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by Simon Barnes

Luxury property – value and changing tastes

In the luxury property market it would be tempting to say that expensive fittings and state-of-the art decor are luxury items. However, in today’s world, when there is a price put on just about everything, luxury is more about the intrinsic value to the buyer than the cost paid.

luxury property bathroom
Bathroom in Langton Street – on market from Aylesford at £3.5m

Today, in the world of luxury property, real value is more about having the right space. Real luxury is about peace and quiet and the having the time to savour what your money has bought.

Technology

Increasingly the discerning buyer is not looking to pay a premium for a property installed with over-complicated technology, which comes in many guises from baths that run themselves, to electronic remote curtain closing.  Let’s face it, a dimmer switch has the same function as Lutron lighting, and is far easier to use!  However,  proper sized and equipped gyms and proper sized media rooms are still in demand.

luxury property gym
Gym in Mount Vernon House, Hampstead Village from Aston Chase

New build luxury property

There appears to be an increase in demand for larger properties (apartments) with an increasing number buyers opting for new-build apartments as homes rather than just investments. As a consequence, more thought is going into the design/layout to suit owner occupiers rather than just renters or investors

Luxury location

Today’s luxury property buyers are actually shying away from predictable high street brands, with the exception of perhaps a mini Waitrose or Wholefoods. Here, there is an increasing demand and reliance on home delivery.

Hampstead Houses
Hampstead Houses

In London, we are seeing an increase in appeal among buyers for London’s ‘villages’, most notably Marylebone, Hampstead, Highgate, Barnes, Wimbledon. Here landlords have made strategic plans to focus on independent retailers, rather than predictable brands.

And, of course, The Ivy is now the new Pret as there’s now one on every street corner pretty much throughout London, which makes the exclusivity of a ‘village’ all the more appealing and sought after.

Filed Under: Prime Areas Tagged With: luxury, luxury property, property, Simon Barnes

by Simon Barnes

How lateral space in London adds up

“In Prime Central London (PCL) one thing is a fact; lateral space is rare, sought after and expensive.” says Simon Barnes of H. Barnes and Co. “Around Hyde Park Corner one can expect to pay around £5000 per square foot, as you move further out the land becomes cheaper and that is reflected in the asking price.

Traditionally London is full of tall narrow townhouses, deemed by overseas buyers to be quintessentially English and desirable; in reality everyday life is better lived over two floors than five. Asian buyers prefer new build, Eastern Europeans prefer the imposing stucco-fronted grand townhouses found in Belgravia and Knightsbridge. Space here is at a premium and finding a good lateral house is extremely hard.

Lateral space
Hyde Park Corner and Belgravia – credit Google Maps

Buyers in search of a more practical lateral floorplate find it hard to secure anything suitable in the heart of Prime Central London, so they start to widen their search and compromise on location. Hampstead and Highgate offer a better choice for those wanting detached family houses laid out over two or three floors, which can easily accommodate Middle Eastern and Indian families, with maybe three generation or several families under one generous roof.

The problem across PCL is that invariably many substantial properties are listed and therefore works and reconfiguration of the living space is restricted, meaning that rooms look out of proportion when carved up, partition walls don’t work and you end up spending vast sums of money for a second rate layout. The truth is that narrow buildings do not convert well. Today, Grosvenor Square in Mayfair is a rare example of a reconfigured building converted into great lateral space.

Eaton Square Belgravia
Eaton Square Belgravia

This is where mansion blocks tick the right box; purpose built, practical, well built and designed, with efficient heating, plumbing, good sound proofing and insulation. Eaton Square and Eaton Place offer some good flats for those in search of a premier postcode.

Years ago, I recall the best flat in London at the time in Eaton Square being sold – it was a first floor apartment spread out across four buildings. Recently, a flat in Knightsbridge comprising around 7,000 square feet sold for around £10,000 per square feet, double the going rate, because it offered exceptional rare lateral space in such a prestigious location.”

Filed Under: Advice, London Tagged With: lateral space, PCL, Prime Central London, Simon Barnes

by Simon Barnes

Stuck on stucco in prime central London

Simon Barnes explains why the stucco fronted house in Prime Central London is seen as a status symbol by international buyers

stucco fronted building London

“Regent’s Park offers some of London’s most desirable and iconic stucco-fronted houses; crescents of period Nash built properties looking out across the vast green space of Regent’s Park. For international buyers London’s stucco fronted homes represent a status symbol with their imposing grand facades, pillars and ornate front doors.

stucco fronted London


The Royal Parks and Crown Estate who manage the buildings are most diligent about the upkeep and external appearance, so the properties are immaculately presented with paint in a uniform shade and all kept in tip top condition.

The quiet streets of Belgravia with Eaton Square and Chester Square boast grand stucco facades, long favoured by the aristocracy and the great and the good, including the Late Baroness Thatcher, who was a long term resident of a stucco townhouse in Chester Square.

stucco fronted belgravia

Over the centuries, these traditional period townhouses have remained largely unchanged in layout. They tend to be tall and narrow with similar floorplates – staircases leading off a narrow deep hallway and a main L-shaped reception room; neither particularly inspiring or practical and because they are usually listed, alterations and reconfiguration is very restricted.


Stucco fronted ‘trophy homes”

Buyers from overseas are seduced by the symmetry and grandeur of the stucco facades, which they consider typical of London’s finest residential offering. They overlook the impractical design, lack of lateral space and listed status and perhaps because many of them do not use the property as a main home, but own several homes around the world, they are able to accept the imperfections safe in the knowledge that they are happily stuck with one of London’s trophy homes.”

About Stucco – from Wikipedia

Stucco is a material made of aggregates, a binder, and water. Stucco is applied wet and hardens to a very dense solid. It is used as decorative coating for walls and ceilings and as a sculptural and artistic material in architecture.

Read more here

Filed Under: Advice, London Tagged With: Prime Central London, Stucco, stucco fronted, trophy homes

by Joshua Buckley

Jetsmarter – connecting travellers to flights

H. Barnes and Co associate Olivia Innocenti Buckley was recently appointed as a brand ambassador of private jet company JetSmarter.

“It was love at first sight when I first heard about the company and their concept and even more so after meeting the people that work there” says Olivia.  “A  team of young, dynamic and charming people is what makes the Jetsmarter family so special.”

JetSmarter event
Olivia Innocenti Buckley (centre), India Langton (left), Amanda Shepard (right) at JetSmarter event

About JetSmarter

JetSmarter was founded in 2012 by Russian Entrepreneur Sergey Petrossov and is one of the most prominent private jet startups. It started in the US, with its headquarters in Florida, and has now started to expand into Europe, focusing not only on the main European cities and financial centres, but also on the major holiday hotspots such as Ibiza and Nice – targeting the many weekend jet setters.

Everything is done from their slick app and people pay a yearly fee to join one of JetSmarter’s three different membership tiers which gets them access to the private jet booking system:

  • ‘SIMPLE’ costs $5000 per year and it grants you access to the app which then lets you book “empty leg” flights for free.
  • ‘SMART’ lets you book seats on jets chartered by JetSmarter that run regularly scheduled flights, and also lets you charter your own jet. This is the most popular type of membership and costs $15,000 a year.
  • ‘SOPHISTICATED’ costs $50,000 and lets you make four outstanding reservations, and you can book seats for other people, even if you’re not on the flight.

JetSmarter App

JetSmarter Operations

Jet Shuttles:  Scheduled flights throughout Europe, North America, and the Middle East. These are posted a month in advance on the app and members can book on all shuttles under 3 hours at no extra cost to them.

Jet Deals: These flights are all complimentary for members. They are repositioning legs for fully paid charter trips and they are flying empty. JetSmarter allows members to ride on these legs and bring guests at no extra cost as well. JS post thousands of these legs every month.

On Demand Charter: If you need to charter a private jet, the JetSmarter app is able to show you options within 30 seconds. It will show you pictures, pricing, safety ratings, and tons of other information so you can make an informed decision and make a request right through the app within minutes of your time.

Members also have access to 24/7 concierge services who can assist with any lifestyle need you can think of.

JetSmarter connects travellers to flights in 50 markets around the world, including New York, Chicago, Fort Lauderdale, Las Vegas, Atlanta, London, Paris, Moscow, Dubai, Milan and other business and leisure travel hubs.

Founder Sergey Petrossov said he wants to expand to be available in 80 to 100 markets by the end of 2017.


From an original article on the Wild Free Innocent luxury lifestyle blog; written by Olivia Innocenti Buckley and used by permission.

To read the full article, please click HERE

Filed Under: LIfestyle, Olivia Innocenti Buckley Tagged With: Olivia Innocenti Buckley, private jet, private jet company, Sergey Petrossov, Wild Free Innocent

by Simon Barnes

London landlords let their imagination work wonders

Across prime areas of London landlords have historically been motivated only by securing and retaining their tenants. Historically London landlords did not usually seek to reinvent the precious commodity of commercial space they had right under their noses.

Wilton Crescent - London landlords
Wilton Crescent in Belgravia – Aylesford International

It took forward-looking and powerful London landlords in the form of the Portman Estate, Howard de Walden, Cadogan and Grosvenor Estates to reach the conclusion that these prime pockets of London real estate could be so much more than they were.

For example, as recently as ten years ago Mount Street was a mishmash of commercial offices and shops, albeit one with a few established shops. Among those which still exist are Douglas Hayward, tailors, and Allens of Mount Street, one of London’s longest standing butchers. Similarly, in recent times Marylebone High Street, Chiltern Street, Elizabeth Street and Motcombe Street in refined but characterless Belgravia were all uninspiring and dull.

London Landlords and London’s Villages

In recent times, these caretakers of the streets of London set about collaborating with estate agents to craft a strategy to cultivate individual destination ‘villages’ within the city. The mighty London landlords came up with a vision and, over time, set about transforming their areas into desirable, vibrant and independent shopping destinations.

Each area hosted charming well-chosen retailers with their own distinct personality, instead of the standard lacklustre chain shops which had been a stalwart on every street. Quirky and practical retailers, from barbers to greengrocers and butchers, jostle alongside independent delis, cafes and boutiques – adding interest and a buzz to all these upmarket areas.

Belgravia - credit Google Maps
Belgravia from the air – Google Maps

The major London landlords ploughed large sums of capital into substantial refurbishments of buildings and road layouts. They knocked down old ugly offices, such as in Pavilion Road off Sloane Street, replacing the 1960’s building with a smart contemporary office structure. In places they replaced paving with fancy cobbled streets to enhance the more traditional village appearance. They also added to the character by creating attractive shop fronts, enhancing the feel of stepping into a thoughtful, pleasing village hub.

Pavilion Road and Cadogan Gate - credit Google Maps
Pavilion Road and Cadogan Gate – Google Maps

The end result has been beneficial not only to visitors and shoppers, but also to local residents. Properties have been boosted in value because the surrounding areas have undergone a transformation; enhancing the sense of community and revitalising the streets. People tend to stay in areas that support their everyday needs and offer a feel-good factor as they go about their daily life.

Shopping and dining in Elizabeth Street - Google Maps
Shopping and dining in Elizabeth Street – Google Maps

Where once in Belgravia you could not pop out to a local shop for a pint of milk, today in Motcombe and Elizabeth Street you can find a handy newsagent, a food shop and a host of local retailers less than a stone’s throw from the large elegant houses that line Belgravia’s famous streets.

So today’s Prime Central London is bursting with ‘new villages’ and new life. It just goes to show what a splash of imagination and sound planning by these London landlords has cleverly achieved.

By Simon Barnes of H.Barnes & Co.


Photo Credits – 1 Aylesford International 2/3/4 Google Maps

Filed Under: Prime Areas Tagged With: Cadogan Estate, Elizabeth Street, Grosvenor Estates, Howard de Walden, London landlords, Portman Estate

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