3 Most Sought After Addresses in London
2014 saw UK house price rise almost twice as high as predicted. In the capital, where pressure on land is at its greatest, there were some notable sales, all of which are confirmed by Land Registry data. Many of these historic record selling prices have been newly developed properties benefitting from luxury interior designers in London.
Many of these historic record selling prices have been newly developed properties benefitting from luxury interior designers in London. An apartment on Princes Gate which overlooks Hyde Park near Knightsbridge was the biggest deal of 2014 and cost almost twice as much as the second most expensive property, a £27million terraced home in Thornwood Gardens in Kensington, close to Holland Park.
A penthouse flat in Montpelier Walk, Knightsbridge, sold for £24.5million making it the fourth most expensive property, closely following by 7 bedroom mansion on Holland Villas Road in Holland Park which sold for £24million.
A flat in Trevor Square, Knightsbridge sold for £24million and shared the fifth spot in the top 10. A new build house on Winnington Road in Hampstead was the seventh biggest deal of the year and exchanged hands for £21million. The last of the £20million+ sold properties was a lateral flat on Eaton Place in Belgravia cost £20.1million. The ninth most expensive deal of the year was Phillimore Gardens in Kensington which sold for £19.75million. Making up the top 10 was a home in Cottesmore Gardens in Kensington which cost £19.5million.
Here we look at 3 of the most sought after addresses in London where sales may not have achieved all time record prices in 2014, perhaps because property is so scarcely available in the first place.
Egerton Crescent in South Kensington
Built in the 1840s, Egerton Crescent is named the most expensive street in the country for the second year running according to Lloyds Bank. With its white stucco-fronted facade and neatly-trimmed rows of box trees, it is certainly a beautiful street in the Royal Borough of Kensington and Chelsea.
The average price of a house there is more than £8 million, with one four-bedroom family home recently selling for a £12 million. Although there are no great gardens at the back, there is a communal garden in front of the crescent.
In recent times, prices have increased significantly. A 5 bedroom house sold for just £430,000 in 1998, before making £5.1million in 2006 and £10.5million in 2011. Nonetheless, Egerton Crescent is completely eclipsed by Kensington Palace Gardens which runs alongside Kensington Gardens. Kensington Palace Gardens is not often included in any lists as it is such a rarity that a house ever comes on the open market.
Kensington Palace Gardens Regularly listed as the most expensive place to buy a house in London, the average property is reportedly valued at around £41million, that’s more than 165 times the value of the average UK home. It is a street on a scale dwarfing other private homes in London.
Armed with police officers at both ends of the street, no other road in London is protected in this way. This need for security is intensified by the presence of Kensington Palace, home to Prince William, Kate and their baby George.
Construction of the street, which runs along Kensington Gardens between Notting Hill and Kensington, began in the 1840s. Gradually, throughout the 20th century, the houses became unaffordable to run as family homes and were sold off as ambassadors' residences. It is only in the last couple of decades, as oligarchs and industrialists have accumulated extreme wealth, that the buildings have been transferred gradually back into private ownership.
Eaton Square in BelgraviaThe second most expensive is Eaton Square, one of Belgravia’s most popular garden squares, where the average property is worth £15.5m. The houses in Eaton Square are large, predominantly three-bay-wide buildings, joined in regular terraces in a classical white stucco style, with four or five main storeys and a mews house behind. The square is one of London's largest and is divided into six compartments
After World War II, when many of London’s opulent properties were converted to institutional use, Eaton Square remained almost wholly residential. Some of the houses remain undivided, but much of the square has been converted into flats and maisonettes by the Grosvenor Estate. These are often lateral conversions, cutting across more than one of the original houses. According to the Land Registry, two of these lateral apartments have achieved over £20m in the last 2 years. Most but not all of the freeholds still belong to the Grosvenor Group, and the present Duke of Westminster has his own London home in the square.
At Landmass, we invite private commissions from end users and investors wanting to produce the most prised configuration of their property complimented by timeless interiors and beautiful features. Our in-house team of Interior Designers in London have an unrivalled imagination that has earned Landmass numerous accolades including Best Residential Property in the United Kingdom.Let’s discuss your project on 020 7439 8095.