London’s New Apartments Mix Old and New
The British capital, still facing Brexit uncertainty, will see several luxury developments unveiled this fall
The London real estate market has been wobbly this year, amid deep uncertainty about Brexit, affordability issues in the marketplace from years of rising prices, and the recent election. The Financial Times reported in July that 58% of properties taken off the London market were withdrawn rather than sold—the first time in seven years that the number hit more than 50%.
A recent report by the real estate brokerage Aston Chase found that sales volume in London has fallen 7%, and prices by the same percentage, a drop Aston Chase attributes to Stamp Duty, the tax on second homes and homes worth more than £937,500 (US$1.2 million).
Meanwhile, there’s some evidence that the slowdown has bottomed out. U.K. housing prices have ticked back up, according to Halifax, the country’s largest mortgage lender, which measured a price rise of 1.1% in August.
Some see the recent uncertainty as making the city ripe for those looking for a deal. And fall 2017 brings many new luxury developments for different types of buyers, whether you’re looking for a tower with soaring views, an intimate townhouse or a unique place in the City of London.
Here are some highlights:
1. The Arts House, Southwell Gardens, South Kensington, SW7 4RJ, South Kensington
A historic renovation of 11 apartments and one townhouse offers a unique chance to live at a prestigious address, between Gloucester Road and the historic Georgian Southwell Gardens. The Victorian façade of this project, which just launched, has been maintained, and the 11 apartments have high ceilings, period windows and tiled flooring.
The apartments are all different from one another, with details such as sun rooms or terraces. Contemporary touches include energy-efficient windows, modern kitchens, an elevator, and concierge. As befits the name, artwork by students of The Royal College of Art will hang in the foyer of the building and decorate the townhouse.
Number of units: 11, plus a townhouse
Price range: From £1.895 million (US$2.4 million) for a one-bedroom
Developer: Henley Space
Apartment sizes: One- to three-bedroom apartments ranging from 798 to 1,879 square feet and a two-story, three-bedroom 2,165-square-foot townhouse
Amenities: Concierge, elevator
Website: theartshouse.co.uk
2. London Square Canada Water, 24-28 Quebec Way, Canada Water, SE16 7LF Southwark
A landmark part of the Southwark Council’s £2 billion Canada Water urban plan —which includes 900 homes, a library, a new square and plaza—is the 95 luxury apartments, designed by Assael Architects, that will feature Siemens appliances and underfloor heating.
The façade of the building, with its textured “hit and miss” brickwork will provide dappled shade on the exterior, as well as light and views from the terraces and balconies. The location is less than 10 minutes from the Canada Water underground station. The property came onto the market on Sept. 9.
Number of units: 95
Price range: From £520,000 (US$669,000) for a one-bedroom and £850,000 (US$1.123 million) for a three-bedroom
Developer/architect: London Square/Assael Architects
Apartment sizes: One- to three-bedrooms
Amenities: Concierge, courtyard, balconies, terraces
Website: londonsquare.co.uk
3. VI Castle Lane, 6 Castle Lane, Victoria
This unusual, curving glass structure is located on a quiet, green street between Buckingham Palace and Victoria Station. The windows of the project offer the owners of the three townhouses and 28 apartments light and views.
Inside, high-end finishes in marble, stone and oak complete the experience in this neighborhood filled with bars, shops and restaurants. This property will launch mid-October.
Number of units: 31
Price range: £825,000 (US$1.06 million) for a ground-floor, 537-square-foot one-bedroom through £3.5 million (US$4.5million) for a 1,669-square-foot, three-bedroom apartment
Developer: Sons & Co.
Apartment sizes: One- to three-bedroom apartments and townhouses with two bedrooms
Amenities: Concierge, off street parking
Website: knightfrank.co.uk
4. 19 Bolsover St., Fitzrovia
October sees the launch of this boutique project, which was originally constructed in the early 20th century for use by the John Lewis department store. The 18 apartments in this six-story building feature generous proportions and large sash windows framing contemporary interiors, while the exterior has been restored to its Edwardian height. The address is well-located between Marylebone and Mayfair.
Number of units: 18
Price range: Apartments start at £1.25 million (US$1.61 million)
Developer/architect: Sato Investment/TF Architects
Apartment sizes: 17 apartments and one penthouse, which has four bedrooms, a study and three terrace spaces, and spans the entire fifth floor of the building.
Amenities: Concierge
Website: knightfrank.co.uk
5. 16 Greville Road, Greville Road, London, NW6, St. John’s Wood
A new construction is a rarity in Maida Vale, an area filled with period homes. The five-apartment structure is a recreation of the 19th-century home that once stood on the lot, complete with a stucco façade, timber sash windows and a porch.
Inside, the apartments feature natural light, large bedrooms, and kitchens with marble worktops, high-end appliances and timber flooring. This project is expected to launch late September.
Number of units: 5
Price range: Apartments start at £1.2 million (US$1.6 million)
Developer/architect: Reedminster Ltd with Knight Frank/Pelican Architecture and Design
Apartment sizes: The apartments range in size from 952 square feet to 1,335 square feet, and from two to three bedrooms.
Amenities: Communal gardens
Website: knightfrank.co.uk
6. Chelsea Island, 1 Harbour Ave. SW10, Chelsea
This fall marks the launch of the penthouse collection at Chelsea Island, three premium penthouse homes each with their own private terrace, landscaped by Belgravia florist Neill Strain. The homes offer amazing views over London.
Chelsea Island is an 89-apartment development designed by Arney Fender Katsalidis, which launched September 2016. Near the King’s Road, the development is the last phase of the regeneration of Chelsea Harbour. The top-floor penthouses feature open-plan living, floor-to-ceiling windows and a classic-meets-contemporary design.
Number of units: 3, in an 89-unit building
Prices: £3.75 million (US$4.83 million)
Developer/architect: Hadley Property Group/Arney Fender Katsalidis
Sizes: Three to four bedroom penthouses, from 2,000 square feet to 3,797 square feet.
Amenities: Gymnasium, concierge, landscaped garden
Website: chelseaisland.com
7. Chiltern Place, 66 Chiltern St., London W1U 4JT, Marylebone
This autumn launch adds 55 apartments to the sought-after Marylebone Village location. Located on the corner of Paddington Street and Chiltern Street, the development is a stone’s throw away from many of London’s best shops and restaurants.
The unique façade, designed by PLP Architecture, features handset terra cotta to fit in with the existing buildings in the area.
Number of units: 55
Price range: From £1.95 million (US$2.5 million) for a one-bedroom, more pricing information available on application.
Developer/architect: Ronson Capital Partners/PLP Architecture
Apartment sizes: One, two, three and four bedroom apartments, penthouses and a four-story townhouse, ranging from 596 square foot one bedrooms through 4,355 square foot four bedrooms.
Amenities: Business suite, concierge service, fully equipped gym, lounge, allocated underground parking and valet parking.
Website: chilternplace.com
8. The Denizen, Golden Lane, EC1, City of London
This new building offers buyers a chance to live in London’s financial center. Residents can expect some outdoor space in this truly urban spot, in the form of balconies and terraces.
Designed by Alexander James, the interiors of this project, are bright, elegant and well-designed for city living. Barbican, Moorgate and Farringdon tube stations are all within a 12-minute walk, and the 2018 arrival of the Elizabeth Line through Farringdon only increases the connectivity.
Number of units: 98
Price range: From £695,000 (US$911,000) to £2,375,000 (US$3.1 million) for the penthouse
Developer/architect: Taylor Wimpey Central London/ Allford Hall Monaghan Morris (AHMM)
Apartment sizes: Studios to three-bedroom units
Amenities: Concierge, communal lounge, outdoor space
Website: TheDenizen.co.uk