Mayfair Flats & Houses For Sale & Rent

W2 Apartment For Rent, Kendal Street, Marble Arch

noreply@blogger.com (London Estate Agents) — Wed, 01 Feb 2012 21:15:00 +0000

Kendal Street, Marble Arch, London, W2

We offer a beautiful one double bedroom first floor apartment within a period conversion set close to the West End. Benefits include a bright reception room, open plan fitted kitchen with some appliances, ensuite shower room with wc, available Now, unfurnished or part furnished.

Central London Property for Rent

Central London Property Market Attracts The Cash Rich

noreply@blogger.com (London Estate Agents) — Mon, 30 Jan 2012 12:41:00 +0000

Investment from overseas is continuing to drive the housing market in the heart of London.

This is according to Naomi Heaton, chief executive of London Central Portfolio, who believes that the financial security of homes in the capital appeals to cash-rich foreign investors more than in other European cities.

"Inevitably, foreign buyers will dominate by virtue of the fact that there are far more wealthy people globally, than there are located in the UK," she said.

"London Central is increasingly seen as a safe haven market which offers capital preservation with long-term upside potential."

And it seems the figures back up her claims.

Recent statistics released by the Royal Institution of Chartered Surveyors (RICS) show that nationally property values have seen a slight decrease. But London has continued to buck the trend.

There's also good news for landlords in London as HomeLet's Rental Index for November showed that in some parts of the capital, rental values are 80 per cent greater than the national average.

London Property Market News

Property Millionaire Numbers Rising

noreply@blogger.com (London Estate Agents) — Tue, 10 Jan 2012 13:21:00 +0000

This year has seen the number of property millionaires rise by 26,744.

According to online valuation service Zoopla.co.uk, luxury properties have continued to rise in value and there are now more people owning homes worth £1 million or more than ever.

The rise means that effectively 73 new property millionaires have been created each day in 2011.

In total there are now 253,118 homes valued at more than £1 million in the UK and the largest rise property millionaires came in London, where the number grew by 18 per cent over the past 12 months.

London is also where nine of the top ten millionaire districts in Britain are located. Kensington has the highest proportion with 56 per cent of all homes being worth more than £1 million.

Nick Leeming of Zoopla.co.uk said: "This data shows clearly how differently the top end of the market is performing from mainstream Britain."

The Knight Frank Prime London Sales Index showed that prime London property rose in value by 13 per cent in 2011.

London property Market News

Kensington Flats & Houses For Sale & Rent: American Airlines Kensington Property to go on the...

noreply@blogger.com (London Estate Agents) — Fri, 16 Dec 2011 16:09:00 +0000

Kensington Flats & Houses For Sale & Rent: American Airlines Kensington Property to go on the...: Prowling through the bankruptcy papers filed by American Airlines last month makes for an interesting read, especially when you get to the b...

New European Treaty Financial Transactions Tax Imp...

noreply@blogger.com (London Estate Agents) — Fri, 09 Dec 2011 09:46:00 +0000

Holland Park Flats & Houses For Sale & Rent: New European Treaty Financial Transactions Tax Imp...: Forbes Magazine Reports ; It’s true that President Sarkozy and Chancellor Merkel don’t in fact phrase it quite this way but that is indeed t...

Off Plan Prime London Residential Property Targeted By Cordea Savills Fund

noreply@blogger.com (London Estate Agents) — Mon, 28 Nov 2011 12:27:00 +0000

Reuters reports that Cordea Savills, the fund management arm of British real estate consultancy Savills PLC, has launched a 150 million pound fund that will buy prime London homes, giving Asian investors an alternative way to invest in the sector.

Interest in London residential property has been on the rise in recent months among investors from China, Hong Kong and Singapore, spurred in part by state-led measures to cool real estate markets in Asia.

At the upmarket One Hyde Park development, for instance, Asian investors accounted for 30 percent of buyers.

Cordea Savills' new fund is expected to benefit from the strong Asian interest in London, and indications of interest have been strong so far, said Brian D'Arcy Clark, head of its residential acquisitions, especially on the back of strong demand from Chinese buyers.

"There's very good evidence that Chinese investors want to invest in London and there's pent-up demand from high-net-worth individuals from China to come into London," Clark said.

Cordea Savills expects its fund to see net returns of about 18-20 percent a year, and said investors who are keen on the fund will need to put in a minimum of 200,000 pounds.

The fund, which closes in January, will invest in London property by forming joint ventures with developers and by committing to acquire apartment units before construction to get better prices, Cordea Savills said.

Investing in the fund would allow investors greater diversification and higher potential returns as the fund would be able to acquire assets in bulk and thus at better discounts, Clark said.

Prime Central London Property Boom

noreply@blogger.com (London Estate Agents) — Sat, 19 Nov 2011 11:48:00 +0000

Super-prime new homes in London are expected to achieve record values of up to £10,000 sq ft within the next five years, fuelled by an influx of wealthy overseas investors and lack of housing supply, reports Whathouse.

The recent boom in prime central London property prices has benefitted homes in premium locations like Mayfair, Chelsea and Knightsbridge, with prices rising from £1,000 sq ft in 2000 to over £7,500 sq ft, as achieved for new build apartments at One Hyde Park - believed to be the most expensive price for any home in the world.

But while most property experts project that property prices will generally fall nationwide in the short to medium term, Knight Frank believe that the market in prime central London looks ripe for further growth, with values expected to reach a staggering £10,000sqft in the most exclusive new developments by 2016. This is partly because there is a lack of land available for the construction of new homes in prime London.

Liam Bailey, head of residential research, said: "In key markets like London the availability of top-end developments that attract wealthy international purchasers is still very limited. The opportunity for developers to capitalise on this market is therefore a real option."

Jumeirah Group to Operate Grosvenor House Apartments in London

noreply@blogger.com (London Estate Agents) — Mon, 14 Nov 2011 09:55:00 +0000

Jumeirah Group, the Dubai-based luxury hotel company and a member of Dubai Holding, has signed a Management Agreement with Grosvenor House Apartments Limited, a wholly owned subsidiary of Park Lane Properties Limited, to operate its luxury apartments in London

Westminster Parking Permits Now Available at The Post Office

noreply@blogger.com (London Estate Agents) — Thu, 10 Nov 2011 11:26:00 +0000

Westminster City Council has launched a ground-breaking scheme which will enable residents to pay for a far greater range of services at the Post Office.
The new agreement means residents can now pay for everything from parking tickets to council tax at the Post Office, as well as expanding the number of payment points (from 3 to 26) for residents wishing to pay for a range of services by cash or cheque.

The innovative deal has sparked interest from the Employment Relations, Consumer and Postal Affairs Minister Edward Davey who said: “This is a great example of a local authority thinking outside the box to improve the quality of its payment services for residents. This is a role model I would like to see replicated across the country.”

Westminster cabinet member for customer services and transformation Cllr Melvyn Caplan said: “This innovative deal with the Post Office will give Westminster residents more choice of where to make their cash or cheque payments across the borough. The fact residents can pay a wide range of services in one spot – everything from council tax to parking permits – also increases convenience and efficiency.”

The Post Office’s head of regulation strategy Mike Granville added: “We are pleased to bring on board Westminster City Council, which joins the large number of companies that already trust and rely on the Post Office to manage payments services on their behalf. Innovative contracts like this deliver access and convenience to the customers of the council’s services as well as ensuring that more people come through the doors of our Post Office branches, which will help to sustain our valuable branch network into the future.”

Will London property retain ‘safe haven’ status?

noreply@blogger.com (London Estate Agents) — Wed, 02 Nov 2011 13:17:00 +0000

Knightsbridge Flats & Houses For Sale & Rent: Will London property retain ‘safe haven’ status?: Manager says investors are ‘sitting on their hands’ in the UK property investment trust sector, despite attractive dividend yields. As the ...

Overseas Buyers Make Up 65% of Market in Central London Neighbourhoods

noreply@blogger.com (London Estate Agents) — Fri, 28 Oct 2011 09:04:00 +0000

Sales of London’s most expensive homes reached a record as foreign buyers dominate the city’s luxury residential market, Savills Plc (SVS) said.The number of houses and apartments that sold for more than 5 million pounds ($8 million) rose to 262 from 200 in the nine months through September, 31 percent more than a year earlier, the real-estate broker said today in an e-mailed report, reports Bloomberg.

Overseas buyers make up 65 percent of the market for homes costing more than 5 million pounds, according to the report. The costliest purchases remain concentrated in central London neighborhoods such as Belgravia, Knightsbridge and Mayfair, said Lucian Cook, Savills’s director of residential research.

“Knightsbridge and Belgravia have a high proportion of London’s best-performing flats,” Cook said in the report. “Mayfair has seen significant levels of capital investment and improved amenities which have underpinned price growth.”

International buyers are investing in London homes to protect wealth amid financial or political volatility at home. Europe’s sovereign-debt crisis may be worse than the Great Depression, according to Bank of England Governor Mervyn King, and uprisings in countries including Libya, Syria and Egypt have cost a total of $55.84 billion, consultant Geopolicity Inc. said today in a report.

Mayfair Described in the Gulf News

noreply@blogger.com (London Estate Agents) — Tue, 18 Oct 2011 09:06:00 +0000

While offering many peaceful pockets, it is also an exciting and interesting place to live, especially for the more sophisticated homebuyer, as it boasts some of London’s best eateries, shops and entertainment establishments.

Shopping in Mayfair still retains a village-like atmosphere. You will find small antique shops, art galleries, the famous Hayward & Hill bookshop, first-class florists and the Mount Street Deli. This is all complemented by the boutique shopping to be found in Mount Street and Bond Street where the very best designer clothes, shoes, jewellery and art can be found. Mayfair residents are spoilt for choice in terms of restaurants, many of which, like Nobu and Scotts, are Michelin-starred.

The best clubs in London, including Annabel’s, Mark’s Club and Harry’s Bar, also happen to be located here, and The Bar at Claridges is always the place to be seen in the city.

The Mayfair Hotel and the Grosvenor Hotel have excellent health clubs. For something different, the Spatisserie at the Dorchester combines the latest spa treatments with afternoon tea.

Mayfair is fortunate to be bounded by two spectacular parks. Hyde Park lies to the West and Green Park to the South, leading directly into St James’ Park. Berkeley Square is also open to the public as is Grosvenor Square. Properties on these squares rarely hit the market but when they do, they command premiums.

Popular streets include Upper Brook Street and Charles Street for the grandeur of buildings, the wonderful period features and huge reception rooms, Chesterfield Hill for its stunning facades, and Hays Mews for its charm and peace.

Mount Street offers some of the best amenities in Mayfair with its many quirky shops and restaurants, following recent regeneration. Grosvenor Square, Berkeley Square and Park Lane have some of the best views in the Mayfair neighbourhood.

To give an idea of price, for a standard-size family house, the average price this year is close to £4.5 million (Dh25.5 million) as compared to just over £2.5 million (Dh14.1 million) five years ago. On average you would have to pay £1.87 million for a two-bedroom flat compared to just over a £1 million five years ago. According to our recent research, the highest price per square foot for a penthouse flat was in excess of £4,000 per square foot.

Suffice to say, you certainly pay for the privilege of living in one of London’s most exclusive enclaves, but it’s a safe, long-term investment, in both a financial and lifestyle sense.

Gulf News

Mayfair Property Sale by Syrias Assad Family

noreply@blogger.com (London Estate Agents) — Fri, 07 Oct 2011 08:43:00 +0000

A multi-million-pound property empire that includes flats and houses in London is being sold off and turned into hard cash by members of Syria's ruling Assad family, it has emerged.

Properties include a 10 million pounds town house in Mayfair bought by Rifaat al-Assad, the so-called Butcher of Hama, who is accused of leading a massacre of up to 40,000 people 30 years ago.

His nephew, Bashar al-Assad, the president of Syria, is leading a ruthless and bloody campaign against pro-democracy campaigners. The UN human rights office on Thursday raised the tally of people killed during seven months of unrest to more than 2,900.

The sale of the property empire suggests that the Assads are liquidating their assets in case the regime is forced from power. London property belonging to the toppled dictators Colonel Muammar Gaddafi of Libya, Hosni Mubarak of Egypt and Zine el-Abidine Ben Ali of Tunisia, was seized soon after they fell.

Westminster Council Gearing Up for Unprecedented Demand on Services

noreply@blogger.com (London Estate Agents) — Thu, 15 Sep 2011 15:54:00 +0000

Ordinary workers could be trained in welcoming visitors to London during the 2012 Olympics and Paralympic Games.It could mean hotel porters or street sweepers being given time-tables of events and taught to give directions in order to provide a friendly and helpful city.

Westminster Council officers are currently investigating the possibility of street based staff taking part in the “welcome” training being rolled out by the Greater London Authority.They will also be talking to the Business Improvement Districts about where the Games Maker training might be useful for Westminster businesses.

The move is part of Westminster Council’s extensive preparations for the Games to ensure that essential services in London are maintained during the Olympics. With millions of people expected to pour into the heart of the capital during the games, Westminster Council is gearing up for an unprecedented demand on its waste, parking, transport, trading standards and licensing services.

Mayfair Property News; Supply not Demand is the Problem

noreply@blogger.com (London Estate Agents) — Wed, 07 Sep 2011 10:58:00 +0000

Despite economy, Mayfair house goes for £25 million reports Spear's Wealth Management Survey

Belying news of a troubled economy, a house on Upper Brook Street in Mayfair has been sold for £25 million. The house, sold by Wetherell, had been on the market for two and a half years at £32.5 million.

Peter Wetherell said that supply, not demand, was the problem created by economic problems: 'If I had three more I could have sold them. We had a contracts race. We've been starved of good property: the vendors don't want to sell. What do they want to do with the money?

'Interest rates are so low and there's no pressure to sell. Stamp duty at 5 per cent is stifling the market. Real assets are what people want to get their hands on,' he added.

The house had been on the market for two and a half years, Wetherell said, because it was 'unmodernised', despite having undergone an extensive remodelling in the 1990s; he first sold it in 1996 for £9 million.

Chinese Families Send their Children to UK Colleges

noreply@blogger.com (London Estate Agents) — Thu, 16 Jun 2011 09:03:00 +0000

Bloomberg reports on Chinese Property Buying Spree Worldwide;

Chinese families are increasingly sending their children to the U.K. for college, with around 100,000 students in the country last year, said Jennet Siebrits, head of U.K. residential research in London at CB Richard Ellis Group Inc, the world’s largest commercial-property broker. That compares with 4,000 in 1999.

London has four of the world’s top 100 universities, one more than its nearest rival, New York, according to a survey compiled for the London-based Times Higher Education magazine.

At Barratt Developments Plc, the U.K.’s largest homebuilder by volume, 42 percent of the residential units it sold in London this year through May were to overseas customers, all of whom were Chinese, said Gary Patrick, regional sales director at the London-based company.

For the Chinese, where you buy in London depends on how long you’ve been wealthy, said Barnes of Savills. Second- and third-generation Hong Kong residents gravitate toward prime central London locations like Knightsbridge, Mayfair and Kensington, while the newly rich look in Canary Wharf and the Docklands.

Central London Billionaires Enclave Attracts those Escaping the Eurozone Crisis

noreply@blogger.com (London Estate Agents) — Sun, 05 Jun 2011 12:18:00 +0000

Reuters reports that he tycoons of Europe's troubled southern periphery are buying up homes in London's billionaire enclaves and shifting cash to the City's banks as they flee the euro zone's debt crisis.

Estate agents report buyers from Spain, Italy and Greece are muscling in on the residential market in London's elite neighbourhoods such as Mayfair and Belgravia, joining established colonies of rich Russians, Indians and Gulf Arabs.

Data from upmarket British property consultant Savills shows that buyers from Spain, Italy and Greece have increased their share of property purchases in central London's smartest neighbourhoods since the start of the year.

"Southern European numbers seem to have increased," said Yolande Barnes, head of Savills Research.

"In 2011, I suspect the lure of a 'safe', sterling denominated asset once again looks attractive as the financial markets in those countries... look particularly precarious."

The proportion of non-British western Europeans buying prime residential property in London has risen to 14 percent this year from 11 percent in 2010. Within this, buyers from Spain, Italy and Greece grew to 36 percent in 2011, from 25 percent.

Buyers from these three countries also make up half of all western European buyers of properties worth more than 15 million pounds, and 43 percent in the 5 million to 15 million pounds range, the research shows.

And London's private bankers,specialising in clients whose wealth is measured in tens of millions of pounds, also report they are booking more business in Europe's so-called sun belt, belying the region's financial crisis.

Prime Residential Property In Central London Risen By 31.2%

noreply@blogger.com (London Estate Agents) — Thu, 26 May 2011 17:57:00 +0000

Average house prices in central London have risen £767 every day over the last year, reveal Knight Frank.The latest Prime Central London Index, April 2011 reveals:

Capital values rose 1% in April, contributing to an annual rate of growth of 8.3%

Typical prime central London properties saw prices rise by £767 every day over the past 12 months

Average values for prime residential property in central London have now risen by 31.2% since March 2009, the post-credit crunch market trough

The market is being led by properties in the £1m to £5m price bracket, which have seen prices rise by nearly 4% in the past 3 months. The strongest geographical markets are: Mayfair, Marylebone, St John’s Wood and Kensington – all with more than 10% growth over the past 12 months.

London property news: W1J5 postcode 'London's most expensive area'

noreply@blogger.com (London Estate Agents) — Mon, 16 May 2011 17:55:00 +0000

The latest London house price news has revealed the most expensive area in the capital is the W1J5 region in Mayfair, where the average price for properties sold in 2010 was £3.98 million.

Investec Specialist Private Bank data, featured in the London Evening Standard, indicates that the city now boasts 20 postcodes where detached home prices are more than £2 million, compared with nine in 2010.

Famous residents of the W1J5 streets have included the daughter of Bollywood star Mumtaz Natasha Madhvani and art dealer Isabella Macpherson, while numerous foreign embassies call the area home.

Head of London region residential at Savills Jonathan Hewlett explained: "There's a very strong international element to these streets. Mayfair has changed dramatically in the past five years."

Mayfair's Savile Row is experiencing strong increases in office rental prices, with average prices rising to £97.50 per square foot at the beginning of May for the first time since the recession.

London Property News

Central London Parking Policy Findings And Recomme...

noreply@blogger.com (London Estate Agents) — Tue, 03 May 2011 09:04:00 +0000

St Johns Wood Flats & Houses For Sale & Rent: Central London Parking Policy Findings And Recomme...: "New research into parking in Westminster has revealed that a majority of people find it difficult to find a space in the city for their vehi..."

Million Pound Property Sales Soars in the UK

noreply@blogger.com (London Estate Agents) — Mon, 02 May 2011 08:42:00 +0000

Million pound property sales in the UK are increasing at their fastest rate since 2006 with the country now having 185,000 real estate millionaires.

There were 7,185 million pound property sales in Great Britain in 2010, some 54% higher than in 2009 which shows that property is still a good investment despite the current market being up and down, the researsh indicates.

It is the largest annual increase since 2006 when there was a 62%, increase in property at this price level and suggests a real resurgence at the very top end of the housing market, according to the Lloyds TSB Million Pound Property Report.

The geographical distribution of million pound home sales also reflects the wider north/south divide in the housing market with London and the South East accounting for 83% of all million pound sales in Great Britain in 2010. Nonetheless, there are signs of substantial growth elsewhere. The West Midlands recorded the biggest percentage increase in million pound sales at 109%, followed by the East of England at 62%, while London also saw a marked rise of 56%.

Kensington & Chelsea and Westminster in London accounted for nearly a quarter, 22%, of all the million pound homes sold in 2010 with 868 sales while Elmbridge in Surrey had the highest number of million pound sales outside London at 268.

Royal Wedding Clean up Starts Today

noreply@blogger.com (London Estate Agents) — Thu, 28 Apr 2011 14:06:00 +0000

Westminster Council is set to work throughout the night on the eve of April 29th to prepare for the Royal Wedding.

For the past weeks street sweepers, street inspectors and highways maintenance officers have been working hard to make sure the City is ready and at its best for the thousands of people expected in Westminster to celebrate the wedding.

Now the clean-up operation is gearing up for the weekend itself, when staff are expecting to clean up 140 tonnes of waste left by the well-wishers and visitors coming to enjoy the day.

Westminster Council will begin the clean-up of the route as soon as the couple leave the Abbey. Approximately 130 staff will be put to work on the route and the surrounding area.

But more work is being carried out even before the event has begun, with 15 sweepers and 3 flushing vehicles dedicated to final preparations for the wedding area on the Thursday night

Stamp Duty Rate Boosts London Property Market

noreply@blogger.com (London Estate Agents) — Wed, 27 Apr 2011 12:22:00 +0000

High end property sales and rentals in London saw increased interest at the start of the year due to owners trying to avoid the new five per cent stamp duty, Knight Frank has stated.

Liam Bailey, head of residential research at the property market firm, commented that March saw some improvement in the housing market, with more people "forcing deals through" last month.

"There was no doubt that the winter was pretty weak - December, January and February were all fairly down on last year. The market has really been subdued from last summer, so it did have somewhere to grow and the market has been a little bit better over the last two months," he pointed out.

In addition, confidence about interest rates appears to have improved, Mr Bailey argued."The perception about two months ago was that rates would rise pretty rapidly and that hasn't been the case. If anything, there is the feeling that we might even escape a rate rise this year," he added.

Mr Bailey's comments follow research from the National Association of Estate Agents recording a surge in the level of demand for property across the country in March 2011.

London Property Market News

London Luxury Property Maintains Ranking

noreply@blogger.com (London Estate Agents) — Fri, 15 Apr 2011 16:37:00 +0000

London and New York have retained their leading positions in the luxury Property market survey carried out by Knight Frank. Paris and San Francisco were the biggest losers, sinking from third to ninth and 16th to 20th, respectively.

The Knight Frank surveys are based on the conclusions of a panel of experts who consider the cities "in terms of their importance to HNWIs," or high net-worth individuals. The agency has been compiling its surveys annually since 2008.

The survey noted that Russians were the most active buyers of luxury property in London until two years ago, but now rank fourth in that category, behind buyers from China, Hong Kong and Malaysia.

However the survey agency notes a general eastward shift in ranking that is expected to gain momentum rapidly. While seven of the top 10 cities in the 2011 survey are located in Western Europe, North America or Australia, another survey, called "Attitudes," focused on the future potential of the world's top cities, has only four non-Asian cities in its top 10 for 2020.

Westminster Utility Bills Rise by £5 per Week

noreply@blogger.com (London Estate Agents) — Wed, 13 Apr 2011 09:53:00 +0000

Tenants and leaseholders in Westminster will see increases in their heating and hot water bills of around a five pounds a week, council bosses have confirmed.

This is because energy costs are rising substantially, spikes in global demand and ongoing political instability in the Middle East.

Around 5,000 households with communal heating systems will be affected. The council and CityWest have written to all affected residents.

Over the past few years Westminster Council and CityWest Homes have sought to protect residents from rises in energy prices and to cushion them from price hikes with the expectation that prices would fall back from historic highs.

But the council today said it could not subsidise energy bills indefinitely as money spent on this area means less cash for estate improvements while it was likely that energy prices would continue to rise for the foreseeable future.

For more on the council plans click here