LOCAL VIEW
Hampstead | Islington | St John’s Wood
Issue 2 2012
WELCOME Welcome to Local View 2012. In the pages that follow, we hope to give you an insight into the unique London property market and showcase a selection of the most beautiful London properties currently for sale and to rent with Knight Frank. The London market has performed surprisingly well during the first half of the year, despite the economic uncertainty that persists in the Eurozone and in many of the wider, global markets. The capital became the focus of the world during our Great British Summer and our London offices experienced a surprising level of activity throughout most of this period. Looking ahead, there appears to be a two stream market divided by the £2m stamp duty threshold. Below this level, the market is active, whilst above the threshold the market is patchy. The continued uncertainty surrounding how properties owned in company names, or bought by ‘non-natural persons’, will be treated, has put some Prime and Super Prime buyers into ‘wait and see mode’ until the government’s consultation document is released at the beginning of December 2012. Despite this, London continues to attract interest from overseas investors, and the capital remains the number one destination in which to live, in the minds of many individuals from around the world. Knight Frank has continued to invest in its network, both in London and overseas. We have opened new offices in Islington and Marylebone, and the Riverside team has moved to a spectacular office at Albion Riverside. The team now covers the Battersea sales and rental markets. Overseas we have opened offices in Dubai, Qatar, Calcutta and South Africa, thus extending our reach to capture buyers and tenants from around the world. I trust you will enjoy reading the articles contained within this edition of Local View and leafing through the many pages of wonderful properties that our clients have asked us to find buyers or tenants for. If you see any properties that interest you or if you would like advice on any property matter then please do not hesitate to get in touch with any one of our offices.
Noel Flint Head of London Residential noel.flint@knightfrank.com
This Local View is one of a series of five publications covering the London area. To view and download a PDF or request a hard copy please visit KnightFrank.com/Publications Cover image: New End, see page 9
21
CONTENTS
16
35
4 London Market Overview 6 Hampstead 18 Islington 30 St John’s Wood 42 Knight Frank Service Directory 43 Knight Frank Office Directory
13
33
LONDON SALES MARKET
4
LONDON SALES MARKET SALES MARKET BY NUMBERS
Prime central London prices rise by
0.7% in September
Monthly growth pushes annual rise to
10% Quarterly pace of growth slows to
1.7%
September saw another month of positive growth in the prime central London residential market. Prices have now risen 51% since the post-financial crisis low in March 2009.
Average prime property values in central London now stand at a new record high, some 15% above their pre-crisis peak in March 2008.
The sub £2m bracket is also where price growth has been strongest, with an annual increase of 11.6%. Despite the weaker transaction volumes in the £2m-£5m bracket, the number of prospective buyers has been fairly evenly matched with available properties across all price bands. It is worth noting however that over the last six months, stock volumes have slowly begun to creep upwards, and are now around 10% higher than in September last year.
This growth in prices has taken place despite the impact of the March budget’s 40% rise in the top rate of stamp duty together with new, and still undefined, rules for an annual charge on £2m+ properties held in certain ownership structures and the reform of non-resident capital gains tax rules. But the budget tax changes have had an undeniable impact on activity levels in the market, with the volume of sales in the £2m-£5m sector falling 20% in the three months to September compared to the same period in 2011. Sales volumes above this bracket have been more robust, and there has also been a strong 23% rise in sales volumes for homes worth up to £2m.
London’s market performance continues to be aided by overseas buyers, who account for 41% of buyers in the £1m+ prime London sector, and more than 50% of buyers in the £2m+ market. This overseas demand is driven by Russian, Indian, Italian, US and French buyers – reflecting the diversity of the market.
Residential price change, indexed from March 2009
Top 10 buyer nationalities, 2012
The overseas demand is driven by Russian, Indian, Italian, US and French buyers – reflecting the diversity of the market.
150.0 145.0 140.0
UK
58.9%
Russia
4.3%
India
3.6%
125.0
Italy
3.5%
120.0
US
3.3%
France
3.2%
105.0
UAE
1.8%
100.0
Australia
1.6%
China (inc Hong Kong)
2.4%
Greece
1.3%
135.0 130.0
115.0
Prime central London UK
Jun-12
Dec-11
Mar-12
Jun-11
Sep-11
Mar-11
Dec-10
Jun-10
Sep-10
Mar-10
Dec-09
Jun-09
Sep-09
Mar-09
110.0
LONDON RENTAL MARKET
5
LONDON RENTAL MARKET RENTAL MARKET BY NUMBERS
Prime London rents fall
0.1% in September
Annual rental values fall
2.3% on an annual basis
Flats marginally outperform houses - falling respectively
2.0%
and
3.1%
over the past year
Like sales prices, prime rents have recovered rapidly since the market downturn in 2008-09, and are now nearly 25% higher than they were in mid-2009. Unlike capital values, rents hit a ceiling in October 2011 and have since declined, albeit marginally, by 2%. The main factor weighing on rents has been the state of the London economy. A bounce in activity in 2010 and 2011 saw London’s gross value added (GVA) measure of economic activity climb by an annual 1.9% and 1.7% respectively. But by the end of 2011 the economy was slowing as the Eurozone crisis put downward pressure on growth, confidence and recruitment, and the current estimate for London’s fullyear 2012 GVA growth stands a little below 1%. This weakness can be seen in data from Morgan McKinley, which confirmed that in terms of new employment vacancies in central London, 2012 is far underperforming the picture seen in both 2010 and 2011. The figures show that 2012 is in fact running a close race with 2009 to be the worst year for new vacancies since Morgan McKinley started recording this data in 2004. As a result we shouldn’t therefore be too surprised that rents have moved down over the past nine months.
But while rents may be performing below trend, activity has risen, with new lettings volumes in the first half of 2012 22% higher than the same period in 2011 in prime central London. This increase in activity reflects a broader shift in favour of the rental sector across the UK, due to the lack of mortgage market funding for new entrants in the owner-occupier market. For landlords this trend should permit above-inflation rental rises over the medium term, potentially helping to halt the long-term decline in income returns on prime residential investment. While gross yields of 3.5% have become more common in central London, investors’ attention is on total returns, which have averaged 11.4% annually over the last three years.
Annual growth in prime central London rents
Annual capital growth and average annual net income returns, prime central London
20.0%
40.0%
15.0%
30.0%
10.0%
20.0%
5.0% 0.0% -5.0% -10.0% -15.0% -20.0% -25.0%
2008
2009
2010
2011
2012
10.0% 0.0% -10.0% -20.0% 97 98 99 00 01 02 03 04 05 06 07 08 09 10
11
HAMPSTEAD
HAMPSTEAD AREAS COVERED NW3 N2 N6 NW5 NW6 NW11
Best known for: Hampstead Heath, Kenwood House, hill-top position, an abundance of large detached mansions, literary alumni and a bohemian vibe. Boroughs: London Boroughs of Camden, Barnet and Haringey Area: Hampstead and Highgate overlook London from their lofty hill-top position and offer residents the country lifestyle, while being in sight of the City. Steeped in history, the area has numerous intellectual, artistic, musical and literary associations – from John Keats and George Orwell to Ridley Scott and George Michael. Schooling is also excellent with junior schools such as Devonshire House, The Hall, St Anthony’s and senior schools such as UCS, South Hampstead, Highgate and Channing. Social and cultural attractions: The area is home to The Freud Museum, Keats House, Kenwood House, Fenton House, The Isokon Building, Burgh House and the Camden Arts Centre. There are also many highly-regarded restaurants, gastropubs and bars alongside four theatres and a cinema. A series of openair concerts take place in the summer at Kenwood. Sports and leisure facilities: Hampstead Heath is one of London’s most popular open spaces and a great spot for summer picnics and days out with friends. It has three outdoor public swimming ponds and its vast green spaces offer a beautiful setting for runners. Sports enthusiasts can join a range of clubs, from skittles and golf to tennis and rugby. And kite flying on Parliament Hill is a particular attraction. Our favourite places: The Wells, an excellent gastropub; Villa Bianca, for fabulous Italian food; The Holly Bush, a well-renowned pub; and Jin Kichi, a popular Japanese restaurant.
Getting around: Hampstead, Belsize Park, Finchley Road, Swiss Cottage Hampstead Heath, Finchley Road, Frognal
7
8
hampstead SALES
SALES OVERVIEW
SALES BY NUMBERS
The market: All sales over £2m are that little bit harder to agree and harder to get over the line. However, properties in this bracket remain desirable, especially low-built houses with south west facing gardens. Our outlook: Sensible pricing is key at present. Buyers are very sensitive as they have to budget for a further 7% in stamp duty (for properties above £2m) and as this money is neither invested nor recoverable, they wish to spend it wisely. Who buys here: Literati are still being bought out by businessmen. Neither have as much money as they used to and 7% stamp duty doesn’t help.
25%
of our sales in the last 12 months were priced under £1.5m
We have
359
potential buyers on our books looking to spend a collective total of £2.25bn
Fitzjohns Avenue NW3
Our team in action:
We have sold 12 of the last 13 apartments within Mount Vernon, NW3 and currently have the 12th and 13th sales under offer at de Laszlo House (pictured above) where only five units remain. In the prime market, evidence of the impact of correct pricing is clear.
SALES INSIGHT
“We have seen a surge in demand for properties below £2m and vendors should be wary of overpricing unmodernised property. Fitzjohns Avenue is a hotspot where recent upgrades to the housing stock have been appreciated by the market.” Grant Alexson Head of Sales
The average international buyer spends
£4.8
m
hampstead SALES
New End
Exceptional space in the perfect place A truly exceptional Village property that has been painstakingly rebuilt in a contemporary style and to an extremely high standard within this Grade II listed building.
HAMPSTEAD NW3 Share of freehold Guide price: ÂŁ5,500,000
4 bedrooms, 4 bathrooms, 2/3 reception rooms, large communal gym, private garden, secure gated parking. Approximately 300 sq m (3,231 sq ft)
020 7431 8686
hampstead@knightfrank.com
KnightFrank.co.uk/Hampstead
9
10
hampstead SALES
Frognal Rise
Ground floor two bedroom apartment Offered for sale is this superb ground floor apartment located in Hampstead’s premier development Mount Vernon, extending to just under 1,200 square feet. 2 bedrooms, 2 bathrooms, 1 reception room, leisure facilities, swimming pool, patio/terrace, porter/concierge, private parking. Approximately 110 sq m (1,180 sq ft)
HAMPSTEAD NW3 Share of freehold Guide price: ÂŁ1,650,000
hampstead SALES
Redington Road
Imposing new build double fronted detached house An imposing double fronted detached home with an 85ft garden and swimming pool, located on one of Hampstead’s most prestigious roads between the fashionable Village centre and Hampstead Heath.
HAMPSTEAD NW3 Freehold Guide price: ÂŁ8,950,000
5 bedrooms, 4 bathrooms, 4 reception rooms, garden, swimming pool, private parking. Approximately 638 sq m (6,864 sq ft)
020 7431 8686
hampstead@knightfrank.com
KnightFrank.co.uk/Hampstead
11
12
hampstead LETTINGS
LETTINGS OVERVIEW
LETTINGS BY NUMBERS
The market: The cobbled streets and café culture make it one of the most sought after postcodes in London. Applicant numbers remain strong but the amount of stock on the market is 86% higher than in October 2011. Our outlook: While rental growth has slowed this year, and in some price brackets decreased, we predict that the demand for properties will stay strong in 2013 as renting remains a popular option. Who rents here: Hampstead is a trendy and safe neighbourhood and as such attracts a wealth of celebrities and international families alike.
Hampstead
NW3
73%
of our tenancies this year have been under £1,000 per week
86%
more stock on the market in NW3 in Sept 2012 than Sept 2011
Our team in action:
We have successfully negotiated a sole-agency agreement with a North London Premiership football club and are now their agent of choice when searching for property in Hampstead. We have successfully housed two new players and the assistant manager in the past two months.
LETTINGS INSIGHT
“The most exciting emerging hotspot is England’s Lane in Belsize Park – a lively, vibrant street with cafés, restaurants and a quality pub, just a short walk from Primrose Hill. We have seen a surge in demand for one and two bed flats up to £750 per week.” Greg Bennett Head of Lettings
39%
of our applicants are looking to spend between £500-£750 per week
hampstead LETTINGS
Well Walk Spacious garden apartment HAMPSTEAD NW3
A stunning garden apartment located on one of the finest streets of Hampstead Village. 3 double bedrooms, 2 bathrooms, reception room with gas log fire and French doors, eat-in kitchen, separate utility area, landscaped garden, parking space for 1 car.
Available furnished or unfurnished Guide price: ÂŁ1,250 per week
Approximately 116 sq m (1,243 sq ft)
020 7431 8686
hampsteadlettings@knightfrank.com
KnightFrank.co.uk/Hampstead
13
14
hampstead LETTINGS
East Heath Road
Period property with commanding views A newly refurbished period conversion on the Heath with breathtaking views. Master bedroom with en suite bathroom, second double bedroom, separate shower room, reception room, separate kitchen. Approximately 81 sq m (876 sq ft)
HAMPSTEAD NW3 Available furnished or unfurnished Guide price: ÂŁ650 per week
hampstead LETTINGS
Fellows Road Contemporary townhouse
BELSIZE PARK NW3
A modern townhouse in Belsize Park with parking. 3 bedrooms, 2 bathrooms, large reception room, modern kitchen, spacious media room/playroom, utility room, study, private garden, driveway for 1 car.
Available unfurnished Guide price: ÂŁ950 per week
Approximately 151 sq m (1,620 sq ft)
020 7431 8686
hampsteadlettings@knightfrank.com
KnightFrank.co.uk/Hampstead
15
hampstead SALES
16
Gayton Road HAMPSTEAD NW3
Mount Vernon Guide price: £1,895,000
SOLD
HAMPSTEAD NW3
Guide price: £2,500,000
SOLD
Spaniards Road
Hampstead Grove
HAMPSTEAD NW3
HAMPSTEAD NW3
Guide price: £3,000,000
SOLD
Guide price: £5,750,000
SOLD
Hollycroft Avenue
The Bishops Avenue
HAMPSTEAD NW3
HAMPSTEAD N2
Guide price: £5,950,000
SOLD 020 7431 8686
SOLD hampstead@knightfrank.com
KnightFrank.co.uk/Hampstead
Guide price: £9,500,000
HAMPSTEAD LETTINGS
Upper Hampstead Walk Belsize Avenue HAMPSTEAD NW3
Guide price: £575 per week
LET
Gardnor Mansions Guide price: £995 per week
LET
LET
HAMPSTEAD NW3
Guide price: £1,050 per week
LET
Frognal HAMPSTEAD NW3
Guide price: £825 per week
LET
Grove Place HAMPSTEAD NW3
BELSIZE PARK NW3
New End Guide price: £1,300 per week
HAMPSTEAD NW3
Guide price: £1,500 per week
LET 020 7431 8686
hampsteadlettings@knightfrank.com
KnightFrank.co.uk/Hampstead
17
ISLINGTON
ISLINGTON AREAS COVERED N1 N5 N7 EC1 WC1 N16 NC1
Best known for: Upper Street with its endless choice of restaurants and bars, high street shops and one-off boutiques. Its fabulous blend of garden squares, beautiful Georgian and Victorian terraces, excellent recreational areas at Highbury Fields, and vibrant and diverse selection of shops and restaurants to rival any of those across the capital. Borough: Islington Area: Islington is a wonderfully diverse area where you will find many different neighbourhoods such as leafy Canonbury and Barnsbury with its beautiful tree lined roads and squares, Highbury with its lovely traditional village-like feel, De Beauvoir town which is steeped in history and finally Angel with its close proximity to The City. Islington has something for everyone with some of the capital’s finest markets (Camden Passage, Exmouth Market, Chapel Market), sports and leisure facilities (including Highbury Fields) and of course the Emirates stadium (home of Arsenal Football Club). Social and cultural attractions: As well as theatres including the Almeida and Sadler’s Wells, Islington is home to The Estorick Collection which is an Italian modern art gallery. For evening entertainment, Islington has a large selection of pubs, bars and restaurants on and around Upper Street. The Angel centre on the high street combines shopping with restaurants, a cinema and a music venue, and for everyday groceries there is a good choice of supermarket chains locally. The Business Design Centre (formerly the Royal Agricultural Hall) is one of London’s iconic exhibition centres, playing host to over 80 exhibitions and 250 conferences every year, such as the London Arts Fair. Sports and leisure facilities: Highbury has an impressive 27.5 acres of open space at Highbury Fields with tennis courts and leisure centre. Islington is also home to the Arsenal football stadium which showcases music concerts as well as football matches. Our favourite places: Fredericks Restaurant for modern European cuisine; The Albion and The Canonbury pubs for great pub food; Browns restaurant and bar for delicious cocktails; Camden Passage for boutique shops and antique finds.
Getting around: Angel, Highbury & Islington, Arsenal Highbury & Islington
19
20
ISLINGTON SALES
SALES OVERVIEW The market: Islington ranks amongst the top performers in the number of transactions that take place, with an unrelenting demand throughout all price brackets. This eclectic and dynamic environment mostly attracts buyers from £300,000 to £4m. Our outlook: We envisage Islington to remain one of the key growth sectors within the London residential market, with demand increasing not just across London, but globally. Who buys here: A very desirable choice for many City workers, media executives and those who are location focused.
SALES BY NUMBERS On average we have achieved
98%
of the guide price on sales across our 19 London offices in the last 12 months Since we opened our doors two months ago, potential buyers from
20
different countries have viewed properties for sale through our website Our global residential search has more than
Our team in action:
We opened the doors to our new Islington office at the end of August this year. Our experienced team will take the time to understand what makes your home and its location special, so that we can find buyers and tenants who will feel as at home there as you do. To find out what we can do for you drop in to our office at 353 Upper Street.
SALES INSIGHT
“The biggest trend is the development of the area east of Islington, with services from Highbury & Islington to Canada Water now linking Canary Wharf via the East London Line extension. The redevelopment of the Kings Cross area includes 2,000 new homes and six new streets.” Daniel Omell Head of Sales
556,000 visitors per month from around the world
ISLINGTON SALES
Willow Bridge Road
An impressive four bedroom period house in this fabulous location A magnificent Victorian semi-detached house at the top of Willow Bridge Road, offering superb proportions over four floors and wonderful views over the surrounding neighbourhood. Master suite occupying the length and breadth of the house over the first floor, 3 further bedrooms, bathroom, 2 reception rooms, bespoke kitchen, utility room, air conditioning, conservatory, large secure parking area, mature rear garden.
CANONBURY N1 Freehold Guide price: ÂŁ3,500,000
Approximately 284.27 sq m (3,060 sq ft)
020 3657 7340
islington@knightfrank.com
KnightFrank.co.uk/Islington
21
22
ISLINGTON SALES
Gaskin Street
Fabulous loft style penthouse apartment in the very heart of Islington This unique property is entered via private gates into the inner courtyard and enjoys fabulous light throughout and views over Islington Green and east across the City. Master bedroom with en suite bathroom and balcony, 2 further bedrooms, bathroom, substantial kitchen/dining area, reception room, south west facing terrace, lift, secure parking. Approximately 274.89 sq m (2,959 sq ft)
ISLINGTON N1 Leasehold: approximately 987 years Guide price: ÂŁ3,250,000
020 3657 7340
islington@knightfrank.com
KnightFrank.co.uk/Islington
AREA
020 7349 4300
chelsea@knightfrank.com
www.knightfrank.co.uk/chelsea
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24
ISLINGTON LETTINGS
LETTINGS OVERVIEW
LETTINGS BY NUMBERS
The market: Levels of prospective tenants in Islington are currently very high but unfortunately the same cannot be said for stock levels across the whole of Islington. Islington certainly needs a surge of available stock to offer to our portfolio of tenants. Our outlook: We believe the buoyant market that is usually experienced over the summer months will come later in the year and October and November will be busy months in Islington. We currently have many corporate clients looking to move to the area. Who rents here: City professionals with great budgets looking for a prime property in the core Islington area.
We have in excess of
200
tenants looking for properties between £350 and £1,500 per week KnightFrank.com has been visited by people from
221 countries in the past 12 months
Corporate tenants and relocations exceed St Peters Street N1
Our team in action:
This beautiful house was on another agents’ portfolio for over two months and they received no offers. We were instructed to market the house alongside them. Within four days we had an offer from a professional couple from our Corporate Services department.
LETTINGS INSIGHT
“The biggest new trend in my market is overseas investors. The most exciting emerging hotspots are the areas surrounding City Road and Old Street where there are many new iconic developments being completed over the next couple of years.” Lauren Rapacioli Head of Lettings
85% of our tenancies
ISLINGTON LETTINGS
St Peter’s Street
Wonderful house only moments from Upper Street A stunning three bedroom house arranged over four floors which has been beautifully refurbished throughout and boasts many original features including original fireplaces in the reception room.
ISLINGTON N1 Available furnished Guide price: ÂŁ1,300 per week
3 double bedrooms, 2 bathrooms, double reception room, large kitchen/diner, utility room, mature garden. Approximately 181 sq m (1,945 sq ft)
020 3657 7360
islingtonlettings@knightfrank.com
KnightFrank.co.uk/Islington
25
26
islington LETTINGS
Highbury Square Former Arsenal Stadium
A wide selection of one, two and three double bedroom apartments in this exclusive development. Fully fitted kitchens, modern bathrooms and en suites with heated ceramic floors, timber veneered front doors, stainless steel ironmongery, heated timber laminate floors through the entrance hall and living space, carpeting throughout the bedrooms, 24 hour concierge service, secure parking (under separate negotiation).
HIGHBURY N5 Available furnished or unfurnished Guide price: ÂŁ355 - ÂŁ800 per week
ISLINGTON LETTINGS
Bezier, City Road In the heart of the City
Fourth floor two bedroom apartment facing to the side of the block in this outstanding new 24 hour portered development on the corner of Old Street and City Road. 2 bedrooms, contemporary bathroom suite, fully fitted kitchen, interior designed furniture package, porcelain flooring with under floor heating. The block also benefits from 2 communal terraces and a gym, sauna and steam room. Approximately 71 sq m (768 sq ft)
ISLINGTON EC1 Available unfurnished Guide price: £700 per week
Lamb’s Passage Stylish fifth floor apartment
Finished to a high standard, this stylish one bedroom apartment is available to rent in the smart No 1 Lamb’s Passage development in the heart of the City. 1 bedroom, bathroom with shower, modern fully equipped kitchen, wooden floors, air conditioning, interior designed furniture package.
ISLINGTON EC1 Available unfurnished Guide price: £430 per week 020 3657 7360
islingtonlettings@knightfrank.com
KnightFrank.co.uk/Islington
27
INTERNATIONAL CUISINE C/O UPPER STREET
WORLD CLASS DANCE PERFORMANCES C/O SADLER’S WELLS
GLOBAL EXPOSURE OF YOUR ISLINGTON PROPERTY C/O KNIGHT FRANK
ISLINGTON KNOWLEDGE WITH A GLOBAL REACH We know that when it comes to choosing an agent to sell or let your home you want to be confident that you have the very best team working for you. At Knight Frank we make sure that the process is handled with care and professionalism every step of the way. And with a network of 245 offices in the UK and around the world, we are ideally placed to match your property to the perfect buyer or tenant, whether they are in Moscow or Mayfair.
Knight Frank Islington - now open at 353 Upper Street, London N1 0PD Speak to our team now on 020 3657 7340 if you are thinking of selling or letting your home. You can also follow us on twitter @Islington_n1
st john’s wood
ST JOHN’s WOOD AREAS COVERED NW1 NW8 W9
Best known for: Abbey Road Studios, Lord’s Cricket Ground, Regent’s Park, The American School in London and the exclusive Avenue Road. Borough: City of Westminster Area: As well as St John’s Wood, which was one of the first parts of London to eschew Victorian terraces for large villas, we cover Primrose Hill, with its panoramic views and beautiful high street; Regent’s Park, where properties are of an outstanding scale and elegance; and Little Venice, which impresses with scenes of weeping willows, swans and brightly-coloured narrow boats. Social and cultural attractions: Regent’s Park is perfect for summer picnics and home to both London Zoo and an open-air theatre. For shoppers, St John’s Wood High Street has a village feel while being home to names such as Whistles and Joseph. Abbey Road Studios, where the Beatles shot their iconic Abbey Road album cover, attracts visitors from far and wide. Sports and leisure facilities: Lord’s Cricket Ground features a private gym, a cricket academy and historic ‘real tennis’ courts, while serious swimmers have an Olympic-size swimming pool in Swiss Cottage. Running, cycling, ball sports and boating all take place at Regent’s Park. Our favourite places: Lemonia, a family-run Greek restaurant; The Duke of York, a traditional pub; Oslo Court, for classic French cuisine; Harry Morgan, a New York style deli; and The Lansdowne Pub, a fabulous gastropub.
Getting around: St John’s Wood, Maida Vale, Regent’s Park
31
32
st john’s wood SALES
SALES OVERVIEW
SALES BY NUMBERS
The market: We are seeing an increasing number of international buyers as well as younger buyers. St John’s Wood is primarily a domestic, family market although international buyers have always been attracted here due to the American School and the mosque. Our outlook: We anticipate steady, reliable growth. Properties that are realistically priced will sell more quickly. Buyers in our area are educated about the market and it is a considered purchase for them, as they will be owner-occupiers rather than second home owners.
In the past eight months KnightFrank.co.uk/ St-Johns-Wood has been visited by people from
215 countries
Who buys here: Domestic and international families.
Every day our properties are viewed
897
times through our awardwinning website We have
Avenue Close NW8
Our team in action:
We advised our client to launch the property at a realistic price in order to create competitive interest. We received 13 offers and the final buyer completed quickly. The final sales figure was 44% over the asking price.
SALES INSIGHT
“The biggest new trend in my market is wealthy European buyers, especially from France and Italy. The most exciting emerging hotspot is the area next to Primrose Hill, East of Avenue Road, with extensive redevelopment.”
James Simpson Head of Sales
472
potential buyers on our books looking to spend a collective total of £4.42bn
st john’s wood SALES
RANDOLPH AVENUE
Beautiful garden flat in prime Little Venice Situated in this wonderful stucco fronted building, which is only a short walk from the amenities and shops of Clifton Road, lies this attractive maisonette with an extensive 53ft garden and its own private entrance. Master bedroom with en suite bathroom, 2 further bedrooms, bathroom, reception room, kitchen/breakfast room, utility room, guest cloakroom, conservatory, storage vault, garden.
LITTLE VENICE W9 Share of freehold: 93 years Guide price: ÂŁ2,600,000
Approximately 215.25 sq m (2,314 sq ft)
020 7586 2777
stjohnswood@knightfrank.com
KnightFrank.co.uk/St-Johns-Wood
33
34
st john’s wood SALES
Clifton Hill Six bedroom period house
This beautifully refurbished and well-proportioned period house is situated in a quiet cul-de-sac. 6 bedrooms, 4 receptions rooms, 5 bathrooms, private garden/patio terrace, garage, 1 off-street parking space. Approximately 386.1 sq m (4,156 sq ft)
ST JOHN’S WOOD NW8 Freehold Guide price: £6,950,000
st john’s wood SALES
Prince Albert Road Imposing six bedroom villa
Substantial interior designed stucco period villa located on the prestigious Prince Albert Road with front and rear gardens and off-street parking for several cars, set behind electric gates.
REGENT’S PARK NW1 Freehold Guide price: £14,950,000
6 bedrooms, 3 reception rooms, 5 bathrooms, swimming pool, garden, off-street parking. Approximately 557.4 sq m (6,000 sq ft)
020 7586 2777
stjohnswood@knightfrank.com
KnightFrank.co.uk/St-Johns-Wood
35
36
st john’s wood LETTINGS
LETTINGS OVERVIEW
LETTINGS BY NUMBERS
The market: British tenants are still populating St John’s Wood and the surrounding areas, closely followed by Americans. The market has been changeable this year and we seem to be in demand of the smaller properties ranging from £400 per week - £600 per week. Our outlook: Rents have decreased and for most of the year the market has been in favour of tenants. We definitely have plenty of available properties in every pocket of the market, so when the market turns we are confident we have the best properties to offer. Who rents here: Young professionals, families and students.
St Ann’s Terrace NW8
93% of our tenants are corporate tenants
22%
of our tenants come from the United States
Our team in action:
We pride ourselves on the quality of our service, keeping our clients coming back to us again and again. As one client commented: ‘I want to thank you so much for your hard efforts in such a difficult market and to say how impressed I have been by the way you look after your clients. I have to say as agents you are the top of my list for efficiency.’ Grazyna Green (landlord).
LETTINGS INSIGHT
“The biggest new trend in my market is one - two bedroom properties under £800 per week. The best thing to happen to the market would be for applicants to start looking again so that we can rent the properties we are currently marketing.”
Louise O’Driscoll Head of Lettings
27%
of our tenants are looking to spend in the region of £500 - £750 per week for rental property
st john’s wood LETTINGS
Clifton Gardens
Prince Albert Road
This immaculately presented property offers bright and spacious accommodation with high ceilings throughout.
A newly refurbished family home benefitting from a garden and off-street parking.
2 bedrooms, 2 bathrooms (1 en suite), open-plan kitchen/reception room with working fireplace, balcony.
6 double bedrooms, 5 bathrooms, 4 reception rooms, eat-in kitchen.
Approximately 71.25 sq m (767 sq ft)
Approximately 357.94 sq m (3,853 sq ft)
Opposite Regent’s Park
White stucco fronted apartment
MAIDA VALE W9
REGENT’S PARK NW1
Available furnished or unfurnished Guide price: £630 per week
Available part furnished Guide price: £6,250 per week
Blomfield Road
Gloucester Avenue
A unique home docked in Regent’s Canal.
An architecturally designed family home with selfcontained studio.
Sir Richard Branson’s houseboat
2 bedrooms, bedroom 3/family area, shower room, reception room/dining room, kitchen, separate utility room, roof terrace, private garden. Approximately 88.99 sq m (958 sq ft)
Heart of Primrose Hill
5 bedrooms, 5 bathrooms, 3 reception rooms, kitchen, 2 terraces, garden. Approximately 293.76 sq m (3,158 sq ft)
LITTLE VENICE W9
PRIMROSE HILL NW1
Available part furnished Guide price: £850 per week
Available furnished or unfurnished Guide price: £3,250 per week 020 7483 8353
stjohnswoodlettings@knightfrank.com
KnightFrank.co.uk/St-Johns-Wood
37
38
st john’s wood LETTINGS
Albany Terrace A grand family home
Set within a private and gated secure terrace and arranged over five floors, this property has been refurbished to an extremely high standard. Master bedroom with en suite bathroom and dressing area, 3 further bedrooms, 3 further bathrooms (2 en suite), 2 reception rooms, family room, utility room, large eat-in kitchen, wine cellar. Approximately 350.4 sq m (3,772 sq ft)
REGENT’S PARK NW1 Available unfurnished Guide price: £5,000 per week
020 7483 8353
stjohnswoodlettings@knightfrank.com
KnightFrank.co.uk/St-Johns-Wood
39
020 7349 4300
chelsea@knightfrank.com
www.knightfrank.co.uk/chelsea
st john’s wood SALES
40
Randolph Crescent
THE MARLOWES
LITTLE VENICE W9
ST JOHN’S WOOD NW8
Guide price: £2,400,000
SOLD
Guide price: £2,595,000
SOLD
St Marks Crescent
Brunswick Place
PRIMROSE HILL NW1
REGENT’S PARK NW1
Guide price: £2,850,000
SOLD
Guide price: £6,750,000
SOLD
Marlborough Place
Hanover Terrace
ST JOHN’S WOOD NW8
REGENT’S PARK NW1
Guide price: £9,500,000
SOLD 020 7586 2777
SOLD stjohnswood@knightfrank.com
KnightFrank.co.uk/St-Johns-Wood
Guide price: £14,000,000
st john’s wood LETTINGS
Hall Road ST JOHN’S WOOD NW8
Yoo Building Guide price: £685 per week
ST JOHN’S WOOD NW8
LET
Guide price: £1,100 per week
LET
Princess Road
Wellington Court
PRIMROSE HILL NW1
ST JOHN’S WOOD NW8
Guide price: £1,250 per week
LET
Guide price: £2,100 per week
LET
Sutherland Avenue
Berkley Grove
MAIDA VALE W9
PRIMROSE HILL NW1
Guide price: £2,950 per week
LET
Guide price: £3,500 per week
LET 020 7483 8353
stjohnswoodlettings@knightfrank.com
KnightFrank.co.uk/St-Johns-Wood
41
RESIDENTIAL SERVICES
42
WHY KNIGHT FRANK? Whether you are buying a beautiful house for personal enjoyment or want to invest in a portfolio of rental properties, we can help. We put clients at the heart of what we do and our service levels are driven by our clients’ needs. As a result we have created an environment that nurtures the best people in the business and genuinely allows us to give the best advice – the sort of advice you’d give your family. What can be a life-changing process for many people – buying, selling, renting, or letting a property – is handled
with care, discretion, service, and professionalism at all times. Below is an overview of our specialist teams and how they can help. If you can’t find what you are looking for here, please visit: KnightFrank.com/Residential
Buying and selling residential property • • • • • •
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Property in Central London please contact Noel Flint on +44 (0)20 7861 5020 UK property outside of London please contact Nick van Zeller on +44 (0)1488 682 726 UK farms and estates please contact Clive Hopkins on +44 (0)20 7861 1064 Property outside of the UK please contact Paddy Dring on + 44(0)20 7861 1061 Knight Frank’s property search service contact Philip Selway on +44 (0) 20 7591 2647 For more information about financing and mortgage options with Knight Frank Finance, please contact Simon Gammon on +44 (0)20 7268 2581 or visit KnightFrankFinance.co.uk Renting, letting and managing residential property • • • • • • •
Finding a property to rent Arranging a tenancy Rental property for corporates Relocation services Valuations Services for landlords Letting your property
• • •
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For more information on renting, letting and property management with Knight Frank please contact Tim Hyatt on +44 (0)20 7861 5044 or visit KnightFrank.co.uk/Lettings Consulting and property research Our world-class research team ensures that we lead the field in understanding the key drivers of the residential property market. This means that we price and market property to deliver a sale or rental in the most effective way. • • • • • •
Valuations Rural consultancy Country house consultancy Renewables and sustainability Rural consultancy Property research
To find out more about Knight Frank’s consultancy services contact David Peters on +44 (0)20 7861 1067 Other areas of expertise • •
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For more information about our residential development team please contact Stephan Miles-Brown on +44 (0)20 7861 5403
DIRECTORY Global Headquarters
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+44 (0)20 7629 8171 55 Baker Street London, W1U 8AN United Kingdom
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Knightsbridge +44 (0)20 7591 8600 knightsbridge@knightfrank.com Ascot +44 (0)1344 624732 ascot@knightfrank.com Marylebone +44 (0)20 7483 8349 Cobham marylebone@knightfrank.com +44 (0)1932 591600 cobham@knightfrank.com
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Hereford +44 (0)1432 273087 hereford@knightfrank.com Horsham +44 (0)1403 339180 horsham@knightfrank.com Hungerford +44 (0)1488 682726 hungerford@knightfrank.com Oxford +44 (0)1865 790077 oxford@knightfrank.com Sevenoaks +44 (0)1732 744477 sevenoaks@knightfrank.com Sherborne +44 (0)1935 812236 sherborne@knightfrank.com Stratford-upon-Avon +44 (0)1789 297735 stratford@knightfrank.com
Virginia Water +44 (0)1344 840020 virginia.water@knightfrank. com Winchester +44 (0)1962 850333 winchester@knightfrank.com Worcester +44 (0)1905 723438 worcester@knightfrank.com Scotland Edinburgh +44 (0)131 222 9600 edinburgh@knightfrank.com Lauder +44 (0)1578 722814 lauder@knightfrank.com Ireland Dublin +353 (0)1 662 3255 mail@ie.knightfrank.com International For a full listing of our international offices please visit KnightFrank.com
Sutton Coldfield +44 (0)121 3627878 sutton.coldfield@knightfrank.com Tunbridge Wells +44 (0)1892 515035 tunbridge.wells@knightfrank.com
Harrogate +44 (0)1423 530088 harrogate@knightfrank.com
Important Notice 1. Particulars: These particulars are not an offer or contract, nor part of one. You should not rely on statements by Knight Frank LLP in the particulars or by word of mouth or in writing (‘information’) as being factually accurate about the property, its condition or its value. Neither Knight Frank LLP nor any joint agent has any authority to make any representations about the property, and accordingly any information given is entirely without responsibility on the part of the agents, seller(s) or lessor(s). 2. Photos etc: The photographs show only certain parts of the property as they appeared at the time they were taken. Areas, measurements and distances given are approximate only. Any computer generated images (CGI) are indicative only. 3. Regulations etc: Any reference to alterations to, or use of, any part of the property does not mean that any necessary planning,
building regulations or other consent has been obtained. A buyer or lessee must find out by inspection or in other ways that these matters have been properly dealt with and that all information is correct. 4. VAT: The VAT position relating to the property (where applicable) may change without notice. Whilst every effort has been made to ensure the accuracy of the information contained in this publication, the publisher cannot accept responsibility for any errors it may contain. All rights reserved. No part of this publication may be reproduced, stored in a retrieval system, or transmitted in any form or by any means, electronic, mechanical, photocopying, recording or otherwise, without prior permission of Knight Frank LLP, 55 Baker Street, London W1U 8AN.
Knight Frank LLP is a limited liability partnership registered in England with registered number OC305934. Our registered office is 55 Baker Street, London, W1U 8AN, where you may look at a list of members’ names. This report is published for general information only and not to be relied upon in any way. Although high standards have been used in the preparation of the information, analysis, views and projections presented in this report, no responsibility or liability whatsoever can be accepted by Knight Frank LLP for any loss or damage resultant from any use of, reliance on or reference to the contents of this document. As a general report, this material does not necessarily represent the view of Knight Frank LLP in relation to particular properties or projects. Reproduction of this report in whole or in part is not allowed without prior written approval of Knight Frank to the form and content within which it appears.
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