International Property & Travel Volume 27 Number 3

Page 18


“There are a number of trophy buildings, including the impressive Academy Gardens, one of the older development projects undertaken in 2000. Since then One Kensington Gardens has sold very well and currently the CIT scheme of Lancer Square is commanding £4,000 plus per sq ft. Lodha’s third scheme has been announced off Kensington High Street and we all wait to see how this does, following its success at 1 Grosvenor square and Lincoln’s Inn.” For those tempted by Kensington’s grand designs, “There’s a bounty of traditional Victorian apartment buildings, all generally commanding prices significantly north of £2million. This diverse housing offering appeals to a real cross-range of wealthy occupiers. All of this coupled with access to Heathrow and M4 in only 13 miles,” comments Mr. Sheehan. Ms Blain concurs and adds, “It is not uncommon to see a one-bedroom flat sell in excess of £1-1.5million. Two beds can range from just over a million and in excess of two million, while houses tend to start at £4 or £5 million and upwards. If you were wanting to purchase a mews house, they usually start at £2million plus. Also, it is not unusual for some of the best properties to achieve £2000 per square foot.” Whilst the largest demand of homes in the area previously came from overseas investors, there has been a noticeable deviation, Ms Blain explains, “In the last few years there have been a number of changes to stamp duty and capital gains tax which have seen the demand in the area shift, with more of a focus on domestic buyers, still eager to live in Kensington and Chelsea and enjoy the luxurious living it offers. London is such a diverse, cosmopolitan city that many of these buyers originate from Europe, Asia, America, Russia but are now ‘Londoners’ first and foremost and are looking for long term homes.”

Roland Mansions An exquisitely presented ground floor apartment with excellent use of space and well-planned and proportioned rooms. Situated in a smart, period building, this residence sits on a prestigious address and boasts its own private entrance. The flat has been completely renovated by an award-winning interior designer, to an excellent standard with bespoke finishes throughout. It would make an ideal first time buy or pied-à-terre and could be moved into without further expense. £1.1m / €1.2m / $1.36m Douglas & Gordon



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