Prime Central London villages come to life at Christmas

Christmas is the time of year across Prime Central London when retailers transform their shop exteriors with wonderful lighting and sophisticated decorations and tempt passers-by and shoppers inside with evocative seasonal smells and treats. There is a mood of festive cheer with shop owners and shoppers taking time to stop, chat and savour the time of year.

Marylebone in Prime Central London decorated for Christmas | Image AdobeStock

Where are the villages of Prime Central London?

Across Prime Central London, you will find areas that have evolved into relaxed village settings. This did not happen by accident but from strategic design on the part of innovative landlords recognising that their biggest asset was on their doorstep via the shop front. Howard de Walden provided the template for a ‘destination street’ with the transformation of Marylebone High Street. Since then, we have seen the same process unravel across some of London’s key post codes. Mount Street and Elizabeth Street under the guidance of The Grosvenor Estate, Chiltern Street with The Portman Estate and most recently, Pavilion Road with Cadogan Estates.

Marylebone in Prime Central London decorated for Christmas — Marylebone decorated for Christmas, London | Image AdobeStock

Eat, shop and drink – and enjoy Christmas

In each case, a careful strategy has been implemented which has seen independent retailers opening specialist shops, cafes, bars etc and as a result, these streets have become increasingly desirable with both a domestic and international crowd. And as they have become more appealing as places to go to eat, shop and drink…so too have they become more popular as places in which to live and that has led to steady price increases in each of the local areas. These carefully crafted areas really come into their own during the Christmas period.

Scott's in Mayfair, prime Central London — Christmas at Scott’s in Mayfair, Prime Central London | Image DBPR

Mayfair now a characterful London ‘village’

Mayfair has undergone and continues to undergo a radical transformation creating a unique characterful ‘independent village’ backed by the major landlord – the Grosvenor Estate, which is committed to creating a bespoke shopping and social hub with a distinctive character. As you walk around Mayfair you will often see the front façade of a listed building being propped up by scaffolding, yet behind everything has been knocked down only to be reconfigured and inside everything is brand new creating a perfect layout designed to entice and appeal to the discerning shopper, the happy ‘moocher’ or the fortunate resident.

A Mayfair Christmas in Prime London | Image AdobeStock

Green spaces – public and private

At this time of year hidden gardens and private green spaces come into their own in Prime Central London. Mayfair and the Royal Borough of Kensington & Chelsea are particularly good for secluded garden squares and private communal gardens, many are decorated with attractive Christmas lights and a meeting place for carol singers and yuletide gatherings. These tucked away pockets of relaxing outdoor green space within a busy cosmopolitan area bring a certain village charm and calm. However, houses and apartments that overlook a communal garden can enjoy a pretty wintery view at this time of year.

Memories of summer in Mount Street Gardens, Mayfair

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.

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.

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.”

by Simon Barnes

Ashwaq Al Aswat: The Active PCL Property Market

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Simon Barnes comments:

‘I think we all know PCL prices have been plateauing for some time now, but in reality, in many places prices have simply been too high and this, together with the threat of Mansion Tax and the increase in Stamp Duty, have been responsible for stalling the market. It was clearly a relief to have a definitive election result as far as PCL property was concerned, however it was very unwise of anyone to believe this would have an immediate and dramatic impact on market activity. A number of global events have influenced international buyer activity in PCL…in particular the speculative investment buyers from Russia and the Middle East who have been noticeably less active. However, there is still strong desire from overseas buyers to both build and buy in PCL

Looking ahead into next year, I believe that prices will continue to rise but perhaps not at the same rate as we’ve seen in the past few years. Domestic buyers are becoming increasingly aware that for better value for money…their search may well need to extend beyond PCL.”