All Good in the Wood

There are few things that better signal the arrival of British summertime as a game of cricket at Lord’s. And while the last Ashes test match at the famous ground earlier this month was a wipe-out for the English team, it put a spotlight on Lord's local neighborhood, St John’s Wood. According to online estate agent urban.co.uk homes here have risen in value by 18.57% since July 2013, the last time the Ashes came to England. An average property now costs £1.36 million (about US$2.1 million), though many sell for a huge amount more. At the end of June one of Britain’s most expensive homes, an 11-bedroom, 21,000 square foot mansion on Avenue Road in St John’s Wood went for £40 million (about $62 million) to, it is believed, an Indian tycoon.

“The area has become increasingly attractive to international buyers as prices continue to soar and sophisticated investors look for better value for money in close proximity to prime central London,” says Mark Pollack, Director of Aston Chase, a high-end estate agency based in north west London. More: Haute Couture in the Capital “The revitalization of Marylebone and Fitzrovia have both also helped to make north of Hyde Park increasingly ‘cool’ and all of this is supported by the exceptional transport links and local educational amenities such as The American School in London, London Business School and Regent’s University London.” St John’s Wood, about 2.5 miles north west of central London, is perhaps the greenest and most spacious of prime London districts, according to Stephen Lindsay, head of agency Savills in St John’s Wood. “In the 19th century it was the haunt of artists and authors; today, that bohemian heritage mixes with the area’s thriving strong Jewish, Middle Eastern and American communities to create a vibrant atmosphere and a lively social scene, with numerous specialist shops and restaurants.”

Architecturally, the area is characterized by low-density, villa-style housing, in large gardens and tree-lined avenues. But more recently ultra-prime modern developments have arrived, and have been instrumental in attracting international buyers to the area, believes Pollack. These redevelopments include British Land’s former offices at Cornwall Terrace, The Atrium opposite Regent’s Park, and most recently 50 St Edmund’s Terrace, a collection of 36 one to four-bedroom apartments, and one two-bedroom town house, on the edge of the popular Primrose Hill. More: The Fine Living Future of Canary Wharf Last month a development in the heart of St John’s Wood, Grove End, was launched. The brand new building has five two and three bedroom apartments, including a duplex penthouse with 360 degree views, starting from £3.75 million (about $5.8 million). There is more to come, including the impending redevelopment of the former St John’s Wood Royal Horse Artillery Barracks into a 163 home area called “St John’s Wood Square”. It’s a project that will, says Pollack, “ inevitably result in St John’s Wood reinforcing its reputation as one of the most prestigious areas of central London.”