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Issue Seven


LOCAL | EXPERT | AFFORDABLE

With our unrivalled local expertise we have been helping our clients buy and sell property for over 226 years. For full details of all our services please have a look at our website or call us. Clear cost estimates and where possible fixed fees.

ST CHRISTOPHER’S HOUSE TABOR GROVE WIMBLEDON LONDON SW19 4EX T 020 8946 1173 INFO@GREGSONS.CO.UK WWW.GREGSONS.CO.UK AUTHORISED AND REGULATED BY THE SOLICITORS REGULATION AUTHORITY


Welcome to the latest issue of our central London homepage magazine, providing insight into your local property market and featuring a selection of houses and flats for sale and to rent. Since Issue Six, the government has introduced an additional 3% on each Stamp Duty Land Tax level for those purchasing any additional property and announced that the reduction in Capital Gains Tax, part of the March 2016 budget, will not apply to residential sales. This increased taxation comes in addition to the higher rates of STLD, the Annual Tax on Enveloped Dwellings and extension of CGT to non-residents that were implemented in the last 16 months. Additionally, from April 2017, there will be

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Frank Harris & Co. 020 7600 7000 tinaevans@frankharris.co.uk

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Chelsea sales 020 7581 5881 lettings 020 7581 8431 chelsea@jackson-stops.co.uk Holland Park sales 020 7727 5111 lettings 020 7727 5222 holland.park@jackson-stops.co.uk

a reduction in tax relief on the interest on mortgages for rental properties.

JSS Private Client 020 7664 6644 guykelsey@jssprivateclient.com

The markets in which we operate have therefore been subject to much legislative change that

Pimlico & Westminster sales and lettings 020 7828 4050 pimlico@jackson-stops.co.uk

directly impacts demand. We have also had the London Mayoral election to contend with and the EU Referendum causing another degree of uncertainty in the market. Greater importance must thus be placed upon gauging local market conditions correctly when considering a property transaction. Please do contact your local Jackson-Stops & Staff office for further information or specific property advice at any time.

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Country Houses & Estates 020 7664 6646 london@jackson-stops.co.uk

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JSS Egerton 020 7664 6648 admin@jssegerton.com

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International sales 020 7828 7387 international@jackson-stops.co.uk

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jackson-stops.co.uk/london /JSSLondon @jsslondon

Outer cover image: Valentine Place, London, SE1 by Crest Nicholson. Please contact newhomes@jackson-stops.com for further details.

For all publishing, print and advertising sales enquiries please contact Lizzie Baxendale on 07715 496 853 or lizzie@littlebirdiecreative.co.uk.

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Mayfair sales and lettings 020 7664 6644 mayfair@jackson-stops.co.uk

Š Little Birdie Creative | homepage 2016. All rights reserved. No part of this magazine may be copied, imitated or reproduced without the prior consent of the Publisher. The content of this magazine is believed to be correct but its accuracy is not guaranteed and it does not form part of any offer or contract. Responsibility cannot be accepted for any omissions or errors. Please recycle this magazine.

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Residential Development sales 020 7664 6649 newhomes@jackson-stops.com

Nicholas Butterworth MRICS Chief Executive

*For full details of all associated lettings fees for the properties advertised throughout homepage, please visit our website: jackson-stops.co.uk/london/tenants-service-charges.html

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Central London market comment

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central London market comment House prices rose across London by 13.9% over the last 12 months (March 2015 - March 2016), reported by the Land Registry. The average price now stands at ÂŁ534,785. In central London, slower price growth continues with the lower value and outer boroughs rising at twice the rate of the higher value boroughs. The graph (below, right) shows the annual growth in the most expensive 25% of London boroughs in comparison to the 25% lowest value. The volume of sales in Kensington and Chelsea averaged 169 transactions per month in 2015 whereas 2014 averaged 221 and 220 in 2013. Our central London offices recorded a ratio of 2.4 prospective purchasers to every prospective seller in the last 12 months (Mar 2015 - Mar 2016)** whereas in the 12 months prior the ratio was 3.6, demonstrating reduced demand which helps to explain the lower transaction levels. Higher holding and transaction costs along with the uncertaintly of the EU Referendum will continue to result in a disproportionate dampening effect in the higher value markets. The additional 3% stamp duty levied on individuals buying as an investment or additional residence took hold from 1st April and will further reduce demand in our markets where buy-to-let purchases are an important component of overall demand. Despite this lower activity, prices remain firm with some upward movement. The outer boroughs that are experiencing greater inflation are growing from a lower base and are less encumbered by the recent regulation and taxation. It is important to note that the 4.2% growth in Kensington and Chelsea and 8.3% seen in the City of Westminster over the last 12 months (Mar 2015 - Mar 2016)* is comparatively strong when compared to other asset classes, highlighting that even with reduced demand sufficient activity remains to drive the market further. In the lettings market, rental prices have remained broadly stable. Demand has slightly reduced by uncertainty and poor performance in the financial sector. We have seen a number of corporate tenancies not renew and less enquiries from relocation companies. Greater amounts of supply in the central London market is resulting in lower price growth for rental values and some landlords have had to reduce asking prices in order to secure a tenant. Despite this, our offices are seeing consistent underlying demand for both flats and houses, conducive to keeping rental prices stable. Robert Butterworth BA(Econ) Head of Research

2 | jackson-stops.co.uk/london | facebook.com/JSSLondon

Annual percentage growth in average property price from March 2015 to March 2016*

Highest

value boroughs (top 25%)

average price ÂŁ858,831

Lowest

average price ÂŁ363,829

value boroughs (bottom 25%)

0 2 4 6 8 10 12 14 16 18 20 percentage growth

Source: *Land Registry Source: **JSS London Research


my patch Tina Evans, Group Director of Frank Harris & Company and Head of Sales at Jackson-Stops & Staff’s associated office in the City of London, tells us why she lives and breathes this unique part of London.

QA

Where do you live and why? I moved to the South Bank three years ago and love it here. I wanted an easy commute and most days I walk to my office in the City. My flat is off Lower Marsh, behind Waterloo station, which is a wonderfully quirky street with an excellent food market and a number of specialist shops you can’t find anywhere else in London. What are the main changes you’ve seen in the time you’ve worked in the City? The biggest change is that people now have their main home here whereas in the past it was largely a place people only stayed during the week. We’ve been selling flats in the Barbican for more than 30 years and it’s become a magnet for families, couples, empty nesters, even retirees, as have the rest of the City and surrounding areas. There’s so much more to do in the City now, especially in the evenings and on the weekends.

Tina Evans Group Director Frank Harris & Company 87 Long Lane, London EC1A 9ET 020 7600 7000 tinaevans@frankharris.co.uk

What are the latest trends in property design in the area? People are far more design conscious nowadays. You see all sorts of flooring wood, cork, rubber, for example, and a

huge variety of kitchen worktops - concrete, granite, stainless steel, marble etc. Where’s the best place to go for a Friday night cocktail? Bird of Smithfield opposite Smithfield market has a lovely roof garden - great for a glass of Prosecco on a warm evening. …and a perfect place for Sunday brunch? Capricci, round the corner from the Tate Modern, is a classic Italian that uses fresh ingredients. Finally, tell us a little known fact about the area? There’s a new development in Shoreditch that will include a 200-seat amphitheatre and heritage centre on the site of Shakespeare’s Curtain Theatre, which is where Romeo and Juliet and Henry V were first performed in 1577.

Estate agents in the heart of central London Frank Harris & Co. operates in association with Jackson-Stops & Staff from its offices in the heart of the City, across Bloomsbury and on the South Bank.

frankharris.co.uk | twitter@frankharris_uk | facebook.com/frankharrisestateagents | 3


4.2%

jackson-stop

Average price increase in RBKC from March 2015 to March 2016*

Average price of property in RBKC as of March 2016* (this figure is the highest of all London boroughs)

158%

Rental values in Chelsea averaged £690 per week for flats and £2,039 per week for houses in Q1 2016**

jackson-stops.co.uk/london jackson-stops.co.uk/london

Chelsea sales 020 7581 5881 lettings 020 7581 8431 chelsea@jackson-stops.co.uk @jsslondon

£1,380,076

Percentage by which this average property price is higher than the average property price across all other London boroughs*

£690 pw flats £2,039 pw houses

Source: *Land Registry Source: **LonRes

4 | jackson-stops.co.uk/london | facebook.com/JSSLondon

Chelsea

It’s been a productive 2016 so far and with our newly ensconced sales and lettings teams it is true to say that we have hit the ground running. There remains a slightly cautious approach by purchasers at the top end of the market. This is largely a response to 2015’s stamp duty restructuring and of course the upcoming EU Referendum, the outcome of which we await with huge interest. In March 2016, the average price of property sold in the Royal Borough of Kensington & Chelsea was £1,380,076*, which was the highest price recorded across all London boroughs. This continued confidence serves as a reminder that this special enclave of our capital remains a secure place in which to invest, whether that be by British buyers or by those purchasing from overseas. Our lettings team has high numbers of tenants registered to rent properties of varying styles and sizes, testament to Chelsea’s level of desirability in terms of the world class cultural, professional and general lifestyle opportunities it provides. Do get in touch to find out more about how we like to do things the right way for our clients.


QA

Name: Toby Whittome Position: Director, Chelsea Sales

Name: Stephen Pamnani MARLA Position: Manager, Chelsea Lettings

How is the sales market performing in your patch at the moment? Continued national and global uncertainty mixed with the significant increases in property related taxation has had an unsettling effect on both buyers and sellers. Activity levels therefore remain relatively low, however excellent prices are still being achieved for properties marketed at a realistic level.

How is the lettings market performing in your patch at the moment? Since the beginning of the year we have noted a reduction in the number of applicants registering with us to rent larger family houses. However, we are experiencing strong demand at the £400-£500 per week price point.

How have the recent legislative changes in the property market impacted upon your area? The impact has been noticeable. The marked increase in the number of people choosing to extend and modernise their current properties rather than selling is a direct result of this. Whereas previously people would move up and down the property ladder quite freely, depending on how much space they needed at particular stages, the taxes now in place mean that some people are staying where they are and making do. This shortage of stock serves to keep prices very high, whilst providing little choice to buyers who sometimes put their search on hold until there is more available to view. What’s been the most significant property trend in your area since you’ve worked here? The digging of basements, creating rear extensions and loft conversions have all now become more conventional than selling in order to buy a bigger property. Sum up Chelsea for us in just three words: Beautiful, friendly, fun.

Is there a most frequently requested type of property by tenants looking to rent in the local area? There is good demand for well presented, one and two bedroom apartments. These apartments will let very quickly if priced correctly, usually to professional occupants. What’s been the most significant change to the lettings market since you began working here? Family houses and the high end of the rental market continue to experience tough market conditions across prime central London. This is due largely to the continued lack of corporate entities relocating from abroad. Sum up Chelsea for us in just three words: Cosmopolitan, affluent, international. Left to right: Stephen Pamnani MARLA Manager, Chelsea Lettings Chloe Cooper Negotiator, Chelsea Lettings Judy Wykeham Manager, Chelsea Sales Toby Whittome Director, Chelsea Sales jackson-stops.co.uk/london | facebook.com/JSSLondon | 5


Chelsea | sales sales 020 7581 5881 lettings 020 7581 8431 chelsea@jackson-stops.co.uk @jsslondon

Moore Street, SW3

ÂŁ5,250,000 freehold A contemporary family house situated to the west of Cadogan Square, providing access to the facilities of Walton Street, Sloane Square and Kings Road. Open plan reception rooms including a family kitchen/ dining room with direct access to a west-facing rear garden; five bedrooms; two bathrooms. EPC - D

Moore to offer 6 | jackson-stops.co.uk/london | facebook.com/JSSLondon


Advanced home entertainment and bespoke automation for a contemporary lifestyle Imagine a living and working space that is in perfect harmony with your moods, your movements and your own unique way of doing things. Whether enhancing your home entertainment experience with a private cinema room, protecting your property with a full HD CCTV system or effortlessly operating your resources with automated controls for lights, audio, video or heating – it’s all possible with the help of our professional team. Using our wealth of experience and knowledge, Webstract can design, supply, install and programme complete audio and visual technology solutions for both residential and commercial customers. We work closely with you and your architect/developer every step of the way, from design through to installation.

home automation | intelligent lighting home cinema | multi-room entertainment home security

Webstract have been designing and installing technically advanced and proven solutions since 2003. For further information or to arrange a visit to our unequalled home cinema experience in Hertfordshire, as pictured above, please call us on 01582 839210. Place Farm Wheathampstead Hertfordshire AL4 8SB 01582 839210 info@webstract.co.uk webstract.co.uk


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Chelsea | sales sales sales 020 7581 5881 lettings 020 7581 8431 chelsea@jackson-stops.co.uk @jsslondon

the place to be

Eaton Place, SW1

ÂŁ1,950,000

leasehold 90 years A first floor, one bedroom apartment which benefits from direct lift access and a roof terrace accessible from the bedroom. The property has retained many of its period features; of particular note are the high ceilings associated with a property from this period. EPC - D

8 | jackson-stops.co.uk/london | facebook.com/JSSLondon


freehold house Ives Street, SW3

ÂŁ1,895,000 freehold A freehold house arranged over three floors, situated in a one-way street in the heart of Chelsea. Accommodation measuring 936sqft in total; reception room measuring 28ft in length; three bedrooms; two bathrooms. EPC - C

jackson-stops.co.uk/london | facebook.com/JSSLondon | 9


Chelsea | lettings sales 020 7581 5881 lettings 020 7581 8431 chelsea@jackson-stops.co.uk @jsslondon

Chelsea charm Moore Street, SW3

ÂŁ3,400 per week, fees apply* A family house offering excellent entertaining space, situated on one of the finest streets in Chelsea, just moments from Sloane Square. Four reception rooms, including drawing room with high ceilings and working fireplace; four double bedrooms, four bathrooms; garden. EPC - D

10 | jackson-stops.co.uk/london | facebook.com/JSSLondon


Ragley Hall, Alcester, Warwickshire Friday 29th July - Sunday 31st July 2016


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Chelsea | lettings lettings sales 020 7581 5881 lettings 020 7581 8431 chelsea@jackson-stops.co.uk @jsslondon

Sydney Street, SW3

ÂŁ1,100 per week fees apply*

An elegant maisonette set over the first, second and third floors of this desirable period building, 0.3 miles from South Kensington and close to the amenities and restaurants of the Kings Road. Reception room; kitchen; three bedrooms; bathroom; two shower rooms; west facing terrace; unfurnished. EPC - D

a period maisonette

12 | jackson-stops.co.uk/london | facebook.com/JSSLondon


Flood Street, SW3

ÂŁ700 per week fees apply*

An apartment offering over 1,300sqft of flexible accommodation, located off Kings Road and 0.6 miles from Sloane Square.

an artist’s studio style apartment

Studio room, master bedroom with en suite bathroom, double bedroom/study space, shower room, guest w/c and kitchen. Available unfurnished. EPC - C

jackson-stops.co.uk/london | facebook.com/JSSLondon | 13


jackson-stops.co.uk/london jackson-stops.c

4.2%

Average price increase in RBKC from March 2015 to March 2016*

Average price of property in RBKC as of March 2016* (this figure is the highest of all London boroughs)

Percentage of all current applicants in JSS central London who are cash buyers**

Rental values in Kensington, Notting Hill and Holland Park averaged £721 per week for flats and £1,649 per week for houses in Q1 2016***

jackson-stops.co.uk/london jackson-stops.co.uk/london

Holland Park sales 020 7727 5111 lettings 020 7727 5222 holland.park@jackson-stops.co.uk @jsslondon

£1,380,076

71%

£721 pw flats £1,649 pw houses

Source: *Land Registry Source: **JSS Research Source: ***LonRes

14 | jackson-stops.co.uk/london | facebook.com/JSSLondon

Holland Park A desire to combine the best aspects of cosmopolitan city life with access to beautiful green space is the driving motivation for many potential buyers and renters we speak to at our office on Portland Road. Whilst the local market is not immune to the effects of a weaker global economy and recent legislative changes, there are numerous reasons why it continues to be incredibly popular with British and international people in search of a special place to settle. As well as being extremely well-located for commuters in and out of the city, the creativity, beauty and vibrancy of the area all combine to attract families and single professionals alike. In August this year, the annual spectacle of the Notting Hill Carnival will once again serve to remind us just how magical this area is. Every property sale is unique and we work hard to listen and to understand the individual motivations of every client. Similarly, our landlords know that we always work hard to provide a seamless service throughout the term of every tenancy. If you would like to discuss your own property plans with us please do get in touch. We are delighted that our relationship with the Lacey Contemporary Gallery on Clarendon Cross has allowed us to co-host quarterly events and to get to know many members of the local community. Do get in touch for details about our next planned evening.


Sebastian Anduze Manager, Holland Park Sales Catherine Hanley MARLA Manager, Holland Park Lettings

QA

Name: Sebastian Anduze Position: Manager, Holland Park Sales

Name: Catherine Hanley MARLA Position: Manager, Holland Park Lettings

How is the sales market performing in your patch at the moment? Following a relatively slow start to the year we are now enjoying increased levels of activity in terms of buyer registrations, which is good news for our clients. House prices are forecast to remain constant throughout the rest of the year and whilst we continue to see a lack of property coming to the market, it remains an excellent time to sell a property to motivated purchasers.

How is the lettings market performing in your patch at the moment? We have noticed a decline in tenants moving from abroad, with many of our applicants now looking to move here from another UK location, often within a few weeks, which keeps us on our toes! Our stock levels have increased dramatically across all levels, from studios to family houses, with applicant levels creeping up as we head into the summer months.

How have the recent legislative changes in the property market impacted upon your area? The reduced volume of stock available remains a real issue and the stamp duty increases since 1st April this year, on both first and second property purchases, have impacted greatly on house sales at the level of £2.5m and over. However, transactions above £10m in our area have remained constant in recent years, with increases in purchase costs apparently not causing such an issue for buyers at this level.

Is there a most frequently requested type of property by tenants looking to rent in the local area? Tenants are very conscious about how a property looks; neutral décor and wooden flooring proves particularly popular, along with convenient access to public transport as fewer tenants now have cars, which obviously lessens the need for parking provision.

What’s been the most significant property trend in your area since you’ve worked here? Without question, it’s the stamp duty increases which have affected people’s decision-making process when they are considering their next house purchase. The increased costs of moving at certain price points have now become prohibitive to a large number of people we speak to. Sum up Holland Park for us in just three words: Popular, smart, convenient.

What’s been the most significant change to the lettings market since you began working here? The amount of new legislation that has been introduced recently can be rather daunting for landlords. Our lettings teams have undergone extensive training on a number of recent changes, such as the new Right to Rent, Legionella and Carbon Monoxide detector requirements. Landlords must feel confident that their agent is fully up to date with these legal requirements and able to respond accordingly. Sum up Holland Park for us in just three words: Peaceful, clean, fabulous.

jackson-stops.co.uk/london | facebook.com/JSSLondon | 15


Holland Park | sales sales 020 7727 5111 lettings 020 7727 5222 holland.park@jackson-stops.co.uk @jsslondon

Addison Avenue, W11

ÂŁ11,500,000 freehold

A Grade II listed Victorian family house, arranged over four floors. A unique opportunity to acquire a wonderful home on this prestigious Holland Park road, incorporating a mews house (Carson Terrace) to its immediate rear. EPC - D

a home with a mews 16 | jackson-stops.co.uk/london | facebook.com/JSSLondon


Crawford & Gray Architects

Specialists in the refurbishment and extension of period buildings

+44 (0) 20 7221 5966 | crawfordandgray.co.uk


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Holland Park | sales lettings sales 020 7727 5111 lettings 020 7727 5222 holland.park@jackson-stops.co.uk @jsslondon

river views Thames Reach, W6

ÂŁ1,395,000

share of freehold A two double bedroom, two bathroom apartment in this prestigious Richard Rogers designed riverside development. Underground parking and porter. EPC - C

18 | jackson-stops.co.uk/london | facebook.com/JSSLondon


Buckley House, Addison Road, W14

ÂŁ1,395 per week, fees apply*

A newly refurbished light and spacious three bedroom property on the second floor of this purpose built block. The split level apartment has wooden floors throughout and a private balcony. Garage under separate negotiation. Unfurnished. EPC - E

purpose built

jackson-stops.co.uk/london | facebook.com/JSSLondon | 19


Holland Park | lettings sales 020 7727 5111 lettings 020 7727 5222 holland.park@jackson-stops.co.uk @jsslondon

townhouse with terrace

Taverners Close, W11

ÂŁ950 per week, fees apply* A modern townhouse measuring c.1280sqft, situated in a gated mews off Addison Avenue. Open-plan living/dining room with adjoining fitted kitchen; three double bedrooms; two bathrooms (one en suite); private roof terrace; off-street parking for one car; unfurnished. EPC - D

20 | jackson-stops.co.uk/london | facebook.com/JSSLondon


JSS Private Client

Guy Kelsey

020 7664 6644

guykelsey@jssprivateclient.com

17c Curzon Street, Mayfair, London, W1J 5HU


Holland Park | lettings sales 020 7727 5111 lettings 020 7727 5222 holland.park@jackson-stops.co.uk @jsslondon

Addison Crescent, W14

ÂŁ765 per week, fees apply* A two double bedroom apartment on the first floor of a period building. Double reception room; fitted kitchen with breakfast bar; two bathrooms, one en suite; useful storage; unfurnished. EPC - D

period living

22 | jackson-stops.co.uk/london | facebook.com/JSSLondon


let recently, a small selection from our Chelsea, Holland Park, Mayfair and Pimlico offices Please contact your local Jackson-Stops & Staff office if you would like us to LET and/or MANAGE your property. Chelsea 020 7581 8431

Holland Park 020 7727 5222

Mayfair 020 7664 6644

Pimlico 020 7828 4050

jackson-stops.co.uk/london | facebook.com/JSSLondon | 23


Average price increase in the City of Westminster from March 2015 to March 2016*

Average price of property in the City of Westminster as of March 2016*

Pimlico & Westminster Percentage of all current applicants in JSS central London region who are cash buyers**

We are extremely proud of the success we have achieved on behalf of our clients throughout the last year. In terms of pound per square foot prices, Pimlico continues to offer good value for money when set against its traditionally more expensive neighbours. However, this trend is perhaps beginning to weaken as British buyers become priced out of the very upper end of the central London market and gravitate to other centrally located areas such as Pimlico - and sensibly so, as far as we are concerned. Cubitt’s stunning white stucco architecture dominates and has continued to provide residents with beautiful and adaptable living space. The popularity of lateral living with professional couples and growing families alike continues to strengthen. We were delighted to celebrate the ten-year working anniversary of Harry and Georgina earlier this year. This incredibly strong partnership continues to reap rewards for our large number of long-term clients, who benefit from the pair’s passion for providing professional, personable client service of the highest levels. 24 | jackson-stops.co.uk/london | facebook.com/JSSLondon

Percentage of all current applicants in JSS south west London region who are cash buyers**

Rental values in Pimlico, Westminster and Victoria averaged £590 per week for flats and £879 per week for houses in Q1 2016*** Source: *Land Registry Source: **JSS Research Source: ***LonRes

jackson-stops.co.uk/london jackson-stops.co.uk ja

8.3%

jackson-stops.co.uk/london jackson-stops.co.uk/london

Pimlico & Westminster sales and lettings 020 7828 4050 pimlico@jackson-stops.co.uk @jsslondon

£1,064,308

71%

25%

£590 pw flats £879 pw houses


Left to right: Annabel Smith Manager, International Sales Harry Buchanan Director, Pimlico & Westminster Sales Georgina Clarke FARLA Director, Pimlico & Westminster Lettings

QA

Name: Harry Buchanan Position: Director, Pimlico & Westminster Sales

Name: Georgina Clarke FARLA Position: Director, Pimlico & Westminster Lettings

How is the sales market performing in your patch at the moment? We have had our most successful year ever, despite being somewhat hampered by the general election, stamp duty changes and the recent uncertainty surrounding Brexit. It’s testament to our area that buyer enthusiasm seems to have continued to improve steadily year on year in Pimlico and Westminster.

How is the lettings market performing in your patch at the moment? We experienced a period of low tenant movement in the early spring, which has since subsided in more recent weeks. The market traditionally ‘wakes up’ at this time and we have seen more corporate activity recently, as companies make more recruitment and relocation decisions once their financial year begins in earnest.

How have the recent legislative changes in the property market impacted upon your area? There was of course a flurry of activity by purchasers earlier this year, particularly in February and March, by those seekng to avoid paying the extra stamp duty charges that were introduced in April; there were quite a few late nights in the office during that time.

Is there a most frequently requested type of property by tenants looking to rent in the local area? Since the beginning of the year we have been experiencing higher demand than usual for affordable properties at the lower end of the market, with many tenants searching for good quality, one and two bedroom furnished properties in convenient locations.

What’s been the most significant property trend in your area since you’ve worked here? In the thirteen odd years I have been here the obvious trend has been the steady rise in prices. To put this in perspective, the cost of a two bedroom apartment back in 2003 would have been in the region of £320k; today that same sized apartment would be c.£700k, which demonstrates a pretty solid return on property investment.

What’s been the most significant change to the lettings market since you began working here? Over the last ten years, the drop in corporate demand has been very apparent. Perhaps this is because there is generally more availability within the buy-to-let sector and therefore more competition for landlords competing for the same tenants. Despite the banks and larger institutions not offering such generous relocation packages, rental prices have risen significantly during this ten year period, though not in line with capital increases, which have been exceptional. This reflects in the yields that we would expect to achieve. Ten years ago we would have expected rental yields to be in the region of 5% or more; now a healthy yield is 2.5% - 3%, based on capital cost.

Sum up Pimlico and Westminster for us in just three words: Central, affordable, epic.

Sum up Pimlico and Westminster for us in just three words: Understated, classy, gem. jackson-stops.co.uk/london | facebook.com/JSSLondon | 25


Pimlico & Westminster | sales sales and lettings 020 7828 4050 pimlico@jackson-stops.co.uk @jsslondon

contemporary luxury Warwick Square, SW1V

ÂŁ2,250,000 leasehold

A fully refurbished penthouse apartment, set over three floors, which benefits from a 124 year unexpired lease and peppercorn ground rent. Kitchen; reception; three double bedrooms; three bathrooms. Views of prime central London from the rear and views down the length of Warwick Square to the front. EPC - N/A

26 | jackson-stops.co.uk/london | facebook.com/JSSLondon


0118 932 0828

www.aji.co.uk Creating beautiful interiors from concept to completion


Pimlico & Westminster | sales sales and lettings 020 7828 4050 pimlico@jackson-stops.co.uk @jsslondon

panoramic pied Ă  terre

Grosvenor Road, SW1V

ÂŁ1,600,000 leasehold

A contemporary apartment on the ninth floor of a modern riverside development with parking. Kitchen; dual-aspect, split-level reception room with far reaching views and floor to ceiling windows; two bedrooms; master en suite; additional family bathroom; offered with vacant possession. EPC - C

28 | jackson-stops.co.uk/london | facebook.com/JSSLondon


A collection of 37 studio, one and two bedroom loft apartments in a Victorian warehouse conversion situated on a quiet road opposite Vauxhall Park. Each apartment has been meticulously designed with the vision of creating a series of homes to complement the neighbouring glass towers which are beginning to dominate the skyline. Embassy Works seeks to offer the very best in contemporary interior design and smart home technology whilst retaining a genuine sense of individuality, with period features and exposed brickwork. London is one of the world’s most exciting cities and with Vauxhall Station just 300m away, Embassy Works puts the entire Capital within easy reach. Located in Zone 1, Vauxhall Station is serviced by London Underground’s Victoria Line, offering a quick connection into London’s West End. Mainline Rail offers frequent services into London Waterloo (4 minutes) or further out down the South West corridor into Surrey and beyond. Vauxhall Bus Station is serviced by eleven buses including three which operate a 24-hour service.

FINAL SIX APARTMENTS NOW READY TO VIEW Studios from £450,000 One Beds from £575,000 Two Beds from £895,000 Leasehold 999 years

020 7620 3400

newhomes@frankharris.co.uk

Please note all photography is of the show apartment. Prices correct at time of going to press.

020 7664 6649

newhomes@jackson-stops.com


Pimlico & Westminster | sales sales and lettings 020 7828 4050 pimlico@jackson-stops.co.uk @jsslondon

communal gardens and a porter

Millbank, SW1P

ÂŁ595,000 share of freehold A first floor apartment overlooking the River Thames with access to private communal gardens to the rear. Currently configured as a studio, with potential to create a one bedroom apartment; separate raised sleeping area; floor to ceiling windows; building porter. EPC - F 30 | jackson-stops.co.uk/london | facebook.com/JSSLondon


pay less Stamp Duty by taking on a property that needs restoration The rapid increase in the rate of SDLT (Stamp Duty) paid on the purchase of a house has turned what was once a relatively benign tax into an increasingly hot topic. In paying less for a property to take account of any restoration work required it obviously means there is less Stamp Duty to pay upon the transaction. The added benefit is that there is a greater chance of enhancing the value of the property and having it decorated and appointed to meet your own particular style and requirements. By taking on the restoration of a Grade II* building there are additional challenges to consider, but, in general, Listed Building Consent is required only where alterations are being made and not for like for like repairs. The rewards are not only financial; there is the satisfaction of securing the future of part of England’s built heritage so that it is fit, not only for 21st century living, but also for future generations to enjoy. This was the approach taken by the owners of Fiddler’s Croft some fifty years ago when they purchased the property and today it once again needs restoration and to be brought up to date. The house sits on the edge of the village of Little Hadham in Hertfordshire. It is Listed Grade ll* and dates from the early 17th century with later additions. The accommodation is flexible and includes three reception rooms, a master bedroom with en suite bathroom, three or four further bedrooms, a family bathroom, garage and outbuildings. The house is full of character with decorative plaster work, exposed timbers and period detail. It is set in just under two and a half acres and surrounded by farmland. Fiddler’s Croft is within easy reach of the excellent schools in Bishop’s Stortford and good commuting to London. Guide price £995,000 Dawn Carritt Director, Country Houses & Estates Office, Mayfair 020 7664 6646 london@jackson-stops.co.uk jackson-stops.co.uk/country

jackson-stops.co.uk/london | facebook.com/JSSLondon | 31


Pimlico & Westminster | lettings sales and lettings 020 7828 4050 pimlico@jackson-stops.co.uk @jsslondon

a perfect situation

Westmoreland Terrace, SW1V

£1,450 per week fees apply*

A recently refurbished family home on the edge of the Pimlico ‘Grid’ and within easy reach of Victoria (0.5 miles) and Sloane Square (0.7 miles). Two reception rooms; eat-in kitchen with separate utility room; master suite; four further bedrooms; study; roof terraces; courtyard garden; unfurnished. EPC - F

32 | jackson-stops.co.uk/london | facebook.com/JSSLondon


Chartered Surveyors & Property Consultants

Leasehold Enfranchisement Do you own a leasehold property? If so, did you know that you are probably entitled to a 90 year lease extension or you could even join together with your neighbours and purchase the freehold of the building? With over 40 years experience in this specialist area, we have all the necessary expertise to guide you through the process. Please contact Tom Hutchinson FRICS or James Rangeley MRICS to discuss.

COMMERCIAL

Regulated by RICS

> LANDLORD & TENANT | INVESTMENT & ASSET MANAGEMENT | COMMERCIAL AGENCY | DEVELOPMENT CONSULTANCY JSS Egerton 17c Curzon Street London W1J 5HU 020 7664 6648 admin@jssegerton.com jssegerton.com


Pimlico & Westminster | lettings sales and lettings 020 7828 4050 pimlico@jackson-stops.co.uk @jsslondon

porter and parking Artillery Mansions, SW1H

£800 per week, fees apply* A first floor flat (with lift) in a popular and well located mansion block just 0.2 miles from St. James’s Park underground station.

Reception room; kitchen; two double bedrooms; two bathrooms; porter; parking; furnished. EPC - B

34 | jackson-stops.co.uk/london | facebook.com/JSSLondon


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Pimlico & Westminster | lettings sales and lettings 020 7828 4050 pimlico@jackson-stops.co.uk @jsslondon

Egerton House, SW1V

ÂŁ450 per week, fees apply*

A fully refurbished, second floor apartment (with lift) in a well maintained purpose built block, c.0.2 miles to Pimlico underground station and c.0.4 miles to Victoria station.

fit for purpose Reception room; open-plan kitchen/ dining area; master bedroom; bathroom; study/sleeping area; lift; furnished or unfurnished. EPC - E

36 | jackson-stops.co.uk/london | facebook.com/JSSLondon


International | international sales 020 7828 7387 international@jackson-stops.co.uk jackson-stops.co.uk/international @JacksonStopsInt

A castle dating from the early 1900s. Overlooking the marina, four floors with tower, twelve bedrooms and large roof terrace. Beautifully manicured gardens of 6,770sqm, c.1.5 acres.

Liguria, Italy â‚Ź11,250,000

local knowledge on an international scale To discuss your international property requirements, please contact Annabel Smith on 020 7828 7387 or international@jackson-stops.co.uk

Sotogrande, Spain â‚Ź2,200,000 A uniquely-designed villa situated between the Valderrama and Almenara golf courses. Laid over three floors with feature hardwood beams and double glazing, two stone fireplaces, two fitted kitchens, three reception rooms and six en suite bedrooms.


jacks

jackson-stops.co.uk/london

8.3%

Mayfair

Average price of property in the City of Westminster as of March 2016*

jackson-stops.co.uk/london

99%

Take a stroll through the streets of Mayfair on a sunny afternoon and it’s easy to understand why this spectacular area of London continues to lure great numbers of wealthy global citizens, with the outstanding educational, business and recreational opportunities it provides. Our newly launched exclusive search and acquisitions department, JSS Private Client, is based in Mayfair and works hard to source perfect homes for clients who have an exacting set of requirements. In addition to introducing stunning properties to clients which are available ‘off market’, we pride ourselves on providing experienced, wellresearched local knowledge that proves so valuable to clients before, during and after their decision-making process. As the global economy remains fragile in many respects, Mayfair retains its place on the international stage as a settled, ‘safe haven’ for those wishing to invest and live safely in a beautiful part of the world. Do get in touch to discuss your own property requirements. 38 | jackson-stops.co.uk/london | facebook.com/JSSLondon

Rental values in Mayfair and St. James’s averaged £1,190 per week for flats in Q1 2016** 48% of properties let achieved more than £1,000 per week in Q1 2016**

Source: *Land Registry Source: ** LonRes

jackson-stops.co.uk/london jackson-stops.co.uk/london

Mayfair sales and lettings 020 7664 6644 mayfair@jackson-stops.co.uk @jsslondon

Average price increase in the City of Westminster from March 2015 to March 2016*

£1,064,308

Percentage by which this average property price is higher than the average property price across all other London boroughs*

£1,190 pw flats

£1,000 pw


QA

Name: Guy Kelsey Position: Sales & Acquisitions Manager, prime central London How is the sales market performing in your patch at the moment? When assessing Mayfair it is impossible to look at the local market in isolation from the global picture, which has certainly provided its fair share of challenges in recent times. Whilst there remains an air of caution from foreign and domestic purchasers alike, we have also had the impact of increased stamp duty levels to contend with. That said, sales are still being made with the right buyer, at the right price. How have the recent legislative changes in the property market impacted upon your area? The new legislation has made people stop and think - there haven’t been too many impulse buys in recent months. Many purchasers are still unclear as to what the cost implications are even though the new laws are in place. It goes without saying that we are here to provide informed advice and information.

Name: Camilla Molyneux MARLA Position: Manager, Mayfair Lettings How is the lettings market performing in your patch at the moment? This is always the busiest time of the year for us in Mayfair and 2016 has been no exception; it marks the beginning of the period when we experience high demand from prospective tenants looking to find a property in time for the summer. Is there a most frequently requested type of property by tenants looking to rent in the local area? There is always high demand for well proportioned, two bedroom apartments in portered buildings with lift access. Equally, we find one bedroom apartments are always popular with single occupants seeking a central pied à terre.

What’s been the most significant property trend in your area since you’ve worked here? We have seen a large influx of Indian buyers looking to purchase in the area.

What’s been the most significant change to the lettings market since you began working here? Since I started working in Mayfair over three years ago I have noticed a marked change in the tenant profile; the average age of tenants is becoming younger and Mayfair, with all that is has to offer, has become increasingly popular with youthful high net worth individuals from around the globe.

Sum up Mayfair for us in just three words: Magnificent, beautiful, luxe.

Sum up Mayfair for us in just three words: Multicultural, luxurious, historical.

Guy Kelsey Sales & Acquisitions Manager, prime central London Camilla Molyneux MARLA Manager, Mayfair Lettings

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Mayfair | sales sales and lettings 020 7664 6644 mayfair@jackson-stops.co.uk @jsslondon

luxurious convenience

40 | jackson-stops.co.uk/london | facebook.com/JSSLondon

South Audley Street, W1K

ÂŁ5,495,000 leasehold

A newly refurbished, three bedroom apartment located in the heart of Mayfair.

Reception room; kitchen; master bedroom with en suite bathroom; second double bedroom; further single bedroom/study; family bathroom; guest w/c; underfloor heating; i3 touch screen thermostat system, wireless lighting control system, music system. EPC - C


For more information 020 7610 9933 studio@dowlingjonesstone.com www.dowlingjonesstone.com

CGI

A N I M AT I O N

PHOTOGRAPHY


Mayfair | sales sales and lettings 020 7664 6644 mayfair@jackson-stops.co.uk @jsslondon

Royal Albert Hall in sight

Albert Hall Mansions, SW7

ÂŁ1,350,000 leasehold

A one bedroom apartment on the raised ground floor of a mansion block; measuring c.1000sqft, with views of the Royal Albert Hall. Reception room; kitchen; bedroom; bathroom; 24 hour porter. EPC - N/A

42 | jackson-stops.co.uk/london | facebook.com/JSSLondon


sold recently, a small selection from our Chelsea, Holland Park, Mayfair and Pimlico offices Please contact your local Jackson-Stops & Staff office if you would like your property to be a part of our continuing success. Chelsea 020 7581 5881

Holland Park 020 7727 5111

Mayfair 020 7664 6644

Pimlico 020 7828 4050

jackson-stops.co.uk/london | facebook.com/JSSLondon | 43


Mayfair | lettings sales and lettings 020 7664 6644 mayfair@jackson-stops.co.uk @jsslondon

Lowndes Square, SW1X

ÂŁ2,750 per week fees apply*

A split level, four bedroom apartment situated on the third and fourth floor (with lift) of a period building on a prestigious garden square in Knightsbridge. Entrance hall; kitchen/dining room; reception room; guest w/c; study; master bedroom with en suite; three further bedrooms; bathroom and shower room. EPC - E

on the square 44 | jackson-stops.co.uk/london | facebook.com/JSSLondon


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Mayfair | lettings sales and lettings 020 7664 6644 mayfair@jackson-stops.co.uk @jsslondon

Hertford Street, W1J

ÂŁ1,000 per week fees apply*

A recently refurbished one bedroom apartment located on the first floor (with lift) of an exclusive portered building close to Green Park. Reception room; dining room; separate kitchen; guest w/c, master bedroom with en suite bathroom. EPC - TBC

green living

46 | jackson-stops.co.uk/london | facebook.com/JSSLondon


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Mayfair | lettings sales and lettings 020 7664 6644 mayfair@jackson-stops.co.uk @jsslondon

a close Bond

Maddox Street, W1S

ÂŁ900 per week, fees apply*

A two bedroom split level apartment located close to Bond Street and Oxford Circus underground. Open plan kitchen/ reception room and separate dining room to the first level; master bedroom with en suite bathroom; further double bedroom and separate shower room to top level. EPC - C

48 | jackson-stops.co.uk/london | facebook.com/JSSLondon


Destined to create the world’s most beautiful bathrooms

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To view more properties, please visit jackson-stops.co.uk/london

Valentine Place, London, SE1 by Crest Nicholson Please contact newhomes@jackson-stops.com for further details


JSS Homepage - Central London - Issue 7