London Rising: 6 Notable New Developments in the British Capital

Posted in What to Buy

Despite the uncertainty of Brexit, it it apparent that investment in the UK’s residential property is still on a high and was seen to go up 150% in 2018 (as reported by broker JLL London), thanks to the lures and luxury of London. But with so many new developments in all stretches of the capital, where does one even begin to scout property? From brand new buildings to historical transformations, these are the most intriguing developments in London to follow, visit and perhaps invest in right now.

Chelsea Barracks, Belgravia

Formerly the British Army barracks, which was out of public reach for over 150 years, the Chelsea Barracks has been something of a controversial talking point since real estate investment company Qatari Diar paid a record breaking record amount for British land, GBP 959 million (approx. HK$9.2 million), in 2007. But now, over 12 years on and the first residents have finally moved in, while new penthouses and townhouses go on sale and more phases are in construction for eventual completion. Other elements to open up include landscaped public green spaces that have a distinct theme. Today, Chelsea Barracks continue to offer luxury British living at its finest, making it evident that they will still be one of London’s newest and most esteemed enclaves. 

The Mansion, Mayfair

Boasting 23 luxury residences, The Mansion is Clivedale London’s boutique development of unique apartments. By enlisting German-based firm NBK Terracotta, a bespoke terracotta façade warms the building’s exterior while also paying homage to other Edwardian-style homes in the area. Officially complete, the residences range from studio apartments to penthouses, all of which feature a modern yet timeless elegance. Residents of The Mansion will of course, also benefit from amenities and services including a private residents’ lounge, spa, fitness centre, and Marylebone’s longest private indoor swimming pool. Bonus services such as the chauffeur-driven Bentley house car doesn’t hurt either. 

10 Park Drive, Canary Wharf

Down in the Docklands is the first of Canary Wharf Group’s residential developments: Ten Park Drive. Overlooking the South Dock, the development is just opposite of the Herzog and de Meuron development — One Park Drive — and encompasses two towers. The 42-storey and 13-storey buildings offers 345 one, two and three-bedroom apartments in the centre of Canary Wharf’s residential area Wood Wharf. Residents will benefit from the building’s concierge team, sky terrace, private club, and state-of-the-art health club. Inside, the interiors boast the design marks of celebrated interior designers Stanton Williams, and is fitted with a colour palette that complements the building’s surrounding, with natural woods and clean lines to further enhance natural light into the space. Set to complete in the first quarter of 2020, this property is worth keeping your eye on.

1 Ashley Road, Tottenham Hale

Tottenham Hale, said to be one of London’s next great neighbourhoods, is getting something of a facelift with 1 Ashley Road as its first development in the centre of it all. Sitting in a bustling hub for international transport, the area is easy to get to and from. It’s also designed by the team behind the regeneration of King’s Cross, Alison Brooks Architects, and they have created what could be a landmark building with a warm brick façade, street-level shops and garden terraces. Anticipated for completion in 2022, the offering ranges from studios to three-bedroom apartments, all of which have been given interiors of mixed textures and finishings in bright but warm neutrals materials.

The Atlas Building, Old Street

The Atlas Building, London

Standing 152 metres tall over the rest of the Old Street area in London’s Tech City is mixed-use scheme The Atlas Building, which saw its first residents move in this month. With just a handful of the 302 apartments remaining, this new development is hot property and one to keep a watchful eye on. Designed by MAKE Architects, which was funded by Foster + Partners architect alum Ken Shuttleworth, the building is said to embody the area’s creativity, culture, energy and entrepreneurship. This can also be seen in the office spaces, urban farming and a restaurant that occupy some of the other floors. Meanwhile The Atlas residences can also benefit from lifestyle amenities such as a gym, swimming pool, spa, cinema room and private lounge. 

Principal Tower, Hackney

When Foster + Partners, who also transformed The Murray hotel in Hong Kong, designed their first London residential tower, it was obvious that both architecture and design would be exceptional. This rings true for Principal Tower, which combines residential, office, and retail space alongside a half-acre public piazza. Rising 175 meters above the city of London and Shoreditch, the building is Central London’s tallest and has views looking towards Canary Wharf in the East and the Houses of Parliament in the West. 

Fontaine Cheng
Born and bred in London, Fontaine is a self-proclaimed foodie with extensive experience in the luxury lifestyle landscape. When not exploring the world — discovering cultures and tasting new dishes — she can be found sipping a nice cup of tea (or G&T) hoping to adopt a puppy.

London’s High-End Property Market Is on the Rise Again

Posted in Market Report

London’s high-end real estate market is showing continuing signs of recovery, according to the latest property index from Coutts. Prime property prices in the city crept up again in the second quarter, leaving them 3.1% higher than they were at the end of last year, said the private bank and wealth manager in last week’s report. 

Helping to support prices is a lack of supply and increasing demand. Sales activity was up 21.4% in the second quarter compared to the previous three-month period. 

Despite the recent uptick, prime prices are still 14.5% lower than they were in 2014, making high-end properties in the city good value to buyers. But those same low prices are also discouraging sellers from listing their homes. The number of prime properties on the market in London is down 12.5% compared to the same period last year. 

“Fewer properties on offer means that competition can be intense among buyers for desirable properties when they come up, and it’s not surprising to see gazumping on the rise,” Katherine O’Shea, of Coutts real estate investment services, said in the report. 

Gazumping refers to the unfavorable practice of accepting a higher bid on a property at the last minute despite having already accepted a verbal offer. 

Prime supply has dropped most in the neighborhoods of Kensington, Notting Hill and Holland Park, where inventory across the three areas is down roughly 25% compared to the second quarter in 2018, the report said.  It’s up most in the neighborhoods of Kings Cross and Islington, where there has been an almost 15% increase in supply in the same time. 

Staff Writer