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

Manors’ London Market Review July 2014 Properties for sale

Properties to rent

The following price analysis summarises the asking prices of advertised homes for sale in London’s W1 postcode as at 30th June 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 30th June 2014.*

Summary of properties for sale in W1

Summary of properties to rent in W1

Total properties for sale in W1

740

Total properties for rent in W1

Properties for sale in W1 listed in the last 14 days

83

Properties for rent in W1 listed in the last 14 days

605

£3,072,182

Average property rents in W1

£5,586 pcm

Median rent

£3,445 pcm

Average price of properties for sale in W1

3,838

Property prices in W1 by number of bedrooms One bed

Average price £1,101,686

Property rents in W1 by number of bedrooms

Two bed

£1,939,124

One bed

No. of properties 1,201

Three bed

£3,551,987

Two bed

1,340

£5,633 pcm

£3,792 pcm

Four bed

£5,570,124

Three bed

511

£9,723 pcm

£7,800 pcm

Five bed

£8,016,562

205

£11,807 pcm

£10,833 pcm

65

£16,354 pcm

£14,083 pcm

No. of properties 18

Average rent £1,075 pcm

Median rent £1,083 pcm

3,258

£5,565 pcm

£3,467 pcm

488

£5,452 pcm

£2,856 pcm

Four bed Five bed

Average rent £3,140 pcm

Median rent £2,383 pcm

Property prices in W1 by type Room

Semi-detached

**£5,000,000

Flat

Detached

**£3,500,000

House

£18m

Property rents in W1 by number of bedrooms

£14K

£12m

£12K

£10m

£10K

£0K

* Source: Home.co.uk Property Search Engine. ** Only one property was on the market in this category.

For information on London investment, contact Manors: 020 7486 5655

FIVE BED

£0m FOUR BED

£2K

THREE BED

£4K

£2m

TWO BED

£4m

DETACHED

£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

ONE BED

Property prices in W1 by number of bedrooms

PROPERTY RENT

HOUSE

£6,872,908

FLAT

Terraced

Property rents in W1 by type

ROOM

Average price Flat £2,648,864


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

Hot Property To Let

TO LET

Upper Montagu Street Marylebone W1 £2,500 pw

George Street Marylebone W1 £1,795 pw

Portsea Place Hyde Park W2 £1,300 pw

Portman Square Marylebone W1 £1,295 pw

Exceptional 5 storey unfurnished Georgian town house in a soughtafter Marylebone location. The spacious home features 4 bedrooms and 3 bathrooms and was completely renovated in 2011 to the highest of standards. With spacious entertaining space, a stunning Smallbone kitchen and a private patio garden, early viewing is recommended. More

Newly refurbished 2 bedroom, 2 bathroom flat on the 1st floor (with lift) of a purpose-built portered building. The spacious property features an open plan kitchen/reception with wooden floors to the main areas. Other benefits include comfort cooling, a 24 hour concierge and access to the communal garden. The flat is a short walk to Oxford Street and Bond Street tube. More

Newly refurbished interiordesigned 5th floor 3 double bedroom apartment minutes from Marble Arch and Hyde Park. The spacious apartment features an open plan reception/dining/ kitchen, 2 en suites and a further shower room, hardwood flooring and 24-hr porterage. Available immediately. More

Contemporary 3 bedroom apartment on the 5th floor (with lift) of this popular portered building. This stunning property boasts 2 bathrooms, wooden floors to the main areas and is a short walk from Oxford Street and Marble Arch Underground Station. Available furnished or unfurnished. More

Lancaster Terrace Hyde Park W2 £1,000 pw

Hyde Park Square Hyde Park W2 £995 pw

Fitzhardinge House Marylebone W1 £595 pw

Montagu Mansions Marylebone W1 £595 pw

Stunning completely refurbished 3 bedroom apartment on the 4th floor of a popular block seconds from Hyde Park and moments from Lancaster Gate, Marble Arch, Oxford Street and Connaught Village. The apartment is extremely well laid out and features bright and airy interiors, a balcony, west-facing views and air conditioning. Early viewing is strongly advised. More

Stunning recently refurbished loft-style duplex penthouse with 3 bedrooms and 2 bathrooms. The bright apartment is set within a stucco-fronted Grade II listed building, close to Hyde Park, Lancaster Gate, Marble Arch and Paddington Station for the Heathrow Express. Furnished/ unfurnished. More

Bright and spacious 1 bedroom apartment on the 5th floor (with lift) of this popular 24-hour portered building. The property is fully furnished and benefits from a separate kitchen. Ideally situated within walking distance of bustling Oxford Street, early viewing is strongly advised. More

Spacious 1 double bedroom mansion flat, furnished to a high standard and situated on a quiet residential road moments from Baker Street tube and Marylebone Village. Features include a dual aspect reception room, wellequipped kitchen with breakfast area, and marble bathroom with bath and separate shower. More

For information on London investment, contact Manors: 020 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 £6,000,000

Clarendon Place Hyde Park W2 £5,250,000

Portman Close Marylebone W1 £3,999,999

Seymour Place Marylebone W1 £3,500,000

Unique, bright and extremely spacious 4th floor apartment featuring 4/5 double bedrooms and 2/3 reception rooms in a prestigious portered building, with views over Bryanston Square. The 2,673 sqft / 248.3 sqm apartment needs some updating but benefits from a stunning new kitchen and two luxurious bathrooms. Share of freehold. More

Truly stunning 4 bedroom, 3 bathroom period home with 3 reception rooms, meticulously refurbished to a high specification. This extensive family home is conveniently situated on the corner of Clarendon Place and Hyde Park Garden Mews and comes with a large private roof terrace offering excellent outside entertaining space and a garage. Freehold. More

Spacious 3 bedroom, 3 bathroom apartment on the 3rd floor (with lift) of an impressive new block. The property features wooden floors, comfort cooling, 24-hour concierge, access to the communal garden and a rare underground parking space. A short walk from Marylebone High Street, Oxford Street and Bond Street Underground Station. Leasehold. More

Stunning 3 double bedroom interior designed apartment on the 2nd floor of an elegant mansion block. This sought-after property is moments from Park Lane and features a double reception room, 3 en suite bathrooms and a fully fitted kitchen/breakfast room. It comes with a 988 year lease + share of the freehold. More

Chiltern Street Marylebone W1 £2,295,000

Bryanston Square Marylebone W1 £2,295,000

Portsea Place Hyde Park W2 £1,850,000

Seymour Place Marylebone W1 £1,400,000

Magnificent 2/3 bedroom, 2 bathroom 5th floor apartment (with lift) in a popular portered block with residents’ gym. The bright apartment offers spacious accommodation with high ceilings throughout and is conveniently located within a short walk of Marylebone Village, Regent’s Park and Baker Street Underground Station. Leasehold. More

Immaculate 4 bedroom, 3 bathroom apartment set on the raised ground floor of a small prestigious portered block on this desirable garden square. The flat is in a fantastic location in the heart of Marylebone and benefits from an abundance of natural light, a private patio garden, air conditioning and electric blinds. Leasehold. More

Spectacular interior designed 3 bedroom, 2 bathroom apartment within a popular Art Deco block with concierge and lift. The flat features 1,200 sq ft of living accommodation and a balcony with views over Connaught Square. The property is ideally located close to Hyde Park, Marble Arch and Connaught Village. Leasehold. More

Modern 3 bedroom lateral apartment located on the 2nd floor of an attractive portered red brick mansion block on the west side of Marylebone. Ideally located close to Portman and Marylebone villages, along with Oxford Street, the green expanse of Hyde Park, and Marble Arch, Edgware Road and Marylebone stations. Leasehold. More

For information on London investment, contact Manors: 020 7486 5655


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

Residential property prices in Marylebone remain steady Dominique Zarbhanelian, Residential Sales Manager at Manors, provides an update on the residential property market in Marylebone and surrounding areas as Q2 2014 draws to a close.

After the unprecedented price increases witnessed in Marylebone and surrounding areas over the last few years, the second quarter of 2014 saw residential property prices begin to level out, with more modest gains reported than in recent months. There is still not enough housing stock to meet current demand, but there are also fewer buyers around. Buyers are now a little more cautious and starting to bide their time (relatively speaking) and are not rushing headlong into decisions in quite the same way they were six months ago. That said, at Manors we always tend to be quieter between Easter and the end of May because of all the bank holidays, so this is not an unusual situation for this time of year. It remains to be seen whether the market will pick up dramatically as we move into the summer months, traditionally a popular time for overseas investors to visit London to acquire a property.

“ The good news is that the current market remains steady with prices holding firm. ”

The good news is that the current market remains steady with prices holding firm and no indications of any downward movement. For example, at Manors we recently achieved an incredible £2,000 per square foot for an unmodernised apartment on Portman Square on a 45-year lease. This equates to £2,445 per square foot on an extended lease, excluding the cost of the refurbishment. Prime Central London remains a firm favourite with overseas investors and currently a staggering 80% of sales through Manors are to such individuals. In particular, we’re experiencing a healthy demand for high-end turnkey properties. We also have many developer clients looking for sites with redevelopment potential, although such opportunities are not easy to come by. If you have a property you’re thinking about selling, now is a good time to do so. Call me today on 020 7486 5655 to arrange a complimentary no-obligation market appraisal. With best wishes

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: 020 7486 5655

Dominique Zarbhanelian Residential Sales Manager

Marylebone living The spring/summer issue of mlife, Manors’ property and lifestyle magazine focusing on Marylebone and surrounding areas is now available to read online at www.manors.co.uk/ about-us/magazine Full of 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. If you’d like to join the mailing list to receive a hard copy of the next issue, please send an email including your name, address and phone number with “mlife” written in the subject line to enquiries@manors.co.uk


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

Brad McDonald, ‘Best Rising Star Chef’ at The Lockhart

Lettings market update Trudy Younger, Residential Lettings Manager at Manors, takes a look at how the central London lettings market has performed during Q2 2014.

At Manors, the first and second quarters of 2014 were relatively calm on the rentals front with prices remaining steady, but things are definitely hotting up as summer fast approaches. This time last year, July, August and September were three of our busiest months and we successfully let one property every 48 hours. Now is an excellent time to consider letting a property as historically competition for properties in W1 and surrounding areas is at its peak over the summer, ensuring the best rents are achieved. We’re finding that more people from the financial sector are choosing Bayswater and Marylebone as their destination of choice when looking for a property to rent, and who can blame them with the excellent range of local shops, restaurants and transport links nearby. We’re currently in urgent need of good quality rental stock to cater for many prospective tenants who have registered with us recently. In particular, we have a significant number of professional singles and couples urgently looking for one bedroom properties at the £400-£500 per week level and two bedroom properties in the £700-£800 per week price bracket.

“ We’re currently in urgent need of good quality rental stock. ” 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: 020 7486 5655

We’re also experiencing a very high demand for good quality high-end three and four bedroom houses and lateral apartments located within portered developments from corporate clients, embassies and families relocating to London, who wish to be close to the excellent schools in W1. This year to date, 73% of landlords who signed up for Manors’ full property management service have tenancies that renewed for second, third or fourth terms. Landlords receive a very comprehensive service from us, ensuring tenants’ safety and keeping their investments well-maintained. Tenants are also reporting high levels of satisfaction with our service. If you have a property you are thinking of letting, Manors is happy to offer you a complimentary no-obligation market appraisal. We can advise you of any necessary work in order to let your property for the optimum price as swiftly as possible, as well as outlining your obligations in relation to safety issues. As part of our letonly service, we can also organise any health and safety certifications for you if required. To book an appointment, please call me on 020 7486 5982.

Marylebone restaurant wins Tatler’s prestigious ‘Restaurant of the Year 2014’ award As the first estate agent to open in Marylebone in the 1970s, Manors has long recognised the area’s massive potential. But even we have been bowled over by the wide range of fantastic new eateries that have opened in this part of London in recent years. And now, less than three months after it opened in February 2014, André Balazs’s new hotel and restaurant, Chiltern Firehouse, won the prestigious accolade of Tatler’s Restaurant of the Year. Located in a stunning red brick fire station in Chiltern Street, Chiltern Firehouse is the domain of head chef Nuno Mendes, previously of Bethnal Green’s Viajante restaurant. Mendes honed his skills in the US and this has clearly influenced his menu which features comfort food such as corn bread, ribs and fried chicken with a twist, served from a large open kitchen in the building’s stunning interior. The restaurant is already proving a magnet for celebrities and Kate Moss, Lindsay Lohan, Sienna Miller, Jimmy Carr and Gordon Ramsay have all been spotted dining there recently. Among other W1 restaurants to feature in Tatler’s awards were: ‘Best Rising Star Chef’ – Brad McDonald of The Lockhart in Seymour Place; and ‘Most Civilised Restaurant’ (Runner Up) – Caffé Caldesi in Marylebone Lane. For a full list of winners and runners up click here

Trudy Younger Residential Lettings Manager


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

‘Summer in the Square’ comes to Portman Square Gardens The exclusive residents-only gardens of Portman Square, directly across the road from Manors’ offices, will be open to all for a series of exciting events throughout July. The ‘Summer in the Square’ series includes live Wimbledon coverage, a summer festival, golf and games in the garden, and a sunset cinema screening of ‘Some Like It Hot’. All events are free to attend and open to all. Food and drink will be available to purchase from a selection of fine food traders to complete the experience. Please note that there is a maximum capacity limit so be sure to arrive early to avoid disappointment.

The Marylebone Summer Fayre 2014 ... a roaring success For further details and a full list of events taking place click here

Facelift planned for Marylebone Tube Station Marylebone Underground Station is in line for a £200,000+ revamp as part of London Underground’s wider tube station improvement programme. Capita has been appointed to carry out the upgrade which we understand is currently at the design stage.

For information on London investment, contact Manors: 020 7486 5655

Residents and visitors alike flocked to Marylebone on Sunday 15th June for this year’s popular Marylebone Summer Fayre. The event featured everything you would expect of a traditional village fête. Food and drink were in abundance, along with music, children’s activities, craft stalls, a farmers’ market and tombola, as well as a huge

dollop of community spirit, one of the things that makes this part of London such a fabulous place in which to live. Organised and run by Howard de Walden Estate, the Fayre was held in support of Kids Company, a charity founded in 1996 to support vulnerable inner-city children.

Market Update July 2014  
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