LOCAL VIEW Belgravia | Chelsea | Kensington Knightsbridge | Notting Hill

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LOCAL VIEW Belgravia | Chelsea | Kensington Knightsbridge | Notting Hill | South Kensington

Spring/Summer 2013 Welcome to the Spring/Summer Edition of Local View 2013

In the following pages, we provide an insight into the unique London property market and showcase a selection of the most impressive London properties currently for sale and to rent with Knight Frank.

The prime London property market continues to outperform, despite continued economic uncertainty. The clarity provided by December’s draft finance bill around the taxing of £2m+ properties owned through companies, resulted in a surge in activity in the early part of the year after months of uncertainty in the wake of the March 2012 budget.

Activity levels are robust across all price bands in the market, and prices are still increasing, with levels already more than 20% higher than the previous peak in prices back in March 2008.

However, it is interesting to note that growth at different price levels is moving at slightly different speeds. Since stamp duty for £2m+ purchases was raised from 5% to 7% in March last year, prices for properties under this threshold are advancing more quickly than those above the threshold. The exception is for properties worth £5m+, where prices are also climbing more steadily.

London retains its reputation as a leading global hub and international demand remains a key factor driving price growth. Overseas buyers continue to view London property as a safe haven to invest in.

Over the past 12 months, Knight Frank has expanded its global network, both in London and overseas, attracting more buyers and tenants from around the world. Our relationships with our overseas offices have never been stronger. Not only do all offices share a central database, but we have established teams looking after Russian, South Asian and Chinese buyers. We have also developed associations with leading real estate agents across Europe and America.

Our acquisition of additional premises in Lower Belgrave Street means that we are the only national agent with dedicated sales and lettings offices in Belgravia. All our offices are supported by our continued investment in technology, allowing people to view Knight Frank properties from wherever they are in the world in one of 16 languages, including Russian and Mandarin. Moreover, our global website receives over one million web visits a month, giving our clients’ properties maximum exposure.

I trust you will enjoy reading the articles contained within this edition of Local View and leafing through the many pages of wonderful properties that our clients have asked us to find 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 offices.

Noel Flint Head of London Residential [email protected]

LOCAL VIEW Hyde Park | Marylebone Fitzrovia & Bloomsbury | Mayfair & St James’s

Spring/Summer Spring/Summer Spring/Summer Spring/Summer Spring/Summer 2013 2013 2013 2013 2013

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

Cover image: Westbourne Grove, see page 64 AREA 3 p13

CONTENTS p69 p33 4 London Market Overview 6 Belgravia 18 Chelsea 30 Kensington 42 Knightsbridge 54 Notting Hill 66 South Kensington 78 Knight Frank Service Directory 79 Knight Frank Office Directory

p22 p49 4

LONDON SALES MARKET SALES MARKET Prime central London residential property prices have continued their strong growth over the last 12 months. IN NUMBERS Prices are now more than 57% higher than the post- crisis market low in March 2009 and are around 20% higher than the previous market peak in March 2008.

Prime London price change In April, property values in prime The changes to the tax regime for in April 2013 central London rose by 0.7%, taking £2m+ properties owned through the annual growth to 7.7%. Prices for a company announced by the London’s best homes have risen 2.9% Chancellor last March also led to in 2013 to date. buyers adopting a more cautious approach. However, clarification 0.7% Interest among buyers for prime regarding the tax environment in central London homes remains December resulted in ‘pent up’ strong. The number of new buyers demand returning to the market, entering the market rose by 22% leading to higher levels of activity in Annual price change, in the first four months of the year the early months of 2013. to April 2013 compared to the same period in 2012. Property viewings were also up International demand for the very by 47% over this time. best London homes remains strong with overseas buyers viewing The market has faced some property in London as a safe haven 7.7% headwinds over the last year, however. investment. Over the 12 months to April 2013, overseas buyers The increase in Stamp Duty last accounted for 52% of all £2m+ prime Three month price change March to 7% had a noticeable impact, central London sales. to April 2013 with the price growth for properties valued at under £2m and over £5m In addition, the fall in value of the outperforming houses between pound against rival currencies has these price bands. Our view is that made the prospect of owning luxury the long term impact of the higher homes in the capital even more 2.5% rate will be to reduce transactions in appealing to international buyers the £2m-£3m bracket by around 5% who can benefit from the effective below the level they would otherwise discount of buying a London have been. property in their own currency.

A sharp divide Fig 1 Residential price change, indexed from March 2009

160.0 Who is buying? Top 20 nationalities buying £2m+ homes in prime central London, Q1 2012 to Q1 2013 150.0 1 United Kingdom 47.8% 11 Italy 1.7% 2 Russia 8.5% 12 South Africa 1.1% 140.0 3 France 3.1% 13 Greece 1.1% 130.0 4 United States of America 2.8% 14 Sweden 1.1% 5 China 2.8% 15 Switzerland 1.1% 120.0 6 United Arab Emirates 2.8% 16 Singapore 1.1% 7 India 2.6% 17 Saudi Arabia 1.1% 110.0 8 Nigeria 2.0% 18 Germany 0.9% 100.0 9 Turkey 1.8% 19 Ireland 0.9%

10 Hong Kong 1.8% 20 Australia 0.9% 2009 2010 2011 2012 2013 MARCH MARCH MARCH MARCH MARCH

Source: Knight Frank Residential Research Prime central London Source: Knight Frank Residential Research UK 5

LONDON RENTAL MARKET RENTAL MARKET Rents in prime central London have been falling for the last ten months. Despite this, they remain 22% higher than the IN NUMBERS trough of the market in the second quarter of 2009.

Prime London rental change in In April, rents declined by 0.1% four months of 2013 and are up by April 2013 taking the annual fall to 3.2%. 2.5% and 1.9% respectively. Other UnderpinningFig 1this trend is the areas which have seen rents climb weakness of the financial sector include Belgravia and Knightsbridge, 160.0 employment market which continues although by a more modest 0.3% to bear the brunt of week150.0 economic and 0.2%. -0.1% activity in the UK and Europe. 140.0 Activity levels suggest a healthier Indeed, while the headline figures picture is emerging across the confirm that rents in 130.0prime central prime central London market. The Annual rental change, London continue to fall, it is worth number of new tenancies agreed 120.0 to April 2013 noting the differing performance in prime central London is up 30%

across areas. 110.0 since January compared to the same period in 2012. Additionally, the High stock volumes combined100.0 with number of applicant viewings is up % low applicant levels means rents in in the first four months of the year, Jun-12 Jun-11 Jun-10 -3.2 St John’s Wood have declined byJun-09 albeit by just 2%. Sep-12 Sep-11 Sep-10 Sep-09 Dec-12 Dec-11 Dec-10 Dec-09 Mar-13 Mar-12 Mar-11 Mar-10 Mar-09 5.2% so far this year, while in Notting Fig 1 Hill and Mayfair average rents have Our view, informed by a positive 160.0 Year-on-year growth declined sinceFig 3January20.0% by 1.8% and outlook for employment and in new lettings volumes, 1.2% respectively. 15.0% business sentiment, is that rents in 150.0 January to April 2013 prime central London will increase by In contrast, prime rents10.0% in Kensington 1% this year, before posting growth 140.0 and Marylebone bucked5.0% the overall of 3%, 5%, 3.9% and 3.9% in the years to 2017. 130.0 trend and increased over0.0% the first -5.0% 120.0 30% -10.0%

110.0 -15.0%

100.0 -20.0% -25.0% Total2009 investment 2010 returns 2011 2012 2013 Jun-12 Jun-11 Jun-10 Jun-09 Sep-12 Sep-11 Sep-10 Sep-09 Dec-12 Dec-11 Dec-10 Dec-09 Mar-13 Mar-12 Mar-11 Mar-10 LondonMar-09 rental growth Annual total returns on prime central London Annual growth in prime central London rents property, capital growth and net income return

Fig 3 20.0% 35 Fig 4 15.0% 30 25 10.0% 20 5.0% 15 0.0% 10 -5.0% 5 -10.0% 0 -15.0% -5 -20.0% -10

-25.0% -15 2009 2010 2011 2012 2013 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012

Source: Knight Frank Residential Research Source: Knight Frank Residential Research 35 30 25 20 15 10 5 0 -5 -10 -15 -20 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012

BELGRAVIA 7

BELGRAVIA AREAS COVERED SW1E SW1H SW1P SW1V SW1W SW1X

Best known for: Buckingham Palace, foreign embassies, theatres and high-end hotels, bars and restaurants.

Borough: City of Westminster

Area: White stucco-fronted terraces, garden squares and a selection of upmarket boutiques and restaurants attract an international and cosmopolitan community. Belgravia is home to a number of international dignitaries and embassy buildings which create a safe and secure environment in which to live.

Social and cultural attractions: Elizabeth Street, Motcomb Street and Orange Square have been sympathetically designed to accommodate a selection of independent boutiques, delicatessens and Michelin-starred restaurants creating a village atmosphere.

Sports and leisure facilities: Belgravia is close to Hyde Park and St James’s Park. There are a number of beautiful garden squares offering tennis courts and children’s play areas. There is also Grace, London’s first private women’s club, which is a new vision for women’s health and lifestyle.

Our favourite places: The Thomas Cubitt, for fine British cuisine; The Goring, for the classic British dining and hotel experience; The Grenadier, for a pint in a traditional pub.

Getting around: Victoria, Sloane Square, Hyde Park Corner Victoria 8 BELGRAVIA SALES

SALES OVERVIEW SALES BY NUMBERS

The market: Turnkey and newly refurbished properties are still sought after by Every day at Knight Frank international buyers who see London property as a safe haven for their equity. Belgravia properties Large lateral flats are in short supply leading to increased demand, and new are viewed buildings with concierge and security are highly popular.

Our outlook: The market has become increasingly price sensitive and the reckless spending seen in recent years has become more considered, with buyers taking their time to secure a purchase. Buyers are coming from a larger 760 selection of countries and local demand remains strong. times on our award-winning website Who buys here: The regular Middle Eastern and Russian buyers are still active in the market, but it is getting harder to pinpoint the dominant nationalities as there are so many. On average we have achieved Montrose Place, SW1 95% of the guide price on sales in the past six months

On average

Our team in action: 76% Following an introduction from our Russian desk, we agreed terms on of traffic to our global a large lateral apartment in 10 Montrose Place. A complex transaction residential search is from international visitors ensured the two teams worked together to ensure that a successful sale was completed within eight weeks. The Belgravia Lettings team were then instructed to act as the Lettings agent for the new owner.

SALES INSIGHT

The biggest new trend in my market is price sensitive buyers who are considered in their offers and have no immediate driver to push forward within the market.

Stuart Bailey Head of Sales BELGRAVIA SALES 9

Wilton Place Five bedroom freehold townhouse

A comprehensively refurbished and immaculate five bedroom, freehold townhouse. BELGRAVIA SW1 Freehold Master bedroom with dressing room and en suite bathroom, 4 further bedrooms Guide price: £12,250,000 (3 with en suite bath/shower rooms), reception hall, drawing room, kitchen/breakfast room, dining room, media/family room, study, laundry room, wine cellar, sauna with wet room, guest cloakroom, roof terrace.

Approximately 428 sq m (4,600 sq ft)

+44 20 7881 7722 [email protected] KnightFrank.co.uk/belgravia 10 BELGRAVIA SALES

Passmore Street Spacious three bedroom townhouse A well-maintained and spacious freehold townhouse located moments from Sloane Square.

Master bedroom with en suite bathroom and separate dressing room, 2 further bedrooms, further bathroom, reception room, kitchen, dining room, garden, terrace, garage. EPC rating D.

Approximately 146 sq m (1,574 sq ft)

BELGRAVIA SW1 Freehold Guide price: £3,750,000

Eaton Square Lateral apartment with balcony

Arranged across two buildings with six windows overlooking Eaton Square, this well-presented, two bedroom, third floor flat is located at the favoured western end of Eaton Square.

Master bedroom with en suite bathroom, further bedroom with en suite bathroom, drawing room, kitchen, dining room, guest cloakroom, balcony, lift, porter.

Approximately 178 sq m (1,911 sq ft)

BELGRAVIA SW1 Leasehold approximately 63 years remaining Guide price: £5,950,000 BELGRAVIA SALES 11

Gerald Road Eaton Place

A six bedroom, stucco-fronted house located in one of the A well-presented two double bedroom flat in Eaton Place best streets in Belgravia. with the added benefit of owning a share of the freehold to the building. Master bedroom with dressing area and en suite shower room, 5 further bedrooms, 2 further bath/shower rooms, Master bedroom with dressing room and en suite bathroom, reception room, kitchen, dining room, study, balcony, garden. further bedroom, further bathroom, reception room, kitchen, dining room, utility room, patio garden, storage vault, terrace. Approximately 215 sq m (2,314 sq ft) Approximately 165 sq m (1,781 sq ft) including storage vault

BELGRAVIA SW1 BELGRAVIA SW1 Freehold Share of freehold Guide price: £4,995,000 Guide price: £3,950,000

Westmoreland Terrace Pimlico Road

A newly refurbished, four bedroom family house with a A rare-to-the-market one bedroom south-facing apartment good balance of reception and living space. located in the popular Orange Square.

Master bedroom with en suite bathroom, 3 further bedrooms, Bedroom, bathroom, reception room, kitchen, 3 shower rooms, reception room, kitchen, dining room, guest cloakroom, lift. EPC rating C. study/bedroom 5, patio. EPC rating C. Approximately 61 sq m (660 sq ft) Approximately 178 sq m (1,921 sq ft)

Pimlico SW1 BELGRAVIA SW1 Freehold Leasehold approximately 142 years remaining Guide price: £2,495,000 Guide price: £1,000,000

+44 20 7881 7722 [email protected] KnightFrank.co.uk/belgravia 12 BELGRAVIA LETTINGS

LETTINGS OVERVIEW LETTINGS BY NUMBERS

The market: Apart from February, where Belgravia rents rose by a modest 0.4%, average rents in prime Central London are 3.1% lower over the 12 month period. Although rents are down, the volume of lettings has risen with a 22.6% increase in new tenancies agreed in the first three months compared to the same period in 2012.

Our outlook: The current dip in headline rents is evidence of constraints on 56% affordability, combined with increased volumes of rental stock, as opposed to of new tenancies agreed over a downturn in demand. Our view is that rental growth will be positive with a the last six months were to international tenants forecast of 1% growth with improving employment prospects.

Who rents here: There has been an increase in the different nationalities of tenants looking to rent in Belgravia with applicants becoming increasingly We have seen a younger. Another trend we have noticed is an increase in tenants renting whilst they look for something to buy or have bought already and are in the process of modernising. 70% increase in available rental properties in the last six months

Belgravia Court SW1W Our team in action: After the initial introduction from our International Project Marketing 26% team based in Hong Kong, we were successfully instructed on a ‘turnkey’ of all new tenancies agreed apartment in a secure development in Belgravia. After a brief marketing this financial year have been in campaign, the apartment was successfully let to a Norwegian corporate excess of £3,000 per week tenant. A great example of our network of global offices working alongside each other.

LETTINGS INSIGHT

The most exciting emerging hotspot is the area surrounding Victoria Street and St James with the regeneration of Cardinal Place and the introduction of numerous newbuild schemes such as Wellington House, with 24 hour concierge and secure parking.

Tom Smith Head of Lettings BELGRAVIA LETTINGS 13

Chester Square Exceptional Grade II listed corner house on Chester Square Grade II listed corner house, one of the largest houses in the Square.

Master bedroom with en suite bathroom and dressing room, a further double bedroom with en suite bathroom and dressing room, 3 further double bedrooms all with en suite bathrooms, drawing room, dining room, family room, kitchen/breakfast room, preparation kitchen, reception hall, library, 2 staff rooms/bedrooms, bathroom, shower room, gym, bar, utility room, guest cloakrooms, lift, 2 terraces, 2 balconies, double garage.

Approximately 686 sq m (7,384 sq ft)

BELGRAVIA SW1 Available furnished or unfurnished Guide price: £13,000 per week

Chester Square Beautifully presented six bedroom house on Chester Square Impressive townhouse carefully configured to create extensive reception space with a large drawing room overlooking Chester Square.

Master bedroom with en suite bathroom, 5 further bedrooms all with en suite bathrooms, reception room, dining room, kitchen/breakfast room, media room, study, library, 2 guest cloakrooms, utility room, wine cellar, vault, terrace, access to Chester Square Gardens. EPC rating C.

Approximately 410 sq m (4,413 sq ft)

BELGRAVIA SW1 Available furnished or unfurnished Guide price: £8,500 per week

NB All potential tenants should be advised that, as well as rent, administration fees will apply when renting a property. Please ask for details of our charges. +44 20 7881 7730 [email protected] KnightFrank.co.uk/belgravia 14 BELGRAVIA LETTINGS

Eaton Place Immaculate Belgravia penthouse Luxury lateral penthouse featuring the latest technology, direct lift access and private terrace.

Master bedroom with en suite bathroom and dressing room, a further double bedroom with en suite bathroom, reception room, dining room, kitchen, study, utility room, roof terrace, direct lift access. EPC rating E.

Approximately 193 sq m (2,077 sq ft)

Belgravia sw1 Available furnished Guide price: £3,250 per week

Eaton Terrace Outstanding spacious maisonette Exquisite two bedroom maisonette with large private terrace, central air conditioning, integrated audio system and underfloor heating.

Master bedroom with en suite bathroom and dressing room, a further double bedroom with en suite bathroom, reception room, kitchen, guest cloakroom, large private terrace. EPC rating E.

Approximately 142 sq m (1,528 sq ft)

Belgravia sw1 Available furnished Guide price: £1,650 per week BELGRAVIA LETTINGS 15

Eaton Place Eaton Square

Interior designed apartment with lift access. Newly developed flat with patio garden.

Master bedroom with en suite and dressing room, Master bedroom with en suite bathroom, reception room, 2nd bedroom with en suite, reception room, kitchen, kitchen, separate guest cloakroom, patio garden, lift, dining room, study, entrance hall, lift access, resident porter, access to Eaton Square communal gardens with caretaker. EPC rating C. tennis courts. EPC rating E.

Approximately 178 sq m (1,920 sq ft) Approximately 63 sq m (685 sq ft)

Belgravia sw1 Belgravia sw1 Available furnished Available furnished Guide price: £3,250 per week Guide price: £750 per week

Ebury Mews Eccleston Mews

Beautiful mews house with large reception room. Excellent mews house with conservatory.

Master bedroom with en suite, 2 further double bedrooms Master bedroom with en suite, 2 further double bedrooms, (1 with en suite), shower room, reception room with bathroom, reception room, kitchen, conservatory, study, dining area, kitchen, garage parking by separate negotiation. cloakroom, garden, on street mews parking. EPC rating D. EPC rating C. Approximately 112 sq m (1,205 sq ft) Approximately 129 sq m (1,395 sq ft)

Belgravia sw1 Belgravia sw1 Available unfurnished Available unfurnished Guide price: £1,650 per week Guide price: £1,350 per week

Warwick Square Grosvenor Crescent Pimlico SW1 Guide price: £3,250,000 Belgravia SW1 Guide price: £17,800,000

SOLD SOLD

Eaton Mews North Gayfere Street Belgravia SW1 Guide price: £4,500,000 Westminster SW1 Guide price: £2,900,000

SOLD SOLD

Montrose Place Eaton Place Belgravia SW1 Guide price: £3,950,000 Belgravia SW1 Guide price: £4,850,000

SOLD SOLD

+44 20 7881 7722 [email protected] KnightFrank.co.uk/belgravia BELGRAVIA – LET properties 17

Eaton Place Eaton Mansions Belgravia SW1 Guide price: £1,550 per week Belgravia SW1 Guide price: £4,150 per week

LET LET

Grosvenor Crescent Mews Eaton Square Belgravia SW1 Guide price: £2,400 per week Belgravia SW1 Guide price: £4,500 per week

LET LET

Grosvenor Garden Graham Terrace Mews North Belgravia SW1 Guide price: £3,000 per week Belgravia SW1 Guide price: £7,950 per week

LET LET

+44 20 7881 7730 [email protected] KnightFrank.co.uk/belgravia 18 AREA CHELSEA 19

CHELSEA AREAS COVERED SW3 SW5 SW10

Best known for: King’s Road, Sloane Square, Chelsea Arts Club, the Flower Show and Chelsea FC.

Borough: Royal Borough of Kensington and Chelsea

Area: Chelsea’s beautiful garden squares and sense of community make it popular with families and young professionals. The area is synonymous with art and fashion, having been the focal point of the swinging sixties, and residents benefit from an abundance of boutique shops, restaurants, bars and cafés.

Social and cultural attractions: Many people living here comment on how little they use their kitchens because the local cafés, gastropubs and restaurants are so good. Keen shoppers have the renowned King’s Road, while other places of interest include Chelsea Arts Club, the National Army Museum, The Physic Garden and The Royal Court Theatre.

Sports and leisure facilities: Nearby Battersea Park is a great spot for jogging, cycling, rowing, fishing and other pursuits, while Burton Court has a number of tennis courts and the path along the embankment provides the perfect place for a riverside stroll.

Our favourite places: The famous Beaufort House on the corner of the King’s Road and Beaufort Street, the renowned Pig’s Ear pub and Busaba Eathai Thai restaurant.

Getting around: Sloane Square, Earl’s Court, West Brompton, Gloucester Road West Brompton, Imperial Wharf 20 CHELSEA SALES

SALES OVERVIEW SALES BY NUMBERS

The market: There is consistent demand from both domestic and international buyers across the board. There is still a lack of supply and we are regularly seeing competitive bids. The strongest demand is for good family houses at all levels and apartments under £2m. 35% of our sales in the last Our outlook: It is likely that prices in the area will make small gains and the six months were priced number of transactions is increasing. This looks set to continue. under £1.5m

Who buys here: We deal with a broad selection of buyers from the expected European bankers, both as family house buyers and smaller flats in the early stages of their careers, as well as Russians, Chinese, and a good number of Every day Knight Frank Chelsea UK buyers. properties are viewed 587 times through our award-winning website

In the last 12 months alone, potential buyers from

Harley Gardens SW10 Our team in action: 160 This house was on the market for about a year with another agent. When different countries have viewed we were instructed one of our enquiries came from one of our tenants who properties for sale through Knight Frank Chelsea wanted to continue to deal with Knight Frank. They bought the house and used Knight Frank Finance to find the best deal on their mortgage. Both buyer and seller were delighted with the outcome.

SALES INSIGHT

We have seen a surge in demand for investment flats under £2m as buyers are increasingly looking for value. They will pay high prices if they can understand them and there is good comparable evidence to support them.

James Pace Head of Sales CHELSEA SALES 21

Henry Moore Court, Manresa RD Luxury living in the heart of Chelsea Set within beautiful landscaping on a well-known tree-lined street just off the King’s Chelsea SW3 Road, this is an elegant boutique development of exceptional two to four bedroom Leasehold approximately apartments, and two houses all with 24 hour security, concierge, secure underground 998 years remaining parking, private resident’s gym and beautifully crafted interiors. Guide price: From £5,650,000 - £15,000,000 Ranging from approximately 1,800 sq ft to 4,900 sq ft

Computer generated images for indicative purposes only

+44 20 7349 4300 [email protected] KnightFrank.co.uk/chelsea 22 CHELSEA SALES

Glebe Place Refurbished house with exceptional garden This incredible house has been completely remodelled by an internationally renowned designer Chelsea SW3 who has created a thoroughly modern interpretation of a traditional London townhouse. Freehold Guide price: £8,500,000 Master bedroom with dressing area and bathroom en suite, 3 further bedroom en suites, drawing room, kitchen/dining room, library, study area, entrance hall, utility room, cloakroom, conservatory, terrace, garden. EPC rating E.

Approximately 301 sq m (3,250 sq ft) CHELSEA SALES 23

The Little Boltons Modern townhouse in prime address A five bedroom family house in good order that boasts private parking and a patio garden. Chelsea sw10 Freehold Master bedroom with en suite shower room, 2 bedrooms with en suite bathrooms, Guide price: £4,850,000 2 further bedrooms, shower room, sitting room, drawing room, playroom, kitchen, cloakroom, garden, off street parking for 2 cars. EPC rating E.

Approximately 232 sq m (2,503 sq ft)

+44 20 7349 4300 [email protected] KnightFrank.co.uk/chelsea 24 CHELSEA LETTINGS

LETTINGS OVERVIEW LETTINGS BY NUMBERS

The market: The appetite for properties from prospective tenants continues to be high and landlords will be encouraged to see that the number of new applicants and applicant viewings is up year-on-year by 24% and 4.5% in turn. Additionally, the volume of new rental instructions has risen by 20% over the year to date.

Our outlook: The health of the wider economy continues to impact on rents and the Eurozone crisis reinforces pressure on growth. Confidence and affordability is likely to remain a central issue for tenants well into 2013. We forecast the sub £1,000 per week bracket is likely to perform exceptionally 37% strongly over the next 12 months with the best family houses also attracting of our properties coming strong levels of interest. to the market are between £2,000 and £3,000 per week Who rents here: Western Europe, North America, UK nationals and affluent French nationals make up the main body of our tenants. Collingham Gardens 38% of our tenants are in their 30s

Our team in action: 34% Having advised a client to comprehensively refurbish his large house of our tenancies are between £2,000 and £3,000 per week overlooking communal gardens and provided extensive direction during the works, we have now achieved three offers from high net worth families, at a significantly higher price level. Confident advice, delivering results.

LETTINGS INSIGHT

My typical renter is often an upwardly mobile high net worth family or individual, very often with more than one fixed abode globally. Complete market knowledge, speed and attention to detail are key factors in gaining our clients complete trust.

David Mumby Head of Lettings CHELSEA LETTINGS 25

Hollywood Road Stylish four bedroom family house

The impressive proportions offer a variety of living arrangements and every Chelsea sw10 room is filled with natural daylight. There are many original and bespoke features Available furnished or unfurnished culminating in a modern, incredibly stylish family home. Guide price: £2,650 per week

Master bedroom with en suite bathroom, 3 further double bedrooms, 2 further single bedrooms/studies, 2 further bathrooms, WC, double reception room, kitchen/dining room, utility room, wine cellar, large well-planted patio garden. EPC rating E.

Approximately 270 sq m (2,906 sq ft)

NB All potential tenants should be advised that, as well as rent, administration fees will apply when renting a property. Please ask for details of our charges. +44 20 7349 4300 [email protected] KnightFrank.co.uk/chelsea 26 CHELSEA LETTINGS

Drayton Gardens Stunning flat with private west-facing patio

This two/three bedroom flat offers bright and inviting living space which has CHELSEA SW10 been refurbished to the very highest of standards with contemporary fittings Available furnished and retaining many stunning period features. Guide price: £1,295 per week

2/3 bedrooms, 2 bathrooms, kitchen, reception room, patio. EPC rating D.

Approximately 107 sq m (1,152 sq ft) CHELSEA LETTINGS 27

King’s Road Exceptional two bedroom flat with porter

This extremely spacious flat is in a secure gated development and has access to C helsea SW10 communal gardens and an underground car parking space. Available furnished Guide price: £1,250 per week Master bedroom with en suite bathroom, further double bedroom, shower room, open plan kitchen/reception room, porter, communal gardens, parking, gym, swimming pool and tennis court. EPC rating C.

Approximately 101 sq m (1,083 sq ft)

Elm Park Road LAMONT ROAD Chelsea SW3 Guide price: £5,950,000 Chelsea SW10 Guide price: £3,650,000

SOLD SOLD

Beaufort Street Tregunter Road Chelsea SW3 Guide price: £850,000 Chelsea SW10 Guide price: £1,450,000

SOLD SOLD

Old Church Street Drayton Gardens Chelsea SW3 Guide price: £2,850,000 Chelsea SW10 Guide price: £6,225,000

SOLD SOLD

+44 20 7349 4300 [email protected] KnightFrank.co.uk/chelsea CHELSEA – LET properties 29

Paultons Square Lamont Road CHELSEA SW3 Guide price: £3,950 per week CHELSEA SW10 Guide price: £2,595 per week

LET LET

King’s Road Gertrude Street Chelsea sw10 Guide price: £1,300 per week Chelsea sw10 Guide price: £650 per week

LET LET

Redcliffe Square Glebe Place Chelsea sw10 Guide price: £950 per week Chelsea sw3 Guide price: £900 per week

LET LET

+44 20 7349 4300 [email protected] KnightFrank.co.uk/chelsea 30 AREA KENSINGTON 31

KENSINGTON AREAS COVERED W8 W11 W14

Best known for: Holland Park, Hyde Park and Kensington Palace, with its latest residents being the Duke and Duchess of Cambridge.

Borough: The Royal Borough of Kensington and Chelsea

Area: Kensington strikes a pleasing balance of the old and new with its historic buildings and serene residential squares alongside the bustling High Street Kensington. So fashionable is the area that the luxury brand Mulberry now has its headquarters here.

Social and cultural attractions: Kensington Palace, the Round Pond and The Princess Diana Memorial Playground are all popular with visitors, as is the iconic Barkers Building, now home to Whole Foods. In the summer, Holland Park hosts a season of outdoor operas. For evening entertainment, Kensington has numerous pubs, bars and restaurants, including the world-famous Kensington Roof Gardens.

Sports and leisure facilities: Holland Park, Kensington Gardens and Hyde Park are all in walking distance and are great spots for summer picnics as well as recreational activities such as running, cycling, boating and horse riding.

Our favourite places: The Churchill Arms, a homely pub and Thai restaurant; The Windsor Castle, an infamous pub with a large beer garden; and Kensington Roof Gardens, London’s only rooftop private members’ club.

Getting around: High Street Kensington, Notting Hill Gate, Holland Park Avenue

Fountain Image: Royal Parks Foundation/Charlotte Fielding 32 KENSINGTON SALES

SALES OVERVIEW SALES BY NUMBERS

The market: We are looking at houses and flats ranging between £500,000 to £100,000,000.

Our outlook: We anticipate that the local market in Kensington will be buoyant throughout 2013. There is now clarity regarding taxation and costs. The signs are positive and many buyers who put off buying last year are reappearing. 74% of buyers registered with the Who buys here: A wide variety of nationalities are attracted to Kensington. Kensington office want to There are many UK and European families living locally taking advantage of the spend under £5m schools and parks, as well those from further afield buying houses and flats and their London base whilst in the country. 65% of Sales in W8 by Knight Frank Kensington were below £3.5m

Everyday Knight Frank Kensington properties are viewed

Phillimore Terrace W8 Our team in action: 1,668 We have recently sold a four bedroom unmodernised family house for 10% times through our award-winning website above the guide price. With 29 viewings in two weeks, we had multiple offers. Interested parties were asked for their best and final offers and contracts were exchanged within two weeks.

SALES INSIGHT

My concern for the market is that owners’ expectation levels remain high, which then leads estate agents to provide over-valued stock, which does not sell until months later when there is the inevitable price reduction.

Mark Redfern Head of Sales KENSINGTON SALES 33

Academy Gardens Contemporary luxury living An impressive interior designed, three bedroom apartment situated within one of Kensington’s most prestigious developments.

This superb apartment offers a 24 hour concierge/security service, gym and swimming pool, valent parking to a dedicated underground space.

3 bedrooms, 3 bathrooms, 2 reception rooms, kitchen/breakfast room, dining room, study, dressing room. EPC rating C.

Approximately 260 sq m (2,805 sq ft)

Kensington w8 Share of freehold Asking price: £6,995,000

Edwardes Square A gem with views over and access to the finest garden square in W8 A rare opportunity to acquire a very special house. This beautiful Grade II terraced property is situated on the east side of Edwardes Square with an open aspect to the front and views over the garden square.

The owner of the house enjoys access to Edwardes Square, which is arguably the finest garden square in Central London. It is beautifully maintained. The residents have the additional benefit of a grass tennis court within the Square.

4 bedrooms, 4 bathrooms, drawing room, kitchen/breakfast room, dining room, sitting room/study, sitting room, private garden, access to communal gardens.

Approximately 230 sq m (2,478 sq ft) Kensington w8 Freehold Guide price: £5,500,000

+44 20 7938 4311 [email protected] KnightFrank.co.uk/kensington 34 KENSINGTON SALES

Kensington Place Pretty period family house Located in the popular ‘Hillgate Village’ area of Kensington, this bright, attractive three bedroom period house offers excellent family accommodation and is in the desirable catchment area for Fox Primary School.

It is presented in good order and would make a lovely family home. It is located halfway along Kensington Place in perhaps one of the most enviable and quiet positions on the street.

3 bedrooms, 2 bathrooms, double reception room, kitchen/dining room, study, roof terrace, garden. EPC rating E.

Approximately 141 sq m (1,519 sq ft)

Kensington W8 Freehold Asking price: £2,650,000

Iverna Court A charming two bedroom apartment A well-presented two bedroom apartment with excellent entertaining space, located on the fifth floor (with lift) of this well maintained and highly regarded mansion block, situated in the heart of Kensington.

The apartment features a double reception room, a separate kitchen and a master bedroom with en suite bathroom. There is one further bedroom and a family bathroom and the apartment benefits from porterage.

2 bedrooms, 2 bathrooms, reception room, kitchen, dining area, balcony, lift. EPC rating E.

Approximately 112 sq m (1,215 sq ft)

Kensington w8 Share of freehold Asking price: £1,850,000 KENSINGTON SALES 35

Lexham Gardens Fantastic and bright duplex apartment A very well-presented first and second floor duplex, boasting very high ceilings on the first floor and benefiting from three beautiful terraces.

Located on the south side of Lexham Gardens, the flat has two south facing terraces to the rear, one on each floor, as well as a terrace to the front leading off from the study which has been cleverly integrated into the area under the stairs.

2 bedrooms, 2 bathrooms, 2 reception rooms, kitchen, study area, 3 terraces. EPC rating D.

Approximately 135 sq m (1,460 sq ft)

Kensington w8 Share of freehold Asking price: £2,250,000

Radley Mews Beautiful mews house A pretty three bedroom mews house ideally located in this quiet cobbled mews in the heart of Kensington, benefiting from a lovely terrace and a garage.

This beautiful mews house has excellent living and entertaining accommodation over three floors. Radley Mews is ideally situated just off the Stratford Road in the sought-after Stratford Village.

3 bedrooms, 3 bathrooms, reception room, kitchen, terrace, garage. EPC rating D.

Approximately 110 sq m (1,200 sq ft)

Kensington w8 Freehold Asking price: £1,695,000

+44 20 7938 4311 [email protected] KnightFrank.co.uk/kensington 36 KENSINGTON LETTINGS

LETTINGS OVERVIEW LETTINGS BY NUMBERS

The market: It has been active in the first quarter of this year with a distinct increase in activity within the houses sector and larger lateral flats. Kensington has seemed to buck the trend of the downward growth of the lettings market and is still seeing a small percentage increase of values.

Our outlook: We are still cautious of the effects that the City job market has on the activity levels we are seeing; however, the demand continues to outweigh 62% the supply of stock in the higher end of the market, which shows a positive step of our tenancies in the past for Kensington with a return of the high value market. 12 months have been for properties priced under £1,000 a week Who rents here: International students, families and professionals relocating for work or study opportunities.

Since January Campden Grove, W8 25% of our tenancies have been at £2,000 per week and above

Our team in action: A house on one of the most popular streets in Kensington had sat on 85% the market for some time and was in need of refurbishment. After nearly of our tenants are international a year on the market we finally persuaded the landlord to invest in refurbishing the property and within the final stages of the building work a tenant was found.

LETTINGS INSIGHT

The most exciting emerging hotspot is Stratford Village for its collection of small studio style apartments to large family houses and the benefit of its quaint village feel.

Tacita Rolls Head of Lettings KENSINGTON LETTINGS 37

Ansdell Terrace Stunning house in quiet location This superb house is situated in a quiet cul de sac located just south of Kensington High Street. The house features a beautiful state-of-the-art kitchen leading on to an open plan dining area, as well as two well-presented reception rooms. The house further boasts five well-sized bedrooms and two walk-in wardrobes with excellent storage space and a lovely roof terrace.

5 bedrooms, 4 bathrooms, 2 reception rooms, eat-in kitchen, dining room, roof terrace. EPC rating D.

Approximately 277 sq m (2,982 sq ft)

Kensington w8 Available unfurnished Guide price: £4,250 per week

Walnut Court Beautifully presented penthouse An immaculate three bedroom penthouse situated in the heart of Kensington inside a private gated estate on Kensington Green. The flat is spacious and has wooden floors throughout, as well as floor-to-ceiling windows which give the rooms an abundance of natural light. All bathrooms have been refurbished to a very high standard, as has the kitchen. The bedrooms are all spacious with plenty of natural light, ample storage, and sensational views over Kensington.

3 bedrooms, 3 bathrooms, reception room, kitchen, balcony, porter, underground parking space, 7th floor with lift. EPC rating C.

Approximately 141 sq m (1,520 sq ft)

Kensington w8 Available unfurnished Guide price: £2,750 per week

NB All potential tenants should be advised that, as well as rent, administration fees will apply when renting a property. Please ask for details of our charges. +44 20 7937 8203 [email protected] KnightFrank.co.uk/kensington 38 KENSINGTON LETTINGS

Campden Grove Spacious family home A beautiful six bedroom maisonette on the first floor of this popular red brick mansion block close to Holland Park. The flat boasts a modern kitchen and well-presented reception room, master bedroom with en suite bathroom, four further double bedrooms, a study/bedroom and family bathroom. The property further benefits from access to a private roof terrace allowing for extensive views across London.

6 bedrooms, 4 bathrooms, reception room, kitchen, study, terrace. EPC rating D.

Approximately 207 sq m (2,238 sq ft)

Kensington w8 Available furnished or unfurnished Guide price: £2,500 per week

Palace Gardens Brilliant location A bright two bedroom apartment on Palace Gardens Terrace, a desirable street in the heart of Kensington. Situated within walking distance of both High Street Kensington and Notting Hill Gate underground stations, on the second and third floor of a stucco-fronted building. The property has been refurbished throughout and boasts a good-sized master bedroom with en suite.

2 bedrooms, en suite bathroom, shower room, reception room, kitchen, 2nd and 3rd floor. EPC rating C.

Approximately 81 sq m (874 sq ft)

Kensington w8 Available furnished Guide price: £850 per week KENSINGTON LETTINGS 39

Oakwood Court Well-presented two bedroom flat close to Holland Park A beautiful two bedroom flat positioned on the first floor of this popular red brick mansion block close to Holland Park. The flat boasts a modern kitchen and well-presented reception room, master bedroom with en suite bathroom, further double bedroom and family bathroom. The property further benefits from access to the communal gardens and heating and hot water are included in the rental price.

2 bedrooms, 2 bathrooms, reception room, kitchen, communal gardens. EPC rating C.

Approximately 107 sq m (1,151 sq ft)

Kensington w8 Available unfurnished Guide price: £865 per week

Bullingham Mansions Bright apartment, newly refurbished A beautifully presented and recently refurbished two bedroom apartment to rent in this sought-after and exceptionally quiet, gated development with resident porter in prime Kensington W8. The apartment is situated on the raised ground floor of one of the quietest buildings, furthest from the street.

2 bedrooms, 2 bathrooms, reception room, kitchen, walk in wardrobe. EPC rating D.

Approximately 84 sq m (907 sq ft)

Kensington w8 Available furnished Guide price: £850 per week

Vicarage Gate Zetland House Kensington W8 Asking price: £895,000 Kensington W8 Asking price: £3,250,000

SOLD SOLD

Bullingham Mansions Kensington Church Walk Kensington W8 Asking price: £1,500,000 Kensington W8 Asking price: £2,350,000

SOLD SOLD

Scarsdale Villas Adam and Eve Mews Kensington W8 Asking price: £4,750,000 Kensington W8 Guide price: £3,950,000

SOLD SOLD

+44 20 7938 4311 [email protected] KnightFrank.co.uk/kensington KENSINGTON – LET properties 41

Abingdon Mansions York House Kensington W8 Guide price: £845 per week Kensington W8 Guide price: £3,250 per week

LET LET

Creston House Palace Garden Mews Kensington W8 Guide price: £1,100 per week Kensington W8 Guide price: £2,250 per week

LET LET

Kensington Gate Bedford Gardens Kensington W8 Guide price: £4,500 per week Kensington W8 Guide price: £2,500 per week

LET LET

+44 20 7937 8203 [email protected] KnightFrank.co.uk/kensington

KNIGHTSBRIDGE 43

KNIGHTSBRIDGE AREAS COVERED SW1 SW7 SW3

Best known for: The luxury brand shops and boutiques on Sloane Street including Chanel, Dior, Prada, Hermes together with local department stores Harrods and Harvey Nichols, museums, and the development One Hyde Park.

Boroughs: Royal Borough of Kensington and Chelsea, City of Westminster

Area: Home to some of the world’s most prestigious venues, shops, hotels and restaurants, Knightsbridge sits to the west of Sloane Street and south of Hyde Park. The area is characterised by beautiful garden squares as well as its red brick mansion blocks and white stucco-fronted houses and apartments. Examples of this wonderful architecture can be found on Pelham Crescent, Egerton Crescent, Cadogan Place, Cadogan Square, Alexander Square and Lennox Gardens.

Social and cultural attractions: Knightsbridge benefits from having some exceptional hotels such as The Jumeirah Carlton Tower, Sheraton Park Tower, and The Mandarin Oriental, which is home to the world-renowned restaurant Dinner by Heston Blumenthal. Also nearby is the V&A, Natural History Museum, Science Museum, Royal Albert Hall, Brompton Oratory, The Saatchi Gallery and Cadogan Hall.

Sports and leisure facilities: Kensington Gardens and Hyde Park, London’s largest royal park, are within walking distance and offers everything from boating to tennis courts, The Serpentine Gallery and hosts music concerts such as Proms in The Park. Also found in Knightsbridge are some of the best gymnasiums including KX gym, The Peak and The Berkeley.

Our favourite places: Zafferano, a Michelin-starred Italian restaurant; Zuma, for contemporary Japanese cuisine; Scalini for authentic Italian; Amaya for Indian fusion; and Bibendum for classic French cuisine.

Getting around: Knightsbridge, Sloane Square, South Kensington 44 KNIGHTSBRIDGE SALES

SALES OVERVIEW SALES BY NUMBERS

The market: Knightsbridge remains the high-profile focus for global buyers We have looking for everything from a pied-à-terre to substantial family houses. The market is robust and confident, under pinned by the current weakness of sterling, making buying all the more compelling.

Our outlook: Knightsbridge will see a strong year, tight supply meeting 423 continued global interest as prospective buyers continue to see prime central potential buyers on our London as a defensive asset class, particularly in the light of recent events in books looking to spend a collective total of £6.21bn Cyprus and uncertainty in the Middle East.

Who buys here: Knight Frank sold properties to over 60 nationalities in 2012. International buyers have spent £111.7m through us in the past six months

In the last six months alone, potential buyers from

Onslow Square SW7 162 Our team in action: different countries have The Knightsbridge team consistently prove to be a trusted advisor to our viewed properties for sale clients. Our recent sales in Onslow Square, Cadogan Square and Beaufort through Knight Frank Gardens provide an example of how our good relationships achieve record prices and exceed client expectations.

SALES INSIGHT

Brompton Cross is seeing a revolution as more and more luxury goods stores arrive at or close to the junction of Sloane Avenue and Brompton Road, most recently Carolina Herrera, which is seeing a significant increase in requests for pieds-à-terre close to this corner of Knightsbridge.

Rupert des Forges Head of Sales KNIGHTSBRIDGE SALES 45

Parkside Immaculate three bedroom Knightsbridge penthouse

An exquisite penthouse apartment situated on the eighth floor of a Knightsbridge SW1 24 hour portered building in the heart of Knightsbridge with panoramic Share of freehold views over Hyde Park. Guide price: £9,750,000

Master bedroom suite with dressing room, 2 further bedroom suites, reception/dining room, kitchen/breakfast room, lift, porter, air conditioning. EPC rating D.

Approximately 228 sq m (2,459 sq ft)

+44 20 7591 8600 [email protected] KnightFrank.co.uk/knightsbridge 46 KNIGHTSBRIDGE SALES

Pelham Place Four bedroom, Grade II listed house Pelham Place is a beautifully presented, Grade II listed house on the borders of Knightsbridge SW7 Knightsbridge and South Kensington and is one of the most attractive streets in this exclusive area. Freehold Guide price: £9,750,000 Master bedroom suite with dressing room, 3 further bedrooms (1 en suite), drawing room, dining room, kitchen/breakfast room, study, front and rear gardens, 2 cloakrooms.

Approximately 263 sq m (2,830 sq ft) KNIGHTSBRIDGE SALES 47

Alexander Square Superb Knightsbridge house A beautifully presented family house in this exclusive private road in Knightsbridge. Knightsbridge sw3 Freehold Master bedroom suite, 3 further bedrooms, 3 further bathrooms, kitchen/breakfast room, Guide price: £11,950,000 3 reception rooms, staff suite including reception room, bedroom, shower room, kitchenette and utility room, 2 cloakrooms, 1st floor balconies, rear garden. EPC rating D.

Approximately 402 sq m (4,335 sq ft)

+44 20 7591 8600 [email protected] KnightFrank.co.uk/knightsbridge 48 KNIGHTSBRIDGE LETTINGS

LETTINGS OVERVIEW LETTINGS BY NUMBERS

The market: There has been a noticeable upturn in the lettings market in terms of volume, with 14% more tenancies agreed in 2013 so far compared to the same period in 2012. At this time of year the family house market starts to become active. This year due to stock moving over from the lettings market to the sales market, there is a shortage of family houses.

Our outlook: Our view is that rental growth will be positive moving into 2013, with an improving outlook for employment and increasing business sentiment in London, especially in the technology and media sectors, providing a boost to the activity in the lettings market. 70% Who rents here: The lettings market in Knightsbridge is truly international, of our tenants are as well as many British tenants. Tenants usually come from the corporate sector from overseas alongside high-net-worth individuals. 53% of our enquiries originate from the web

Walton Street SW3 Our team in action: We were instructed via an introduction through our Client Services department to let a house in Flood Street where the landlord had been let down at the last minute by a tenant introduced via another agent. Finding a 20% suitable tenant had been tricky as there were major works at the back of the of our enquiries are over £2,500 per week house. We quickly found a suitable tenant for the house and the landlord was so pleased with the service we were promptly instructed to let a second house in Walton Street.

LETTINGS INSIGHT

The worst mistake a landlord can make is to not make sure a property is presented in good, fresh decorative order as this can put tenants off.

Juliet Hill Head of Lettings KNIGHTSBRIDGE LETTINGS 49

Rutland Gardens An impressive family home

A newly refurbished house quietly located in a private gated road, in the heart of Knightsbridge SW7 Knightsbridge. Offering spacious living and accommodation, the property has been Available furnished designed to the highest standards. Guide price: £15,000 per week

5 bedrooms, 5 bathrooms, 3 reception rooms, kitchen, dining room, swimming pool, gym, patio, garden. EPC rating D.

Approximately 477 sq m (4,599 sq ft)

NB All potential tenants should be advised that, as well as rent, administration fees will apply when renting a property. Please ask for details of our charges. +44 20 7591 8601 [email protected] KnightFrank.co.uk/knightsbridge 50 KNIGHTSBRIDGE LETTINGS

Trevor Street An immaculately presented family house An immaculately presented family house, perfectly located in the heart of Knightsbridge sw7 Knightsbridge, close to the many exclusive shops and restaurants in the area, Available unfurnished including Harrods and a short walk to Knightsbridge underground station Guide price: £2,250 per week (Piccadilly line) and the wide open spaces of Hyde Park.

4 bedrooms, 3 bathrooms, reception room, kitchen, dining room, garden. EPC rating D.

Approximately 199 sq m (2,139 sq ft) KNIGHTSBRIDGE LETTINGS 51

Sloane Avenue Newly refurbished second floor flat near King’s Road Newly refurbished second floor flat close to King’s Road. The flat is east/west-facing with large windows and lots of light and space. Located very close to the King’s Road with its shops and restaurants and easy walking to Sloane Street with its designer shops.

Bedroom, bathroom, large reception room, kitchen. EPC rating D.

Approximately 64 sq m (689 sq ft)

Knightsbridge sw3 Available furnished Guide price: £1,800 per week

Cadogan Gardens Newly refurbished first floor flat near Sloane Square Newly refurbished first floor flat, located within the popular Cadogan Gardens. The flat has a lovely double reception room with floor to ceiling windows and bespoke walnut carpentry leading onto a balcony, perfect for entertaining.

3 bedrooms, 2 bathrooms, large reception room, bespoke kitchen, access to square gardens. EPC rating D.

Approximately 122 sq m (1,315 sq ft)

Knightsbridge SW3 Available unfurnished Guide price: £1,800 per week

Pont Street Walton Place Knightsbridge SW1 Guide price: £4,350,000 Knightsbridge SW7 Guide price: £7,500,000

SOLD SOLD

Paradise Walk Knightsbridge Chelsea SW3 Guide price: £1,725,000 Knightsbridge SW7 Guide price: £7,450,000

SOLD SOLD

Egerton Gardens Cadogan Gardens Knightsbridge SW3 Guide price: £1,450,000 Knightsbridge SW3 Guide price: £8,500,000

SOLD SOLD

+44 20 7591 8600 [email protected] KnightFrank.co.uk/knightsbridge KNIGHTSBRIDGE – LET properties 53

Walpole Street Pelham Court CHELSEA SW3 Guide price: £3,900 per week Chelsea SW3 Guide price: £850 per week

LET LET

Walton Street The Knightsbridge Knightsbridge SW7 Guide price: £3,250 per week Knightsbridge SW7 Guide price: £9,500 per week

LET LET

Cadogan Gardens Milner Street Knightsbridge SW3 Guide price: £9,500 per week Knightsbridge SW7 Guide price: £2,750 per week

LET LET

+44 20 7591 8601 [email protected] KnightFrank.co.uk/knightsbridge

NOTTING HILL 55

NOTTING HILL AREAS COVERED W11 W10 W2

Best known for: Its diversity, the Notting Hill Carnival (Europe’s largest street party), Portobello Road market (a mecca for bargain hunters), its bohemian vibe and charm and, of course, the iconic movie Notting Hill (starring Hugh Grant and Julia Roberts).

Boroughs: Royal Borough of Kensington and Chelsea, City of Westminster

Area: Notting Hill is a wonderful balance of peace and tranquility combined with the buzz and excitement of the City. Residents are attracted to the ‘bohemian-meets-cool’ atmosphere and the diverse mix of people and places, from the magical and idyllic garden squares, to the boutiques and café culture of Westbourne Grove and the hustle and bustle of Portobello Road and Notting Hill Gate.

Social and cultural attractions: Notting Hill is home to Europe’s largest street party – the Notting Hill Carnival. The huge range of bars, gastropubs and award-winning restaurants means you can experience excellent food and drink from all corners of the globe. The Electric Cinema and the Coronet show the latest blockbusters, while The Gate Picturehouse caters for those looking for something a little more art-house. Other attractions include The Museum of Brands Packaging and Advertising and The 20th Century Theatre.

Sports and leisure facilities: As well as having many beautiful communal gardens, Notting Hill is close to the wide open spaces of Hyde Park, Kensington Gardens and Holland Park. Holland Park is renowned for its Kyoto Garden, sports facilities and picturesque walk to Kensington High Street. There are also a number of cycling routes, sports clubs, yoga and pilates centres.

Our favourite places: The Ledbury, a restaurant with two Michelin stars; The Oak, for wood-fired pizzas; Granger & Co, courtesy of Australian celebrity chef Bill Granger; E&O, for pan-Asian cuisine and inventive cocktails; The Rum Kitchen, a Caribbean style beach shack; Hummingbird Bakery, for exquisite cupcakes; Assaggi, for wonderful Italian dining tucked away on a cobbled mews; Julie’s, regarded as the ‘rock chic’ restaurant of the world; Dock Kitchen in W10, a waterside restaurant; Jamie Oliver’s new venture Recipease; and for arguably the best coffee ‘in town’ go to The Grocer on Elgin Crescent and seek out Samir.

Getting around: Notting Hill Gate, Holland Park, Ladbroke Grove, Westbourne Park, Latimer Road, Royal Oak Paddington 56 NOTTING HILL SALES

SALES OVERVIEW SALES BY NUMBERS

The market: We have now entered a perfect and uninterrupted selling window On average we have achieved following the much-needed clarity after the Chancellor’s Autumn Statement in December. This certainty has now encouraged buyers, who were previously sitting on the fence, to return to the market, proving that the market in Notting Hill still remains robust and resilient. 102% Our outlook: The market is currently fuelled by a strong and pent-up demand of the guide price on sales in across all sectors. A lack of first-class stock is keeping prices at a competitive the past 12 months level. In addition to which the ‘currency play’, due to the fall in the value of sterling, has increased the appetite for property in Notting Hill from overseas buyers, especially those located in the troubled Eurozone. We envisage a very active spring/early summer market. We have

Who buys here: Notting Hill still attracts a multitude of different nationalities, and, as mentioned above, we are experiencing demand from a wide spectrum. 352 Chepstow Villas potential buyers on our books looking to spend a collective total of £2.19bn

Knight Frank Notting Hill properties are viewed

Our team in action: Our client purchased this apartment through us back in 2010. In 2012 449 we quietly introduced it to the market by showing our top 10 buyers, times a day through our 14 days later it went under offer. Our client was then referred to Knight Frank award-winning website Finance and is now looking to buy through our New York residential Partners Douglas Elliman.

SALES INSIGHT

We have seen a surge in demand for communal gardens, family houses and are also experiencing an increased demand from families wanting to downsize and an increase in demand for ‘turnkey’ lateral apartments in good buildings. Lateral space in Notting Hill is rare and commands a premium.

Caroline Foord Head of Sales Norland Square Garden square family house

A truly wonderful Grade II listed house situated on the north side of this popular square. Holland Park W11 The house has a great feeling of light and space, of note is the first floor drawing room Freehold with views over the garden square. Guide price: £7,500,000

Master bedroom suite, 5 further bedrooms, 3 bathrooms, double reception room, kitchen/breakfast room, dining room, family room, guest cloakroom, utility room, wine cellar, garden.

Approximately 343 sq m (3,700 sq ft)

+44 20 7229 0229 [email protected] KnightFrank.co.uk/notting-hill 58 NOTTING HILL SALES

Hayden’s Place Wonderful lateral space This wonderful low-built house, which is predominantly laid out over two floors Notting Hill w11 offering rare lateral space. Set in a magical position with an abundance of natural Share of freehold light in a gated development just off Portobello Road. Guide price £6,000,000

Master bedroom suite with dressing room, 3 further bedroom suites, 2 reception rooms, guest cloakroom, gym, utility room, private parking. EPC rating C.

Approximately 395 sq m (4,254 sq ft) NOTTING HILL SALES 59 Highlever Road Corner house with garden A rare opportunity to acquire a beautifully refurbished family home benefiting from impressive light and located on this pretty tree lined street in North Kensington.

Master bedroom suite, 3 further bedrooms, 2 bathrooms, reception room, kitchen/breakfast room, garden, guest cloakroom. EPC rating D.

Approximately 186 sq m (2,000 sq ft)

North Kensington w10 Freehold Guide price £2,000,000

Chepstow Villas Spacious apartment A rare opportunity to acquire a beautifully decorated, light and well-proportioned one bedroom flat with a stunning roof terrace set in arguably one of the most desirable locations in Notting Hill.

Bedroom, bathroom, open plan kitchen and reception room, roof terrace, balcony. EPC rating D.

Approximately 69 sq m (745 sq ft)

Notting Hill W11 Share of freehold Guide price £975,000

+44 20 7229 0229 [email protected] KnightFrank.co.uk/notting-hill 60 NOTTING HILL LETTINGS

LETTINGS OVERVIEW LETTINGS BY NUMBERS

The market: The Queen’s Jubilee and the Olympics put London in the spotlight in 2012 and activity was good across the market, however, towards the end of the year the rental prices dropped marginally. 2013 started well but softened over the Easter period.

Our outlook: One and two bedroom flats are always in demand at this time of year and as we approach the summer, the family house market will come into its own. High stock levels put the market in a strong position for the 66% coming months. of our tenancies agreed in the last 12 months have been Who rents here: Notting Hill attracts an eclectic mix of young professionals, international tenants families and those who have retired. 48% of our applicants are looking to spend between £500–£1,000 per week

Ladbroke Gardens W11 Our team in action: 35% We were instructed on a sole agency basis to let this newly refurbished of our new instructions in the maisonette. Within a couple of weeks, we moved in a lovely family. The client past 12 months have been above £1,000 per week was delighted so she recommended her daughter to use us, as her flat was on the market with another agent and hadn’t been let. Within three weeks we found her a tenant.

LETTINGS INSIGHT

We have seen a surge in demand for one and two bedrooms; however, it is at this time of the year that the demand for houses increases as families relocate to London.

Sophie Woolfenden Head of Lettings NOTTING HILL LETTINGS 61

Artesian Road Family house with off street parking

A fantastic architect designed five bedroom end-of-terrace period house with an Notting Hill w2 open view down Sunderland Terrace. This family house also boasts a south-facing Available unfurnished landscaped garden. Guide price: £2,750 per week

5 double bedrooms, 3 bathrooms, 2 reception rooms, kitchen, dining room, study, garden, terrace, off street parking. EPC rating D.

Approximately 217 sq m (2,336 sq ft)

NB All potential tenants should be advised that, as well as rent, administration fees will apply when renting a property. Please ask for details of our charges. +44 20 7985 9990 [email protected] KnightFrank.co.uk/notting-hill 62 NOTTING HILL LETTINGS

Havilland Mews Lansdowne Crescent

This fantastic one bedroom mews house with a This family house is in immaculate condition and benefits contemporary design offers excellent living space. from an abundance of natural light to all floors.

Bedroom, bathroom, reception room, kitchen/breakfast 3/4 bedrooms, 2 bathrooms, reception room, kitchen, room, storage, parking. EPC rating B. dining room, patio, off street parking. EPC rating D.

Approximately 81.6 sq m (878 sq ft) Approximately 190 sq m (2,055 sq ft)

Shepherds Bush W12 NOTTING HILL W11 Available furnished Available furnished or unfurnished Guide price: £485 per week Guide price: £2,300 per week

Moorhouse Road Pembridge SqUARE

An immaculate one bedroom flat on the second floor A stylish second floor flat close to Notting Hill Gate and the of this period building on a quiet tree-lined street in the local amenities. Artesian Village. Double bedroom, bathroom, reception room, kitchen, Bedroom, bathroom, reception room, open plan kitchen. access to communal gardens. EPC rating D. EPC rating D. Approximately 62 sq m (666 sq ft) Approximately 37 sq m (400 sq ft)

NOTTING HILL W2 NOTTING HILL W2 Available unfurnished Available furnished Guide price: £425 per week Guide price: £595 per week NOTTING HILL LETTINGS 63

Lansdowne Crescent Aldridge Road Villas Blenheim Crescent

A newly refurbished two bedroom flat on the ground floor This first floor flat is ideally located and benefits from of a period terrace building. Only a few minutes walk from wooden floors throughout. Westbourne Park tube station. Bedroom, bathroom, reception room, open plan kitchen. 2 double bedrooms, bathroom, reception room, kitchen. EPC rating C. EPC rating D. Approximately 43 sq m (463 sq ft) Approximately 59 sq m (629 sq ft)

NOTTING HILL W11 NOTTING HILL W11 Available furnished Available furnished Guide price: £695 per week Guide price: £460 per week

Chepstow Villas Denbigh Terrace

A stunning refurbished second floor flat situated in one A modern house close to Portobello Road and of Notting Hill’s prime streets. Westbourne Grove.

Double bedroom, study/2nd bedroom, kitchen, bathroom 3 bedrooms, 2 bathrooms, reception room, with separate shower, reception room. EPC rating C. study/sitting room, eat-in kitchen, garden. EPC rating E.

Approximately 70 sq m (760 sq ft) Approximately 162 sq m (1,746 sq ft)

NOTTING HILL W11 NOTTING HILL W11 Available furnished or unfurnished Available furnished or unfurnished Guide price: £825 per week Guide price: £2,000 per week

Horbury Crescent Chepstow Villas Notting Hill W11 Guide price: £775,000 Notting Hill W11 Guide price: £1,375,000

SOLD SOLD

Ladbroke Gardens St. James’s Gardens Notting Hill W11 Guide price: £1,500,000 Holland Park W11 Guide price: £4,750,000

SOLD SOLD

Addison Avenue Westbourne Grove Holland Park W11 Guide price: £5,750,000 Notting Hill W11 Guide price: £7,950,000

SOLD SOLD

+44 20 7229 0229 [email protected] KnightFrank.co.uk/notting-hill NOTTING HILL – LET properties 65

McGregor Road Ladbroke Grove Notting Hill W11 Guide price: £465 per week Notting Hill W2 Guide price: £875 per week

LET LET

Queens Mews Westbourne Grove Notting Hill W2 Guide price: £1,100 per week Notting Hill W11 Guide price: £1,200 per week

LET LET

Norland Square Pembridge Place Notting Hill W11 Guide price: £1,300 per week Notting Hill W2 Guide price: £1,500 per week

LET LET

+44 20 7985 9990 [email protected] KnightFrank.co.uk/notting-hill 66 AREA south kensington 67

SOUTH KENSINGTON AREAS COVERED SW7 SW5

Best known for: Museums, Royal Albert Hall, Imperial College, Royal Academy of Music, the Lycée school and Hyde Park.

Borough: Royal Borough of Kensington and Chelsea

Area: South Kensington is London’s museum heartland and attracts over 11 million visitors every year. Exhibition Road, at the heart of the area, recently benefited from significant refurbishment. The area has a distinct Parisian vibe and the renowned local French school, Lycée Francais Charles de Gaulle de Londres, is a big pull for many French residents.

Social and cultural attractions: Numerous venues include the Natural History Museum, Science Museum, Victoria and Albert Museum, Royal Albert Hall, National Geographic Society and Royal Academy of Music.

Sports and leisure facilities: Residents of South Kensington benefit from proximity to Hyde Park – home to the Serpentine Lake with its outdoor swimming club and boating activities, a tennis club, gardens and open spaces. The park also hosts a number of events throughout the year from Winter Wonderland to open-air concerts in the summer.

Our favourite places: The Hummingbird Bakery, a renowned cake shop on the Old Brompton Road, Carluccio’s, Ricardo’s, Queens Arms, Anglesea Arms.

Getting around: South Kensington, Gloucester Road, Sloane Square, Earls Court, West Brompton West Brompton 68 south kensington sales

SALES OVERVIEW SALES BY NUMBERS

The market: Since the New Year, there has been an explosion in interest in the sub £2m market due to the recent tax changes. Interest continues to pour in from abroad as central London property is seen as a safe haven for investment, which has been triggered recently by the weak pound.

Our outlook: Supply is going to be an issue as the market gets tighter with the mounting interest from the local, national and international markets. The prime market is beginning to see signs of activity and we fully expect this to grow for 65% the rest of the year, resulting in a healthy activity in sales. of our buyers are international

Who buys here: Predominately buyers come from Western Europe with Italian and French purchasers being the most prevalent. However, we are beginning to see a resurgence of British buyers, as well as buyers from Asia. There is a 27.8% increase in sales under £2m in the last 12 months

There has been an increase of

Queens Gate Place Our team in action: 37% Acting on behalf of a well-respected developer, we managed to secure from last year of supply in terms to a Belgium couple after a competitive bid situation. This sale terms of new instructions highlighted the thirst for prime central London property from the ever-growing international market.

SALES INSIGHT

Presentation of property and well-maintained common parts are key to achieving the very best price. Having a full set of papers will also ensure a smooth and efficient path to an exchange of contracts.

John Kennedy Partner south kensington sales 69

Ensor Mews Immaculate mews house in the heart of South Kensington

A stunning and exceptionally light mews house that has been re-modelled South Kensington sw7 extended and refurbished to an extremely high standard to create an impressive Freehold four bedroom residence. Guide price: £6,750,000

4 bedrooms, 3 bathrooms, 3 reception rooms, kitchen, utility room, garage, loft space. EPC rating E.

Approximately 253 sq m (2,723 sq ft)

+44 20 7871 4111 [email protected] KnightFrank.co.uk/southkensington 70 south kensington sales

Hereford Square Beautifully refurbished two bedroom apartment with garden views

A wonderful two bedroom flat located on the second floor of a period conversion. South Kensington sw7 The apartment has recently benefited from a full programme of refurbishment Share of freehold and is now presented in superb order throughout. Guide price: £3,250,000

2 double bedrooms both with en suite facilities, reception room, kitchen/dining room, study, a separate utility room. EPC rating D.

Approximately 117 sq m (1,262 sq ft) south kensington sales 71

Courtfield Gardens Spacious apartment with views over communal gardens

A spectacular raised ground floor apartment situated on a popular garden square, Earls Court sw5 this flat is presented in fabulous order and boasts an enormous reception room. Share of freehold Guide price: £1,875,000 Master bedroom with en suite bathroom, bedroom 2, shower room, reception room, kitchen/dining room, study area. EPC rating D.

Approximately 115 sq m (1,240 sq ft)

+44 20 7871 4111 [email protected] KnightFrank.co.uk/southkensington 72 south kensington lettings

LETTINGS OVERVIEW LETTINGS BY NUMBERS

Our outlook: Confidence and affordability is likely to remain a central issue for tenants well into 2013. We forecast the sub £1,000 per week bracket likely to perform exceptionally strongly over the next 12 months with the best family houses also attracting strong levels of interest. We foresee growth in the region 28% of 1% across the London market. of our properties coming to the market are between Who rents here: Our marketplace is perennially popular with affluent French £3,000 and £4,500 per week nationals who number over 400,000 residing in South Kensington. 34% of our tenancies are £2,000 to £3,000 per week

Roland Way SW7 Our team in action: We sold a property 18 months ago on a prime SW7 mews after a highly 34% competitive bidding process. Having been completely rebuilt, including the of our tenants are addition of a basement, we have now been instructed to secure a tenant and in their 30s are currently under negotiations with a large corporate to take the property for three years.

LETTINGS INSIGHT

The demand for fully furnished “turnkey” properties presented to an exceptionally high standard have been increasingly in demand over the last 12-18 months. Tenants are looking for maximum convenience and the results we have achieved demonstrate that premiums will be paid.

David Mumby Head of Lettings south kensington lettings 73

Queen’s Gate Exquisite two bedroom flat with terrace

A first floor flat (with lift) which benefits from high ceilings and fantastic South Kensington sw7 living space with a small terrace leading off the reception room. Available furnished Guide price: £1,295 per week 2 double bedrooms, 2 bathrooms (1 en suite bathroom), kitchen, reception room, terrace. EPC rating C.

Approximately 103 sq m (1,109 sq ft)

NB All potential tenants should be advised that, as well as rent, administration fees will apply when renting a property. Please ask for details of our charges. +44 20 7871 4111 [email protected] KnightFrank.co.uk/southkensington 74 south kensington lettings

Roland Way Three bedroom house with decked roof terrace This luxurious house to rent has been the subject of an exacting build project South Kensington sw7 to the highest of standards. The property boasts secure off street parking and Available unfurnished air conditioning and a great private roof terrace. Guide price: £2,500 per week

3/4 bedrooms (1 with en suite), 2 bathrooms, 2 reception rooms, study/bedroom, cloakroom, kitchen. EPC rating B.

Approximately 202 sq m (2,181 sq ft) south kensington lettings 75

Brechin Place Stunning three bedroom flat with roof terrace A superb split level flat over the third and fourth floor of an exceptional newly South Kensington sw7 refurbished building which benefits from a Smart Technology system which can Available furnished or unfurnished be controlled remotely via iPad. Guide price: £1,595 per week

3 bedrooms, 2 bathrooms, reception room, kitchen. Epc rating D.

Approximately 144 sq m (1,547 sq ft)

Bramham gardens Eagle Place Earls Court SW5 Guide price: £1,355,000 South Kensington SW7 Guide price: £2,500,000

SOLD SOLD

Grenville Place Evelyn Gardens South Kensington SW7 Guide price: £900,000 South Kensington SW7 Guide price: £8,750,000

SOLD SOLD

Sheridan Court Ensor Mews Earls Court SW5 Guide price: £3,350,000 South Kensington SW7 Guide price: £3,295,000

SOLD SOLD

+44 20 7871 4111 [email protected] KnightFrank.co.uk/southkensington south kensington – let properties 77

Stanhope Mews South Courtfield Gardens South Kensington SW7 Guide price: £1,195 per week South Kensington sw5 Guide price: £1,000 per week

LET LET

Roland Gardens Charlesworth House South Kensington SW7 Guide price: £800 per week South Kensington SW7 Guide price: £825 per week

LET LET

Cornwall gardens Queen’s Gate South Kensington SW7 Guide price: £1,250 per week South Kensington SW7 Guide price: £1,250 per week

LET LET

+44 20 7871 4111 [email protected] KnightFrank.co.uk/southkensington 78 RESIDENTIAL SERVICES

WHY KNIGHT FRANK

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

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.co.uk/residential

Buying and selling Renting, letting and managing Consulting and residential property residential property property research

• Finding a property to buy • Finding a property to rent • Valuations • Financing your purchase • Arranging a tenancy • Leasehold reform • Property search and acquisition • Rental property for corporates • Rural consultancy • Services for international buyers • Relocation services • Country house consultancy • Investing in property portfolios • Valuations • Renewables and sustainability • Valuations • Services for landlords • Rural consultancy • Letting your property • Property research Property in Central London • Relocation services please contact • Property management To find out more about Knight Frank’s Noel Flint on +44 20 7861 5020 • Lettings management consultancy services contact David Peters on +44 20 7861 1067 UK property outside of London For more information on renting, please contact letting and property management with Our world-class research team ensures David Peters on +44 1488 682 726 Knight Frank please contact Tim Hyatt that we lead the field in understanding on +44 20 7861 5044 or visit the key drivers of the residential UK farms and estates please contact KnightFrank.co.uk/lettings property market. This means that we Clive Hopkins on +44 20 7861 1064 price and market property to deliver a sale or rental in the most effective way. International Property please contact Paddy Dring on + 44 20 7861 1061 To find out more about our research contact Liam Bailey Knight Frank’s property search service, on +44 20 7861 5133 The Buying Solution contact Philip Selway on +44 20 7591 2647 Other areas of expertise

For more information about financing • New Homes and mortgage options with Knight • Residential Development Frank Finance, please contact Simon Gammon on +44 20 7268 2581 or For more information about our visit KnightFrankFinance.co.uk residential development team please contact Stephan Miles-Brown on +44 20 7861 5403 DIRECTORY

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Important Notice

1. Particulars: These particulars are not an offer or contract, obtained. A buyer or lessee must find out by inspection or in Knight Frank LLP is a limited liability partnership registered in nor part of one. You should not rely on statements by Knight other ways that these matters have been properly dealt with England with registered number OC305934. Frank LLP in the particulars or by word of mouth or in writing and that all information is correct. Our registered office is 55 Baker Street, London, W1U 8AN, (‘information’) as being factually accurate about the property, where you may look at a list of members’ names. This report its condition or its value. Neither Knight Frank LLP nor any joint 4. VAT: The VAT position relating to the property (where is published for general information only and not to be relied agent has any authority to make any representations about applicable) may change without notice. upon in any way. Although high standards have been used the property, and accordingly any information given is entirely in the preparation of the information, analysis, views and without responsibility on the part of the agents, seller(s) Whilst every effort has been made to ensure the accuracy of the projections presented in this report, no responsibility or liability or lessor(s). information contained in this publication, the publisher cannot whatsoever can be accepted by Knight Frank LLP for any loss or accept responsibility for any errors it may contain. All rights damage resultant from any use of, reliance on or reference to 2. Photos etc: The photographs show only certain parts of the reserved. No part of this publication may be reproduced, stored the contents of this document. As a general report, this material property as they appeared at the time they were taken. Areas, in a retrieval system, or transmitted in any form or by any means, does not necessarily represent the view of Knight Frank LLP in measurements and distances given are approximate only. Any electronic, mechanical, photocopying, recording or otherwise, relation to particular properties or projects. Reproduction of this computer generated images (CGI) are indicative only. without prior permission of Knight Frank LLP, 55 Baker Street, report in whole or in part is not allowed without prior written London W1U 8AN. approval of Knight Frank to the form and content within which 3. Regulations etc: Any reference to alterations to, or use of, it appears. any part of the property does not mean that any necessary planning, building regulations or other consent has been WITH 244 OFFICES AROUND THE WORLD

KNIGHT FRANK KNOWS the world buyers and TENANTS From over 60 COUNTRIES

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Discover how Knight Frank can help you sell or let your property. 020 7768 1221 KnightFrank.co.uk

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