Mansion Global

A Rich Assortment of New Developments Hits London as the Market Perks Up

Demand is high, and these new projects from Westminster to Mayfair offer modern amenities in historic locations

Rendering: Northacre

Rendering: Avanton

The coronavirus pandemic brought London’s property market to a standstill in the first half of 2020, as infections surged and the country locked down.  

But since cases have declined and life has gradually returned to a new normal, the market has begun to pick up.

Property data company LonRes’s latest analysis of the prime residential sales market showed that in August, listings doubled (+97%) compared to the same period last year.  

Sales remained 23% lower than last year, but the number of properties under offer showed an 8% annual rise suggesting a slow recovery.

“Emerging from lockdown, the prime London market faced some challenges,” said Marcus Dixon, head of research at LonRes. “There were fewer overseas buyers and corporate relocations, both of which provide a key source of demand for prime London homes. Add into the mix the well-publicized escape to the country, and many were concerned as to how central London would fare.” 

“But the market has proved resilient,” Mr. Dixon continued “The summer market has been surprisingly busy.”

Priya Black, head of Baker Street New Homes, Knight Frank, also reported a busy summer. “Interest has been strong from international buyers, many of them viewing property virtually, as well as from domestic purchasers who are buying a bigger house outside of London and looking for a pied-a-terre in the city,” she said.

Ms. Black has also seen developers adapt their offerings to respond to the impact of the lockdown. “They are incorporating residents lounges, business suites for working from home and communal gardens, as well as access to local parks,” she said.

Chancellor Rishi Sunak’s decision to impose a stamp duty holiday on the first £500,000 (US$642,772) of a property purchase has helped to stimulate demand, as has the government’s offer of citizenship to British National Overseas passport holders in Hong Kong.  

Beauchamp Estates, for example, reports in its new wealth survey that over the past six months, it has sold more than $374 million worth of luxury London residential property to Hong Kong buyers in prime locations. 

Historically low interest rates, which the Bank of England cut to 0.1% in March, are also helping to keep the London property market buoyant. 

As such, several developers are braving the volatile market and launching luxury schemes this fall, hoping that the demand from buyers will continue to grow.

The Broadway, 8-10 Broadway, SW1H 0BG

Rendering: Northacre

The Broadway has come a long way from its past life as a gray 1960s tower block housing London’s Metropolitan Police. Developer Northacre has knocked down the unlovely municipal buildings and replaced them with six architecturally striking new towers inspired by 1920s Art Deco design, with floor-to-ceiling diamond-shaped windows and luxury fittings. 

The development is on Victoria Street—a busy thoroughfare with shops and offices that stretches between Westminster Abbey and the Houses of Parliament at one end and the busy transport hub of Victoria Station at the other.

Apartments on the higher levels offer rarely found views of historic London landmarks such as Westminster Abbey, Big Ben and Buckingham Palace. 

The apartments are also a short walk away from Buckingham Palace and St James Park, one of London’s most elegant royal parks.

Representatives for the development have yet to release a launch date.

Number of Units: 285 apartments in six buildings, ranging from 14 to 19 stories high
Prices: From £1.763 million (US$2.26 million)
Developer/Architect: Northacre/Squire & Partners 
Unit Sizes: One- to five-bedroom apartments and penthouses 
Amenities: The development offers 24-hour concierge, a library, a gym and a 25-meter pool.
Website: thebroadwaylondon.com

Rendering: Northacre

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Manorgrove Homes

Manorgrove Homes

Harefield Place, The Drive, Ickenham, Middlesex, UB10 8AQ

Manorgrove Homes

Harefield Place is an imposing Georgian mansion that has had several incarnations in its long and colorful history. It was built in 1559 by the aristocratic Newdigate family and visited by Queen Elizabeth I, who watched a performance of “Othello” on its extensive grounds. In 1786, it was rebuilt into the Georgian mansion that stands today. 

After a stint in the 1930s as a maternity hospital, it was converted into offices in the 1980s and became the headquarters of Blockbuster, the once-ubiquitous VHS renting service that went bust in 2010 after the arrival of movie streaming. 

Now it’s been converted into nine luxurious gated apartments with a new wing alongside that houses 16 contemporary apartments. 

The development is surrounded by beautifully landscaped grounds on 8.5 acres with a tennis court and lake. 

Ickenham is in far west London, about an hour from the city center. However, with more people working from home, estate agents will be hoping to capitalize on a surge in interest from buyers who no longer need a speedy commute and are looking for more spacious homes with outdoor space.

Sales launched in August.

Number of Units: Nine apartments in the original Georgian mansion and 16 contemporary apartments in the new wing, plus a penthouse 
Prices: £995,000 to £1.695 million
Developer/Architect: Manorgrove Homes/ HAP Architects 
Unit sizes: Two- and three-bedroom apartments
Amenities: The development offers a swimming pool, a steam and sauna room, a gym, an all-weather tennis court, 8.5 acres of landscaped grounds and a lake.
Website: harefieldplace.com

Manorgrove Homes

Manorgrove Homes

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14 Brook Street, Mayfair, London, W1

Knight Frank

This just-launched glossy boutique development is right in the center of London’s shopping and eating district. It’s  just steps away from the designer boutiques on Bond Street and Mayfair’s exclusive restaurants and clubs. 

The ornate, historic Georgian building has been converted into six glossy two- and three-bedroom apartments, including a communal roof terrace and two penthouses with their own roof terraces. The development is part of a wider 1.3-acre scheme to revitalize Hanover Square, including six new stores on New Bond Street, 160,000 square feet of new offices, and the Medici Courtyard, a new public space with a restaurant. 

The development is also close to the new Bond Street Elizabeth Line, which can whisk residents to Heathrow Airport in just 26 minutes. 

The units have been finished with rosewood, oak, walnut, marble and bronze throughout as well as state-of-the-art entertainment systems. 

Number of Units: Six apartments 
Prices: £4.75 million to £6.25 million
Agent: Knight Frank/Wetherell
Developer/Architect: Great Portland Estates/Lifschutz Davidson Sandilands
Unit Sizes: One bedrooms from 425 square feet, two bedrooms from 726 square feet, three bedrooms from 1,014 square feet
Amenities: The development features a communal roof terrace.
Website: 14brookstreet.co.uk

Knight Frank

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Rendering: Avanton

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Coda Residences, 6 York Place, London, SW11 3JD

Rendering: Avanton

Coda is a striking new 90-meter-tall tower in Battersea, close to the River Thames, with far-reaching views across the water from the upper levels. 

The development has a cool vibe, perhaps because it sits right on top of the new headquarters of the Royal Academy of Dance on the ground floor. 

The 130 apartments are due for completion at the end of the month, with a full launch then. The developers are reporting strong interest from young, creative people drawn by the proximity of the dance school, the River Thames and the extensive 200-acre Battersea Park, which is a short stroll away.  

The park is one of London’s finest with a boating lake, a cafe and a children’s zoo. The designers have drawn inspiration from the leafy neighbor with the just-launched show home that has textured tree-bark wallpaper and pops of green throughout. There’s also a landscaped garden and a residents lounge that can be used for meetings and events. 

Number of Units: 130 apartments
Prices: One bedrooms from £595,000, two bedrooms for £750,000, and three bedrooms for £1.45 million
Developer/Architect: Avanton/Patel Taylor
Unit Sizes: One to three bedrooms 
Amenities: They include a 24-hour concierge, a gym, a hotel-style foyer, a club lounge, a gymnasium and landscaped courtyard gardens.
Website: www.codalondon.com

Avanton

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1 Grosvenor Square, Mayfair, London, W1K 4AB

Rendering: Lodha UK

Anyone buying an apartment at 1 Grosvenor Square, in Mayfair  will be purchasing a piece of London’s most illustrious history. The square is one of the most imposing addresses in London’s smartest postcode, where the U.S. embassy stood between 1938-60, a period among those who called it home was U.S. ambassador Joseph P. Kennedy and his family, including John F. Kennedy. 

The American connections go back even further. Soon after its construction in 1731, the house became the home of U.S. Ambassador John Adams in 1785 prior to his becoming America’s second president. 

In 1961, the U.S. Embassy moved across the square and 1 Grosvenor Square became the Canadian High Commission between 1961-2013. Then, developer Lodha snapped it up, and its conversion and restoration began, with architects Eric Parry dismantling it brick by brick and painstakingly rebuilding the facade using the original bricks and stonework. Inside, ceiling heights reflect the grandeur with some stretching 4.2 meters high. 

Now, the seven stories are home to 44 ultra-luxurious apartments, where neutral interiors, filled with marble and black walnut, have been designed by the Toronto-based firm Yabu Pushelberg in a nod to its Canadian heritage. 

Two show apartments are launching at the end of the month. 

Inside, the Oval room— a replica of the Oval Office in the White House— has been restored to form part of the impressive entrance lobby. 

Another feature of the development is the 24-hour Saint Amand concierge, which will organize tasks including housekeeping, home maintenance, restaurant bookings and travel. 

Until recently, Grosvenor Square had a rather cold, corporate feel, but things are changing, with a pedestrianized shopping area and a new hotel and restaurants planned. 

Number of Units: 44
Prices: From £8 million 
Developer/Architect: Lodha UK/Eric Parry Architects
Unit Sizes: Two- to- five-bedroom apartments, some with large terraces. Others are duplexes with their own private front doors.
Amenities: The development offers 10,000 square feet  of amenities, including a 25-meter swimming pool, sauna and steam rooms, a gymnasium with a private training studio, a private cinema, a residents’ library and a private business suite.
Website: 1GSQ.com

Rendering: Lodha UK

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