Worcestershire View Property Market Focus - Autumn 2012 2 View WELCOME

Welcome to Worcestershire View, our seasonal update on the property markets that matter to you. Along with a snapshot of activity in Worcestershire, we discuss what’s happening in the wider country house market and how it is affected by the booming central London market. Will Kerton MSc MRICS Partner We also outline how important it is to Furthermore, currency movements are T +44 (0)1905 746883 expose your property to as wide an helping to make country property even M +44 (0)7799 478833 audience as possible, and give you a more attractive to overseas buyers. [email protected] glimpse of some of our properties in Singaporeans can now benefit from a the area, both for sale and sold. 40% discount compared to prices back in March 2008, thanks to the Country properties are growing in combination of house prices and these favour with Londoners enjoying record currency movements. Those buying in prices in the Capital and overseas US dollars can benefit from a 34% buyers benefiting from currency discount, and Europeans can save movements. more than 20%.

The significant gap in price Worcestershire is seen as good value performance between the country and with its central location, London market and the booming prime central is not far away. London and National London market does however present buyers looking for a county that an opportunity for the country market, offers excellent schools, beautiful with some London homeowners countryside and an attractive lifestyle cashing in on the record-high values in are discovering that Worcestershire the Capital to get more property for certainly meets their expectations. their money in the country.

Prices in the country house market are now just slightly higher than in 2009, while prices in prime central London have risen by 48%. For example, a property valued at £1.8 million in prime central London in early 2009 would now be worth around £2.66 million, so the owners would have an extra £864,000 to spend on a bigger country home or more land.

Where our buyers come from Instructions by price band

Worcestershire is International 6% under £500k 31% seen as good London 6% £500k to £750k 26% 72% £750k to £1m 21% value and with its Rest of the UK 17% £1m to £1.5m 12% central location, £1.5m to £3m 6% London is not far over £3 4% away.

* Figures reflect activity up to and including Q2 2012. Worcestershire View 3 Prime Central London

How a £1m investment made £407 a day, every day, for three years.

Prime central London property prices for around 10% of the £2m+ central reached a new high in June, but with London market between 2005 and 2010 values almost 50% higher than they and now account for 20% (2011 and were in March 2009, the rate of price 2012 to date). growth is beginning to slow. While this safe-haven factor continues Our index confirms that £1m invested in to support the market, we are central London property in March 2009 beginning to see resistance from would now be worth approximately buyers to ongoing price increases and £1.48m. This growth equates to an the difference between asking and average monthly appreciation of achieved prices is beginning to widen, £12,400, or £407 daily. Some market with the percentage of the asking price observers have questioned whether achieved having fallen from 96% in this strong price growth will continue. March to 92% in June.

Over the past few years international buyers have seen London property as a safe-haven investment in an increasingly volatile global economy. Evidence of this is the fact that European (non-UK) buyers accounted

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Knight Frank Finance is dedicated to minimum deal size for new mortgages negotiating the most attractive or remortgages. property finance terms for clients from its established lender relationships, All consultants at Knight Frank Finance often securing deals unavailable are specialists in their field and are elsewhere. arguably the most respected team in property financing, enjoying excellent Subsequently, nearly half of relationships with high street lenders, the mortgage products sourced major financial institutions and private through Knight Frank Finance in 2011 banks. were not available on the high street. To find out more about how Knight Knight Frank Finance is able to offer Frank Finance can help with your advice on mortgages and loans for all property financing requirements please types of property, as well as other asset call us on +44 (0)203 641 9299 or visit classes. Whilst specialising in sourcing us at KnightFrankFinance.co.uk large mortgages there is however, no 4 Worcestershire View Country property

With prime London properties seeing a rise of 48% since the bottom of the market in 2009, Knight Frank is seeing more interest from London buyers “cashing in” and getting more “bang for their buck” in the country. We are experiencing increasing interest from London buyers who have never considered Worcestershire before. Will Kerton MSc MRICS Partner T +44 (0)1905 746883 M +44 (0)7799 478833 [email protected]

PROPERTIES FOR SALE

NEAR PERSHORE TEME VALLEY SOUTH WORCESTERSHIRE A landmark Georgian house Peace and quiet in the heart of the Secluded 19th century Grade II Listed Teme Valley former hunting Lodge

Guide Price £2,800,000 Guide Price £2,650,000 Guide Price £1,995,000

NEAR CLEOBURY MORTIMER NEAR CLEOBURY MORTIMER NORTH WORCESTERSHIRE A listed Georgian family home on the A fine country hall with outstanding A grand Victorian family home with fine /Worcestershire border views southerly views

Guide Price £1,750,000 Guide Price £1,450,000 Guide Price £1,200,000

SOLD PROPERTIES

WORCESTER CITY NEAR PERSHORE NEAR OMBERSLEY A fine city address in a Conservation An historic hall, listed Grade II, with A fine looking Grade II Georgian family Area breathtaking southerly views home

SOLD Price on application SOLD Price on application SOLD Guide Price £1,575,000 “I had prompt, courteous and friendly attention from Will Kerton throughout.” C. H. – February 2012

NEAR MALVERN NEAR MALVERN Impressive Georgian manor house with A fine period house surrounded by Court with cottage, courtyard of views to the Malvern Hills stunning gardens and grounds traditional barns and stables

Guide Price £1,975,000 Guide Price £1,950,000 Guide Price £1,950,000

CHADDESLEY CORBETT NEAR THE LICKEY HILLS Overlooking fields and the Period farmhouse with secondary A fine Arts and Crafts home with many point-to-point course accommodation and land original features

Guide Price £1,125,000 Guide Price £1,100,000 Guide Price £1,000,000

NEAR NORTH GLOUCESTERSHIRE NORTH GLOUCESTERSHIRE Absolute peace and quiet Impressive Georgian style house in a An elegant Georgian house set in 180 highly sought-after location acres of farmland

SOLD Guide Price £1,750,000 SOLD Guide Price £2,350,000 SOLD Guide Price £2,250,000 6 Worcestershire View Farms & Estates

Nationally Knight Frank has recorded bare farmland values to have risen by 4% over the past 6 months, with average values well in excess of £6,000 per acre. There is a good demand for farms and land within the region. We are regularly bringing buyers into areas that they would not have previously considered. This management of buyers is James Prewett BSc (Hons) MRICS FAAV producing excellent results with the last three sales having undergone Associate T +44 (0)1905 723438 well in excess of the initial guide. M +44 (0)7917 052662 With stock levels low and many farms selling privately, now is the time [email protected] to consider marketing.

PROPERTIES FOR SALE

NORTH WORCESTERSHIRE -ON-TEME INKBERROW Georgian farmhouse with 2 bedroom Georgian farmhouse with extensive Farmhouse, good barns, stables and coach house, in all about 31.02 acres barns, in all about 61.28 acres manège, in all about 48.74 acres

Guide Price £1,200,000 Guide Price £1,100,000 Guide Price £875,000

GLOUCESTERSHIRE WEST WALES HEREFORDSHIRE An imposing Grade II Listed Georgian A unique opportunity to acquire A beautifully restored period farmhouse with 145 acres Manorial Rights over 1,850 acres farmhouse - a Herefordshire gem!

Guide Price £1,800,000 Guide Price £125,000 Guide Price £1,325,000

SOLD PROPERTIES

NEAR MALVERN WEST GLOUCESTERSHIRE Tranquil country property on the edge A superb commercial farm with Traditional farmhouse and courtyard of of a lovely village development potential barns in all about 108 acres

SOLD Guide Price £1,625,000 SOLD Guide Price £2,600,000 SOLD Guide Price £1,600,000 “James Prewett of Knight Frank acted diligently and expediently in assisting in the matter.” D. M. – February 2012

NEAR DROITWICH SPA NEAR MALVERN WILTSHIRE A splendid equestrian property situated A smallholding situated at the foot of Accessible Cotswold farm with stone within a highly convenient position the Malvern Hills farmhouse and well kept farmland

Guide Price £950,000 Guide Price £775,000 Guide Price £3,500,000

GLOUCESTERSHIRE WARWICKSHIRE GLOUCESTERSHIRE A handsome Cotswold stone house A superb miniature estate consisting of A secluded Cotswold farmhouse with with land in a lovely Coln Valley village 72 acres of park and pastureland renovation opportunities

Guide Price £895,000 Guide Price £2,350,000 Guide Price £3,250,000

WEST WORCESTERSHIRE SOUTH WALES WEST WALES A large family home set in 32 acres of An attractive and well-appointed farm An historical freehold moorland estate, peaceful countryside overlooking the Towy Valley amounting to some 790 acres

SOLD Guide Price £1,475,000 SOLD Guide Price £850,000 SOLD Guide Price £245,000 8 Worcestershire View North & East Worcestershire

There remains good demand for homes in North & East Worcestershire. This area is conveniently and centrally placed in The Midlands and is well served by easy access to the regional motorway network. We have seen a 50% increase in the number of properties exchanging George Pickard DIP MNAEA contracts in June 2012 compared to June 2011; the ones that are looking Associate are serious in finding and purchasing their next home. T +44 (0)1905 746885 M +44 (0)7825 780717 [email protected]

PROPERTIES FOR SALE

ODDINGLEY CLENT DODFORD A 6 bedroom Grade II Listed farmhouse An exceptional and distinctive family A family farmhouse with equestrian situated in glorious countryside residence in an accessible location facilities and swimming pool

Guide Price £730,000 Guide Price £945,000 Guide Price £1,195,000

HANBURY SPETCHLEY ELMBRIDGE Family house in a sought-after village Traditional farmhouse situated on the Large extended cottage overlooking its in East Worcestershire edge of Spetchley Park Estate gardens, paddock, woodland and pool

Guide Price £799,000 Guide Price £575,000 Guide Price £795,000

SOLD PROPERTIES

BEVERE STOURPORT ON SEVERN LOW HABBERLEY An impressive and elegant Georgian An interesting residential portfolio An opportunity to redevelop a period residence on the edge of the city situated around a marina farmhouse set within 36 acres

SOLD Guide Price £1,175,000 SOLD Price on application SOLD Guide Price £550,000 “Exceptionally pleased by the support offered by George Pickard of Knight Frank in selling our house - saw it through, got it done, and kept us sane. Couldn't have asked for more. Worked all the hours, and came through above and beyond the call of duty.” H.K.

DUNLEY ENVILLE NEAR BARNT GREEN A Grade II Listed timber framed farmhouse Farmhouse with cottage and barns A fine detached family home set in of immense charm and character with planning, in all about 5.06 acres superb well-maintained mature grounds

Guide Price £750,000 Guide Price £775,000 Guide Price £1,050,000

WORCESTER CITY BRICKLEHAMPTON THROCKMORTON A Grade II Listed Georgian town house, A delightful refurbished cottage with A fantastic family home with leisure including two retail units splendid views to Bredon Hill complex within good-sized grounds

Guide Price £475,000 Guide Price £499,999 Guide Price £875,000

NEAR SALWARPE CUTNALL GREEN WORCESTER CITY A striking and well-presented Georgian An immaculately presented barn A Regency-style town house with house situated in an elevated position conversion in a much favoured village spectacular elevated views over the city

SOLD Guide Price £795,000 SOLD Guide Price £750,000 SOLD Guide Price £550,000 10 Worcestershire View South & West Worcestershire

There are good, serious buyers in the market place at present and this is illustrated by the number of properties the Worcester office currently has under offer, which is up 75% compared with this time last year. There remains good demand for homes in west and south Worcestershire. Shelley Stephenson BSc (Hons) MRICS Associate T +44 (0)1905 746887 M +44 (0)7785 238834 [email protected]

PROPERTIES FOR SALE

NEAR TENBURY WELLS HOPTON WAFERS CLIFTON-UPON-TEME Situated in the centre of its wonderful A wonderful Grade II Listed manor house An extremely well-presented stone gardens in the heart of an attractive village country home in the Teme Valley

Guide Price £750,000 Guide Price £835,000 Guide Price £525,000

WHITBOURNE TEDSTONE DELAMERE A substantial period family home with A gracious house of immense character A period former farmhouse with character and charm throughout with historic walled gardens excellent equestrian facilities

Guide Price £750,000 Guide Price £995,000 Guide Price £795,000

SOLD PROPERTIES

BREDON UPTON-UPON-SEVERN RIPPLE Built with impeccable and unrivalled A classic Worcestershire home with A fine Grade II Listed part moated attention to detail inside and out beautiful gardens farmhouse in magical gardens

SOLD Guide Price £1,295,000 SOLD Guide Price £835,000 SOLD Guide Price £649,950 “Shelley was excellent in every respect - in particular stayed close to the buyer, understood the complete chain, ensured money was in place and kept the show on the road when we hit the inevitable bumps in the road and tempers were fraying. 10/10.” A. M. – March 2012

KNIGHTON-ON-TEME WORCESTER UPPER SAPEY A substantial and improved five In the highly desirable Britannia Situated in the beautiful Teme Valley, bedroom family home Square Conservation Area of the city offering peace and tranquillity

Guide Price £599,000 Guide Price £540,000 Guide Price £625,000

KEMERTON KNIGHTON-ON-TEME CODDINGTON A delightful double fronted village A Teme Valley country home in idyllic A picturesque farmhouse and vineyard, home with presence and charm gardens with land with enchanting gardens and grounds

Guide Price £595,000 Guide Price £700,000 Guide Price £1,200,000

WORCESTER Situated on the desirable Red Hill Lane A unique Grade II Listed home, once the A period detached barn conversion within the City of Worcester Head Gardener’s house to Witley Court within a desirable village location

SOLD Guide Price £695,000 SOLD Guide Price £700,000 SOLD Guide Price £649,000 1 UK NETWORK

1 Aberdeen 20 Hereford 13 2 Ascot * 21 Horsham 3 Basingstoke 22 Hungerford 4 Bath 23 Lauder 23 5 Beaconsfield 24 Leeds 27 6 Berkhamsted 25 London † 7 Birmingham 26 Manchester 8 Bristol 27 Newcastle 9 Cardiff 28 Oxford 10 Cheltenham 29 Sevenoaks 11 Cirencester 30 Sheffield 12 Cobham * 31 Sherborne 17 13 Edinburgh 32 Stratford-upon-Avon 24 14 Esher * 33 Sutton Coldfield 15 Exeter 34 Tunbridge Wells 16 Guildford 35 Virginia Water 26 17 Harrogate 36 Winchester 30 18 Haslemere 37 Worcester 19 Henley-on-Thames

* Lettings Service † 19 offices across Central London 33 7 32 37 20 28 5 6 10 19 2 25 9 8 11 22 14 4 35 12 29 3 16 34 36 21 18 Worcester 31 5 College Street, 15 Worcester, WR1 2LU +44 (0)1905 723438 KnightFrank.co.uk

KnowingKnowing thethe bestbest Knowing the sunniest Knowing the new owners hiding places have all this to come The sale is in the detail.

To hear more about why the Bowrys who will appreciate it as much as you do. This is why, when it was time for Keith and Sally chose Knight Frank, visit our website or call 020 3641 9565. “Knight Frank understood the property… our home is all about the setting”. KnightFrank.co.uk/FranklySpeaking

Important Notice 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. 1. Particulars: These particulars are not an offer 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 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 find 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 may change without notice. Knight Frank LLP is a limited liability partnership registered in with registered number OC 305934. Our registered office is 55 Baker Street, London, W1U 8AN, where you may look at a list of members’ names.