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Sales / 020 7486 5655 Lettings / 020 7486 5982 Email / enquiry@manors.co.uk Visit / manors.co.uk

Looking for pedigree in property? Welcome to the April 2014 edition of Manors’ London property market update. Properties for sale

Properties to rent

The following price analysis summarises advertised homes for sale in London’s W1 postcode as at 1st April 2014 in order to provide an indication of current prices in Mayfair, Marylebone and surrounds*.

The following rental price analysis summarises advertised rents for homes to let in London’s W1 postcode as at 1st April 2014*. Summary of properties for rent in W1

Average price of properties for sale in W1 – £3,175,515

Total properties for rent in W1

Property prices in W1 by number of bedrooms

423

Average property rents in W1

£5,970 pcm

Median rent

£3,683 pcm

Property rents in W1 by number of bedrooms Average price £997,365

One bed

No. of properties 943

Two bed

£1,937,143

Two bed

1,270

£5,799 pcm

£4,008 pcm

Three bed

£3,728,545

Three bed

518

£10,093 pcm

£8,233 pcm

Four bed

£5,937,244

Four bed

154

£13,529 pcm

£11,483 pcm

Five bed

£8,675,000

Five bed

53

£18,302 pcm

£16,467 pcm

No. of properties 15

Average rent £1,203 pcm

Median rent £997 pcm

2,798

£5,974 pcm

£3,844 pcm

511

£6,054 pcm

£3,077 pcm

Property prices in W1 by type

Property rents in W1 by type

Average price Flat £2,749,008

Room

Terraced

Flat

Property rents in W1 by number of bedrooms

£14K

£12m

£12K

£10m

£10K

£0m

£0K

*Source: Home.co.uk Property Search Engine

For information on London investment, contact Manors: +44 (0)20 7486 5655

FIVE BED

£2K

FOUR BED

£4K

£2m

THREE BED

£4m

TWO BED

£6K

SEMI-DETACHED

£8K

£6m

TERRACED

£8m

PROPERTY PRICE

Property rents in W1 by type

£16K

MEDIAN RENT

£14m

FLAT

FIVE BED

£18K

AVERAGE RENT

£16m

FOUR BED

THREE BED

TWO BED

ONE BED

AVERAGE PRICE

Property prices in W1 by type

PROPERTY RENT

HOUSE

£18m

House

ONE BED

Property prices in W1 by number of bedrooms

£6,294,750 £10,783,333

Median rent £2,513 pcm

FLAT

Semi-detached

Average rent £3,527 pcm

ROOM

One bed

3,885

Properties for rent in W1 listed in the last 14 days


Sales / 020 7486 5655 Lettings / 020 7486 5982 Email / enquiry@manors.co.uk Visit / manors.co.uk

Hot Property To Let

TO LET

George Street Marylebone W1 £6,000 pw

North Audley Street Mayfair W1 £3,250 pw

George Street Marylebone W1 £1,795 pw

Portman Mansions Chiltern Street W1 £850 pw

An absolutely stunning 5 bedroom 4 bathroom interior designed lateral apartment extending to approximately 2,750 sq ft. The apartment is on the 6th floor of a prestigious portered block (with lift) and features contemporary interiors, state-of-the-art multimedia facilities, a hi-tech kitchen, air conditioned bedrooms and two private balconies. More

A stunning and very spacious 4 bedroom 4 bathroom apartment on the first floor of this highly regarded portered block (with lift) in the heart of Mayfair. Moments from Bond Street and Marble Arch Underground Stations, the flat offers generous accommodation, excellent storage, wooden flooring and neutral decoration throughout. More

A well designed 2 double bedroom 2 bathroom apartment on the first floor (with lift) of a popular block moments from Oxford Street and Bond Street Station. The property boasts a contemporary interior, air cooling, communal gardens and 24-hour porterage. More

A spacious apartment in a prestigious mansion block near Marylebone High Street, comprising a double reception/dining room, kitchen, spacious en suite master bedroom and 2nd double bedroom and bathroom. Other benefits include a residents’ gym & sauna, 24-hr porterage, CCTV and video entry system. Ideally located close to Regent’s Park and Baker Street Underground Station. More

Great Cumberland Place Marylebone W1 £795 pw

Brendon Street Marylebone W1 £625pw

Porchester Place Hyde Park W2 £525 pw

Gloucester Place Regent’s Park NW1 £450 pw

A newly refurbished 2 bedroom 2 bathroom apartment on the top (9th) floor of this well regarded portered block with lift. Moments from Marble Arch Tube and Hyde Park, the flat features contemporary fixtures and fittings, neutral decoration and a south-facing balcony with stunning views. More

A truly unique 1 bedroom split level period conversion with its own private garden within walking distance of Marylebone High Street. The architecturally designed property is set over three levels and is presented in immaculate condition throughout. Early viewing recommended. More

A fantastic 2 double bedroom 2 bathroom apartment in a popular private portered block (with lift) convenient for Paddington Station and the Heathrow Express, Edgware Road and Marble Arch Underground Stations, along with Hyde Park. The flat has a modern kitchen, neutral decoration and a lovely view of the neighbouring garden square. More

A delightful furnished 1 bedroom apartment in a secure portered block, featuring wooden flooring throughout and a generous living room and bedroom. The flat is moments from Baker Street Underground Station, Marylebone Station and Regent’s Park. Early viewing recommended. More

For information on London investment, contact Manors: +44 (0)20 7486 5655


Sales / 020 7486 5655 Lettings / 020 7486 5982 Email / enquiry@manors.co.uk Visit / manors.co.uk

Hot Property For Sale

FOR SALE

George Street Marylebone W1 £3,950,000

Bryanston Square Marylebone W1 £3,800,000

Wigmore Street Marylebone W1 £3,250,000

Upper Montagu Street Marylebone W1 £2,800,000

An exceptionally spacious 3 bedroom apartment on the second floor of what is arguably Marylebone’s finest residential building, boasting a truly spectacular interior designed by Base Interior and 24-hour porterage. The property is opposite Bryanston Square and moments from Hyde Park. More

A stunning 3 bedroom 3 bathroom ground floor apartment within an elegant Georgian property. The flat is situated at the rear of the building and benefits from 24-hour porterage, an underground parking space and a private terrace. More

A unique 2 bedroom apartment set over the entire first floor of this superb late 19th century building. This breathtaking home features high ceilings and large floor to ceiling south-facing windows. Set at the top of St Christopher’s Place, the property is moments from Bond Street Underground and world-renowned Selfridge’s. More

A rare opportunity to acquire a 5 bedroom Grade II-listed freehold house, currently divided into three flats. The 5-storey property is a short walk from Marylebone Village and Regent’s Park and extends to approximately 2,400 square feet. More

George Street Marylebone W1 £1,999,950

Gilbert Street Mayfair W1 £1,750,000

Lancaster Terrace Hyde Park W2 £1,650,000

Gloucester Place Regent’s Park NW1 £1,600,000

A well designed 2 double bedroom 2 bathroom apartment in a brand new luxury development moments from Portman Square and Selfridge’s. The property boasts a contemporary interior, air cooling, communal gardens, 24-hour porterage and comes with the rare bonus of an underground parking space. More

A stunning interior designed 2 double bedroom apartment set within a sought-after period building in Mayfair. The property is moments from Bond Street Underground Station and Oxford Street. More

A fantastic 3 bedroom 3 bathroom apartment on the 4th floor of this highly regarded block moments from Hyde Park and Lancaster Gate Underground. With a bright and spacious interior and the added bonus of a balcony, this air conditioned apartment is expected to sell quickly. More

A contemporary south west facing 2 bedroom 2 bathroom penthouse apartment on the ninth floor (with lift) of a popular art deco 1930s’ mansion block close to Baker Street Underground Station and Regent’s Park. A particular feature of the property is its roof terrace with spectacular views across London. More

For information on London investment, contact Manors: +44 (0)20 7486 5655


Sales / 020 7486 5655 Lettings / 020 7486 5982 Email / enquiry@manors.co.uk Visit / manors.co.uk

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Selling prices in Marylebone continue to soar Dominique Zarbhanelian, Residential Sales Manager at Manors, provides an update on the residential property market in Marylebone and surrounding areas as Q1 2014 draws to a close.

After an incredibly buoyant 2013, some wondered whether the residential property market in Marylebone could really continue at such breakneck speed, however the first quarter of 2014 has been nothing less than frenetic. Each sale seems to be breaking a previous record and as we move into spring the pace looks set to continue.

“Manors is currently experiencing a particularly strong demand for high-end turnkey properties.”

And, it’s not just property in W1 that’s flying off the shelves. We recently achieved £2,338 per square foot for an apartment on a 70-year lease in W2 which needed complete refurbishment. This was approximately £400 more per square foot than any other property has ever achieved in the area, with the exception of The Lancasters (a stunning redevelopment of 15 stucco-fronted houses overlooking Hyde Park, now fully sold). Manors is currently experiencing a particularly strong demand for high-end turnkey properties and we also have many developer clients looking for sites with redevelopment potential, although such opportunities are not easy to come by. We’ve seen a steady supply of properties coming onto the market since January, but as there’s currently not nearly enough property available to meet demand, and because we anticipate things getting much busier in the coming months, I wonder if there has ever been a better time to sell? If you’d like to arrange a complimentary noobligation market appraisal of your property, please call me on 020 7486 5655.

Dominique Zarbhanelian Residential Sales Manager NB: The information contained in this article is solely the opinion of Manors and should not be relied upon when making a decision to purchase, sell or let a property, especially given that the property market can go down as well as up. If in doubt, professional third party advice should always be sought.

For information on London investment, contact Manors: +44 (0)20 7486 5655

Last month Manors sold an exquisite first floor lateral apartment for 21% more per sq ft than ever been achieved in Connaught Village.

Marylebone living The spring/summer issue of mlife, Manors’ property and lifestyle magazine focusing on Marylebone and surrounding areas, was published in March. Packed with interesting features and useful information about living in central London, the magazine also showcases some of the area’s premier properties for sale and to let. You can read the latest issue online at: www.manors.co.uk/about-us/magazine.


Sales / 020 7486 5655 Lettings / 020 7486 5982 Email / enquiry@manors.co.uk Visit / manors.co.uk

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Residential rental review: January to March 2014 Trudy Younger, Residential Lettings Manager at Manors, takes a look at how the central London lettings market has performed during Q1 2014.

After a hectic 2013 on the rentals front, the first quarter of 2014 proved somewhat less frenetic. The volume of enquiries was lower than last year and in general housing stock levels are high in the rental sector. As footfall is down, if landlords want to minimise a void period, now more than ever it’s important to ensure that properties are well-maintained and presented in immaculate order, as well as being priced realistically.

“We have seen no significant increase in rental prices, however prices in Marylebone are stable ”

NB: The information contained in this article is solely the opinion of Manors and should not be relied upon when making a decision to purchase, sell or let a property, especially given that the property market can go down as well as up. If in doubt, professional third party advice should always be sought.

For information on London investment, contact Manors: +44 (0)20 7486 5655

However it’s not all doom and gloom at Manors. Although enquiry levels are down, the enquiries we have had have been from serious tenants who are actively looking for properties to rent across all price brackets. One bedroom apartments are still relatively scarce and these are in particular demand at the moment. We have seen no significant increase in rental prices, however prices in Marylebone are stable with rents for renewal tenancies remaining the same or increasing by around 4% in line with the retail price index. At the top end of the market, we have successfully agreed a significant number of high value leases with durations of two or three years; these properties have been let to both high net worth individuals and corporate clients. If you have a property you are thinking of letting in 2014, please call me on 020 7486 5982 to arrange a complimentary no-obligation market appraisal. I look forward to meeting you.

Trudy Younger Residential Lettings Manager

Over 22% of tenants placed by Manors in Q1 2014 rented properties costing in excess of £2,000 per week.

A warm welcome to our new Property Manager We’re delighted to announce that Georgina Mason has joined Manors’ lettings team as Property Manager. Georgina has a great deal of experience in lettings and property management in both London and Ireland since she began specialising in the sector in 2002. She has a Diploma in Property Studies from the Irish Auctioneers & Valuers Institute in Dublin and is currently studying for a National Federation of Property Professionals’ qualification. Georgina, who joins us from Galliard Residential, is both thorough and efficient and thrives on the wide variety of challenges she faces managing some of London’s premier properties in Marylebone and surrounding areas. In her spare time, she enjoys spending time with her family, reading, swimming and watching rugby.


Sales / 020 7486 5655 Lettings / 020 7486 5982 Email / enquiry@manors.co.uk Visit / manors.co.uk

Marylebone chosen as one of the best places to live in Britain The Sunday Times picked Marylebone as one of the best places to live in Britain in its recent supplement.

Spruce up for summer Spring is in the air and with it comes an increase in demand for properties for sale or to let with a balcony, garden or terrace. At this time of year, it’s important for landlords and vendors to maximise the appeal of their highly-prized outside spaces by having a general tidy up. Any grass should be neatly cut, flowerbeds tended and dead leaves and other remnants of autumn and winter swept away. The addition of some potted plants can do wonders for the dullest of outside spaces, turning a drab, neglected corner into a desirable feature, whilst spring flowers create a cheerful and positive impression for viewings.

“It’s important for landlords and vendors to maximise the appeal of their highly-prized outside spaces.” In order to achieve the optimum price for your property, it’s well worth embracing your inner Monty Don and spending an hour or two sprucing up your garden to ensure your property views as well outside as it does in.

For information on London investment, contact Manors: +44 (0)20 7486 5655

According to the feature, which was published on 16th March 2014, “Prices here [Marylebone] rose faster than anywhere else in prime central London in the second half of 2013.” The area’s attraction was attributed to “Lower prices than in Mayfair or Knightsbridge (by 40%), the architecture (from Georgian to art-deco blocks) and the villagey vibe, not to mention Regent’s Park.” The article went on to highlight the area’s many speciality shops and restaurants, saying “Marylebone’s fashionable reputation dates back to the opening of The Conran Shop in 1998; Daunt Books symbolises the high street’s independent feel; the new Chiltern Firehouse offers boutique-hotel glamour; La Fromagerie and The Ginger Pig provide added taste; and the big eating-out trend this year is burger joints (Tommi’s and Meat Liquor).” On the subject of property prices, it was reported that “Prices range from £600,000 for a one-bedroom flat near Edgware Road to between £4m and £12m for grand apartments on Portland Place. Popular schools include Wetherby Prep, alma mater of Wills and Harry (a secondary will open in 2015), and St Marylebone CE for girls.” In summary, according to The Sunday Times, “Marylebone is prime central London without the oligarch bling – friendlier and funkier than Mayfair or Chelsea.” Given such high praise, it’s no wonder we’re experiencing unprecedented demand from purchasers.

Rightmove publishes handy property guide Leading property portal, Rightmove, published its second ‘Little Blue Book’ at the end of last year amid claims by the Governor of the Bank of England that a UK property market recovery had well and truly taken hold. Indeed, rising prices, the ‘threat’ of a bubble, evidence of a two or even three speed market and a Help to Buy scheme dramatically brought forward have all kept the newspaper headline writers busy in recent months. Rightmove’s ‘Little Blue Book’ pulls together a range of market data and research to help you form your own opinion of the market. According to the guide, asking prices for two bedroom flats in central London in Q3 2013 were 7% higher than in the same period in 2012, whilst rents of two bedroom properties were down by 4% on average across inner London. However, if Manors’ experience is anything to go by, Marylebone seems to be bucking the trend as rental prices in the area have generally been holding firm or increasing in line with the Retail Price Index, whilst selling prices were up significantly in excess of 7%. You can find out more about the ‘Little Blue Book’ by visiting: www.rightmove.co.uk/news/little-blue-book

7%

+++

Selling prices go up in Marylebone.

Manors Market Update April 2014  
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