Author: Emma Whitby-Smith, Head of Investments, Residential Land
26 Dec 2018
Research by investment firm CBRE, in association with other commercial real estate services, suggests that house prices in certain London boroughs are set to outperform expectations and climb 13 percent over the next five years. This is testament to the reputation of the UK capital’s financial services, as well as its creative and tech industries, which continue to attract talent from around the world.
In West London, agents report that Hammersmith and Fulham have demonstrated the greatest increase in prices since 2012. This is hardly surprising: with a stunning riverside location, parks, restaurants, shops and cafes, West London is one of the most desirable places to live in the capital. CBRE stated that Fulham Riverside is a particularly attractive neighbourhood in the area – a fact that will no doubt be helped by the major riverside regeneration project set to provide an uninterrupted public walkway along the River Thames, as well as an improved clipper service.
At the heart of this regeneration project is Palace Wharf, a new development that has transformed a former Edwardian marble warehouse into an exclusive collection of apartments, available to rent from £829 (€942) per week. The jewel in the crown of Palace Wharf, however, is a 1,875sq ft, river-facing townhouse – part of a collection of five – currently on the market for £3.5m (€4m). Arranged over three floors, it offers a balcony at every level, as well as floor-to-ceiling windows with sweeping views along the river and over the Barnes wetlands area.
The impending arrival of the Elizabeth Line (Crossrail) is driving regeneration, as well as prompting a surge in property prices
In other parts of London, the impending arrival of the Elizabeth Line (Crossrail) – the new infrastructure link connecting the east and west of the capital – is driving regeneration, as well as prompting a surge in property prices, according to real estate services provider Savills.
Paddington is one of the key areas benefitting from Crossrail, with journey times to Bond Street, Canary Wharf and Heathrow Airport set to fall to three, 17 and 24 minutes respectively. The surrounding area of Paddington is also becoming a highly sought-after location, with buyers drawn to its close proximity to Hyde Park and the Grand Union Canal.
To the west of Paddington Station is Garden House, a major residential development located on the prestigious Kensington Gardens Square. An island terrace of Grade II-listed, stucco-fronted buildings, Garden House offers a collection of one, two and three-bedroom apartments, with prices starting from £995,000 (€1.13m).
As well as providing enviable views of two privately landscaped garden squares, Garden House has direct access to the larger of the two exclusive squares – which occupies two acres – and is the only property on the square able to offer its residents this unique opportunity.
Just south of Paddington Station – and only minutes from Hyde Park – is Bathurst Mews, one of the most prestigious and picturesque mews in London. With an array of period homes on the Hyde Park Estate, Bathurst Mews offers residents access to Hyde Park Stables, one of London’s last remaining horse riding stables.
Number 60 Bathurst Mews is an exceptional turnkey, three-storey property comprising three bedrooms and three bathrooms. The property has a large, open-plan living and dining space with a vaulted ceiling on the first floor, as well as a private garage, luxury cinema room and two outdoor terraces. Using only the finest interior design materials, this freehold property is on the market for £3.15m (€3.6m).