CID Property Review

REVIEW LONDON PROPERTY

CITY, ISLINGTON & DOCKLANDS

MAY 2012

Bridge watch Views from the terrace

Museum piece Modern design meets early man

Trainspotting Loft flat now arriving at St Pancras

DT City Cover May 2012.indd 1

25/04/2012 11:39

Savills, for those who live the river

There are so many reasons to love the river. And so many reasons to live on it.

From the dreamy banks of Richmond, Barnes and Putney, to vistas of Chiswick and Chelsea, the stylish developments of Fulham, Battersea and Vauxhall and the dramatic skyline of historic Docklands and Canary Wharf – London riverside property has an energy and a lifestyle of its own.

Savills Waterfront comprises a team of experts from offices across London with all the know how of the Thames-side market, the lock-up and leave developments and the large laid back family homes on both banks.

If you’re thinking of buying, selling, renting or letting on the river set sail with Savills.

Sarah Gretton Savills Waterfront 020 8877 1222 sgretton@savills.com

savills.co.uk 2 Savills output city May 2012.indd 2 SA58945 Property Review Waterfront WPB.indd 1

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2 17:23

1

savills.co.uk

2

RIVERSIDE LODGE, w4

RIVERSIDE APARTMENT, sw6

Reception room / dining room ø 5 spacious bedrooms ø 6 bathrooms (4 en suite) ø playroom ø gym ø cinema room ø balcony and terrace ø integrated garage ø 391 sq m (4,200 sq ft)

Reception room with dining area ø kitchen/ breakfast room ø master bedroom with dressing room ø 3 further bedrooms ø 2 bathrooms ø utility room ø 279 sq m (3,003 sq ft)

Guide £4.5 million Freehold

Guide £2.5 million Leasehold

3

4

Savills Chiswick cbramwell@savills.com 020 8987 5550

Savills Fulham estead@savills.com 020 7731 9400

ALBION RIVERSIDE, sw11

RUVIGNY GARDENS, sw15

Reception room with dining area ø modern kitchen ø river views ø master bedroom suite with dressing area ø 2 further double bedrooms ø 1 parking space ø 182 sq m (1,954 sq ft)

Bright reception room ø dining/family room ø kitchen/breakfast room ø 4/5 bedrooms ø direct river views ø cellar/utility room ø large garden ø gated off-street parking ø 224 sq m (2,411 sq ft)

Asking £2.45 million Leasehold

Guide £2.85 million Freehold

Savills Battersea mshort@savills.com 020 3402 1900

Savills Putney ahowardbaker@savills.com 020 8780 9900

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contents MAY

43

56 NEWS AND FEATURES

12

15

12

15

MARKET VIEW Devil is in the detail.

Property plans are on hold as investors wait for levy facts, reports Robert Bailey.

58

NEWS Olympic values. Property prices in the Games zone underperform but it’s early days, reports Cheryl Markosky.

FINANCE Tax proposal. Encourage nonresidents to let their properties, and not leave them empty, says Patrick Bullick.

BEST BUYS Fixed, discount or tracker – check out the facts, figures and

interest rates from our current top ten mortgages.

13

NEWS Birds are singing. New developments are bringing new life to the property market in Canary Wharf.

14

FINANCE Bridge that gap. Break free from the chains to compete with the cash buyers, reports Duncan Farmer.

20 4 City Contents DPS.indd 1

25/04/2012 11:37

30

REVIEW LONDON property

PUBLISHING Publisher Richard Nugent 07964 384341 propertyreview@hotmail.com EDITORIAL Editor Bob Stonebridge 01536 330314 cityeditorial@propertyreview.org.uk Contributors Cheryl Markosky Duncan Farmer Robert Bailey

FOR SALE & TO RENT

27

ISLINGTON, HIGHBURY, CANONBURY, BARNSBURY, ANGEL Brave new ideas. Contemporary design

Cover Photo: © fasphotographic - www.shutterstock.com DESIGN & PRODUCTION Caroline Nall 01536 418181 city@typestart.co.uk Typestart Limited, 1 Rothwell Grange Court, Rothwell Road, Kettering, Northants NN16 8FB www.typestart.co.uk

brings the 21st century to a Grade II listed house and garden around the corner from the Business Design Centre.

42

BLOOMSBURY, SHOREDITCH, CLERKENWELL, SPITALFIELDS, MOORGATE, LONDON FIELDS Museum piece. A refurbished house originally designed by

SUBSCRIPTIONS 01536 330314 or subscriptions@propertyreview.org.uk

Prince Regent architect John Nash stands diagonally opposite the British Museum in Great Russell Street.

Property Review 23a St James’s Street, London SW1A 1HG

54

© Copyright Property Review. No part of this magazine may be reproduced without the prior permission of the publishers.

Property Review cannot be responsible for unsolicited material. All prices are correct at time of going to press but are subject to change.

SHAD THAMES, WAPPING, ISLE OF DOGS, CANARY WHARF, LONDON BRIDGE, BERMONDSEY, ROTHERHITHE Dazzling visions. Enjoy

blockbuster movies on a giant screen in the cinema room or step out onto the terrace for sparkling views of The Shard and Tower Bridge.

43 5 City Contents DPS.indd 2

25/04/2012 11:38

savills.co.uk

1 FANTASTIC FAMILY HOUSE BACKING ONTO HIGHBURY FIELDS baalbec road, n5 5 bedrooms ø kitchen ø 3 reception rooms ø 2 bathrooms & shower room ø utility room ø separate w.c ø roof terrace ø garden with direct access to Highbury Fields ø 265 sq m (2,853 sq ft)

6

Savills Islington Paul Williams pwilliams@savills.com

020 7226 1313

Guide £2.3 million Freehold

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savills.co.uk

1 SUPERB FAMILY SIZED END OF TERRACE VICTORIAN HOUSE aberdeen road, n5 3 reception rooms ø kitchen/breakfast room ø 4 double bedrooms ø bathroom ø shower room ø utility room ø separate w.c ø balcony ø landscaped garden ø garage ø 261 sq m (2,806 sq ft)

Savills Islington Paul Williams pwilliams@savills.com

020 7226 1313 Guide £2.35 million Freehold

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1

savills.co.uk

DISCOVERY DOCK, e14

EATON HOUSE, e14

Reception room ø kitchen ø 3 double bedrooms ø 3 bathrooms ø balcony ø parking space ø concierge ø 142 sq m (1,530 sq ft)

Reception room ø kitchen ø 2 bedrooms ø 2 bathrooms ø 2 balconies ø protected parking ø concierge ø 117 sq m (1,260 sq ft)

Guide £875,000 Leasehold

Guide £649,950 Leasehold

3

8

2 4

Savills Canary Wharf bpage@savills.com 020 7531 2500

Savills Canary Wharf bpage@savills.com 020 7531 2500

OCEAN WHARF, e14

DISCOVERY DOCK, e14

Reception room ø kitchen ø 2 bedrooms ø 2 bathrooms ø balcony ø protected parking ø concierge ø 92 sq m (1,004 sq ft)

Reception room ø kitchen ø bedroom ø bathroom ø balcony ø parking space ø gym ø concierge ø 60 m sq (641 sq ft)

Guide £595,000 Leasehold

Guide £425,000 Leasehold

Savills Canary Wharf bpage@savills.com 020 7531 2500

Savills Docklands bpage@savills.com 020 7531 2500

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1

savills.co.uk

2

ST HILDAS WHARF, e1w

STEPNEY GREEN, e1

Reception room ø contemporary kitchen ø 4 double bedrooms ø 3 en suite bathrooms ø terrace ø 255 sq m (2,740 sq ft)

3 reception rooms ø kitchen ø 5 bedrooms ø 3 bathrooms ø garden ø 2 parking spaces ø 255 sq m (2,740 sq ft)

Asking £1.995 million Freehold

Guide £1.75 million Freehold

3

4

Savills Docklands zjames@savills.com 020 7456 6800

Savills Docklands juprowse@savills.com 020 7456 6800

CORMORANT LODGE, e1w

PROSPERO HOUSE, e1

Reception room ø kitchen ø 2 bedrooms ø 2 bathrooms ø protected parking ø concierge ø balcony ø terrace ø 103 sq m (1,111 sq ft)

Reception room ø open plan kitchen ø 2 double bedrooms ø 2 en suite bathrooms ø terrace ø city views ø 83 sq m (893 sq ft)

Guide £1.25 million Share of Freehold

Asking £750,000 Leasehold

Savills Docklands zjames@savills.com 020 7456 6800

Savills Docklands zjames@savills.com 020 7456 6800

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1

savills.co.uk

THE TRIANGLE, se1

ST THOMAS WHARF, e1w

2 bedrooms ø 1 bathroom ø reception room ø balcony ø allocated parking

2 bedrooms ø 2 bathrooms ø reception room ø open plan kitchen ø balcony with river views ø recently refurbished

£550 per week Furnished

£625 per week Furnished

3

10

2 4

Savills Docklands brodgers@savills.com 020 7456 6800

Savills Docklands brodgers@savills.com 020 7456 6800

CAPITAL WHARF, e1w

IONIAN BUILDING, e14

2 bedrooms ø 2 bathrooms (1 en suite) ø reception area ø terrace with river views ø 24hr porterage ø allocated parking

3 bedrooms ø 3 bathrooms (2 en suite) ø reception room ø kitchen ø river views ø double car parking space ø 1,400 sq ft terrace ø communal garden ø 24hr porter

£745 per week Furnished

£900 per week Furnished

Savills Docklands brodgers@savills.com 020 7456 6800

Savills Canary Wharf sdeller@savills.com 020 7531 2505

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1

savills.co.uk

2

ONTARIO TOWER, e14

DISCOVERY DOCK, e14

Studio suite ø 1 bathroom ø open plan kitchen area ø 24hr porterage ø on site leisure facilities

2 bedrooms ø 2 bathrooms ø reception room ø terrace with views of canary wharf and river ø allocated parking ø on site pool and gymnasium

£325 per week Furnished

£695 per week Furnished

3

4

Savills Canary Wharf ssaul@savills.com 020 7531 2500

Savills Canary Wharf sdeller@savills.com 020 7531 2505

NO1 WEST INDIA QUAY, e14

HANOVER HOUSE, e14

2 bedrooms ø 2 bathrooms ø cloakroom ø reception room ø views of the City/Olympic village ø allocated parking ø 24hr porterage ø located above the Marriott

2 bedrooms ø 2 bathrooms ø study ø reception room ø balcony with river views ø allocated parking ø 24hr security ø on site leisure facilities ø landscaped communal garden

£795 per week Flexible furnishings

£1,000 per week Furnished

Savills Canary Wharf sdeller@savills.com 020 7531 2505

Savills Canary Wharf sdeller@savills.com 020 7531 2505

Savills output city May 2012.indd 11

11 25/04/2012 10:37

LONDON PROPERTY

REVIEW

Market view

They say the devil is in the detail, and since George Osborne’s budget announcement, the prime central London property market has been waiting for the detail of his plans, writes property finder Robert Bailey.

At the time of writing, we’re waiting for the publication of a White Paper that will shed more light on some of the proposals.

There is, of course, a new 7 per cent stamp duty threshold on property above £2m, and 15 per cent for property at that level purchased through a ‘non-natural person’ (a company or similar entity).

High-end buyers won’t be deterred by the 7 per cent threshold and most will seek to negotiate this off the asking price or know that capital gains will soon offset this tax. What George Osborne failed to realise, though, is that many home buyers who bought through a company didn’t do so because they were seeking to avoid stamp duty, but for other reasons.

Currently, I’m trying to find a flat in Belgravia for an insurance firm with numerous employees travelling to London from around the country and world. It’s far cheaper and easier for them to maintain a company flat than to sort out hotels, and it also represents an asset for the company. But in the wake of the budget, its plans have been put on hold. The company wouldn’t have baulked at paying 7 per cent stamp duty, but 15 per cent has given pause for thought.

Of even greater concern is the proposed annual levy (currently under consultation with an announcement to be made some time next year) on companies holding residential property. If this levy’s enacted, it will become prohibitively expensive for my client to maintain a corporate flat and they will abandon the idea.

This isn’t an isolated case, with many property deals on hold until the government decides what to do. Property funds, buy-to-let investors and private individuals who simply don’t want to hold such a valuable asset in their own name are all affected. One Mayfair estate agent is reporting that 79 per cent of its purchasers bought through a company last year and only a small minority were motivated to do so to avoid stamp duty. If you’re wealthy enough to afford a property in Mayfair, 7 per cent duty isn’t a deal breaker. Punitive rates of stamp duty plus an annual levy will be.

My concern is that the property market, one of the few positive investments in these difficult times, will remain in a state of limbo until the levy issue’s resolved. Since the budget, the market’s been more subdued, and I can only hope that George Osborne abolishes the idea of this levy soon. www.robertbaileyproperty.com 020 7352 0899

Olympic values underperform – but it’s early days Cheryl Markosky brings you the latest word on the streets With the 2012 Olympics months away, new research shows that on a pound per square foot basis, values in Stratford have underperformed compared to the rest of London.

According to Hometrack analysis, in 2001 average values in E15 traded at a 30 to 35 per cent discount to Greater London. While the gap narrowed to between 10 and 20 per cent following the announcement of the Games, it’s since widened and today stands at 35 per cent.

Richard Donnell, Hometrack’s director of research, says: “Given that the area around Stratford has been in the spotlight since 2006, Hometrack’s findings may come as a surprise. However, it should be remembered that as a regeneration project, the area’s still in its infancy. The

next 10 to 20 years will see the growth of a new residential quarter, with up to 11,000 homes planned for the Olympic Park and Village sites alone, all in an area with a new E20 postcode. Off the back of this new supply, new pricing benchmarks will emerge.”

Hometrack’s findings show that the Isle of Dogs and Greenwich are trading at premiums of 46 and 60 per cent to current pricing levels in Stratford. Around central Stratford, values currently stand at £350 to £400 per square foot.

Donnell suggests the challenge facing developers in E15 lies in increasing values from west to east; and for investors, interest lies in the timeframe this will take to happen. “The new supply of housing after the Games in the E20 postcode will need to find its level within the profile of pricing across London.”

“The next 10 to 20 years will see the growth of a new residential quarter in the Stratford area” Richard Donnell, Hometrack’s

12 DT City News DPS.indd 1

25/04/2012 11:35

LONDON PROPERTY

REVIEW

The birds are singing at Canary Wharf After a quiet post-crash period, Dawn Sandoval from Dawn Sandoval Residential says she’s seeing a number of new developments and life returning to the market again in Canary Wharf.

“Prices for rental homes went crazy last summer, but now have levelled back roughly to where they should be.

Everything’s seesawing back over to sales again in that fickle way only the property market can demonstrate, which I haven’t seen this busy since the crash,” she reports. With a number of first-time buyers, families and investors all showing interest, Sandoval’s getting multiple offers on some homes.

With the shortage of homes currently on offer, Sandoval says it’s exciting to see hoardings going up and things starting to happen at sites – such as City Pride and Island Point in the Isle of Dogs – that were stuck in planning for years.

She tips new major gated riverside developments as the best place to put your money. “There won’t be many more built, as you can only fit so much alongside the Thames. I’d also recommend anywhere within a 10-minute walk of the heart of Canary Wharf, where a one-bedroom flat starts at about £300,000 and two-bedroom units are from £450,000.”

A well-kept secret is Millennium Harbour, suggests Sandoval, where most property doesn’t even come onto the open market. “People rent and then talk to one another to find out when a property is available to buy. It’s similar at

(Left & Middle) Riverside investment: Millennium Harbour. (Right) Terrace view: Pierpoint Building

The Anchorage, where homes get sold within the block.”

The area is also changing rapidly, to the benefit of families wanting to stay put. It was previously full of mainly singletons and young professionals, who settle down and have babies, which means the infrastructure’s shifting to satisfy needs. A Montessori nursery has opened, as has the first free school, Canary Wharf College.

“Developers need to listen to what the public wants and build more family units,” adds Sandoval. “Unless you can afford a penthouse or venture further out to get a house, there aren’t enough big apartments for families.”

Sandoval is currently selling a roomy two-bedroom apartment for £470,000 at the Vanguard Building at Millennium Harbour with a terrace, leisure facilities (a gym, Jacuzzi and solarium), secure parking and 24-hour concierge service, which could fit the bill.

And for families wanting to rent so they can be the first to spot that fortuitous buying opportunity when it arises, there’s a three-bedroom unit in the Pierpoint Building (also at Millennium Harbour) with leisure facilities, direct river views from a large terrace, and separate dining and utility rooms (available for £1100 a week, through Dawn Sandoval Residential 020 7093 1702). Canary Wharf Station and Heron Quay DLR are both within easy walking distance, as are the shops and other amenities.

“Developers need to listen to what the public wants and build more family units” Dawn Sandoval, Dawn Sandoval Residential

FTSE index link to Eastern values Meanwhile, a new study shows that the relationship between the FTSE index and London rents could prove to be a useful guide for investors. Dan Parker from Savills Islington says a clear link between the FTSE and London rents shows that while falling City employment levels and sentiment are cooling, prime London rents fall – particularly at the top end.

Savills research highlights trends influencing very local supply and demand issues, such as fewer expat tenants (down from 53 per cent of the market a year ago to 40 per cent), and reduced corporate budgets relocating employees to smaller properties and lower budgets. The prime rental markets of north and east London have cooled, with quarterly price movements of -0.4 and 0.2 per cent respectively, though the mid-term pattern is more mixed.

“The Docklands and Wapping markets, traditionally heavily City-dependent, were slow to recover post-credit crunch, but now attract a more diverse tenant base with a 1.8 per cent uplift over the past year,” explains Parker. “Lower capital values are attracting investors, and recently we let several properties in Central Square EC1 through Asian investors, the majority to international corporate tenants.”

“The Docklands and Wapping markets now attract a more diverse tenant base” Dan Parker, Savills

13 DT City News DPS.indd 2

25/04/2012 10:22

LONDON PROPERTY

REVIEW

Bridge the gap to seal a deal

Yields go south In its latest report on the investment market, Knight Frank is calling for much greater investment in the private rented sector, which it is forecasting to grow over the next five years, just as it has boomed in the past decade.

The report, which is both fascinating and radical in its examination of new investment models, such as ‘build to let’, says that tighter mortgage conditions are forcing a growing number of wouldbe buyers to rent instead. And while demand is greatest in the prime areas of central London, the squeeze on jobs and incomes in the financial sector is leading many tenants to downsize their homes and look for more modest accommodation on the capital’s fringes.

As a result, says the report, landlords can find far greater yields in less central areas, notably the southern side of London such as Putney, Richmond and Kingston.

Buy chain-free and compete with cash buyers, says Duncan Farmer The first quarter of 2012 saw continuing demand for houses and flats throughout the City and Docklands, with trophy homes, such as penthouses or large family houses with gardens being the most popular.

One-bedroom flats, for use as piédà-terres by wealthy financiers, were also sought after, and the buy-to-let market was strong. In the first three months of the year, prices jumped by 3.5 per cent in the City and by three per cent in Docklands, according to figures from Hurford Salvi Carr.

However, with half of all purchasers being wealthy foreigners, mainly from Greece and Italy, looking for a safe home for their cash, and a far quieter bonus season in the financial sector, local buyers looking to move to a larger property have faced stiff competition. To compete with these overseas buyers, many locals are looking at alternative ways to finance their move.

Mark Harris of SPF Private Clients, the broker, says that such is demand for highend homes in the heart of London that many of his clients are buying their next house before selling their last and using bridging finance to complete the deal.

“We are doing a lot of deals at the moment where the client is arranging

It’s payback time for cautious borrowers The number of homeowners looking to re-mortgage has fallen to its lowest level for 13 years as borrowers appear reluctant to take on new debt.

Instead they are trying to clear their existing loan.

The British Bankers Association said the number of re-mortgaging approvals was 18,147 in March, down from 20,635 in January. David Dooks, statistics director at the BBA, said: “Businesses and households continue to be cautious about their finances in the face of difficult economic times and this shows up in a reluctance to take on new credit, or where possible, seeking to pay back bank borrowing. Confidence will be helped in the coming months by official schemes to support the mortgage market and stimulate business demand for credit.”

bridging finance in order to compete with the more favoured cash buyer,” says Harris. “Effectively we arrange a larger loan secured against both properties (the one being sold and the one being bought).

The loan is then reduced upon sale of the existing property. It allows the buyer to be chain-free and therefore deliver against deadlines on the purchase, and also gives them time to achieve the best price for their own home.”

Traditional bridging finance, however, is expensive and rates are usually about 0.75 per cent per month, but Harris structures the loan differently: rather than arranging a bridging loan for the purchase of the new home he rolls the existing mortgage and the new mortgage into one at the same rate of interest.

“Rather than using bridging finance, which can be expensive, we secure these facilities on a bespoke basis with a number of private banks. What we generally do is arrange an initial loan at the same rate with a built-in expectation that the loan is reduced upon the sale of the existing property within 12 months,” he says.

“Traditional bridging is available from 0.75 per cent per month whereas this is structured at private bank pricing with all-in pay rates of between 2.5 and 3.5 per cent per annum. That’s a huge difference.”

Current Best Buy Mortgages

Fixed Rates

Source: Charcol Ltd 0800 718191 www.charcol.co.uk

LENDER

CURRENT RATE

FIXED TO

MAX ADV

LENDER FEE

REVERT RATE

THE OVERALL COST FOR COMPARISON IS

EARLY REPAYMENT CHARGE (ERC)

ING Direct

3.19%

31/07/14

60%

£945

3.50% Variable

3.60% APR

2.70/1.80% to 31/07/14.

Can repay up to 10% p.a. ERC free.

Loans £50k - £2m. Valuation fee refund on Purchases.

Free valuation and free legal service on Remortgages.

ING Direct

3.89%

31/07/17

60%

£945

3.50% Variable

3.80% APR

4.1% for 3 years, 1.6% to 31/07/17.

Can repay up to 10% p.a. ERC free.

Loans £50k - £2m. Valuation fee refund on Purchases.

Free valuation and free legal service on Remortgages.

John Charcol

4.39%

31/05/14

85%

£995

3.99% Variable

4.20% APR

3/2% to 31/05/14.

Can repay up to 10% p.a. ERC free.

Max loan: £1m. Free valuation and free legal service on Remortgages.

Leeds

4.49%

31/05/17

85%

£999

5.69% Variable

5.50% APR

5/5/4/3/2% to 31/05/17.

Can repay up to 10% p.a. ERC free.

Max loan £500k. Free valuation for Purchases and Remortgages. Free legal service on Remortgages.

NOTES

14 DT Finance DPS.indd 1

25/04/2012 10:23

LONDON PROPERTY

REVIEW

Property tax proposals

Interest-only ticks the box

Patrick Bullick, chairman NAEA London Region and MD of Stanley Chelsea, reports for London Property Review

Martin Wheatley, incoming head of the Financial Conduct Authority (which will be the regulator responsible for consumer protection when the Financial Services Authority is dismantled), referred to the sizeable stock of outstanding interest-only mortgages as a ‘ticking time bomb’.

Interest-only loans are particularly popular at the top end of the market. However, analysis by the Council of Mortgage Lenders shows that the majority of interest-only loans maturing throughout this decade have a comfortable equity cushion. For loans maturing over the next three years, over half have an equity stake of over 70 per cent of the property value, and a further third have a stake of more than 45 per cent of the property value.

At the other end of the scale there are very few mortgages with smaller equity stakes due to mature in the next three years. In total it estimates there are 6000 interest-only mortgages – just one per cent of all interestonly loans due to mature over that time – with less than 10 per cent equity. Hardly a time bomb, and barely ticking.

Chancellor George Osborne has said he wants to implement capital gains tax (CGT) and a property-based wealth tax in April 2013 for non-resident, nonnatural persons – offshore company structures.

He has also said he will consult on the exact implementation. Perhaps I am naive, but I believe we should take him at face value. So here are a few suggestions of mine for consideration.

It is simply not fair that any non-resident should be CGT exempt when a UK-based investor would be paying 28 per cent CGT on gains when selling a property other than their own home (primary residence). By definition, a nonresident does not have a primary residence here, so should pay CGT on all their residential property in the UK, however it is held.

I would suggest a special, internationally competitive rate of 10 or 15 per cent.

Not enough to put foreign investors off but enough to raise some revenue and help stop the distortion to the London market that CGT exemption helps create.

CGT is a tax that people seldom resent paying as it is, after all, only payable where there is a gain in value during ownership.

On the other hand, stamp duty land tax (property purchase tax) is now 7 per cent on purchases above £2m. This is going in completely the wrong direction: until 1997, when our friend Gordon Brown took over the Treasury, stamp duty was 1 per cent all the way up.

With rates this high, people are reluctant to sell and re-buy property thereby inhibiting their ability to move. This is bad for the free movement of labour and the economy as a whole. Transaction levels are down by about 40 per cent in the London area. High transaction taxes are known to lessen turnover so the increase in revenue to HMRC will be pretty limited.

Any revenues raised through CGT on non-residents should be put towards reducing SDLT, which will directly lead to increased turnover.

If an annual property asset tax were to be charged to any non-resident owners it should, in my view, be at a rate of about 0.5 per cent of the asset value. This could be self-assessed with HMRC having the right to check it, as they do all tax returns.

The fact that such a tax existed might help to encourage non-resident owners to let out their properties rather than keep them empty for much of the year as is the case now. This would be good for the supply of rental property and help ease the constant pressure to build new properties in our capital city.

LENDING IS RISING Mortgage lending has increased for seven months in a row, according to figures from the Council of Mortgage Lenders, with data showing that lending for house purchase remained brisk in advance of the end of the stamp duty concession for first-time buyers at the end of March.

Although February’s gross lending total was estimated at £10.7 billion, only a shade higher than January’s total of £10.65 billion, the figure was 14 per cent higher than in February 2011 (£9.4 billion). A seasonal decline is normally expected in the winter months, but the launch of the NewBuy scheme should help to bolster lending in the coming months.

That could potentially offset a dip in lending activity brought about by the end of the first-time buyer stamp duty concession.

Variable Rates & Variable/Fixed Rates LENDER

CURRENT RATE

BASIS AND TERM

MAX ADV

LENDER FEE

REVERT RATE

THE OVERALL COST FOR COMPARISON IS

EARLY REPAYMENT CHARGE (ERC)

NOTES

Metro Bank

3.05%

0.95% discount for 2 years

80%

£500

4.00% Variable

4.00% APR

2/1% for 2 years. Can repay up to 10% p.a. ERC free.

Max loan £500k. Free valuation and free legal service on Remortgages. Lender’s Current Account to be opened.

Coventry

4.39%

Variable for term

85%

£999

N/A

3.60% APR

No ERC Unlimited overpayments allowed

Max loan: £2m. Free Valuation on Purchases & Remortgages. Free legal service on Remortgages.

Bank of China

2.80%

BR +2.30% for term

80%

£1295

N/A

2.90% APR

1% in year 1 on full repayment.

Unlimited overpayments.

LENDER

CURRENT RATE

BASIS AND TERM

MAX ADV

LENDER FEE

FOLLOW ON RATE

THE OVERALL COST FOR COMPARISON IS

EARLY REPAYMENT CHARGE (ERC)

NOTES

Woolwich

3.29%

BR +2.79% to 31/05/14

70%

£999

4.29% Fixed

4.00% APR

3% to 31/05/17. Can repay up to 10% p.a. ERC free.

Max loan £1m. Tracker rate reverts to 4.29% Fixed to 31/05/2017.

Free valuation and free legal service or £200 cashback on Remortgages.

Capital & Interest Repayment only. Higher fees apply over £500,000: £2495 to £1m & 0.50% over £1m.

15 DT Finance DPS.indd 2

25/04/2012 10:23

LEFT-HAND

Hamptons Islington 020 7717 5453 islington@hamptons-int.com

Manor Road, N16 Asking Price £199,950 Leasehold A delightful studio apartment located moments from Stoke Newington train station.

Swan Yard, N1 Asking Price £350,000 Leasehold

Elizabeth Avenue, N1 Asking Price £389,950 Leasehold

College Cross, N1 Asking Price £415,000 Share of Freehold Set within this stunning corner house is a well presented second floor apartment. The property offers one double bedroom, open plan living room, bathroom and share of freehold.

A well presented one bedroom garden flat offering bright accommodation. The property is located on a residential road..

Conveniently tucked away behind Upper Street is this wonderful one bedroom garden flat which forms the ground floor of a converted warehouse conversion.

It’s important to make time for the things you love.

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At Hamptons International, we take all the strain out of managing your move. Leaving you free to enjoy the finer things in life, safe in the knowledge that everything’s being taken care of.

25/04/2012 11:10

RIGHT-HAND

Hamptons Islington 020 7717 5453 islington@hamptons-int.com

Hornsey Road, N7 Asking Price £420,000 Leasehold

Pentonville Road, N1 Asking Price £569,950 Leasehold A well presented apartment positioned on the third floor of a converted building.

Accomodation comprises two bedrooms, two bathrooms, living room and kitchen.

Ringcroft Street, N7 Asking Price £575,000 Share of Freehold A beautiful apartment occupying the upper two floors of this Victorian terrace. The property offers two bedrooms, living room, eat-in kitchen, bathroom, terrace & rear garden.

Northampton Grove, N1 Asking Price £625,000 Freehold A detached double fronted house positioned ideally in a cul-de-sac location. The period house currently offers two bedrooms, two reception rooms and three bathrooms.

A modern apartment located on the first floor of this popular development. The property offers two bedroms, two bathooms, open plan living room/kitchen and balcony.

It’s important to make time for the things you love.

At Hamptons International, we take all the strain out of managing your move. Leaving you free to enjoy the finer things in life, safe in the knowledge that everything’s being taken care of.

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LEFT-HAND

Hamptons Islington Lettings 020 7717 5455 islingtonlettings@hamptons-int.com

Islington Park Street, N1 Guide Price £750 per week (Long Let)

Coopers Yard, N1 Guide Price £775 per week (Long Let)

Hoxton Street, N1 Guide Price £850 per week (Long Let) A fantastic four bedroom property with double rooms all with great storage, modern fittings and wooden floors throughout whilst being only minutes from the transport links of Old Street and the night life Shoreditch.

Bride Street, N7 Guide Price £895 per week (Long Let)

Set in a lovely gated mews and located in the heart of Islington, we are pleased to offer this beautifully finished three bedroom mews house with modern fittings throughout and off street parking.

A stunning mews house situated seconds from the bars and restaurants of Upper Street whilst having Angel and Highbury & Islington station an equal distance away with modern fittings throughout.

Benefitting from an extensive renovation throughout, this now beautifully finished three bedroom end of terrace house boasts contemporary high quality fixtures and fittings throughout, private patio area and newly developed roof terrace.

In the year of medals, we are already on a winning streak.

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Hamptons International Silver for Best UK Large Estate Agency and Best for Marketing.

25/04/2012 11:12

RIGHT-HAND

Gallery Lofts, SE1 £5,000 per week

OLYMPIC LET: Immaculate three bedroom, two bathroom duplex loft apartment with two terraces in this highly desirable development in the heart of Southbank.

Hamptons Tower Bridge Lettings 020 7717 5491

Anise Building, SE1 £850 per week A stunning 1450 sq ft two bedroom apartment situated in the heart of Shad Thames within moments from the many riverside bars and restaurants.

Hamptons Tower Bridge Lettings 020 7717 5491

Cock Lane EC1 £460 per week

Mallow Street EC1 £590 per week

Beautifully presented spacious one bedroom apartment perfectly located in the heart of the City of London, close to St Pauls, Farringdon and Barbican Stations.

Hamptons City Lettings 020 7717 5437

The Hamptons International team always go further to meet your personal property needs, whatever they may be. Over 97% of our clients say they would use us again or recommend us to others. Let us show you why.

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Fantastic Shoreditch warehouse conversion apartment located moments from Old Street underground station, benefiting from original features and wood floors.

Hamptons City Lettings 020 7717 5437

19 25/04/2012 11:11

LONDON PROPERTY

REVIEW

Take a look at Metropolis and join SE1 revolution The vertical city at The Shard, Western Europe’s tallest building, stands as a towering symbol of the revival of SE1, where £1.5 billion is being invested on the regeneration of Elephant and Castle alone.

Viewing galleries at The Shard are due to open to the public next February, so you can take a high-speed lift to an aerial observatory for a bird’s eye outlook on latest improvements to the area. Pre-register now for tickets.

From your Shard vantage point you’ll be able to take a fascinating look at the Metropolis, latest release in the SE1 Collection of high-spec contemporary apartments from Greenwich-based development company Vision Homes.

The SE1 Collection’s Grange Road development, half a mile down the road, sold out in weeks and is now fully complete. Metropolis, with the same top specification, is due to complete in

October, to be followed soon after by the Wild’s Rents scheme.

Metropolis, on New Kent Road, is only 500 metres from Elephant Castle tube station and a few minutes’ walk from Borough Market. Supported by on-site shopping and office space, the homes offer contemporary styling and high-spec finishes.

“The sleek fitted kitchens, brandname appliances, luxurious bathrooms and oak veneered doors enhance the contemporary feel of the exterior architecture,” said Vision Homes chairman Parma Sulh.

“Clever use has been made of space to provide useful storage areas. Security has also been carefully considered - the entrances are gated with CCTV video entry system.”

Metropolis, New Kent Road SE1, from £300,000, Field & Sons 020 7234 9633

“Very few developments in London offer the extraordinarily high standards of build and impressive interior specifications of the SE1 Collection” Parma Sulh, Vision Homes

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THE TANYARD

JUST LAUNCHED

B E R MO ND S E Y

BERMONDSEY

The Tanyard, London SE1 A bespoke development of just seventeen, 1 & 2 bedroom apartments.

Each finished to the highest standard.

JUST LAUNCHED Photograph shows an interior at The Tanyard.

Untitled-1 1

To view Show Apartment strictly by appointment only please call

0207 2233381

QR scan me now

lindenhomes.co.uk/tanyard Selling Agent: Field & Sons 25/04/2012 11:34

no cars

no boats

no recipes

just property

www.londonpropertyreview.co.uk

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SALTDEAN, BRIGHTON BN2 8LG

THE ULTIMATE COASTAL RETREAT High specification apartments with exceptional views in a superb location. Voted 2nd in The Telegraph’s ‘Top Ten British Coast Locations’.* • An iconic development of exceptional 1 & 2 bedroom apartments • 10 mins drive from Brighton Marina • High Specification designer kitchens and bathrooms • Terrace/Balcony areas with sea views to many apartments • Secure underground car parking

• Residents’ on site gym • Secure fob entry system • Lifts to all levels • On site Estate Manager • Solar panel water heating to Caspian apartments • Contemporary innovative construction, resulting in greater energy efficiency

STAMP DUTY PAID!** Final few apartments remaining in the stunning Art Deco building Prices from £179,995 - £529,995

A development by:

Marketing Suite open: 7 days a week from 10am-5.30pm T: 0845 873 9054 E: grandocean@exploreliving.co.uk www.exploreliving.co.uk *As featured in The Daily Telegraph property section 25.01.12. **Subject to terms and conditions on a single property up to the value of £500,000. Offer available until 30th September 2012 only. Not available in conjunction with any other offer. Prices correct at time of press. Photography of Grand Ocean.

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Outstanding Views at London’s Premier New Address Introducing Wellington Gate by Berkeley. The first phase of Wellington Gate offers an exclusive collection of just 8 executive family homes with a luxury specification and unrivalled views.

Register now 020 8226 2126

www.wellingtongate.co.uk Proud to be a member of the Berkeley Group of companies

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Details correct at time of going to press. Photography depicts indicative views.

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LONDON PROPERTY

REVIEW

Maisonette offers a way to Paradise Close to Paradise Park and Paradise Children’s Centre, a two-bedroom maisonette in Paradise Passage is set on the ground and lower ground floors of a modern building.

Just behind Liverpool Road, the 1185 sq ft Islington property has a large living room, contemporary kitchen, two bathrooms and a terrace. Upper Street and Highbury & Islington station are nearby.

Paradise Park includes a children’s playground and water feature, outdoor gym equipment, floodlit Astroturf pitch, petanque court and grass meadow.

Paradise Passage, Islington N7, £650,000, Hamptons 020 7226 4688

Highbury townhouse A classic redbrick townhouse from the late Victorian era is offering five floors of living space in residential Baalbec Road, Highbury.

The family house has five bedrooms, three reception rooms, kitchen and utility room, two bathrooms and a shower room. The current owners have maintained the house to high standards with fine fixtures and fittings combined with original Victorian features.

A rear garden gate leads out to the park, and an impressive roof terrace on the second floor overlooks Highbury Fields. Total inside space is more than 2850 sq ft, and the garden is 20ft long. Pick up your choice of transport at Highbury Corner and shop at Highbury Barn.

Baalbec Road, Highbury N5, guide price £2.3m, Savills 020 7226 1313

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LONDON PROPERTY

REVIEW

Brave new world of design ideas Young creatives from across the UK will be unleashing their brave new ideas and inspiration at this year’s New Designers exhibition, which opens at the Business Design Centre at the end of June.

A Grade II listed house in a no-through road close to the London conference and exhibition venue has been brought into the 21st century with a modern makeover and contemporary designs in the house and garden.

The wide end-of-terrace property in Bromfield Street, north of Angel, has four floors of living space balancing period detailing with modern finishes. A double aspect, double reception on the raised ground floor has stripped and polished wooden floors and two periodstyle sold fuel fireplaces. Floor-to-ceiling doors allow this space to be divided into two rooms.

On the lower ground floor, a contemporary kitchen features a range of dark wood units, Miele appliances, central island and Fisher & Paykel American-style fridge freezer. It opens out into a dining room with direct access to a lower patio area.

On the upper floors are four bedrooms including a master with full-height sash windows and two Juliet balconies. There’s also a contemporary shower room and a family bathroom. At the rear of the freehold property is a landscaped contemporary garden together with off-street parking and gated side access.

By Bob Stonebridge • Also showing at Business Design Centre: Kapow!

Comic Convention, May 19 and 20.

Bromfield Street, Islington N1, guide price £1,795,000, Cluttons 020 7354 6666

“This outstanding newly refurbished house offers over 2000 sq ft of beautifully presented accommodation on a no-through road moments from Angel” Nick Moore, Cluttons

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LONDON PROPERTY

REVIEW

Watching the clock on Highbury Hill Highbury Clock Tower, on the corner of Highbury Hill and Church Path, was donated to Islington by Alfred Hutchinson in 1897 to celebrate Queen Victoria’s Diamond Jubilee.

Next to this Grade II listed monument of granite and cast iron, a two-bedroom end-of-terrace cottage in Mulberry

Court offers more than 600 sq ft of living space including a reception with dining area. It also has parking and a south-facing garden.

Mulberry Court, Highbury Hill, £725,000, Hotblack Desiato 020 7288 9696

Victorian house has more space Extra living space has been created at a fourbedroom Victorian house near Highbury Fields by extending at the rear of the property and into the loft.

The house in Liberia Road, midway between Highbury Fields and Highbury Grove, can offer a double reception, kitchen diner, two bathrooms, and an ‘unofficial’ roof terrace. Highbury & Islington station is less than a five-minute walk away.

Liberia Road, Highbury N5, £1,425,000, Carlton 020 7359 0000

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LONDON PROPERTY

Wall of metal An aluminium wall runs down one side of the main reception and kitchen, reflecting the light streaming in from the warehouse windows on two other sides.

Double doors open out from the living space onto a 23ft wide southfacing terrace at the loft-style apartment on Underwood Street, Hoxton. The home is on the first floor of the former commercial building known as The Factory.

The 1733 sq ft apartment features exposed brickwork and wooden

flooring, and a secure underground parking space is available.

The Factory, Underwood Street, Hoxton N1, £1,275,000, Currell Residential 020 7226 4200

Overlooking the square project With front sash windows looking out across Wilton Square, a three-storey Victorian house needs an owner who is looking for a renovation project.

Offering almost 1270 sq ft of inside space, the chain-free listed property is currently arranged as two to three bedrooms, a reception room, kitchen and study. There’s also a walled south-west-facing rear garden, 26ft long.

The house is now ready for modernisation. The front room has the potential to open up into the rear room – currently used as the kitchen – to create a through reception.

The front sash window has fixed shutters and a period fire surround.

Wilton Square, Islington N1, guide price £720,000, Hugh Grover 020 7226 1010

www.hughgrover.co.uk

REVIEW

325 Upper Street London N1 2XQ Tel: 020 7226 1010 Fax: 020 7226 0272

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ISLINGTON

Myddelton Square EC1 A rarely available garden maisonette within this Grade II listed terrace overlooking the highly sought after garden square. In a favoured position on the south side of the square and accessed via its own private street entrance, the property is well located for Sadler's Wells and Islington's extensive shopping facilities reception room with dining area | 2 bedrooms | bathroom | kitchen | garden

Guide price ÂŁ750,000 leasehold

Cleveland Road N1 A split-level maisonette arranged over the top two floors of an early Victorian house on this popular tree-lined road in East Canonbury. With its own private street entrance, the property boasts a bright and airy reception room, an eat-in kitchen together with the use of a private section of the west-facing rear garden reception room | 2 bedrooms | bathroom | kitchen | garden

Guide price ÂŁ550,000 share of freehold

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020 7354 6666 islington@cluttons.com

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ISLINGTON

Highbury Park N5 A superb flat with light and airy rooms, smart neutral decor, exposed brickwork and tall ceilings in an excellent location close to the green spaces of Highbury Fields. Arranged over the upper floors of a Victorian building, the property has been refurbished in a contemporary style by the current owners to give a modern "lofty" feel reception room | 2 bedrooms | bathroom | kitchen

Guide price ÂŁ379,950 leasehold

Sotheby Road N5 A beautifully presented garden flat within an attractive Victorian building on this sought after residential street in Highbury, close to the shops, cafes and deli's at Highbury Barn and within easy reach of Highbury Fields and Islington's Upper Street beyond reception room | bedroom | bathroom | kitchen | courtyard garden

Guide price ÂŁ350,000 leasehold

cluttons.com

020 7354 6666 islington@cluttons.com

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ISLINGTON

Alwyne Place N1

Cloudesley Square N1

A substantial maisonette arranged over the top two floors of an attractive period building in a prime Canonbury location reception room | 2 double bedrooms | 2 bathrooms | kitchen/breakfast room

A bright and spacious apartment on the top floor of a sought after mansion block in a prime location in central Barnsbury. The property has been well cared for and has a neutral and contemporary feel

£750 per week furnished/unfurnished

£675 per week furnished

Eclipse Building N1

Canal Building N1

A spacious warehouse conversion in a central location moments from Upper Street, with dual aspect views, high ceilings and wood floors reception room with open-plan kitchen | 2 double bedrooms | 2 bathrooms | lift | balcony

A spectacular warehouse conversion boasting in excess of 1,300 sq ft of entertaining space with many retained features reception room with open-plan kitchen | double bedroom (en suite shower room) | lift | porter

£675 per week unfurnished

£650 per week furnished

cluttons.com 34 Cluttons output.indd 34

reception room with open-plan kitchen | 3 bedrooms | bathroom

020 7354 6666 islington@cluttons.com

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ISLINGTON

Elliotts Place N1

Island Apartments N1

A beautifully presented house in a fantastic location close to Angel, flooded with natural light and boasting a secluded roof terrace reception room with open-plan kitchen | 2 bedrooms | bathroom | roof terrace

A beautifully presented second floor apartment in excellent condition and located in a sought after development reception room | 2 double bedrooms | 2 bathrooms | kitchen | balcony

£595 per week furnished/unfurnished

£575 per week furnished

Highbury Hill N5

Highbury Grove Court N5

A newly refurbished garden flat within a substantial period building at the favoured clock tower end of Highbury Hill reception room | 2 double bedrooms | bathroom | kitchen | utility area | communal garden

A bright second floor apartment within this popular mansion block, presented in a contemporary style and in very good order internally, further benefitting from double glazing

£550 per week furnished

£425 per week furnished

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reception room | 2 double bedrooms | bathroom | kitchen | lift access

020 7354 6666 islington@cluttons.com

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SALES

Canonbury Grove, N1 Situated in this attractive road within the Canonbury Conservation area, an elegant four floored semi detached Georgian house.

ÂŁ1,725,000 Freehold

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LET T I NGS

Avenel Road, N5 Refurbished one bedroom flat with large private terrace.

ÂŁ395 Per Week

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020 7226 1010 sales 325 Upper Street, London, N1 2XQ www.hughgrover.co.uk

Nelson Terrace, N1

£1,295,000 Freehold

St. Paul’s Road, N1

3 Bedrooms

Wilton Square, N1

1 Bedroom

£720,000 Freehold Unmodernised House

£325,000 Leasehold

Highbury Hill, N5

£695,000 Leasehold 3 Bedrooms

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020 7226 1010 sales 325 Upper Street, London, N1 2XQ www.hughgrover.co.uk

St. Paul Street, N1

£1,195,000 Freehold

Offord Road, N1

3 Bedrooms

Melville Place, N1

1 Bedroom

£349,950 Leasehold 1 Bedroom

£338,000 Leasehold

Gerrard Road, N1

£825,000 Leasehold 2 Bedrooms

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Harmood Grove NW1 A unique and secure development of 14 apartments £455,000-£599,000

Edward Mews NW1 Four storey townhouse minutes from Regents Park £1,550,000

Highbury Hill N5 Beautiful two bedroom flat on Highbury Hill £550,000

Compton Avenue N1 Newly created home finished to a particularly high standard £1,695,000

Hamilton Park West N5 Studio apartment in this quiet cul-de-sac £250,000

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Aberdeen Road, N5 A stunning example of a beautifully presented Victorian house £1200 per week

Cloudesley Square, N1 A beautiful house on this quiet square in Barnsbury £1400 per week

Highbury Hill, N5 A spacious first floor flat £325 per week

Highbury Grange, N5 An exceptionally large four bedroom upper maisonette £775 per week

St Pauls Road, N1 A great one bed flat with study £375 per week 41

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Bloomsbury SHOREDITCH CLERKENWELL SPITALFIELDS moorgate london fields

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LONDON PROPERTY

REVIEW

Balcony views from West City One An apartment on the second floor of the modern West City One development, close to Angel and the restaurants of Exmouth Market, delivers balcony views of London landmarks such as St Paul’s and The Shard.

Flexible living space of more than 1020 sq ft provides two or three bedrooms: a room off the reception could be used as a dining room or third double bedroom. There are two bathrooms, a separate fitted kitchen,

and wooden floors throughout.

West City One is a small portered development in Naoroji Street, north of Rosebery Avenue. Sadler’s Wells theatre and Angel tube station are a short walk away, and Kings Cross tube and the Eurostar trains of St Pancras are less than half a mile.

West City One, 6 Naoroji Street, Finsbury WC1, £795,000, Currell Residential 020 7253 2533

Now arriving at St Pancras – loft home is a high-spec platform Underground, overground and Eurostar services are right downstairs from a loft-style apartment to let in the St Pancras Chambers development.

Set on two floors, the one-bedroom apartment is part of the £200m makeover of the Grade 1 listed former Midland Grand Hotel at St Pancras mainline station. As tenant, you’ll enjoy discounted facilities at neighbouring St Pancras Renaissance London five-star hotel created behind Sir George Gilbert Scott’s spectacular Victorian Gothic façade.

The high-spec period conversion features hardwood floors, exposed wooden beams, high ceilings and original character. The bedroom has a dressing area and the home also offers plenty of storage and 24-hour porter services. You’ll find more porters on the platform.

St Pancras Chambers, Kings Cross WC1, £675 per week furnished or unfurnished, Callum Roberts 020 7242 9977

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LONDON PROPERTY

REVIEW

Nash house exhibits top specs at museum site From primitive stone tools of early man to contemporary prints, the British Museum in Great Russell Street houses more than eight million objects from the cultures of the world.

The Bloomsbury museum is currently displaying victory medals of the London 2012 Olympic and Paralympic Games, and in July stages a major exhibition on Shakespeare and his London, in collaboration with the Royal Shakespeare Company.

You can see the British Museum from a Grade II listed Georgian house for sale diagonally opposite on Great Russell Street, near the Montague Street junction. Its rear windows overlook Pied Bull Yard, where you’ll find Truckles wine bar and its Georgian courtyard.

Built in 1777, the house forms part of a blue plaque terrace recognised as the first work of architect John Nash.

It has five floors of luxury living space including a master bedroom suite with dressing room, and four more

bedrooms – two en suite. One of the bedrooms could be converted back into a self-contained unit with a private entrance, perfect for the au pair.

Five receptions – drawing room, dining room, reception room, media room and kitchen and family room – have high ceilings, wooden floors, builtin speakers and period features such as cornicing, sash windows and fireplaces.

Road-facing windows have secondary glazing, and the Poggenpohl kitchen has Miele appliances.

Among the high-spec contemporary comforts are Lutron lighting, Crestron entertainment system and airconditioning. The house has 3782 sq ft of inside space (including vault storage) plus terrace and patio.

And you’ll never be short of somewhere to visit on a Sunday afternoon.

By Bob Stonebridge Great Russell Street, Bloomsbury WC1, £3.8m, Hamptons 020 7236 8398

“This immaculately presented Georgian house has been beautifully designed to combine period elegance with high-spec contemporary features” Leon Stone, Hamptons City

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LONDON PROPERTY

REVIEW ORIGINAL

Improved by the current owners, a one-bedroom duplex apartment on the fourth and fifth floors of Willoughby House in the Barbican still has its original kitchen.

The 725 sq ft home at the Moorgate end of the estate includes a balcony and westerly views across the Barbican’s lakes and gardens.

You can walk to the Barbican’s restaurants, bars, cinemas, theatre and library.

Willoughby House, Barbican EC2, £515,000, Scott City 020 7600 0026

Go wild in the City at Savage Gardens Five newly refurbished apartments are set in the Square Mile in the development at Savage Gardens, a one-minute walk from Fenchurch Street mainline station or two minutes from Tower Hill tube.

A two-bedroom flat with a courtyard is on the basement and ground floors, and there are four onebedroom flats: one each on the first, second third and fourth floors.

Individually designed kitchens have high-gloss doors and integrated Neff appliances, and the contemporary white bathrooms include steel bath with glass screen.

The homes also have double-glazed windows, wood flooring in the living area, intruder alarm, and colour screen video door entry.

London attractions such as the Tower of London, Tower Bridge, and Spitalfields Market are all close by.

Savage Gardens, City EC3, two-bed £774,950, one-bed from £394,950, Hamptons 020 7236 8398

Loving the lido and market Love your local lido, like the Olympic-length heated outdoor pool at London Fields that’s an easy walk from a four-bedroom house in tree-lined St Philip’s Road. The organic food and other attractions of Broadway Market are also handy and will tempt you every Saturday.

The Victorian terraced property combines original features with highend contemporary fixtures. A double through reception has high ceilings, original cornicing, stripped wood flooring, fireplaces and window shutters.

A kitchen and dining area with bespoke fittings offers a second entertaining space with bi-folding doors to a 58ft rear garden.

St Philip’s Road, London Fields E8, £1.2m, Stirling Ackroyd 020 7749 3807

High life at Barbican High up on the 27th floor, a three-bedroom apartment to let in Lauderdale Tower has spectacular views to the north and west across the capital. Landmarks on view include the BT Tower, London Eye, and Wembley and Emirates stadiums.

The main living area leads to a large balcony, and the Barbican property still has its original stainless steel kitchen and white-tiled bathrooms. They are said to be in excellent condition too.

Lauderdale Tower, named after the Earl of Lauderdale and completed in October 1974, is the most westerly of the three Barbican towers. The other two are Cromwell and Shakespeare.

Lauderdale Tower, Barbican EC2, £775 per week unfurnished, Scott City 020 7600 0026

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Scott City FP_Layout 2 24/08/2011 14:59 Page 1

specialists in property sales & lettings in the

City of London

Hosier Lane, West Smithfield EC1

£365,000

Bryer Court, Barbican, EC2Y

£345 PER WEEK

Willoughby House, Barbican, EC2

£515,000

Brook Court, Monument, EC4R

£875 PER WEEK

Brook Court, Cannon Street, EC4

£675,000

High Holborn, Holborn, WC1V

£865 PER WEEK

Studio Apartment, 7th Floor, Pull Down Bed, Wet Room, Balcony, 24 Hour Porterage, Close to St Pauls

One Bedroom, Duplex Apartment, Original Kitchen and Bathroom, Balcony, West Aspect, Close to Moorgate Underground Station

Open Plan Duplex Apartment, Two Shower Rooms, Wood Flooring, Fitted Kitchen, Period Property, Two Bedrooms, Close to Cannon Street station.

Large style studio apartment, furnished, first floor, balcony. West aspect, re-fitted kitchen. Security entrance. Close to Barbican tube. Available immediately.

Two bedroom house, over 5 floors. Two bathrooms. Unfurnished, recently redecorated. Modern kitchen, large living area. Available immediately.

Three bed, three bath apartment. Balcony, concierge. Wood flooring, modern fitted kitchen. Furnished, air conditioning. Available immediately.

122 Newgate Street London EC1A 7AA +44 (0)20 7600 0026 www.scottcity.co.uk Email: property@scottcity.co.uk Scott City FP 1

47 24/04/2012 14:26

Currell Residential Goswell Road, EC1 £995,000 Share of Freehold

Capture this on your smart phone for the internet link

• Extensive roof terrace • Two double bedrooms • Secure gated development • Quiet location

Naoroji Street, WC1 £795,000 Leasehold

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• Two/three double bedrooms • Approx 1020 sq/ft • Secure parking • Balcony

Provost Street, N1 £715,000 Share of Freehold

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• Two/three double bedrooms • Mezzanine study area • Fourth floor (with lift) • Large storage room Visit us online

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Clerkenwell 122/124 St John Street Clerkenwell, London EC1V 4JS

Margery Street, WC1

£475,000 Share of Freehold

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• Two double bedrooms • One bathroom • Patio garden • Approx 728 sq/ft

Glasshouse Yard, EC1

£695 Per Week

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• Spacious two bedroom apartment • Two bathrooms • Approx 1000 sq/ft • Close to the City

Goswell Road, EC1

£465 Per Week

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• Stunning one bedroom apartment • Contemporary finish throughout • Close to the City • Moments from Barbican Station Telephone

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All around the City

E1

E8

£550,000

£1,200,000

Shoreditch Sales: This well-presented and enviably located two bedroom flat benefits from neutral décor, wood floors and high ceilings throughout.

Hackney Sales: Stunning 4 double bedroom Victorian terraced house with a wealth of original features.

Immaculately presented throughout.

SE1

WC1

£749,950

£695,000

Bankside Sales: 1,117 SqFt 2 bedroom flat acquiring an abundance of period features which sits beautifully with high quality contemporary design.

Clerkenwell Sales: In an enviable location close to Lincoln’s Inn Fields this 3 bed second floor flat provides 2 bathrooms, a reception room & a separate kitchen.

HACKNEY 020 7749 3807

BANKSIDE 020 7940 3888

SHOREDITCH 020 7749 3838

CLERKENWELL 020 7549 0606

HAMPSTEAD/SJW 020 7748 5224

IBIZA 00 34 971 32 67 88

ISTANBUL 0090 212 322 7171

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EC2

E8

£750 pw

£360pw

Shoreditch Lettings: Stunning, bright 1000+ sq ft 2 bed penthouse perfect for entertaining with tremendous living space, a full width terrace and superb finish throughout.

Hackney Lettings: Beautifully presented 2 bed, 2 bath apartment featuring wood flooring throughout, spacious reception room, under floor heating and a stunning fully integrated kitchen.

SE1

EC1

£465pw

£650pw

Bankside Lettings: Stunning 2 bed 2 bath comprising an open plan reception kitchen, integrated appliances, tiled floor & under floor heating, finished to a very high standard.

Clerkenwell Lettings: 1450 sq ft 2 bed loft apartment within a converted warehouse. Providing an amazing amount of light & space thanks to its contemporary open plan design.

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LONDON PROPERTY

REVIEW

citydirectory Savills Islington 94-96 Upper Street, London N1 0NP

Islington Cluttons Islington 6 Camden Walk N1 8DY

 020 7226 1313  islington@savills.com

www.savills.com  020 7354 6666  islington@cluttons.com

www.cluttons.com

City

Currell Islington 321 Upper Street Islington N1 2XQ 020 7226 4200 islington@currell.com www.currell.com 



BLOOMSBURY

PROPERTY SERVICES  020 7831 1191

www.currell.com

s

 info@bloomsburyprops.co.uk

www.bloomsburyprops.co.uk

Currell New Homes Islington House, 313 Upper Street, Islington N1 2XQ  020 7226 6611  newhomes@currell.com

Bloomsbury Property 98 Gray’s Inn Road WC1X 8AJ

callum roberts

Callum Roberts 40 Theobalds Road London WC1X 8NW  0843 473 9235  info@callumroberts.com

www.callumroberts.com

Chesterton Humberts 327-329 Upper Street Islington N1 2XQ

Currell Clerkenwell 122/124 St John Street Clerkenwell EC1V 4JS

 020 7359 9777  sales.islington@chestertonhumberts.com

 020 7226 6611  clerkenwell@currell.com

www.chestertonhumberts.com

www.currell.com

Hamptons Islington 97-99 Upper Street Islington N1 0NP

Currell Hackney Quebec Wharf, 311-313 Kingsland Road, Hackney E8 4DL

 020 7717 5103  islington@hamptons-int.com

 020 7241 4111  hackney@currell.com

www.hamptons.co.uk

www.currell.com

Hugh Grover Associates 325 Upper Street Islington N1 2XQ

Currell Victoria Park 81 Lauriston Road Victoria Park E9 7HJ

 020 7226 1010  sales@hughgrover.co.uk

 020 3222 5555  victoriapark@currell.com

www.hughgrover.co.uk

www.currell.com

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LONDON PROPERTY

REVIEW Visit these agents for properties in the City, Islington and Docklands Hamptons City Aldermary House, 15 Queen Street, London EC4N 1TX

Knight Frank 35a Wapping High St, London E1W 1NR

 020 7717 5293  city@hamptons-int.com

 020 7480 6848  wapping@knightfrank.com

www.hamptons.co.uk

www.knightfrank.co.uk

Knight Frank 18-19 Cabot Square, Canary Wharf, London E14 4QW

Docklands Bushells Docklands 7 Wapping High Street Wapping, London E1W 1LS

 020 7512 9966  cwharf@knightfrank.com

www.knightfrank.co.uk

 020 3515 0011  docklands@bushells.com

www.bushells.com

Dawn Sandoval Residential Ltd Dawn Sandoval Residential Sales - Lettings - Property Management

 020 7093 1702  dawn@dawnsandovalresidential.co.uk

Landmark 264 Westferry Road, London E14 3AG  020 7515 0800  info@lmlondon.com

www.lmlondon.com

www.dawnsandovalresidential.co.uk

FJ Lord 4 Copper Row, Tower Bridge Piazza, Shad Thames SE1 2LH  020 7089 6490  shad.thames@fjlord.co.uk

Savills Canary Wharf 4 Westferry Circus, London  020 7531 2500  canarywharf@savills.com

www.savills.com

www.fjlord.co.uk Henry Wiltshire 2 Laybourne House, Admirals Way london E14 9UH  020 7001 9160  kelly@henrywiltshire.co.uk

www.henrywiltshire.co.uk

Savills Docklands 80 Wapping High Street, London  020 7456 6800  docklands@savills.com

www.savills.com

Hamptons Tower Bridge 41 Shad Thames London SE1 2NJ

Winkworth Surrey Quays Surrey Quays Shopping Centre SE16 7LL

 020 77175124  towerbridge@hamptons-int.com

 020 7237 9119  surreyquays@winkworth.co.uk

www.hamptons.co.uk

www.winkworth.co.uk

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SHAD THAMES WAPPING ISLE OF DOGS CANARY WHARF LONDON BRIDGE Bermondsey ROTHERHITHE

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Open gateway to the White House Ornamental wrought iron gates on tall white stone pillars open out into the gravel driveway – big enough for five cars – of a six-bedroom house on Shooters Hill Road.

Stone steps lead up to the white front door and porch, or there’s a second entrance with steps down to the lower ground floor, which could be used as a self-contained flat for nanny, granny or grown-up offspring.

Handy for everything Blackheath and Greenwich have to offer, this period property has almost 4300 sq ft of versatile space on five floors.

That big white front door leads to a large reception, a dining room overlooking the garden, and a fulllength kitchen and dining room also

facing the garden.

The master bedroom has an en suite bathroom and dressing room, and the main guest bedroom with en suite bathroom could be divided into two rooms, as before. There’s also a family shower room and a private terrace.

Doors from both the raised and lower ground levels open out into the 54ft rear terraced garden featuring mature trees, flowering borders and shrubs. Perfect for summer barbecues.

Shooters Hill Road, Blackheath SE3, £2.2m, Savills Canary Wharf 020 7531 2500

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LONDON PROPERTY

REVIEW

Dazzling dramatic images on the screen or terrace Spectacular panoramic views taking in St Katharine Docks, Tower Bridge and the Thames are served from a penthouse apartment to let on the top two floors of Cormorant Lodge.

The three-bedroom property in St Katharine Docks features a seventh floor living and entertaining space containing a fully integrated surround sound system and home cinema with a giant screen. Watch the latest Stephen Spielberg blockbuster with the city lights twinkling at your floor-to-ceiling windows.

This space has a wraparound balcony and terrace, and the adjoining dining and sitting room opens out onto the main terrace, around 24ft square.

The bespoke kitchen leads to another

terrace, 25ft wide.

Bedrooms and two en suite bathrooms are below on the sixth floor. Total inside floor space is 2832 sq ft and the property in the City Quay development includes air conditioning, underfloor heating, 24-hour concierge service, and a secure underground parking space.

Waitrose St Katharine Docks is next door in Thomas More Street, and the City, Southbank and Shad Thames are all nearby, as well as Tower Hill tube and DLR stations.

Cormorant Lodge, St Katharine Docks E1, guide price £2500 per week, Knight Frank Wapping 020 7480 6848

“This impressive penthouse in the highly sought after City Quay development has a fabulous roof terrace with views over the docks and river” Gary Hall, Knight Frank Wapping

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LONDON PROPERTY

REVIEW

Light symphony SAFE HAVEN

A two-bedroom, twobathroom apartment is available to let on the second floor of the new development at Haven Way, off Grange Road in Bermondsey.

Finished to high specifications, the contemporary home includes an open plan reception and kitchen with integrated appliances, tiled floor, underfloor heating, and a balcony.

The master bedroom has an en suite bathroom, and the property has 24-hour concierge services and a secure parking space (available separately).

Haven Way, Bermondsey SE1, £465 per week, Stirling Ackroyd 020 7940 3888

Trinity Church Square is named after Holy Trinity Church, a no-longer-redundant classical revival church now used for recordings and rehearsals of leading London and visiting classical orchestras.

The restored and revived church, London’s first purpose-built home for orchestral rehearsals, now serves the musical world as the Henry Wood Hall, which staged its opening concert to an invited audience in 1975.

Currently for sale in a Grade II listed building (like the former church) on the Georgian square near Borough Market is a two-bedroom duplex apartment. The 1280 sq ft home is said to be one of the largest conversions

in this conservation area and can offer a symphony of natural light, entertaining space and period features.

A separate kitchen with integrated appliances leads to the generous mezzanine reception with a spiral staircase to an upper reception or office. The master bedroom has an en suite bathroom and dressing area, and a terrace has superb views of The Shard. There are sash windows with shutters, high ceilings, and street parking.

Trinity Church Square, Borough SE1, £1.1m,Field & Sons 020 7407 1375

Moving to Alaska for warehouse style Alaska Building, originally the London warehouse of Alaska Furs, was one of the first such warehouses to be converted into loft apartments in the 1980s.

Architects Wallis Gilbert and Partners, who also designed the Hoover Building in West London, created the existing art deco structure behind the original brick entrance gates.

A two-bedroom first floor flat in the building offers 1117 sq ft of space and a 20ft high ceiling. Original warehouse features blend with contemporary design, and there’s an allocated parking space.

The development has landscaped gardens and 24-hour concierge. Bermondsey Square and the bars and restaurants of Bermondsey Street are a five-minute walk away.

Alaska Building, Grange Road, Bermondsey SE1, £749,950, Stirling Ackroyd Bankside 020 7940 3888

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LANDLORDS

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WE have the tenants YOU have the keys

Demand for rental properties is currently outstripping supply and in some parts of London we are seeing over 10 applicants for every property We urgently need properties to let in all central London locations We can guarantee you better quality tenants than anyone else

Association of Residential Letting Agents

Nine offices open six days a week: Beaufort Park | Canary Wharf | City | Hampstead | Highgate Hyde Park | Imperial Wharf | Kensington | Knightsbridge

Call us now on 0800 092 9656 or email info@brlets.co.uk or visit www.brlets.co.uk 59 BRL DPS.indd 2

25/04/2012 10:14

FIELD & SONS Surveyors, Valuers & Estate Agents Est. 1804

Trinity Church Square, SE1 Stunning Grade 11 Listed, 2 double bedroom duplex within a delightful Georgian square. £1,100,000

Hatters Court, SE1 Stylish 3 bedroom split-level conversion in a small, private development. Great entertaining space of over 1400 sq ft and use of a communal courtyard. £835,000

Marbles House, SE1 Smart 4 bedroom duplex, penthouse apartment over the top 2 floors extends to over 2000 sq ft with wonderful views of the London skyline. £799,950

St Augustines Court, SE1 Beautiful 2 bedroom church conversion close to Bermondsey & Southwark Park. This apartment is part of a Grade 11 listed conversion. £399,950

The Priory, Webber Street, SE1 Smart 1 bedroom raised ground floor flat within a period building, close to Blackfriars Road, Southwark tube station and the Southbank. £299,950

Surrey Square, SE17 Charming 1 bedroom lower ground floor flat within a period house located close to the Elephant & Castle & within a short bus ride of London Bridge. £229,950

Borough Office 020 7234 9633

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www.fieldandsons.co.uk 25/04/2012 11:05

FIELD & SONS Surveyors, Valuers & Estate Agents Est. 1804

Millennium Square, E14 3 Bedroom Penthouse with a vast wrap-around terrace and views of the O2 Arena.

£1,100,000

Providence Square, SE1 Stunning 2 bedroom 2 bath boasting views of the River Thames and a 24 Hour Concierge. £765,000

Tower Bridge Buildings, SE1 2 Bedroom flat for sale on the fringe of Shad Thames, SE1. £425,000

Millpond Estate, SE16 A well proportioned 3 bedroom maisonette within a stones throw of the rivers edge and Bermondsey Tube Station. £279,950

Arnold Estate, SE1 Bright and airy 1 bedroom apartment located within a short walk of Shad Thames, London Bridge and The Southbank. £230,000

Donkin House, SE16 Smart and well presented 1 bedroom raised ground floor apartment ideal for first time purchase or rental investment. £175,000

Shad Thames Office 020 7403 8571

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FIELD & SONS Surveyors, Valuers & Estate Agents Est. 1804

BOROUGH OFFICE

New Globe Walk, Bankside, SE1 Superb 2 bedroom, 2 bathroom, 1st floor warehouse conversion. This apartment is just opposite the Globe Theatre, beautifully furnished throughout, £725 per week available immediately.

Roupell Street, Waterloo, SE1 Superbly presented 3 bedroom Victorian house. This is a rare opportunity to rent a house within walking distance to Waterloo station. Available unfurnished now. £695 per week

Butlers Wharf, SE1 This stunning 4 double bedroom lateral apartment boasts unrivalled views of Tower Bridge and the River Thames from its large balcony as well as a 24 hour concierge and a secure parking space. £1150 per week

Bermondsey Street, SE1 A large open plan Admirals Court, SE1 A Spacious modern 2 penthouse apartment with a vast wrap around bedroom duplex apartment situated in the heart terrace offering panoramic views over London. of Shad Thames and offers secure underground

parking and a day concierge.

£800 per week

£575 per week

Tanner Street, Bermondsey, SE1 Two bedrooms, reception with open plan fitted kitchen, two bathrooms and balcony. Conveniently located close to Bermondsey Street. Offered unfurnished and available now. £480 per week

Blue Court, Islington, N1 The accommodation at this modern block comprises reception room, open plan fitted kitchen, double bedroom and bathroom.

Located on the third floor and offered furnished.

Available mid May. £320 per week

SHAD THAMES OFFICE

Marshalsea Road, SE1 Beautiful 2 bedroom, 2 bathroom apartment within a Victorian warehouse conversion. Spacious reception room with open-plan kitchen, located on the top, access to a private roof terrace. Unfurnished. Available now. £575 per week

CITY & EAST LONDON OFFICE

Borough Office 020 7234 9633

62 Field Lettings DPS.indd 1

Kennington Office 020 7840 0666

The Sphere, Canning Town, E16 Reception room with balcony open to fitted kitchen, two double bedrooms and two bathrooms. Close to the Jubilee Line at Canning Town, two stops to Canary Wharf.

Unfurnished, available immediately. £300 per week

Shad Thames Office 020 7403 8571

City & East London Office 020 7790 9832

www.fieldandsons.co.uk 25/04/2012 11:31

FIELD & SONS Surveyors, Valuers & Estate Agents Est. 1804

Portland Court, Trinity Street, SE1 Well presented 2 bedroom, 2 bathroom apartment situated in a highly sought after development. 2 large double bedrooms, reception room with access to private patio area. £435 per week Furnished and available now.

Maidstone Buildings Mews, SE1 Charming top floor warehouse apartment within one of Borough’s premier developments off Borough High Street and close to London Bridge station. Available 1st July £425 per week 2012.

Devon Mansions, Tooley Street, SE1 Stunning 1 bedroom fourth floor flat in a mansion block close to London Bridge. Tastefully modernised, however character features remain. Furnished. Available 22nd £340 per week May 2012.

Trinity Church Square, SE1 This stunning Georgian Conversion apartment is the ideal property for a couple or professional sharers who wish to be within a stones throw of the city.

£485 per week

Falmouth Road, SE1 A spacious 2 bedroom 1 bathroom flat located within the idyllic Trinity Church Sq conservation area offering spacious accommodation within easy walking distance of London Bridge and the City. £375 per week

The Circle, SE1 This quietly located 1 bedroom apartment offers bright and airy accommodation within one of Shad Thames most prominent and architecturally iconic developments.

£340 per week

Sherwood Gardens, Isle Of Dogs, E14 Reception room with dining area, separate kitchen, two double bedrooms and bathroom with bath/shower. Situated a mile from Mudchute DLR station. Offered furnished and available now. £300 per week

Rope Street, Surrey Quays, SE16 One double bedroom first floor flat situated in a popular area with views onto South Dock Marina. Reception, separate kitchen, double bedroom and bathroom.

Furnished. Available mid May. £285 per week

Boulcott Street, Limehouse, E1 A one bedroom flat located on the third floor of this private gated development. Open plan kitchen with reception, bathroom and double bedroom. Offered furnished and available now. £250 per week

Borough Office 020 7234 9633

Kennington Office 020 7840 0666

Shad Thames Office 020 7403 8571

www.fieldandsons.co.uk Field Lettings DPS.indd 2

City & East London Office 020 7790 9832

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Shooters Hill Road, SE3 OIEO ÂŁ2,000,000 Incredibly edible 6 double bed home, infused with tasty 1 bed apartment beneath. Gratifying square footage of around 4,237ft and delectable location in Blackheath close to top performing schools.

64 Roy Brooks DPS.indd 1

For sales call Felicity, Stacy, Colin and Elaine 25/04/2012 10:35

“... because reputation matters.”

020 8299 3021 | roybrooks.co.uk

Camberwell Grove, SE5

£1,660,000

Magnificent GII listed Georgian monster circa 1790. Chock-full with original features, 5/6 bedrooms, 3/4 receptions, 5 floors and garden with side access. Potential for basement flat (with separate access) and OSP. On the best street in the area and close to Denmark Hill trains.

Pepys Road, SE14

£985,000

Fancy 5 bed (all doubles) and huge basement opposite glorious Telegraph Hill. Impressive double frontage with panoramic views from the front of the house, 2 receptions, study, utility and downstairs cloak. Close to Haberdashers’ Aske’s and Zone 2 trains. Chain free.

For lettings call Kelly and Mel Roy Brooks DPS.indd 2

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Avant-Garde, E1 £425,000 Leasehold

Pan Peninsula, E14 £650,000 Leasehold

• • • •

• • • •

Luxury one bed, 6th floor apartment Beautifully designed, excellent location 24hr concierge, gym & terrace Completing late 2013

Two bed, 28th floor apartment Luxury fixtures and fittings 24hr concierge, gym & spa Allocated parking, South Quay DLR

Landmark East, E14 £700,000 Leasehold

Millharbour, E14 £2,200,000 Leasehold

• • • •

• • • •

Two bed, 41st floor apartment Panoramic views, good sized balcony 24hr concierge, gym Allocated parking, Canary Wharf DLR

Four bed, four bath penthouse 14th floor, 2548 sq ft, Two west facing terraces and balcony Two parking spaces. VIEWING ESSENTIAL!

11 Westferry Circus, Canary Wharf, London E14 4HD

JLL DPS.indd 1

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020 7715 9700

joneslanglasalle.co.uk

Craig Tower, E3 • • • •

Landmark West • • • •

Duplex Apartment Two bedrooms, one bathroom Terrace South Quay DLR

St David’s Square • • • •

£350pw

One Bedroom One Bathroom 24 Hour Concierge Luxury Apartment South Quay DLR

Manchester Road • • • •

£280pw

One Bedroom, One Bathroom Roof Terrace Concierge Langdon’s Park DLR

Baltimore Wharf • • • •

£345pw

Two Bedrooms, Two Bathrooms Balcony and Garage Concierge Blackwall DLR

Adriatic Building • • • •

£360pw

Brand new Apartment One Bedroom, One Bathroom Stunning Dock Views Next to Crossharbour DLR

Boardwalk Place • • • •

£320pw

One bedroom, Two bathroom Allocated Parking Leisure Facilities Island Garden DLR

Iona Tower • • • •

£450pw

£380pw

Brand new Apartment Two Bedrooms, Two Bathrooms Balcony Limehouse DLR

Pierpoint Building • • • •

£340pw

Luxury Apartment One bedroom, One Bathroom Balcony Limehouse DLR

£1,100pw

Four Bedrooms, Three Bathrooms River Views Residents Gym 24 hour Concierge

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