the other hand, the UK market has significantly underperformed its US counterpart. To an extent, this reflects the differing structures of the two markets. The FTSE 250, which resembles better the orientation of the UK economy, has performed almost in line with the US market.

THE CITY MAGAZINE | November 2014

| BUSINESS & WEALTH |

Equities

Impatience and trading do not good bedfellows make Lex van Dam

lex@lexvandam.com

n previous columns, I’ve discussed the first four steps of my 5-Step-Trading® process. What I want to talk about now is the fifth and final step, which is risk management. The reason why most new traders go wrong is by taking too much risk. There is a saying that there are old traders and bold traders, but no old bold traders. This means that if you want to survive and trade in the long run, you need to control your risk. In risk management, the concepts of margin and leverage enter the frame. Brokers often allow their clients to trade larger positions than the money they put on deposit with them. For example, someone who deposits £1,000 with a broker to buy gold, can easily get 10 times leverage, which means they can buy £10,000 worth of gold. If gold moves up 10 per cent, their gold holdings will be worth £11,000, and after liquidating the position and returning the deposit, they will have made £1,000 and their deposit will have doubled. A return of 100 per cent is obviously very good indeed. However, if gold instead of going up 10 per cent, were to go down 10 per cent, the value of the gold holdings would be £1,000 less and the whole deposit would be wiped out. In practice, a lot of novice traders use a lot more leverage, sometimes as much as 100 times. I would not recommend this. Even with 50 times leverage, a two per cent move against you can wipe you out. So, unless you really want to gamble, don’t use more than 10 times leverage as a max. In fact, gold can easily move 10 per cent in a month, and 10 times leverage would finish you off. So, five times leverage might be even more appropriate. And in any case, never speculate with money you cannot afford to lose. In my course I mention 10 rules of risk management. Some are quite straightforward – for example, if you have lost 10 per cent of your capital you should stop trading for a month.

THE CITY MAGAZINE | November 2014

Lex van Dam is a hedge fund manager and financial educator, specialising in trading equities, currencies and financial derivatives

This means that you will have plenty of time to recuperate and analyse where you went wrong. It is a very common mistake to try and make up for losses as soon as possible, but unfortunately rushing and trading do not go together. Another rule is to make sure you trade at the right price – this seems obvious, but very few people have the patience to wait and let the price come to them instead of just rushing in and paying whatever price they see on the screen. It is much better risk management to wait for the market to come to you and obtain a better entry. When that happens you are much more likely to be able to hold on just that little bit longer, and a little more likely to get to the ideal 3 to 1 ratio for potential return versus risk. Regularly taking the time to analyse your trades and what was good and what was bad about them is going to be crucial to your success as a trader. You need the ability to reflect on your own performance

and learn from mistakes. The process of learning never stops. I myself still make many mistakes, so it is never boring. Another tip for controlling your risk is to run your portfolio at such a level that you can still sleep at night. I have had many sleepless nights in my career and normally it meant that my trading had got slightly out of control. Sometimes my positions were too big or the losses too high. So get your portfolio down to a level where you can sleep again. At the end of the day there is one part of risk management that cannot be under estimated, and that is having your own original ideas as per the 5-Step-Trading methodology. Because if you trade on your own original ideas, you know why you actually have a position in a particular stock, currency or commodity. This means that you will know when the original reasons for your trade no longer hold, and that it is time to get out, possibly long before the price has actually moved against you.

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Design ﬁrst. “MyWorld” by Philippe Starck and Cassina. CASSINA SHOWROOM 238-242 Brompton Road London, Knightsbridge SW3 2BB Tel: 020 7584 0000 Info.uk@cassina.com

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| FEATURE |

Kate Moss at a Lady Gaga gig, 2013

Francesca Von Thyssen and Jerry Hall, Valentino Party, 1987 Festoon Dinning Room

Elizabeth Taylor and Dennis Stein, 1985

Paloma Faith

AFTER DARK AT ANNABEL’S This month, Sir Ridley Scott takes us behind the scenes of Mayfair’s most notorious nightclub, Annabel’s. In A String of Naked Lightbulbs, a remarkable docu-film, Scott and his team, including director Greg Fay, celebrate an eclectic history while gaining unprecedented access to the archives and colourful history of our country’s first members-only nightclub. More than 50 years since opening its doors, Annabel’s boasts a beyond impressive celebrity following, and remains the only club The Queen has ever attended. Musician Bryan Ferry explains its continued success best: “I think when something is put together with that kind of affection it kind of lasts forever.” To find out more about the private member screenings, call Annabel’s on 020 7629 1096. Diana Ross and Arne Naess, 1991

annabels.co.uk

Prince and Princess Michael of Kent, Annabel’s 40th Birthday

Her Majesty the Queen

Lady Annabel Goldsmith, 1988

Jemima Khan and Kate Moss

Jack Nicholson, 1988

Christina Estrada Juffali, David Furnish, Elizabeth Hurley and Patrick Cox, Chopard Fashion Party, 2007

Joan Rivers, 2011

Lady Gaga, 2013

THE CITY MAGAZINE | November 2014

Words: JOSEPHINE O’DONOGHUE

Sparring Partners UBER

Created Uber was launched as ‘UberCab’ by Garrett Camp and Travis Kalanick in San Francisco in 2010. Brief A mobile phone app that allows users to see where the closest taxi (including mini-cabs and private taxis) is to them and book it after agreeing a set fare, which is paid by credit card. No cash or tips change hands. Features Real-time route and ETA on your phone, fare quote before request, split fare and share ETA via Uber text. Feedback “Taxi drivers have faced such threats before [but] …few of those, though, offer the quality of service, the lower prices or the rapid growth that Uber has. And none of them have secured the affection of their drivers as quickly either.” (The Telegraph). Criticisms Uber journeys provide good value, but when demand rises, prices can surge. Fares during the busiest times can be several times normal levels and, at certain times, hefty minimum fares apply. Backed by In August it was reported that David Drummond, Google’s chief legal officer and senior VP of corporate development, and TPG Capital co-founder David Bonderman agreed to join the Uber board.

Battle of the

BLACK

CABS 54

THE CITY MAGAZINE | November 2014

You may remember that in June, traffic slowed more than usual in the capital as thousands of taxi drivers protested at the arrival of Uber in London, with a painfully slow crawl around Trafalgar Square. Perhaps not the brightest idea, as Uber enjoyed huge media attention that day and gained thousands of new users. Nevertheless, the point that London cab drivers were trying to make was that they believe Uber’s smartphone app can undercut black cabs by 50 per cent and many drivers believe the app breaks taxi licensing laws by imitating the taxi meter. According to the Licensed Taxi Drivers Association (LTDA),

cabbies want Uber gone from the capital. Interestingly, however, Jo Bertram (Uber general manager in the UK and Ireland) argues that “several hundred” cabbies have since joined up to use Uber since it opened its service to them on the day of the protest. She declared the LTDA was “stuck in the dark ages” and “intent on holding London to ransom” with all the flair and drama one might expect from a company that’s already been accused of bending the guidelines. “We love black taxis,” she said. “We want them to remain a part of London, and that’s why we opened up the app to include them.

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The black ‘Hackney carriage’ taxi has long been a traditional icon of London – but since the arrival of clever apps Uber and Maaxi, hailing a cab is a very different experience. Will new technology work with or drive out London’s cabbies – and could London regret the withdrawal of a City institution?

MAAXI Created Creators Nath Rothschild and Gabi Campos launched Maaxi in autumn 2014. Brief A mobile phone app, that allows users to share journeys in black cabs in London. Features The system, developed by software developers in a London warehouse, makes tens of millions of calculations per second in a cloud-based data centre and matches the A-to-B ride requests of commuters into joint virtual lanes. The app can also combine with TfL and National Rail real-time timetables for buses and trains. A popular feature is the matching ability for men or women-only rides. Feedback “It will help London and I hope the taxi trade will promote Maaxi among Londoners and ensure that drivers stand behind a company that has created a ‘People’s App’ and, in so doing, stop Uber driving the black cab trade into extinction!” (Ken Livingstone). Illustration by Amy Welch

Criticisms Uber currently lists around 7,000 drivers in London, whereas Maaxi might count around 50 in its ranks. Many black-cab drivers are resisting all ‘apps’. Backed by Ken Livingstone: “I support the principles that stand behind Maaxi, principles that have been developed in light of the revolution that smartphones have brought to our transport industry.”

[Drivers] get a few extra trips here and there and increase their income”. Of course, for those who sit somewhere between admiration for the clever efficiency of Uber and sympathy for the working history and rights of the Hackney carriage cab driver (so, most of London then?) Maaxi slips in as a possible balance. Maaxi claims to help the plight of London taxi drivers by charging no commission or fees on their regular fares alongside the opportunity to increase their trade through shared taxi rides, which could potentially double or triple rates of

taxi business in London. “This app will provide me with door-to-door transport at a fraction of the cost of a minicab, let alone a taxi, and only slightly more expense than travelling by public transport,” argued Ken Livingstone in an open letter to City A.M. Described by the New York Times as a conflict of “consumer choice and convenience versus traditional workers’ rights”, Maaxi creator Nat Rothschild believes he holds the key to a happy compromise. “TfL commissioner Sir Peter Hendy said only last week that we will face riots if London’s old transport network does

not evolve and become cheaper and more efficient,” Rothschild wrote in City A.M. “Maaxi fare-sharing not only makes the taxi ride cheaper for the commuter, close to the price of subsidised public transport, but also pays the driver more than a normal taxi ride would pay.” Watch out, though, because the competition will rise to another height again by the end of the year as fast-paced Uber creators have announced that they also plan to take on the journey-sharing concept. Their version will be launched by Christmas.

THE CITY MAGAZINE | November 2014

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| collection |

WATCHES & JEWELLERY Celebrating the delightful and the divine from the world of fine jewellery and haute horology

SalonQP 2014 SalonQP, the UK’s largest premium watch exhibition, returns to Chelsea’s Saatchi Gallery in November. Now in its sixth year, it has been established as a must-visit event for collectors, enthusiasts and press; more than 50 marques will be in attendance, including TAG Heuer, Zenith, Bremont, Chopard and Jaeger-LeCoultre. This year’s show will also feature Gems of Time, a specially curated exhibition which will celebrate

the heritage, glamour and craftsmanship of high jewellery timepieces. On show will be a unique display of Bulgari Serpenti watches, which Elizabeth Taylor famously wore on the set of Cleopatra in 1962, and the 101 mechanical movement by Jaeger-LeCoultre worn by HM The Queen on her Coronation Day in 1953. SalonQP, 6-8 November, The Saatchi Gallery, salonqp.com

THE CITY MAGAZINE | November 2014

Speed. Courage. Glory.

C70 D-TYPE – LIMITED EDITION Sir William Lyons designed Jaguar’s legendary D-Type Long Nose racing car with one purpose in mind – to win at Le Mans. In 1957 the non-works Ecurie Ecosse team’s resplendent Flag Metal Blue D-Type, driven by Ron Flockhart and Ivor Bueb, completed a stunning hat-trick of victories for the marque. This 500 piece limited edition is a tribute to one of the finest cars and greatest achievements in British motorsport history.

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WATCH NEWS ONE to WATCH

Lee Mould, Area Manager for Fraser Hart One New Change, selects his watch of the month:

Zurich Worldtimer True Blue, £3,850 Nomos Glashütte nomos-glashuette.com

Complication Made Simple

Saluting the Minute Repeater Originally devised as a way of telling the time in the dark, the minute repeater has come to represent all that is romantic in watchmaking. Paying tribute to the hallowed complication, Roger Dubuis recently unveiled the Hommage Minute Repeater Tourbillon Automatic. Thanks to a lack of dial, the watch provides a clear view of the parts in motion when the striking mechanism chimes hours, minutes and quarter hours. A flying tourbillon guarantees optimal inertia, equilibrium and anti-shock protection. Pink gold is the material of choice for the case, lugs, crown, and visible mainplate. Each piece takes 1,241 hours to make. Or put another way, more than seven and a half weeks. First deliveries start in May 2015. Hommage Minute Repeater Tourbillon Automatic, £317,700 Roger Dubuis, rogerdubuis.com

It’s the award-winning German brand that knocks out mechanical wristwatches with in-house movements for less than a grand. While the latest edition of Nomos Glashütte’s Zurich Worldtimer, the True Blue, retails for a little more than that, £3,850 gets you a patented worldtime mechanism that will indicate the time in 24 cities at the click of a button. It also gets you a clean and elegant little number that you’re unlikely to see many of while travelling on the tube. Black Bay, £2,120, Tudor Fraser Hart, One New Change, 020 7236 4560

“Having only been available for just under a month, the Tudor Black Bay in blue has already become one of the most popular watches in store. The dial looks great, and holds the iconic ‘snowflake’ hands on a black gloss background, while the crown retains the classic Tudor Rose”

Boutique Bonanza One of London’s most exclusive neighbourhoods is about to get even more glam. Following the recent opening of Richard Mille’s first UK standalone store on Mount Street, this autumn will see Blancpain launching a flagship boutique at 11 New Bond Street before IWC unveils its first UK premises further down the road at number 138. In the wake of the summer launch of Watches of Switzerland’s Regent Street showroom – the largest watch store in Europe – the openings surely cement London as the watch capital of the continent.

THE CITY MAGAZINE | November 2014

Image courtesy of PHOTOPRESS/ IWC/Peter LINDBERGH

One Fine Day IWC Schaffhausen assembled an all-star cast to descend upon the picture-perfect Portofino in celebration of the launch of its Portofino Midsize collection. Annabel Harrison reports

hey say that a picture paints a thousand words but to me, this shot poses just three questions; who are they, where are they and can I be part of their gang? The first question is by far the easiest one to answer, as I recognise most of the campaign faces immediately; these film stars and models go by the names of Christoph Waltz, Ewan McGregor (pictured), Cate Blanchett, Emily Blunt, Zhou Xun, Karolina Kurkova and Adriana

THE CITY MAGAZINE | November 2014

Lima. They are in Portofino, “a name that resonates with the promise of all that is best about Italy,” declares IWC passionately, somewhere which “has been maintained with breath-taking delicacy; nothing disturbs the aura of timeless grandeur... In places like this, history is written – or photographed”. Waltz enthuses, rather more simply, that Portofino is “one of the most magical places on the planet” and having visited, I can concur. The azure

waters, pastel-pretty houses fringing the harbour and natural charm of this little fishing village have long attracted Hollywood’s most dazzling stars – the standard roll-call of Bogart, Bacall, Burton, Taylor – and this has continued into the 21st century. The final question is rather more difficult for this elite group are “friends of the brand”, the brand in question being IWC Schaffhausen, and they’ve

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come together to be shot by legendary photographer Peter Lindbergh. I’m not going to kid myself – this is an exclusive club and one I’m unlikely to be asked to join – but the photos draw me in nonetheless or, perhaps, for this very reason. What I find most appealing is the graceful androgyny, so elegantly achieved: the shots are black and white, as are the actors’ costumes (black tuxedos and crisp white shirts); nothing detracts from the

subjects. The watches are not forcefully present; McGregor’s is barely visible and in Waltz’s photo and the ensemble picture not a single watch is shown. The mood is relaxed and the actors appear at ease; shirt buttons undone, ties loose. “Being dressed in a tuxedo, wearing these amazing pieces of art while speeding along the Italian Riviera, I wished for nothing more than to stop time and linger just a little longer,” Waltz said happily.

McGregor was similarly moved: “I find myself in one of the most picturesque and trend-setting places on the planet wearing a tux and an elegant Portofino.” Blanchett, the only cast brand-friend who was shot by Lindbergh in 2010, when he worked with IWC for the first time, added that “wearing a tuxedo changes the way one faces the world” and, indeed, it changes the way the world views the tuxedo wearer. IWC’s CEO Georges Kern explains that the new Portofino Midsize models are intended to play with such contrasts and blur boundaries – black and white, masculinity and femininity – and as such the watches aim to have a unisex appeal. Blunt declared that her time with Lindbergh in Portofino was an experience she won’t forget. I ask her what the atmosphere was like on set, quoting Lindbergh’s own words (“only in Portofino does time stand still”) and she declares that it was “magical... With other photographers you can feel micromanaged – told where to place a hand, when a hair is out of place – and it just feels stagnant. Working with Peter was very cinematic, actually, and closer to what we’re used to and more comfortable doing, just walking and talking together. He has this incredible ability to capture moments – that’s the difference between a photograph and a moment – so it was a magical experience, especially in a place like Portofino where they just do life right!” The Portofino, for those who are wondering, is one of IWC’s most wellknown and popular watch families, launched 30 years ago in 1984. It was named after the Italian village by an IWC employee, still with the company today, who often frequented Portofino and suggested to his company, as Kern explains, “the development of a watch line that would embody the region’s fine wines, wonderful cuisine, agreeable climate and timeless elegance”. The Portofino family was chosen for this midsize collection because “the name is more feminine and, compared with other IWC models, the collection is generally more elegant”. To this end, you needn’t think that bigger is better or smaller is weaker. Thus these seven global stars were brought together to be part of the shots that would make up a glamorously relaxed photographic exhibition, Timeless Portofino, that will travel across the world to celebrate the new Midsize collection. Kern stresses that his company is “interested in more than the red carpet and logo wall” and initiatives like this go a long way towards proving that this is true. iwc.com

THE CITY MAGAZINE | November 2014

C E L E B R AT I N G 3 0 Y E A R S

Aurora Inspire romance with this 0.86ct Fancy Intense Australian Argyle Pink Diamond Ring, reflecting the warm, vibrant and fiery hues of its extraordinary and ancient origins. A highly prized, rare and collectable jewel.

To receive the beautiful Calleija brochure, please contact us The Royal Arcade Old Bond Street London london@calleija.com +44 (0)20 7499 8490

The Westin Martin Place Sydney sydney@calleija.com.au +61 (0)2 9233 6661 calleija.com

Marina Mirage Main Beach Gold Coast mirage@calleija.com.au +61 (0)7 5528 3666

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Shooting Star

It’s the last name in the horological alphabet but the first word in precision. This month, supersonic Zenith flies into One New Change

etween 25-27 November, Fraser Hart and Zenith are partnering to bring a pop-up brand experience to the City. Allowing customers to enter the exciting world of Zenith watches, the event will take place outside the jeweller’s One New Change store. The celebrated watchmaking company will showcase its current collection, including latest launches such as the El Primero Synopsis (which houses the legendary El Primero movement), the contemporary Pilot collection and the more classic Captain pieces. An expert Zenith watchmaker will also be on the stand during the event, giving watchmaking demonstrations and allowing customers the opportunity to ask questions and try watch assembly themselves. A pioneer of modern watchmaking, Zenith is a brand peerless in the precision-based accolades it has been awarded. During its 150-year history, the company has won in excess of 2,300 prizes in the field of chronometry, or precision timing, for its pocket-watches, on-board chronometers and wristwatches – more than any other company in the history of watchmaking.

Fraser Hart One New Change Fraser Hart One New Change stocks an array of prestigious watch brands including Zenith, Breitling, TAG Heuer, Gucci, Longines and Hublot, to name but a few. In store you’ll find a selection of certificated diamonds, which have all been independently assessed, and a range of services including re-modelling, bespoke designs, valuations, repairs, reseals and insurance quotations. Fraser Hart’s in-house specialist technician, Ron Nott, is on hand to offer repair advice and perform battery replacements on the premises.

THE CITY MAGAZINE | November 2014

Changing

As Cartier celebrates the 100th anniversary of its legendary panther with a new fine jewellery collection, Olivia Sharpe looks back to find out how a cultural icon was born

THE CITY MAGAZINE | November 2014

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his year marks the centenary of the start of the First World War. While this particular milestone naturally takes precedence above all others, 2014 also signals another anniversary which is of particular significance to the fine jewellery world; the birth of Cartier’s iconic panther motif. At first, it might seem somewhat inappropriate to be celebrating a piece of history that is frivolous in comparison to one of the most devastating events of the 20th century. And yet, it is often the case that during turbulent periods in history, creative genius is spawned. When one considers this, the Cartier panther takes on a whole new meaning, symbolising timeless beauty created in a time of adversity. Therefore, in celebration, Cartier has launched Panthère de Cartier: a collection of 56 fine jewellery pieces which reimagines its famous big cat in a number of different forms, including a yellow gold necklace with black lacquer, onyx, tsavorite, garnets and diamonds; a white gold ring featuring a modern, geometric openwork design and an Op Art tribal bracelet with a pattern of diamonds and onyx spots. While the panther has evolved considerably over the decades, reinvented in countless styles and unconventional materials, its main meaning has remained the same; strong, powerful and majestic, it continues to be an emblem of freedom of expression and artistic creativity. The first Cartier panther was created in 1914 by the house’s designer Charles Jacqueau, appearing on a wristwatch with a round case of polished platinum, paved with rose-cut diamonds and onyx, and featuring a black-and-white spotted motif inspired by the animal’s coat. The abstract design not only heralded the birth of an icon but the beginning of the Art Deco styles to come. However, it is widely considered that it was not until the arrival of Cartier’s famed jewellery director, Jeanne Toussaint, that the panther was truly brought to life. Toussaint was born in Belgium in 1887 but moved to Paris at the age of 13 to live with her sister and there became immersed in Parisian high society, taking inspiration from the avant-garde world of artists and

This year, Cartier has reinvented its famous panther motif in a number of different forms

LEFT Panthère de Cartier white gold bracelet with onyx, emeralds & diamonds, Tania & Vincent © Cartier; Banglebracelet with two heads, Paris 1991, Cartier Archives © Cartier From TOP Jeanne Toussaint, Cartier Archives © Cartier; 1914 wristwatch designed by Charles Jacqueau, N. Welsh, Cartier Collection © Cartier; Panthère de Cartier white gold bracelet with onyx, emeralds & diamonds, and matching ring with black lacquer, Tania & Vincent © Cartier; platinum necklace with cultured pearls, onyx, emeralds & diamonds, Tania & Vincent © Cartier; Panther product close-up; Panther sketches, Isabelle Rey © Cartier

designers during the height of the Belle Époque. Like her contemporary and close friend Coco Chanel, Toussaint was imbued with natural artistic talent and impeccable taste and this was immediately picked up on by Louis Cartier, grandson of the eponymous house’s founder, who met Toussaint just before the start of WW1. He was immediately captivated by her magnetic personality, killer instinct and ferocious spirit. It was this spirit, in particular, which led to her being nicknamed ‘the panther’, not to mention it being an animal she was evidently fond of, having designed numerous objects themed around the feline for herself (including a vanity case and cigarette box). In 1933, having worked at Cartier for a number of years in the small leather goods and accessories department, she was appointed head of fine jewellery and it was then that her creative powers were fully unleashed. With her unique vision and technical skill, she revolutionised the house’s style with modern settings; she is responsible for having invented the principle of clip-on jewellery and for reintroducing the trend for using yellow gold following the 1920s era of monochrome, along with other non-traditional materials, such as rock crystal and platinum. Then, in 1948, the Duke of Windsor commissioned the jeweller to design a piece of jewellery for his wife. The three-dimensional gold clip-brooch featured a spectacular cabochon emerald upon which perched a gold-and-black spotted panther; a radical departure from the traditional jewellery of the decade, it was seen as a revolutionary piece of jewellery design. As a trend-setter of her day, it was not long before other high-profile women picked up on the Duchess’ new, widely reported fashion statement and the panther next appeared on the wealthy editor of Harper’s Bazaar in Paris, Daisy Fellowes; on this occasion, the motif was reinvented in platinum with piercing yellow diamonds for eyes and a spectacular 152-carat sapphire cabochon. From then on, the panther has continued to be worn by influential female figures, from Barbara Hutton and María Félix to Francine Weisweiller and Princess Nina Aga Khan, all of whom no doubt were subconsciously drawn to its strong and powerful persona. Pierre Rainero, the current image, style and heritage director at Cartier, sums it up: “Why was it so successful? Because the panther, as it was for Jeanne Toussaint, became the emblem of very independent women with their own freedom to enjoy, buying their own jewellery and in many cases making all the big decisions in life themselves.” Today, the Cartier panther appears bolder and fiercer than ever before, perhaps in order to convey how women have successfully battled through the troubles of the 20th century and have emerged fighting fit. Rainero comments: “In all the different creations, the common point is the panther at the centre of the composition, the centre of the creation. The panther is never the décor; the panther is really the inspiration of a piece of jewellery and the panther is the actor or the actress of the main role of the composition.” Who knows what the next century of the panther will bring but what we can say for certain is that the wild cat will continue to surprise and astound. cartier.com

THE CITY MAGAZINE | November 2014

JEWELLERY NEWS Cutting

Bring to Light

Edge Theo Fennell’s new collection of diamond pieces has been inspired by the exoticism of palm trees. Encompassing earrings, pendants and a cuff, each piece has been crafted in 18-karat white gold and pavé diamonds

For 125 years, De Beers has been capturing the hearts of women all around the world with its covetable diamond creations and now it has decided to celebrate its female muses through a series of portraits shot by Mary McCartney. Inspirational women, including fashion designer Alice Temperley MBE, artist Cornelia Parker OBE, choreographer Aszure Barton, Michelin-starred chef Skye Gyngell and photographer Chen Man, were chosen to front the Moments in Light initiative which aims to shine a light on the Women for Women International charity, which was founded with the aim of helping women in war-torn regions to rebuild their lives. Over the next two years, De Beers will provide financial support to six year-long programmes in Kosovo, Nigeria, Iraq and Rwanda. momentsinlight.co.uk debeers.co.uk

“A lot of palm trees had begun featuring in my sketches. They have always been reminiscent of exotic, happy times when I was a boy in the Far East or on holiday in the Caribbean. I realised their random sense of movement and light would make a fine starting point for a collection” Palm 18-karat white gold & pavé diamond necklace, earrings and cuff From £1,500 to £22,950 Theo Fennell, 4 The Courtyard, Royal Exchange; theofennell.com

Moving with the Times Founder of Boodles William Wainwright created the brand’s first pocket watches almost 150 years ago; this year the British jeweller revisits its heritage with the launch of its first high jewellery watch collection. Arriving into showrooms on 1 November, the Boodles Blossom watch has looked to the company’s existing, and iconic, Blossom jewellery collection for inspiration. The Boodles Blossom Watch is available in two sizes; POA Boodles, 2-3 The Courtyard, Royal Exchange boodles.com

THE CITY MAGAZINE | November 2014

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Feather in its Cap Argyle Diamonds marks its 30th anniversary this month with the launch of a limited edition pink diamond encrusted feather pendant (POA). This is the first time the diamond supplier has created a collection of feather pendants but only 100 of these are being made available globally, thereby speaking to the rarity and exclusivity so often associated with the company. The delicate design has been set with one carat of natural and ethically supplied Argyle pink diamonds.

Look to the Stars For Jason and Sophia Hirsh, founders of the eponymous London-based jeweller, designing jewellery is about creating individual works of art that tell a personal story. This has been evoked in the latest Hirsh design, Celestial ring, which was inspired by Jason’s childhood memories of playing with his mother’s rings. The three inspired designs – Pegasus, Orion and Lyra – comprise white-cut diamonds which represent stars and glide effortlessly on 26 rubies, coming in either 18-karat yellow, white or rose gold.

argylepinkdiamonds.com

Celestial ring, POA hirshlondon.com

A Fine Art In a beautiful Belgravia townhouse just moments away from Sloane Square is where you’ll find bespoke fine jeweller Niquesa’s atelier. Founded by Luigi and Elisabetta de Simone, the house draws upon four generations of Italian craftsmanship to create unique pieces. As well as the bespoke service, Niquesa also produces fine jewellery collections, the latest of which is called Harlequin. The baroque-themed collection comprises an eclectic and flamboyant selection of earrings, rings and necklaces; we particularly love the bold Ametrine Harlequin ring featuring amethysts, multicoloured sapphires and round brilliant-cut diamonds set in 18-karat yellow gold. Harlequin collection, from £4,560 By appointment at Niquesa Fine Jewellery 19 West Eaton Place, SW1X 8LT niquesafinejewellery.com

Sands of Time Italian artisan jeweller Pomellato’s latest collection of delicate, diamond pieces, entitled Sabbia, has been inspired by the molecular, glimmering particles of sand which cover the world’s most spectacular beaches. The irregular and undulated pavé design of small and large circlets forms each ring’s central motif and comes in white, brown or black diamonds, capturing the varying hues of shimmering sand. Each ring has been set in rose gold. The latest collection also includes bracelets, necklaces, pendants and earrings. Sabbia collection by Pomellato pomellato.com

THE CITY MAGAZINE | November 2014

STYLE HER: The beauties and their bags

We put a spotlight on the bags made famous at the hands of style icons

KELLY HERMÈS The Hermès Kelly bag shot to fame at the hands of Princess Grace who at the time used the bag’s large frame to hide her pregnancy from the paparazzi. However, the iconic bag was not always named after the Hollywood-actress-turned-princess; in fact, the bag was already a favourite of hers before it shared her name. £POA, uk.hermes.com

Jacqueline and Aristotle Onassis, 1970s

Jacqueline Onassis, 1970s

Grace Kelly, To Catch a Thief (1955) © Paramount Pictures

JACKIE BAG GUCCI

Model backstage at Gucci FW 2014

Famously taking its name from Jacqueline Kennedy Onassis, the Jackie Bag holds a special place in the history of the house. Created in the 1950s, the Gucci classic quickly became a preferred accessory of the style icon, who was photographed carrying different versions throughout the decade that followed. In 2009, under the creative direction of Frida Giannini, the ‘New Jackie’ was unveiled, re-establishing this timeless treasure as one of today’s most sought-after bags.

Models backstage at Gucci FW 2014

£1,980, gucci.com

LADY DIOR DIOR In 1995, the house of Dior unveiled the Lady Dior, a bag which went on to become one of the most iconic of our time. On her visit to the Cézanne exhibition in Paris, Diana Princess of Wales was gifted the bag by Bernadette Chirac and immediately fell in love. After she ordered every available version and was then rarely seen without one on her arm, the house renamed it in 1996 in homage to the Princess. From £2,450, dior.com

THE CITY MAGAZINE | November 2014

| FASHION |

Mulberry AW14, Cara Delevingne Collection

CARA DELEVINGNE MULBERRY British supermodel Cara Delevingne is the latest to follow in the footsteps of Lana Del Rey and Alexa Chung, unveiling her very own Mulberry bag. The model of the moment worked closely with Mulberry’s design team to create a collection of bags that share her name. Designed as a bag that can take you anywhere, the Cara Delevingne can be worn on the back, shoulder or can be held in the hand.

Isabella Rossellini, FW12 Advertising Campaign

From £995, mulberry.com

ISABELLA ROSSELLINI

BULGARI

The Isabella Rossellini bag is eclectic, modern and timeless, quite like its muse and namesake, the Italian film star and international style icon. This collaboration mirrors the actress’s creative flair via simple and essential lines, capturing the less-is-more allure and elegant demeanor of Isabella Rossellini. From £3,030, bulgari.com

ABOVEIsabella Rossellini and Ingrid Bergman, 1966 RIGHT Isabella

Rossellini, SS13 Advertising Campaign

(THE OTHER) SOFIA

SALVATORE FERRAGAMO

Despite popular belief, Sofia was the name given to this bag but without reference to Italy’s most honoured actress. This unmistakably unique bag was created in Spring/Summer 2009 as part of the Gancio Mediterraneo collection and has since become an icon of contemporary Ferragamo creativity. Elegant and timeless, we’d say the Sofia shares not only Loren’s name, but a few of the film stars best traits. From £1,005, ferragamo.com

THE CITY MAGAZINE | November 2014

| LIFESTYLE |

Cosmetic countdown stock up on winter essentials and start the build up to christmas

City ’s Winter survival kit:

A teaspoonful of Fountain could boost your daily routine. Free of artificial colours and flavours, it has stimulating coffee bean extract, Ginseng for brain power, and pure hyaluronic acid to help deliver nutrients effectively in the body.

The Energy Molecule, 240ml, £23.99, fountainbeauty.com

One of the new Heaven by Deborah Mitchell products, this treatment toner’s gellike texture allows a smooth application, and peppermint notes are refreshingly awakening in the morning.

3 Beauty

Advent calendars

Peppermint clarifying hydrogel, from £10 for 10ml, heavenskincare.com

1. L uxury Calendar, £250 ( from 10th November), Jo Malone, jomalone.co.uk

Celebrating 25 years of using fairtrade Shea Butter, L’Occitane’s new limited edition cream has an innovative light, whipped texture, which hydrates skin to form a protective barrier. Whipped body cream, 125ml, £18, loccitane.co.uk

2. L iberty Advent

Calendar,,£149 ( from 6th November), Liberty, liberty.co.uk

winter warmer Black peppercorns and coriander seeds give Aesop’s new body cream a warm, spicy aroma. On massaging into freshly cleansed skin, shea butter and almond oil quickly hydrate dry skin.

THE CITY MAGAZINE | November 2014

Resolute Hydrating Body Balm, 120ml, £25, aesop.com

3. E nchanted Spells

Christmas Advent Calendar, £85, Selfridges, selfridges.com

4.M ini Mani

Manor, £49, Ciaté, ciatelondon.com

Leather jacket, £1,475, Roundneck jumper, £115, Jeans, £110, Suede Mottram boots, £595, all by Polo Ralph Lauren, ralphlauren.com

COUNTRY CAPER This autumn, revive old classics and go hell for leather via the classic biker look Photographer: Glen Burrows Fashion Editor: Lucie Dodds

this page: Navy jacket, £200, Jeans, £78, both Abercrombie & Fitch, abercrombie.co.uk OPPOSITE PAGE: Black leather jacket, £1,550, Black leather trousers, £1,050, both Belstaff, belstaff.co.uk; Grey T-shirt, £28, Abercrombie & Fitch, abercrombie.co.uk

this page: Navy jacket, £200, Jeans, £78, both Abercrombie & Fitch, as before OPPOSITE PAGE: Leather jacket, £1,475, Roundneck jumper, £115, Jeans, £110, all by Polo Ralph Lauren, as before

Hair: Laura Tucker at Tiger Creative using Label.M Professional Haircare Blow Out Spray Hold & Gloss Spray

Make-Up: Laura Tucker at Tiger Creative using Crème de La Mer and Laura Mercier

STYLE HIM

Look the part, feel the part, from breakfast to boardroom to bar

singin’ in

the rain

Lockwood shine a bespoke light on the neglected accessory Several A/W 14 several.co £280 each lockwoodumbrellas.com

he ultimate British icon, the humble umbrella, has been given a hand-crafted make-over thanks to Lockwood. Founded this year by Edward Gucewicz and Moses Manley, its umbrellas are hand-made and customised in London. Your height determines its length, and there’s a choice of canopy colour, handcarved button fastenings (horn, stag antler or mussel shell) and even the wood species that the single stick shaft will originate from – a necessity for every gentleman’s wardrobe.

THE CITY MAGAZINE | November 2014

New Kid on the Block Creative director and founder of Several, Graeme Fidler, is a thoroughbred when it comes to menswear design, after previously holding senior positions at Aquascutum and Bally. Now launching his own line, Fidler’s trademark blend of traditional tailoring and progressive design really stands out. Other selected brands like Aspesi and Marwood will feature alongside Several’s edit of outerwear, British knitwear and English leather goods.

| fashion |

Access All Areas

anderson-sheppard.co.uk

Anderson & Sheppard look beyond the made-to-measure limits Established Mayfair tenant Anderson & Sheppard has expanded in the form of a new online edit of products, in order to complement its in-store bespoke services and make it easier for gents to get hold of the more basic, non-seasonal essentials. These include accessories from ties to socks, shirts and knitwear. With orders handpicked in store, standards won’t be slipping, and delivery is available internationally.

100th anniversary

FROM LEFT TO RIGHT 1937 Aquascutum Humphrey Bogart in The Caine Mutiny (1954) – in Aquascutum Kingsway Trevor Howard, Sophia Loren and William Holden in The Key (1958) – all in Aquascutum Lizabeth Scott in Stolen Face (1952) - in Aquascutum Queensway

The trench coat is a familiar wardrobe staple, made famous by everyone from film noir detectives to Hollywood legends like Humphrey Bogart and Sophia Loren. However, its real roots lie in the more sombre battlefields of WWI, commemorating its centenary this year. Led by the likes of heritage brand Aquascutum, the trench became the officers’ coat of choice. Practical in battle, its signature qualities from waterproofing to gun flaps still reign strong today – salute military traditon with one of The City Mag’s picks...

Weathered bone trench coat, £495, Hardy Amies, No.8 Savile Row, W1S

Concealed button fastening trench coat, £1,655, Cerruti, farfetch.com

Double cashmere trench coat in midnight blue, £2,795 Burberry, uk.burberry.com

Corby double breasted raincoat in camel, £700, Aquascutum, aquascutum.com

Military heritage of the trench coat THE CITY MAGAZINE | November 2014

|LIFESTYLE |

MOVEMBER AGENDA CHANGE THE FACE OF MEN’S HEALTH AND GROW A MO IN SUPPORT OF BROS

be Rul g e an in th one d e fo th m r Th Ba en on a M dg eo b er st the th w ad yl e p i e su ear ffici H t i ai cc d, al r S usi reci h a n M ee m e M s n h o yo d a an v av g t e m clea ove u’r t in em in he a n m a g B B in sh be e g m g be M r o ru ad ten ave r ta an in eti o ru sh ge an n ch d g cu Br le O & r H ce fac e Os sm to lo os s N St ai th e. sta ca oo ne us , if stip A R an r S er F te l r r th ed y m yo u d, ha ea or s t lat AZ az s a u £9 vi fte th ha a ’ O h r or a de ni e e a R Os 5, ng r, at t e , w ve ce cu to b E M B lat fir a ca D ith op nt re pl an olt ru h st ch B rR G on sh er , c M RU its t fo raz d m ay f on E az l u e o B a f o r o p t r hi th r. u ir h ro om i an B SH Lo or gh e F st an e wn n - ro U nd – E o a , m Mo a t cut m P on bo M pe Mu r a ch d r u s a o e l r h ,m n lto to di a st f r s , nb n B tio ve ur y, £ ach orm doc afe do 45 3 a k’s ro ro na , wn w l ck , M bl nc lon u ad e .co n. .uk do rdo e. n c

M ou

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.co k m

MADE IN MOVEMBER To support local makers and growers, visit movember.com

A Ev CU T LA an ery A So T H Sc d w Mo BO so fte ER VE i n a e s U s B re p s t s P ro rays ors reco ro n Ar com of t tray st un an fro mm ee Ar lin m he s a Ge eel ded d a m T en ds a Ed lin gto end fine nd Tw ar scis bla voi we d t pa dr itio gto n S la st unw ha n n S ha th qu a ee Fac so de d a ez he ir o e ze rri , £ h vin eri al nt rm ial rs. tip ny n rm G.E f ba i e s.c 29 av n t of as an .A rb an Sci o.u .50 ing g So g it y. F d fa th ty . S .R er , b ss k , D B ap up or cia es n afe Fa sc oo or .R ow . wi an e l ha e q ips ly cia is ts. s, .H l– £ c t a i h o ua th tri l H sor 2 ar rw s m L 0 i D ris im lit an m ai s , .R er s ith y s ks th r & ite . H ha a Co d ta to os a v in ., rri e, sol les the e s’ we id s

THE CITY MAGAZINE | October 2014

bo nd

.co m

Business award achieved

Staff incentivised

New business negotiated

A Private Box at Club Wembley gives your business a space unlike any other. And once it’s yours, you can do whatever you want with it – showcase products, hold amazing presentations or incentivise your staff – 360 days a year. Whatever you choose, it’s sure to get noticed. For more information privatebox@wembleystadium.com or 020 8795 9546

Deal done

Contract renewed

Cadenzza, Jubilee Place

Fashion event

27 NOVEMBER Receive up to 25 per cent off your favourite brands – now is the time to perk up your winter wardrobe

Let’s talk

fashion

For fashion shows, live entertainment and exclusive discounts on must-have fashion and jewellery across Canary Wharf’s top brands, experience an unmissable shopping event on 27 November

Anton Heunis Belle Epoque Bracelet, £143, Cadenzza, Jubilee Place

Sofia Bag, £695, Aspinal of London, Cabot Place

Grace Ring, £83, Cadenzza, Jubilee Place

Darcy Cuff, £49, Reiss, Cabot Place and Jubilee Place

Malania Strap Heels, £99, French Connection, Jubilee Place

Crackle Clutch, £45, Whistles, Jubilee Place

Star Clutch, £595, Aspinal of London, Cabot Place

Houndstooth Dress, £250, Jaegar, Cabot Place

Exclusive Discounts Carey Contrast Trousers, £389, Tiger of Sweden, Jubilee Place

Pleated Shirt, £145, Karen Millen, Jubilee Place

One day only Don’t miss out on fantastic offers across Canary Wharf’s leading brands. And with more discounts to follow – check canarywharf.com for details – there’s no better time to get ahead with your Christmas shop.

25%

Emmett London

20%

Eliza Beaded Clutch, £225, L.K.Bennett, Jubilee Place Blue Topaz Classic Border Set Studs, £140, CARAT*, Cabot Place Metallic Exotic Belt, £29.50, Banana Republic, Jubilee Place

Aspinal of London bareMinerals L.K.Bennett Monica Vinader Rituals… (Minimum spend £35) Sweaty Betty Wolford Carat* Orlebar Brown Moleskine Thomas Pink

15%

Amerigo Vespucci Cath Kidston Charles Tyrwhitt (suits only) Moss Bros (exclusions apply)

Embellished Cuff Top, £150, Jaegar, Cabot Place

10%

Karol Glitter Heel, £225, L.K.Bennett, Jubilee Place Fiji Diamond Bar Bracelet, from £1,975, Monica Vinader, Jubilee Place

Oliver Bonas (clothing only) Reiss Menswear Reiss Womenswear Correct at time of print.

canarywharf.com

@yourcanarywharf

The Art and Design Window GALLERies: Galleries showcase up-and-coming artists, designers and craftspeople and are located in Canada Place. Showing this month are:

WINDOW

Elizabeth Barile-Page  Canada Walk Bathed solely in the ‘modern light’ of the computer screen, Barile-Page’s subjects in Turn On Plug In Tune Out are captured in moments of quiet daily ritual: checking emails and browsing the internet. The series of paintings depicts the intimate relationship between devices and their users in a world which is increasingly reliant on digital communication. lizbarile.com

VISUAL ARTS Take a break to explore and enjoy Canary Wharf’s temporary exhibitions and permanent art collection around the estate

Past Present: Sculpture by Bridget McCrum  Until 14 November

Lobby, One Canada Square, Canary Wharf, E14 Free

Tayo Bello  Jubilee Walk Bello Creations are handcrafted jewellery pieces in sterling silver and gold combined with precious and semi-precious gemstones. Inspired by the beauty of nature and using traditional jewellery-making techniques, the end result aims to reflect and enhance the unique and elegant style of the wearer. D bellocreations.com

The exhibition covers all major areas of Bridget McCrum’s work, from an early carving at age 16 to bronze and carved stone sculptures made in 2014, her 80th year. In sculptures that convey her innate feeling for the natural world, her favoured subject matter is animals and birds, whose forms she may merge with those of ancient artefacts such as tools and ceremonial weapons – the curve of a wing may evoke the shape of an axe or knife. She also brings drawing into her sculpture, especially in carved pieces where she creates surface textures that throw the form into greater relief or indicate a soft area of downy feathers. She has a painter’s sensibility for patinating bronze, demonstrated here through the range of rich colour and tonal variation she achieves across the surface of both small and large pieces. McCrum is represented by Messum’s. D bridgetmccrum.com

EVENTS

With the nights getting colder, discover a cosy corner of Canary Wharf to spend an evening of live music, fantastic comedy or even a spin around an ice rink

CANARY WHARF COMEDY CLUB Brighten up your week with laugh-a-minute stand-up LAUGHS routines from some of the best comedians on ON TAP the circuit today. The Wednesday 12 November 7.15pm (doors 6.30pm) evening’s stellar East Wintergarden, line-up features Tom Canary Wharf, Deacon, Simon Evans £12 and Angela Barnes

SKATE UP A STORM

From 1 November All day Canada Square Park, Canary Wharf

ICE RINK CANARY WHARF Skate the twinkling trees and a striking architectural backdrop at Ice Rink Canary Wharf. Open right through winter until Saturday 28 February (except Christmas Day), it is the perfect venue for your Christmas party, leaving drinks or even birthday celebrations. The Q on Ice bar offers a varied selection of food and drink so there really is no better place to go this season. Getting to Canary Wharf couldn’t be easier – travel on public transport via the Jubilee Line tube or the DLR, travel on the

Thames Clippers river bus, or park in one of the four Canary Wharf underground public car parks. At weekends and Bank Holidays you can enjoy three hours free parking when you spend £10 at any of Canary Wharf’s shops, cafés, bars or restaurants. Or spend £10 in Canary Wharf’s Waitrose Food, Fashion & Home and enjoy 2hrs free parking Monday to Friday. BOOKING: Book tickets at icerinkcanarywharf.co.uk. Booking fee applies for online bookings.

We Remember A remembrance ceremony taking place in Wood Wharf on Tuesday 11 November will commemorate those affected in conflicts, past and present. It’s a time to remember those who fought for our freedom during the two World Wars and mourn and honour those who have lost their lives and the injured in more recent conflicts. There will be an introduction and readings by The Ven David Meara, Shaykh Ibrahim Mogra, Rabbi Dr Moshe Freedman and CSgt Daz Fuller.

In Memory

Tuesday 11 November From 10.30am, service begins 10.45am Wood Wharf Canary Wharf FREE

After Hours with…

ED HARCOURT PLUS REN HARVIEU Of Ed Harcourt’s six albums to date, one was Mercury nominated and the rest have earned an array of plaudits from the music press. He’s toured with REM, Wilco, Sophie Ellis-Bextor and Snow Patrol, performed with everyone from Patti Smith to Nick Cave, written songs with Paloma Faith and worked with Beth Ditto, Marianne Faithful and Lana Del Rey.

Live Music

Tuesday 11 November 7.45pm (doors 7pm) East Wintergarden, Canary Wharf, £18

BOOKING: Book tickets via 0871 220 0260 or seetickets.com. Booking fee applies. Tickets may be available on the door subject to availability. Maximum of 6 tickets per purchase. Unreserved cabaret seating, full bar and cloakroom available.

amongst others*. From doors open, you can order food and enjoy either a scrumptious GBK burger, a large pizza from Wildwood or noodles from Wagamama – all at your table.

BOOKING:

Book tickets via 0871 220 0260 or seetickets.com. Booking fee applies. Tickets may be available on the door subject to availability. Unreserved cabaret seating, full bar, food and cloakroom available. *Line up correct at time of publication.

Pudsey’s Pop-up Programme at Canary Wharf Canary Wharf Group supports BBC Children in Need this year with a day of song Friday 14 and dance. Take time November out from your hectic 12noon – 7pm day to learn some new Throughout Canary dance steps with Wharf malls former Strictly Come FREE* Dancing professional dancer Andrew Cuerden, meet Pudsey Bear, listen to an acoustic rock choir, chill to some beautiful harp music or enjoy an amazing kid’s performance by Haringey Shed – it’s all in aid of the BBC Children in Need, so dig deep and donate where you can. *Free but donations essential!

www.canarywharf.com

@yourcanarywharf

watch this space Mark Westall has been working in, and writing about, contemporary art on and off for almost 20 years. Each month, he introduces an artist on the cusp of greatness

This month: SUE CORKE

Find the work London BERLONI 63 Margaret Street London W1W 8SW info@berlonigallery.com 020 7580 1480

THE CITY MAGAZINE | November 2014

Corkeâ&#x20AC;&#x2122;s work wears its scientific credentials lightly, a mix of contemporary and traditional techniques bringing to life complex concepts of ownership and experience

| ART & INTERIORS |

hat’s so interesting? Science / art collaborations often seem a bit cold. Galleries are increasingly full of digitally created models, manipulations of data, 3D printed creations, and this is as it should be. The intersection of science and art is nowadays recognised as a fertile, mutually beneficial territory, but it can be a little dry. And then you meet the scratch n’ sniff lunar landscapes of Sue Corke. Corke’s work wears its scientific credentials lightly, a mix of contemporary and traditional techniques bringing to life complex concepts of ownership and experience raised by our potential colonisation of space with humanity, warmth and a dark humour. Just take those scratch n’ sniff prints. Working with long term collaborator Hagen Betzwieser, Corke highlights the impossibility of a sensory experience of space with scratch n’ sniff prints of the moon, impregnated with an olfactory ink developed by an industrial partner, to replicate the actual scent of the lunar surface. A formally trained artist, a graduate of the prestigious Falmouth School of Art, Corke’s interest in traditional technique has seen her go to extraordinary lengths to master a method, even completing a formal apprenticeship in etching and lithography at Edinburgh Printmakers. This mastery gives her a creative freedom to explore inventive new uses for these rare skills. Recent print works include a series of very large etchings of the moon. Inspired by the early work of Scottish astronomers James Nasmyth and James Carpenter; the prints portray in stunning graphic detail the surface of an imaginary moon in different phases. Produced through etching multiple tiled sheets of heavy gauge copper in a Ferric Chloride Etch for hours at a time to build up a heavily drawn and textured surface, the plates are then roughened and polished repeatedly in different sections to produce a unique black and white print every time. In contrast Frigoris and Tranquilitatis are a silk screened pop explosion of colour based on early US Geographic Survey studies of the topography of our own moon prior to the first Apollo landings. Corke is now coming to the end of a five year residency: The Firestation a unique and highly acclaimed programme for emerging artists. Previous artists include Turner Prize winner Martin Creed. During the residency she has produced work which has been exhibited internationally. Highlights from the last two years include Kosmica at Mexico’s Laboratorio, Arte Alameda, Microwave Hong Kong and Arte Liste Basel. Sue Corke is currently working towards her next solo show with Berloni in February 2015. Her collaboration with Hagen Betzwieser will also form a major focus for this event.

LEFT

Back in 5 Minutes Silkscreen, 2009, 70 x 100 cm, Edition 25 Printed at University College Falmouth, UK

BELOW FROM TOP

We Are Sorry For That, Silkscreen, 2008, 70x100 cm, Edition 25, Printed at Bauhaus, Germany, in collaboration with Hagen Betzwieser Good Luck with That Silkscreen, 2010, 70 x 100 cm, Edition 25 Printed at Edinburgh Printmakers, UK An Ideal Sketch of the Moon, 2012, copper plate etching, 9 plates, 127 x 127 cm

THE CITY MAGAZINE | November 2014

AIRPLANE TRIPTYCH PRINTS Return to the golden age of early air travel, with this black and white triptych from Eichholtz. Each print measures 55 x 105 cm, and has been accented with coordinating silver wooden frames to add a touch of retro glamour to your home interior. £450, luxdeco.com

RL’67 BOOM ARM FLOOR LAMP There’s something very raw and industrial yet chic and sophisticated about the RL’67 Boom Arm Floor Lamp from Ralph Lauren Home. You can imagine it in a converted warehouse or New York bachelor pad, yet its classic and adjustable silhouette could just as easily complement a more polished interior. £1,300, ralphlaurenhome.com

Words: TIFFANY EASTLAND

ONOCHROME

Home 88

This month, we set the tone with monochrome, reinventing a forever-in-style trend

THE CITY MAGAZINE | November 2014

MALCOM DESK The French rightly receive high praise for their effortless style, and the same can often be said for their homewares. The Malcom Desk from La Fibule is certainly a testament to this. Made from wenge-stained oak, the desk boasts both a fluid silhouette and clean lines, for a truly impressive alternative to traditional design. £2,250, luxdeco.com

| ART & INTERIORS |

FROZEN BY MAXIM VELČOVSKY AND BOLSHOI THEATRE MOSCOW Inspired by the transformation of water into ice, Maxim Velčovsky’s Frozen collection for Lasvit makes reference to glassmaking and the process of creating a solid object from a liquid material. Jan Plechac and Henry Wielgus took their inspiration for the Neverending Glory Collection from the world’s most eminent concert halls and theatres, including the Bolshoi Theatre in Moscow. Both Lasvit collections make truly stunning statements in the home. £POA, lasvit.com

BOND CHESS SET Play chess in true style with the Bond Chess Set from Ralph Lauren Home. Forming part of the new Downtown Modern collection, this truly luxurious piece has been crafted using the very finest of materials, including black leather, walnut and nickel, to sit stylishly in any home. £1,995, ralphlaurenhome.com

MARS CHAIR MK3 The Mars chair is one of Timothy Oulton’s most celebrated designs, as it cleverly transports elements of Art Deco to the future of furniture design. The chair receives an update through an unlikely pairing of handmoulded metal and distressed, vintage leather, while curved and bevelled lines put this piece at the forefront of design. POA, timothyoulton.co.uk

ASTROMASTER 130 EQ This is a furnishing with a great deal of function. It’s not just a telescope, it’s a dualpurpose telescope, suitable for terrestrial and celestial viewing. Featuring a quick and easy, no-tool setup, a permanently-mounted star pointer, and a German equatorial mount, the kit allows you to accurately locate and track sky objects; expect to be occupied for hours.

£189, sciencemuseumshop.co.uk

THE CITY MAGAZINE | November 2014

TECH TALK

Essential apparatus for keeping ahead of the curve

LIGHTS, CAMERA, ACTION Shoot Scorsese-worthy footage with our pick of the best camcorders

Sony

JVC

Canon

4K AX100

GC-RX115BEU

Lergia HF G30

Price £1,699 Weight 790g Effective pixels 14.2MP Focal length 9.3 - 111.6mm sony.com

Price £359.99 Weight 290g Effective pixels 2.5MP Focal length 2.9 - 116mm jvc.co.uk

Price £649.99 Weight 900g Effective pixels 2.91MP Focal length 3.67 - 73.4mm canon.com

The 3.5” slide-retractable LCD monitor has touch operations and can rotate 270 degrees vertically for easy high and low angle shooting

Whilst still in its infancy, 4K technology holds the future for digital cinema. Promising four times the resolution of full HD video, you can understand why tech giants are all vying to dominate the market with their 4K offerings. Panasonic’s latest camcorder is the first capable of recording 4K ultra HD video at 60 frames per second to an SD card, and sits well ahead of the crowd in creating stellar visuals. With a greater depth of field than past models, the ergonomically designed and surprisingly compact camcorder bridges the gap between professional and consumer filmmaking. The HC-X1000E produces first-rate cinematography while oozing a very retro kind of cool.

THE CITY MAGAZINE | November 2014

Triple manual rings enable speedy and intuitive camera work. The lens barrel boasts a focus ring, zoom ring and iris ring

Dual SD card slots allow for simultaneous recording, automatically switching cards when the first reaches full capacity

An illuminating LED light ring proves amazingly user-friendly

| LIFESTYLE |

Destination anywhere Having realised a clear desire for wireless versatility, the A2 marks B&O’s continued interest in the portables market. Aside from typical Beoplay design flair, the speakers boast 24-hour battery life, intelligent smartphone charging and innovative True360 omnidirectional sound. Finally, a premium portable speaker we can carry with confidence. Beoplay A2, £299, Bang & Olufsen, beoplay.com

Safe and sound

The 1,266k-dotequivalent colour viewfinder can be tilted for convenience and comfort

High capacity 7.2V 5800mA battery

Panasonic 4K Ultra HD HC-X1000E Price £2,274 Weight 1,550g Effective pixels 8.85MP Focal length 4.08 - 81.6mm panasonic.com

High fidelity An internal memory of 128GB, stone silver aluminium and a premium weighty sound make the AK120 2nd generation one state-of-the-art portable sound system. Newly added, direct NAS streaming provides the vital link between laptop and music device for a fuss free listening experience. It’s the most balanced output we’ve heard from any portable system and feels gratifyingly substantial in hand.

Formed in the final stages of fusion in a star’s life and over four billion years old, meteorite is one of biology’s most extraordinary rocks. But what, you may ask, has it got to do with tech? Well, designers at Senturion have used it to sculpt an innovative keyless entry system. Loaded with the latest tracking system technology, the meteorite bracelet is capable of syncing with any Yale or Paxton lock. Able to unlock everything from your home, wine cellar, gun cabinet and car, you’ll never have to worry about losing your keys again. Senturion V5AST Meteorite, £60,000, Senturion, senturionkey.com

AK120 II, £1,499, Astell & Kern, astellnkern.com

THE CITY MAGAZINE | November 2014

A new era for

product design Apple’s recent iPhone 6 launch proved that to excite the market, product designers have to be more than just surface designers – they need to be fully-fledged system engineers. Jack Phillips explains how it is a fact that’s changing the consumer goods game entirely

he debate about how technology will impact the way we design, make and use everyday objects in the future is becoming increasingly interesting. In just one example, advances in 3D printing could see consumers creating their own products and facilitating participatory design in a way like never before. The overwhelming change in product development is being brought about through our connection to the internet. The International Data Corporation predicts that 30 billion devices will be connected to the internet by 2020 and that revenue from these connected objects will reach £5.47 trillion that same year. We are already seeing excitement and adoption in retail, transportation and insurance applications, as well as expansion

THE CITY MAGAZINE | November 2014

into other areas such as manufacturing, utilities, government and banking. Jansen Hews is the programme manager of the Powerhouse Museum in Sydney. He is among a group of designers, curators and industry specialists who are seeking to answer the question of how new technology will change how we come to make, use and consume products. “Product designers have historically been focused on creating the things we can see, feel and operate. It’s still that way today,” he says. The newer field of software user interface design, found in smartphones and tablets, is largely derivative of that same approach. Hews says that while these “two disciplines together make up the heart of product design today”, it has been “the field of computing

| FEATURE |

FAR LEFT Apple CEO Tim Cook presents the iPhone 6 ABOVE FROM LEFT Devices through the ages, courtesy of the Powerhouse Museum, Sydney BELOW The Apple iPhone 6 and iWatch

that has driven so much change recently.” When the iPod was released in late 2001 it quickly became the top-selling device of its kind. While there were already digital media devices on the market, no one had yet produced such an elegant solution to the player interface. Apple has since sold 100 million iPod Touches, 200 million iPads and 500 million iPhones and is projected to sell six million units of the iPhone 6 before Christmas 2014. “Companies like Apple, Braun and Olivetti have made some of the iconic products of this time,” says Hews. From the MacBook to the T1 transistor radio, each has played its part in “democratising the flow of information and influenced the way we live our lives.” One area of potential growth is 3D printing, which combines computing technology with the traditional notion of creating physical things. By giving the individual the tools to make and customise their own products, the manufacturer is taken out of the equation entirely. “There is much more of a focus on participatory design and open source,” says Hews. “So if you look at new business models like Kickstarter, for example, consumers are much more able to get involved in the design process and even determine if projects proceed or not.” 3D printers have been around for a while, but they are becoming increasingly more useful to the average consumer as websites like MakerBot’s Thingiverse.com spring up to provide the blueprints to actually create objects. The trend for products to be connected, or even downloaded, suggests that the surfaces in our homes will become intuitive as well; something architect and designer Matthias Hank Haeusler believes will become a reality in the next five years.

“A kettle is no longer just a kettle; it is talking to the fridge to see if you are out of milk” “I argue that in smart cities more and more surfaces will have the ability to respond to humans. We can make curved screens that are actually part of buildings now, which can and will be a reality in the future,” he says. Even the humble home thermostat has been given the ‘connect’ treatment. New apps mean the temperature in your home can be controlled from your mobile device. You can make the thermostat talk to other home automation devices, even connect it with the power company to gain insights into energy costs or usage patterns that could save you money. As a result of the internet, and of the popularity of companies like Apple, even ‘traditional’ products are functioning differently. Manufacturers are embracing a mindset that incorporates participatory design and connectivity. The ability for products to talk to one another, sense their environment and collect data is becoming more and more important. A kettle is no longer just a kettle; it is talking to the fridge to see if you are out of milk. Opportunities have become too big for manufacturers to ignore. “The process of taking old or new objects and hacking into them to allow people to engage with them in a new way is really exciting,” says Hews. Indeed, the ability to do this is fast becoming a consumer demand. Participatory design and connectivity represent a real turning point for product innovation. Just as the internet created a thriving ecosystem of people doing fascinating things, connectivity is spurring a new breed of designer whose wares can be viewed, judged, applauded or scorned before they’ve even been printed.

THE CITY MAGAZINE | November 2014

FITNESS

The tips, cheats and training kit you need to stay at the top of your game

Unleash the Beast CrossFit and ToughMudder may have increased in popularity, but it is the Reebok Spartan Racing Series that’s been heralded as the ultimate test of fitness. Participants crawl beneath barbed wire, jump over fire and scale seven foot walls over courses of up to 20km. Not for the fainthearted, the international series thunders into London in May 2015. Before then you can kit yourself out in Reebok’s FW14 Spartan collection, the favoured choice of the world’s top strength and conditioning athletes. reebok.co.uk

Pro Precision Nike’s new Vapor Pro irons were influenced by direct insights from Nike Golf athletes Tiger Woods and Rory McIlroy. Longer blade lengths are said to add one degree of bounce for extra forgiveness through the turf. Elsewhere, third generation X3X grooves on a forged 1025 carbon steel chassis allow for spin control and shot-to-shot consistency. Promising an improved feel on both centre and off-centre strikes, these may just be the irons to turn your game around. nike.com

On the Edge Edge Cycle’s latest exercise concept taps into the hardhitting trend of HIIT training. Mixing rapid cycling and floor-based strength exercises the cycle boot camps aim to increase heart rate and maximise calorie burn (1,000 calories can be burnt in just 45 minutes). High intensity, both on and off the bike, classes offer a change up for those bored with stagnated City spinning. 2 Leather Lane, EC1N 7RA

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Reebok Spartan Long Sleeve Compression Tee, Reebok Spartan Mud board Shorts, Reebok All-Terrain Series Super trainers

| LIFESTYLE |

Go big and stay home

Fitness Frontier

Tone up, shed fat and train hard with our essential picks for at-home fitness. From core strength and muscle toning to balance and agility, these are the apparatus for hardcore home workouts.

Feminine training togs Textured Foam Roller, £30, Nike, nike.com

Wellness Ball™, £230, Technogym, technogym.com

Versatile fitness threads go a long way in making our desk-to-gym transition a little less painful. Collection Two from Every Second Counts focuses on an easy shift between fitness routine and daily life for the busy City woman. Incorporating highperformance fabrics with neon panelling, the feminine togs ensure you’ll look damn good whilst working up a sweat.

Leveraging the abilities of wireless tracking, Myontec’s patented technology transforms sportswear into an intelligent training companion. The Finnish company is set to introduce a new dimension in understanding muscle behaviour via Kickstarter, the Mybody Coach. Stats such as muscle performance and balance, warm-up threshold, injury risks and overload warnings are monitored through bio signals from the body, transmitting information directly into your ear for real-time audio coaching. myontec.com

everysecondcounts.co.uk

White Leather Boxing Gloves, approx. £55, BOXITALIA, seletti.it

Solo Heavy Weighted Jump Rope, £30.85, CrossRope, crossrope.co.uk

Primal Gorilla Bell (72lb), £125, Onnit, onnit.com

THE CITY MAGAZINE | November 2014

OLYMPIC AWAY DAYS The City Magazine discovers corporate days with a difference at the London 2012 Olympic venues of Lee Valley Regional Park

THE CITY MAGAZINE | November 2014

| PROMOTION |

s sporting memory serves, the London 2012 Olympic Games were pretty awesome. Britain’s gold medal glory from that year remains a nostalgic part of London’s recent history and the Games’ venues still hold all the atmosphere of our sporting success. Located only 40 minutes from central London, Lee Valley White Water Centre has been heralded as the best of its kind in the world. For an office away day, the White Water Centre offers the chance for you to raft on a 300m rapids course that was used for the Canoe Slalom events at the 2012 Games – where Team GB won both gold and silver in the men’s doubles canoe slalom. Olympic-standard rapids, fed by 13,000 litres of water per second, make for a team building experience with a serious adrenaline kick. Other full or half-day packages include kayaking, hydrospeeding – where you carve through the currents on a bodyboard – and raft building – a Robinson Crusoe-esque experience if ever there was one. The centre’s water wipe-out challenges add a competitive dimension to team building sessions, after which you can enjoy private catering and the venue’s bar. Post rapids, gold medal-winning motivational speakers can be arranged to share insights into the 2012 Games and Team GB’s successful winning mentality. Tim Baillie MBE and Etienne Stott MBE struck gold in the canoe doubles slalom (C2) and both can be booked for speaking. Slightly closer to home, the Stratford central Lee Valley VeloPark, with its curvaceous architecture and sporting fame, is arguably the most iconic venue from London 2012. It is where Great Britain picked up the most gold medals and Sir Chris Hoy became Britain’s most successful Olympian. Corporate events can be hosted track side or in private suites and meeting rooms, overlooking the vast venue or the Olympic park. With time on the world famous track, guests can mix track cycling with a variety of cycling disciplines, from BMX to mountain biking and of course qualified coaches are on hand to advise technique. Half or full day experiences can let guests test their times against those of Olympians and jump the bumps of the remodelled BMX course. Lee Valley VeloPark’s packages combine exclusive room hire for three hours with up to two hours of track cycling. The VeloPark’s events calendar also allows for hospitality in the track centre, as cycling stars race by, but the real draw is an immersive, Olympic-level sporting experience in which you and your team can share. Lee Valley Regional Park also serves as an inspirational venue for everything from product launches to exhibitions and celebrations. For more information please call Lee Valley White Water Centre on 08456 770 606 or Lee Valley VeloPark on 08456 770 603, visitleevalley.org.uk

THE CITY MAGAZINE | November 2014

AT THE HELM OF famous TURF As Wembley Stadium’s events calendar grows ever more diverse, The City Magazine talks membership experience, event highlights and a promising future with Club Wembley director Heath Harvey

fter a 15-year tenure in the golf industry, Heath Harvey has made a home for himself at one of the world’s most iconic venues. Directing Club Wembley, Harvey has overseen a big diversification of membership offerings, including the annual NFL International series, heated boxing clashes and the world’s first stadium poker tournament. As Wembley’s calendar continues to expand, we catch up with the man holding the best seats in the house. What makes Club Wembley unique within the sports entertainment world? We believe Club Wembley is the most all-round sports and music hospitality membership going. Be it The FA Cup Final, watching England’s Senior Men perform in UEFA and FIFA tournament qualifiers or being stirred by sharing a concert with 90,000 other fans of a music artist, these are the kind of events Club Wembley provides year on year to its members.

THE CITY MAGAZINE | November 2014

What can someone expect from membership of the Bobby Moore Club? There are few examples in stadia of hospitality experiences on the level of the Bobby Moore Club. Although the quality of the food and wine is fabulous, it’s about the all-round experience, which comes from watching the game from the seats nearest the player benches and being entertained by football legends. Why are Private Boxes so popular with businesses? As the name suggests, Private Boxes allow a company or an individual the opportunity to entertain in their own space and to their specific personal requirements. It is a matter of preference as to whether a company wants to entertain in a shared restaurant in Club Wembley or whether they prefer the intimacy that comes with a box branded in their company colours and enjoying a menu they have selected.

TOP LEFT Club Wembley director Heath Harvey RIGHT - CLOCKWISE FROM TOP The NFL comes to Wembley; England football team celebrate scoring on home soil; Froch takes on Groves in their boxing rematch; Arsenal lifts The FA Cup

| promotion |

What’s the best sporting event or music gig you’ve ever watched at Wembley? Although it’s hard to pick one event when Wembley has hosted two Champions League finals in the last four years and some nail-biting Championship play-offs, I think I’m still recovering from the recently hosted Froch v Groves boxing clash which was an amazing spectacle. What’s the best live sporting event you’ve seen elsewhere in the world? The London Olympics were exceptional.As a stadium we hosted nine games, with over 70,000 fans attending. I don’t expect we’ll see anything similar to it in our lifetime. The Games left me with incredible memories, which I’m sure are shared by every spectator who watched in London 2012. What’s the most challenging part of your job? I haven’t yet mastered the art of being in two places at once, so it is always a challenge seeing as many people as I would like to at an event. Nothing gives me more pleasure than spending time with our members when they are here at the stadium. The members are the lifeblood of Club Wembley and the reason we exist. Did the immediate success of the NFL series take you by surprise? Not at all. You may recall that Channel 4 brought American football to the UK back in 1982. Thirty years later, it’s great to see that TV following manifest itself in three competitive season fixtures at Wembley. The success of the NFL has been rightfully earned and their fanatical fanbase has been rightfully rewarded. How will Wembley’s extensive events calendar continue to diversify? We are always looking at new events beyond the current list of football, Rugby League, Rugby Union, NFL and music concerts. Last year, we hosted the world’s first stadium poker tournament. The success of Froch vs Groves means we are also looking into more boxing events. I think seeing something like the Red Bull X Fighters under the Wembley arch would be a real spectacle. If you could play at Wembley yourself, for what sport, for which team and in which game would you choose? It would be hard to choose between pulling on the England jersey and playing for my country or scoring the winner for Chelsea in The FA Cup Final. Either way, the nearest I’ll get to that will be playing against our Club Wembley members when they play on the pitch in our annual charity day.

THE CITY MAGAZINE | November 2014

A RETURN TO FORM The latest GTi is pretty good, but the new Volkswagen Golf R is something else again. Matthew Carter wants one

t was longer ago than I care to admit, but I still remember the first time I drove a Golf GTi. Not to put too fine a point on it, it was a revelation. VW took a humble Golf, the front-wheel drive hatchback it created to replace the venerable Beetle, and played with its specification. Their boffins gave it mechanical fuel injection – the ‘i’ bit of its name – taking power from the 1.6-litre engine to a heady 110hp. They added a few bits of red paint here and there and gave it slightly wider wheels, adding bits of black plastic to the wheel arches so that the tyres were covered. And they junked the original gear-lever knob and replaced it with a dimpled ball (it’s a Golf, geddit?). The changes were small but significant. That original GTi was astonishing, a genuinely exciting little car with performance, handling and a sheer joie de vivre that outstripped all its rivals put together… not difficult as most of them were in the stone age and still using cart springs and rear-wheel drive. Little wonder, then, that the GTi created a whole new genre of car, the hot hatch. But the only trouble with being first to come up with a new idea is that once everyone else gets round to playing catch up, they have a target to aim at. Pretty soon everyone was at it, and the Golf started to lose its place on top. It didn’t help that subsequent Golfs started to put on weight and to lose some of their sharpness. As they got fatter, they were given bigger engines, which made them heavier and more ponderous still. The GTi was still the best of the Golfs, but it was no longer the best of the hot hatches. It took VW until the Mark 6 to stop the

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| MOTORING |

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| MOTORING |

rot and until the current Mark 7 for its mainstay motor Volkswagen to make it back to the Golf R 3-dr top. The latest GTi is probably the best hot Price £29,900 hatch out there. Engine Front-mounted, 1,984cc, Or rather it was. turbocharged 4-cylinder petrol For VW has now Power 300hp launched the Golf R, Performance 155mph, 0-62mph a 300hp, four-wheel in 5.3 secs drive version of the Drive Four-wheel drive, GTi. And it’s an six-speed manual awesome drive. There have been Golf Rs before, and indeed there was also the R32. That was powered by a thirsty 3.2-litre V6 engine that, despite its size, could muster only 240hp. The engine in the new Golf R is a mere 2-litre, four cylinder unit, but it produces an impressive 300hp making it the most powerful production Golf yet. Although THE RIVALS it has much in common with the engine powering the ordinary GTi, just about everything has been modified – cylinder head, pistons, valves, turbocharger – so that power jumps by around 80hp. That translates into a zero to 62mph time of just over 5 seconds while top speed is electronically limited to 155mph. With improved fuel economy and lower emissions, the new Golf R is around 18 per cent more efficient than its predecessor. Getting that power to the tarmac is taken care of by a new electronically controlled four-wheel drive system. In RENAULT MEGANE Renaultsport 265 gentle use, the car is effectively a frontThe Mégane is a track day favourite driver, but as soon as you start throwing it with plenty of power, an eager attitude around a little the system starts to share and razor sharp handling to match. the drive between all four wheels. But the uncompromising ride is firm to And if you start to get really heavy with uncomfortable. And, to these eyes at least, it the car – at a track day, for example – the looks a little too boy racer. system is capable of sending all the torque to the back wheels for a bit of extra fun. Naturally the Golf R has all manner of other electronic gizmos to keep you on the straight and narrow though unlike lesser Golfs, the stability control can be turned off (press and hold the ESC button for three seconds) so that it can be used on a track without nanny intervening. So far all this makes the Golf R sound like a boy racer rather than a classy hot hatchback. Nothing could be further from the truth. The Golf R is a handsome and sophisticated beast. A series of subtle changes to the exterior – notably unique SEAT LEON CUPRA 280 alloy wheels, a new front and rear bumper, Underneath it’s essentially a Golf GTi side skirts, modified radiator grille and with more power – 280hp plays 220hp – so daytime running lamps integrated into the not quite as potent as the Golf R and with standard bi-xenon headlights – mark it out front-wheel drive only. But because it carries as something more than an ordinary Golf less weight it is perhaps more fun than the without turning it into a caricature of one. top Golf, if a touch more unruly. It’s noticeably It’s a lesson that ought to be taken on cheaper, too, but doesn’t have the cachet of board by some other manufacturers who the Golf R. think that go-faster hatchbacks ought

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to wear extra bits of plastic and have their bodies covered in decals, the motoring world’s equivalent of tattoos. The interior is an object lesson in how it should be done with clear and concise instruments complete with natty blue needles (and the interior has blue ambient lighting, too) while top-quality materials are used throughout. On the road, the Golf R is engaging and incisive. The steering is unbelievably quick and accurate, the brakes positive and the handling just about as neutral as it can be. Downsides? Well the ride is, at best, firm while the lowered chassis positively hates London’s speed bumps. Proving that this is a car you can live with every day are standard features such as a good sat nav, DAB radio and an easy to use Bluetooth pairing facility for your mobile phone. In fact, it is unusually well equipped for a German car, but there’s still plenty of opportunity to tick a few option boxes. If you don’t like the Alcantara trimmed seats you can pay more for full leather ones and there’s a worthwhile sat nav upgrade that includes a bigger 8.0in touchscreen. If you’re going to restrict your driving to the public highway it makes sense to opt for the remarkable seven-speed DSG clutchless gearbox… especially so, if you live in the city. It puts an extra £1,415 on the bill, but it’s money well spent. Prices start at a shade under £30k for the three-door R and rise to almost £32,000 for the five-door DSG model. Is that a lot for a Golf ? Perhaps, but the R is so much more than a mere Golf. In fact, it had exactly the same effect on me as the original GTi did all those years ago. This is a remarkable blend of raw driver appeal and streetwise sophistication. It can handle day-to-day routine with ease yet provide full on entertainment when the time comes. I really want one.

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FF! 10% O E T QUO 0 CITY1

THE ALFIERI & OMEGA Words: Jennifer Mason

LEG ROOM The concept has adopted the same attitude and 2+2 style of the 1957 3500 GT and the 1959 5000 GT

WHAT’S IN A NAME?

THE FINISHING TOUCHES Design accents throughout the concept are finished in Maserati Blue, as is the Alfieri signature at the rear, which has been reproduced from the brand’s archives

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The Alfieri name is a tribute to Alfieri Maserati, the engineer who founded ‘Officine Alfieri Maserati’ in Bologna a century ago next month

| MOTORING |

IN CONTROL The dashboard is inspired by the Maserati 5000 GT

SHINING BRIGHT The Alfieri features bi-xenon LED headlamps, shaped at the front and back to follow the shoulders of the car

POWER BY NUMBERS The engine sends 460 horsepower and 384 lb-ft of torque through a sixspeed automated manual gearbox and a limited-slip rear differential

ENGINE PRIDE The 4.7-litre, naturally aspirated V-8 engine comes from the GranTurismo

Maserati say the Alfieri will be in production in coupé form by 2016, and as a cabriolet the following year (maserati100.com)

A STEADY FOUNDATION

IN A SPIN Staggered-diameter, forged aluminium wheels measuring 20 inches in front and 21 inches at the rear feature decorative spokes; a subtle nod to 1950s design

The chassis is based on the GranTurismo MC Stradale, but 9.4in shorter. The carbonceramic brake discs are also taken from this model

In many motoring reviews, writers are keen to talk about the power, the drive and the ride. Often, this is because they can’t find anything remarkable to say about what the car actually looks like. This is not a problem Maserati vehicles often suffer from. They exude and embody style in a thoroughly Italian manner. Watching one pass by affects me the way Michelangelo’s David impresses an art-lover. It’s the knowledge of vision and creativity brought to life in a very tangible way. The new Maserati Alfieri concept, launched earlier this year at motor shows across the world, is a prime example of how the brand has managed to embrace the futuristic possibilities for motoring while harking back to the golden age of its designs. The team have taken little pieces from past models and amalgamated them in a new sleek, sensuous shell, which they describe as looking ‘as though a metallic veil has been draped over a naked body’. Intrigued? So was I.

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A star is born Cruise holidays are having a revival; luxury vessels with increasingly high standards are out to refute stereotypes, while the jet-set are poised to step aboard. Laura Binder sets sail with Celebrity Cruises

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| travel |

ashion, like travel, goes in cycles, and if 60s style is making a comeback for 2015 (just ask Vogue), then the cruise is resurfacing from its heyday to become the luxury choice for discerning jet-setters. Of course, some of you may need convincing, as up until now there’s been a certain stigma attached to the classic cruise liner; OAP guests, X Factor-style entertainment and a mad dash round the local sights before you’re herded back on ship and it’s anchors aweigh. But – as I am about to discover – that ‘cabaret cruise’ image is so 1971. The cruise has had a 21stcentury makeover and heading the revival is Celebrity Cruises, a fleet of 11 super-vessels that sailed in from the US in the new millennium with the kind of modern attitude and luxury assets to put preconceptions firmly back in their box. The cruise, it seems, is back and there’s not a glitterball in sight. It’s with a few nagging stereotypes that I board Celebrity Reflections in Rome to embark on an 11day Mediterranean voyage that will take in Santorini, Istanbul, Ephesus, Mykonos, Athens and Naples and back to Rome. As the newest member of the Celebrity fleet, Reflections weighs in at more than 122,000 tonnes and has an on-board occupancy of 2,886 guests (not to mention 2,000-plus staff). Whether you’re a virgin cruiser like me or a seasoned sailor, she’s a spectacular vision in white. It’s at this late stage that it dawns on me that I am boarding a ship on which I’ll be sea-bound for almost two weeks. While for some it’s a welcome concept, for others who fancy themselves as independent adventurers the prospect is a little claustrophobic. Happily, with a vessel this vast, any feelings of being confined quickly evaporate as I stroll through arrivals and continue along labyrinthine lobbies to my suite. Space is generous on Reflections; stay in Aqua Class – as I did – and you’ll be privy to a pristine, honey-hued room with floor-to-ceiling windows and, beyond it, a sea-facing balcony with loungers to soak in the sun (which goes rather well with the bottle of Champagne found on ice). Aqua Class guests gain

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complimentary access to the healthy eating Blu Restaurant and the standout spa’s Persian Garden – an oasis of calm. It’s a class that will keep the caloriecounting and health-conscious happy, burying the idea of all-you-can-eat cruises in the process. While our suite is chic and contemporary, those who feel it could be a little on the compact side should make the most of Suite Class. Launching in April 2015, I’m told the Reflections Suite will boast, in its panoramic corner spot, balcony-set baths, a walk-in wardrobe and a shower that’s cantilevered over the ship’s side (and that’s in addition to butler service, 24-hour room service, a personal shopper and Bulgari bath products). By the time I’ve checked in, my concerns about cabarets, walking sticks and buffets are diminishing fast and it only takes a somewhat lengthy turn about the ship’s 14 decks to be convinced that the 1970s cruise is dead: real-grass decks bristle in the open air, two swimming pools and four hot tubs simmer under the Med sun and seven speciality restaurants beckon – as did a Martini bar (one bar of nine), designer boutiques, Canyon Ranch Spa, theatre, art gallery… the list goes on. Indeed, at every turn I can feel my British cynicism ebbing away. What you’re left with is exactly what the super-ship intends; “a contemporary cruise experience laced with luxury”. So now it’s time to live it up; the ship is essentially a floating hotel of five-star proportions, one that allows you to wake up in a new destination each day, minus the hassle of airport check-ins, passport control, packing and unpacking and – horror of horror – delays. Whether you’re with your partner, family or friends, spend ‘sea days’ as we do; soaking up the rays poolside and drinking in panoramic sea views you’d pay top dollar for on dry land. Take a chilled drink to the hot tubs or, if you’ve had enough of the high seas (though, to my surprise, the novelty never waned) hang out at The Lawn Club in cabanas that would look well-placed at your favourite beach club. A real highlight is Reflections’ firstrate spa Canyon Ranch. The Uber-health conscious spa and wellness brand is usually found on dry land in some of the States’ swankiest health resorts – it is the only spot to receive Condé Nast Traveller’s Best Destination Spa Award 11 times – and the brand has partnered with nine of Celebrity’s ships. One look at the extensive spa menu is enough to have me wishing for a day at sea – the perfect excuse to be pampered for the duration. Although there’s everything from organic body wraps and detoxifying body treatments to acupuncture and oxygen-boosting facials,

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| travel |

been on before,” affirms Michael later that evening, a 40-something medical professional who cottoned on to Celebrity’s charms early; this is his 12th voyage. “It’s the youngest cruise crowd you’ll find on the circuit too – and nowhere has anything like this,” he tells me, motioning to the DJ who looks like she’s been lifted from one of Chelsea’s trendiest nightspots. Indeed, supping espresso Martinis at the ice-topped bar (caviar snacks and rare vodka optional), our ‘night out’ on board has only just begun. We drink one-off tipples next at the Molecular Bar, dreamt up by Junior Merino (or ‘The Liquid Chef ’), before sitting out beneath the star-lit sky supping the award-winning Eureka at the Sunset Bar. If you’re a Top Tier Suite guest, you get access to the private Michael’s Club, reminiscent of a Mayfair cigar lounge with its rich conker hues, leather seats and brass bar serving up to 64 international craft beers. If wine is more your thing, Reflections has that covered too; not only does it boast more than 500 wines on board but it’s also home to some of the world’s rarest labels, and wine masterclasses are on offer if you need yet another way to pass your time. Connoisseurs of art can get their fill just as easily thanks to the fact that each deck’s walls double up as an art gallery, so you may prefer to put your wine glass down and instead spend time perusing the works of Peter Max, Marcus Glenn and Romero Britto before having your prized piece shipped home. After a week, I am yet to explore the theatre, casino, high-end boutiques, library it’s the Environ vitamin-infused facials or the tempting-sounding Hideaway where that will have your friends at home asking giant birdcage-style seats are suspended suspiciously if you really were on a cruise from the ceiling. (ask for the flawless, ivory-skinned Marilize With so much happening on board, – she’s a facial pro). it’s easy to forget that we’re gaining some Of course, there are ample serious sea miles in the process, but opportunities to overindulge as well; disembarking doesn’t mean being left you’re on holiday, after all. While there to fend for ourselves for a few clueless hours. are five complimentary dining spots Reflections moors for a whole day in each on board, it’s the ship’s seven speciality new sun-kissed destination – in Istanbul’s restaurants that see a new dawn of case for the entire day and night – which cruiser changing into their finer threads means we can explore at our leisure and and sashaying through the immaculate, even have a night out before heading back music-filled lobbies. There are enough on board to relax before our next port of call. options to give you choice-anxiety (Italian On this luxury floating hotel, with at Murano or international at Blu, or everything you could desire at your beck sizzling meats at The Lawn Club Grill) and call, the only 70s stereotypes left are but it’s the originality that will surprise a touch of old-school glamour and good you most; the upside-down jet-black traditional values; there’s a ‘formal night’ lampshades that illuminate the Qsine where some ladies go all-out in floorrestaurant are the first sign that it’s no skimming gowns like a scene from James ordinary cruise restaurant, followed by an Bond and staff fall over themselves to please offbeat waitress with a flash of platinum and call you by your first name. To my hair and iPad menus. Playfully inventive well-travelled mind, that’s no bad thing. My dishes come thick and fast, from sushi parting advice, from one virgin cruiser to lollipops to popcorn-style fish and chips another, is to believe this year’s travel hype; and decorate-your-own cupcakes. I’m yet it’s a new dawn and a new day at sea. to find a restaurant like it in London. “The food has the edge on any cruise I’ve celebritycruises.co.uk

“After a week, I am yet to explore the theatre, casino, high-end boutiques, library or the temptingsounding Hideaway”

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rise of the Super Chalet

Welcome to Europe’s most exclusive slope-side escapes, where casinos, climbing walls and cinema rooms come as standard

Words: Amy Welch & Richard Brown

Chalet Edelweiss Resort: Courchevel, France Sleeps: 16 Price: £9,970 pppw summitretreats.com

Chalet Zermatt Peak Resort: Zermatt, Switzerland Sleeps: 10 average Price: £5,750 pppw summitretreats.com

Overview Setting a new precedent in luxury chalet accommodation, Zermatt Peak boasts the usual ski room and boot warmer basics and the not-sonormal library, wine cellar, home cinema, private gym and helipad. USP Luxury without limit Straight out of a Bond movie, Zermatt Peak is accessed via a

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private tunnel built into the mountainside. Inside, every detail impresses. The interior design is one of the slickest in the Alps. Think walnut floors, Brazilian stone, Italian marble, crystal chandeliers and Bang & Olufsen technology throughout.

Overview Edleweiss is nestled among pine trees in exclusive Bellecote, placing you right next to the piste and only a couple of minutes from the centre of Courchevel 1850. Edelweiss’s seven floors stretch out from a magnificent spiral staircase, which forms the focal point of the sprawling

| TRAVEL |

Chalet Husky Resort: Val d’Isère, France Sleeps: 14 Price: £1,275 pppw scottdunn.com

Overview One of the newest kids on the super chalet block, this Val d’Isère wonder mansion is a lesson in contemporary cool. A vast open-plan living space spans the entire length of the chalet, from the dining area, complete with bar at one end, over a glass walkway suspended above the indoor atrium garden, to the lounge area. Quirky and interesting artefacts and objects d’art are peppered throughout the chalet, while striking lighting adds an extra artistic dimension. USP The crème de la crème of games rooms Chalet Husky is home to a climbing wall, an archery range and rifle shooting – giving you plenty to do even if you don’t ski. There is also a wellness area complete with a huge pool and infinity waterfall, sauna and Jacuzzi. Were it not for some of the world’s best ski runs on your doorstep, you could easily hole up in Husky for a week without incurring cabin fever.

Zermatt, Switzerland

chalet. It also comes with a wellness spa, waterfall, private car lift, swimming pool and nightclub. A team of private staff include a massage therapist and ski instructor. No DJ though, so you’ll have to provide that yourself. USP As much an art gallery as ski chalet Feeling like half private members’ club, half art gallery, Edelweiss houses the work of a host of artists, from Damien Hirst to Dali, with limited-edition, Hollywoodinspired Terry O’Neill prints adorning the walls.

Norte Resort: Verbier, Switzerland Sleeps: 12 Price: From £54,000 pw hautemontagne.com

Overview This incredible 1,000 square metre chalet is spread over four fabulously luxurious floors. Relax in Norte’s six en-suite bedrooms, in the private spa, or socialise in the impressive living areas. Retreat to the separate one-bedroom apartment and enjoy it all with unparalleled views. A heated indoor pool, hammam, sauna, outdoor hot tub and two massage rooms provide the ultimate in-house spa experience. USP Understated elegance Norte presents a different take on luxury compared with its counterparts. Unpretentious style and refined elegance are the order of the day throughout the chalet’s warm and contemporary interior. The relaxation spa and intimate lounge areas cater for serenity, ideal for those looking for a home away from home.

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Chalet Mont Blanc Resort Megève, France Sleeps: 16 Price: From £97,000 pw consensioholidays.co.uk

Overview The champion of modern ski retreats, Chalet Mont Blanc is perched on the Jaillet piste and offers incredible ski-in, ski-out facilities. Once you draw your eye away from the jaw-dropping views over Megève, the chalet also boasts some seriously enviable interiors. The mezzanine-floor cocktail bar and the heated outdoor infinity pool in particular make for a conscious luxury you can’t ignore. USP This season’s most opulent new chalet Modern design sits at every turn in Mont Blanc as the chalet holds an inviting, albeit obvious, sense of luxury within its glass walls. Touches such as an integrated Bang & Olufsen sound system make this the ultimate aprés ski host. A hillside vantage point affords views of the famous village below, but in such surrounds the best party in town remains within this chalet’s sumptuous confines.

Le Petit Palais Resort: Courchevel 1850, France Sleeps: 14 Price: From £79,000 pw firefly-collection.com

Overview Le Petit Palais offers ski-in, ski-out luxury on the slopes of the Bellacote piste with unparalleled access to the legendary Trois Vallées ski area.

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Built over six floors, the chalet mixes comfort and elegance on the peaceful upper floors, whilst state-of-the-art entertainment takes centre stage below. With an extensive master suite spanning an entire floor, this indulgent chalet has been designed with the ultimate party host in mind. USP For 24-hour party people Three levels below the relaxed wood-burning fire in the mezzanine library lies a royalblue bunker of debauchery. From the nightclub, equipped with professional DJ kit, to the wine cellar and poker table, Le Petit Palais offers a sanctuary for those harbouring a ski-hard, play-hard mentality. If a party of 14 seems restrained, a unique concept is offered in the form of an underground tunnel to sister chalet Le Petit Chateau, enabling a 30-strong guest list. Good luck making the first ski lift the next day.

| TRAVEL |

Truffe Blanche Resort: Verbier, Switzerland Sleeps: 18 Price: £55,715 pw hautemontagne.com

Overview Truffe Blanche occupies one of Verbier’s most exclusive addresses and excels in all things grand and elegant. Built over a tremendous 3000 square metres, the opulent chalet infuses old-world charm with modern design. Nods to both Roman and Ottoman architecture set the tone for the lavish spa, while upstairs suites come laden with original paintings and antiques; certain to appeal to any

art connoisseur. USP The jewel in Verbier’s crown Guests descend on Truffe Blanche knowing full well they will receive luxury in abundance – the Roman Empire-inspired spa spans 1,500 square metres alone. Truffe Blanche favours the traditional, as 17th-century-style furnishings and Italian silks adorn the rich interior. One peculiar modern twist is the wine cellar’s underwater windows, which look out into the onyx, sculpted pool. Set within a truly cult address, the vodka and sushi bar, private nightclub and Turkish hammam complete the welcome wonders.

DENT BLANCHE Resort: Verbier, Switzerland Sleeps: 14 Price: £32,100 pw firefly-collection.com

Overview Hidden away in the trees with several balconies looking out onto a dramatic mountain vista, Dent Blanche is just two minutes from the centre of town. Inside, wood dominates, with deep fluffy rugs and fauxfur cushions thrown in, as well as contemporary paintings and various artefacts. USP Its proximity to Verbier’s après-ski scene You can be clinking glasses in the centre of Verbier one minute, and taking a quiet dip in the chalet’s infinity pool the next. You’re also only a stone’s throw from the Médran lift.

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| TRAVEL |

Chalet Quezac

Chalet la Bergerie

Resort: Tignes, France Sleeps: 14 Price: From £1,780 pppw summitretreats.com

Resort: Courchevel, France Sleeps: 14 Price: From £99,000 pw firefly-collection.com

Overview This hilltop chalet in Tignes Les Brévières comprises seven individually-designed suites, each with a 3D television and unique wall painting. The open-plan living area hosts all manner of entertainment tables, from billiards to ping-pong to football. While the chalet’s exterior focuses on mood lighting, inside, entertainment systems and a souped-up Jacuzzi make this a mountain retreat with a difference.

Overview The vast Chalet la Bergerie is a haven in the hilltops for foodies. A team of 12 highly qualified staff, including a professional chef, service all five floors of Courchevel’s biggest chalet. La Bergerie is only a stone’s throw from the town centre yet has a feel of seclusion and nurtures a focus on fine gastronomy and state-of-the-art technology.

USP The Alpine chalet where art meets play Owner Guerlain Chicherit, a four-times world champion free skier, has withheld no imagination in designing Chalet Quezac to his personal take on luxury and adventure. Unique sculpture pieces include a necklace made from his crashed and burnt-out rally car, now hanging proudly round the neck of a giant red penguin. Other quirks include a secret playroom, one of only two glass baths in the world and a private bubble lift, located in the garden.

USP The ultimate choice for food lovers An extensively stocked kitchen, bar and wine cellar ensure each guest at the 18-seat dining table can indulge in a personalised culinary experience after a day on the slopes. Although guests enjoy plenty of private space to relax in and unwind, most parties come together in the open-plan kitchen or lounge in the evening, the social hub of the la Bergerie. ©Yves Garneau

Chalet Uberhaus Resort: Lech, Austria Sleeps: 16 Price: From £31,300 pw oxfordski.com

Overview Nestling in the enclave of Oberlech, Chalet Uberhaus has superb views of the surrounding peaks. With a warm and inviting interior, it caters for those seeking versatile entertainment after a day of serious skiing. Two full days of ski instruction are included in the rental as

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the chalet’s ski-in, ski-out credentials come into its own. USP Serious ski opportunities and après ski entertainment Impressive skiing access is quite a draw for those passionate about the slopes, while an extensive games room has ultimate après ski appeal. A snooker table, bar and wine cave make this a social post-ski retreat. The outdoor hot tub is the best vantage point for mountain views, especially when there’s bubbly at hand.

©Yves Garneau

LONDON HOMES &

PROPERTY Covering THE CITY, Wapping, Shad Thames, Shoreditch & Islington

Slow but

Steady OUR AGENTS DISCUSS THE YEAR AHEAD

Downtown Modern Collection by Ralph Lauren Home ralphlaurenhome.com

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PROPERTY NEWS SALES

Keep tabs on the market, whether you are living or investing in the capital

HOT PROPERTY Tower Walk

NICK MOORE, senior sales negotiator at Knight Frank Islington, comments on the residential sales market Media reports on the London property market have been largely negative over the past quarter, following a whirlwind of activity earlier in the year. Whilst it’s true to say that the market has become more settled over the past three months it would be unfair to suggest that activity levels have dipped or that prices have dropped, especially in Islington. According to a recent report by the Centre for Economics and Business Research, UK house prices are set to fall next year and whilst they aren’t suggesting that there’s going to be a crash in the market, they are predicting that the market will adjust after having gotten ahead of itself at the start of 2014. In Islington, only time will tell and we will have to wait until after Christmas to see what the new year has in store for the market, however, we would expect the market to rise at a more modest rate than what we have become used to of late. In pricing terms, Islington has long been the underdog compared to its more affluent neighbours in the west, which is part of the reason it has become so popular over the past few years. As prices have risen at stratospheric rates across Central London, buyers who would have traditionally bought in the centre or the west now consider Islington a viable alternative. With the rapid growth of King’s Cross and the development around the City Road basin, Islington remains on the radar of owner occupiers and investors alike. Many of these buyers are discovering Islington for the first time and are taking an interest in the second hand stock that the area has to offer, a sure sign that the strength of the area is set to continue. Knight Frank Islington 020 3657 7340 knightfrank.co.uk/islington

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The boroughs of Newham, Tower Hamlets, Greenwich and Barking and Dagenham will account for 29 per cent of all new homes planned for London in the five years to the end of 2018 - Savills

Home-Grown Luxury When a company boasts a client list that includes five-star hotels such as the Ritz and the Four Seasons, not to mention foreign royalty, it’s safe to expect nothing less than the ultimate in luxury. In fact, the British furniture brand DAVIDSON has grown to become one of the most desirable interior brands and its new autumn collection is certainly testament to this. Offering a magnificent array of stunning statement pieces, the collection features beautiful woods hand-gilded with golden and silver leaf. Natural beauty goes hand-inhand with bespoke craftsmanship, introducing us to the most elegant and unique pieces to dress up our home. davidsonlondon.com

| HOMES & PROPERTY |

LETTINGS Spanning approximately 4,000 square feet and set within the heart of St Katharine Docks marina, this stunning luxury townhouse is one of only seven privileged houses in the western dock. Aside from its impressive grand scale interior, this premier property boasts the most incredible views. Spread over three floors this family home has been refurbished and finished to an exceptional standard, benefitting from a custom built kitchen that sits adjacent to a large living room. Complete with wine cellar, drawing room and guest suite, this property is ideal for those that like to entertain.

£4,600,000

St. Katharines Way, E1W 020 7480 6848, knightfrank.co.uk

Scratch the surface Italian tile specialist Minoli has launched its latest collection, reminding us why they remain the UK’s leading tile provider. Durable, practical and stunning, the new A/W14 Minoli collection offers a wood and stone effect available in a variety of colours and textures. We’re particularly impressed by Minoli’s excellent replication of a natural wood, the perfect solution for internal areas including the bathroom.

NICOLA WILLIAMS, lettings manager at Knight Frank Islington, comments on the trends in the residential lettings market The Islington rental market continued its recovery in August. Historically, August and September have always been the busiest months of the year, this is mainly due to students coming to the area in time for the academic year. However, this year we have been even busier with sales applicants adopting a wait-and-see approach due to uncertainty surrounding next May’s general election, and have either rented a property or renewed their current tenancy. In-turn, this has added a lot of strain to the level of rental properties available and there is now a lack of stock on the market. When there is a lack of supply, rents increase and we have seen rental values rise for the sixth consecutive month. A rise of 0.5 per cent in August pushed the index to its highest level since November 2012 and meant annual growth was 1.2 per cent, the highest rate in more than two years. One bedroom apartments are in huge demand as they generate the best yields for buy to let investors; yields in Islington are running between three per cent and five per cent. As the sales market becomes more settled and the rental market continues its revival, yields are expected to increase. Very few new build developments will be completed before the third quarter of 2015 so stock levels will continue to be constricted, increasing rents. We have also seen a growth in lets throughout the prime market (properties over £1,000 a week). Islington is now competing with areas in the West such as Notting Hill, and appealing to corporate relocation because of the proximity to the City. With an influx of corporate relocations in telecoms, media and technology, as well as oil and gas, these applicants with larger budgets this end of the market will continue to thrive. Knight Frank Islington 020 3657 7340 knightfrank.co.uk/islington

Minoli Travelling West Brown, £72 per MT2, Minoli, minoli.co.uk

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KnightFrank.co.uk One Commercial Street, Aldgate E1 Luxury new build

Impressive and contemporary apartment to rent in a luxury development in Aldgate. 2 bedrooms, 2 bathrooms, dual aspect reception room, kitchen, terrace and 24 hour concierge. EPC rating B. Approximately 92 sq m ﴾987 sq ft﴿ Available furnished Guide price: £850 per week

Wapping Lettings KnightFrank.co.uk/lettings wappinglettings@knightfrank.com 020 8166 5366 ﴾WAQ201194﴿

Ivory House, St Katharine Docks E1W Unique location

A charming and elegant second floor flat in the heart of St Katharine Docks. 4 bedrooms, 3 bathrooms ﴾2 en suite﴿, reception room, kitchen, separate dining area, balcony with views of the dock and 24 hour concierge. EPC rating C. Approximately 188 sq m ﴾2,024 sq ft﴿ Available furnished Guide price: £1,950 per week

Wapping Lettings KnightFrank.co.uk/lettings wappinglettings@knightfrank.com 020 8166 5366 ﴾WAQ202935﴿

All potential tenants should be advised that, as well as rent, an administration fee of £276 will apply when renting a property. Please ask us for more information about other fees that may apply or visit KnightFrank.co.uk/tenantcharges

The City Magazine Nov 14 Lettings Crawford Ivory

20/10/2014 11:15:09

KnightFrank.co.uk The Heron, City EC2Y Lifestyle development

Impressive 23rd floor apartment in a luxury new build development close to Moorgate station. 1 bedroom, 1 bathroom, open plan kitchen and reception room, gym, cinema, bar, private members' club and 24 hour concierge. EPC rating B. Approximately 54 sq m ﴾579 sq ft﴿ Available furnished Guide price: £690 per week

Wapping Lettings KnightFrank.co.uk/lettings wappinglettings@knightfrank.com 020 8166 5366 ﴾WAQ193033﴿

One Tower Bridge, Southbank SE1 Exclusive luxury apartment

Brand new apartment in London's most sought after riverside development. 2 bedrooms, 2 bathrooms, reception room, kitchen, multiple balconies, communal garden, concierge, and a residents' gym, sauna and jacuzzi set to open soon. EPC rating B. Approximately 83 sq m ﴾896 sq ft﴿ Available furnished Guide price: £895 per week

Wapping Lettings KnightFrank.co.uk/lettings wappinglettings@knightfrank.com 020 8166 5366 ﴾WAQ203087﴿

City Magazine Nov 14 Heron OTB

20/10/2014 11:38:09

KnightFrank.co.uk Capital Wharf, Wapping E1W

Exceptional river views A well presented second floor flat in a popular portered development on Wapping High Street. 2 bedrooms, 2 bathrooms, reception room with balcony and river views, kitchen, porter, underground parking space and communal gym. EPC rating B. Approximately 93 sq m ﴾1,001 sq ft﴿ Leasehold ﴾981 years﴿ Guide price: £1,175,000

KnightFrank.co.uk/wapping wapping@knightfrank.com 020 8166 5372 ﴾WAP140176﴿

Butlers Wharf, Shad Thames SE1 Views of Tower Bridge

Outstanding penthouse apartment with breathtaking river views towards Tower Bridge. 3 bedrooms, 2 bathrooms, reception room, kitchen, guest cloakroom, multiple terraces, concierg and underground parking. EPC rating C. Approximately 269 sq m ﴾2,896 sq ft﴿ Leasehold ﴾135 years﴿ Guide price: £4,850,000

KnightFrank.co.uk/wapping wapping@knightfrank.com 020 8166 5372 ﴾WAP140163﴿

City Magazine Sales November 2014

20/10/2014 10:45:24

KnightFrank.co.uk

Westover Road, Wandsworth SW18 Imposing double fronted house with parking

A rare opportunity to acquire a beautifully presented detached family house in one of Wandsworthâ&#x20AC;&#x2122;s most attractive roads. 6 bedrooms, 3 bathrooms (1 en suite), 3 reception rooms, study, kitchen, utility room, downstairs cloakroom, 73 x 45ft garden, off street parking. Approximately 383 sq m (4,123 sq ft) Freehold

(WND140021)

KnightFrank.co.uk/wandsworth wandsworth@knightfrank.com 020 3597 7680

KnightFrank.co.uk

Albion Riverside, Battersea Park SW11 One bedroom flat in Albion Riverside

An elegant, unusually large one bedroom flat located on the 5th floor of the iconic Albion Riverside. This property is beautifully finished throughout with great refinement and benefits from far-reaching south-facing views. This property benefits from 24 hour security and concierge and leisure facilities. Master bedroom, kitchen/dining/reception room, bathroom, utility room. EPC Rating B. Approximately 78 sq m (840 sq ft)

KnightFrank.co.uk/Battersea battersea@knightfrank.com 020 3597 7670

Leasehold Guide price: ÂŁ965,000 (RVR140034)

Cit

KnightFrank.co.uk

Plate House, Isle of Dogs E14

Discovery Dock, Isle of Dogs E14

A stunning two bedroom duplex apartment offering period features and river views. 2 bedrooms, bathroom, reception room, open plan kitchen, concierge, private parking. Approximately 85.9 sq m ﴾925 sq ft﴿

An immaculately presented two bedroom apartment with parking, located on the 5th floor. 2 bedrooms, 2 bathrooms, reception room, kitchen, balcony, concierge, private parking. Approximately 80.64 sq m ﴾868 sq ft﴿

Guide price: £650,000

Guide price: £635,000

KnightFrank.co.uk/canary‐wharf

Goodhart Place, Limehouse E14

Vanguard Building, Westferry Road E14

A well presented three double bedroom house spread over three floors. 3 bedrooms, 3 bathrooms, reception room, kitchen/dining room, 2 balconies, garage. Approximately 147.99 sq m ﴾1,593 sq ft﴿

A bright well presented two bedroom flat with uninterrupted river views. 2 bedrooms, 2 bathrooms, reception room, kitchen, balcony, concierge, private parking. Approximately 83.54 sq m ﴾899 sq ft﴿

Guide price: £895,000

Guide price: £660,000

KnightFrank.co.uk/canary‐wharf

020 3641 6112 cwharf@knightfrank.com

City Mag - Nov Sales

22/10/2014 11:04:48

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savills.co.uk

JELLICOE HOUSE, sw8

MANDEL HOUSE, sw18

Open plan reception room/kitchen ø 3 bedrooms ø 3 bath/ shower rooms ø separate utility room ø 2 terraces ø river views ø 24 hour concierge ø 144 sq m (1,550 sq ft) ø EPC=C

Open plan reception room/kitchen ø 2 bedrooms ø 2 bathrooms ø 2 balconies ø secure parking space ø river views ø 24 hour concierge ø residents leisure facilities ø 89 sq m (958 sq ft) ø EPC=C

Guide £1.925 million Leasehold

Guide £1.35 million Leasehold

Savills Battersea Bridge fmoynihan@savills.com 020 8877 4823

Savills Putney fmoynihan@savills.com 020 8877 4823

PUTNEY WHARF, sw15

ORBIS WHARF, sw11

Open plan reception room/kitchen ø 2 bedrooms ø 2 bathrooms ø separate utility room ø parking space ø river views ø balcony ø 24 hour concierge ø 93 sq m (1,058 sq ft) ø EPC=C

Open plan reception room/kitchen ø 2 bedrooms ø bathroom ø balcony ø river views ø underground parking ø 24 hour concierge ø 65 sq m (700 sq ft) ø EPC=B

Guide £999,750 Leasehold

Guide £600,000 Leasehold

Savills Putney pctrench@savills.com 020 8877 4823

Savills Battersea Bridge pctrench@savills.com 020 8877 4823

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savills.co.uk

BLACKFRIARS ROAD, se1

TOWER BRIDGE WHARF, e1w

Double reception room ø kitchen/breakfast room ø 5 bedrooms ø 2 bathrooms ø guest w.c ø utility room ø garden ø private gated entrance ø 193 sq m (2,079 sq ft) ø EPC=E

Reception room ø kitchen ø 2 bedrooms ø 2 bathrooms ø wrap around balcony ø concierge ø underground parking ø 112 sq m (1,211 sq ft) ø EPC=C

Guide £2.495 million Leasehold

Guide £1.85 million Share of Freehold

Savills Wapping nefthymiou@savills.com 020 7456 6800

IVORY HOUSE, e1w

CINNABAR WHARF, e14

Reception room ø kitchen ø 2 bathrooms ø 2 bedrooms ø balcony ø underground parking ø daytime porterage ø 88 sq m (950 sq ft) ø EPC=C

Open plan kitchen/reception room ø double bedroom ø bathroom ø allocated underground parking space ø 24hr concierge ø 61 sq m (657 sq ft) ø EPC=C

Guide £1.5 million Leasehold

Guide £535,000 Leasehold

Savills Wapping nefthymiou@savills.com 020 7456 6800

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savills.co.uk

LETTINGS LAYOUT ONLY

BEDFORD ROW, se1

THE HERON, ec2y

4 bedrooms ø 5 bathrooms ø 2 reception rooms ø kitchen ø garden ø underground garage ø Council Tax=H ø EPC=B

2 bedrooms (1 en suite) ø further bathroom ø reception room ø balcony with City views ø 24hr security & concierge ø residents gym, bar & club ø Council Tax=G ø EPC=C

Furnished £2,000 per week

Furnished £1,100 per week

+ £276 inc VAT one-off admin fee and other charges may apply* Savills Wapping djtaylor@savills.com 020 7456 6826

+ £276 inc VAT one-off admin fee and other charges may apply* Savills Wapping kdabrila@savills.com 020 7456 6817

BELGRAVE COURT, e14

CHINNOCKS WHARF, e14

2 bedrooms (1 en suite) ø further bathroom ø balcony ø views towards the City and Canary Wharf ø 24hr security ø Council Tax=G ø EPC=TBC

2 bedrooms (1 en suite) ø further bathroom ø balcony with river view ø allocated parking ø 24hr porterage ø Council Tax=F ø EPC=B

£750 per week

Furnished £450 per week

+ £276 inc VAT one-off admin fee and other charges may apply* Savills Canary Wharf lbrunning@savills.com 0207 531 2523

+ £276 inc VAT one-off admin fee and other charges may apply* Savills Canary Wharf ibates@savills.com 020 7531 2522

3 4

*£36 inc VAT for each additional tenant/occupant/guarantor reference where required. Inventory check out fee – charged at the end of or early termination of the tenancy and the amount is dependent on the property size and whether furnished/unfurnished. For more details, visit www.savills.co.uk/fees.

T WO NEW ST YLISH DEVELOPMENTS

2 and 3 bedroom apartments and penthouses for sale

3 bedroom apartments and penthouses for sale

NOVASW1.COM/THENOVABUILDING

KINGSGATESW1.COM

JOIN US ON 5th NOVEMBER FROM 5â&#x20AC;&#x201C;8PM AT THE VICTORIA PAVILION, 12 CARDINAL WALK, ROOF GARDEN LEVEL, CARDINAL PLACE, SW1E 5JE TO DISCOVER MORE ABOUT THESE TWO PRESTIGIOUS ADDRESSES. RSVP AND REGISTER YOUR INTEREST RESIDENTIAL@LANDSECURITIES.COM RESIDENTIALBYLANDSECURITIES.COM Disclaimer: Whilst every care has been taken in preparing these particulars, Knight Frank, Savills, Strutt & Parker and the respective landlords/vendors give no warranty, express or implied, as to the completeness or accuracy of the information contained herein. These particulars are subject to errors, omissions, change of price/rental or other conditions, withdrawal without notice, and any special listing conditions imposed by our principals. Knight Frank, Savills and Strutt & Parker will not be liable for negligence, or for any direct or indirect consequential losses or damages arising from the use of this information. You should satisfy yourself about the completeness or accuracy of any information or materials. The information contained herein does not form part of an offer or contract.

Beyond your expectations www.hamptons.co.uk

Princelet Street, E1 £2,999,950 Freehold An exceptional 4 bedroom Georgian house that offers fantastic entertaining space, period features and luxury fittings. EPC: C

Speed House, EC2 £890,000 Leashold This beautifully presented and wonderfully bright one bedroom apartment with South-West garden views. EPC: D

Tintagel Court, EC1 £725,000 Freehold Two bedroom freehold house, secure underground parking, communal gardens and concierge.

Wheeler Street, E1 £949,950 Leashold A stunning two bedroom lateral apartment featuring exposed brickwork, wooden flooring and timber beams. EPC: C

Well Court, EC4 £1,395,000 Leashold Two bedroom triplex apartment with a superb roof terrace offering wonderful City views. EPC: B

The Heron, EC2 £1,280,000 Leashold A lovely 14th floor two bedroom apartment with parking, gym, 24 hour concierge, cinema room and restaurant. EPC: C

Hamptons City Office Sales. 020 7717 5435 | Lettings. 020 7717 5437

Minerva House, SE1 £2,000,000 Leasehold A two/three bedroom apartment in the heart of Borough Market. EPC: B

Luna House, SE16 £950,000 Leasehold A bright two bedroom apartment in this riverside development. EPC: C

Raven Wharf, SE1 £1,285,000 Leasehold A two bedroom apartment in this popular Shad Thames development.

Parker Building, SE16 £765,000 Leasehold A fantastic two bedroom apartment with views. EPC: B

EPC: C

Butlers & Colonial Wharf, SE1 £850,000 Leasehold A two bedroom apartment in central Shad Thames. EPC: C

Hamptons Tower Bridge Office Sales. 020 7717 5489 | Lettings. 020 7717 5491

Tea Trade Wharf, SE1 £1,375,000 Leasehold A two bedroom apartment within a superb warehouse conversion. EPC: C

Beyond your expectations www.hamptons.co.uk

Ludgate Square, EC4 £1,100 per week (charges apply*) A beautiful three bedroom penthouse apartment with a private roof terrace overlooking St Paul’s Cathedral. EPC: D

Farringdon Road, EC1 £849 per week (charges apply*) A fantastic three bedroom flat on the fifth floor of this well maintained apartment building. EPC: C

Gowers Walk, E1 £695 per week (charges apply*) Fantastic two bedroom apartment with a large terrace located in this warehouse conversion development. EPC: C

Monument Street, EC3 £430 per week (charges apply*) A very well presented one bedroom apartment in the heart of the City of London benefiting from daytime concierge. EPC: B

Farringdon Road, EC1 £425 per week (charges apply*) A one bedroom apartment in this well located development with concierge in the heart of Farringdon. EPC: B

Ludgate Square, EC4 £395 per week (charges apply*) A well positioned one bedroom apartment in the west of the City, moments to St Pauls and the Thames. EPC: E

Hamptons City Office Lettings. 020 7717 5437 | Sales. 020 7717 5435

*Tenant Charges Tenants should note that as well as rent, an administration charge of £216 (Inc. VAT) per property and a referencing charge of £54 (Inc. VAT) per person will apply when renting a property. Please ask us for more information about other fees that may apply or visit www.hamptons.co.uk/rent/tenant-charges

St. Saviours Wharf, SE1 £1,490 per week (charges apply*) A three bedroom apartment with separate study and some original features.

Tea Trade Wharf, SE1 £875 per week (charges apply*) A two bedroom apartment in this exclusive riverside development. EPC: C

EPC: E

Cardamom Building, SE1 £875 per week (charges apply*) A two bedroom apartment with two balconies in the heart of Shad Thames.

Webber Street, SE1 £620 per week (charges apply*) A fantastic top floor two bedroom apartment with views across the city.

EPC: C

EPC: D

Caraway Apartments, SE1 £475 per week (charges apply*) A one bedroom apartment in central Shad Thames with heated swimming pool and gym. EPC: C

Cardamom Building, SE1 £925 per week (charges apply*) A three bedroom penthouse apartment with a south facing terrace. EPC: E

Hamptons Tower Bridge Office Lettings. 020 7717 5491 | Sales. 020 7717 5489

On your marks, get set… Let! You might like to know that we register more than 50,000 You might like to know that we register more than 50,000 applicants each year.** So, if you’re looking to let a property applicants each year. So, if you’re looking to let a property quickly, contact us today. quickly, contact us today.

City & West End 020 7717 5436 City & West End 7717 5436 Tower Bridge 020020 7717 5446 Tower Bridge 020 7717 Islington 020 7717 54585446 Islington 020 7717 5458 www.hamptons.co.uk www.hamptons.co.uk *Hamptons International data from 2013 to 2014 *Hamptons International data from 2013 to 2014

Beyond your expectations Beyond your expectations

This message is just ahead of the bandwagon. The market has changed. Our realistic pricing and honest advice has not. Plus we have more property and more buyers than the same time last year. Our property is moving, is yours?

City & West End 020 7717 5434 Tower Bridge 020 7717 5444 Islington 020 7717 5456 www.hamptons.co.uk

Beyond your expectations

020 7337 4000 jll.co.uk/residential royalsales@eu.jll.com royallettings@eu.jll.com 16-17 Royal Exchange, London, EC3V 3LL

St Dunstan’s Court, EC4 Luxury 1 and 2 bedroom apartments to rent – coming soon.

A stunning selection of 1 and 2 bedroom apartments in the brand new and exclusive Taylor Wimpey development, St Dunstan’s Court will soon be coming to the market. These luxury apartments boast a high specification with porcelain finished bathrooms, fitted kitchens with Siemens appliances, timber flooring to hallways and receptions, balconies (to selected units), built-in wardrobes to bedrooms, under-floor heating and comfort cooling to receptions and bedrooms. Residents can also benefit from the secluded private landscaped gardens with stunning views of the Grade II listed Maughan Library. The

development boasts 24 hour concierge and a communal club area. St Dunstan’s Court is situated on Fetter Lane, between Holborn and Fleet Street. This central location is walking distance to the heart of the City, as well as to the West End. Excellent transport links close by include Chancery Lane, Holborn, Temple and Farringdon underground stations, as well as Blackfriars and City Thameslink stations. 1 bedroom apartments starting from £590 per week 2 bedroom apartments starting from £900 per week

Fenchurch House, EC3 OIE £1,400,000

Louisa Street, E1 £745,000

A charming 3 bedroom penthouse apartment with 1,615 sq ft of living space and a large terrace. Situated on the 5th floor of this attractive 1920s building in the City of London. Well positioned for Aldgate and Tower Hill tube stations.

A 2 bedroom, freehold Georgian house retaining many original features, with mature garden. Louisa Street is a quaint Victorian terrace within a conservation area, located in vibrant East London, and moments from Stepney Green station.

Penthouse at Lovat Lane, EC3 £1,295,000

Two Fifty One, SE1 Prices on Application

A stunning 2 bedroom penthouse occupying the entire 4th floor of a boutique development, offering 807 sq ft of living space and nestled along one of the Capital’s most characteristic cobbled lanes in the heart of the City of London.

An elegant 41-storey residential tower, located on Southwark Bridge Road.Two Fifty One is part of the Elephant & Castle regeneration scheme and set to be one of Southwark’s most striking developments. Completion due Q3 2017

020 7201 6699

jll.co.uk/residential westend.sales@eu.jll.com 30 Warwick Street, W1B 5NH

Charing Cross Road, WC2 £6,250,000

A stunning, recently completed Penthouse apartment on the 6th floor of the former Saint Martins School of Art, offering 2,465 sq. ft. of space including three bedroom suites, a large west facing reception room with double height windows and a roof terrace with views across Soho. The St Martins Lofts offer a discerning purchaser contemporary space in the heart of The West End, above the newly opened Foyle’s flagship bookshop.

• Large open plan reception room / kitchen with double height ceiling • Impressive master bedroom suite with views south and west • 2 further bedrooms, 2 further bathrooms • 450 sq. ft. roof terrace • 6th floor, 2,465 sq. ft. / 229 sq m • Brand new development • Lift • Day Concierge • Central West End location

Charing Cross Road, WC2 £4,550,000

Peter Landers Photography

Unique to the West End, Apartment 5 at The St Martins Lofts offers breath-taking double height space in a contemporary loft style apartment. With an outstanding master bedroom suite, one further bedroom, two further bathrooms and a large open plan reception / dining area, the property also benefits from a large mezzanine space, perfect for a home office, library or third bedroom. Measuring approx. 2,445 sq. ft. and with the benefit of a day concierge, this property represents the ultimate ‘city pad’.

Jamie McGregor Smith

• Open plan reception / dining room with double height ceiling and loft style windows • Large master bedroom with walk through dressing area and en-suite bathroom • 1 further bedroom, 2 further bathrooms • Mezzanine reception space • 4th floor, 2,445 sq. ft. / 227 sqm • Brand new development • Lift • Day Concierge • Central West End location

Jamie McGregor Smith

A More Perfect Union Two weeks after the announcement that W.A.Ellis and JLL are joining forces, Henry Hopwood-Phillips speaks to the heads of each business to discuss the latest merger that is causing ripples across the central London residential real estate market

Lucy Morton, Senior Partner at W.A.Ellis, and Andrew Frost, Head of Residential at JLL Photography by Sarel Jansen

“I

know you are trying to get an edge on the story, but it’s going to be hard,” Andrew Frost, Head of Residential at JLL ( Jones Lang LaSalle), warns me halfway through the interview. I’ve been throwing words like “challenge”, “obstacle” and “opposition” at both Andrew and Lucy Morton, Senior Partner at W.A.Ellis, for about half an hour, like a boy chucking mud at a wall. But none of it is sticking. We are talking about the merger just announced between the two firms at one of JLL’s latest residential developments, Saint Martins Lofts on the Charing Cross Road, once home to the Central Saint Martins School of Art. “If there was overlap or a suspicion

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that one of the businesses was failing then people might have tried to write this venture off as some sort of lifeboat experiment, but even our competitors have congratulated us on the compatibility of both companies,” Andrew reminds me. It’s not as if either firm hasn’t had practice teaming up. “We were affiliated on projects that go back to the 1970s,” Lucy notes. I ask what was being worked on back then. “Her history homework I expect!” Andrew jokes. Lucy recalls working closely together on the Observatory Gardens in the 1990s. I try to get both to capture the logic of the merger in one sentence. “W.A.Ellis gets a global platform,”

| HOMES & PROPERTY |

Lucy replies immediately. “From a JLL perspective,” Andrew comments, “clients were telling us they loved our advice on the development cycle but doubted our ability to access Prime Central London.” With W.A.Ellis on board, he looks forward to increased access to this relatively closed market. “They have the reputation, the clients, the relationships, the market share, the skills and experience; it’s all very exciting,” he adds. Lucy is keen to emphasise that none of this will be lost. “I’ll still be in charge of the agency and make sure we uphold our standing as the people who refuse to pass clients from pillar to post. It’s an ethos we’re proud of.” Both are also particularly proud of the fact there is “no overlap”, which in layman’s terms means there are no jobs lost. Even at the highest levels of the company, all six of W.A.Ellis’ equity partners have been integrated and Lucy will herself sit on the residential board at JLL. In fact, nothing gets the chop for the moment and Lucy is adamant: “It is part of the way we do business and we need to do what is right for our clients as the business evolves.” Still trying to taunt, I mention some might try to paint the market as a similar one to the brewery business, dominated by the likes of InBev and SABMiller, where value added is lost as huge fish gobble up huge fish simply to increase market share. “Yes, I’m aware of those arguments but JLL is not about being the biggest; that’s not part of our ethos. It’s about only ever growing into areas we can be the best in,” Andrew replies. Digging further at the roots of the talks that led to the merger, I manage to extract from Andrew the fact that “it took longer than six months but less than a year. It’s not that it’s sensitive; it just took a while getting the jigsaw to fit when it came to detail.” Lucy admits to being initially worried about how everybody would respond. “We had kept it all under wraps for so long and our office is full of people we consider ‘lifers’. Whilst I knew it wouldn’t be a problem because I’d briefed them all one-on-one, I didn’t honestly know how positively it would be received when it came to the group announcement.” She needn’t have worried; everybody whooped and cheered. “I’m excited as well,” Lucy highlights. “We have so much talent in the Brompton Road office. So if I’m going to be on more planes in the future, I’ve no doubt our Brompton Road office staff will too. We have a lot of genius to export!” Just when I think Andrew might banish Pangloss from the room, he urges me to remember, “Since the merger between King Sturge, JLL’s residential business has grown by more than 100 per cent. Introducing W.A.Ellis will of course boost that growth, but whilst this sounds impressive in financial terms, I find what it provides for our clients (a broader service) and the doors it opens for us to be the most important benefits of the merger.”

“The merger is not about being the biggest. It’s about only ever growing into areas we can be the best in”

jll.co.uk/residential waellis.co.uk

THE CITY MAGAZINE | November 2014

139

Rutland Gate, Knightsbridge SW7 • 3 Bedrooms

• Communal gardens

• Bathroom (en suite)

• Porter

• Shower room

• Lift

• Drawing room

• Approx. 1,333 sq ft (123 sq m)

• Kitchen

• EPC rating: current (E) potential (E)

“ A lateral fourth floor penthouse in this impressive stucco fronted building overlooking stunning communal gardens”

Guide price £3,795,000 Share of freehold

For more information call Simon Godson on 020 7306 1610 or email sgodson@waellis.com JSA Strutt & Parker 020 7235 9959

W.A.Ellis LLP 174 Brompton Road London SW3 1HP

waellis.com

Hanover Street, Mayfair W1 • 3 Double bedrooms

• Fully fitted kitchen

• 2 Bathrooms (en suite)

• Roof terrace

• 1 Shower room (en suite)

• Approx. 1,757 sq ft (163 sq m)

• 2 Reception rooms

• EPC rating: current (C) potential (C)

“A spectacular, newly refurbished penthouse apartment in this premier location in the heart of Mayfair.”

£2,950 per week Furnished

For more information call Karen Carpmael on 020 7306 1630 or email kcarpmael@waellis.com

W.A.Ellis LLP 174 Brompton Road London SW3 1HP

waellis.com

W.A.Ellis will make an initial one-off tenancy agreement charge of £240 per tenancy plus £60 referencing charge per tenant. A minimum of six weeks’ rent will be required for all properties. For further details of our services and charges please visit waellis.com

| HOMES & PROPERTY |

INVESTMENTS

Development activity continues to escalate in London’s residential market Diana Alam, Head of Development Sales and City Residential Office

Research suggests that buyers have become more discerning throughout the summer. Why do you believe this is so? And what does it mean for the market? In my opinion, the summer period is not the best time to comment on the property market as active investors and buyers are, in general, less committed due to obvious reasons. I presume property can remain on the market for a longer period of time hence buyers will have more choice. It means very little for the market as the activity since September has once again been extremely buoyant with a huge amount of interest in the new build sector. Launches this autumn include The Ram Quarter in Wandsworth, Principal Tower in EC1, Stratosphere in Stratford and Mettle & Poise in Hackney, to name just a few. But regardless of the number of schemes on the market, investors are out in force and with the growth probability in London and the UK, there is little reason to focus elsewhere. What’s the main reason many developers now favour ‘Outer Core’ locations compared to ‘Core’ or Prime Central London? As London remains a globally attractive City, affordability in London is strained for a number of potential purchasers and it is widely documented that a number of first time buyers will find it extremely difficult to make their first property purchase if they are considering prime and core areas in London. Due to this, developers are looking at areas that may have previously been considered less productive as the demand will still be there from a price point alone. These areas should be considered as growth regions where developers will attract the first time buyers as well as investors. JLL’s latest Central London Development Market update discusses the London residential market in detail and can be downloaded from our website.

The Ram Quarter in Wandsworth

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JLL 020 7337 4004 residential.joneslanglasalle.co.uk/research

Know place like home.

Hop House, Covent Garden Prices from £725,000

Stukeley Street, Covent Garden Prices from £750,000

Buckingham Street, Covent Garden Prices from £797,500

Dean Street, Soho Prices from £995,000

Living in central London offers a buzz like no other. World class restaurants, 24 hour entertainment, and beautiful homes in the middle of it all. To find out why the vibrant heart of the West End is the best place to make your home, call us or visit our website.

Images are CGIs and for indicative purposes only. Prices are correct at the time of going to print.

cbre.co.uk/londonhomes +44 (0)20 7420 3050

Beckenham 020 8663 4433 Bromley 020 8315 5544

Sidcup da14

Chislehurst 020 8295 4900 Locksbottom 01689 882 988

Orpington 01689 661 400 West Wickham 020 8432 7373

Guide price £1,500,000 F/H

The Old House is a beautifully presented and comprehensively renovated five bedroom Grade II listed property with immense charm and character. There is a large Victorian Coach House with the opportunity for a conversion into a self contained annexe, large front drive and double garage. Well positioned for transport with Sidcup station offering frequent services into London Bridge, Waterloo East and Charing Cross (approx 18 mins). Energy Efficiency Rating E.

Please contact our Chislehurst office for more information: Tel: 020 8295 4900 Email: chislehurst@langfordrussell.co.uk

kEsTon BR2

£1,695,000 F/H

wEsT wiCkHam BR4

£799,995 F/H

Fantastic family home with generous accommodation built approx 13 years ago. Comprising impressive through reception, 25ft fitted kitchen/breakfast room, study, shower room, utility room, galleried landing, five bedrooms, three en-suites and games room. The rear garden is flanked by an array of mature trees with a large patio area leading to the lawn. Off street parking and double garage. Energy Efficiency Rating D.

Ideally located for both highly regarded primary and secondary schools, this substantial four bedroom home offers deceptively ample living space for the growing family. The property comprises spacious lounge overlooking a beautiful garden, large dining room, kitchen/breakfast room and downstairs cloakroom. To the front is off street parking for numerous cars. Energy Efficiency Rating F.

Please contact our Locksbottom office for more information: Tel: 01689 882 988 Email: locksbottom@langfordrussell.co.uk

Please contact our west wickham office for more information: Tel: 020 8432 7373 Email: westwickham@langfordrussell.co.uk

The Acorn Group, incorporating:

langfordrussell.co.uk

Bickley Road - BR1 2NF

SHOW HOME AVAILABLE TO VIEW BY APPOINTMENT Located in the heart of the popular and picturesque suburb of Bickley, Widmore Place is a collection of four luxury detached homes. Each house has been designed and finished to the highest of standards with careful consideration given to the living space, whilst being sympathetic to its surroundings. Nestled between Bromley and Chislehurst, providing a sense of escape from the hustle and bustle of city life while remaining a short commute to Central London. Price on application. • Detached Houses • Four & Five Bedrooms • Garage/Driveways • Luxurious Bathrooms

For further information please contact: 020 8295 4900 www.acornnewhomes.co.uk/widmoreplace

• Bespoke Kitchens • En-suites to Master & Guest Suites • Underfloor Heating • NHBC Warranty

Developed By:

Selling Agent:

| HOMES & PROPERTY |

LOCATION AND LUXURY Enviably positioned between Bromley and Chislehurst, Widmore Place is a collection of four luxury detached homes, including The Hop House, Huntsman House and Barleyside. The development’s jewel in the crown is The Bewick; the conversion of a Grade II Listed building previously known as The Widmore public house, which has over 200 years of history. Each home has been individually designed and finished to the highest of standards, offering either four or five double bedrooms. Consideration has been given to the living space, whilst being sympathetic to the development’s surroundings. Widmore Place is simply a unique opportunity to own a luxury home in the heart of Bickley. From professionally-designed layouts to the superior specification, each element has been thoroughly thought out and overseen by renowned local developer McCulloch Homes.

Prices from £1,295,000 Freehold

Widmore Place, BR1 020 8295 4900 langfordrussell.co.uk

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THE CITY MAGAZINE | November 2014

Capital Wharf, West Wapping E1W ea2 are pleased to be able to show you this bright 2 bedroom 2 bathroom apartment with stunning River views from the balcony on the second floor within The second bathroom is also an en-suite in the second bedroom, bedroom. Wooden floors throughout and has cloak room. 24 hour concierge and use of residents gym. Secure underground 2 double 2 storey house set within thisa separate gated CCTV development. The property has been fully modernised toparking. include Closeglazing, to transport links to canary wharf wood and the floors, city. double replacement ceilings, , alarm, central heating system operated via remote control, smart phone or

this sought afterTerrace, development.Wapping The master bedrooms Wellington E1Wen-suite comprises of a 4 piece bathroom suite.

internet. Lounge. Fully fitted kitchen. Double bedrooms with fitted wardrobes. Garden. Secure Underground parking space. Potential to extend into the loft subject to planning permission. Close to Wapping station and local amenities.

£695,000 £1,175,000

Spirit Quay, West Wapping E1W Ea2 are pleased to show you this 2 bedroom duplex apartment located along the ornamental canal in picturesque and tranquil West Wapping. It is double glazed and both bedrooms are a good size. Easy access to both Canary Wharf and the City. Close to Waitrose, Tower Hill and Wapping stations and all Tudor House,Tower Bridge, SE1 other amenities. An easy stroll to the restaurants and bars in the popular St Katherine’s Dock. Secure parking in this gated development.

6th floor luxury 2 Double Bedrooms, 2 Bathrooms, Open Plan Reception Room, large balcony. Master bedroom with en-suite and walk in wardrobe. Modern Integrated Kitchen, Balcony, 24 Hour Porter by Harrods Estates, Residents Gymnasium, Swimming Pool, Lifts to all floors. Close to Local Shopping Facilities, Walking Distance to London Bridge.

£1,595,000

£650,000

Hermitage Court, West Wapping E1W ea2 are pleased to be able to present this stunning property in a highly sought after development. Boasting 2 double bedrooms and 2 bathrooms, a larger than averageMews, ReceptionWapping room, situated on the 1st floor with lift access and a private south/West Balcony. This light and airy apartment is both spacious and£1,300 per week Roding E1W has are beenpleased decorated a very Thethis block benefits from a concierge underground parking.This property is a ea2 totobe ablehigh to standard. show you 6 further bedroom 4 bathroom houseandforsecure rental with a garden. Close to St Katharine’ s Dock and Tower Hill station. very unique property and has views over the canal. Would suit 6 professional people. Close to Tower Hill and Wapping Overground and close to Waitrose.

£600 per week

New Crane Wharf, Wapping E1W Panoramic views of the widest part of the upper Thames towards Canary Wharf. This apartment, of exceptional size. Approx. 800 sq ft is set on the 1st floor of this popular warehouse conversion in the heart of Wapping. The apartment has retained many original features including; loading bay doors & Cascades Tower, Docklands E14 exposed brickwork, New Crane Wharf also benefits from secure car parking and 24 hour concierge. Furnished. Timber flooring. Secure underground 2 double bedroom, 2 bathroom 11th floor apartment within this secure modern development. Comprising a reception parking.

room with water/ City views, fitted kitchen, master bedroom with walk-in wardrobe & en suite bathroom, additional shower room. Balcony. Swimming pool, Gymnasium & Tennis court. Concierge.

£500 per week £395 per week

122 Newgate Street London EC1A 7AA

T: 020 7600 0026 W: www.scottcity.co.uk e: property@scottcity.co.uk

7 High Holborn, London WC1 £1,850,000 Located only a minutes’ walk away from Holborn Viaduct and Hatton Garden. This spectacular THREE-BEDROOM apartment has SOLID WOOD FLOORING throughout, with the exceptions of the new carpeted bedrooms and tiled bathrooms. The kitchen is FULLY FITTED with modern appliances and high quality GRANITE WORK SURFACES. The property also features a fantastic South and East facing Balcony, DAY CONCIERGE and secure underground PARKING. CHANCERY LANE TUBE station is next door to Seven High Holborn.

Fleet Street, EC4 £270 Per Week

WEST SMITHFIELD, EC1 £395 Per Week

This portered residential development just off Fleet Street, hosts this STUDIO APARTMENT situated on the third floor of the building and offers Entrance Hall, Studio Room, Bathroom and compact Kitchen with a communal laundry room. AVAILABLE NOVEMBER.

This 395 sq ft. ONE BEDROOM apartment offers a fully fitted kitchen and is finished with very high. The building has 24 Hour Concierge. AVAILABLE NOVEMBER.

Barbican, EC2 £525 Per Week

Barbican EC2 £550 Per Week

This wonderful DUPLEX ONE BEDROOM apartment with large barrel vaulted ceilings. The apartment is offered fully furnished with modern contemporary furnishings. Other key features of this amazing flat include is large roof terrace. AVAILABLE NOW.

This spacious TWO BEDROOM fully furnished property, with a fully fitted kitchen. Other key features include lift access to all floors and a DAY CONCIERGE. AVAILABLE NOW.

Opening doors in London since 1856 From the moment you walk through one of our doors, you’ll only deal with someone who lives and breathes your local property market. Someone who knows exactly which buttons to press to sell or let your home. And someone who understands that determination and integrity will open more doors for you than any other approach. So why not visit one of our 22 London offices? As we’ve been saying since 1856, our door’s always open...

marshandparsons.co.uk

Londonâ&#x20AC;&#x2122;s Finest Properties

We are commited to the highest levels of customer satisfaction and professional excellence

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Find your nearest LIFE branch Head Ofﬁce Unit 2, Portal West Business Centre 6 Portal Way London W3 6RU +44 (0)20 8896 9990

Nine Elms - Riverside Unit 11 Flagstaff House St. George Wharf London SW8 2LZ +44 (0)20 7582 7989

Canary Wharf 10 Indescon Square Millharbour London E14 9EZ +44 (0)20 3668 1030

North London Unit 4 71b Drayton Park London N5 1BF +44 (0)20 7359 4488

County Hall 252 Westminster Bridge Road London SE1 7PD +44 (0)20 7620 1600

Tower Bridge - City Spice Quay 34 Shad Thames London SE1 2YG +44 (0)20 7234 0666

Deptford Block A Hudson Building Deals Gateway Blackheath Road SE10 8EA +44 (0)20 8692 2244

Westminster 23 Monck Street London SW1P 2AE +44 (0)20 7222 2005

Ealing 32 -38 Uxbridge Road, Ealing London W5 2BS +44 (0)20 8418 3737 East London Unit B Westgate Apartments 14 Western Gateway London E16 1FD +44 (0)20 7476 0125 Greenwich 6 Victoria Parade Greenwich London SE10 9FR +44 (0)20 8418 3609

Whitehouse - Waterloo Downstream Building 9 Belvedere Road London SE1 8XZ +44 (0)20 7928 7007 Hong Kong 1508, 1 5/F, 100 QRC Queen’s Road Central Hong Kong +852 2644 0268 Singapore 1 Rafﬂes Place 19-61 One Rafﬂes Place Tower 2 Singapore 048616 +65 6808 5802

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Asquith_A4_Mag_FPC 15/10/2014 09:25 Page 1

T E EN US M O H PEN INT W O PO O SH OW Y AP N B G IN

SPENCER PARK LONDON SW18

4 Magnificent 6 bedroom Homes each with private gated access into the Secret Garden of Spencer Park

The Secret Garden of Spencer Park

A prestigious gated development of four magnificent homes, each over 4,500 sqft, with bespoke specifications throughout. Each home has its own direct garden access into the little known Spencer Park - nearly 4 acres of privately owned and managed parkland with tennis court, playground and rose gardens, an exclusive safe sanctuary and retreat for residents and their familyâ&#x20AC;&#x2122;s use only. Prices from ÂŁ4.95m For further information and private viewing arrangements please contact:

A development by:

020 8877 1222 rchatwin@savills.com

020 7228 7474

austin@john-thorogood.co.uk

The Plimsoll Building at King’s Cross edroom o and three b tw f o e as le re Final 0 om £1,060,00 apartments fr ent’s Canal; across the Reg s ew vi r la cu courtyard, With specta a landscaped nd ou ar s ie s balcon residents’ room terraces and ivate gym and pr e, rg ie nc co ace. a dedicated and gallery sp conservatory p to of ro a d an : Contact us on s.co.uk gs ingatkin cros enquiries@liv 91 3969 or call 020 36 oss.co.uk plimsollkingscr

to the Gasholder soll Building through A view from the Plim London beyond Regent’s Canal and No. 8 urban park, the

Visit our Marketing Suite and Show Apartment, 14–15 Stable Street, King’s Cross, London N1C 4AB

City Magazine_Ad_297x210_Garden_AW.indd 1

www.kingscross.co.uk

14/10/2014 15:18

WESTMINSTER LUXURY ON A GRAND SCALE

Great Minster House is a collection of large, bespoke residences finished to the very highest standards. Set foot inside the grand lobby and enter a world of Edwardian-inspired splendour, where opulent apartment interiors lie behind every door. Complemented by a concierge and various car parking options,* Great Minster House represents the last word in a London lifestyle utterly free of compromise, and offers a rare opportunity to reside in one of London’s most exclusive locales. Buying from Barratt London means no unexpected costs for the first five years under our industry leading 5 Year Warranty.† It also means peace of mind from our in-house property management company who are on hand to take care of your home’s surroundings long after you’ve moved in.

Prices from £995,000 to £3,250,000

Aldgate

Brentford

Edgware

Fulham

Greenwich

Hendon

Highbury

Lewisham

Rotherhithe

Royal Docks

Soho

Westminster

Computer generated images are for illustrative purposes only. Images include optional upgrades at additional cost. *Car parking options only available to select apartments, by separate negotiation. All information in this document is correct to the best of our knowledge at the time of going to press. †Our 5 Year Warranty is available on virtually all of our developments and properties. Please speak to one of our Sales Advisers for further details. The warranty extends the purchaser’s 2 year NHBC non-structural Buildmark Policy to 5 years. Terms and conditions apply. See website for full details of what is included and excluded under this warranty. Your statutory rights are unaffected.

Connected like no other

A world class address in the heart of London 190 Strand offers a range of bespoke apartments, townhouses and penthouses in the heart of London. Located on the world-famous Strand, a short walk from Covent Garden, the River Thames and the Capitals centres of finance and law, this new iconic landmark is positioned to enjoy the richest aspects of London living.

Contact us for your personal appointment. Call 020 3553 7048 St Edward Executive Sales & Marketing. Open daily 8am to 6pm (Thursdays until 8pm). 375 Kensington High Street, London, W14 8QA

www.190strand.co.uk

Proud to be a member of the Berkeley Group of companies

Prices correct at time of going to press and subject to availability. Computer generated image depicts 190 Strand.

1 bedroom apartments from £1,225,000 2 bedroom apartments from £2,160,000 3 bedroom apartments from £3,202,500

DISCOVER | EXPLORE|CONNECT

Computer-generated images are indicative only

DISCOVER LONDON DOCK Situated just moments from Tower Bridge, the Tower of London, St Katharine Docks and the City, this exciting new destination offers a stunning range of high specification apartments, with hotel-style residents’ facilities and 24 hour concierge, beautifully landscaped public spaces, shops, bars and restaurants. 1, 2 AND 3 BEDROOM APARTMENTS AVAILABLE FROM £719,950* DISCOVER MORE | LONDONDOCK.CO.UK | 020 7971 7880 | SALES@LONDONDOCK.CO.UK SHOW APARTMENTS & MARKETING SUITE, PENNINGTON STREET, LONDON E1W 2AD

www.stgeorgeplc.com Proud to be a member of the Berkeley Group of companies

*Prices correct at time of going to press

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| HOMES & PROPERTY |

Development SHOWCASE

PRESTIGE PARK Luxury London developer Landview Properties has launched Asquith, Spencer Park, a collection of four six-bedroom, stucco-fronted houses in Wandsworth. Each property spans over five floors and 4,500 square feet of living space. Inspired by the magnificent homes of Regents Park, Asquith, Spencer Park, also boasts private access to the exclusive 3.8-acre gardens of Spencer Park. The area is increasingly popular with celebrity residents, many of whom reside in the 26 houses that surround the illustrious parkland. Furthermore, Asquith, Spencer Parkâ&#x20AC;&#x2122;s location means residents are well connected and within walking distance of Clapham Junction station, providing trains into Waterloo in around 10 minutes. Clapham South tube station is a 30-minute walk away and allows residents to be in the City in just 20 minutes.

Prices start from ÂŁ4.95 million

Savills 020 8877 1222 savills.com

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TOWER TOWER VIEW VIEW LONDON LONDON TOWER VIEW 84 84ST STKATHERINE’S KATHERINE’SWAY, WAY,LONDON LONDON E1W E1W1UL 1UL

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Tower View London is a bespoke development of just five beautifully designed apartments and one stunning penthouse with world class views of Tower Tower View London is a bespoke development of just fivebeautifully beautifully designed designed Tower TowerView View London London aabespoke bespoke development development five five beautifully designed Bridge and theisis City skyline, located adjacent of toofjust Stjust Katherine’s Dock in Wapping apartments and one stunning penthouse with world class views of apartments apartmentsand andone onestunning stunningpenthouse penthousewith withworld worldclass classviews viewsofofTower Tower Tower Bridge and the City skyline, located adjacent to St Katherine’s Dock in Wapping

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Prices from £2,950,000 tofrom £5,950,000 Prices £2,950,000 Prices Prices from from £2,950,000 £2,950,000 to £5,950,000 toto£5,950,000 £5,950,000

Prices Prices from from £2,950,000 £2,950,000 to to £5,950,000 £5,950,000