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Hampstead | Islington | St John’s Wood

LOCAL VIEW

Issue 22012

DIRECTORYGlobal Headquarters

+44 (0)20 7629 817155 Baker StreetLondon, W1U 8ANUnited Kingdom

Country Department

+44 (0)20 7629 [email protected]

International Department


Mayfair+44 (0)20 7499 [email protected]

Notting Hill+44 (0)20 7229 [email protected]

Richmond (Sales only)+44 (0)20 8939 [email protected]

Riverside+44 (0)20 7590 [email protected]

South Kensington+44 (0)20 7871 [email protected]

St John’s Wood+44 (0)20 7586 [email protected]

Wandsworth (Sales only)+44 (0)20 8682 [email protected]

Wapping & City+44 (0)20 7480 [email protected]

Wimbledon+44 (0)20 8946 [email protected]

Regional Offi ces Sales & Lettings

Ascot+44 (0)1344 [email protected]

Cobham+44 (0)1932 [email protected]

London Sales & Lettings

Battersea+44 (0)20 3597 [email protected]

Belgravia+44 (0)20 7881 [email protected]

Canary Wharf & Royal Docks+44 (0)20 7512 [email protected]

Chelsea+44 (0)20 7349 [email protected]

Fulham+44 (0)20 7751 [email protected]

Hampstead+44 (0)20 7431 [email protected]

Hyde Park+44 (0)20 7861 [email protected]

Islington+44 (0)20 3657 [email protected]

Kensington+44 (0)20 7938 [email protected]

Knightsbridge+44 (0)20 7591 [email protected]

Marylebone+44 (0)20 7483 [email protected]

Esher+44 (0)1372 [email protected]

Regional Offi ces Sales

Basingstoke+44 (0)1256 [email protected]

Bath+44 (0)1225 [email protected]

Beaconsfi eld+44 (0)1494 675368beaconsfi [email protected]

Berkhamsted+44 (0)1442 [email protected]

Bristol+44 (0)117 317 [email protected]

Cheltenham+44 (0)1242 [email protected]

Cirencester+44 (0)1285 [email protected]

Exeter+44 (0)1392 [email protected]

Guildford+44 (0)1483 [email protected]

Harrogate+44 (0)1423 [email protected]

Haslemere+44 (0)1428 [email protected]

Henley-on-Thames+44 (0)1491 [email protected]

Hereford+44 (0)1432 [email protected]

Horsham+44 (0)1403 [email protected]

Hungerford+44 (0)1488 [email protected]

Oxford+44 (0)1865 [email protected]

Sevenoaks+44 (0)1732 [email protected]

Sherborne+44 (0)1935 [email protected]

Stratford-upon-Avon+44 (0)1789 [email protected]

Sutton Coldfi eld+44 (0)121 3627878sutton.coldfi [email protected]

Tunbridge Wells+44 (0)1892 [email protected]

Virginia Water+44 (0)1344 [email protected]

Winchester+44 (0)1962 [email protected]

Worcester+44 (0)1905 [email protected]

Scotland

Edinburgh+44 (0)131 222 [email protected]

Lauder+44 (0)1578 [email protected]

Ireland

Dublin+353 (0)1 662 [email protected]

International

For a full listing of our international offi ces please visit KnightFrank.com

Important Notice

1. Particulars: These particulars are not an off er or contract, nor part of one. You should not rely on statements by Knight Frank LLP in the particulars or by word of mouth or in writing (‘information’) as being factually accurate about the property, its condition or its value. Neither Knight Frank LLP nor any joint agent has any authority to make any representations about the property, and accordingly any information given is entirely without responsibility on the part of the agents, seller(s) or lessor(s).

2. Photos etc: The photographs show only certain parts of the property as they appeared at the time they were taken. Areas, measurements and distances given are approximate only. Any computer generated images (CGI) are indicative only.

3. Regulations etc: Any reference to alterations to, or use of, any part of the property does not mean that any necessary planning,

building regulations or other consent has been obtained. A buyer or lessee must fi nd out by inspection or in other ways that these matters have been properly dealt with and that all information is correct.

4. VAT: The VAT position relating to the property (where applicable) may change without notice.

Whilst every eff ort has been made to ensure the accuracy of the information contained in this publication, the publisher cannot accept responsibility for any errors it may contain. All rights reserved. No part of this publication may be reproduced, stored in a retrieval system, or transmitted in any form or by any means, electronic, mechanical, photocopying, recording or otherwise, without prior permission of Knight Frank LLP, 55 Baker Street, London W1U 8AN.

Knight Frank LLP is a limited liability partnership registered in England with registered number OC305934. Our registered offi ce is 55 Baker Street, London, W1U 8AN, where you may look at a list of members’ names. This report is published for general information only and not to be relied upon in any way. Although high standards have been used in the preparation of the information, analysis, views and projections presented in this report, no responsibility or liability whatsoever can be accepted by Knight Frank LLP for any loss or damage resultant from any use of, reliance on or reference to the contents of this document. As a general report, this material does not necessarily represent the view of Knight Frank LLP in relation to particular properties or projects. Reproduction of this report in whole or in part is not allowed without prior written approval of Knight Frank to the form and content within which it appears.

Cover image: New End, see page 9

This Local View is one of a series of fi ve publications covering the London area. To view and download a PDF or request a hard copy please visit KnightFrank.com/Publications

Welcome to Local View 2012. In the pages that follow, we hope to give you an insight into the unique London property market and showcase a selection of the most beautiful London properties currently for sale and to rent with Knight Frank.

The London market has performed surprisingly well during the fi rst half of the year, despite the economic uncertainty that persists in the Eurozone and in many of the wider, global markets. The capital became the focus of the world during our Great British Summer and our London offi ces experienced a surprising level of activity throughout most of this period.

Looking ahead, there appears to be a two stream market divided by the £2m stamp duty threshold. Below this level, the market is active, whilst above the threshold the market is patchy.

The continued uncertainty surrounding how properties owned in company names, or bought by ‘non-natural persons’, will be treated, has put some Prime and Super Prime buyers into ‘wait and see mode’ until the government’s consultation document is released at the beginning of December 2012. Despite this, London continues to attract interest from overseas investors, and the capital remains the number one destination in which to live, in the minds of many individuals from around the world.

Knight Frank has continued to invest in its network, both in London and overseas. We have opened new offi ces in Islington and Marylebone, and the Riverside team has moved to a spectacular offi ce at Albion Riverside. The team now covers the Battersea sales and rental markets. Overseas we have opened offi ces in Dubai, Qatar, Calcutta and South Africa, thus extending our reach to capture buyers and tenants from around the world.

I trust you will enjoy reading the articles contained within this edition of Local View and leafi ng through the many pages of wonderful properties that our clients have asked us to fi nd buyers or tenants for.

If you see any properties that interest you or if you would like advice on any property matter then please do not hesitate to get in touch with any one of our offi ces.

WELCOME

Noel FlintHead of London Residentialnoel.fl [email protected]

4 London Market Overview6 Hampstead18 Islington30 St John’s Wood42 Knight Frank Service Directory43 Knight Frank Office Directory

CONTENTS

21

16 35

13 33

LONDON SALES MARKET4

Average prime property values in central London now stand at a new record high, some 15% above their pre-crisis peak in March 2008.

This growth in prices has taken place despite the impact of the March budget’s 40% rise in the top rate of stamp duty together with new, and still undefi ned, rules for an annual charge on £2m+ properties held in certain ownership structures and the reform of non-resident capital gains tax rules.

But the budget tax changes have had an undeniable impact on activity levels in the market, with the volume of sales in the £2m-£5m sector falling 20% in the three months to September compared to the same period in 2011. Sales volumes above this bracket have been more robust, and there has also been a strong 23% rise in sales volumes for homes worth up to £2m.

The sub £2m bracket is also where price growth has been strongest, with an annual increase of 11.6%.

Despite the weaker transaction volumes in the £2m-£5m bracket, the number of prospective buyers has been fairly evenly matched with available properties across all price bands. It is worth noting however that over the last six months, stock volumes have slowly begun to creep upwards, and are now around 10% higher than in September last year.

London’s market performance continues to be aided by overseas buyers, who account for 41% of buyers in the £1m+ prime London sector, and more than 50% of buyers in the £2m+ market.This overseas demand is driven by Russian, Indian, Italian, US and French buyers – refl ecting the diversity of the market.

September saw another month of positive growth in the prime central London residential market. Prices have now risen 51% since the post-fi nancial crisis low in March 2009.

LONDON SALES MARKET

The overseas demand is driven by Russian, Indian, Italian, US and French buyers – refl ecting the diversity of the market.

10%Monthly growth pushes

annual rise to

1.7%Quarterly pace of growth

slows to

SALES MARKETBY NUMBERS

0.7%in September

Prime central London prices rise by

Top 10 buyer nationalities, 2012

UK 58.9%

Russia 4.3%

India 3.6%

Italy 3.5%

US 3.3%

France 3.2%

UAE 1.8%

Australia 1.6%

China (inc Hong Kong) 2.4%

Greece 1.3%

Residential price change, indexed from March 2009

Prime central LondonUK

100.0

105.0

110.0

115.0

120.0

125.0

130.0

135.0

140.0

145.0

150.0

Mar

-09

Jun-

09

Sep-

09

Dec

-09

Mar

-10

Jun-

10

Sep-

10

Dec

-10

Mar

-11

Jun-

11

Sep-

11

Dec

-11

Mar

-12

Jun-

12

LONDON RENTAL MARKET 5

The main factor weighing on rents has been the state of the London economy. A bounce in activity in 2010 and 2011 saw London’s gross value added (GVA) measure of economic activity climb by an annual 1.9% and 1.7% respectively.

But by the end of 2011 the economy was slowing as the Eurozone crisis put downward pressure on growth, confi dence and recruitment, and the current estimate for London’s full-year 2012 GVA growth stands a little below 1%.

This weakness can be seen in data from Morgan McKinley, which confi rmed that in terms of new employment vacancies in central London, 2012 is far underperforming the picture seen in both 2010 and 2011. The fi gures show that 2012 is in fact running a close race with 2009 to be the worst year for new vacancies since Morgan McKinley started recording this data in 2004. As a result we shouldn’t therefore be too surprised that rents have moved down over the past nine months.

But while rents may be performing below trend, activity has risen, with new lettings volumes in the fi rst half of 2012 22% higher than the same period in 2011 in prime central London.

This increase in activity refl ects a broader shift in favour of the rental sector across the UK, due to the lack of mortgage market funding for new entrants in the owner-occupier market.

For landlords this trend should permit above-infl ation rental rises over the medium term, potentially helping to halt the long-term decline in income returns on prime residential investment.

While gross yields of 3.5% have become more common in central London, investors’ attention is on total returns, which have averaged 11.4% annually over the last three years.

Like sales prices, prime rents have recovered rapidly since the market downturn in 2008-09, and are now nearly 25% higher than they were in mid-2009. Unlike capital values, rents hit a ceiling in October 2011 and have since declined, albeit marginally, by 2%.

LONDON RENTAL MARKETRENTAL MARKET

BY NUMBERS

0.1%in September

Prime London rents fall

2.3%on an annual basis

Annual rental values fall

2.0% and 3.1%

Flats marginally outperform houses - falling respectively

over the past year

-25.0%

-20.0%

-15.0%

-10.0%

-5.0%

0.0%

5.0%

10.0%

15.0%

20.0%

2008 2009 2010 2011 2012

Annual growth in prime central London rentsAnnual capital growth and average annual net income returns, prime central London

-20.0%

-10.0%

0.0%

10.0%

20.0%

30.0%

40.0%

97 98 99 00 01 02 03 04 05 06 07 08 09 10 11

HAMPSTEAD 7

Getting around: Hampstead, Belsize Park, Finchley Road, Swiss CottageHampstead Heath, Finchley Road, Frognal

Best known for: Hampstead Heath, Kenwood House, hill-top position, an abundance of large detached mansions, literary alumni and a bohemian vibe.

Boroughs: London Boroughs of Camden, Barnet and Haringey

Area: Hampstead and Highgate overlook London from their lofty hill-top position and offer residents the country lifestyle, while being in sight of the City. Steeped in history, the area has numerous intellectual, artistic, musical and literary associations – from John Keats and George Orwell to Ridley Scott and George Michael. Schooling is also excellent with junior schools such as Devonshire House, The Hall, St Anthony’s and senior schools such as UCS, South Hampstead, Highgate and Channing.

Social and cultural attractions: The area is home to The Freud Museum, Keats House, Kenwood House, Fenton House, The Isokon Building, Burgh House and the Camden Arts Centre. There are also many highly-regarded restaurants, gastropubs and bars alongside four theatres and a cinema. A series of open-air concerts take place in the summer at Kenwood.

Sports and leisure facilities: Hampstead Heath is one of London’s most popular open spaces and a great spot for summer picnics and days out with friends. It has three outdoor public swimming ponds and its vast green spaces offer a beautiful setting for runners. Sports enthusiasts can join a range of clubs, from skittles and golf to tennis and rugby. And kite flying on Parliament Hill is a particular attraction.

Our favourite places: The Wells, an excellent gastropub; Villa Bianca, for fabulous Italian food; The Holly Bush, a well-renowned pub; and Jin Kichi, a popular Japanese restaurant.

HAMPSTEADAREAS COVERED NW3 N2 N6 NW5 NW6 NW11

8 hampstead SALES

The market: All sales over £2m are that little bit harder to agree and harder to get over the line. However, properties in this bracket remain desirable, especially low-built houses with south west facing gardens.

Our outlook: Sensible pricing is key at present. Buyers are very sensitive as they have to budget for a further 7% in stamp duty (for properties above £2m) and as this money is neither invested nor recoverable, they wish to spend it wisely.

Who buys here: Literati are still being bought out by businessmen. Neither have as much money as they used to and 7% stamp duty doesn’t help.

SALES OVERVIEW

£4.8m

The average international buyer spends

SALESBY NUMBERS

359We have

potential buyers on our books looking to spend a collective

total of £2.25bn

SALES INSIGHT

“We have seen a surge in demand for properties below £2m and vendors should be wary of overpricing unmodernised property. Fitzjohns Avenue is a hotspot where recent upgrades to the housing stock have been appreciated by the market.”

Our team in action: We have sold 12 of the last 13 apartments within Mount Vernon, NW3 and currently have the 12th and 13th sales under off er at de Laszlo House (pictured above) where only fi ve units remain. In the prime market, evidence of the impact of correct pricing is clear.

Fitzjohns Avenue NW3

Grant Alexson Head of Sales

25%of our sales in the last 12

months were priced under £1.5m

020 7431 8686 [email protected] KnightFrank.co.uk/Hampstead

hampstead SALES 9

Exceptional space in the perfect placeNew End

A truly exceptional Village property that has been painstakingly rebuilt in a contemporary style and to an extremely high standard within this Grade II listed building.

4 bedrooms, 4 bathrooms, 2/3 reception rooms, large communal gym, private garden, secure gated parking.

Approximately 300 sq m (3,231 sq ft)

HAMPSTEAD NW3Share of freeholdGuide price: £5,500,000

Ground floor two bedroom apartmentFrognal Rise

Offered for sale is this superb ground floor apartment located in Hampstead’s premier development Mount Vernon, extending to just under 1,200 square feet.

2 bedrooms, 2 bathrooms, 1 reception room, leisure facilities, swimming pool, patio/terrace, porter/concierge, private parking.


hampstead SALES10

HAMPSTEAD NW3Share of freeholdGuide price: £1,650,000

hampstead SALES 11

Imposing new build double fronted detached houseRedington Road

An imposing double fronted detached home with an 85ft garden and swimming pool, located on one of Hampstead’s most prestigious roads between the fashionable Village centre and Hampstead Heath.

5 bedrooms, 4 bathrooms, 4 reception rooms, garden, swimming pool, private parking.


HAMPSTEAD NW3FreeholdGuide price: £8,950,000


hampstead LETTINGS12

The market: The cobbled streets and café culture make it one of the most sought after postcodes in London. Applicant numbers remain strong but the amount of stock on the market is 86% higher than in October 2011.

Our outlook: While rental growth has slowed this year, and in some price brackets decreased, we predict that the demand for properties will stay strong in 2013 as renting remains a popular option.

Who rents here: Hampstead is a trendy and safe neighbourhood and as such attracts a wealth of celebrities and international families alike.

LETTINGS OVERVIEW

39%of our applicants are looking

to spend between £500-£750 per week

73%of our tenancies this year

have been under £1,000 per week

LETTINGSBY NUMBERS

86%more stock on the market in

NW3 in Sept 2012 than Sept 2011

LETTINGS INSIGHT

“The most exciting emerging hotspot is England’s Lane in Belsize Park – a lively, vibrant street with cafés, restaurants and a quality pub, just a short walk from Primrose Hill. We have seen a surge in demand for one and two bed fl ats up to £750 per week.”

Our team in action: We have successfully negotiated a sole-agency agreement with a North London Premiership football club and are now their agent of choice when searching for property in Hampstead. We have successfully housed two new players and the assistant manager in the past two months.

Hampstead NW3

Greg Bennett Head of Lettings


hampstead LETTINGS 13

Spacious garden apartment

Well Walk

A stunning garden apartment located on one of the finest streets of Hampstead Village.

3 double bedrooms, 2 bathrooms, reception room with gas log fire and French doors, eat-in kitchen, separate utility area, landscaped garden, parking space for 1 car.


HAMPSTEAD NW3Available furnished or unfurnishedGuide price: £1,250 per week

Period property with commanding viewsEast Heath RoadA newly refurbished period conversion on the Heath with breathtaking views.

Master bedroom with en suite bathroom, second double bedroom, separate shower room, reception room, separate kitchen.

Approximately 81 sq m (876 sq ft)

hampstead LETTINGS14

HAMPSTEAD NW3Available furnished or unfurnishedGuide price: £650 per week

hampstead LETTINGS 15

Contemporary townhouseFellows RoadA modern townhouse in Belsize Park with parking.

3 bedrooms, 2 bathrooms, large reception room, modern kitchen, spacious media room/playroom, utility room, study, private garden, driveway for 1 car.


BELSIZE PARK NW3Available unfurnishedGuide price: £950 per week


16

Gayton RoadHAMPSTEAD NW3 Guide price: £1,895,000

Mount VernonHAMPSTEAD NW3 Guide price: £2,500,000

Hollycroft AvenueHAMPSTEAD NW3 Guide price: £5,950,000

The Bishops AvenueHAMPSTEAD N2 Guide price: £9,500,000

Spaniards RoadHAMPSTEAD NW3 Guide price: £3,000,000

Hampstead GroveHAMPSTEAD NW3 Guide price: £5,750,000

hampstead SALES

SOLD

SOLD

SOLD

SOLD

SOLD

SOLD


17

Upper Hampstead WalkHAMPSTEAD NW3 Guide price: £575 per week

Belsize AvenueBELSIZE PARK NW3 Guide price: £825 per week

FrognalHAMPSTEAD NW3 Guide price: £1,300 per week

New EndHAMPSTEAD NW3 Guide price: £1,500 per week

Grove PlaceHAMPSTEAD NW3 Guide price: £995 per week

Gardnor MansionsHAMPSTEAD NW3 Guide price: £1,050 per week

HAMPSTEAD LETTINGS

LET

LET

LET

LET

LET

LET


ISLINGTON 19

Getting around: Angel, Highbury & Islington, Arsenal Highbury & Islington

Best known for: Upper Street with its endless choice of restaurants and bars, high street shops and one-off boutiques. Its fabulous blend of garden squares, beautiful Georgian and Victorian terraces, excellent recreational areas at Highbury Fields, and vibrant and diverse selection of shops and restaurants to rival any of those across the capital.

Borough: Islington

Area: Islington is a wonderfully diverse area where you will find many different neighbourhoods such as leafy Canonbury and Barnsbury with its beautiful tree lined roads and squares, Highbury with its lovely traditional village-like feel, De Beauvoir town which is steeped in history and finally Angel with its close proximity to The City. Islington has something for everyone with some of the capital’s finest markets (Camden Passage, Exmouth Market, Chapel Market), sports and leisure facilities (including Highbury Fields) and of course the Emirates stadium (home of Arsenal Football Club).

Social and cultural attractions: As well as theatres including the Almeida and Sadler’s Wells, Islington is home to The Estorick Collection which is an Italian modern art gallery. For evening entertainment, Islington has a large selection of pubs, bars and restaurants on and around Upper Street. The Angel centre on the high street combines shopping with restaurants, a cinema and a music venue, and for everyday groceries there is a good choice of supermarket chains locally. The Business Design Centre (formerly the Royal Agricultural Hall) is one of London’s iconic exhibition centres, playing host to over 80 exhibitions and 250 conferences every year, such as the London Arts Fair.

Sports and leisure facilities: Highbury has an impressive 27.5 acres of open space at Highbury Fields with tennis courts and leisure centre. Islington is also home to the Arsenal football stadium which showcases music concerts as well as football matches.

Our favourite places: Fredericks Restaurant for modern European cuisine; The Albion and The Canonbury pubs for great pub food; Browns restaurant and bar for delicious cocktails; Camden Passage for boutique shops and antique finds.

ISLINGTONAREAS COVERED N1 N5 N7 EC1 WC1 N16 NC1

ISLINGTON SALES20

The market: Islington ranks amongst the top performers in the number of transactions that take place, with an unrelenting demand throughout all price brackets. This eclectic and dynamic environment mostly attracts buyers from £300,000 to £4m.

Our outlook: We envisage Islington to remain one of the key growth sectors within the London residential market, with demand increasing not just across London, but globally.

Who buys here: A very desirable choice for many City workers, media executives and those who are location focused.

SALES OVERVIEW

556,000Our global residential search

has more than

visitors per month from around the world

SALESBY NUMBERS

20Since we opened our

doors two months ago, potential buyers from

diff erent countries have viewed properties for sale

through our website

SALES INSIGHT

“The biggest trend is the development of the area east of Islington, with services from Highbury & Islington to Canada Water now linking Canary Wharf via the East London Line extension. The redevelopment of the Kings Cross area includes 2,000 new homes and six new streets.”

Daniel Omell Head of Sales

98%of the guide price on sales

across our 19 London offi ces in the last 12 months

On average we have achieved

Our team in action: We opened the doors to our new Islington offi ce at the end of August this year. Our experienced team will take the time to understand what makes your home and its location special, so that we can fi nd buyers and tenants who will feel as at home there as you do. To fi nd out what we can do for you drop in to our offi ce at 353 Upper Street.

020 3657 7340 [email protected] KnightFrank.co.uk/Islington

ISLINGTON SALES 21

An impressive four bedroom period house in this fabulous location Willow Bridge Road

A magnificent Victorian semi-detached house at the top of Willow Bridge Road, offering superb proportions over four floors and wonderful views over the surrounding neighbourhood.

Master suite occupying the length and breadth of the house over the first floor, 3 further bedrooms, bathroom, 2 reception rooms, bespoke kitchen, utility room, air conditioning, conservatory, large secure parking area, mature rear garden.

Approximately 284.27 sq m (3,060 sq ft)

CANONBURY N1FreeholdGuide price: £3,500,000

ISLINGTON SALES22

Fabulous loft style penthouse apartment in the very heart of IslingtonGaskin Street

This unique property is entered via private gates into the inner courtyard and enjoys fabulous light throughout and views over Islington Green and east across the City.

Master bedroom with en suite bathroom and balcony, 2 further bedrooms, bathroom, substantial kitchen/dining area, reception room, south west facing terrace, lift, secure parking.


ISLINGTON N1Leasehold: approximately 987 yearsGuide price: £3,250,000


020 7349 4300 [email protected] www.knightfrank.co.uk/chelsea

AREA 23

ISLINGTON LETTINGS24

The market: Levels of prospective tenants in Islington are currently very high but unfortunately the same cannot be said for stock levels across the whole of Islington. Islington certainly needs a surge of available stock to off er to our portfolio of tenants.

Our outlook: We believe the buoyant market that is usually experienced over the summer months will come later in the year and October and November will be busy months in Islington. We currently have many corporate clients looking to move to the area.

Who rents here: City professionals with great budgets looking for a prime property in the core Islington area.

LETTINGS OVERVIEW LETTINGSBY NUMBERS

LETTINGS INSIGHT

“The biggest new trend in my market is overseas investors. The most exciting emerging hotspots are the areas surrounding City Road and Old Street where there are many new iconic developments being completed over the next couple of years.”

Lauren Rapacioli Head of Lettings

Our team in action: This beautiful house was on another agents’ portfolio for over two months and they received no off ers. We were instructed to market the house alongside them. Within four days we had an off er from a professional couple from our Corporate Services department.

St Peters Street N1

200tenants looking for properties between £350 and £1,500 per

week

We have in excess of

85%of our tenancies

Corporate tenants and relocations exceed

221countries in the past 12 months

KnightFrank.com has been visited by people from


ISLINGTON LETTINGS 25

Wonderful house only moments from Upper StreetSt Peter’s Street

A stunning three bedroom house arranged over four floors which has been beautifully refurbished throughout and boasts many original features including original fireplaces in the reception room.

3 double bedrooms, 2 bathrooms, double reception room, large kitchen/diner, utility room, mature garden.


ISLINGTON N1Available furnished Guide price: £1,300 per week

islington LETTINGS26

Former Arsenal StadiumHighbury Square

A wide selection of one, two and three double bedroom apartments in this exclusive development.

Fully fitted kitchens, modern bathrooms and en suites with heated ceramic floors, timber veneered front doors, stainless steel ironmongery, heated timber laminate floors through the entrance hall and living space, carpeting throughout the bedrooms, 24 hour concierge service, secure parking (under separate negotiation).

HIGHBURY N5Available furnished or unfurnishedGuide price: £355 - £800 per week

ISLINGTON LETTINGS 27

In the heart of the City

Stylish fifth floor apartment

Bezier, City Road

Lamb’s Passage

Fourth floor two bedroom apartment facing to the side of the block in this outstanding new 24 hour portered development on the corner of Old Street and City Road.

2 bedrooms, contemporary bathroom suite, fully fitted kitchen, interior designed furniture package, porcelain flooring with under floor heating. The block also benefits from 2 communal terraces and a gym, sauna and steam room.

Approximately 71 sq m (768 sq ft)

Finished to a high standard, this stylish one bedroom apartment is available to rent in the smart No 1 Lamb’s Passage development in the heart of the City.

1 bedroom, bathroom with shower, modern fully equipped kitchen, wooden floors, air conditioning, interior designed furniture package.

ISLINGTON EC1Available unfurnishedGuide price: £700 per week

ISLINGTON EC1Available unfurnishedGuide price: £430 per week


INTERNATIONAL CUISINE C/O UPPER STREET

WORLD CLASS DANCE PERFORMANCES C/O SADLER’S WELLS

GLOBAL EXPOSURE OF YOUR ISLINGTON PROPERTY C/O KNIGHT FRANK

ISLINGTON KNOWLEDGE WITH A GLOBAL REACH

Knight Frank Islington - now open at 353 Upper Street, London N1 0PD

Speak to our team now on 020 3657 7340 if you are thinking of selling or letting your home.

You can also follow us on twitter @Islington_n1

We know that when it comes to choosing an agent to sell or let your home you want to be confident that you have the very best team working for you. At Knight Frank we make sure that the process is handled with care and professionalism every step of the way. And with a network of 245 offices in the UK and around the world, we are ideally placed to match your property to the perfect buyer or tenant, whether they are in Moscow or Mayfair.

INTERNATIONAL CUISINE C/O UPPER STREET

WORLD CLASS DANCE PERFORMANCES C/O SADLER’S WELLS

GLOBAL EXPOSURE OF YOUR ISLINGTON PROPERTY C/O KNIGHT FRANK

ISLINGTON KNOWLEDGE WITH A GLOBAL REACH

Knight Frank Islington - now open at 353 Upper Street, London N1 0PD

Speak to our team now on 020 3657 7340 if you are thinking of selling or letting your home.

You can also follow us on twitter @Islington_n1

We know that when it comes to choosing an agent to sell or let your home you want to be confident that you have the very best team working for you. At Knight Frank we make sure that the process is handled with care and professionalism every step of the way. And with a network of 245 offices in the UK and around the world, we are ideally placed to match your property to the perfect buyer or tenant, whether they are in Moscow or Mayfair.

st john’s wood 31

Getting around: St John’s Wood, Maida Vale, Regent’s Park

Best known for: Abbey Road Studios, Lord’s Cricket Ground, Regent’s Park, The American School in London and the exclusive Avenue Road.

Borough: City of Westminster

Area: As well as St John’s Wood, which was one of the first parts of London to eschew Victorian terraces for large villas, we cover Primrose Hill, with its panoramic views and beautiful high street; Regent’s Park, where properties are of an outstanding scale and elegance; and Little Venice, which impresses with scenes of weeping willows, swans and brightly-coloured narrow boats.

Social and cultural attractions: Regent’s Park is perfect for summer picnics and home to both London Zoo and an open-air theatre. For shoppers, St John’s Wood High Street has a village feel while being home to names such as Whistles and Joseph. Abbey Road Studios, where the Beatles shot their iconic Abbey Road album cover, attracts visitors from far and wide.

Sports and leisure facilities: Lord’s Cricket Ground features a private gym, a cricket academy and historic ‘real tennis’ courts, while serious swimmers have an Olympic-size swimming pool in Swiss Cottage. Running, cycling, ball sports and boating all take place at Regent’s Park.

Our favourite places: Lemonia, a family-run Greek restaurant; The Duke of York, a traditional pub; Oslo Court, for classic French cuisine; Harry Morgan, a New York style deli; and The Lansdowne Pub, a fabulous gastropub.

ST JOHN’s WOODAREAS COVERED NW1 NW8 W9

st john’s wood SALES32

The market: We are seeing an increasing number of international buyers as well as younger buyers. St John’s Wood is primarily a domestic, family market although international buyers have always been attracted here due to the American School and the mosque.

Our outlook: We anticipate steady, reliable growth. Properties that are realistically priced will sell more quickly. Buyers in our area are educated about the market and it is a considered purchase for them, as they will be owner-occupiers rather than second home owners.

Who buys here: Domestic and international families.

SALES OVERVIEW

472We have

potential buyers on our books looking to spend a collective

total of £4.42bn

SALESBY NUMBERS

897Every day our properties

are viewed

times through our award-winning website

SALES INSIGHT

“The biggest new trend in my market is wealthy European buyers, especially from France and Italy. The most exciting emerging hotspot is the area next to Primrose Hill, East of Avenue Road, with extensive redevelopment.”

Our team in action: We advised our client to launch the property at a realistic price in order to create competitive interest. We received 13 off ers and the fi nal buyer completed quickly. The fi nal sales fi gure was 44% over the asking price.

Avenue Close NW8

James Simpson Head of Sales

215countries

In the past eight months KnightFrank.co.uk/

St-Johns-Wood has been visited by people from

020 7586 2777 [email protected] KnightFrank.co.uk/St-Johns-Wood

st john’s wood SALES 33

Beautiful garden flat in prime Little VeniceRANDOLPH AVENUE

Situated in this wonderful stucco fronted building, which is only a short walk from the amenities and shops of Clifton Road, lies this attractive maisonette with an extensive 53ft garden and its own private entrance.

Master bedroom with en suite bathroom, 2 further bedrooms, bathroom, reception room, kitchen/breakfast room, utility room, guest cloakroom, conservatory, storage vault, garden.


LITTLE VENICE W9Share of freehold: 93 years Guide price: £2,600,000

st john’s wood SALES34

Six bedroom period houseClifton Hill

This beautifully refurbished and well-proportioned period house is situated in a quiet cul-de-sac.

6 bedrooms, 4 receptions rooms, 5 bathrooms, private garden/patio terrace, garage, 1 off-street parking space. Approximately 386.1 sq m (4,156 sq ft)

ST JOHN’S WOOD NW8Freehold Guide price: £6,950,000

st john’s wood SALES 35

Imposing six bedroom villa Prince Albert Road

Substantial interior designed stucco period villa located on the prestigious Prince Albert Road with front and rear gardens and off-street parking for several cars, set behind electric gates.

6 bedrooms, 3 reception rooms, 5 bathrooms, swimming pool, garden, off-street parking.


REGENT’S PARK NW1Freehold Guide price: £14,950,000


st john’s wood LETTINGS36

The market: British tenants are still populating St John’s Wood and the surrounding areas, closely followed by Americans. The market has been changeable this year and we seem to be in demand of the smaller properties ranging from £400 per week - £600 per week.

Our outlook: Rents have decreased and for most of the year the market has been in favour of tenants. We defi nitely have plenty of available properties in every pocket of the market, so when the market turns we are confi dent we have the best properties to off er.

Who rents here: Young professionals, families and students.

LETTINGS OVERVIEW

27%of our tenants are looking to

spend in the region of £500 - £750 per week for

rental property

93%of our tenants are corporate tenants

LETTINGSBY NUMBERS

22%of our tenants come from

the United States

LETTINGS INSIGHT

“The biggest new trend in my market is one - two bedroom properties under £800 per week. The best thing to happen to the market would be for applicants to start looking again so that we can rent the properties we are currently marketing.”

Our team in action: We pride ourselves on the quality of our service, keeping our clients coming back to us again and again. As one client commented: ‘I want to thank you so much for your hard eff orts in such a diffi cult market and to say how impressed I have been by the way you look after your clients. I have to say as agents you are the top of my list for effi ciency.’ Grazyna Green (landlord).

St Ann’s Terrace NW8

Louise O’Driscoll Head of Lettings


st john’s wood LETTINGS 37

White stucco fronted apartment

Sir Richard Branson’s houseboat

Opposite Regent’s Park

Heart of Primrose Hill

Clifton Gardens

Blomfield Road

Prince Albert Road

Gloucester Avenue

This immaculately presented property offers bright and spacious accommodation with high ceilings throughout.

2 bedrooms, 2 bathrooms (1 en suite), open-plan kitchen/reception room with working fireplace, balcony.

Approximately 71.25 sq m (767 sq ft)

MAIDA VALE W9Available furnished or unfurnishedGuide price: £630 per week

A unique home docked in Regent’s Canal.

2 bedrooms, bedroom 3/family area, shower room, reception room/dining room, kitchen, separate utility room, roof terrace, private garden.

Approximately 88.99 sq m (958 sq ft)

LITTLE VENICE W9Available part furnishedGuide price: £850 per week

A newly refurbished family home benefitting from a garden and off-street parking.

6 double bedrooms, 5 bathrooms, 4 reception rooms, eat-in kitchen.


REGENT’S PARK NW1Available part furnishedGuide price: £6,250 per week

An architecturally designed family home with self-contained studio.

5 bedrooms, 5 bathrooms, 3 reception rooms, kitchen, 2 terraces, garden.


PRIMROSE HILL NW1Available furnished or unfurnishedGuide price: £3,250 per week

st john’s wood LETTINGS38

A grand family home Albany Terrace

Set within a private and gated secure terrace and arranged over five floors, this property has been refurbished to an extremely high standard. Master bedroom with en suite bathroom and dressing area, 3 further bedrooms, 3 further bathrooms (2 en suite), 2 reception rooms, family room, utility room, large eat-in kitchen, wine cellar.


REGENT’S PARK NW1Available unfurnishedGuide price: £5,000 per week


020 7349 4300 [email protected] www.knightfrank.co.uk/chelsea

39

40 st john’s wood SALES

Randolph CrescentLITTLE VENICE W9 Guide price: £2,400,000

THE MARLOWESST JOHN’S WOOD NW8 Guide price: £2,595,000

Marlborough PlaceST JOHN’S WOOD NW8 Guide price: £9,500,000

Hanover TerraceREGENT’S PARK NW1 Guide price: £14,000,000

St Marks CrescentPRIMROSE HILL NW1 Guide price: £2,850,000

Brunswick PlaceREGENT’S PARK NW1 Guide price: £6,750,000

SOLD

SOLD

SOLD

SOLD

SOLD

SOLD


41st john’s wood LETTINGS

Hall RoadST JOHN’S WOOD NW8 Guide price: £685 per week

Yoo BuildingST JOHN’S WOOD NW8 Guide price: £1,100 per week

Sutherland Avenue MAIDA VALE W9 Guide price: £2,950 per week

Berkley GrovePRIMROSE HILL NW1 Guide price: £3,500 per week

LET

Wellington Court ST JOHN’S WOOD NW8 Guide price: £2,100 per week

LET

LET

LET

Princess Road PRIMROSE HILL NW1 Guide price: £1,250 per week

LET

LET


RESIDENTIAL SERVICES42

We put clients at the heart of what we do and our service levels are driven by our clients’ needs. As a result we have created an environment that nurtures the best people in the business and genuinely allows us to give the best advice – the sort of advice you’d give your family. What can be a life-changing process for many people – buying, selling, renting, or letting a property – is handled

with care, discretion, service, and professionalism at all times.

Below is an overview of our specialist teams and how they can help. If you can’t find what you are looking for here, please visit: KnightFrank.com/Residential

Whether you are buying a beautiful house for personal enjoyment or want to invest in a portfolio of rental properties, we can help.

WHY KNIGHT FRANK?

• Finding a property to rent• Arranging a tenancy• Rental property for corporates• Relocation services• Valuations• Services for landlords• Letting your property

Renting, letting and managing residential property

Property in Central London please contact Noel Flint on +44 (0)20 7861 5020

UK property outside of London please contact Nick van Zeller on +44 (0)1488 682 726

UK farms and estates please contact Clive Hopkins on +44 (0)20 7861 1064

Property outside of the UK please contact Paddy Dring on + 44(0)20 7861 1061

Knight Frank’s property search service contact Philip Selway on +44 (0) 20 7591 2647

For more information about financing and mortgage options with Knight Frank Finance, please contact Simon Gammon on +44 (0)20 7268 2581 or visit KnightFrankFinance.co.uk

• Finding a property to buy• Financing your purchase• Property search and acquisition• Services for international buyers• Investing in property portfolios• Valuations

Buying and selling residential property

For more information on renting, letting and property management with Knight Frank please contact Tim Hyatt on +44 (0)20 7861 5044 or visit KnightFrank.co.uk/Lettings

To find out more about Knight Frank’s consultancy services contact David Peters on +44 (0)20 7861 1067

Our world-class research team ensures that we lead the field in understanding the key drivers of the residential property market. This means that we price and market property to deliver a sale or rental in the most effective way.

• Valuations• Rural consultancy• Country house consultancy• Renewables and sustainability• Rural consultancy• Property research

Consulting and property research

For more information about our residential development team please contact Stephan Miles-Brown on +44 (0)20 7861 5403

• New Homes• Residential Development

Other areas of expertise

• Relocation services• Property management• Lettings management

DIRECTORYGlobal Headquarters

+44 (0)20 7629 817155 Baker StreetLondon, W1U 8ANUnited Kingdom

Country Department


International Department


Mayfair+44 (0)20 7499 [email protected]

Notting Hill+44 (0)20 7229 [email protected]

Richmond (Sales only)+44 (0)20 8939 [email protected]

Riverside+44 (0)20 7590 [email protected]

South Kensington+44 (0)20 7871 [email protected]

St John’s Wood+44 (0)20 7586 [email protected]

Wandsworth (Sales only)+44 (0)20 8682 [email protected]

Wapping & City+44 (0)20 7480 [email protected]

Wimbledon+44 (0)20 8946 [email protected]

Regional Offi ces Sales & Lettings

Ascot+44 (0)1344 [email protected]

Cobham+44 (0)1932 [email protected]

London Sales & Lettings

Battersea+44 (0)20 3597 [email protected]

Belgravia+44 (0)20 7881 [email protected]

Canary Wharf & Royal Docks+44 (0)20 7512 [email protected]

Chelsea+44 (0)20 7349 [email protected]

Fulham+44 (0)20 7751 [email protected]

Hampstead+44 (0)20 7431 [email protected]

Hyde Park+44 (0)20 7861 [email protected]

Islington+44 (0)20 3657 [email protected]

Kensington+44 (0)20 7938 [email protected]

Knightsbridge+44 (0)20 7591 [email protected]

Marylebone+44 (0)20 7483 [email protected]

Esher+44 (0)1372 [email protected]

Regional Offi ces Sales

Basingstoke+44 (0)1256 [email protected]

Bath+44 (0)1225 [email protected]

Beaconsfi eld+44 (0)1494 675368beaconsfi [email protected]

Berkhamsted+44 (0)1442 [email protected]

Bristol+44 (0)117 317 [email protected]

Cheltenham+44 (0)1242 [email protected]

Cirencester+44 (0)1285 [email protected]

Exeter+44 (0)1392 [email protected]

Guildford+44 (0)1483 [email protected]

Harrogate+44 (0)1423 [email protected]

Haslemere+44 (0)1428 [email protected]

Henley-on-Thames+44 (0)1491 [email protected]

Hereford+44 (0)1432 [email protected]

Horsham+44 (0)1403 [email protected]

Hungerford+44 (0)1488 [email protected]

Oxford+44 (0)1865 [email protected]

Sevenoaks+44 (0)1732 [email protected]

Sherborne+44 (0)1935 [email protected]

Stratford-upon-Avon+44 (0)1789 [email protected]

Sutton Coldfi eld+44 (0)121 3627878sutton.coldfi [email protected]

Tunbridge Wells+44 (0)1892 [email protected]

Virginia Water+44 (0)1344 [email protected]

Winchester+44 (0)1962 [email protected]

Worcester+44 (0)1905 [email protected]

Scotland

Edinburgh+44 (0)131 222 [email protected]

Lauder+44 (0)1578 [email protected]

Ireland

Dublin+353 (0)1 662 [email protected]

International

For a full listing of our international offi ces please visit KnightFrank.com

Important Notice

1. Particulars: These particulars are not an off er or contract, nor part of one. You should not rely on statements by Knight Frank LLP in the particulars or by word of mouth or in writing (‘information’) as being factually accurate about the property, its condition or its value. Neither Knight Frank LLP nor any joint agent has any authority to make any representations about the property, and accordingly any information given is entirely without responsibility on the part of the agents, seller(s) or lessor(s).

2. Photos etc: The photographs show only certain parts of the property as they appeared at the time they were taken. Areas, measurements and distances given are approximate only. Any computer generated images (CGI) are indicative only.

3. Regulations etc: Any reference to alterations to, or use of, any part of the property does not mean that any necessary planning,

building regulations or other consent has been obtained. A buyer or lessee must fi nd out by inspection or in other ways that these matters have been properly dealt with and that all information is correct.

4. VAT: The VAT position relating to the property (where applicable) may change without notice.

Whilst every eff ort has been made to ensure the accuracy of the information contained in this publication, the publisher cannot accept responsibility for any errors it may contain. All rights reserved. No part of this publication may be reproduced, stored in a retrieval system, or transmitted in any form or by any means, electronic, mechanical, photocopying, recording or otherwise, without prior permission of Knight Frank LLP, 55 Baker Street, London W1U 8AN.

Knight Frank LLP is a limited liability partnership registered in England with registered number OC305934. Our registered offi ce is 55 Baker Street, London, W1U 8AN, where you may look at a list of members’ names. This report is published for general information only and not to be relied upon in any way. Although high standards have been used in the preparation of the information, analysis, views and projections presented in this report, no responsibility or liability whatsoever can be accepted by Knight Frank LLP for any loss or damage resultant from any use of, reliance on or reference to the contents of this document. As a general report, this material does not necessarily represent the view of Knight Frank LLP in relation to particular properties or projects. Reproduction of this report in whole or in part is not allowed without prior written approval of Knight Frank to the form and content within which it appears.

Cover image: New End, see page 9

This Local View is one of a series of fi ve publications covering the London area. To view and download a PDF or request a hard copy please visit KnightFrank.com/Publications

Welcome to Local View 2012. In the pages that follow, we hope to give you an insight into the unique London property market and showcase a selection of the most beautiful London properties currently for sale and to rent with Knight Frank.

The London market has performed surprisingly well during the fi rst half of the year, despite the economic uncertainty that persists in the Eurozone and in many of the wider, global markets. The capital became the focus of the world during our Great British Summer and our London offi ces experienced a surprising level of activity throughout most of this period.

Looking ahead, there appears to be a two stream market divided by the £2m stamp duty threshold. Below this level, the market is active, whilst above the threshold the market is patchy.

The continued uncertainty surrounding how properties owned in company names, or bought by ‘non-natural persons’, will be treated, has put some Prime and Super Prime buyers into ‘wait and see mode’ until the government’s consultation document is released at the beginning of December 2012. Despite this, London continues to attract interest from overseas investors, and the capital remains the number one destination in which to live, in the minds of many individuals from around the world.

Knight Frank has continued to invest in its network, both in London and overseas. We have opened new offi ces in Islington and Marylebone, and the Riverside team has moved to a spectacular offi ce at Albion Riverside. The team now covers the Battersea sales and rental markets. Overseas we have opened offi ces in Dubai, Qatar, Calcutta and South Africa, thus extending our reach to capture buyers and tenants from around the world.

I trust you will enjoy reading the articles contained within this edition of Local View and leafi ng through the many pages of wonderful properties that our clients have asked us to fi nd buyers or tenants for.

If you see any properties that interest you or if you would like advice on any property matter then please do not hesitate to get in touch with any one of our offi ces.

WELCOME

Noel FlintHead of London Residentialnoel.fl [email protected]

The smartest places NEAR YOU

The smartest place to start

The smartest places from around the world

We’ve made property search seamless – whether relaxing at home or by the pool on holiday. Our multi-lingual website and free app for iPad and iPhone give you instant access to the world’s best properties for sale or rent, from London to Long Island. All backed by our global network of experienced local agents.

Discover more reasons for choosing Knight Frank – talk to our experienced team on +44 (0)20 3641 1754 or visit

THE WORLD’S FINEST PROPERTIES AT YOUR FINGERTIPS

KnightFrank.co.uk/FranklySpeaking

LOCAL VIEWHyde Park | Marylebone | Mayfair

Issue 22012

Documents

Knight Frank North