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CONTENTS

JUNE 2014

BUSINESS & WEALTH 27 | join the club

JENNIFER HILL helps us weigh up our options in terms of private banking and wealth management

32 | LEX VAN DAM ON EQUITIES

Never rely on rumours to inform your investment decisions, they're usually wrong

34 | NICK HUNGERFORD ON INVESTMENTs

When seeking out investment opportunities, one must look beyond the brand

36 | christopher vecchio ON FX

The Euro is travelling down a rocky road, no thanks to the ECB and its seriously flawed strategy

37 | RICHARD JEFFREY ON MACROECONOMICS

Is there a logical argument against increasing interest rates?

8 | CONTENTS


CONTENTS

JUNE 2014 Š AELTC

LIFESTYLE 46 | suit yourself

Do clothes make the man or does the man make the clothes?

80 | HOME: a deco-dent legacy

We celebrate one of the most influential design faces of the 20th century, Eileen Gray

87 | DriVE: A racing certainty

MATTHEW CARTER puts the new Porsche Macan 4x4 through its paces and his conclusion is somewhat surprising

102 | WINE: demystifying the wine of burgundy

JAMES LAWRENCE talks us through the legendary vineyards and adored wines of Burgundy

106 | the suite life

TIFFANY EASTLAND takes a glimpse inside some of the world's most luxurious hotel suites

10 | CONTENTS


CONTENTS

JUNE 2014

FEATURES 40 | fit to burst

Bob Swarup's new book considers how boom and bust is hardwired into humanity

88 | Space racer

Felix Baumgartner takes to the race track in the next chapter of his extraordinary life

113 | war and pieces

This month Sir John Soane's Museum presents an exhibition on the summer of 1814, a time of celebration in Europe

REGULARS 16 50 76 61 80

12 | CONTENTS

| | | | |

the city briefing his style her style collection Home

82 | fitness 84 | play 87 | drive 104 | escape 125 | property


EDITOR'S LETTER

From the

EDITOR In the summer of 1814, London celebrated the signing of the Treaty of Paris. Napoleon had just been exiled to Elba, peace had returned to Europe. Yet 100 years later, the rulers of the countries that had partied in Hyde Park would return to the battlefield as enemies. Two hundred years on, as we commemorate the centenary of the First World War, and with Europe dominating the news once more, we take a timely look back at the affect Napoleon had on one celebrated City figure, distinguished architect Sir John Soane. Turn to page 113 to see how Soane’s fascination with ‘Boney’ influenced his life and impacted his work, a story that can be explored in more detail at Peace Breaks Out!, an exhibition that opens at the Sir John Soane’s Museum on 20 June. Charismatic leader, self-made-man and creator of the Bank of France, Napoleon would have fared-well in the modern-day Square Mile. Another figure with the tenacity to succeed in the City, had he gone into finance rather than freefalling, is supersonic man, and our cover star, Felix Baumgartner. Having skydived 24 miles to Earth as part of the Red Bull Stratos mission, Baumgartner is now seeking thrills of a different kind, hoping to triumph behind the wheel of an Audi R8 LMS Ultra GT3 when he competes in the Nurburgring 24hrs endurance race this month (p. 88). Success in the City means wealth; but what do you do if yours is tied-up in business ventures and illiquid assets? In the era of ultralow interest rates, cash has become dead weight. Unlocking liquidity has become a quest for the Holy Grail. Find out why raising secured debt may be the answer on page 30 and how you can benefit from new opportunities that have arisen in the private banking sector on page 27. “The man of ability takes advantage of everything,” said Napoleon, “and neglects nothing that can give him a chance of success.”

Editor-in-Chief Lesley Ellwood Managing Editor Emma Johnson Deputy Editor Richard Brown Motoring Editor Matthew Carter Collection Editor Annabel Harrison Editorial Assistant Tiffany Eastland Staff Writer Sian Gardiner Senior Designer Daniel Poole General Manager Fiona Fenwick Production Alex Powell Hugo Wheatley Oscar Viney Property Director Samantha Ratcliffe Communications Loren Penney Lucy Jones Head of Finance Elton Hopkins Managing Director Eren Ellwood

PUBLISHED BY

Emma Johnson, managing editor

One Canada Square, Canary Wharf London, E14 5AB T: 020 7987 4320 F: 020 7005 0045 W: rwmg.co.uk

Members of the Professional Publishers Association Runwild Media Ltd. cannot accept responsibility for unsolicited submissions, manuscripts and photographs. While every care is taken, prices and details are subject to change and Runwild Media Ltd. take no responsibility for omissions or errors. We reserve the right to publish and edit any letters. All rights reserved.

On the cover Space Racer

Felix Baumgartner during the Red Bull Stratos Mission. Image courtesy of Zenith Watches, zenith-watches.com

14 | FROM THE EDITOR

Subscriptions: A free online subscription service is available for The City Magazine. Visit the subscriptions page on our website: rwmg.co.uk/subscribe


THE CITY BRIEFING 

The facts, stats, movers, mergers & market news affecting the Square Mile this month WORDS: RICHARD BROWN

FINANCE from AFAR Germany strong as France and Italy shrink

Bucking the trend for widespread stagnation, Germany posted growth of 0.8 per cent in the first three months of this year, double the pace witnessed at the end of 2013. The rest of Europe fared less favourably. France, which accounts for 20 per cent of the euro-zone economy, failed to expand at all, while the Italian, Dutch and Finish economies all reported contractions. German authorities say growth is being driven by domestic demand. EU

Australia hopeful of reducing deficit, as New Zealand eyes surplus

Australia hopes to nearly halve its budget deficit over the next year from $50bn to $30bn. As well as asset sales, the government has announced a combination of tough spending cuts and increased taxes on the rich. While the country emerged relatively unscathed from the financial crisis, a valuable tax revenue stream was lost when the country’s mining boom came to an end. Set to return to a surplus ahead of Australia, is New Zealand, which has benefitted from increased job numbers, above-inflation wage rises and a recent record-breaking export industry. Australasia

Pre-tax-increase spending fuels Japanese growth

A consumer buying spree ahead of an JAPAN increase in sales tax in April, pushed first quarter growth in Japan to an annualised rate of 5.9 per cent, reports the FT. The three year high comes as inhabitants rushed to purchase everything from household appliances to households themselves. The sales tax is aimed is at improving Japan’s huge public debt. Analysts predict GDP to contract by 3.3 per cent this quarter.

16 | THE CITY BRIEFING

Sunday Times Rich List

B

ankers’ bonuses aren’t what they used to be. Or so last month’s Sunday Times Rich List would suggest. While in the six years since the collapse of Lehmans the world’s rich have been getting richer, bankers have been faring less favourably against their commodity-rich counterparts. Britain’s wealthiest hedge fund manager, Alan Howard, may have a fortune of £1.6bn, but that doesn’t even grant him access to the list’s top 50. At the top are industry and finance power-brothers Sri and Gopi Hinduja with combined assets of £11.9bn, followed by mining magnate Alisher Usmanov with

£10.65bn and steel supremo Lakshmi Mittal with £10.25bn. The list’s native contingent relies heavily on property, with the Duke of Westminster (£8.5bn), Earl Cadogen (£4.2bn) and Baroness Howard de Walden making up the richest people born on home soil. One thing not in question is London’s superiority as the undisputed capital of global wealth. The city is home to 24 more billionaires than its nearest rival, Moscow (48), 29 more than New York (43) and almost four times more than Paris (18). London now accounts for almost 10 per cent of the world’s billionaires.

Number of City jobs soars Over the next two years, 15,000 new jobs will be created in the City of London, according to a report published by Oxford Economics. Professional services are expected to account for more than half of the new positions, says The Economic Outlook. Employment growth in the City increased by 24.3 per cent between 2009 and 2013, creating 85,000

new jobs, against just 2.3 per cent across the UK. The Square Mile also has a high level of economic output relative to the size of its workforce. Output per job in the City of London is estimated to be more than 50 per cent higher than in Central London and around three times the UK average. Alcohol consumption likely follows a similar trend.


NEWS

 Reader’s Corner  The Economics Of Success: 12 Things Politicians Don’t Want You to Know

Britain’s economy is booming again. Wages are outstripping prices. Consumer confidence is up. The stock market is riding high. Good news all round then? Not according to Dr Eamonn Butler, director of the Adam Smith Institute and author of new book The Economics Of Success: 12 Things Politicians Don’t Want You to Know. Today, Butler argues, looks very much like the boom bubble of the early 2000s, which burst

so spectacularly in 2008. The economic recovery ahead of the 2015 election is on borrowed time and funded at the taxpayer’s expense. Our economic party might be back in swing after the authorities’ hair-of-the-dog remedy of rock-bottom interest rates and £375bn worth of virtual money-creation through Quantitative Easing, but it’s all smoke and mirrors – 2007-08 all over again. Read the book for the fuller argument.

''

 THE WORD on the STREET 

The biggest risk to financial stability, and therefore to the durability of the expansion, centres on the housing market and that's why we're focused on that.” – The Governor of the Bank of England Mark Carney last month, expressing concern over the increasing number of large mortgages being approved by lenders.

© Dan Breckwoldt

Gibson Square £12.99, e-book £8.99, Dr Eamonn Butler

London leads the world in tech and culture

A study into cultural innovation and entrepreneurship in London has discovered that one in ten jobs in London is now in the technology, media and telecommunications (TMT) industry. The sector, which currently contributes around 8 per cent (£123bn) of UK GDP, is forecast to provide nearly 50,000 new jobs in London over the next decade. Between 2009 and 2012, the number of technology/digital companies based in East London, typically around Old Street roundabout and Shoreditch , increased by 76 per cent, growing from 49,969 to 88,215. The capital is now ranked first out of 30 global cities in terms of ‘technology readiness’. It has also become the global capital of culture, home to three of the world’s top 10 museums and what is reported to be the world’s most popular music venue (the O2 Arena). London has 173 museums, 857 art galleries, 796 cinema screens and hosts around 250 annual festivals. 84 per cent of Londoners believe that culture is important to ensuring a high quality of life. D Source: Cultural Innovation and Entrepreneurship in London, City of London Corporation, May 2014

Bloomberg launches hub at London City With 61 per cent of the airport’s close to 3.4 million yearly passengers travelling on business, it’s perhaps no surprise that Bloomberg has partnered with London City to create the Bloomberg Hub. Bloomberg’s biggest brand initiative to date, the hub promises to deliver timely and relevant news, data and information to those who

travel the world for business. Passengers will be met by a bank of six, 4K ultra-highdefinition, 55-inch digital screens before they enter the lounge, 260 square metres of business-friendly space that can seat more than 180 travellers. Enjoy market-shifting news and analysis on the move, just be sure not to miss your flight.

THE CITY BRIEFING | 17


City businessman completes Commando k ayaking challenge

KPMG runners raise £30k

A team of 16 runners from KPMG has raised more than £30,000 by taking part in the London marathon. The team were running for the company’s two staff charities, Shelter and Dyslexia Action. KPMG’s fastest runner, Alan Buckle, completed the course in three hours and seven minutes. “The experience was definitely worth the sacrificed lie-ins, pints and nights out,” said Edward Kemp, who completed his race in three hours and 25 minutes. “The high-points have to include loading up on carbohydrates for a week and low points were probably shin splints and the entire run between 22 and 24 miles.”

Keith Breslauer, managing director of Citybased private equity firm Patron Capital, completed a 104-mile cross-Channel kayaking journey last month. The feat was part of the Royal Marines 1664 Challenge, a series of endurance events to mark the 350th anniversary of the marine corp. Underway since February, the challenge involves Marines skiing 1,664 km across Norway; sailing 1,664 miles to Cadiz; cycling 1,664 km to St Malo and running a 1,664 km course from Portsmouth to London.

charity – in the –

city

City Bridge targets children affected by domestic violence The City of London Corporation’s charity, City Bridge Trust, has formed a new partnership with Buttle UK, the largest children’s grant-giving organisation in the UK to support children of families affected by domestic abuse. City Bridge Trust has awarded the first tranche of £470,000 to Buttle UK towards a three-year project to provide individual grants to children and affected families. The initiative will also establish a pan-London network of service providers, from staff working in social services to

Raising money for disabled war veterans, Breslauer was the only civilian to join the Royal Marines in the rowing stage of the event.

specialist domestic abuse organisations. Domestic violence accounts for 29 per cent of violent crime in Greater London.

Walk For Brainwave

On the evening of 26 June, Walk For Brainwave will see hundreds of City folk leave Minster Exchange at 5.30pm to take part in a 6km walk. Taking film locations as its inspiration, the circular course will pass through the settings of various blockbusters including Skyfall, Sherlock Holmes and Harry Potter. This year’s walk features a treasure hunt and complementary drink back at Minster Exchange. All funds generated will go to the Brainwave, which aims to provide UK-based disabled children with greater independence. Registration is £25 per person. D To enter the walk, visit: brainwave.org.uk/ walkforbrainwave

City welcomes sculptor Charles Hadcock

Spend a lot of time in Canary Wharf and you may be familiar with his permanent work there, but from last month until August, City folk can behold Charles Hadcock’s monumental creations closer to home. Running until 28 August at 60 Threadneedle Street, Charles Hadcock: Elements is an exhibition of large-scale, newly-created bronze sculptures. Visitors can get up close and personal with the dynamic interplay between weight and weightlessness, form and space, that typifies this artist’s work. D Charles Hadcock: Elements until 28 August 2014 60 Threadneedle Street, EC2R

18 | THE CITY BRIEFING


NEWS

 THE CITY of LONDON FESTIVAL  Event

N

ow under the direction of Paul Gudgin, who brought major growth to the Edinburgh Festival Fringe during his eight year tenure as festival director, the City of London Festival promises to animate the Square Mile like never before in 2014. The 52-year-old event, which takes place between 22 June and 17 July, has been given a new lease of life, this year employing a giant inflatable bowler hat outside the Stock Exchange as a venue for a series of music, dance, spoken word and theatre performances. Programme highlights include world-class symphonic concerts in St Paul's Cathedral, intimate recitals in livery halls and unique street performances in the City's gardens and squares. On 3 July, festival favourites the London Symphony Orchestra, will return to St Paul's Cathedral to perform Bruckner’s Symphony No.9 and the Penderecki Threnody for the Victims of Hiroshima,

conducted by Daniel Harding. Before then, on 30 June, the Academy of St Martin in the Fields will be joined by award-winning actor Simon Callow for a theatrical exploration of Beethoven, at the Lord Mayor's Residence, Mansion House. Elsewhere, the Seoul in the City series will see the Square Mile enlivened by a host of Korean artists including conductor Myungwhun Chung, pianist Sunwook Kim and jazz-come-folk group Ensemble Sinawi. Back at the bowler hat, the venue will host a daily programme of speakers, from comedy to a debate, discussing the City themes justice, money and power. The City of London festival includes more than 50 ticketed performances and over 100 free outdoor events. D For more information, visit colf.org

Crossrail Increases Growth

Research has found that the growth in activity levels of areas within a mile of the Crossrail stations was almost double the London average in 2013. Transactions within 500 metres of Crossrail stations grew by 23 per cent in 2013, while those within a mile grew by 21 per cent in comparison to the London average of 13 per cent. The report, by Hampton International, analysed activity and prices along all stations on the Crossrail line to identity its impact on the current and projected property market. D hamptons.co.uk

THE CITY BRIEFING | 19


WINE & DINE 

insider info, top tips, hidden gems, new openings & exclusive clubs WORDS: EMMA JOHNSON

ZEITGEIST This month everyone is… Eating…

lobster pie at City Social, Jason Atherton’s latest venture 24 floors up in the sky. Pull up a seat at the prohibition inspired bar, in-front of award winning mixologist Gareth Evans and tuck in to their indulgent version of the classic fish pie whilst sipping on a ‘pea-lini’ cocktail.

D Tower 42, 25 Old Broad Street, EC2N citysociallondon.com

Drinking… a ‘pickle back’ at The Big Easy Covent Garden. The barbeque and crabshack is back with its second instalment following its success in Chelsea, and it would be rude not to try the typical American shot. The measure of Jameson Irish whiskey with pickled cucumber and brine is undoubtedly a fun way to start the evening. D 12 Maiden Lane, WC2E, bigeasy.co.uk

Booking…

a seat at The Fat Bear’s Beefsteak Bacchanalia. Prepare yourself for a night of pure gluttony with a slice of regional American cuisine. The pop-up series will include mountains of the finest beef which is then dipped into butter, accompanied by free-flowing rivers of red wine. No crockery, just get down and dirty.

 HIDDEN GEM  Otto’s, Holborn Otto’s brings old-school French classics to life, with impeccable service and an impressive wine list selling at a fraction of the cost of its competitors. Otto’s sits inconspicuously on Grays Inn Road with a parade of empty wine bottles in the window. The quirky interior has just the right level of kitsch: red plush banquettes, Andy Warhol printed cushions and photographs of Brigitte Bardot. For a really special experience, book ahead and pre-order their famed ‘Homard à la Presse’ for two people. Otto’s is home to the original Lobster Press crafted in France in 1910, and there are only four in existence. The silver model of the lobster which is aesthetically pleasing, does also have a very important culinary function: the juice from the shell and the roe is pressed, and beaten into a lobster mousseline, which is served with the lobster body, topped with the lobster claws and the finest caviar. D Otto’s 182 Grays Inn Road, WC1X, ottos-restaurant.com

D 61 Carter Lane, EC4V, thefatbear.co.uk

POWER BREAKFAST Start the day as you mean to go on… Where: THE BALCON Why: The Balcon offers a luxury start to the day with a selection of homemade

pastries and freshly squeezed juices, as well as some traditional a la carte options for a more hearty option to fuel your energy. The restaurant sits within the Soiftel St James and is every inch as lavish as the hotel, with vast arched windows, statement chandeliers and a champagne balcony. Treat yourself to The Balcon English Breakfast which includes Trealy Farm black pudding, Cranswick bacon and roasted tomatoes, and sip on the St James Bloody Mary; It’d be rude not to. D 8 Pall Mall, SW1Y, thebalconlondon.com

20 | THE CITY BRIEFING


Wine & Dine

WORKING LUNCH This Month: Neil Borthwick, head chef at Merchant’s Tavern

DEGUSTATION Our pick of the capital’s best tasting menus THIS MONTH:

GALVIN LA CHAPELLE

The best table in the house…

...at the bar in Scott's. Perfect for people watching and being part of the action.

If you want to impress…

...order a bottle of NV Maison Jacquesson Cuvée 736 Brut, we serve it in the restaurant, and it goes extremely well with the Deep Fried Oysters and the Colchester Rock Oysters from the bar menu.

My favourite place for breakfast is…

D Merchants Tavern, 36 Charlotte Road, EC2A

D Seven courses with wine pairing £142 35 Spital Square, E1

If you need to send something back…

...it’s simple: just speak to your waiter and explain politely what’s wrong. I am sure they will be accommodating - or at least the good places will!

If the restaurant's fully booked…

...I have always found that sitting in the bar and having a few drinks until a table becomes available is a good plan.

the perfect night out…

...at home with my girlfriend.

My favourite time of day in the City is…

...start with a drink at the Golden Heart on Commercial Street, then move to Hawksmoor Spitalfields. Wash my food down with a couple of cocktails, and then head home to relax with a coffee and digestif.

The Galvin Restaurants have been making their mark across the capital (and Edinburgh); the family run modern French restaurants now have seven in their impressive collection. Perhaps the most striking of the restaurants, Galvin La Chapelle can be found in the increasingly popular artisan neighbourhood of Spitalfields, in a grand Grade II listed Victorian school chapel featuring a 30m high-vaulted ceiling. Headed by Chef Patron Jeff Galvin who was awarded a Michelin star in 2011, the ‘Menu Gourmand’ is homage to his impeccable skills and expertise in French cuisine. The menu takes you on a gastronomic journey starting off with the Lasagne of Dorset crab, an indulgent take on a classic, comforting dish. Served with ‘buerre Nantais’, a variation of a typical ‘buerre blanc’ with added cream, and a glass of Crozes Hermitage Blanc.

...watching the sunset over Tower Bridge, or any time I drive past that blue cockerel in Trafalgar Square. It always reminds me of how great a city London is.

Sushi samba

Paramount

Step into the bullet-fast express lift up to floors 38 and 39 of the Heron Tower and enjoy looking over the spectacle of London, with a ‘smoked plum negroni’ in hand.

With 360 degree views across the capital, The Paramount bar’s view is hard to beat, as is their cocktail list. Try ‘the green hour’ – it's sprayed with absinthe.

D 7 Pepys Street, EC3N

D Heron Tower, 110 Bishopsgate, EC2N

D Centre Point, 101-103 New Oxford Street, WC1A

WHERE TO TRY... drinks with a view in the CITY

Sky Lounge The 12th floor of the DoubleTree by Hilton Hotel in Tower Bridge boasts panoramic views of The City. Tuck into chocolate churros while sipping on a ‘cucumber cooler’.

THE CITY BRIEFING | 21


wine & dine

BON VIVEUR 

Our man-about-town, Nick Savage, presents his must-visit favourites Critics and cosmopolites alike contend that London is the leading city in the world for cocktail culture. However, when dissecting ‘Best Of’ lists it becomes apparent that there's a dichotomy involved between east and west. On one hand, you have the likes of the Artesian, The Connaught and Dukes, perennially popular high-spec dens of luxury touted yearly as being

Peg + Patriot Since the Town Hall Hotel opened, it has offered a pocket of refinement in the East End, putting Bethnal Green squarely in the spotlight as a destination for cocktails and culinary artistry. It looks well-poised to carry forward this legacy with Matt Whiley manning its Peg + Patriot bar and plying customers with his imaginative libations, which include a delicious Salt Beef Sazerac and a Marmite Vodka Martini. While some will no doubt be tempted to wrinkle their noses at these flavour combinations, those adventurous enough to sample his creations will be wellrewarded – Whiley even distils three different types of gin on site and produces his own house vodkas, liqueurs and vermouth. The space itself echoes the understated allure of the hotel with a monochrome colour palette, exposed filament bulbs and a layout that puts the action behind the bar into the foreground.

the best bars on the planet. On the other, you have a young, obsessive set of bartenders who favour tattoos, beards and basements. Innovation is the corollary to success, and it seems to derive in many ways from London's east/west tension. So, quo vadis, what next? Well, London’s newest hotels seem to be doing a good job of bringing posterity and the avant-garde together.

Clockwise: Chiltern Firehouse; London EDITION Milk Punch; Scarfes Bar

Chiltern Firehouse

The EDITION, like the Chiltern Firehouse, has major star sway and a powerful arsenal of offerings. If Berners Tavern is the hotel's rocket-powered grenade and the Basement its AK-47, the Punch Room would be the sniper rifle; set back from the fray and well-adapted to dangerous liaisons. Disco godfather and hotel maven Ian Schrager has opted for a cosy, dimly-lit design with fumed-oak panelling and teal velvet banquettes, padded out with a categorically attractive staff and clientele. Bar manager Davide Segat mixes up trailblazing punches served in opulent crystalware for up to eight guests to share – and everybody knows that sharing is sexy.

Andre Balasz has a keen eye for glamour, and has managed to put his finger directly on the pulse of London with the launch of the Chiltern Firehouse, which plays out like a hybrid of his Chateau Marmont and Standard Beach Miami hotels with a distinctly British slant. At the moment, the Firehouse is so wildly popular that you'd be more likely to apply successfully for a position on the International Space Station than book a table last minute. However, walk-ins are often successful and hotel guests will be rewarded with access to the Ladder Shed, currently the coolest bar in the capital, as luminous with stars as the Orion Nebula. That said, the Firehouse bar is equally agreeable, and drinkers receive the added benefit of the restaurant’s buzz and clamour. Bar snacks have been engineered by head chef Nuno Mendes and are nothing short of excellent, whilst the drinks are both contemporary and classic, just like the hotel.

D 10 Berners Street, W1T

D 1 Chiltern Street, W1U

D Patriot Square, E2

Punch Room at the London EDITION

22 | THE CITY BRIEFING

Scarfes Bar The new bar at The Rosewood Hotel is a bit of a wild card. Nestled in the area that estate agents are attempting to rebrand as Midtown, which was erstwhile known as Holborn, it boasts a beautiful design executed by Martin Brudnizki, replete with illustrations from the eponymous caricaturist Gerald Scarfe, a leather-bound selection of books in the library, a grand fireplace, a wooden herringbone floor, and an abundance of plush rugs, carpets and armchairs. The Rosewood has imported master drinksmith Giovanni Spezziga to assemble the cocktail list and helm the bar, which he has done with aplomb, creating signature cocktails such as his excellent Diplomatic Immunity, ensuring that Scarfes is brimming with a handsome crowd every night and potentially putting Holborn back on the map. D 252 High Holborn, WC1V Nick Savage is editor of Innerplace, an exclusive London lifestyle concierge, innerplace.co.uk


style

The Cit y Style Edit Look the part, play the part, from breakfast to boardroom to bar BY RICHARD BROWN

Undercover

Buckle Up

Bag it Up

Italy’s Francesco Maglia is a fifth-generation company and now one of the few manufacturers of their kind left in Europe.

Crafted from solid gold, steel and titanium, this Roland Iten belt buckle comprises more than 110 components.

House all you’d ever need in 24 hours in this leather weekend bag from Porsche Design.

D Lord Hazelnut Wood Handle Umbrella, £225, Francesco Maglia, mrporter.com

D R8 MKII Belt Buckle, POA, Roland Iten, rolanditen.com

D Shyrt Leather High Grain 24h Bag, £810, Porsche Design, porsche-design.com

Roll with it

Outdoor Dining

Chin Chin

Here’s what happens when the worlds of furniture design and Australian wine collide – beautiful Linley for Penfolds bottle cases.

Protect your wrist candy while on the move with Dom Reilly’s watch rolls, featuring materials used in Formula 1.

If you’re going to picnic, do it properly with this luxury Aston Martin Collection hamper.

D Linley for Penfolds Giftbox, £1,992 for a case of three 75cl bottles, penfolds.com

D Limited Edition Watch Roll, £475, Dom Reilly, domreilly.com

D The Luxury Picnic Hamper, £2,950, Aston Martin, grantmacdonald.com

The Name’s ‘Bond’

Write on Track

Street Style

Originally tailored for Daniel Craig in Casino Royale, Sunspel’s Riviera Polo has spurred many imitations.

Twenty years after his death, Montegrappa has issued a series of pens inspired by the spirit of Ayrton Senna.

If dress-down Fridays will allow it, Lanvin’s rubber toe trainers cater for the smart-casual look.

D The Riviera Polo Set, £210, Sunspel, sunspel.com

D Senna Edition Pens, from £1,435, Montegrappa, harrods.com

D Rubber Toe Trainers, £400, Lanvin, harrods.com THE CITY BRIEFING | 23


CITY SOCIAL LAUNCH, THE CITY Date: 29 APRIL / VENUE: TOWER 42

M

ichelin starred chef; Jason Atherton recently teamed up with Restaurant Associates to launch a 90 cover venue within the iconic skyscraper, Tower 42. The unveiling of City Social was attended by a rather beautiful crowd of foodies, which included Benedict Cumberbatch and David Gandy. Guests sipped champagne and expertly crafted cocktails, while they took in the stunning London skyline from its location on the 24th floor. For most however, the highlight of the evening was of course the food. Goats curd churros, smoked pork empanadas, mini aged beef burgers and millions of macaroons delighted appetites that will no doubt be back for more.

From the top: David Gandy and Jason Atherton; Steven Hitchcock and Juliet Oldfield; Benedict Cumberbatch; Ravinder Bhogal, Jason Atherton and Rebecca Seal; Jason Atherton, Paul Hood and guest; Daniel Humm, Kara Yu, Irha and Jason Atherton; Amy McMullin and Natalie Dunbar; Melissa Odabash and Irha Atherton; Michael West, Jason Atherton, Steven Hitchcock and Andy Downton.

24 | THE CITY BRIEFING


CALENDAR

THE HUBLOT KING POWER 66 HODGSON LAUNCH, MAYFAIR/WESTMINSTER Date: 25 APRIL VENUE: HUBLOT BOUTIQUE/HOUSE OF COMMONS

H

ublot continues to strengthen its presence in the world of professional football, with the unveiling of the King Power 66 Hodgson, a new limited edition timepiece created and named in honour of Roy Hodgson, manager of the England National football team. Designed in collaboration with Roy’s son Christopher, the timepiece is limited to 66 pieces, to commemorate the year England won the World Cup. Ricardo Guadalupe, CEO of Hublot hosted an evening attended by VIP customers, where the watch was presented to the famous manager. Following the presentation, which took place in the New Bond Street store, guests were taken on a tour and enjoyed dinner at the Houses of Parliament.

From top left: England Football Team Manager Roy Hodgson and The City Magazine’s Richard Brown; Nigel Breckon, Susanna Abu Zalaf, Carley Ayres and Dave King; Richard Hammond and Stephen Metcalfe, Conservative MP for South Basildon and East Thurrock; The King Power 66 Hodgson by Hublot; Arif Efandi, Tim Moufarrige, Joanna Crocker and Andrew Crocker; Roy and Sheila Hodgson with CEO of Hublot Ricardo Guadalupe; Mr Hodgson signing footballs at Hublot’s New Bond Street store.

THE CITY BRIEFING | 25


www.bachet.fr


PRIVATE BANKING

join the club In the wake of the financial crisis, wealthy individuals have greater choice when it comes to selecting a private bank or wealth management proposition. As regulation has weighed heavily on retailers, consumers have been put in the driving seat Words: Jennifer Hill

“T

he wealth management industry has had to deal with huge upheaval following the financial crisis and the subsequent fallout from the systemic failures of the global investment banks in 2008,” says Stephen Browne, head of marketing at Waverton Investment Management. “This has understandably led to changes within the sector in the UK, with a significant impact on corporate governance and on the viability of selling heavily commoditised banking products to a justifiably

more cynical and financially literate client base.” The Retail Distribution Review (RDR), introduced at the start of last year, brought sweeping changes to the regulation of Britain’s financial services sector. Seth Cowburn, head of wealth management at Duncan Lawrie Private Bank, says: “Regulatory pressure revolving around suitability and money laundering is a huge additional cost for banks and has changed the shape of the private banking and wealth management market.”

BUSINESS & WEALTH | 27


Consolidation

The massive increase in regulatory and compliance requirements has made private banking less lucrative – and has led to a wave of consolidation within the industry. “Some banks have exited the advice arena, others have bought asset managers and advisory firms and new entrants have steered clear of investment and advisory work,” said Ian Porter, head of wealth management at Sanlam Private Investments. Last year, some 60 transactions took place worldwide, with almost $760 billion of clients’ assets changing hands, according to data from Scorpio Partnership. The valuations being put on assets highlight the greater cost of doing business: purchase prices have fallen to an average of just 1.22 per cent of managed assets from 3.7 per cent in 2008. While the regulatory environment has been challenging for industry players, the outcome has been positive for consumers – leading to greater suitability of products, enhanced service levels and lower fees. “There is greater competition than ever to become the trusted adviser to ultra-high-net-worth (UHNW) families,” says Browne. “Clients also have a greater choice now due to the wider range of firms available in the wealth space with IFAs, stockbrokers, investment managers, wealth managers, financial planners, family offices, private banks and the wealth divisions of global investment banks all vying for the attention of the wealthy and ultra-wealthy.”

A bigger pie

They are competing for a slice of a bigger pie. Fuelled by global recovery in the equity and property markets, the investable wealth of the world’s high-net-worth (HNW) individuals has rebounded, according to the World Wealth Report 2013 by Capgemini and RBC Wealth Management. It grew by almost 10 per cent in 2012 to reach a record high of $46.2 trillion, after declining 1.7 per cent in 2011. One million opinion,” says Duncan Lawrie’s Cowburn. “The ‘cost to serve’ ratio has people joined the world’s high-net-worth population (defined as those now meant many firms have increased their minimum entry levels to with investable assets of $1 million or more, excluding their primary £500,000-plus with some well-known names significantly higher.” residences, collectibles and consumables), which has reached 12 million. Coutts, the private banking arm of Royal Bank of Scotland and Global high net worth wealth is forecast to increase by 6.5 per cent famously bankers to the Queen, doubled its minimum amount of per year over the next three years, in investable assets a new client needs contrast to sluggish growth of just to have as part of an ambitious push In their bid to attract the wealthiest 2.6 per cent since the financial crisis. into investment management services clients – with the biggest profit UHNW individuals have become in the UK. The bank asks for new margins – some private banks have much more discerning and hands-on customers to have investable assets of hiked their entry levels than before, especially the younger £1 million-plus, up from its previous generation and the wealthy from guideline of £500,000 or more, that emerging markets, according to Yannick Naud, a portfolio manager at can be placed with the bank straight away. Sturgeon Capital, an asset manager to the rich. “It’s a good thing, as it Others, however, have lower barriers to entry. Duncan Lawrie pushes financial institutions and intermediaries to be more competitive introduced a minimum of £250,000 in April (previously it assessed and creative in thinking about the best set-up and product offering,” clients on a case-by-case basis), while to be eligible for Lloyds Bank’s says Naud. private banking services you also need to have at least £250,000 in savings and investments or a sole annual income of at least £100,000. Investec’s Voyage account requires an annual salary of £150,000 or more. Higher barriers Matt Cavalier, head of private banking accounts and services at In their bid to attract the wealthiest clients – with the biggest profit Investec, says: “The industry appears to be in a state of flux. You see margins – some private banks have hiked their entry levels. “Joining some banks raising the criteria for private banking and leaving behind the private banking club is getting harder, rather than easier, in my

28 | BUSINESS & WEALTH


PRIVATE BANKING

clients from the highest level of wealth who come to Investec because they feel they are getting a premium level of service and support, online, over the phone and in person.”

Bespoke solutions

Private banking is largely about service. For Cowburn at Duncan Lawrie, that means offering bespoke and holistic solutions to clients and their children, covering their investment management, financial planning, tax planning and banking requirements all under one roof. However, while many of the larger banks offer specialist teams to accommodate everything from concierge services to venture capital, others are adopting a more narrow focus to target specific market segments. Naud at Sturgeon says: “We could see in the future two main types of offering: the first one being professionals highly specialised on specific asset classes or themes and the second one being outfits offering a much wider range of services from asset management, tax and legal advice through to concierge, best of class schooling and private health, nationality and residency-related services.”

New breed

professionals who are coming up the wealth curve – those making, for example, £75,000 and above and who would prefer the servicing a private bank.”

No frills

The Investec Private bank account, its most recently-launched product, was designed to fill this void. It has a minimum earnings threshold of £75,000 per annum. Accountholders pay £10 per month and currently receive credit interest of 0.25 per cent and an overdraft rate of the Bank of England base rate plus 8 per cent. It is ‘no frills’ compared to the Voyage account, which costs considerably more at £500 per year, but gives a range of benefits such as an ‘international lifestyle management package’ that includes a concierge service spanning entertainment, dining, travel and exclusive events. Called Priority Pass, it gives clients access to over 600 airport lounges and worldwide travel insurance. The account also pays more credit interest, at 1.51 per cent, and charges a lower debit interest rate, at base rate plus 6.5 per cent. Both accounts offer round-the-clock web and phone banking. “What is becoming important for private banking clients is the ability to perform banking activities via their preferred channel which is often on desktops and tablets,” said Cavalier. “We’ve seen a sharp increase in

Sturgeon is one of a number of new breed of players focusing on providing asset management services to HNW and UHNW individuals. The main business of Sanlam Private Investments is also discretionary wealth management, whereby clients have a direct relationship with their portfolio manager who provides a service tailored to their needs or to the requirements of their financial adviser. “Depersonalisation is the last thing most sophisticated clients actually want, so our mantra is people ahead of process. We want a lasting relationship, not to maximise our revenues.” The company offers portfolio management services to clients with as little as £50,000 to invest for typically less than 1 per cent per annum. Browne at Waverton also points to the “growing influence of boutique specialist houses”. His firm offers services tailored to very specific subsets of HNW individuals, such as Britain’s resident nondomiciled community and wealthy Americans. “With the introduction of FATCA [the Foreign Account Tax Compliance Act], fewer houses are now able, or want to, look after US clients. As a SEC [Securities and Exchange Commission] registered business since 2002, we understand the particular reporting and administrative issues affecting this group of clients,” adds Browne.

Pitfalls

Investec’s Cavalier cites hidden fees and conditional private banking, where you must enlist banking and wealth management services from the same provider, as the main pitfalls to avoid when selecting a company or companies to look after your wealth. “The client should be able to decide who they bank with and who manages their wealth, rather than this being dictated by the bank,” Cavalier says. “For specific, personal situations clients may want to consolidate banking and wealth management or want to keep them separate – this should be left to the client to choose not have it imposed upon them.”

BUSINESS & WEALTH | 29


LIQUIDITY

Unlocking Liquidity The holy grail of the entrepreneur WORDS: Eden Riche

Y

ou are a successful business person who has created some wealth, but not enough. You are hungry, ambitious and keen to exploit a myriad of new opportunities that come across your path. There is only one problem. All of your money is tied-up in business ventures or illiquid assets and your ability to raise unsecured debt is limited. There is, however, a solution to your dilemma that is not only cost-effective but significantly enhances your capacity for wealth creation. Cash as an asset is dead weight for many entrepreneurs, especially in today’s ultra-low interest rate environment. They have to employ it, either as investment or working capital, or face a gradual reduction in real wealth as inflation eats away at its value. The cost effective solution, which is gaining in popularity, is to raise debt which is secured against the portfolio of assets the entrepreneur already holds. This can be as prosaic as property or as exotic as art collections. Provided that there is a clear way for a lender to establish a realisable value for the asset, they can take a view on how much they are prepared to lend against it. Residential and commercial property, diversified share and bond portfolios, single stock equity holdings (both public and private companies), contracted future income (especially in the sports and entertainment spaces), music royalties, yachts, aeroplanes, artwork and classic car collections have all been used as collateral for medium term lending at attractive rates of interest. In short, where the value of an asset can be ascertained from third parties or calculated using trusted techniques, banks are increasingly prepared to take it as collateral. Most entrepreneurs will only consider projects or investments with internal rates of return in excess of 8-10 per cent, whereas secured debt of this type is available at much lower levels. Recently, we have seen big forward steps in this space, with growing interest some banks, including Investec, are showing in looking at the existing business of the entrepreneur as the security for a personal lend. Traditionally, banks have attributed limited value to private company Similarly, in some ‘non-standard’ asset classes, there are situations shareholdings as collateral, but this stance is being challenged. The where collateral is either too hard to value accurately or considered too shift is the result of a more technical approach to structured lending exposed to fraud, damage or theft. Again, there are mitigates to this and credit at the personal level. Banks are becoming smarter and in the field of insurance and storage, more entrepreneurial themselves specialist firms are emerging to as they broaden their approach to Clearly this is not a complete panacea; and cater for these needs. the personal lending sector. The many businesses are considered subOverall, the opportunities for increasing use of sophisticated scale, have insufficient track records, entrepreneurs to leverage their corporate finance techniques across or are simply too hard to value reliably existing assets and create even other areas of banking is helping, more wealth have never been as is the recruitment of lenders and more promising. The low interest rate environment and easier credit structurers with investment banking experience. As a consequence, conditions make debt attractive from an absolute perspective, and the new valuation methodologies enable lenders to take a more complete growing acceptance by lenders of a more eclectic range of security view of the borrower’s wealth and income. means the pricing of this debt on a relative basis is economically Clearly this is not a complete panacea; many businesses are beneficial. Any rational business person owes it to themselves to considered sub-scale, have insufficient track records, or are simply too investigate this avenue of funding. hard to value reliably. Banks need to be comfortable that in the worst case scenario they are able to liquidate the shareholding to redeem the outstanding debt. Without a well-established public market in the D Eden Riche is Head of High Net Worth Lending at Investec shares, this is hard, but not impossible. Specialist Bank

30 | BUSINESS & WEALTH


opinion

Lex Van Dam EQUITIES “When investing, you have to realise that swimming against the tide is not easy. Ultimately, what you need to achieve is to own a portfolio of stocks that you can hold on to when the market turns down”

I

have made the case in my previous columns on why it makes sense for some people to manage their money themselves instead of giving it to others to do it for them. I explained how to do this using my Five-Step-Trading® methodology which is composed of the following five steps. The first step is generating your own ideas; the second step analyses these ideas from a more fundamental approach; the third step looks at charts to make sure you get your timing right; the fourth step ensures that you are mentally in the right place before you trade and finally, the fifth step is about risk management so that you don’t ‘blow up’ and lose all your money when things go wrong. Here, I want to focus on step one: generating your own original trading ideas. You cannot trade without ideas. I always recommend that you try to develop your own ideas rather than copy them from investor magazines, newspapers or tip-sheets. I also suggest that you never base investment decisions on rumours, as they are usually wrong. More money is lost by listening to others than for any other reason. Instead of listening to others, a much better place to start your idea generation is, for example, by thinking about your own personal experiences as a consumer or as a professional. Do you shop at Tesco, Sainsbury’s or Morrisons? Why do you choose one over the other? You probably use a mobile phone, the internet and put petrol in your car. Which companies would benefit from this? The message here is that most of the products that we use in our daily life are produced by companies quoted on the stock market. It never ceases to surprise me that when a company makes products that I really like, the stock price often goes up. This is a very Warren Buffet style of investing and really can work. So, if you see a product that you like or dislike, maybe you should do some further research into the company concerned. You can also take a different approach by looking at the economy as

32 | BUSINESS & WEALTH

Contact:  lex@lexvandam.com

a whole, or at particular local or global development, and then trying to find companies that fit a certain theme. For example, if the oil price keeps going up, maybe you should sell British Airways. If you believe that the Chinese economy is slowing down, you might want to avoid a global mining company such as Rio Tinto. And if you believe that alternative energy is the way forward, why not invest in Vestas Wind Systems? With either approach, you have to make sure to keep your finger on the pulse. Themes change and products run out of fashion. These days, with product life cycles that seem to be getting shorter and shorter, you can’t necessarily expect a buy-and-hold approach to always work. You need to be able to keep your portfolio fresh, with stale ideas removed and new ones added. You also need to understand that every stock is part of the larger stock market. If the general market direction is down, it is not easy to make money by buying a portfolio of stocks. When investing, you have to realise that swimming against the tide is not easy. Ultimately, what you need to achieve is to own a portfolio of stocks that you can hold on to when the market turns down. If your portfolio only consists of a selection of ideas from others, you will go through a lot more stress than if you have your own good reasons for owning your stocks. It is extremely important to realise that a great company is not always the same as a great stock. The key issue here is value. If you buy a great company at a low price then it might well make a great stock. However, if you have to pay a very high price to get a great company in your portfolio, it might just not be worth it. On the other hand, I don’t mind owning some companies that are not so great as long as I can buy them cheap enough to compensate me for the risk that things could go wrong. I think you probably get it by now. A great stock is not the same as a great company; it is a stock that makes us money. And that is what we will talk about next time. D Lex van Dam is a hedge fund manager and financial educator, specialising in trading in equities, currencies and financial derivatives


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opinion

Nick Hungerford INVESTMENTS Would you buy shares in Twitter?

Contact  info@nutmeg.com  020 7806 6158

I

’d hazard a guess that the vast majority of you could give me an answer right now. Whether it’s a ‘yes’ or a ‘no’, nearly everyone I put this question to has a passionate and almost immediate response, even without a hint of research, analysis or, more often than not, detailed knowledge of the tech market landscape.

© Twin Design

Fortune tellers

When it comes to the future fate of businesses like Twitter, Facebook, Instagram et al – the social media battalion of modern consumer brands – we all seem to have a single-minded and forthright view that cares little for genuine professional insight. Much like we all claim to know exactly what’s wrong with the Government’s public spending policy and, indeed, why Roy Hodgson’s 23-man World Cup squad doesn’t have the depth to get England beyond the group stages, so the world of investment management is crawling with pundits eager to dissect the merits and flaws of the new breed of digital giants. The allure of digital communication companies these days is immense, but also opinion on whether to invest in them or not is severely divided, even among the so-called experts of investment management. This is, in part, why share price valuations in many of these companies have appeared so volatile this year, though that doesn’t necessarily mean they’re to be shunned.

In the spotlight

The information-tech sector dropped in value by about five per cent in April. Alarm bells started ringing instantly in the financial press but, in actual fact, that kind of a decline in itself isn’t overly extreme – we saw similar falls in tech stocks in January and April 2013. However, it made headlines because it was the likes of Google, Facebook and Groupon that suffered some of the biggest losses and these names are now exciting, household colossuses of the modern era. They are the new BP, Walmart and Marks & Spencer. Such immature technology companies with explosive growth are very difficult to put a price tag on. They have a comparatively short track record in revenue terms, but have a global network of many millions of customers. The argument that they’ve been wildly over-valued to date, as some financial commentators are now saying, is not necessarily true. You could have made such an argument last year – and the year before that. It’s more likely that these recent price fluctuations are just a natural readjustment as opinion flexes on the company valuations and we’re likely to see a lot more volatility around these companies in the years to come. We just need to get used to it.

Big doubts over new entrants

More worrying, perhaps, is the questionable quality of some of the

newer technology companies entering the UK stock market. Recent share offerings from organisations such as Appliances Online and Just Eat require very big assumptions on their projected revenues to justify the valuations we’ve seen. As impressive and robust as these companies undoubtedly appear to be, they are arguably more like existing business models, rather than the sprawling land-grab of new social media, big data and financial technology firms, and should be viewed accordingly through a very different lens. Ultimately, if you’re looking to make a sound and solid investment, I think it would be foolish to pin your hopes on one or even a handful of companies, but especially so in the technology sector where developments are fast, furious and relatively unpredictable. How on earth could you safely forecast the future fortunes of a business like Facebook? The digital media industry is evolving at breakneck speed and is unrelenting. No one is immune. Yet it still represents incredible potential for equity returns. So to anyone feverishly seeking out an investment opportunity, I would personally always stress the need to look beyond a brand. For reliable long-term gains, you need to have a cohesive portfolio that contains thousands of individual holdings in all manner of investments – company shares, bonds, commodities and so forth – all aligned to the level of risk you want to take. D Nick Hungerford is CEO of Nutmeg, the online investment management company that builds and manages portfolios tailored to each customer for a single low fee.

With investment comes risk. The price and value of investments mentioned and income arising from them may fluctuate and you may get back less than you invest.

34 | BUSINESS & WEALTH


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opinion

Christopher Vecchio FX Is the Euro about to become a victim of ECB policy missteps?

A

serious flaw was exposed in the European Central Bank’s policy strategy last month, setting up the Euro for a potentially rough few weeks going forward. With ECB President Mario Draghi saying that the Governing Council felt “comfortable” enacting further dovish policies at the June meeting once the new staff economic projections were released, the market’s growing calls for new dovish action has been materially altered into a full-blown expectation of a substantive policy change in upcoming weeks. Market participants gleefully hopped on-board the Euro bear train midway through President Draghi’s press conference, taking the latest episode of jawboning a bit more seriously now that a veritable checkpoint has been established that could undermine the Euro (the selling after the ECB meeting was evidence of the market pricing in a small rate cut). Even though President Draghi indicated that the Euro exchange rate was not a policy tool, he did specifically say that it would be necessary to address if it undermined price stability. Incidentally, traders have taken this as a sign that persistently low inflation for the region is being blamed on the single currency (rather than the policies which got us to this point, of course) – and this is now the most daunting corner the ECB has backed itself into, essentially guaranteeing some form of easing. We can’t say that Euro weakness into the next meeting is guaranteed; but, in the sense that market participants needed a reason to offer the Euro lower, they’ve been granted one: the ECB wants a weaker currency,

36 | BUSINESS & WEALTH

and it has promised a dovish policy response in return. And the market has responded, with the EURUSD dropping from a fresh yearly high of $1.3993 recently, to 1.3760 just a day later. Clearly the market is already responding, just like it did in lateOctober into early-November. The ECB proceeded to cut rates by 25bps, and the Euro bottomed that day. The rate cut was baked in, with the EURUSD having fallen by over -3 per cent in the preceding two weeks. The EURUSD retraced all of its losses over the next month and a half; inflation slipped back as the Euro rebounded. The ECB very much risks the same unfolding of events here, especially because the region continues to run large current account surpluses – there is a natural market inclination for the exchange rate to rise in response. The market now has the ECB hostage. If there is no action, the ECB’s credibility will be torn to shreds and the Euro will shoot to the moon. But if it’s only a rate cut as a response, like what transpired in November, it is doubtful that the Euro will stay low for long either. Market participants will be hungry for more reasons to obey the ECB’s desire for a weaker currency despite certain financial (debt aspect of crisis has faded, sovereign yields at record lows) and trade (current account surpluses) fundamentals that dictate a stronger currency. Now that the ECB’s main rate will be pinned near zero per cent, the Euro may about to become a victim of the ECB’s policy missteps (President Draghi used to say the ECB never pre-commits; now totally discredited). It’s only a matter of time before market participants threaten to push the Euro higher unless the non-standard realm of policy is entered – negative rates and/or full blown QE. D Christopher Vecchio is a Currency Analyst for DailyFX.com


opinion

Richard Jeffrey MACROECONOMICS Why or, more appropriately, why not…

M

ore commentators are beginning to ask the question: should we be raising interest rates? The widely-held view seems to be: not for the moment, for fear of jeopardising the recovery. My take on this debate is slightly different. Interest rates have been held at the abnormally-low level of 0.5 per cent since the economy nose-dived into recession and we found ourselves embroiled in a financial crisis, the like of which few of us had contemplated. But with momentum in the economy building up and the financial system mending, surely the right question is: why are interest rates not rising now? While for many people the answer might be the same (for fear of jeopardising the recovery), it frames the debate in a different way. It demands logical arguments as to why increasing rates would be a bad idea. Any change in policy has an associated risk, and clearly there is a risk that a premature tightening in the monetary regime could reintroduce stress in the financial system and an adverse reaction in the real economy. Equally, there are risks associated with inaction. Doing nothing is not always the safer option that it might seem to be. What tends to happen when we try to judge whether a change in policy is required is that we look at the prevailing economic environment. But policy changes made today do not have an instant impact – they influence activity in the real economy after around a year, and those changes in activity tend to feed through to the price level after another year. The Monetary Policy Committee (MPC) recognises this in its forecasting framework. But read the minutes of the meetings and

Contact  info@cazenovecapital.com

you will realise that the policy debate is driven much more by what is happening today and in the recent past. Think about the ill-fated forward guidance provided by Mark Carney last year. He suggested that the MPC would start thinking about raising rates when unemployment hit seven per cent. But what he should have said (if he wanted to use employment as the base for guidance) is that the MPC would start tightening once its assessment of economic prospects suggested that unemployment would fall to some specific threshold in the future. If setting interest rates were as easy as looking at current indicators and deciding whether growth and inflation were at rates that required a change in policy, then we could disband the MPC and give the task to my 87-year-old mum and 95-year-old dad. It is evidently not that simple, but that does not mean that the MPC has established an effective policy process. The financial crisis and recession did not happen outside the policy framework maintained by the MPC – their severity was in large part due to the policy framework that had been in place over preceding years. So, on the basis of an unchanged interest rate level, the Bank of England is forecasting that growth will be 3.7 per cent in 2014 and 3.6 per cent in 2015. It is also forecasting that by the second quarter of 2016, inflation will have risen to 2.35 per cent and that it will remain on an upwards trajectory from there. If the Bank believes its own forecasts, then the normal lags between policy changes and their impact imply that the tightening process should begin now. In my view, proactive rather than reactive rate increases carry less risk, will lead to a more balanced recovery and will eventually entail a policy tightening (which we all know must happen at some stage) that will be more measured in terms of both speed and extent. D Richard Jeffrey is chief investment officer at Cazenove Capital

BUSINESS & WEALTH | 37


alternative investments

Investing and doing good

You can do both at the same time, says Nick O’Donohoe, Chief Executive, Big Society Capital

M

aking money and doing good isn’t something you would usually expect to go together. But the advent of social investment means the two needn’t be mutually exclusive. Where before you might have one pot of money for investments, and a separate one for your philanthropy, a whole new range of opportunities are available to investors that deliver financial returns and tackle some of our most challenging issues in the UK, from youth unemployment to dementia care. Threadneedle’s UK Social Bond Fund, launched in partnership with Big Issue Invest, is similar to a corporate bond fund, but is focused on providing much-needed credit to charities and other social organisations. This might include projects such as building affordable homes in a local area or providing funding for a university to build a medical research centre. The fund has daily liquidity, low minimum investment entry and is ISA-able. For those with more substantial capital to dedicate to social investing, you might consider Social Impact Bonds. These operate with the investor providing the early finance to allow a charity to deliver an innovative service, with repayment from a government department or local commissioner based on social outcomes. For example, to tackle youth unemployment, the charity Tomorrow’s People, backed by Big Society Capital and Impetus-PEF, delivers early intervention programmes in schools. The project, ThinkForward has already been shown to improve the confidence, skills and GCSE results of young people, and will be paid for from savings made to the Department of Work and Pensions’ purse. Alongside the opportunities, a growing number of organisations are providing specialist advice and support to potential social investors. Tom Carruthers, CEO of Social Stock Exchange, which showcases social impact business looking for investment, says: “We are challenging the misconception that you can either make a market return on your investment, or you can invest in companies seeking to deliver social or environmental impact. We want to impress on retail investors and the whole investment community that this is not the case – impact investing can deliver a healthy return.” And the tide is changing. Since April of this year, social investors can now benefit from tax relief of 30 per cent, in a scheme launched by the Government to encourage EIS-like investment for social good. We expect this will lead, over the next five years, to nearly half a billion pounds of new investment in charities and social enterprises. So who are these new social investors? Individuals, companies, or any entity with money to invest with a long-term horizon could feasibly become a social investor. And a growing number of investors are reserving an allocation of capital for social investment as they believe it is more in tune with their personal or corporate values. Gavin Francis, founder and director of Worthstone, which seeks to educate financial advisers on the availability of social investment products, believes that a large number of individuals will be excited about these opportunities: “This type of investing isn’t for the faint-hearted or the half-hearted. It’s

38 | BUSINESS & WEALTH

for those who want to make a real investment that makes a difference and leaves a legacy in this world which could be transformational for individuals, communities and society.” As Rod Schwartz of ClearlySo, who runs a specialist Angel Network says: “The importance of social impacts means that values play a big part in the investment decision-making process; values shift and are challenging to measure, and the trade-offs that investors are prepared to make change constantly.” Social investment provides a new and exciting opportunity for investors of all kinds. The UK is at the forefront of its development, and for those interested in cutting-edge investments and using part of their portfolio to do good, this is just the beginning.


Bob Swarup

Fit to burst In his new book, Money Mania: Booms, Panics, and Busts from Ancient Rome to the Great Meltdown, Bob Swarup explores how boom and bust is hardwired into humanity Words: Chris Allsop

40 | FEATURES


money

B

ob Swarup – author, economist, former investment manager, former chief risk officer and “refugee from cosmology” – is telling me a story. It concerns a phenomenon from 1954 that occurred in Seattle, Washington. Some locals noticed that cracks and pits had appeared in their windscreens. They reported the damage to the police who investigated, presuming a gang of vandals, but apprehended no culprits. Meanwhile, the reports of damage spread further afield, even including cars parked in a nearby submarine base. The mystery was covered in local newspapers as many more cases began to pour in. At this stage, new theories were put forward: was it a side effect of the recently-detonated hydrogen bomb; the influence of cosmic rays; or sand fleas embedded in the glass? While the theories piled up, the reports of damage multiplied, reaching into the thousands. The National Guard was called in, scientists were assembled. Eventually, someone suggested that, perhaps, the pits and cracks had been there all along. The Seattle Windscreen Epidemic – a prime example of mass hysteria and herd behaviour – is one of a number of colourful historical excerpts that Swarup employs in his eloquent new book Money Mania: Booms, Panics, and Busts from Ancient Rome to the Great Meltdown. An exploration of the historical and psychological factors that contributed to the 2008 financial crisis, Swarup’s prompt to write Money Mania occurred as he was researching a collection of essays on finance in 2008. “I’m intrigued by the history of finance,” the softly-spoken Swarup explains. “And it interested me that the first ever sovereign default occurred in 377 BC in Ancient Greece. And that, despite two-anda-half thousand years of intervening progress and culture, we have another Greek default today that implies we haven’t learned very much.” However, as the quotations framing the opening chapter imply, understanding what lies behind a cycle of boom and bust (averaging once a decade for four hundred years in Western Europe alone) won’t necessarily result in a solution. In fact, Swarup believes that the cycle is part of our socio-economic DNA; the result of our base psychology as human beings combined with how society operates: its use of shortcuts – such as trust – that allow us to navigate society’s complexity and execute decisions in the present, without really being aware of the longer-term ramifications of our actions. “To a large extent,” he says, “the history of crises is also the history of unintended consequences.”

Swarup describes this almost wilful short-sightedness as “temporal myopia”, a concept which he illustrates using the famous Stanford Marshmallow Experiment of 1972. Over the course of the experiment, some 600 children, aged four to six, were given a marshmallow (or similar treat). They were allowed to eat the treat immediately, but were told that if they held off for 15 minutes, they’d be rewarded with a second marshmallow. Only a third managed not to succumb to temptation, with some surviving only through drastic measures such as licking the table around the marshmallow, firmly closing their eyes or actually sitting on the marshmallow. ‘[The findings] explain why we find it so hard to diet and why it’s so difficult to give up smoking,’ Swarup writes. ‘The long-term rewards are clear in each case and compelling, but the near-term pleasure from that burger or that slow drag is far more appealing, despite its toxicity.’ However, this flaw – if indeed you would call it that – can be viewed another way. New businesses are started up every day, and despite the fledgling CEOs probably being aware of the statistic that 90 per cent of new businesses fail, they begin convinced that they’ll succeed. A rather dangerous quotation from George Bernard Shaw appears in this chapter: ‘All progress depends on the unreasonable man’. “We could argue that if it wasn’t for that optimism, it would be impossible for people to create the innovation that fuels society and the growth that we desire,” Swarup explains. “If we’re fatalistic and don’t bother having that blinkered view, we’ll be a bit miserable – there’s no point trying, guys. The things that are bad for us can be the same things that are good for us.” Swarup supports this paradoxical statement with examples such as the dot-com bubble, which lost a lot of investors a lot of money, but also ‘financed a paradigm shift in the global exchange of information and social interaction’; and that it was only when ‘greedy banking families such as the Medicis began to fraudulently lend money without holding sufficient reserves – a necessary if criminal speculation – that the Renaissance and the ascendancy of European culture actually began’. The Medici nugget is an example of that simplification that occasionally leaps out at you in Money Mania (another good example is on page 21: ‘Because we are human and seem to have a preference

FEATURES | 41


money

for capitalism…'). But it’s to be expected in a book of this kind, with its scope; the simplification necessary to save its 310 pages from swelling to War and Peace dimensions. What it does share with Tolstoy is the presence of story arcs; in Money Mania’s case, these story arcs are theoretical financial ones, knitting together numerous boom and bust patterns, and which crescendo to a 'punishing finale'. To illustrate his arc theory, Swarup offers the example of the Great Depression of the 1930s; the crisis of the cumulative result of a series of financial panics beginning in the late 19th century that took in another depression (the Long Depression of 1873 to 1879) and a dramatic boom and bust in Florida real estate as it crescendoed to a crisis of society in the 1930s. “A crisis is usually an indicator that we’ve become carried away,” he says, “and that the system has structural fragilities that need to be addressed.” However, what people forget is that the institutions responsible for those fixes are subject to the same temporal myopia that afflicts us all. “Politicians make decisions around the electoral cycle, and will always be looking “A crisis is usually an indicator that we’ve to do things that ensure they become carried away and that the system has get voted into power,” Swarup structural fragilities that need to be addressed.” explains. “You could argue that our government is inflating a bubble in the here and now with the Help to Buy scheme, as they want results today.” According to Swarup, the way ahead requires understanding and perspective. He warns against fighting complexity with complexity, and the danger of being too prescriptive – pointing to the new postcrisis regulation that Western Europe has ushered in every decade for the last two centuries. He ends the conversation with another story: “In 1860s Britain, a number of bank runs occurred and two insurance companies went under. In response, this country passed the 1870 Life Assurance Companies Act and came up with the idea of having insurance companies publish their capital every year. This was basically to see what their solvency and balance sheets were like, but they were also asked to publish a note alongside explaining how they’d calculated it. After that, nothing really went bad for about 75 years – an eternity in finance.” From our modern-day perspectives we both chuckle at the very idea, but for Swarup greater transparency and a holistic view are an essential part of the fix. “If we understand what it is that we keep doing wrong,” he says, “we may not be able to get rid of crises – ups and downs being fundamental to our nature – but we can learn to manage them better and create a far more sustainable model of growth to look forward to.” D Money Mania: Booms, Panics, and Busts from Ancient Rome to the Great Meltdown, £20, by Bob Swarup is published by Bloomsbury, bloomsbury.com.

42 | FEATURES


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21/05/2014 12:10


SPOTLIGHT

sport

CRÈME de la COURT This month we’re gearing up for a Wimbledon experience unlike any other

No other sporting event quite measures up to Wimbledon in terms of its prestige. The Championship last year recorded a total attendance of 486,898 over the 13-day event, but millions more around the globe tuned in to watch Andy Murray take the Championship title at what is the world’s oldest tennis tournament. This year we’re catching all the action courtside in the utmost comfort and style. The Centre Court Skyview Suite offers the ultimate hospitality experience for you and your guests, which allows you to enjoy the very best of both worlds. Sip Pimm’s and enjoy first-class service, while you soak up the buzz and atmosphere from being right amongst the action. D keithprowse.co.uk © AELTC

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STYLE

INTERVIEW

SUIT

YOURSELF James Sleater, co-founder of Savile Row’s Cad & the Dandy, discusses the belief in dressing for the job you want, not the job you have WORDS: TIFFANY EASTLAND

C

lothes make the man; a centuries-old expression that’s perhaps just as relevant today. How often do we judge someone’s competence on the basis of how they are dressed? Researchers say constantly, and James Sleater, co-founder of Savile Row tailors Cad & the Dandy couldn’t agree more. In fact, Sleater, a former City banker, has observed just how much influence a suit can have on an individual’s entire future: “This is a true story, it sounds totally made up, but it is true. I was stopped in a street in the City about four years ago by a chap asking if I knew where there was a shop that sold suits. I said, bizarrely enough, my business partner and I own a tailors shop round the corner,” tells Sleater. The gentleman in his story, a public sector accountant, explained his budget was about £300, but nonetheless he was interested to see what they did. He visited their store for about half an hour, chatted, didn’t buy a suit but was obviously very keen. Sleater says: “He came back a week later to buy a suit, loved the whole process and experience, and how the suit made him feel and look. And then he came back six months later and bought another one and another one, and then one day he got pulled up at work for looking too smart and working too hard.” The story goes that the gentleman ended up handing in his notice and now works as an accountant in the private sector, on about four or five times his former salary. Sleater says the suit was definitely a part of that process: “It sounds like a cliché but a suit can definitely change you. The gentleman thought, well I’m young, starting my career, I should be working hard, I should be looking good, and if the company I’m working for is saying, hey, you look too smart, you’re working too hard, maybe this isn’t the place to be.”

LIFESTYLE | 47


Beyond quite evidently influencing the way others perceive us, studies suggest our dressing can also have a direct impact on the way we view ourselves. Enclothed Cognition, a twist on the scientific field of Embodies Cognition, is an area of increasing interest at the British Psychological Society which recently conducted an experiment which observed that when students completed a Stroop Test dressed in a white lab coat, they made half as many errors as those students wearing their own clothes. The conclusion: “Clothes can have profound and systematic psychological and behavioural consequences for their wearers. Clothes invade the body and brain, putting the wearer into a different psychological state.” In short, there’s absolutely something to be said for dressing the part. Sleater argues, though, that it’s not just about dressing well when you’re climbing the career ladder, he says it is just as crucial to dress well even when you have the job you want. “You’re still a role model for other people, and the whole point about dressing well isn’t for the fact that you must have a brand name on to say, I’ve got a Gucci T-shirt, haven’t I done well! That’s not what men’s dressing is about; it’s about subtle elegance. You don’t need it to shout.” Sleater says that the way a suit is cut, says as much about a person as the fabric, and argues that it says a lot more than having a label on the outside chest of a T-shirt. “I think it’s absolutely vital, because they’re setting the standards for the young guys,” he explains. So do the rules change with age? Sleater says: “I think there’s a point at which you have to stop wearing certain clothes. You know, like an older guy wearing a hoodie or tracksuit bottoms,” he laughs. He says that it’s just about dressing appropriately for your age and, fundamentally, if you care about how you look, you won’t want to put on a hoodie when you’re going out and about. But regardless

48 | LIFESTYLE


style

of age, one of the biggest mistakes men make in terms of dressing, or old, should own: “Classic blue. By classic blue, I don’t necessarily according to Sleater, is wearing their trousers too low: “It just upsets mean navy, because that’s always what you buy-off-the-peg. One me. That’s not to say that I want them to look like Simon Cowell, there that’s slightly lighter gives you a little more versatility.” He says it is a correct point at which they should wear their trousers. Trousers allows you to wear it as a jacket with jeans at the weekend, but above that are falling off your ass just make you look like a kid, and that’s not all else it helps you stand out in a subtle way. how you want to be presenting yourself in Sleater does, however, warn against a work environment. It upsets me. Stop sacrificing the quality of cloth to cut costs: “Clothes can have profound before I burst into tears.” Sleater says, that “The easiest way to buy a cheap suit, is to and systematic psychological what it comes down to is just dressing like use cheap cloth. But the thing that’s going and behavioural consequences to determine the life of the suit is the cloth you don’t care, and thinking it's only work. For Sleater, dressing has always played itself. Yeah, you can save a couple of £100 for their wearers. Clothes an important role: “At my school, we by using cheap Chinese, Indian or overseas invade the body and brain, didn’t have uniforms; we had a code of cloth, but fundamentally it’s the nuts and putting the wearer into a dress which meant you didn’t have the bolts of the suit, the cloth is the integrity different psychological state” burden of having to put on a horrible grey of the suit, as is the make.” He explains that suit, you could have a suit from wherever cloth that is a bit substandard might have you wanted. Everybody used to take pride in looking well, rather that initial lustre, but actually they’re the ones that shine the quickest. than these scallywag kids who walk around with ties up to here (he Sleater concludes: “Fundamentally, a suit made on Savile Row gestures to just below the neck). It was totally the opposite, so I’ve should still be here in 30 years, looking good.” Although, if the suit is always enjoyed that part of the process.” as powerful as Sleater suggests, we’re anticipating your first will most We asked Sleater to describe the staple suit every man, young certainly not be your last.

LIFESTYLE | 49


3 of the BEST MAN BAGS

IN THE NAVY

Astor San Remo Duffle, £795, Tumi, uk.tumi.com

FROM BROGUES TO BICYCLES

Let go of the Lycra, Berluti is about to restore style in the world of cycling BLACK BEAUTY

Signature Grain Leather Holdall, £1,195, Burberry, uk.burberry.com

COME TO LIFE

Life Medium Holdall, £289, Bric’s, Selfridges.com

T

he luxury leather goods house recently teamed up with Cycles Victoire to produce a unique bicycle, inspired by the delivery bikes used in the early 20th century. Despite appearances, this bicycle boasts the very latest in modern features and is fitted with a made-to-measure carrier. To complement the collaboration, Berluti has designed a range of special accessories, including, a bike frame bag, a handlebar bag, bike toe-clip straps and a pair of cycling shoes made from supple Vitello Amazon leather. These items are now available as special orders from Berluti boutiques in London. D berluti.com

 JUST IN: THOMAS ROYALL SS14  Thomas Royall has unveiled its inaugural S/S 2014 collection, so we’ll be looking for every opportunity to be poolside. This season’s shorts are mid-length, fitted and feature signature detailing, including the brand's iconic azure-blue waistband, and were developed using performance-rich, swim-friendly and fast-drying fabrics. Each of the styles includes a thick waist-cord with ingot metal toggles and a form-fitting internal lining. The collection has a healthy offering of attentiongrabbing digital prints, complemented by a little less daring but colour-rich cross section of block shades, including indigo blue, powder pink, navy blue and canary yellow. D thomasroyall.com

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HIs style

 Editor’s Pick 

D The Hubert, £POA, Joseph Cheaney & Sons, cheaney.co.uk

TRUNK SHOW

THE KING AND QUEEN

PUMA has again teamed up with Alexander McQueen, and their latest collaboration celebrates the iconic PUMA King football boot and the game itself. Created for the legendary Eusébio in 1968, the PUMA King has been highlyregarded throughout the brand’s history for its performance and innovative contribution to football. This season, the Alexander McQueen brand leaves its own mark on the icon and uses its craftsmanship and attention to detail to unite tradition and technology. As part of the collaboration, not one but two stunning limited-edition iterations have been handcrafted using

the very highestquality materials. To mark this occasion, both brands have commissioned a short film, shot in Italy, illustrating the production process while capturing the very essence of this artisanal project.

When you look good, you feel great, but the process of getting there is often anything but enjoyable. The Chapar, a unique men’s styling service, offers busy gents a hassle-free shopping alternative. This clever concept starts online and continues with an over the phone consultation with one of The Chapar’s expert stylists, who according to the customer's, taste, lifestyle and preferences, compile a bespoke edit of suitable items. Just 48 hours later, a personalised trunk is delivered to your door with items assembled into suggested outfits. The customer pays for what they want to keep and The Chapar collects the rest for free. There are no membership fees, no shipping costs and no obligation, just absolute ease. D thechapar.com

D puma.com

HUNTING GROUND

Heritage footwear brand Hunter has announced the launch of its first ever, global flagship store in London. Come autumn, Hunter will take up residence on Regent Street, which is a key milestone in the development of the brand, according to James Seuss, CEO of Hunter. Best-known for its wellington boots, the brand is expected to showcase all of its new product categories inside the new 5,300 sq. ft store. Hunter will make its debut with its Autumn/Winter 2014 collection, which includes, outerwear, knitwear and accessories. D hunter-boot.com

LIFESTYLE | 51


GROOMING

FIGHTING FATIGUE This month we’re targeting tiredness with three treatments that promise to revitalise in under an hour WORDS: tiffany eastland

VOYA OCEAN FRESH FACIAL EXPERIENCE, The Landmark London Spa & Health Club Energise and plump tired-looking skin with a decadent facial experience at The Landmark London Spa & Health Club. The Voya Ocean Fresh Facial Experience is truly organic and a highly-effective treatment that targets the signs of fatigue using seaweed for its active antioxidants. The treatment starts with a gentle exfoliation using finely ground, wet organic seaweed, before seaweed-infused gel is applied as a mask to deeply hydrate and detoxify the skin. A light head massage completes this treatment so you walk out not only looking well-rested, but feeling it too. D Voya Ocean Fresh Facial Experience, 45 mins, £55, The Landmark London Spa & Health Club, landmarklondon.co.uk

MORNING AFTER RESCUE FACIAL, Nickel Spa for Men Hide all the evidence of a late night and far too much alcohol with the Morning After Rescue Facial at the Nickel Spa for Men. This highly-effective treatment offers an intense 30-minute hit of rest and relaxation so you walk out feeling and certainly looking a little less fatigued. The treatment starts with a relaxing face and neck massage, before the skin is cleansed and treated with an enriching mask. For that final energising hit before you face the world, the popular Morning After Rescue Gel is applied. Its key ingredients, including caffeine, soy protein, alcohol and menthol, give you that extra boost, leaving you feeling fresh-faced and on form. D Morning after Rescue Facial, 30 mins, £45, Nickel Spa for Men, nickelspalondon.co.uk

Anti-Fatigue Eye Serum, £29, ClarinsMen, clarins.co.uk Fatigue Fighter, £30, ClarinsMen, clarins.co.uk Morning After Rescue Gel, £17.85, Nickel, nickelspalondon.co.uk

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Facial Fuel Eye Alert, £22.50, Kiehl’s, kiehls.co.uk

REVITALISE & REFRESH EYE TREATMENT, Gentlemen’s Tonic Awaken tired eyes with the increasingly popular Revitalise & Refresh Eye Treatment at Gentlemen’s Tonic. Whether those dark circles are a mark of office overtime, or client wining and dining, this quick treatment guarantees to firm, tone and revitalise in just 20 minutes. While the focus is on the eye area, the treatment does include a general cleanse and exfoliation, followed by the application of an eye mask and eye cream. The experienced therapists will also perform an emphatic massage to drain the area and leave you bright-eyed even if you feel anything but. D Revitalise & Refresh Eye Treatment, 20 mins, £22, Gentlemen’s Tonic, gentlemenstonic.com

Anti-Fatigue Eye Gel, £22, Clinique For Men, Clinique.co.uk

Sin Empowering Cream, £90.50, Shiseido Men, shiseido.co.uk


F I T N E S S

transform yourself “The go to place for Body Transformations” Men’s Health magazine “One of Britain’s most beautiful gyms” Stylist Embody Fitness...

An industry leading personal training facility located in the heart of the City of London. A team of Olympic athletes and world class trainers delivering unprecedented results. Find out what an 8-12 week programme could do for you. Book your free consultation now. www.embodyfitness.co.uk 1 Bartholomew Lane, London, EC2N 2AX


Summer

Suiting Warmer weather calls for light linens and this season a pastel palette is de rigueur FASHION Lucie Dodds PHOTOGRAPHY Glen Burrows


THIS PAGE: White Pleat Front Cotton Shirt, £145, Apricot Linen Suit made-to-measure, £2,795, all Gieves & Hawkes, gievesandhawkes.com; White Silk Pocket Square, £29, Thomas Pink, thomaspink.com


THIS PAGE: White Linen Shirt, £175, White Linen Shorts, £175, both Anderson & Sheppard, 17 Clifford Street W1; Orange Linen Cashmere Scarf, £195, Gieves & Hawkes, as before; Orange Suede Belt, £65, Hackett, hackett.com OPPOSITE PAGE: Blue Linen Jacket, £595, Blue and White Print Linen Shirt, £125, White Cotton Trousers, £145, Blue Silk Pocket Square, £45, all Chester Barrie, 19 Saville Row W1; Suede Leather Low Top Shoes with Crêpe Sole, £350, Burberry, uk.burberry.com


THIS PAGE: Off-white Linen Pleated Oversize Shirt, £350, Windsor Red Linen Slim Tie, £195, Navy Linen Easy-fit Slim Leg Trousers, £495, all Burberry, as before OPPOSITE PAGE: Yellow Seersucker Waistcoat, £250, Jacket, £600, Pale Blue Chinos, £100, all Hackett, as before; White Linen Shirt, £175, Anderson & Sheppard, as before; Silk Spot Pocket Square, £35, Thomas Pink, as before


Grooming: Darren Hau at Lovely Management using Redkin and Nars


A genuine Starck.

Design by Philippe Starck

The bathroom by Philippe Starck.

More nuances. More elegance. More versatility: The Starck bathroom series with coordinating furniture. Just one example from the comprehensive Duravit range – sanitary ceramics, bathroom furniture, accessories, bathtubs, wellness products and saunas. To find out more: Phone 0845 500 7787, info@uk.duravit.com, www.duravit.co.uk

UK_TheCityMag_S2_006_297x210mm.indd 1

19.02.14 15:52


COLLECTION

TIMEPIECE

SECOND TIME ROUND Is there a better way to make a statement this spring than with Richard Mille's showstopping RM 11-02 Automatic Flyback Chronograph Dual Time? We don't think so

Watch connoisseurs will be thrilled to learn of the subtle development to Richard Mille’s sought-after RM 011 model, which launched seven years ago. The updated model, the RM 11-02 Automatic Flyback Chronograph Dual Time Zone (£116,500), includes a UTC feature for the indication of a second time zone with a SuperLuminova-filled hand, along with the traditional functions of the original, such as the Flyback Chronograph, annual calendar with oversized date, 60-minute countdown timer and 24 hour totaliser. The PVD-treated titanium movement is fitted with two winding barrels and an automatic winding rotor with variable geometry supplying circa 50 hours of power reserve. Watch geeks will no doubt recognise RM 011 design elements on the new timepiece. D richardmille.com

LIFESTYLE | 61


MARQUES – of –

DISTINCTION Now, more than ever, it’s possible to procure a decent piece of wrist candy without losing a substantial slice of your savings. This month, as Tudor prepares to re-enter the UK market, we profile the thoroughbred brands offering high-performance timepieces at prices that won’t break the bank WORDS: RICHARD BROWN

W

hile the costliest creation at this year’s Baselworld came with a ludicrously lofty £33 million price tag (Graff ’s candy-coloured Hallucination is encrusted with 110-carats of diamonds and is billed as the most ‘valuable’ watch ever made), it was timepieces from brands operating at the other end of the price spectrum that most excited the value-for-money-minded. As brands have moved to bolster their bread-and-butter offerings, never before has there been such a wide variety of accessibly-priced mechanical timepieces – quality watches that you can do more than just dream of owning. The following brands package sound mechanics in some of the industry’s best-looking cases, keeping your bank manager off your back while commanding appreciative nods from those in the know.

Frédérique Constant Cleverly named as to evoke images of octogenarian watchmakers plying their trade in centuries-old workshops, Frédérique Constant was actually formed just 26 years ago. Today, it sells more than 120,000 watches per year to people in more than 100 countries. Anchored to the centre of the affordable watch segment, the brand offers classicallyinspired watches for the right side of £4,000 – some of which feature movements that have been designed, produced and assembled in-house. At 42mm, the company’s Slimline Moonphase is a beautifully proportioned piece, perfect for dressy occasions. Choose between a variety of dials, all of which feature an attractive sunburst pattern, and either a leather or stainless steel strap. A snip at £2,840.

Above: Slimline Moonphase, £2,840 Frédérique Constant

62 | LIFESTYLE


COLLECTION

Montblanc More fool the person prejudiced against this brand’s watches simply for the fact that ‘Montblanc makes pens’. It does. But it also makes some damn fine timetelling devices too. Inspired by the exploits of French watchmaker Nicolas Rieussec (who invented the first chronograph in 1821), Montblanc’s supremely handsome Nicolas Rieussec pieces form the brand’s halo collection. At less lofty prices, the Meisterstück Heritage line, launched earlier this year, offers smart aesthetics, refined details and highly legible dials. Taking design cues from the famous pen that inspired the collection, the line comprises the Automatic (£1,870), the Date Automatic (£1,690) and the Moonphase (£2,965) – all well-made, wellpriced and undeniably pretty to look at.

Christopher Ward Christopher Ward was founded in 2012 on a boat on the River Thames with one mission; to create ‘the cheapest most expensive watches in the world’. The company would do so by selling direct to the public via its website (the first luxury watchmaker to do so) and by not investing in any sort of celebrity endorsement. The brand has reported year-on-year growth figures of around 60 per cent ever since. To celebrate its 10th anniversary, Christopher Ward has just unveiled the C5 Malvern Slimline, a watch inspired by the company’s first ever model, the C5 Malvern Automatic. At 40mm, the Slimline is 2mm wider than its predecessor and has wider lugs (20mm) but, importantly, is slimmer by 2.10mm at only 8.70mm. For a ridiculously wallet-friendly £399, you get a handwound mechanical movement with 38-hour power reserve and one of the best-looking models from the brand to date.

Clockwise from top: Meisterstück Heritage Moonphase, £2,935, Montblanc; Clifton Chronograph, from £2,600, Baume & Mercier; C5 Malvern Slimline, £399, Christopher Ward

Baume & Mercier One of the forerunners in the accessible luxury market, Baume & Mercier recently upped its game and moved into the sphere of serious watchmaking – its Clifton 1892 Flying Tourbillon (£38,000) propelled the brand into a position amongst the industry’s heavyweights. Yet it’s within the mid-range price bracket that the brand truly excels. For evidence, see the Clifton Chronograph (from £2,600) that arrived in stores in April. With a Swissmade, self-winding movement, a day and date display and sapphire crystal case back, the watch offers wearers devilish good-looks at down-to-earth prices.

LIFESTYLE | 63


Longines By far the biggest-selling player in this list, Longines shifts more watches per year than almost any other manufacturer on the planet. Having kept the time at 14 Olympic Games – including at the first modern-day meet in 1896 – the company celebrated its 170th anniversary in 2002, a year after it produced its 30 millionth watch. Numbers aside, the brand is more than a bulldozing marketing machine. The reason for its success is simple: it sells good looks and good quality at accessible prices. Longines’ collections stretch from the classic to the contemporary and the company provides a particularly extensive range of ladies watches, the PrimaLuna being a particularly elegant option. For men, the recently launched Heritage 1935 (£1,310), with its cushionshaped steel case and fluted crown, is a monochrome, matt-black-dialled thing of beauty.

Maurice Lacroix Tudor Tudor owes its very existence to the gap that exists between the low-end, mass-produced watch market and the high-end, high-grade world of premium horology. It was, after all, built to fill that exact void and, 68 years after Rolex founded the company, it continues to excel at what it set out to do, offering the signature looks of its sibling brand at prices that won’t make too big a dent in your savings. Baselworld 2014 saw the brand launch the military-inspired Heritage Ranger (£1,940), which, equipped with a 41mm brushed stainless steel case, leather strap and luminous numerals, will make a great addition to any watch collection. Expect the brand to do very well indeed when it enters the UK market this September.

From top: PrimaLuna, from £1,790, Longines; Heritage Range, £1,940, Tudor Rght: Pontos S Supercharged, £3,750, Maurice Lacroix;

64 | LIFESTYLE

Thanks to a mesmerising seconds’ indicator that turned on its axis every quarter of a minute in horizontal and vertical cycles, the Maurice Lacroix Masterpiece Seconde Mystérieuse proved to be one of the stars of the show at Baselworld 2013. Twelve months later and the brand was back, this time impressing show-goers with what it does best, mid-priced mechanical watches that both look and feel more expensive than they are. The Pontos S Supercharged (£3,750) weighs in at a portly 48mm, making it the biggest model in a line that debuted in 2012. Inside you’ll find a rare but robust ETA-produced ‘Valgranges’ calibre that will provide for a 46-hours power reserve. The watch also features a nifty inner rotating bezel connected to a start/stop pusher at two o’clock. It comes in steel or a PVD black version. Get one, if you’ve got a big enough wrist for it.


COLLECTION

Raymond Weil

Ball

With its conservative name and largely classical designs, you could be forgiven for thinking that Raymond Weil has been making watches for centuries. It hasn’t. That doesn’t mean its attractive designs aren’t matched by sound mechanics. They are. Established in 1976, the company is now run by Weil’s son-in-law and two grandsons, making it one of the few Swiss watch brands still in the hands of its founding family. Music inspires many of the brand’s creations, accounting for partnerships with the Royal Albert Hall and, since 2008, the Brit Awards. The company recently unveiled the Nabucco Rivoluzione II (£2,940), an update to a line that has existed since 2007. At 46mm in diameter and 15.25mm thick, it’s a masculine piece, made even more so by bright, contrasting red or yellow (whichever you choose) hands. The watch is notable for being the brand’s first to feature a ceramic bezel.

It’s the American brand with the Swiss-beating heart, relaunched in 2002 to offer some of the most well-made, value-for-money timepieces on the market. For prices that range from around £1,200 to £3,600 (its BMW range excluded), Ball offers mechanical movements, in-house complications and more patented technology than you’ll find inside watches three times the price. Look out for the Engineer II Magneto S (£2,510), a watch that protects against magnetism by surrounding its movement with a brand-new Ball-produced alloy, and the equally clever Engineer Hydrocarbon Black (£2,190), which, by employing luminous paint on its black ceramic bezel for the first time, allows its wearer to tell the time even in the dark.

Hamilton Marrying American styling with Swiss precision, and offering it at prices that start in the hundreds rather than the thousands, it is perhaps no surprise that Hamilton is the United States’ number one watch brand. Since a debut appearance in the 50s classic The Frogmen, Hamilton watches have appeared in more than 300 Hollywood films, spotted on the wrists of everyone from Elvis Presley to Russell Crowe. Collections are split into two lines: Khaki, which draws inspiration from military pieces, and Classic, which comprises the company’s more understated creations. For a hard-wearing watch with a big personality, see Hamilton’s Take-off Auto Chrono Limited Edition, complete with bullhead pushers and a quick-release case that can be removed from its straps to be stored in a suitably-showy display box. Yours for £2,360.

Ebel Ebel is not so much an under-the-radar brand as one that doesn’t always receive the same attention as its shoutier stablemates. The company has been making watches out of La Chaux-de-Fonds, Switzerland, since 1911, including a period during WWII when it manufactured timepieces for the RAF. Most of its pieces flit around the £2,000 mark and the brand is esteemed perhaps more for its women’s watches than for its men’s. Ebel’s Onde Diamond (prices start from £3,100) is a tasteful, 30mm timepiece that’s all sweeping lines and sculptured curves. For men, the Classic comes with an automatic movement, 42-hour power reserve and is water resistance to 50m. Not bad for a watch that costs £2,200.

Right: Nabucco Rivoluzione II, £2,940, Raymond Weil; Take-off Auto Chrono Limited Edition, £2,360, Hamilton; Engineer II Magneto S, £2,510, Ball; Classic Automatic, £2,200, Ebel

LIFESTYLE | 65


TICKETS ON SALE FOR

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For VIP & Hospitality Tickets oliver@cityevents.uk.com 020 7936 5284

24/04/2014 13:20


COLLECTION

TIMEPIECES 

For treasured timepieces, horological heirlooms and modern masterpieces, watch this space... BY RICHARD BROWN

Diamond Diva

It was designed, we’re told, for divas looking to unite their love of diamonds with an appreciation of high-end horology. No surprise then, that Roger Dubuis’ new Velvet collection sparkles like the best of them. Fitted with a 172-component calibre – designed, developed and perfected in-house, to the industry’s highest possible standards – it also has the mechanical credentials to boot. In case that wasn’t enough, ladies are invited to select the watch’s accompanying precious stones from a range that includes rubies, emeralds and sapphires. Choices, choices, choices. D The Velvet Collection by Roger Dubuis, POA rogerdubuis.com

 CUTTING EDGE  Each month we select our timepiece of the moment from the watch world’s most exciting creations:

This sporty, stainless steel 5960/1A by Patek Philippe has to be one of the most handsome watches released this year; add this model to your horological wardrobe and dress to impress Left: 5960/1A, £36,920, Patek Philippe

In-House Investment

The Oris 110 might have flown under the radar had it not been for the calibre housed inside. Instead, with that movement having been developed in-house, the first from the brand in 35 years, the watch demanded attention the moment it was unveiled. Launched earlier this year to mark Oris’ 110th anniversary, the 110 comes equipped with an astonishing – and industry-leading – ten day power reserve. ’Tis a pretty little thing too. Regrettably, only 110 will be made in stainless steel (£3,750) and 110 in rose gold (£9,950) so if you want one, get moving. D oris.ch

Sea-Dweller Event

It’s one of the most recognisable models in watchmaking, worn by everyone from CEOs to deep-sea divers. This July, as Fraser Hart Stratford hosts an evening dedicated to the timepiece, guests are invited to get up close and personal with the latest incarnation of the Rolex SeaDweller, the Sea-Dweller 4000. Those invited can expect themed cocktails and canapés and a special guest in the form of Dr John Bevan, an authority in the diving world, who will be sharing fascinating anecdotes about deep sea exploration. D Friday 11 July, 6.30-11pm Fraser Hart, Westfield Stratford

LIFESTYLE | 67


the

Trail-Blazer Robin Swithinbank takes a closer look at industry heavyweight TAG Heuer, a watch brand that’s on track to become Switzerland’s number one chronograph producer

68 | LIFESTYLE


COLLECTION

T

he watch industry is often accused of moving at a glacial pace when it comes to – cliché klaxon – moving with the times, but touting that opinion nowadays is like throwing a Little Britain catchphrase into conversation and expecting people to roll about laughing. That time is long gone. Over the last decade the watch world has been transformed, metamorphosing from a sleepy cottage industry into one hurtling at breakneck speed towards the mainstream. Some might say it’s already here. If you’re not sure, ask yourself the question; 10 years ago, would you have been reading a story about luxury watches in a lifestyle magazine? Maybe you would. Maybe you’re a lifelong watch nut. But more than likely you wouldn’t. Times have changed. To understand how, and perhaps why, it wouldn’t hurt to look at TAG Heuer, one of the few brands in the luxury spectrum that could claim to be a household name at the turn of the millennium.

Back then, it made lots of F1 watches sported by then-McLaren drivers David Coulthard and Kimi Raikkonen. There was an ugly line called the Kirium, and the Carrera and the square-cased Monaco, once made famous by Steve McQueen, had only just been revived. Most of its watches were quartz, and those that were mechanical relied on third party movements dressed up as TAG Heuer calibres. It was all a bit so-so. But in 2004, everything changed rather dramatically. TAG switched tack, announcing the Monaco V4 concept to a stunned audience at the Baselworld watch fair that year. The V4 was a spectacular, if exceptionally ambitious idea, replacing the traditional gearing system found in a mechanical watch with one that used belts, not unlike a car engine. It would be five years before the concept became something you could actually buy, but the intention was clear. TAG Heuer was innovating, getting back to its avant-

LIFESTYLE | 69


collection

headline pieces and price tags to match, it gave TAG the means garde roots. Since then, a raft of apparently impossible high– and the belief – to start going it alone. end mechanical watches has joinedthe V4, in what the brand Last autumn, the story took another giant leap forward. now calls its Haute Horlogerie collection, including a 5/10,000th TAG announced it had begun producing CH 80, a second of a second mechanical chronograph and a calibre regulated by in-house chronograph calibre (that it had designed from magnets, traditionally the arch-enemy of mechanical watches the ground up), in a new state-ofand their metal movements. facility (its fourth) in the The latest addition to what The general consensus is that the-art unremarkable village of Chevenez, TAG now calls its Haute Horlogerie a brand needs £13.5 million in the north-western corner of collection is the Monaco V4 to launch a new movement Switzerland. The announcement Tourbillon, launched this year on came with a dramatic prediction. the 10th anniversary of the original By 2015, it was said, the Chevenez manufacture wouldbe belt-driven wonder-piece. It follows the same principles as its producing 100,000 units a year, with the split between Calibre forbear, only with the addition of a tourbillon – and costs a 1887 and CH 80 roughly even. This, claimed TAG, would make princely £110,000. The question that arises from this is ‘why?’. it Switzerland’s number one chronograph brand, a significant Here we have a mainstream brand once known for making step for a company that only four years previously sporty watches aimed at the younger mantackling didn’t make an in-house movement. nichefine watchmaking challenges. Again, why? The first watch carrying the new calibre was The reason became clear in 2009 when released at Baselworld this year. Dubbed TAG unveiled Calibre 1887, its first 'inthe Carrera CH 80, its subdials are laid house’ chronograph for 40 years. The out at 3, 6 and 9, a more traditional look new calibre was built against a Seiko compared to Calibre 1887’s 6, 9, 12 blueprint, but nonetheless, it was arrangement. The movement has an 80TAG’s.For decades, TAG – like the hour power reserve (hence the 80 in the majority of Swiss watch brands – had name; CH stands for Chevenez) despite been dependent on third-party suppliers being just 6.5mm thick – a power-tofor its movements. Most of these came thinness ratio TAG is rightly proud of. from ETA, a Swatch Group company and TAG says it has invested £27 million into therefore a stablemate of brands in TAG’s these movements so far, which means there’s competitive set, chiefly Omega. Because of a lot riding on its success. “It’s important to be an ancient quirk in Swiss law, ETA was obliged able to communicate that we produce in-house,” to supply movements to all-comers, rivals says TAG Heuer’s CEO, Stéphane Linder. “It gives included, much as if Mercedes were forced to make TAG Heuer wearers a feeling of exclusivity and engines for BMW. In the early 2000s, the group quality craftsmanship, and the knowledge they have announced it had asked the Swiss Competition a movement that is a bit more special than the others.” Commission (COMCO) to look intogetting this Arguably, it does far more than that. It plants TAG law overturned. It argued it could no longer make Heuer’s feet firmly on independent ground and gives enough movements for its own brands, which was it a lifeline for when Swatch Group pulls the plug. bad for business, and that relying on one supplier It’s also just one example of an industry-wide shift. was stifling the industry. Leaving the rest to fend for themselves IWC, Panerai, Hublot, Breitling, Maurice Lacroix, NOMOS would spark creativity, they said. Necessity is the mother of all Glashütte, Oris – the list of watch companies gunning to invention, after all. join the ranks of manufacture brands is growing all the TAG Heuer was one of the first to spot that Swatch time. One day the flow of movements from Swatch Group Group might reasonably win. It recognised it would have to will dry up (it’s already started), and to survive, brands are find other suppliers, or start investing heavily in making its going to have to take a leaf out of TAG Heuer’s book and own movements; but building a movement from scratch is go their own way. Quickly. Glacial pace of change? The a paralysingly expensive business. The general consensus in industry simply can’t afford to sit around and watch while the industry is that you need £13.5 million to launch a new the ice melts. movement – not exactly chicken feed, even when you’re a global brand like TAG. How then to raise that kind of cash? The answer was in the Haute Horlogerie collection. With D TAG Heuer, Fraser Hart, fraserhart.co.uk

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Swiss movement, English heart

C9 HARRISO N J U MP IN G HO U R MK II – L IM ITED EDITION Bespoke ETA 2824-2 Jumping Hour automatic modification by Master Watchmaker Johannes Jahnke / Each piece, of only 250, personally assembled by Johannes and his team in Switzerland / 43mm, surgical grade stainless steel case with sapphire crystal and transparent case back / CITES certified, premium grade, Louisiana alligator deployment strap / 5 year movement guarantee

255_ChristopherWard_TheCity.indd 1

15/05/2014 09:24


collection

JEWELLERY BOX 

Jewels, gems, pearls and diamonds; the essential components of any lady’s jewellery collection BY OLIVIA SHARPE

Showstoppers at Masterpiece

Among the art and antique collectors who showcase annually at Masterpiece London are also a number of master jewellers who present their coveted collections at the summer fair. One of these is Mayfairbased jeweller Hancocks, which is choosing to celebrate the fair’s fifth anniversary by displaying works from some of the finest jewellers from the canon of jewellery history, including Cartier, Boucheron and Pierre Sterlè. These will be showcased alongside pieces from one of the 21st century’s most notable collections, owned by The Duke and Duchess of Windsor. Key pieces include a retro rose gold bangle by Boucheron and a stunning double row diamond ‘Ribbon’ motif necklace by Pierre Sterlè. Other jewellery exhibitors at the fair will include Grima, Theo Fennell, Fred Leighton, Verdura and Wartski, to name but a few.

Master Diamonds

From top: Sterle diamond bow necklace; Boucheron bracelet

Only in recent years have buyers begun to realise the financial benefits of investing in fancy coloured diamonds. Unlike colourless diamonds where margins are slim, prices for fancy colours (the most rare in the diamond family) continue to increase. This year, diamond house De Beers pays tribute to its 125-year-old heritage with the 1888 Master Diamonds: a unique collection of exceptional coloured diamonds. Ranging in weight from 0.68-carat to 10.10-carat, the pieces come in blue, yellow, grey and cognac. Each piece has been hand-picked by the De Beers Institute of Diamonds. D debeers.com

D Masterpiece London 2014 26 June - 2 July masterpiecefair.com

 CUTTING EDGE  The significance of Elizabeth Gage’s work in the world of jewellery design is irrefutable and was recognised by the industry in 2010 when, after more than 40 years of work, her jewellery was entered into the permanent V&A collection. Gage’s Belgravia store continues to house her coveted collections:

“The garden is both my anchor and my reservoir of ideas when designing collections. The boldness, contrast of shape and colour are reflected in my jewels – constantly changing, they remind me that I, too, must change and so must my designs” – Elizabeth Gage D The House of Elizabeth Gage elizabeth-gage.com

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Jewellery & Watch London

As of this year, this prestigious event is relocating to Chelsea’s Saatchi Gallery. Previously held at Somerset House, since its inception in 2012, the inaugural show has grown considerably and this year it has announced that more than 60 jewellery and watch brands will be exhibiting, hence the move. Confirmed jewellery brands in attendance include Lalique, Roberto Coin, Chavin Jewellery, Rosato and Fei Liu Fine Jewellery. Visit the website for more details. D Jewellery & Watch London, 18-19 June jewelleryandwatchlondon.com


RUN WILDbracelet london_UK 13/04/12 09.37 Pagina 2

From the Honeycomb Eternelle Ring Collection

33 Albemarle Street - Mayfair, London WIS 4BP - Tel. 020 7629 5616 MILANO, VENEZIA, FIRENZE, CALA DI VOLPE, CAPRI, PARIS, MONTE CARLO, LONDON, MOSCOW, NEW YORK, CHICAGO, ASPEN, BEVERLY HILLS, TOKYO, OSAKA, HONG KONG, SIDNEY WWW.BUCCELLATI.COM


COLLECTION

2 4

Garden of Eden

1

Fly by night with bejewelled dragonflies, butterflies and bees

5 11 3 6 10

9 8 7

D 1. Amethyst and diamond bee drop pendant, £2,995, Theo Fennell, theofennell.com D 2. Urban Jungle gold-plated Swarovski crystal necklace, £1,295, Erickson Beamon, net-a-porter.com D 3. Binsect spider earrings, £85, Tom Binns, matchesfashion.com D 4. Fantasia earrings in 18-karat white gold, diamonds, pink sapphires and micro-mosaic, POA, Sicis Jewels, sicisjewels.com D 5. Butterfly gold-plated Swarovski crystal earrings, £430, Erickson Beamon, net-a-porter.com D 6. Stone embellished earrings, £433, Ermanno Scervino, farfetch.com D 7. Gold-plated and silver-plated Swarovski crystal dragonfly ring, £335, Roberto Cavalli, robertocavalli.com D 8. Honeybee gold-plated, crystal and Czech stone bracelet, £98, J. Crew, net-a-porter.com D 9. Printemps Mon Amour ring in 18-karat yellow gold, sapphires and micro-mosaic in blue and yellow tones, POA, Sicis Jewels, as before D 10. Candy coloured flower drop earrings, from a selection, Butler & Wilson, butlerandwilson.co.uk D 11. Papillon Royale ring in 18-karat white gold, diamonds, sapphires and micro-mosaic, POA, Sicis Jewels, as before

LIFESTYLE | 75


HER STYLE 

Look perfectly coiffed this season with three summer dos from the world's top hair stylists

The style: Beach waves The show: Blumarine, London Fashion Week S/S14 styled by: Morrocanoil

Loosely waved, natural-looking hair creates a relaxed, summery look. “We did looks that emphasised moving, rich, beautiful hair that was glamorous and sexy as well as cool,” says stylist James Pecis.

 After washing, apply the Moroccanoil Hydrating Styling Cream at the roots of your damp hair.  Brush the cream through the body of

your hair then blow-dry using a hair dryer and paddle brush for a smooth finish.

 Use a curling iron in alternate directions to create loose, natural waves and pin each curl into place using bobby pins for a light, classic set.  Take the pins out and comb the hair through using your fingers to prevent any static or flyaways.  To finish, spray on a little hairspray. Certified Organic Perfect Hold Hairspray, £30, Intelligent Nutrients, intelligentnutrients.co.uk

Behind this style was Nick Irwin, creative director at TIGI. He described the look as “confident yet unkempt, with a quiet nod to early 90s grunge, but kept clean.” The resultant effect is a straight and sleek style, with a tousled finish which gives the hair texture and keeps it from looking too prim and proper.

 Apply Catwalk by TIGI Lightweight Mousse and work through damp hair before drying, to give your hair a lightweight hold and natural movement while avoiding flyaways.

 Take your hair dryer and barrel brush

and dry from root to tip to add volume and combat frizz.

 Finally, use a little Fudge Elevate Styling Powder on the roots, teasing it through with your fingers for a tousled finish. This lightweight but strong powder retains moisture while adding volume.

Hydrating Styling Cream, £23.75, Moroccanoil, moroccanoil.com

Junior BN2 Hairbrush, £63.75, Mason Pearson, masonpearson.com

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The style: Straight & tousled The show: Antipodium, London Fashion Week S/S14 styled by: TIGI

3200 Compact Hairdryer, £69.95, Parlux, parlux.co.uk

Elevate Styling Powder, £11.95, Fudge, fudge.com

The style: Sleek low ponytail The show: Mario Schwab, London Fashion Week S/S14 styled by: GHD

Top stylist Sam McKnight wanted to reflect the linear contours of the collection in the hair, creating a soft, feminine look with the hair swept back off the face, instead of a harsh parting.

 Work the KMS California Silk Shine Serum all the way through damp hair for a silky shine and frizz control, then blow-dry straight and flat before sweeping the front section of the hair back off the face.  Straighten hair using the GHD Eclipse Styler, to ensure a sleek, poker-straight finish.  Gather all the hair at the nape of the neck and part three ways. Next, fold the right and left sections over the middle section as if you’re going to start creating a braid. Secure the style with a large hair clip or slide.  Finish with Bumble and Bumble's Defrizz, working it through to act as a barrier against humidity and to control flyaways. Silk Sheen Serum, £13.50, KMS California, kmscalifornia.com

Catwalk by TIGI Lightweight Mousse, £11.95, TIGI, tigihaircare.com

Eclipse Styler, £145, GHD, ghd.com Defrizz, £12.50, Bumble and Bumble, bumbleandbumble.co.uk


HER style

BEACH CHIC Resort Style 

For those with a sunny disposition 'Rockstud' Thong Sandal, £513.28, Valentino Garavani farfetch.com

THE BUSINESS OF BESPOKE

Frankie bikini set, £159, Pistol Panties, london-boutiques.com

London-based designer Susie Stone says: flatter your figure with made-to-measure WORDS: TIFFANY EASTLAND

F

or centuries, gents have flocked to Savile Row for the bespoke services of its tailors. To this day made-to-measure men’s suiting remains a popular investment, so we asked Susie Stone, the London-based madeto-measure designer, why so few women are willing to jump on the bespoke bandwagon. “I think women can feel under pressure to keep up to date with the latest trends, while men’s suiting remains for the most part, classic and timeless. I think there is a strong feeling right now, particularly for work and occasion wear, that women actually do want the same ethos as Savile Row in terms of quality, classic design that stands the test of time,” she explains. This is certainly true of bridal couture, which Stone finds somewhat of a surprise considering most brides won’t blink at going for full couture, yet feel nervous at spending money and a few weeks on a bespoke dress they might wear to work every day. But for Stone, what it really comes down to is reconnecting the client with the dress-

making process: “We want to put the choice back in the hands of our clients so that they get exactly what they want from their clothes and invest in pieces that truly define their style.” Stone says you're giving yourself the upper hand by having a few bespoke garments: “When you are busy and working hard you need to look and feel amazing from the moment you get dressed, and by having a few key pieces that fit perfectly, you're giving yourself an instant head start.” So how does it work? “Every garment is a collaboration between the designer and customer," Stone explains. After establishing what you, the client, wants and needs from the garment, her team advises on the best cut, fabric and colour. The process usually starts with a sketch, is followed by a fitting and ends with a garment that looks and feels luxurious, yet is absolutely effortless to wear.

Paisley-printed SilkChiffon Pareo, £220, Etro, net-a-porter.com

CE600S in Crystal/ Fuchsia, £POA, Chloe, marchon.com

Chain Canvas Bag, £320, Heidi Klein, heidiklein.com

D To book a bespoke consultation with Susie Stone, visit susiestone.com

Emilia Wickstead

Katherine Hooker

The British-based and New Zealand born designer offers an increasingly popular made-to-measure service in Belgravia.

Katherine Hooker’s customers are able to select from a range of different fabrics, while her team advises on style and trims.

D 60 Bermondsey Street, SE1

D 28 Cadogan Place, SW1X

D 19 Ashburnham Road, SW10

MADE to MEASURE  MASTERS 

Susie Stone From bridal couture to bespoke workwear, Susie Stone designs unique, quality clothing for the independent, modern woman.

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L U X U RY S H O P P I N G & D I N I N G

WATCH WEEK 2014 From 30 June – 4 July, The Royal Exchange will host its inaugural Watch Week 2014. In the tercentenary year of the Government’s Longitude Act, The Royal Exchange honours John Harrison with a modern-day horology exhibition, with global luxury brands telling the story of watchmaking. Omega, Watches of Switzerland and Montblanc will lead the way in showcasing exceptional collections of timepieces, with chronograph experts on hand to welcome customers to the ultimate luxury experience. Bremont, the award-winning British

brand, produces beautifully engineered chronometers, and will offer signature experiences for watch lovers. Watchfinder once again demonstrate their extraordinary expertise of the inner workings of watch mechanics, and showcase rare and vintage timepieces. Antique jewellers, Kojis and Searle & Co. Fine Jewellery will preview extensive previously-owned timepieces for those customers looking for a story behind their beloved keepsakes. Fine jewellers Boodles, Tiffany & Co., Bulgari and Tateossian will highlight their

WATCH THIS SPACE

watch ranges in addition to their jewellery collections. Boodles will host the Patek Philippe collection showcased earlier this year at Art Basel. Smythson of Bond Street and Sage Brown Fine Leather offer beautiful luxury leather accessories; a must for the discerning watch collector. During Watch Week, masterclasses, exhibitions, showcases and horology experiences will take place in the courtyard and in stores. For more information see theroyalexchange.co.uk for updates

and Neil Armstrong were equipped with OMEGA timepieces. Limited to 1,969 pieces, this striking 45th anniversary wristwatch has been fitted with the caliber 1861, a manual-winding chronograph movement, and is offered in a special presentation box, complete with Certificate of Authenticity.

This July marks the 45th anniversary of man’s landing on the moon, and in commemoration of the hand in which OMEGA played, the brand has launched the Speedmaster Professional Apollo 11 45th Anniversary Limited Edition wristwatch. On this historic occasion, both Buzz Aldrin

omegawatches.com

T H E R O YA L E X C H A N G E . C O . U K


SIX OF THE BEST

Time Flies 

Roll Up, Roll Up 

On The Watch 

This unique timepiece reflects Bremont's craftsmanship and Boeing’s extensive experience in advanced material research. Crafted using Custom 465® Stainless Steel or Boeing aviation grade Ti-64 titanium, the Boeing Model 1 has been constructed with a bidirectional rotating bezel. This impressive watch can only truly be appreciated in the flesh.

Next time you jet off with a selection of watches, make sure they’re protected and safely stowed away. Featuring a removable suede padded roll, this travel watch case from Sage Brown Fine Leather accommodates two-three of your favourite watches. Its tubular design fits neatly into your luggage; while you can be rest assured it’s fastened securely with strap and buckle.

Tateossian recently impressed watch enthusiasts with the launch of its highly anticipated Skeleton collection. This striking range of timepieces feature exposed watch faces, showcasing the intricate and elaborate Japanese movement that lies within. This sleek yet industrial looking accessory is available in silver, rose gold and IP matt black.

Bremont, Boeing Model 1, £3,595

Sage Brown Fine Leather, Watch Roll, £139

Tateossian, The Skeleton Watch, from £495

Cocktail Hour 

Travel In Time 

Calendars and Chronograph 

Ladies, return to the golden age of glamour with this incredible 1930s cocktail watch. Encrusted with dazzling diamonds set in platinum, you're guaranteed to catch a few admiring (or envious) eyes. This timeless statement will certainly be loved, not only by you, but by future generations as it becomes a truly treasured family heirloom.

When it comes to luxury leather, there’s nothing Smythson hasn't thought of. For the watch collector, the luxury leather goods retailer offers a travel watch roll that forms part of its popular Gresham Collection. Made from natural goatskin and featuring a lustrous grain, this elegant addition makes for a lovely corporate gift. Smythson, Gresham Collection Travel Watch

For the first time Patek Philippe combines the functionality of a perpetual calendar with the classic chronograph caliber, in what is a truly spectacular timepiece. The day and month is displayed in apertures at 12 o'clock, while the analog date with integrated moon-phase is displayed at six o'clock, an iconic layout of the legendary brand.

Kojis, 1930s Ladies Cocktail Watch, £1,500

Roll, £340

Patek Philippe, 5270G at Boodles, £POA

AGENT PROVOCATEUR • ARTISAN FINE ART GALLERY • BOODLES • Bremont • BVLGARI • CHURCH’S • CROCKETT & JONES • GRAND CAFÉ • GUCCI • HARRYS OF LONDON HERMÈS • IMPERIAL CITY • JO MALONE LONDON • JONES LANG LASALLE• KIEHL’S SINCE 1851 • KOJIS • LINKS OF LONDON • LORO PIANA • L’OCCITANE • LULU GUINNESS MEZZANINE LOUNGE • MOLTON BROWN • MONTBLANC • OMEGA • PAUL A. YOUNG FINE CHOCOLATES • PAUL SMITH • PENHALIGON’S • PRETTY BALLERINAS ROYAL EXCHANGE JEWELLERS • SAGE BROWN FINE LEATHER • SAUTERELLE RESTAURANT • SEARLE & CO JEWELLERS • SMOKER’S PARADISE SMYTHSON • TATEOSSIAN • THEO FENNELL • TIFFANY & CO. • WATCHES OF SWITZERLAND • WATCHFINDER & CO.

THE ROYAL EXCHANGE, BANK, CITY OF LONDON, EC3V 3LR. STORE TRADING HOURS 10AM - 6PM. RESTAURANTS & BARS 8AM - 11PM


The Designer:

Eileen Gray

We look back at one of the 20th century’s most influential furniture designers and architects, Eileen Gray WORDS: TIFFANY EASTLAND

E

ileen Gray went somewhat unrecognised throughout most of her career; however today she is regarded as one of the most important furniture designers and architects of her time, and to date the most influential woman in both fields. It is her work that is said to have largely inspired both Modernism and Art Deco design. Born in Ireland in 1878, Gray spent most of her childhood in London and became one of the first women to be admitted to the Slade School of Fine Art where she took up painting in 1898. Following her studies, Gray accepted an apprenticeship in a London lacquer workshop, and it was during this time that she gained experience in the highly-specialised medium that would go on to influence much of her most recognised work, certainly when she moved to Paris in 1902. Using the skills she gained during her apprenticeship, Gray established herself as one of the leading designers of lacquered screens and decorative panels, which were becoming increasingly popular among followers of Art Deco. Her influence at that time was certainly noticed when she caused a riot by showing a stark white, lacquered

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boudoir during the 14th Salon des Artistes Décorateurs in 1923. Gray’s design style was distinct, as was her creative process, certainly in terms of the way in which she over time developed an opulent, luxuriant take on geometric forms. It’s rather incredible to think that despite all the time that has passed, her interior design schemes are considered both stylish and modern even today. The Museum of Modern Art in New York houses her iconic E1027 adjustable table, which forms part of the permanent design collection, a truly fitting tribute to the enormous contribution she made to modern design during her lifetime. Here in London, the V&A collection holds much of her early work, and on Saturday 7 June, the museum will host Introducing Eileen Gray, an educational seminar exploring the work and legacy of this talented woman. Visit vam.ac.uk to book or for more information. Today, Aram Designs holds the worldwide licence for Eileen Gray Designs and is the only UK source for the authentic products. D eileengray.co.uk


home

DECO-DENCE 

Add a touch of glamour to your home interior with furnishings inspired by Art Deco design

2

1

3

5 4

8

6

7

D 1. Matilda Mirror, £1,188, Porta Romana, portaromana.co.uk D 2. Art Deco Dining Cabinet, £17,365, Ralph Lauren Home, ralphlaurenhome.com D 3. Suspended Eltham Light, from £5,040, Charles Edwards, charlesedwards.com D 4. Louis Poulsen Table Lamp, £667, Louis Poulsen, nest.co.uk D 5. Enterprise Table, £704, Calligaris, calligaris.co.uk D 6. Art Deco Chrome Cocktail Trolley, £440, The Old Cinema London, theoldcinema.co.uk D 7. Manhattan on Foot Votive, £1,200, Lalique, lalique.co.uk D 8. Fede Deco Armchair, £12,995, Tura, luxdeco.com

LIFESTYLE | 81


SPINNING IN SUPPORT

From 26-29 June, 400 keen cyclists will test their endurance when they take part in the infamous HotChillee London to Paris, the “professional event for amateurs”. Completing this three stage road event is no small feat, but all in aid of some extremely worthy causes including, the Samaritans, UK Youth, DEBRA and Stoke Mandeville. This year participants will have the privilege of riding alongside sporting legends including the 1987 Tour winner, Stephen Roche. Entry for 2014 has now sold out, however event organisers are now taking reservations for any last minute openings.

SERVE in STYLE

D londres-paris.com

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White Water:

ICF CANOE SLALOM WORLD CUP This month, the best of the best return to race the rapids at Lee Valley White Water Centre

P

rofessional paddlers from all corners of the globe will be vying it out at the first ICF Canoe Slalom World Cup between 6 – 8 June. Lee Valley White Water Centre will host the action packed and adrenalin fuelled event where paddlers will take to the London 2012 Olympic course in a race of speed and skill. Competitor’s limits will be tested as

they tackle the courses notoriously tricky tides, dodging obstacles along the way as they speed through 25 gates in this race against the clock. It’s anticipated that the 2015 ICF Canoe Slalom World Championships, scheduled for September 2015, will be used as the race to prepare Olympic qualifying teams for Rio 2016. D visitleevalley.org.uk

SHORT SHOT

All Premium Shorts, £40, Adidas, adidas.co.uk

TOP FORM

Sebastian Denim Pigment Polo, £115, Orlebar Brown, orlebarbrown.co.uk

A SHOE IN

Tennis iD, £125, Nike, nike.com


fitness

HiiT AT TenPILATES

Looking for a class that will get you in shape this summer? TenPilate’s HiiT class promises to do just that. A 45-minute circuit-based class, HiiT alternates between periods of intense and generally anaerobic exercise with active lowerintensity recovery periods. No previous experience is necessary and all fitness levels are encouraged to give it a try. With no specific formula or routine, each class is completely different. The trainer leads the small group sessions through various exercise techniques including, boxing training, weights, TRX, strength training, body weight and plyometric routines.

VANHAWKS VALOUR

A year ago, the team at Vanhawks set out to improve a technology that hadn’t been re-thought in 120 years. The outcome, the Vanhawks Valour, an ultra-light, durable and connected bike built for the urban commuter. Made from lightweight carbon fiber, this is one clever bike. Each Valour is capable of recognising and learning its owners routine and interacting with Vanhawk’s networks to formulate better route information and safer travel suggestions, not to mention more complete fitness regimes. Furthermore, its connectively means that if your new pride and joy were stolen, it would be possible to retrieve your bike and find out who had stolen it in the process. We’re impressed.

D tenpilates.com

Ultimate 3/4 Tights, £26 Techfit Capri Pants, £26

Techfit Tank Top, £23 Clima Essentials Bra, £18

D vanhawks.com

WORKOUT WARDROBE

Linear prints and bold colours feature big this season in terms of workout wear, and the Spring/Summer 2014 adidas women's training collection is certainly no exception. Additionally, each trend led piece incorporates technology, meaning it will perform as hard as you do. D adidas.co.uk

IN THE BAG

Re-Issues Tennis Bag, £125, Fred Perry, fredperry.com

ON THE BALL

RAISE YOUR RACKET

2014 Wimbledon Tennis Ball (4 Ball Tin), £9.99, Slazenger, store.slazenger.com

Juice 100 L, £120, Wilson, wigmoresports.co.uk

LIFESTYLE | 83


AHEAD of the CURVE

Samsung has launched a series of curved TVs, tipped to lead the way forward in terms of home viewing. Robert King, vice president of Consumer Electronics at Samsung UK & Ireland, revealed that cinema screens inspired the rationale behind the curve. In fact, extensive research was carried out by viewing films in cinemas at various angles and viewpoints. The result? A deeper and wider viewing experience in the comfort of your home. The curved design is, however, only one aspect leading Samsung into the next phase of the evolution of the home-viewing experience. The HU8500 range employs revolutionary UHD technology, bringing images to life like never before. The collection is now available in selected stores.

LOOK BACK at LEICA

D samsung.com

1914

Ur-Leica

The first functioning prototype of the novel still-picture camera.

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THE LEICA LEGACY Celebrating 100 years of Leica photography Words: TIFFANY EASTLAND

I

n 1914, Oskar Barnack invented and constructed the first still-picture camera for the 35mm film format, which went on to revolutionise the world of photography, as we know it today. The Ur-Leica that was constructed under Barnack’s philosophy of “small negative – big picture” completely transformed the industry. Up until that point, photographers relied upon cumbersome plate cameras, which meant the Ur-Leica, the original compact and highly-portable prototype camera, vastly increased creative scope. After some delays, a consequence of the First World War, the Leica brand finally set out to conquer the world of photography in 1925. Today, the brand’s influence is evident in the pictures that have shaped our understanding of the world – for example, Robert Capa’s ‘Falling Soldier’ from the Spanish Civil War, and the photo by Alfred Eisenstaedt which

captured the celebrations on VJ Day in New York’s Time Square in 1945. Dr Andreas Kaufmann, chairman of the Supervisory Board and majority shareholder at Leica Camera AG, says: “No other brand has so crucially shaped and influenced the past 100 years of photography like Leica – by continuing to provide photographers with the best tools and superb lenses to match them. For this reason, it is only logical that we will be celebrating our centennial with numerous renowned photographers from around the globe and shining a spotlight on their work.” The brand’s major milestone will be marked by a series of cultural projects, book presentations, photography exhibitions and competitions. D For details on the events taking place in this centenary year, visit leica-camera.com

1954

Leica M3

This redesigned camera model was equipped with a combined bright-line rangefinder/viewfinder.

1984

Leica M6

For the first time the M body integrates exposures metering through the lens as well as an LED viewfinder display.


play

HAILO

Hailo is the black cab app that allows you to hail one of the capital’s 23,000 black cabs with a tap at no extra cost. The nifty invention also gives you the option of paying by using credit card information that has already been uploaded to the system. A social networking function also allows the drivers to determine which areas are busiest and utilise an accounting feature to show how much they’ve earned. There are currently 50,000 drivers signed up internationally, with the plan to open in six more cities, this year alone.

FLYPAY

D hailocab.com

Settling a restaurant bill has never been easier, thanks to Flypay, the app that’s dramatically reducing the payment process. Using this app, customers are now able to check, split and pay their bill from their phone, taking the payment process from an industry average of 10.2 minutes to approximately one minute. While not all restaurants are on board yet, there is a growing number, so it won’t be too long before all your favourite restaurants allow you to pay with a scan, type or tap of the phone.

APPS – to –

app-reciate Make life a little easier with four apps you’ll wonder how, you ever went without

D flypay.co.uk

MOVES

CITYMAPPER

This increasingly popular transport app is helping tourists and locals navigate their way around some of the trickiest cities with absolute ease. A tap of the app’s ‘Get Me Somewhere’ function provides the user with bus, rail and tube options; taxi journey times; walking and cycling routes; hire-bike availability; a ‘rainsafe’ option and even a weather forecast. Beyond this, the app offers a few human-centred extras whereby walking and cycling routes calculate calorie-burning potential, while public transport options specify accurate fares. D citymapper.com

Moves launched in January 2013, and by the time it was made available for Android that September, it had been downloaded 2.5 million times from Apple’s App Store. As its name suggests, this clever app captures your every move, collecting data on whether you’re walking, cycling or running, while calculating the calories burned. The app remains running at all times in the background and tells the user when they were at home, work and other locations, measuring the time it took to travel between each destination. D moves-app.com

2006

Leica M8

The first digital M model employs a low noise CCD image sensor with 10.3 megapixels.

2008

Leica S2

The digital single-lens reflex camera sets new standards for mediumformat professional cameras.

2014

Leica T

It’s never been so easy to understand a camera, thanks to Leica’s newest addition.

LIFESTYLE | 85


UNCOVER HIDDEN TALENTS WITH GINETTA

From road to race track, call today to find out where Ginetta can take you. CALL 0113 385 4171 | EMAIL sales@ginetta.com | WEB ginetta.com ginettacars

ginettacars

In association with

Photography by Mike Petch


DRIVE

THE PHANTOM BLUEBIRD Rolls-Royce remembers a world speed record legend WORDS: MATTHEW CARTER

R

olls-Royce is paying homage to one of the UK’s most daring world speed record holders, Sir Malcolm Campbell, with the Rolls-Royce Phantom Drophead Coupé Waterspeed Collection. Built partly to publicise the company’s Bespoke Collection, which allows the well-heeled to develop a car to match their own personal taste and requirements, the Phantom celebrates Campbell’s exploits on water with the Rolls-Royce-powered K3 and K4 ‘Bluebird’ boats in the late 1930s. The car is finished in a specially developed ‘Maggiore Blue’ exterior paint, inspired by Bluebird’s famous colour scheme. Nine layers of paint are applied before an exhaustive process of hand-sanding and the application of a cutting-edge powdered lacquer is undertaken to ensure an impeccable finish. For the first time in Rolls-Royce history the exterior finish extends to the engine, creating a visually striking link to the power behind Campbell’s records. The Drophead’s traditional teak decking to the rear has been replaced by brushed steel with each piece of material individually panel-beaten by hand for 70 hours following initial mechanical pressing.

Fittingly the car was first displayed at the Bluebird Restaurant on the King’s Road in London – originally the site of Campbell’s Bluebird Motor Company – and will be given its European debut at the famous Concorso d’Eleganza at Villa D’Este on Lake Como. It was on the nearby Lake Maggiore where, on 1 September 1937, Campbell established his legend, setting a world-record speed of 126.33mph in Bluebird K3.

LIFESTYLE | 87


Space

RACER

From the edge of space to the edge of adhesion, supersonic skydiver Felix Baumgartner is falling into sports cars and is taking on the scariest race track in the galaxy WORDS: Neil Briscoe

88 | FEATURES


PROFILE

The difference between the Stratos jump and racing is not so big

FEATURES | 89

''


H ow do you come back down? It’s a tricky question and one with no clear answer. Those closest to having a shared experience are probably astronauts and the track record there is a patchy one. Neil Armstrong, arguably the greatest of all, shunned the limelight when he returned from the Moon and entered a cloistered university life, refusing almost point blank to discuss his accomplishment. Buzz Aldrin found solace at the bottom of a bottle, before recovering and eventually appearing on The Simpsons. Ironically, one of his successors, Chris Hadfield, appears to have utterly become Ned Flanders. Others have become painters or preachers or have just stuck quietly to engineering or PR roles within the astronaut corps. But for Felix Baumgartner, there is no corps. Only one other man has done as he has, stood on a tiny perch high above the world and just jumped… How do you follow that? From 24 miles above the Earth, on the 14 of October 2012 Baumgartner stepped off his floating platform and fell, plummeting towards home, hitting a recorded speed of 843mph, or Mach 1.25. Supersonic speed, no aeroplane needed. It was no coincidence that the date was 65 years to the day since Chuck Yeager became the first man to breach the sound barrier (with a plane, in fairness). Baumgartner wanted us all to know that he had the Right Stuff. What then, though? Well, obviously there was a massive round of public appearances, talk shows and autograph signing. Red Bull had sponsored the jump and wanted its money’s worth in terms of publicity. Really though, what then? How on Earth - or in space - do you follow the nigh-unbelievable thrill of jumping back to your home planet from the edge of the atmosphere? Well, Baumgartner has chosen racing as his next trick, thereby adding racing driver to his boys’ hero checklist of sky-diver and (almost) astronaut. You get the suspicion that he’s just doing it to try and revive sales of Action Man, but in fact it’s a mixture of a personal need for a challenge and wanting to inspire the next generation. “I was always like that, when I was a little kid, I always looked up to the guys who did something that no-one had ever done before. Like Neil Armstrong – he landed on the moon and he was my childhood hero. And I was always someone who’d think that if other people say it’s not possible I was always asking myself, is that because it is not possible or because we think it’s not possible. There’s a lot of people out there who have showed us the difference there. “It’s not my main priority but if it inspires a younger generation

90 | FEATURES


PROFILE

then I’m happy, because I think they need people to look up to, it doesn’t matter if it’s a race car driver or your parents, as long as you look up to somebody, and if you pick an accomplishment and follow it through then I think that’s good. It’s important to have role models. It’s good to be there, to be one. I was always looking for challenges, like Red Bull Stratos; no one thought a human could break the speed of sound but we did it. And race car driving – people say that with no racing background and no experience you cannot compete in the Nurburgring 24hrs. But if you have a very good programme, and a team like Audi who comes up with the perfect game plan, then everything can work…” Audi has been a dominant force in motor racing for more than a decade now, notching up a dozen wins at the famed Le Mans 24hrs and numerous other victories around the globe. For Felix though, it’s come up with a special brand of hell; the Green Hell as Jackie Stewart called it – the Nurburgring. In June, as every year, 200 cars will take to the most infamous track in racing to compete wheel-to-wheel, bumper-to-bumper, for a full day and night. It is one of the toughest events in motorsport, and even with his meticulously prepared Audi R8 LMS Ultra GT3 racer, Felix is really jumping off the deep end. “Audi approached me last year with the idea of competing in the 24hrs of Nurburgring, and I was easily attracted from the first second, but my first request was that we had to practice and practice and practice. Every situation, every possible chance to practice, I have to take, because I’m not a race car driver, and much of the Nurburgring is very dangerous and this is a very fast and difficult car. So we both agreed on working together in that way and Sepp Haider (Audi’s own in-house racing trainer and a former rally champion) took me to the race track at the Lausitzring, and I had the chance to practice there for two days. And then we

went to the Nurburgring and for two days I was sitting next to Sepp in the car and he showed me everything. And we slowly built up the progress. “The difference between the Stratos jump and racing is not so big, because if you want to accomplish something you have to have confidence in your skills, confidence in your team and in your equipment. I had that when I was doing Red Bull Stratos. We had to develop the skills and the equipment, and in racing you have to build the team and the car, the technique has to be up to date and as a race car driver you have to be physically fit and able to do your job. So there are a lot of similarities, between skydiving and race car driving because it requires a lot of discipline and mental focus, and I’m used to that, that’s the reason why it works for me. It is the same buzz, the same excitement. I’ve always liked a challenge and if you’re out there on a race track with 200 other cars, and everyone wants to win, everyone wants to be in front, and you know you’ve got cars coming from behind, cars in front of you, and you have to be anticipating, worrying are you going to hit another car, but it is big fun – I like the speed and I like the challenge. You get both in a race car.” The Nurburgring 24hrs is essentially a one-off event, unique in the GT racing world, but for Felix it may just be the start of a whole new career. He’s impressed both Audi and his hugely experienced team-mates, Frank Biela, Marco Werner and Pierre Kaffer and it’s not out of the question that bigger, more prestigious races could beckon. “If they would give me the chance I would sure love to do Le Mans, I would sign up for that. Le Mans is a very different thing, it’s not as tricky a circuit as the Nurburgring but it’s much faster, the average speed is around 260kmh, so it takes focus and discipline again, but it’s the same as with the Nurburgring, if you work on something with the right people and you’re part of the right team then anything is possible.”

FEATURES | 91


A RACING CERTAINTY Porsche reckons the new Macan 4x4 is more sports car than SUV. And rightly so WORDS: Matthew Carter

S

tandard industry practice for the Press launch of a fourwheel drive SUV involves a not-too-demanding road route plus some gentle cross country stuff, either along a well trodden path through a wood or, if the car maker is feeling really adventurous, in a quarry. The last place they go to show off a tall 4x4, something that’s likely to lean through the bends thanks to its compliant suspension, is a racetrack. And yet here we are, in the glorious sunshine at the equally glorious Goodwood circuit in Sussex, ready to drive the new Porsche Macan SUV on track. Yes, there’s also a road route, but the roads around here are almost as fast and demanding and there’s no stop for either a wood or a quarry along the way. Porsche obviously thinks the Macan is different, a feeling underlined by the short film we are shown about the development of the car. Throughout the film, Porsche emphasises how sporting the Macan is and how the dynamic benchmark during the engineering process was not a rival 4x4 but the legendary 911 sports car. Now, being a cynical journalist my initial reaction is to say Porsche must be talking nonsense. Not even the company’s undoubted engineering genius can defy the laws of physics,

92 | LIFESTYLE

surely. The next few laps are going to involve degrees of body roll reminiscent of a racing yacht during Cowes week. Oh my goodness, how wrong can I be? I start in the most potent of the Macans on offer, the 400hp twin-turbocharged 3.6-litre Turbo. After a couple of acclimatisation laps it’s time to change the suspension settings from Comfort to Sport Plus and go for it. Body roll? None to speak of. Grip? Astonishing. Handling? More like a Cayman sports car than a Cayenne SUV, Macan’s big brother. Performance? Breathtaking. With 400hp on tap, this is the most powerful compact SUV around and over the fastest part of the course I see more than 140mph on the speedo. At our legal limit, the engine runs barely above tickover. It’s much the same story (albeit at slightly lower speeds) in the Macan S, which confusingly is also a biturbo but doesn’t get the badge on the boot. It has to ‘make do’ with a 3.0-litre V6 engine and a mere 340hp. After a dozen or so laps, it’s time to take stock and let the turbos and brakes cool down a bit after their bashing. The Macan – the name is derived from the Indonesian word for tiger apparently – is Porsche’s fifth mainstream model and its second 4x4 after the Cayenne.


drive

VEHICLE SPEC CAR: Porsche Macan S PRICE: £43,300 ENGINE: Front-mounted, 2,997, V6-cylinder petrol, twin turbo POWER: 340 hp PERFORMANCE: 157mph max, 0-62mph in 5.4 secs DRIVE: Four-wheel drive, seven-speed PDK double clutch automatic

going to spend your entire time on the racetrack. It’s about the size of an Audi Q5, which is logical as it is based on This performance is matched by the excellence of the seventhe Audi’s architecture… though Porsche is at pains to tell you that it speed Porsche PDK double clutch automatic transmission looks after shares only 30 per cent of its parts with the Q5. gearshifts faster and more smoothly than a human could ever manage. The rest is pure Porsche, which goes a long way to explaining why Powerful brakes, accurate ‘feel-some’ steering and a rear-drive it handles and performs so much better than the Audi. bias make driving a pleasure while the practical side of the car The Macan range is three strong, with the £59,300 Turbo at the includes a roomy boot and ample room for five adults in the cabin. top of the tree. Underneath come the petrol-powered Macan S and the Porsche’s ergonomics are among the best in the business and while Macan S Diesel, both selling at £43,300. the cockpit is button heavy, it just works… apart from the buttons The Diesel is expected to grab the lion’s share of sales (around 60 mounted above the driver’s head, that is – they are too fiddly. per cent) with the two petrol models taking 25 per cent each. I reckon it looks pretty good, Time to see if it’s as good on the too. Design cues are taken from the road as it is on the track. And the Powerful brakes, accurate ‘feel-some’ Cayenne, notably the bluff nose, but answer is a resounding yes. steering and a rear-drive bias make there are nods to the 911 and the Perhaps the most astonishing driving a pleasure forthcoming 918 hybrid supercar. thing is how supple the ride is out And off-road? Ah, well, here on our pockmarked back roads. I haven’t a clue as there was no opportunity to try it off the beaten Normally a car with big wheels – both S models have 18-inch alloys as track. Macan does, however, have an off-road button as standard standard, but these Press cars are blessed with optional 20-inch (petrol) which automatically alters the shift pattern and sends more torque to and 21-inch (diesel) alloys – delivers a jittery, teeth-rattling ride. the front wheels for ultimate grip. Not here. Even with the Sports Plus programme in use, the ride And if you specify the optional air suspension, the ground clearance is remarkably supple while the grip remains extraordinary. And the is increased by 40mm when the button is pressed. In other words, it performance is if anything even more dramatic out here in the real world. should be fine for off-road-lite driving. I try the Diesel first and come away impressed with the When Porsche launched the Cayenne back in 2001 it rapidly became acceleration… around 6 seconds from 0-60mph is impressive by any the company’s fastest selling model. The Macan will do even better. In fact, standards, but especially in a heavy diesel SUV. I’d buy one tomorrow, but for one thing. The entire first year’s production And then I have a go in the Macan S petrol and the Diesel is destined for the UK is already sold out. Put an order in now and you’re immediately discarded. While the Turbo is undoubtedly quicker, the going to have wait until May or June next year before you take delivery. performance from the S is real world rapid… putting it another way, All I can say is: get your name down now. It really is that good. you simply don’t need the extra power of the Turbo unless you are

LIFESTYLE | 93


Three is greater than four BMW’s hot new saloon outdoes its own in-house rival WORDS: Neil Briscoe

T

he sound arrives with a boom; a deep, bass-ey note overlaid with a hard-edged crackle. It’s unmistakably a straight-six, but one that carries undertones of bigger engines, ones with more cylinders. Then the bright blue shape comes into sight, cresting a rise and emerging from the heat haze of a sunny, scorchio Portuguese day. The noise is really coming on now, rolling and snarling as the driver works his way up through the paddle-shift M-DCT gearbox, each up change bringing with it a harsh spit of unburned fuel, percussing its way along the hot exhaust. Then it’s passing by, sounding for all the world like Chewbacca gargling with propane, a streak of blue against the grey grandstands of the Portimao circuit. BMW’s new M3 has arrived. And how. It has brought with it a rival, though, in the shape of the new (and mechanically-identical) M4. BMW’s new odds and evens naming policy dictates that cars with four doors carry odd numbers; cars with two doors carry evens. So the old M3 coupé is gone, replaced by a four and if you want the one with the classic badge, the one whose lineage stretches right back to the original 1980s E30 M3, then you have to go for the saloon. To be honest, it’s no hardship. Thanks to the heavilyblistered wheel arches it needs to cover its broader tracks and tyres, and the carbon-fibre roof and trick aerodynamic door

94 | LIFESTYLE

mirrors, the M3 actually looks better, sexier, than the M4. Where the M4 just looks like a slightly sportier 4 Series coupé, the M3 looks properly mean and moody. Ready for action. Hold on a minute, though. We live in a world that is now supposed to be caring and sharing. BMW’s M-cars, the breed of which the M3 is the most totemic, are traditionally aggressive, fast, sporty, noisy and not at all worried about the fate of the planet. The bumpf for the new M3, though, highlights its efficiency (34mpg, Co2 emissions under 200g/ km). Efficiency has driven BMW away from the old M3’s big 4.0-litre V8 and into a variation of the existing 3.0-litre straight-six engine, fitted with two turbochargers. Now, we enthusiasts are still only getting used to M-cars with turbos. Traditionally, a BMW M model has a high-revving, naturallyaspirated engine – the choice of the purist. Turbos muffle the engine’s sound and because they take time to wind up to deliver full power, they lack the immediate response of a nonturbo. These are all worrying signs for the new M3. Has its old race-car-for-the-road soul been exorcised in the pursuit of better fuel consumption? And if so, what hope is there for BMW as a brand if its most iconic model has suddenly been softened – prowling cat to mewling kitten in one generation? The worries, though, are quickly assuaged. The noise we’ve


drive

VEHICLE SPEC Model: BMW M3 Saloon Price: £56,175 Engine: 3.0-litre twin-turbocharged, straight six-cylinder petrol Transmission: Rear-wheel drive, seven-speed dual-clutch automatic Co2 emissions: 194 g/km Combined economy: 34 mpg Top speed: 155 mph (electronically limited) 0-62mph: 4.1 seconds Power: 431 hp at 5,500- to 7,300 rpm Torque: 550 Nm at 1,800- to 5,500 rpm

but as soon as you have some lock on, there’s a constant sense already talked about – it is a truly musical car this, playing an of chatter and feedback about the road surface. Toggling the orchestral symphony as it goes, heavy on the trumpets. The suspension, throttle response and steering weights through ferocity of its response is something else too. In spite of the their three settings (Comfort, Sport and Sport Plus) allows turbos, there is only the faintest hint of a pause, an intake of you to carefully but easily dictate how the M3 will behave. literal mechanical breath, before the engine unleashes itself. Depending on your settings and your inputs it will cruise 0-62mph comes up in just 4.1secs if you specify it with the along in quiet comfort (just a hint of a firm ride, just a frisson twin-clutch, paddle-shift gear change (which, in spite of its of exhaust burble), or launch into extra weight and complication, you maximum attack mode, sliding and should do) but even that fails to In spite of the turbos, there drifting, turning its specially-made convey just how quickly this car can is only the faintest hint of Michelin Pilots into smoke at your get you from standing still to the a pause, an intake of literal command. It’s brilliant. wrong side of three figures. mechanical breath, before It’s not cheap, of course, and Yet it manages to avoid that the engine unleashes itself fuel and insurance are going to pitfall of the current M5, which set you back a fair bit, but behind switches too suddenly from gentle the noise and above the engineering this is still a practical, cruise to outright animal. The M3 feels more progressive spacious, comfortable car that can be easily parked and which than that, allowing the driver to more precisely meter out the uneducated will never notice. In that respect, it is that rare its performance. thing – the truly useable performance car. The chassis, which is entirely bespoke to both the M3 Is the new M3 more caring, more sharing? Yes, without and M4 (hardly a component under the car is left unchanged doubt. But the magic in the mix is that BMW has managed to from the standard 3 or 4 Series) is of course a major player in do that while making it better, sharper, faster and harder at the that. The M3 has incredibly good steering. It’s an electricallysame time. boosted system, and can be a little oddly weighted at times,

LIFESTYLE | 95


DAY TRIPPING

For speed freaks amongst us, there’s only one place to release that pent up frustration – the race track. But the usual ‘race days’ on offer often fail to live up to expectation. Now there is a new way for real enthusiasts to get their thrills WORDS: Ryan Boroff

I

am not a natural racing driver. By the time I’ve come to the end of the first sighting lap, I’ve usually forgotten what the first corner looks like or even which direction it heads in. I find myself agitated and over-excited. I become anxious and worry about how well I’ll drive, heaping pressure upon myself. Mine is not the cool and confidently unemotional personality of Lewis Hamilton or Sebastian Vettel. Mine are not the level-headed qualities of a winning racer. These are the anxieties of an amateur, wannabe racing driver. They are, though, the idiosyncrasies of someone who loves driving fast. Speed is addictive, as any petrolhead will tell you. But on public roads it is fraught with challenges, not least an unwelcome encounter with the police. A far better place to release your inner speed demon is upon the controlled and altogether safer environment of a race track. With no oncoming traffic and no speed limits; with corners with gravel run-offs that forgive you for your over exuberance. There are other obstacles. Motor racing has always been expensive, often prohibitively so. Many otherwise rational men have lost the shirts from their backs as the lure of driving fast and chasing the adrenaline fuelled dream of winning on the racetrack has undone them. Motor racing has largely remained the preserve of the wealthiest, or the luckiest, or both. Which is why I don’t race and why any time on a race track is welcome. I’m at Silverstone at a Ginetta media day created to mirror the experience of the Ginetta Racing Drivers Club (GRDC). Ginetta wants to open Motorsport up to a wider audience. The GRDC is an entry-level club for drivers with limited track driving experience or for amateur, wannabe racing drivers like me, in other words. People who love the idea but for whom starting out in motor racing seems rather daunting; people, perhaps, who have had their fill of track days and want to progress to the next level. For £27,250 the GRDC package includes ownership of a road-legal Ginetta G40 GRDC car with 12 months road tax, two track days of one-to-one race tuition, an ARDS package to get you a competition racing licence and entry

96 | LIFESTYLE


MOTORING

to four British GT race weekends. The car comes ready-to-race with an FIA extinguisher, seat, harness and engine kill-switch. At Silverstone the format is familiar: some forms to sign, a driver briefing, the requisite fitting of overalls and helmets. Then an impatient wait in line before my turn arrives. I’m escorted to an orange G40R which shimmers and clicks as the car cools in the sunshine. I slide into the passenger seat. My instructor introduces himself and explains the format. We’re going to take a spin around for a couple of sighting laps, one slow, one much quicker. Hands reach inside the cockpit and buckle me in to the racing seat. Straps are pulled ever so tight. The G40R fires into life and rumbles away, then my instructor slips the car into gear and we’re off for two laps of the track. He shows me the correct driving lines, talks about which gear I should be in and when I should be braking and how hard. “Careful this is a sharp corner here”; “Here is the chicane, remember you need to be here in order to avoid trouble over there”; “Stay on the power and let it come round”; “Second gear here and then feed on the power gradually as you exit” and so on. It’s a masterclass in discipline and concentration. I listen to every single word - before forgetting almost everything. “Any questions?”, he says. I ask him to tell

me exactly how many laps I have. I learnt long ago that I can’t bear the disappointment of coming in earlier than I thought I would, as I return to the pit lane without fulfilling my full potential, without nailing a lap, without even nailing one corner. You see racing is addictive. Even for those with limited talent. Lacking talent I may be, but not the tools. I climb into the driver’s seat of the G40R for three laps and then out of the G40R and into the lighter weight G40 GRDC car for a few more. Powered by a 1.8-litre Ford Zetec engine which pushes 135bhp to the rear wheels, the GRDC car is capable of reaching 60mph from start in six seconds and on to a top speed of 140mph, which is more than possible at a track like Silverstone. In reality it feels a good deal quicker as you are seated so low to the ground. It is noticeably more track focused than the G40R. The unassisted steering is accurate and there’s a short throw on the five-speed manual gearbox which is operated via a race car heavy clutch. Under full throttle the car is loud, with loads of grip, even on road tyres, as we were. Weighing just 820kg the car drives and feels very much like the wonderfully old-school style racer it is and it’s genuinely thrilling on track. And all the time accompanied by an exhaust note which spits, barks and howls back at you. Four laps in and we take a break. I find myself going over my experience on track. I nailed a few corners and completely messed up a few of the others. Though I may have strived to attain the seamless flow of man and machine working in harmony, it mostly eluded me once again. My limitations have been cruelly exposed. I should be disheartened, but I’m not because I did make progress. My improvement, albeit gradual, is encouraging. The proverbial bug has bit me. Instead, I want to buy a G40 GRDC car and get back on the circuit. I will spend hour upon hour learning every rise, drop, corner and camber at Silverstone. Then I will be ready, ready to race. Unleashing my inner racing driver, which will emerge from these racing overalls fully-formed. D ginetta.com/grdc.php

LIFESTYLE | 97


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PARTIES & EVENTS Offering a bespoke event planning service for: • Parties and celebrations • Christmas parties • Networking events • Cocktail & canapé receptions • Corporate meetings & events • Working lunches

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eat

RESTAURANT REVIEW 

Social Climber

As the man behind the Pollen Street Social and Social Eating House, Jamie Atherton is the restaurateur with the Midas touch. Last month he launched his first experiment in the City. So has he just gone and conquered the Square Mile too? WORDS: RICHARD BROWN

B

y now, you’ve sampled the black cod at SushiSamba, demolished the baconwrapped dates at Duck & Waffle and devoured dim sum at the Shard’s Hutong. You’ve seen the views, you’ve Instagram-ed the pictures. So why make the trip to City Social, the latest restaurant to have opened among the clouds? Well, if you’re a fan of Jamie-Athertonthe-brand for one. Following the success of Berners Tavern and the Michelin-starred Social Eating House – winner and runner-up of Best New Restaurant at this year’s Taste of London awards – and having opened with a shindig attended by the likes of David Gandy and Benedict Cumberbatch, City Social comes shrink-wrapped with the type of pre-branding that guarantees six months of buzz all by itself. Why else? The views, of course. Revamping a space formerly occupied by Gary Rhodes's Twenty Four, City Social benefits from an elevation that sits somewhere between street level and the sky-high, placing you amongst, rather than above, the Square Mile’s soaring mega-structures. The styling. If you like your interiors dark, discreet and art-deco, this place is for you. Inquisitive diners will notice a smoky,

flavoursome on paper. The roasted quail breast with broad beans and pancetta, on the other hand, was very good indeed, delicate on the plate, punchy in the mouth. For mains, the roasted rabbit saddle with rabbit sausage cassoulet ticked all the right boxes and would have thrilled us even more had it not been overshadowed by the rack of Romney Marsh lamb and braised shoulder shepherd’s pie. It sounds like a dish that should be reserved for winter, but given the

If the décor transports you to jazz-age America, the menu remains mostly British, briefly visiting Japan and Italy mirrored ceiling, under which deep, leather booths surround a dramatic black and white kitchen. Less shouty than SushiSamba, more sophisticated than Duck & Waffle, certainly sexier than Hutong. If the décor transports you to jazz-age America, the menu remains mostly British, briefly visiting Japan and Italy by way of a yellow fin tuna starter and risotto and gnocchi dishes, available either as starters or mains. To begin, we opted for the pig’s trotter and ham hock with crispy black pudding, apple and Madeira, which, sadly, proved more

Atherton approach, it works just as well in the sun. To finish, the apple tarte tatin with vanilla ice cream was superb. Visit with work during the week and make use of two spectacular private dining areas, or make the trip at the weekend to listen to live jazz. You’ve seen similar views, you’ve Instagram-ed similar pictures, but you won’t have done so from somewhere serving such top-notch grub from such sophisticated surroundings. D 25 Old Broad Street, EC2N

LIFESTYLE | 99


Champagne Mavericks Modern wunderkinds with brave new ideas are flooding the ancient world of Champagne production. It’s exciting times for fizz WORDS: Sandra Lawrence

100 | LIFESTYLE


DRINK

From left: Gusbourne Estate Library Cellars; Gusbourne Estate CEO Ben Walgate and winemaker Charlie Holland

E

very year Eric Lebel has to turn approximately 400 wines into one; a nice trick – if you can do it. As Chef de Caves of legendary Champagne house Krug, Lebel uses the label’s unique ‘library’ of wines to build a Champagne from scratch that both embraces and circumnavigates the concept of ‘vintage.’ There’s a strict system regulating the production of Champagne, but systems produce mavericks and, in 1843, Joseph Krug was one of Champagne’s first iconoclasts. Krug noticed how the region’s harsh climate made producers martyrs to vintage. They had to make wine whether or not the grapes were any good, which meant some years saw superb sparkling wine, while others were dreadful. He also noted, however, that even in the dreadful years, there was occasionally something to be salvaged. Perhaps a sharp acidity that might temper another year’s cloyinglysweet grapes or an over-richness that could even out another vintage’s thin, watery wine. He dreamed of creating a cuvée that would be consistently excellent yet absolutely unique to its own particular year. He began a ‘library’, where half the season’s yield would be the base for the year’s output; the rest, if good enough, ‘archived’ for later use. A hundred and seventy years later, Krug’s Grande Cuvée is an understated, elegant contender at the best tables in town. Where other Champagne houses blend grapes from the same year, some growers, like Eric Lebel and his team blend those of many years from their own plots; often tiny parcels of land no bigger than a garden. Science and technology can now ‘fix’ vintage issues but Krug prefers to do it the hard way. “We take twenty years to create a bottle of Champagne that doesn’t even have a vintage on the label,” shrugs sixth-generation Olivier Krug. “But people remember their first glass of Krug.” Champagne still throws up mavericks. “It’s all with the small producers at the moment,” says Daniel Illsley of Theatre of Wine in Greenwich, which seeks out Champagnes

rejecting the ‘commodity’ feel of the big labels. “Anselme Selosse, for example, uses fully-ripe grapes, which makes a change from the tart, thin stuff the big producers have to put so much sugar into.” When Anselme took over his father Jacques Selosse’s’ Grand Cru vines in Avize on the Côte de Blancs in 1984, the first thing he did was cut production to concentrate on quality. He started to farm bio-dynamically and allowed the grapes to ripen on the vine,

creating a base-wine that can be drunk straight-off, unlike most Champagne bases, whose acidity make them almost undrinkable before sugar is added. At the forefront of the ‘low dosage’ movement, where little or no additives are used, Selosse matures the wine like a white Burgundy in small, oak barrique barrels usually associated with Bordeaux, using only indigenous yeasts. This intense approach led to two results: top restaurant guide Gault Millau named Anselme as France’s best winemaker in every category in 1994 – an unprecedented honour – plus a severe shortage of Jacques Selosse Champagne. The entire UK allocation of Vintage Selosse this year is 36 bottles, mainly sold to restaurants such as The Square and Sketch. Version Originale is a little easier to come by but still a rare treat. Producing sparkling wine in the UK relieves makers from the stifling regulations of the Champagne region, but many English

producers still follow the same basic methods. The Gusbourne Estate, based in Appledore in Kent, is doing things its own way. Despite only releasing its first bottle of Brut Reserve 2006 in 2010, the team is the sole English winery finalist in this year’s BBC Food and Farming Awards. “The majority of houses in both Champagne and England purchase grapes from growers,” says Christian Holthausen, one of four young blades running Gusbourne. “We own 100 per cent of our own vineyards, and we’ve planted them with a majority of Burgundy clones, rather than the higher-yielding Champagne clones.” The grapes are hand-picked – as are the harvesters themselves, including veterans Rita Everett and Ann Hathaway, aged 72 and 73 respectively, chosen for their expertise and deftness in collecting the best grapes. This attention to detail, along with prolonged ageing on the lees (leaving the wine fermenting with the yeast deposits for extra flavour) and further ageing after disgorgement means demand constantly outstrips supply. Unlike other sparkling wine houses, though, the gang-of-four are committed to producing properlyaged wine in small quantities from their own grapes that attracts sommeliers from Le Gavroche, Le Manoir aux Quat’ Saisons, The Fat Duck and the Dorchester. It would seem that the true mavericks of sparkling wine are in for the long haul…

 STOCKISTS 

Krug Grande Cuvée NV £129, Uncorked, Exchange Arcade, London EC2M 3WA uncorked.co.uk Jacques Selosse Version Originale NV £117, Rosé, £125 - Theatre of Wine, 75 Trafalgar Road, SE10 9TS theatreofwine.com Gusbourne Blanc De Blancs, 2009 £34.95, Berry Brothers & Rudd, 3 St James St, London SW1A 1EG bbr.com

 LIFESTYLE | 101


wine

Demystifying the wines of Burgundy

James Lawrence cuts through the mystique of Burgundy, enabling savvy buyers to purchase with confidence

W

ine connoisseurs and collectors have long adored Burgundy and its legendary vineyards, the wines of Chambertin, Montrachet and Musigny often selling for crown jewel prices. The Chinese elite, in particular, have gone crazy for top Burgundy over the past five years – a case of Domaine de la Romanée-Conti (DRC) sold for US$38,081 in Hong Kong in January! But for many consumers who are new to wine, it remains an impenetrable cloud of confusion; so many names, villages and sub-regions seemingly designed to baffle us. Many would simply ignore Burgundy altogether, which is to miss out on some pretty stunning wines. So the key to getting to grips with the region is understanding that your point of reference for the wines isn't the grape or

 Top 5 

Burgundy wines:  Reds:  

2005 Domaine Bruno Clair Clos \ St.Jacques – £1,550 per case of 6 from Berry Bros & Rudd 2010 Domaine Rossignol-Trapet Chambertin (Grand Cru) – £1,500 per case of 6 from Berry Bros & Rudd

 2009 Domaine Laroche Blanchots – £57.25 per bottle from winestore.co.uk  2011 Domaine Faiveley Puligny Montrachet Les Folatieres – £65 per bottle from Berry Bros & Rudd  2011 Domaine Faiveley BatardMontrachet – £235 per bottle from Berry Bros & Rudd

Burgundy's top producers of red: Domaine Robert Arnoux, Domaine Armand Rousseau, Bruno Clair, Domaine Jean Grivot, Domaine de la RomanéeConti, Domaine Faiveley, Domaine Leroy, Nicolas Potel, Rossignol-Trapet.

Burgundy's top producers of white:

102 | LIFESTYLE

best, the wines dazzle us with their perfume, intensity and immense depth and complexity of flavour. South of the city of Beaune, we find Pommard and Volnay, both famous for red wines, and Meursault, Puligny Montrachet and Chassagne Montrachet, which are bestknown for white wines. The Chardonnay

At their best, the wines dazzle us with their perfume, intensity and immense depth and complexity of flavour

 Whites:

Domaine Guy Amiot et Fils, Louis Carillon et Fils, Coche-Dury, Jean-Noel Gagnard

producer, it is the sub-region within Burgundy, or a specific vineyard. Burgundy is a place of structure and hierarchy, with all vineyards ranked and graded according to the perceived quality of the wines they produce. There are four categories of vineyards: Grand Cru at the top of the quality and price tree, Premier Cru, Village and Bourgogne Blanc/Rouge. Confused yet? Well, it is crucial to understand that as far as a Burgundian is concerned, one vineyard site (even ones close together) is clearly different and perhaps inferior or superior to another; where the wine came from is of key concern, not the grape varieties. The varieties are actually the most straightforward aspect of Burgundy's wines. Red Burgundy is produced from Pinot Noir; white from Chardonnay. The region's vineyards run south of Dijon along the hillsides down towards Lyon. Chablis, which is located north-west of Dijon, is considered part of Burgundy and produces some of the region's best whites: elegant, refined wines which possess a wonderful mineral quality – delicious with shellfish. A good tip to remember is that Premier Cru Chablis is Burgundy's best-value white wine – supplies are far greater than famous wines

Below: Vineyards, Chablis Burgundy, France

like Meursault, so prices have remained reasonable. A superlative bottle of white can be yours for under £25 in wine merchants. However, Burgundy 'proper' starts south of Dijon, in the famous Côte d'Or or golden mile, which is split into two distinct areas, the Côte de Nuits and the Côte de Beaune. Generally speaking, the Côte de Nuits found further north is famed for producing complex, elegant and structured reds, while the Côte de Beaune is known for its lighter reds and elegant whites. Production in the Côte de Nuits is almost exclusively red. In the Côte de Nuits the most famous wines are named after the villages: Gevrey Chambertin, Morey St Denis, Chambolle Musigny, Vougeot and Vosne Romanée – at their

vineyards of the region's most famous white Grand Cru, Le Montrachet, provide the world's most expensive white wines and are in massive demand. At its best, it is white wine on another level – strong, perfumed, intense, luscious and utterly moreish. There is, nonetheless, an important caveat to the above wisdom. It's important to remember that even a highly-decorated vineyard like Le Montrachet might have multiple owners growing grapes and producing wine, which inevitably leads to variations in quality. Not every winemaker is as conscientious as the first-division estates, so ultimately your key point of decision-making is who made the wine, and then the vineyard or area in question.


ESCAPE 

From city breaks to weekend escapes, welcome to some of the world’s most exclusive hideaways

riviera Retreats

CHÂTEAU D’AZUR, Esterel

Nestled in the stunning Esterel mountains, just five minutes from the crystal-clear Mediterranean, Château d’Azur boasts one of the most picturesque locations on the Riviera. Accommodating up to 30 guests, the 15 double bedrooms benefit from absolutely breathtaking sea views over the Bay of St. Tropez and the Esterel mountains. Built in 1904 by Lord Amherst of London, this stunning property retains original architectural features despite recent restorations and boasts new state-of-theart technology. Equipped with a professional kitchen, this property is perfect for entertaining.

WHAT to PACK

D Chateau D’Azur, from US$10,752, per night, luxuryretreats.com

MADE FOR SHADE

contemporary VILLA, Cannes

BELLE ÉPOQUE CHÂTEAU, St Tropez

D Villa BE419, from €20,000 per week, Beauchamp Estates, beauchamp.com

D St Tropez Chateau, £POA, elegant-address.com

Bali meets the CÔte d’Azur in this incredible property located in the hills of La Californie, just ten minutes from the centre of Cannes. This luxurious villa boasts a swimming pool, steam room, sauna, gym and dance studio, not to mention a beautifully-landscaped garden covering four acres. Soak up the sun as you laze by the 30m infinity pool or enjoy the company of friends while you sip cocktails from your very own pool bar. The property sleeps up to ten guests but can host events, with a maximum capacity of 150.

Aviator Sunglasses, £94, Calvin Klein Jeans, marchon.com

104 | LIFESTYLE

T

he French Riviera has long been a playground for the British upper classes, and this season is expected to be no exception. As much as we love the stunning Riviera resorts on offer, here at The City Magazine we’re rather partial to the idea of a secluded escape to one of the many incredible vacation rentals dotted along the coast. From Cannes to St Tropez, here are three of our favourite Riviera retreats.

SHORT STORY

Men's Moorea Shorts, £158, Vilebrequin, fr.vilebrequin.com

Despite being situated in the very heart of St Tropez village, this stunning Belle Époque Château is every bit secluded, set back from the road and accessed via a long, tree-lined driveway. The landscaped gardens stretch across 3,750 square metres and feature an incredible pool surrounded by sunbathing terraces, an outdoor lounge with fireplace, bar and barbecue, not to mention a gazebo dining terrace for Sabrina-esque evening parties. The main Château accommodates up to eight guests, as does the Maison D’Etoiles, the guest house.

STRIKE IT RICH Starter Kit Rich, £63, Sepai, selfridges.com


travel

IN the BAG

travel guide

Our pick of the best new wheeled luggage

THIS MONTH: Thomas Kochs, general manager at Claridge’s ORANGE COUNTY

Favourite city to visit in the summer…

Tegra-Lite International Carry-On, £545, TUMI, uk.tumi.com

I plan to visit Istanbul; I haven't been and am so looking forward to getting to know it. It seems all my friends have been and they are all raving about it!

Best-kept secret in Europe…

Ravello on the Amalfi coast in Italy. I love this village and, in particular, the Palazzo Avino. The magical village boasts beautiful restaurants, music concerts, the best views and, if you stay at the Palazzo, you can use its beach club during the day.

Never travel anywhere without…

Sunglasses... you want to make sure you see everything. I also love my Leica camera holiday memories are so precious.

A good hotel will always…

Make a good first impression and have a good doorman. I am very proud of our team here at Claridge's, many have worked with us for years and have known guests and the Mayfair community for generations.

The best time to book a hotel…

That really depends, as you need to know your destination and be informed about the demand on the city at the time you plan to

A BREATH of FRESH AIR

travel. If it is a peak time, book early, as prices will only go up; if it's not a prime time of the year, I think about two weeks before. You'll get good prices and generally all categories are available, so the choice is yours.

the bellagio

Bellagio Cabin Trolley, £399, Brics, brics.it

If you’re unhappy with your room…

I believe you have to let the hotel know... we like to know, so we can fix it whilst the guest is there. We don't want anyone to leave disappointed.

The perfect escape involves…

Plenty of stimulation and inspiration; a good cocktail of culture, shopping, dining and absorbing new impressions.

CANVAS CITY

Tela Canvas F500 Trolley, from £4,650, Berluti, berluti.com

D Claridge’s, 49 Brook Street, W1K

Swap the Med for the sun-kissed Swiss Alps and discover that summer holidays don’t have to mean soaring heat and crowded beaches full of vitamin D-deprived Brits. South-facing CransMontana experiences the same amount of sun as Naples while offering views that stretch from the Matterhorn to Mont Blanc. For a panorama that will leave you breathless, plus bedrooms you won’t want to leave and a spa that features a 16-metre

swimming pool, stay at the recently-opened 5-star Crans Ambassador, a place where state-of-the-art sports and contemporary Alpine architecture collide. Play golf on a course used for the Omega European Masters, hike 280km of footpaths or mountain bike 152km of trails. Alternatively, climb, paddle-boat, paintball or paraglide. You’ll never think of a summer holiday in the same way again. D cransambassador.ch

LIFESTYLE | 105


The

SUITE LIFE We take a look inside five of the most exclusive hotel suites in the world WORDS: TIFFANY EASTLAND

106 | LIFESTYLE


TRAVEL

PENTHOUSE SUITE

Beverly Wilshire, Beverly Hills If you’re looking for true VIP treatment, the Penthouse at the Beverly Wilshire is probably the suite for you. Aside from a dedicated personal concierge and daily use of a luxury car, guests staying in the Penthouse Suite are entitled to five complimentary hours of personal time per week, which includes the choice of spa, trainer, fashion stylist or hair and make-up artist.

Famous for…

Being the primary film location for Pretty Woman, starring Richard Gere and Julia Roberts. The hotel was also a popular film location for HBO’s Entourage television series.

Designed by…

Los Angeles architectural firm Barry Design Associates. The company is highly regarded, having earned itself a long list of accolades and a reputation for delivering world-class design.

Located in…

The heart of Beverly Hills, you’re just a short walk from Rodeo Drive where you’ll find no shortage of luxury boutiques (or pretentious staff) as you will recall from Gary Marshall’s 1990 hit.

Spans…

5,000 square feet on the private, key-accessed 14th floor.

Accommodates…

Four adults or four adults and two children, offering the largest guest room space in the city.

Views of…

The city and Hollywood Hills. You’re treated to an impressive 270-degree view.

The best…

For boasting. Nothing says movie star quite like a stay in the Penthouse Suite at the Beverly Wilshire.

LIFESTYLE | 107


BENTLEY SUITE

The St. Regis, New York It goes without saying that any Bentley enthusiast would be in their absolute element in this St. Regis suite. On top of the obvious nods to Bentley throughout, guests enjoy access to an exclusively-customised 2013 Bentley Mulsanne. Bentley’s influence aside, this is a truly beautiful suite in a luxurious landmark hotel, so regardless of whether you know a Flying Spur from a Continental, you’ll find it very difficult to find any fault in the Bentley Suite.

Famous for…

Its previous residents, that is of the hotel rather than the suite itself. Salvador Dali and his wife lived at the hotel in the autumn and winter months throughout the 1960s and 1970s, while Marlene Dietrich, CBS chief executive William Paley and his wife Babe maintained apartments there at various stages in their lives.

Designed by…

The St. Regis Hotels & Resorts group and Bentley Motors, this luxurious suite showcases the craftsmanship and style that’s associated with both internationally-renowned brands.

Located in…

The very heart of midtown Manhattan, you’re just four blocks from Central Park, while the ultimate Fifth Avenue shopping experience is literally on your doorstep.

Spans…

1,700 square feet on the 15th floor.

Accommodates…

Two very lucky guests. This one-of-a-kind suite is complete with opulent foyer, bedroom, two bathrooms, an expansive dining room and a living room featuring floor-to-ceiling windows.

Views of…

Central Park and Fifth Avenue.

The best…

Interior design; this is a legendary collaboration between two distinguished brands that arguably know more about luxury and prestige than anyone else in the world. The clever juxtaposition of old-world elegance and a modern sleek aesthetic puts this suite in a league of its own.

108 | LIFESTYLE


TRAVEL

OPUS SUITE The Berkeley, London Designed to feel like a home, the Opus Suite at The Berkeley is perfect for those long-stay guests. There’s a sense of calm to its design, and unlike many other suites throughout Europe, it takes comfort into consideration and avoids the kind of opulence that simply overshadows the guest. Don’t be mistaken, though, this suite is every bit luxurious, after all it’s The Berkeley.

Famous for…

Once keeping a close eye on the reputations of debutantes. And the suite itself, there’s not yet any scandal or rumour to report… well at least that we’re aware of.

Designed by…

Award-winning architect André Fu. While he’s perhaps not widely known in the UK, Fu is one design talent we’re keeping a close watch on. The Hong Kong architect was personally selected to design the suite by the owner of the Maybourne Group, following the acclaim for his work on Singapore’s Fullerton Bay Hotel and The Upper House. In this instance, Fu has embellished this incredible space with simple yet beautiful detail.

Located in…

Wilton Place, Knightsbridge, you’re just minutes from Harvey Nichols, Harrods, Hyde Park, the Royal Albert Hall and the Natural History Museum.

Spans…

3,250 square feet on the fourth floor, which makes it The Berkeley’s largest and certainly most spectacular suite.

Accommodates…

Four keen foodies. The space has been perfectly scaled and uses sliding doors to merge the living room, study, master bedroom, bathroom, kitchen and dining room.

Views of…

Hyde Park and Knightsbridge, 270 degrees, in fact.

The best…

For in-room dining. Featuring a fullyequipped kitchen and dining room, the hotel can arrange for Michelin-starred chefs Marcus Wareing and Pierre Koffmann to prepare an extraordinary feast for you and your guests.

LIFESTYLE | 109


PRESIDENTIAL SUITE Mandarin Oriental Pudong, Shanghai The Mandarin Oriental Pudong seamlessly blends contemporary design with traditional Chinese styling, achieving a space that is soothing, luxurious and, above all else, effortlessly sophisticated. A definite highlight of the suite and its design would have to be the elegant bathroom which covers 164 square feet and includes its very own steam room and bathtub that overlooks the city.

Famous for…

Its spa, which is arguably the city’s most luxurious. Spanning 25,995 square feet and designed in the shape of a butterfly, a treatment in one of its 13 suites is a must during your stay.

Designed by…

Architect Bernardo Fort-Brescia of Arquitectonica who was inducted into the Interior Design Hall of Fame in 1999.

110 | LIFESTYLE

Located in…

A convenient and central area alongside the Huangpu River, it’s the ideal location for both the business and leisure traveller.

Spans…

The majority of the 25th floor, a whole 8,482 square feet to be precise.

Accommodates…

A party of five quite comfortably.

Views of…

The entire city from every side of the suite, which can be most appreciated from the two private roof gardens.

The best…

For entertaining; equipped with its own private wine cellar, and a three-metre bar, this suite lends itself to a rather lovely gathering.


TRAVEL

ROYAL ETIHAD SUITE Jumeirah at Etihad Towers, Abu Dhabi

This spacious suite is perfect for when you’re travelling with a growing entourage. Spanning an entire floor, there’s certainly no shortage of space. Featuring four king-size bedrooms and a choice of three inviting living spaces, the Royal Etihad Suite comes with a dedicated butler service so you and your guests can quickly become accustomed to a rather royal way of life.

Famous for…

Its dramatic sculptural design. The Jumeirah at Etihad Towers is located in one of the five iconic Etihad Towers and was awarded the World’s Leading New Hotel at the 2011 World Travel Awards.

Designed by…

Internationally-renowned Australian firm DBI Design. The multi-disciplinary company has earned a reputation for delivering worldleading design innovation, the result of more than 30 years of major project delivery.

Located in…

The city centre, the Jumeirah at Etihad Towers is set on its own private white-sand beach and is just a short distance from the Marina Mall and Heritage Village.

Spans…

A staggering 3,215 square feet. This is the highest suite in the hotel, taking up the entire 60th floor.

Accommodates…

Eight adults with ease. Enjoy both the company of friends and privacy in a suite that is anything but cramped.

Views of…

The Corniche [road], Arabian Gulf and Abu Dhabi cityscape. We’re talking a 360-degree panoramic view.

The best…

Views, certainly of our five suites, but perhaps even worldwide.

LIFESTYLE | 111


Just a couple of hours from home. And yet a world away.

w w w. a u s t r i a . i n f o

Yo u r p e r s o n a l H o l i d a y I n f o r m a t i o n L i n e : 0845 101 1818 (calls charged at local rates)


history

WAR AND PIECES

As a new exhibition at the Soane Museum aims to show how London marked the fall of Napoleon Bonaparte, we look into the fascination that this most cultivated of tyrants exerted for the distinguished City architect Sir John Soane WORDS: JACK WATKINS

H

ad things not turned out differently, instead of preparing for the First World War in 1914, London would have been celebrating the 100th anniversary of the overthrow of the despotic regime of Napoleon Bonaparte. Even though he’d return from his pensioned exile on the island of Elba a year later, culminating in his final defeat at Waterloo, as far as the English were concerned – as well as other citizens across Europe who’d lived in fear of attack for two decades, the summer of 1814 was the one in which they intended to celebrate the break out of peace. The end of the Napoleonic Wars following the Treaty of Paris, signed in May 1814, was marked by great festivities in London, including a lavish national festival in Hyde Park. The Prince Regent, never one to miss the opportunity to party, lost no time in inviting the Tsar of Russia, Alexander I, the King of Prussia, Friedrich Wilhelm

Below: Portrait of Napoleon

III, and the Emperor of Austria, Francis I, as well as the victorious army commanders, to the capital. A banquet, laid on for them at the Guildhall, was painted by Luke Clennell. With 400 guests in attendance, the sensitive artist went through agonies in the process of working up the piece – known as the Banquet At The Guildhall and suffered a mental breakdown. But he succeeded to the extent of recognisably depicting such figures as “Prinny,” the Tsar, the Prussian general Von Blücher and the Duke of Wellington. Allocated a supporting role in the official 1814 Peace Celebrations was John Soane (knighted in 1831), architect and surveyor to the Bank of England, clerk of the works at the Royal Hospital in Chelsea and recipient of numerous lucrative architectural commissions from private clients. Soane had been the quartermaster of the Bank Volunteer Corps, formed to protect the Bank of England in the

FEATURES | 113


This page: Portrait of Napoleon. Opposite page: Caricatures of the 'First Summer of Love'; Napoleon's ring, Christies.

event of an invasion by Napoleon. He was charged with evacuating the Bank should the emperor enter London. He gave Tsar Alexander a tour of the Bank and presented him with a selection of drawings, while receiving a diamond ring as a return gift. One of the great boons of the end of the fighting was the chance for Britons to visit Paris again – something they’d not been able to do for twenty years. One observer commented that they were now “popping across the Channel like champagne corks”. Paris may have been looking a little jaded after years of strife, but it still was a place of immense elegance, associated with good food, wine, women and song. Unfortunately, visitors from across the Channel were not regarded in a flattering light by the natives, and many caricatures of the time of the British at large in the city in that 'First Summer of Love' portrayed them as awkwardly dressed and gluttonous - and easy prey for local ladies with mercenary instincts. The serious-minded Soane was among the visitors to France that year, but the attractions for him were getting the chance to study the many improvements Napoleon had made to the architecture and urban fabric of Paris. Napoleon may have been a megalomaniac, but he had also shown moments of enlightenment and was a considerable patron

114 | LIFESTYLE

of architecture. Soane was not alone among the more progressiveminded of his contemporaries in admiring him for this, as well for being the personification of the self-made man. Soane understandably saw himself in this mould too, as the son of a bricklayer who, through his own unstinting efforts, had risen to become the foremost architect of his generation. Scenes featured in the caricatures of the day, of the English gawping at the artistic treasures of the Louvre, strolling through the Place VendÔme – where a statue to Napoleon as the 'bringer of peace' had been toppled and replaced by the royal standard of the restored Bourbon monarchy – or dining at the Café des Milles Colonnes, would all have been familiar to Soane. What is also certain is that he would have spent much time inspecting the improvements Napoleon had instigated to the city’s infrastructure. Baron Haussmann, around the time of the Second Empire of the 1860s, is generally accredited with being the mastermind behind the 19th century modernisation of Paris, overseeing the large-scale clearance of the medieval slums and the laying out of the broad, straight and airy boulevards we so admire in the city today. But it was actually Napoleon who gave early impetus to the process of creating these tree-lined routeways, notably the Champs-Élysées and the Rue


history

de Rivoli – partly as a means of providing his soldiers with avenues to swiftly move through to quell the notoriously-fractious citizens. He also commissioned the building of some fine neo-classical monuments and buildings, although the Bourse, the Arc de Triomphe and the church of La Madeleine would not be completed until long after his fall from grace. But Soane was clearly obsessed with 'the Little General'. At 13 Lincoln’s Inn Fields – now Sir John Soane’s Museum – he installed a shrine to him on the wall of his breakfast room. It included the earliest known portrait of the emperor to exist in a British collection, painted by the Italian artist Cossia, and showing him at the age of 27. Alongside was his pistol, said to have been presented to Napoleon by Tsar Alexander I, and a miniature depicting him during his exile on Elba. Something of an obsessive, Soane alongside his antiquarian interests was, in effect, a collector of Napoleonica, acquiring a series of bronze medals commemorating the significant events of his reign and a sword he believed had been presented to him by one of his officers. Soane was even influenced by two of Napoleon’s favoured architects and interior designers, the partners Charles Percier and Pierre Fontaine, in his designs for some of the rooms at 13 Lincoln’s Inn Fields. The most personal item he came by, however, was a gold

ring containing a lock of Napoleon’s hair. The attraction Napoleon held for the distinguished architect might seem strange, but it was not uncommon. For many, he was romantic hero, a flawed genius. Even today, he fascinates people, which is why many will come to this exhibition. Yet it also serves another purpose. As this summer's events commemorate the outbreak of the 19141918 war, the events of the 'Summer of Love' exactly two hundred years ago won’t get much of a look in. But perhaps they should, says Dr Jerzy J Kierkuc-Bielinski, exhibitions curator at Sir John Soane’s Museum, arguing that the 1814 Congress of Vienna and subsequent Paris Treaty laid the geo-political framework which dominated continental politics right up until the First World War. “The Allies who celebrated the signing of the Treaty as guests of the Prince Regent in London would, almost exactly one hundred years later, face each other on the battlefields of Europe – this time as enemies. In many ways, to understand the origins of the First World War, one has to look at the events of 1814 and the false promise of lasting peace that it offered.” D Peace Breaks Out! 1814 and the First Summer of Love will be held at Sir John Soane’s Museum, 20 June-13 September. soane.org FEATURES | 115


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LIFESTYLE | 117


art WINDOW GALLERIES

jubilee walk

The Art and Design Window Galleries showcase up-and-coming artists, designers and craftspeople and are located in Canada Place. Showing this month are:

Louise Seijen ten Hoorn Louise’s objects and jewellery pieces are carved, sculpted, cast and fabricated in materials such as metal, plaster, wax and resin. The key vehicle she uses to express her ideas is the human body, or aspects of it, and some of the themes that seep into her work originate in symbolism, fairy tales and alchemy.

VISUAL ARTS Carpe Momentum: Photographs by Christopher Jonas Canary Wharf’s exhibition programme has focussed on three-dimensional work, but this summer photography by Christopher Jonas is on display in the Lobby of One Canada Square. As he withdraws from some of his business and pro bono interests, Christopher has brought his second career as a photographer to the fore, although he has worked creatively for some forty years. He first used a 35 mm camera but recently turned to digital format, for which he had a period of intensive study with Ivan Coleman, Head of Photography in Fine Art at Goldsmiths, University of London. Carpe Momentum – “seize the moment” – is Christopher’s apposite title for this exhibition of 64 photographs and reflects his abiding interest in people and places in the world. The layout of the

23 June – 29 August Lobby, One Canada Square Canary Wharf, E14 FREE

exhibition has been designed in a series of six compositions, which give variety, not only of place, time and mood, but also of colour and monochromatic imagery. The eye of the photographer in his selection opens a wealth of possibilities for us to understand more about our world with deeper perception. D cwjpix.org

D luzzious.tumblr.com

canada walk

COMMUNITY WINDOW GALLERY: Walking on Water: Delivering the Legacy Until 9 July, Canada Place

Adam King In his works on paper, Adam casts an eye over the contemporary landscape bringing fantasy scenarios within imaginary yet familiar environments. Images cut out of lifestyle and fashion magazines are combined with drawings that reference architecture, resulting in fragmented colourful compositions. D adamkingartist.net

Walking on Water is a visual chronicle of the East London that is emerging post-Olympics, with its 6.5 miles of connecting waterways, villages, neighbourhoods, schools and universities, artist quarters, and centres for media, technology and science. Created by artist Frank Creber and Water City, this 200-piece display was an integral part of the Channel 4 Grand Designs Live exhibition displayed at ExCeL in May. A selection of images from Walking on Water is displayed at Canary Wharf. D water-city.com


events

Dancing City at Canary Wharf Monday 9 – Sunday 15 June Monday – Saturday 10am – 6pm Sunday 11am – 5pm Throughout Canary Wharf, E14 FREE to visit

Motorexpo The UK’s biggest free motoring event will transform Canary Wharf into an urban stage showcasing the latest creations from the world’s leading motor manufacturers. In a show like no other, the Canary Wharf Motorexpo gives you the opportunity to get up close with unrivalled access to the latest vehicles on the market. This year’s

event offers the chance to get behind the wheel of your dream car and hosts displays from Audi, BMW, Jaguar, Lexus, Maserati, Volvo and Tesla. Don’t miss the opportunity to book your test drive during the show and pick up your free copy of this year’s official guide, The Motorexpo Directory 2014 on arrival. D motorexpo.com

The Pearl Izumi Tour Series at Canary Wharf Fast-paced, action packed cycling returns to Canary Wharf with some of Britain’s top cyclists taking part in the fastest event on The Pearl Izumi Tour Series calendar, around Canary Wharf’s iconic 1.1 kilometre circuit. Olympic champion Ed Clancy will be amongst those competing as he seeks to avenge his narrow defeat by Chris Opie last year. Team performance is crucial, with five world-level UCI squads competing, including Clancy’s Rapha Condor JLT and the newly formed NFTO team, which includes Adam Blythe and the Downing brothers. Ahead of the professional race there will be the thrill of the ProAm Canary Wharf Corporate Grand Prix as teams from some of Canary Wharf’s tenants battle it out on the same circuit as the professionals. D thetour.co.uk

A summer of outdoor dance arrives at Canary Wharf for a week of ballet, street dance, contemporary and traditional dance. Enjoy full performances and bite-sized al fresco dance treats from some of the very best UK and international dance companies and artists within Canary Wharf’s parks, piazzas and waterfronts against its dramatic architectural backdrop. D Visit festival.org or canarywharf.com for specific performance times and locations.

Monday 23 – Saturday 28 June Monday – Friday 12pm – 2:30pm Saturday 1pm – 5pm Throughout Canary Wharf, E14 FREE to visit

Sport at Wood Wharf As the second week of Wimbledon heats up head to Wood Wharf as the Tennis Village at Wood Wharf swings into action. The first of its kind in London, it aims to mirror the scenes of Murray Mount with a big screen but with the addition of tennis related activities designed to keep all ages entertained, including table tennis, miniature tennis and the ever popular fastest serve competition. There’s food, drink and tennis merchandise on sale at this great event for all the family to enjoy. D tennisvillagefanpark.com Thursday 5 June From 6.30pm Throughout Canary Wharf, E14 FREE to visit

Monday 30 June – Sunday 6 July 10am – 10pm Wood Wharf, Canary Wharf, E14 FREE to visit

canarywharf.com

@yourcanarywharf


Dining With dad With Motorexpo and Father’s Day coinciding this June, expect something extra special when dining in Canary Wharf and make sure this Father’s Day is one to remember

Plateau restaurant, bar & grill

Boisdale of canary wharf

Brunch Special • from £42 On Father’s Day, head to Roka for contemporary Japanese Robatayaki cuisine. Make the most of the special Sunday brunch menu of tasty small dishes where you’re greeted with a choice of a Roka-style Bloody Mary or Bellini at the door. The Sunday brunch is served until 8pm and is priced at £42, £54 and £66 per person. Roka’s normal menu will also be available, with an extensive à la carte menu that includes hot dishes, sushi, sashimi and a separate tasting menu.

Three-courses & bubbles • £35 Make it an occasion this year and enjoy three delicious courses and free-flowing bubbles on 15 June, with Plateau’s special Father’s Day menu. On top of that, there’ll be live music to enjoy. Plateau’s location on the fourth floor of Canada Place means it has brilliant floor-to-ceiling views of Canada Square Park and Canary Wharf buildings, meaning it is no surprise that Plateau is such a favourite amongst Canary Wharf’s locals and visitors to the area alike.

Three-course Menu & wine • £45 For Father’s Day, Boisdale is serving up a three-course traditional lunch with unlimited wine for £45 – all to the backdrop of live jazz. After lunch, visit the Cigar Terrace, an awning-covered heated terrace upholstered in Boisdale’s signature tartan, where you’ll find an extensive and global cigar menu. There’s also The Whisky Bar in the restaurant on the second floor where a 12-metre long wall showcases just some of the more than 1,000 bottles of malt whisky on offer.

D The Park Pavilion, 020 7636 5228

D Canada Place, 020 7715 7100

D Cabot Place, 020 7715 5818

Roka


RESTAURANT

Le Pain Quotidien

One canada square restaurant & bar

Tom’s kitchen

Hot breakfast • until 3pm Set yourself up for a busy day at Motorexpo by picking up organic croissants, muffins or granola for breakfast at Le Pain Quotidien. Or, until 3pm at weekends, enjoy a hot breakfast with a choice of scrambled eggs, porridge and filled croissants. At this cafe, enjoy comfy chairs, rustic tables and cups of hot coffee while you take in a long brunch or explore the rest of the menu. Le Pain Quotidien’s philosophy revolves around simple, healthy food and, of course, great coffee.

Raw & Grill Menu • until Late Right in the heart of Canary Wharf you’ll find the architecturally-striking One Canada Square Restaurant & Bar. If you’re heading to Motorexpo early, why not start your day with a leisurely or express breakfast? For evening dining, there’s a raw menu which includes steak tartare and cured Scottish salmon. For something meatier, try the grill menu with cuts of prime steak and surf and turf that’s sure to please the carnivores amongst you.

british classics • comfort food Tom’s Kitchen is a modern British restaurant, bar and deli. Serving British favourites and comfort food classics in a relaxed and informal environment from breakfast to dinner. It’s a wonderful place to grab a booth or a table on the outside terrace and while away lunch with great food and a buzzing atmosphere. On Sundays the bar is open until 5pm if you want to make time for a drink after a delicious late lunch or pre-dinner.

D Jubilee Place, 020 3617 6631

D Lobby, One Canada Square, 020 7559 5199

D Westferry Circus, 020 3011 1555

Family Favourites  jAMIE’S iTALIAN Jamie’s Italian’s kids menu is healthy and fun. There’s something on offer to please every child, whether it’s spaghetti Bolognese or organic hot dogs, and each dish on the kids menu is £5.95. D Churchill Place, 020 3002 5252

Canteen  A selection of dishes are available as half portions for children at half price. Also, be sure to ask your waiter for an activity pack to keep the little ones entertained. D The Park Pavilion, 020 7513 0406

 BYRON At Byron, children aged under six are treated to mini classic burgers and chicken burgers. Or, if they’re not a fan of burgers, they can choose a creamy serving of tummy-pleasing macaroni cheese. D Cabot Place, 020 7719 0800

canarywharf.com

@yourcanarywharf


DIRECTORY 

Wining and dining, shopping and splurging, the City is home to a wealth of amenities

COLLECTION BREMONT 12 The Courtyard Royal Exchange 020 7220 7134 bremont.com BOODLES 2 & 3 The Courtyard Royal Exchange 020 7283 7284 boodles.com BULGARI 15 Royal Exchange 020 7283 4580 bulgari.com

HEALTH & GROOMING AJALA SPA 10 Godliman Street 020 7074 1010 www.ajalaspa.com BARBER EXPRESS LTD 14 Devonshire Row 020 7377 5485 barberexpress.co.uk CHEQUERS BEAUTY SALON 53-54 Leadenhall Market 020 7283 3047 chequersbeauty.co.uk

ERNEST JONES Unit 3, Plantation Place 020 7929 4491 ernestjones.co.uk

CITY HEALTH & FITNESS CLUB LONDON Grange City Hotel, 8-10 Cooper’s Row cityhealthclub.co.uk

GUCCI 9 Royal Exchange 020 7623 3626 gucci.com

ELYSIUM SPA 21 Old Broad Street 020 7256 8624 elysiumfortytwo.co.uk

HERMÈS 12-13 Royal Exchange 020 7626 7794 hermes.com

ESSENTIAL THERAPY 39 Whitefriars Street 020 7353 1895 essential-therapie.co.uk

LINKS OF LONDON 27 Broadgate Circle 020 7628 9668 linksoflondon.com

FETTER BARBERS LTD 144 Fetter Lane 020 7702 3553 fetterbarbers.com

MONTBLANC 10-11 Royal Exchange 020 7929 4200 montblanc.com Tiffany & Co. 9-11 Royal Exchange 0800 160 1114 tiffany.co.uk

122 | LISTINGS

NICHOLSON & GRIFFIN 74 Cannon Street 020 7489 8551 nicholsonandgriffin.com OPTIX 175 Bishopsgate 020 7628 0330 optixuk.com SMILEPOD BANK STUDIO Leadenhall Market off Fenchurch Street 18-20 Cullum Street 020 7836 6866 smilepod.co.uk TED’S GROOMING ROOM 120 Cheapside 020 7367 9932 tedsgroomingroom.com THE HARLEY MEDICAL GROUP Marc House Great Street 0800 022 3385 harleymedical.co.uk THE PRIVATE CLINIC 107 Cheapside 0800 599 9911 theprivateclinic.co.uk

F FLITTNER 86 Moorgate 020 7606 4750 fflittner.com

TOWER BRIDGE HEALTH & FITNESS CLUB 47 Prescot Street 020 7959 5050 grangehealthclubs.com

LONDON CITY RUNNER 10 Ludgate Broadway 020 7329 1955 londoncityrunner.com

VIRGIN ACTIVE 5 Old Broad Street 0845 270 4080 virginactive.co.uk

HOME & BEAUTY ARTISAN FINE ART 35 Royal Exchange 020 7929 5656 artisangalleries.com DERMALOGICA One New Change 013 7222 5537 dermalogica.com JO MALONE 24 Royal Exchange 08701 925131 jomalone.co.uk KIEHLS Unit 14/15, Royal Exchange 020 7283 6661 kiehls.co.uk LIGNE ROSET 7-39 Commercial Road 020 7426 9670 ligne-roset-city.co.uk MOLTON BROWN 27 Royal Exchange 020 7621 0021 moltonbrown.com OLIVER BONAS One New Change 020 7248 3152 oliverbonas.com PAUL A YOUNG FINE CHOCOLATES 20 Royal Exchange 020 7929 7007 paulayoung.co.uk PENHALIGON’S 4 Royal Exchange 020 7623 3131 penhaligons.com


DIRECTORY

FASHION AGENT PROVOCATEUR 5 Royal Exchange 020 7623 0229 agentprovocateur.com CHURCH’S 28 Royal Exchange 020 7929 7015 church-footwear.com CROCKETT & JONES 25 Royal Exchange 020 7929 2111 crockettandjones.com HARRYS OF LONDON 18 Royal Exchange 020 7283 4643 harrysoflondon.com HUGO BOSS One New Change 020 7332 0573 hugoboss.com KAREN MILLEN One New Change 020 7236 3635 1-2 Royal Exchange Buildings 020 7626 2782 karenmillen.com

DIRECTORY 

BARS & RESTAURANTS 1 LOMBARD STREET 1 Lombard Street 020 7929 6611 1lombardstreet.com 1901 AT ANDAZ HOTEL 40 Liverpool Street 020 7618 7000 andazdining.com ANISE BAR 9 Devonshire Square 020 3642 8679 cinnamon-kitchen.com ANTHOLOGIST 58 Gresham Street 0845 468 0101 theanthologistbar.co.uk BALLS BROTHERS 11 Blomfield Street 020 7588 4643 ballsbrothers.co.uk BAR BATTU 48 Gresham Street 020 7036 6100 barbattu.com

CHEZ GERARD 14 Trinity Square 020 7213 0540 chezgerard.co.uk CINNAMON KITCHEN 9 Devonshire Square 020 7626 5000 cinnamon-kitchen.com COPA DE CAVA 33 Blackfriars Lane 020 7125 0930 cava.co.uk COQ D'ARGENT 1 Poultry 020 7395 5000 coqdargent.co.uk FORA RESTAURANT 34-36 Houndsditch 020 7626 2222 forarestaurants.co.uk GRAND CAFÉ The Courtyard Royal Exchange 020 7618 2480 royalexchange-grandcafe.co.uk GRAPPOLO 1 Plough Place 020 7842 0510 grappololondon.com

L.K. BENNETT One New Change 020 7236 4711 lkbennett.com

BRASSERIE BLANC 60 Threadneedle Street 020 7710 9440 brasserieblanc.com

LORO PIANA 2-3 Royal Exchange 020 7398 0000 loropiana.com

CAFFÉ CONCERTO One New Change 020 7494 6857 caffeconcerto.co.uk

HAWKSMOOR GUILDHALL 10-12 Basinghall Street 020 7397 8120 thehawksmoor.com

PAUL SMITH Unit 7, The Courtyard Royal Exchange 020 7626 4778 paulsmith.co.uk

CAMINO SAN PABLO 33 Blackfriars Lane 020 7125 0930 camino.uk.com

HAZ RESTAURANT Plantation Place 6 Mincing Lane 020 7929 3173 hazrestaurant.co.uk

HIGH TIMBER RESTAURANT 8 High Timber Street 020 7248 1777 hightimber.com MADISON RESTAURANT 2 New Change 020 8305 3088 madisonlondon.net MINT LEAF LOUNGE 12 Angel Court 020 7600 0992 mintleaflounge.com PICCOLINO RESTAURANT 11 Exchange Square 020 7375 2568 individualrestaurantcompanyplc.co.uk RESTAURANT SAUTERELLE The Courtyard, Royal Exchange 020 7618 2483 sauterelle-restaurant.co.uk SEARCYS CHAMPAGNE BAR One New Change 020 7871 1213 searcyschampagnebars.co.uk Smiths of Smithfield 67-77 Charterhouse Street 020 7251 7950 smithsofsmithfield.co.uk SUSHISAMBA Heron Tower 020 3640 7330 sushisamba.com VERTIGO 42 Tower 42, Old Broad Street 020 7877 7842 vertigo42.co.uk

LISTINGS | 123


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PROPERTY Covering THE CITY, Wapping, Shad Thames, Shoreditch & Islington

The Up & UP The experts reveal the key factors driving the rise and rise in house prices

Image courtesy of Cole & Son cole-and-son.com


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Modern first floor apartment to rent in a great location in Shoreditch, moments from Brick Lane. 2 bedrooms, 1 bathroom, open plan kitchen and reception room, wooden floors and good storage. EPC rating B. Approximately 55 sq m ﴾593 sq ft﴿   Available furnished Guide price: £495 per week

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Bezier Apartments City EC1Y Lifestyle development

Stylish and contemporary apartment on City Road. 2 bedrooms ﴾1 used as a study﴿, 1 bathroom, open plan kitchen and reception room, concierge, communal gym, sauna, steam room and roof terrace. EPC rating B. Approximately 71 sq m ﴾762 sq ft﴿   Available furnished Guide price: £650 per week

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Contemporary apartment located on the third floor of a premier development overlooking the dock. 3 bedrooms, 3 bathrooms, reception room, kitchen, balcony, concierge, private parking. EPC rating B.                          Approximately 142 sq m ﴾1,528 sq ft﴿ Leasehold

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Fourth floor flat in a popular riverside location in Wapping. 1 bedroom, bathroom, galleried reception room, kitchen, balcony with river views, parking space and 24 hour porterage. EPC rating C. Approximately 74 sq m ﴾797 sq ft﴿   Share of freehold

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﴾WAP130181﴿

Port East Apartments, E14 Two bedroom apartment

An immaculate Grade I listed warehouse conversion situated on the second floor. 2 bedrooms, 2 bathrooms, reception room, open plan kitchen, balcony, concierge, parking. EPC rating C.                     Approximately 101 sq m ﴾1,090 sq ft﴿ Share of Freehold

St John's Wharf, Wapping E1W Charming warehouse conversion

Charismatic apartment with original warehouse features on Wapping High Street. 2 bedrooms, 2 bathrooms ﴾1 en suite﴿, reception room, kitchen, porter, lift and small parking space. Approximately 105 sq m ﴾1,130 sq ft﴿ Share of freehold

Guide Price: £845,000

Guide price: £815,000

KnightFrank.co.uk/canarywharf cwharf@knightfrank.com 020 3641 6112

KnightFrank.co.uk/wapping wapping@knightfrank.com 020 8166 5372

﴾CNW140086﴿

﴾WAP130170﴿

The City-June 2014-crop

City Mag June 14

16/05/2014 12:10:28

T


o.uk KnightFrank.co.uk Discovery Dock,     Nr Canary Wharf Three bedroom apartment

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Contemporary apartment located on the third floor of a premier development overlooking the dock. 3 bedrooms, 3 bathrooms, reception room, kitchen, balcony, concierge, private parking. EPC rating B.                          Approximately 142 sq m ﴾1,528 sq ft﴿ Leasehold

KnightFrank.co.uk Trafalgar Court, Wapping E1W Duplex riverside penthouse

Fourth floor flat in a popular riverside location in Wapping. 1 bedroom, bathroom, galleried reception room, kitchen, balcony with river views, parking space and 24 hour porterage. EPC rating C. Approximately 74 sq m ﴾797 sq ft﴿   Share of freehold

Guide Price: £1,150,000

Guide price: £650,000

KnightFrank.co.uk/canarywharf cwharf@knightfrank.com 020 3641 6112

KnightFrank.co.uk/wapping wapping@knightfrank.com 020 8166 5372

﴾CNW140024﴿

﴾WAP130181﴿

Port East Apartments, E14 Two bedroom apartment

An immaculate Grade I listed warehouse conversion situated on the second floor. 2 bedrooms, 2 bathrooms, reception room, open plan kitchen, balcony, concierge, parking. EPC rating C.                     Approximately 101 sq m ﴾1,090 sq ft﴿ Share of Freehold

St John's Wharf, Wapping E1W Charming warehouse conversion

Charismatic apartment with original warehouse features on Wapping High Street. 2 bedrooms, 2 bathrooms ﴾1 en suite﴿, reception room, kitchen, porter, lift and small parking space. Approximately 105 sq m ﴾1,130 sq ft﴿ Share of freehold

Guide Price: £845,000

Guide price: £815,000

KnightFrank.co.uk/canarywharf cwharf@knightfrank.com 020 3641 6112

KnightFrank.co.uk/wapping wapping@knightfrank.com 020 8166 5372

﴾CNW140086﴿

﴾WAP130170﴿

The City-June 2014-crop

19/05/2014 11:21:21 City Mag June 14

16/05/2014 12:10:28


KnightFrank.co.uk

Petherton Road, Highbury N5 A superb double fronted Victorian house

Arranged over four floors and with a wealth of period features, the property has wonderful proportions, great reception and entertaining space. 6 bedrooms, 3 bathrooms, 3 reception rooms, kitchen/ dining room, cellar, guest WC, garden. EPC rating C. Approximately 288.6 sq m (3,107 sq ft) Freehold Guide price: ÂŁ2,695,000 (ISL140130)

KnightFrank.co.uk/islington islington@knightfrank.com 020 3641 6138


KnightFrank.co.uk

Peacock Place, Islington N1

A stunning end of terrace contemporary mews house Newly built in 2011, the property is arranged over four floors and offers superb living and entertaining space. 3 bedrooms, 2 bathrooms, reception room, kitchen/dining room, study, utility, guest WC, terrace, courtyard, off street parking. EPC rating B. Approximately 236.8 sq m (2,549 sq ft) Freehold Guide price: ÂŁ2,650,000 (ISL140095)

KnightFrank.co.uk/islington islington@knightfrank.com 020 3641 6138


KnightFrank.co.uk

Warriner Gardens, Battersea Park SW11 4 bedroom house for sale in Battersea Park

A stylish four bedroom house located on one of North Battersea’s finest streets, Warriner Gardens. The property is finished to a high standard with attention to detail throughout, and offers multiple family living spaces. 4 bedrooms, 2 reception rooms, 3 bathrooms, kitchen and dining room, 2 additional WC’s, utility room, garden. EPC rating D in 2009. Approximately 201 sq m (2,163 sq ft) Freehold Guide price: £2,200,000 (RVR130274)

KnightFrank.co.uk/battersea battersea@knightfrank.com 020 3597 7670


KnightFrank.co.uk

Hendham Road, Wandsworth SW17 Double fronted house with parking

A spectacular seven bedroom double fronted family home of substantial proportions set back from the road with secure gated access and off street parking for several cars. 7 bedrooms, 4 bathrooms, 3 reception rooms, kitchen/dining/family room, downstairs cloakroom, off street parking for several cars, large garden. EPC rating D. Approximately 385 sq m (4,144 sq ft) Freehold Guide price: ÂŁ3,750,000 (WND140106)

KnightFrank.co.uk/wandsworth wandsworth@knightfrank.com 020 7768 0993


COLUMN

EXPERT COMMENT A new normal in prime London

tom bill Head of London Residential Research at Knight Frank

LETTINGS

SALES

The prime central London rental market has risen for three months out of the first four in 2014 as a pattern of recovery takes hold. April’s rise marks the first two consecutive months of rental growth in prime central London since September 2011, which was the same month UK banks were told to separate their retail and investment banking arms to protect them against future financial crashes. Rents rose 0.3 per cent, which was the third monthly rise so far this year. The annual decline fell to -1.6 per cent, the lowest figure since July 2012. April 2014 brought more legislation for financial institutions, this time in the form of stress tests to prove Europe’s banks could withstand a seven per cent drop in GDP. That prospect looks increasingly remote in the UK as a brightening economic outlook buoys the prime central London rentals market. The financial services sector is an important source of demand among tenants and a resurgent IPO market and growing mergers and acquisition activity is boosting employment levels and rental declines are bottoming out. Employment growth at financial firms over the last six months has been reflected by a rise in rental values in prime central London in 2014. The rental market has become a topic of political debate, with proposals by the Labour party that include a cap on rent rises. These measures could prove counterproductive in prime central London, where rental markets vary so drastically from each other that any onesize-fits-all approach to capping increases could deter investors. Lettings are up by a fifth and applicants up by 13 per cent compared to last year, which shows demand remains strong. Rising rents helped halt a decline in rental yields in April, which remained unchanged at 2.83 per cent from March. It was the first time yields have not fallen in three years.

It is tempting to say the last 12 months marked a return to normality for the prime London property market, but the term ‘normal’ is difficult to apply to a market affected as much by global financial markets as it is by UK politics. A reputation as a safe investment, cemented during the financial crisis, and recent periods of political instability all over the world, means there are today more reasons people buy a home in London than there are stops on the tube map. It would be more accurate to say 2013 and the start of 2014 have been marked by less abnormality than the years of double-digit growth that followed the financial crash. Knight Frank data certainly suggests prime central London’s appeal is widening beyond its so-called ‘safe haven’ status. The number of transactions has jumped markedly. A 37 per cent increase in prime central London sales last year shows more people are spending more money as global economic threats, like the euro zone sovereign debt crisis, recede and the U.S. begins tapering its stimulus programme. Transactions increased across all price bands, including a 33 per cent jump between £1 million and £2 million, an 88 per cent rise between £4 million and £5 million and a 42 per cent increase for £10 million-plus homes. Further proof that the market has evolved beyond a defensive investment is that European buyers fell from 16 per cent to 11 per cent last year, suggesting concerns over the break-up of the euro zone are easing, underlined by the fact there were no Greek-domiciled buyers in 2013 for the first time in four years. However, despite the broadly calmer picture in Europe and the UK, Knight Frank web traffic data suggests inflows from emerging markets could rise as volatility grows in regions like South America and the Far East, unsettled by the withdrawal of economic stimulus in the U.S., China’s transition to a consumer-focussed economy and events such as the situation in Ukraine.

Knight Frank

020 7629 8171 knightfrank.co.uk

134 | PROPERTY


1 2

savills.co.uk

LETTINGS LAYOUT ONLY

THREE QUAYS, ec3r

EXECUTION DOCK HOUSE, e1w

2 bedrooms (1 en suite) ø further bathroom ø reception room ø balcony ø 24hr concierge ø on-site gym facilities ø Council Tax=TBC ø EPC=C

2 bedrooms ø 2 bathrooms ø reception room ø balcony with river views ø lift access ø Council Tax=G ø EPC=C

Furnished £903 per week

Furnished £900 per week

+ £276 inc VAT one-off admin fee and other charges may apply* Savills Wapping brodgers@savills.com 020 7456 6824

+ £276 inc VAT one-off admin fee and other charges may apply* Savills Wapping ostaylor@savills.com 020 7456 6810

ONTARIO TOWER, e14

WHITEADDER WAY, e14

Bedroom ø bathroom ø reception room ø views towards the 02 Arena and River Thames ø residents gym and swimming pool ø 24hr porterage ø Council Tax=D ø EPC=D

2 bedrooms (1 en suite) ø further bathroom ø reception room ø allocated parking ø views towards Canary Wharf ø Council Tax=C ø EPC=C

Furnished £425 per week

Furnished £385 per week

+ £276 inc VAT one-off admin fee and other charges may apply* Savills Canary Wharf lbrunning@savills.com 0207 531 2523

+ £276 inc VAT one-off admin fee and other charges may apply* Savills Canary Wharf ibates@savills.com 020 7531 2522

3 4

*£36 inc VAT for each additional tenant/occupant/guarantor reference where required. Inventory check out fee – charged at the end of or early termination of the tenancy and the amount is dependent on the property size and whether furnished/unfurnished. For more details, visit www.savills.co.uk/fees.


I want my property to be seen by the right audience. Who’s most likely to rent my home in Wapping?

meet Dawn

Savills network of 28 offices across London and over 500 offices and associates across the globe means we can offer a whole world of tenants – wherever they are. To find your perfect tenant, call Dawn on 020 7456 6800 or email her on dshepperson@savills.com


1 2

savills.co.uk

BUTLERS WHARF, se1

CINNABAR WHARF, e1w

Reception room ø kitchen ø bedroom ø bathroom ø parking space ø river views ø 67 sq m (726 sq ft) ø EPC=B

Reception room ø kitchen ø 3 bedrooms (2 en suite) ø terrace ø air conditioning ø 24hr concierge ø secure underground parking space ø 153 sq m (1,651 sq ft) ø EPC=C

Guide £875,000 Leasehold

Guide £2 million Leasehold

Savills Wapping mmacfarlane@savills.com 0207 456 6800

Savills Wapping nefthymiou@savills.com 020 7456 6800

CHIMNEY COURT, e1w

GUN WHARF, e1w

Reception room ø kitchen ø 2 bedrooms ø 2 bathrooms ø utility room ø patio ø concierge ø underground parking ø 119 sq m (1,286 sq ft) ø EPC=D

Reception room ø kitchen ø 2 bedrooms ø 2 bathrooms ø balcony ø underground parking space ø 88 sq m (947 sq ft) ø EPC=B

Guide £925,000 Share of Freehold

Guide £785,000 Leasehold

Savills Wapping nefthymiou@savills.com 020 7456 6800

Savills Wapping nefthymiou@savills.com 020 7456 6800

3 4


Beyond your expectations www.hamptons.co.uk

Bridport Place, N1 A unique collection of four Townhouses set directly on Shoreditch Park. Ideally located between Old Street and Islington, SPN1 is a superb example of contemporary design. Lovingly crafted by pH+, one of London’s leading young architectural practices, each of the homes showcase their unwavering attention-to-detail and belief in modern elegance. Open plan and bathed in natural light through the innovative integration of light wells across all levels.

Hamptons Islington Office Sales. 020 7717 5453 | Lettings. 020 7717 5335

Prices From £1,750,000 • • • • • •

Stunning new build Townhouses Due for completion early 2015 Overlooking Shoreditch Park Third floor terrace and rear garden Four bedrooms Open plan space to main living areas


EXPERIENCE TRANQUILITY IN THE HEART OF ISLINGTON Start your London life this summer in the final three exclusive townhouses

ISLINGTON ON YOUR DOORSTEP With Highbury Fields, Angel and other fantastic locations just minutes away, Mulberry Mews is the perfect location to experience everything London has to offer.

LUXURY AND TRANQUILITY An exclusive collection of 5 bedroom freehold townhouses set around a private gated courtyard opposite Highbury Fields. Ready to occupy, this 2,511 sqft meticulously designed townhouse benefits from underfloor heating throughout, concierge facilities and a 2 year Customer Warranty.

BOOK AN APPOINTMENT TO VIEW TODAY

To book a viewing call

0203 667 5576 Final release prices from ÂŁ2.35m

WWW.MULBERRYMEWSISLINGTON.COM

TWCL .CO M


Beyond your expectations www.hamptons.co.uk

Commercial Street, E1 £575,000 Leasehold A brand new 1 bedroom City flat with superb views of Canary Wharf. EPC: B

Golden Lane, EC1Y £1,850,000 Freehold A spectacular and award-winning fully integrated modern house. EPC: D

Brushfield Street, E1 £1,550,000 Leasehold A stunning 3 bedroom triplex maisonette in Spitalfields. EPCC

Sporting Life Building, E2 £550,000 Share of Freehold A spacious 2 bedroom duplex apartment with residents parking. EPC: C

Astral House, E1 £865,000 Leasehold A stunning and spacious 2 bedroom City flat near Liverpool Street. EPC: C

Great Tower Street, EC3R £799,950 Leasehold A wonderfully bright 2 bedroom City flat in a period building. EPC: D

Hamptons City Office Sales. 020 7717 5435 | Lettings. 020 7717 5437


Dockhead Wharf, SE1 £650,000 Leasehold A one bedroom apartment with an abundance of warehouse features facing St. Saviours dock benefiting from a balcony, parking space. EPC: C

Axis Court, SE1 £999,950 Leasehold A 1,079 sq ft, two bedroom penthouse apartment with direct lift access, large terrace and balcony with City views. EPC: C

Wheat Wharf, SE1 £850,000 Leasehold A two bedroom, two bathroom apartment, benefits from wooden floors, exposed beams and brickwork and parking. EPC: C

Butlers Wharf, SE1 £2,500,000 Leasehold A two bedroom duplex penthouse apartment with a 38ft terrace which benefits from views of London. EPC: C

Butlers Wharf, SE1 £5,100,000 Leasehold A stunning three bedroom duplex penthouse apartment in excess of 3,000 sqft on the Thames benefiting from views. EPC: C

Neo Bankside, SE1 £5,380,000 Leasehold A stunning, 9th floor three bedroom apartment facing the river with views of St Paul’s. EPC: C

Hamptons Tower Bridge Office Sales. 020 7717 5489 | Lettings. 020 7717 5491


Beyond your expectations www.hamptons.co.uk

St. Andrews Hill, EC4 £525 per week (charges apply*) A two bedroom apartment in the West of the City moments to St Pauls and the Thames. EPC: D

Fetter Lane, EC4 £435 per week (charges apply*) A well positioned modern one bedroom apartment in this superbly located small development. EPC: C

Spital Square, E1 £560 per week (charges apply*) Fantastic two double bedroom apartment located in the Heart of Spitalfields. EPC: C

Commercial Street, E1 £465 per week (charges apply*) A well presented and larger than average one bed apartment in this popular development in the heart of Spitalfields. EPC: C

Leyden Street, E1 £580 per week (charges apply*) A modern and newly refurbished spacious two double bedroom apartment in the popular St Clements House development. EPC: C

Parfett Street, E1 £750 per week (charges apply*) A rare opportunity to rent a stunning 18th Century townhouse with a garden close to the City. EPC: D

Hamptons City Office Lettings. 020 7717 5437 | Sales. 020 7717 5435

*Tenant Charges Tenants should note that as well as rent, an administration charge of £216 (Inc. VAT) per property and a referencing charge of £54 (Inc. VAT) per person will apply when renting a property. Please ask us for more information about other fees that may apply or visit www.hamptons.co.uk/rent/tenant-charges


Tower Bridge Wharf, E1W £550 per week (charges apply*) Well presented one bed apartment in sought after portered riverside development boasting a balcony with river views. EPC: C

Parker Building, SE16 £725 per week (charges apply*) Stunning three bed penthouse apartment situated in the brand new Bermondsey Spa development with large roof terrace. EPC: B

Eagle Wharf, SE1 £425 per week (charges apply*) One bedroom warehouse conversion with exposed brickwork, beams and covered balcony onto Shad Thames in this sought after development. EPC: D

Cinnamon Wharf, SE1 £495 per week (charges apply*) Refurbished one bed apartment boasting a bright reception room with balcony and views of St Saviours Dock and River Thames. EPC: B

Neo Bankside, SE1 £790 per week (charges apply*) Stunning two bed apartment on the Southbank of the Thames. Finished and furnished to a very high specification throughout. EPC: C

Floating Apartment, E1W £995 per week (charges apply*) A brand new custom built one bedroom “floating apartment” located in the prestigious St Katharine Docks.

Hamptons Tower Bridge Office Lettings. 020 7717 5491 | Sales. 020 7717 5489


Sales

The Heron, Moor Lane, EC2

ÂŁ999,950 Leasehold

A brand new one bedroom apartment situated on the 24th floor of the exclusive Heron development, located in the heart of the City. This fantastic unit offers 592 sq ft of living space and is a bright unit situated on the corner of the building with views of St Paul’s, The Shard and The Barbican. Comprising a spacious double bedroom with partitioned dressing area and fitted wardrobe, luxury bathroom with marble wall coverings and porcelain flooring contemporary fitted kitchen with Miele appliances, walnut flooring and well sized reception/dining room, The Heron is finished to a high specification featuring comfort cooling and smart home technology including iPod docking system, ceiling speakers and central control panel. Residents will benefit from a 24 hour concierge, the exclusive Heron Club and landscaped roof gardens, as well as having access to a state of the art gymnasium, business centre and screening room. The Heron is finished to an exceptionally high standard and is within easy reach of stations such as Moorgate, Bank, Barbican and Liverpool Street.

16-17 Royal Exchange, London, EC3V 3LL

royalsales@eu.jll.com


Lettings

020 7337 4000 joneslanglasalle.co.uk

Tenant agency fees: £240 inc VAT administration fee per property, £48 inc VAT referencing fee per Tenant/Guarantor

The Heron, Moor Lane, EC2 - £1,690 Per Week

Sloane Apartments, Cityscape, E1 - £800 Per Week

A beautifully presented 2/3 bedroom apartment on the 18th floor of the luxury development, The Heron. This spacious unit boasts a large reception area with balcony and stunning views. Offered fully furnished and comprising 2 bedrooms with guest room/study, ensuite bathroom, large walk-in shower and separate bath, additional guest bathroom, open plan kitchen, and walnut flooring.

A stunning 3 bedroom apartment located in Sloane Apartments, forming part of the brand new development Cityscape. This spacious 3 bedroom apartment is situated on the 4th floor and offers 3 double bedrooms, 2 luxury bathrooms, oak wood flooring to hallway and reception, fully fitted kitchen and reception with access to covered balcony boasting views towards the City Skyline.

Avantgarde, E1 - £680 Per Week

Sloane Apartments, Cityscape, E1 - £350 Per Week

A brand new 2 bedroom apartment in the sought after Avantgarde Tower, located in the heart of Shoreditch. This luxury apartment is on the 16th floor and offers 2 double bedrooms with fitted wardrobes, 2 contemporary Roca bathrooms with en-suite to master bedroom, reception with floor to ceiling windows, balcony, stunning views of the City Skyline and Canary Wharf, fully fitted kitchen and wood flooring.

A luxury studio apartment in Sloane Apartments, forming part of the brand new development Cityscape. Situated on the 3rd floor, this luxury apartment comprises an open plan living/sleeping area with fold away bed, fully fitted kitchen with stone worktops, separate bathroom with heated wall, oak wooden flooring throughout and excellent storage space.

royallettings@eu.jll.com


currell.com

OIEO £800,000 Leasehold Claremont Close, N1 • Top floor • Two bedrooms • South-facing balcony • 1930’s build • EPC D

£1,295,000 Share of Freehold Swinton Street, WC1X • Three bedrooms • Duplex • Large roof terrace • Potential to add more living space • EPC E


Currell

£995 Per Week* Goswell Road, EC1V • Two bedrooms • Outside space • 1500sq.ft • Furnished • EPC C

£500 Per Week* Goswell Road, EC1V • One bedroom • Outside space • Furnished • Close to Angel • EPC B *tenancy fees will apply. For more details on our fees please visit our website www.currell.com/knowledge-base/our-letting-fees

0207 253 2533

clerkenwell@currell.com


See all of our properties online: marshandparsons.co.uk

Follow us on Twitter: @marshandparsons

Join us on Facebook: facebook.com/marshandparsons

Visit our YouTube channel: youtube.com/user/marshandparsons

Redesdale Street SW3 £4,950,000 This impressive period house is located in the heart of Chelsea on the south side of a popular residential street running parallel with the King’s Road. The house has been beautifully refurbished and offers a fabulous open plan kitchen/dining room, a double reception room and a study. The generous bedroom accommodation provides a master suite, three further bedrooms and three bathrooms. The house also benefits from a south facing roof terrace and a patio garden. Freehold. EPC=D. Sole Agents.

CHELSEA: 020 7591 5570 sales.chs@marshandparsons.co.uk


Riviera Court, West Wapping E1W

ÂŁ1,495,000

ea2 are pleased to offer this unique 3 double bedroom penthouse apartment. the apartment features a bright and spacious reception with spiral staircase leading to a mezzanine. other features include direct access to the flat via a private lift, Secure underground parking, ample storage. close to St Katharine’s dock and easy access to the city & Canary Wharf.

ea2 Estate Agency Heritage Court | 8-10 Sampson Street | Wapping | London E1W 1NA t: 020 7702 3456 | f: 020 7702 9168 www.ea2.co.uk | property@ea2group.com


Tradewinds Court, West Wapping E1W

Queen of the Isle, Docklands E14

Rental Price: £330 Per Week

Rental Price: £380 Per Week

Kingsley Mews, Wapping E1W

Rum Close, Wapping E1W

Rental Price: £380 Per Week

Rental Price: £500 Per Week

Freetrade Wharf, Wapping E1W

Swan Court, St Katharine’s Way E1W

Rental Price: £600 Per Week

Rental Price: £1,730 Per Week

Modern 1 double bedroom apartment with reception room, kitchen & Bathroom. Situated in West Wapping within very popular secure development with parking. Short stroll to vibrant St Katherine’s Dock and City amenities and within easy access to Canary Wharf. Good condition throughout. Porterage on site. Must be viewed.

Situated within this modern development and situated close to Tower Hill and the City is this spacious 2 bedroom apartment. Fitted kitchen, reception and bathroom. Timber flooring. Good condition throughout. Must be viewed. Please note we have a selection of properties within this development to rent. Available the 14/05/14.

ea2 are pleased to offer this 2 Double bedroom apartment in the popular Freetrade Wharf development, The apartment has a newly refurbished kitchen and bathroom, Views over The Thames , 24 hour concierge, usage of swimming pool and gym, secure underground parking. Available now.

ea2 are pleased to offer to let this 2 Bedroom, 2 Bathroom 4th Floor Modern Built Apartment. Laminate Wood Floors. Open Plan Lounge and Kitchen. Close to Canary Wharf Station and Canary Wharf District. Availability date flexable.

3 Bedroom corner House. Situated fronting Wapping Woods. Spacious Reception. Kitchen/ Breakfast area. Ground floor WC. First floor Bathroom. Patio rear garden. Front patio area. Must be viewed. Situated close to Wapping station. Within easy access to the City and Tower Hill. Available 2/6/14.

ea2 are pleased to offer to rent this unique 6th & 7th floor penthouse apartment within the most prestigious location of the historic St Katherine’s Dock, West Wapping. The apartment consists of 3 Bedrooms, 3 bathrooms, reception, fitted kitchen. Terrace and balcony. Superb views over St Katharine’s Dock.

ea2 Estate Agency Heritage Court | 8-10 Sampson Street | Wapping | London E1W 1NA t: 020 7702 3456 | f: 020 7702 9168 www.ea2.co.uk | property@ea2group.com


0800 542 7210 info@johnsand.co

21 WAPPING LANE, E1

PARK VISTA TOWER | PRICE ON APPLICATION Leasehold

CORDAGE HOUSE | £695,000 Leasehold

PARK VISTA TOWER | 2 BEDROOMS | £620 per week

& & & &

& & & &

& & & &

Luxurious 9th floor three bedroom apartment Open plan reception | kitchen | dining with balcony Gym, spa, 24hour concierge, screening room Transport: Wapping Overground & access to DLR

Spacious two bedroom apartment Open plan reception | kitchen | dining with balcony 24hour concierge, residents’ only leisure facilities Transport: Wapping Overground & access to DLR

A desirable 9th floor two bedroom apartment Open plan reception | kitchen | dining with balcony Gym, spa, 24hour concierge, screening room Transport: Wapping Overground & access to DLR

PARK VISTA TOWER | £520,000 Leasehold

PARK VISTA TOWER | PRICE ON APPLICATION Leasehold

PARK VISTA TOWER | 2 BEDROOMS | £695 per week

& & & &

& & & &

& & & &

High specification one bedroom apartment Open plan reception | kitchen | dining with balcony Gym, spa, 24hour concierge, screening room Transport: Wapping Overground & access to DLR

www.johnsand.co

High specification studio suite bedroom apartment Open plan reception | kitchen | dining with balcony 24hour concierge, residents’ only leisure facilities Transport: Wapping Overground & access to DLR

CANARY WHARF Level 33, 25 Canada Square London E14 5LQ

NEW PROVIDENCE WHARF Unit 8, New Providence Wharf London E14 9PA

Spacious two bedroom apartment on 7th floor Open plan reception | kitchen | dining 24hour concierge and residents’ only leisure facilities Transport: Wapping Overground & access to DLR

WAPPING G03 Cordage House, 21 Wapping Lane London E1W 2RH

Sales, Lettings & Management


0800 542 7210 info@johnsand.co

NEW PROVIDENCE WHARF, E14

PROVIDENCE TOWER | £1,175,000 Leasehold

NEW PROVIDENCE WHARF | £425,000 Leasehold

NEW PROVIDENCE WHARF | £500 per week

& Luxurious three bedroom two bathroom apartment & 24hour concierge on-site, residents’ only leisure facilities and 43rd floor panoramic Skylounge & Transport: DLR & Canary Wharf Underground

& & & &

& Two bedroom two bathroom apartment with open plan reception room and balcony & Residents’ only leisure facilities and 24hour concierge & Transport: DLR & Canary Wharf Underground

PROVIDENCE TOWER | £499,000 Leasehold

NEW PROVIDENCE WHARF | £405,000 Leasehold

NEW PROVIDENCE WHARF | £475 per week

& Spacious one bedroom apartment with open plan reception room and balcony & 24 hours concierge, residents’ only leisure facilities and 43rd floor panoramic Skylounge & Transport: DLR & Canary Wharf Underground

& & & &

& Two bedroom two bathroom apartment with balcony with close proximity to Canary Wharf & Residents’ only leisure facilities and 24hour concierge & Transport: DLR & Canary Wharf Underground

www.johnsand.co

One bedroom apartment in desirable location Open plan reception / dining room 24hour concierge and residents’ only leisure facilities Transport: DLR & Canary Wharf Underground

One bedroom apartment next to Canary Wharf High specification finish with open plan reception 24hour concierge and residents’ only leisure facilities Transport: DLR & Canary Wharf Underground

CANARY WHARF Level 33, 25 Canada Square London E14 5LQ

NEW PROVIDENCE WHARF Unit 8, New Providence Wharf London E14 9PA

WAPPING G03 Cordage House, 21 Wapping Lane London E1W 2RH

Sales, Lettings & Management


Basin Approach, Limehouse, E14

Elektron Tower, London, E14

A delightful one bedroom apartment in this highly desirable marina side development. The apartment benefits from direct marina views, attractive neutral decor, large private terrace, secure underground car parking and 24 hour concierge. The apartment is ideally located within close proximity to Limehouse DLR station.

This modern spacious two bedroom apartment features an open plan reception, modern fully integrated kitchen, private balcony with views over Canary Wharf. Further benefits include two contemporary bathrooms, 24 hour concierge, residents gymnasium and is ideally located just moments from East India DLR Station.

EPC = C

£355 per week

EPC = B

£450 per week

St Davids Square, London, E14

Narrow Street, Limehouse, E14

A large three bedroom apartment in the popular St David’s Square development. Offering a large reception room, private balcony, modern kitchen, two bathrooms and parking space. St David’s Square has a resident’s swimming pool, gymnasium, games room and is well located for Canary Wharf and Island Gardens DLR station.

Ideally located in the heart of Limehouse, this spacious apartment features a large reception with private river front balcony offering stunning views towards Canary Wharf and the City. Further benefits include two double bedrooms and two family bathrooms, separate kitchen, secure parking space and on-site concierge.

EPC = C

EPC = E

£525 per week

96 Three Colt Street, Limehouse, London, E14 8AP

£550 per week


lourdes-estates.com 020 7538 9250

Sherwood Gardens, Mudchute, E14

Franklin Building, Westferry Road E14

A modern one bedroom apartment situated in the popular mudchute location and within easy access to Mudchute DLR station. The property features a bright spacious lounge, a set back kitchen, a double bedroom and a three piece modern fitted bathroom suite. This property has no onward going chain and would make an ideal first time buy.

This attractive two bedroom two bathroom apartment. Comprising of a spacious living room, a Juliet balcony with set back river views, a newly fitted Kitchen finished to a high specification, a master double bedroom with a modern fitted three piece shower suite, a second double bedroom and a further three piece family bathroom suite.

EPC = B

£315,000

£485,000

EPC = C

Equinox, Blackwall Way, E14

Tequila Wharf, Limehouse, E14

Situated in an ideal location and comprising of a spacious living room and access to a private balcony, an open plan kitchen, a second double bedroom, a three piece bathroom suite finished to a high standard, a large master bedroom and access to a three piece en suite. Further benefits include a secure parking space and daytime porter.

This unique penthouse property offers a wealth of features including solid oak flooring, expansive reception room, wrap around terrace (approx 1450sqft) offering breathtaking views of Canary Wharf, Limehouse marina and the City, master bedroom with en-suite and separate dressing room, two further double bedrooms one with ensuite bathroom and a further family bathroom.

EPC = C

£465,000

EPC = C

£1,300,000 enquiries@lourdes-estates.com


RECOGNISING ITS HISTORY REBUILDING ITS FUTURE

GILLENDER ST, BOW, LONDON E3

Coming soon, a fantastic selection of studio, 1 & 2 bedroom apartments available on a private and shared ownership basis.

CALL 020 7922 7211 TO REGISTER YOUR INTEREST LOCKKEEPERSBOW.CO.UK

PRICES START FROM

£335,000


SHOWCASE

DEVELOPMENT SHOWCASE ON THE GREEN

T

he award-winning City North development is shaking things up in one of London’s most connected areas. As the largest development in Islington since the redevelopment of Arsenal Emirates Stadium, City North Finsbury Park will be the cornerstone in the area’s major regeneration scheme. This joint venture between United House Developments and Business Design Centre Group will provide much-needed homes, retail, and leisure amenities to what is currently an under-supplied but growing area. The development consists of three main architectural buildings, which will provide 308 one to four bedroom apartments, including everything

from studios to penthouses with balconies and private terraces. Prices start from around £300,000. This sustainable and contemporary development will create hundreds of jobs in the local area, not to mention a longstanding, prosperous community. The scheme lies adjacent to Finsbury Park station, the busiest transport hub outside of Zone 1, and is due for completion from 2016.

FINSBURY PARK, N4 From around £300,000

city north

citynorthlondon.com

158 | PROPERTY


LONDON’S PRINCIPAL ADDRESS RESIDENTIAL TOWER DESIGNED BY

REGISTER NOW

PRINCIPALTOWER.COM LONDON EC2


DISCOVER | EXPLORE|CONNECT

Computer-generated images are indicative only

LAUNCH WEEKEND 7TH & 8TH JUNE 2014 | 10AM – 6PM | SALES CENTRE, VAUGHAN WAY, LONDON E1W 1YY

The highly anticipated first release of London Dock, by St George, situated just moments from Tower Bridge, the Tower of London, St Katharine Docks and the City. This exciting new destination offers a stunning range of 1, 2 and 3 bedroom apartments, with hotel-style residents’ facilities and 24 hour concierge, beautifully landscaped public spaces, shops, bars and restaurants. 1, 2 & 3 BEDROOM APARTMENTS FROM £689,950* DISCOVER MORE | LONDONDOCK.CO.UK | +44 (0)20 7971 7880 www.stgeorgeplc.com Proud to be a member of the Berkeley Group of companies

*Prices correct at time of going to press

SGC_LD_CityMagazine_297x210_Jun14.indd 1

21/05/2014 16:58


An award-winning development offering 360° of London Living

Coming Soon Register your interest

308 private residential apartments from studios to penthouses

At City North... ›› ›Finsbury›Park›Underground›and› mainline›station›entrance›in›the› heart›of›the›development ›› ›Victoria›&›Piccadilly›Line,›Zone›2 ›› ›Minutes›from›110-acre›› Finsbury›Park ›› 24-hour›Concierge

›› ›Multi-Screen›Cinema ›› Fitness›Centre ›› Supermarket ›› ›Shops›&›Restaurants ›› ›Completing›from›Autumn›2016 ›› ›999›Year›Lease

www.citynorthlondon.com

T:›020›7409›8756 E:›newhomes@savills.com›

T:›020›7793›7395› E:›residential@eu.jll.com

United House in partnership with the Business Design Centre Group


SOAR

CgI of 27th & 28th floor at Lexicon with city view**

OUR LONDON SKYLINE SPEAKS FOR ITSELF Launching ThuRSDaY 5Th JunE, 5.30–9PM SLEEK 1, 2 AND 3 bEDROOm APARTmENTS FROm £695,000* Join us for the launch of Lexicon, a spectacular 36-storey waterside tower in Islington. Floor to ceiling windows mean there is no need for artwork, as your cityscape views provide this free of charge. Soar above. REgISTER YOUR INTEREST TO ATTEND. Visit LEXicOnLOnDOn.cO.uK Call 020 7205 2986 Email SaLES@LEXicOnLOnDOn.cO.uK

*Prices correct at time of print **Computer generated images are indicative only

261 CITY ROAD, ISLINgTON


Beckenham 020 8663 4433 Bromley 020 8315 5544 Chislehurst 020 8295 4900

langfordrussell.co.uk

Park Farm road - Br1

Locksbottom 01689 882 988 Orpington 01689 661 400 West Wickham 020 8432 7373

£1,725,000 F/H

A magnificent six bedroom newly built home with four bathrooms, three reception rooms and superb kitchen/dining room with Siemens appliances. Under floor heating throughout and a double integral garage situated behind private gates. Located close to both Bickley and Elmstead Wood stations. Internal viewing is highly recommended to fully appreciate this spectacular property. Energy Efficiency Rating C.

Please contact our Chislehurst office for more information: Tel: 020 8295 4900 Email: chislehurst@langfordrussell.co.uk

LangHam CLosE - Br2

£1,150,000 F/H

CoPErs CoPE road - Br3

£950,000 F/H

Offering secluded gated living in the desirable location between Bromley Common and Keston, Maple House is an impressive contemporary residence built approx 5 years ago. Accommodation comprises five bedrooms, two receptions, kitchen/ breakfast room, utility, downstairs WC and conservatory, bathroom and two ensuites, garden and garage. Energy Efficiency Rating C.

Detached property comprising entrance hall, modern fitted kitchen with WC and utility room, 22ft lounge, conservatory, dining room leading to landscaped garden and garage to the front. To the first floor is a galleried landing, five bedrooms and family bathroom. Viewing is highly recommended to appreciate the internal accommodation that this property offers. Energy Efficiency Rating E.

Please contact our Locksbottom office for more information: Tel: 01689 882 988 Email: locksbottom@langfordrussell.co.uk

Please contact our Beckenham office for more information: Tel: 020 8663 4433 Email: beckenham@langfordrussell.co.uk

PLease CaLL YOur LOCaL OffiCe fOr a free saLes Or Lettings vaLuatiOn The Acorn Group, incorporating:


SPOTLIGHT

South London

HAPPY FAMILIES New family homes are now available at Greenwich Square

The eagerly anticipated townhouse collection of family homes is due to launch this summer at landmark regeneration scheme, Greenwich Square. Developers Hadley Mace will be offering a bespoke range of 38 four-bedroom townhouses. Spread over three floors, each townhouse spans 1,350 sq ft and has a private rear garden that's perfect for families to enjoy and relax in. These new homes have been designed to the highest quality by Interior Architecture UK and feature bright, open plan living spaces, timber floors, beautiful Italian kitchens and a choice of colour palettes for buyers to choose from. In partnership with the GLA, Royal Borough of Greenwich, and NHS Greenwich, Greenwich Square will create a new public square surrounded by cafes and restaurants as well as providing access to the new Greenwich Centre with its gymnasium, swimming pools, library and medical practice D Price of a four-bedroom townhouse anticipated to start from ÂŁ750,000.

Savills 0800 077 8177 savills.co.uk

PROPERTY | 165


an expert's view: How South East London found its stride and where to invest right now Graham LAWES Associate Director of Residential at JLL

How have perceptions about living in South London and South East London changed in recent years? Greenwich, Blackheath and Dulwich have become very popular residential areas in recent years due to the quality of living provided within these village-style areas. They offer wonderful independent shops and eateries, and their characterful properties have access to convenient transport links to Canary Wharf and The City. We often hear that these attractive areas of South East London offer much better value than West and North London. How has Canary Wharf ’s growth as a financial district, and the construction of Crossrail, affected builds and prices in the surrounding areas? Crossrail is a huge selling feature for areas such as Woolwich, where property prices are set to boom as a direct result of it. The growth in the financial district of Canary Wharf has also added to the demand for residential properties in the surrounding areas. When you combine these factors with the short supply of property available, the prices of these properties are set to increase more so than any area outside of London.

JLL

020 7337 4002 jll.co.uk

166 | PROPERTY

What kind of buyers, such as families or young professionals, is the South East attracting? Greenwich and Blackheath buyers are typically professional couples, often in chain free positions, with excellent affordability capacities. We find that most of our sellers are families looking to upsize after having started a family. Which areas within the South East do you think are ones to watch? Areas surrounding established markets such as Greenwich and Blackheath are worth noting. As prices in these core areas become stronger and stronger, first time buyers move into areas close to their initially preferred areas. Areas which have already taken off are St Johns, Brockley, and Telegraph Hill. Areas with good potential for the future include Lewisham, Deptford and Woolwich. What tips would you give to buyers investing in a competitive market? In this rapidly rising market we would suggest that buyers are not scared of over spending. That might sound callous and calculating, but we regularly come across buyers that have missed out on numerous properties at open day, and simply do not want to miss out on any more – learning by their own experiences if you like. Any time spent waiting or missing out on a purchase is costing the buyer money as the market rises by almost 1 per cent per month in some areas.


SOUTH LONDON SHOWCASE

DEVELOPMENT FOCUS

PROMENADE PRESTIGE

A RARE FIND

Thanks to Banner Homes, you can now enjoy the best of both worlds. Promenade de Verdun, its most prestigious development to date provides a tranquil environment that also offers easy access to London with excellent connections into London Victoria and London Bridge. Located in one of Surrey’s most exclusive addresses, this gorgeous new development features two luxury new build Arts and Crafts styled homes. With over 7,500 square feet of accommodation, each home features seven en-suite bedrooms, a purpose built office, self-contained staff quarters, wine room, games room, cinema, triple garage and gym with a separate steam room, while the Beech House also offers a first floor library.

The Heights is an exclusive development located close to the much sought after village of Warlingham; a little oasis away from the hustle and bustle of city living. Dacres and Mowbrary House are two five bedroom detached houses each of which have been individually designed with over 3,000 square feet of seamlessly modern accommodation. Careful consideration has been given to the specification with underfloor heating throughout, natural wood finishes and all principal rooms are wired for a multi-media system. The area offers a good choice of schools and there's a regular train service into both London Victoria and London Bridge, via nearby Upper Warlingham and Whyteleafe South train stations.

SOMETHING FOR EVERYONE A new collection of homes are available at the award-winning development, Oval Quarter. These Shared Ownership homes make owning beautiful property in a thriving new community a reality, because one and two bedroom apartments and three bedroom townhouses are made accessible without compromising on quality. Each home boasts a fully-fitted kitchen with an integrated Smeg fridge freezer and washer dryer, a spacious bathroom and access to an individual balcony, terrace or garden. As part of a wider regeneration scheme, the development is its own neighbourhood of open streets and on-site facilities – including independent boutiques and an ever so handy express supermarket.

WEBB ESTATE, CR8

Southview ROAD, cr6

Oval Quarter, SW9

From £4,500,000

From £1,200,000

From £124,000 for a 40 per cent share of £310,000

ACORN new homes

Notting Hill Home Ownership

BANNER HOMES

020 8668 7217 bannerhomes.co.uk

020 8315 6996 acornnewhomes.co.uk

020 8357 4444

/

nhhg.org.uk/oval

PROPERTY | 167


Gibson Square Islington N1

£1,550 per week

This premier house is located on Islington’s handsome Gibson square which is within easy reach of Upper Street. The property comprises a double reception room, stylish open plan kitchen/dining area, 3 double bedrooms, en-suite & family bathroom. EPC rating E LETTINGS

020 7226 4221

lettings.islington@chestertonhumberts.com

chestertonhumberts.com

Additional charges apply. Administration: £222 (VAT included). References per tenant: £42 (VAT included)


Melody Lane Highbury N5

A stunningly stylish 4 bedroom, modern townhouse, set within the sought after Melody Lane development off Highbury Grove, close to Highbury Fields. This beautiful house features integrated SONOS throughout, under floor heating & private parking.

ÂŁ1,895,000 guide price

freehold

EPC rating C SALES

020 7359 9777

sales.islington@chestertonhumberts.com

chestertonhumberts.com


OPINION

INSIDER KNOWLEDGE Diana Alam Head of Development Sales & City Office at JLL

How is the Crossrail impacting prices and new builds across London? We have seen the impact from Crossrail increase as it is nearing completion, albeit this is still an estimated five years away. With current market activity and the sheer number of investors looking at capital growth, Crossrail has given a real boost in demand from East to West London. To enhance growth further, over-site developments have been identified at 13 Crossrail stations (so far), such as Tottenham Court Road, Farringdon, Liverpool Street, and Whitechapel, where more than three million sq ft of office, retail and residential space will be created. The current debate regarding the proposed Crossrail 2 (from Wimbledon to Alexandra Palace), with Tottenham Court road as the central link, suggests future impact will be substantial throughout the route. Has the presence of Crossrail had any effect on which developments and properties JLL has recently chosen to work with? Two current developments that JLL recently launched have seen

unprecedented demand. The first example is Stratford Central, a Telford Homes scheme next to Westfield, and Stratford international station where Crossrail will travel through. We launched a UK availability of more than 60 apartments and sold out over the three day exhibition in April 2014. Secondly, we launched a development in Canary Wharf, again another Crossrail link, where the developer Mount Anvil looked to pre-sale 20 apartments, but due to exceptional activity has now sold more than 50 per cent of the development. The focus of Crossrail as well as other growth factors has made both developments a real success story. For those investing in property, which areas in London do you believe are ones to keep an eye on? In my opinion the key areas to focus on are Tottenham Court Road (the Crossrail centre point), Victoria (a neighbour of Knightsbridge with great connections at a fraction of the cost) and regeneration areas such as Dalston and Hackney where future growth should be significant. Obviously, looking anywhere along the Crossrail route should add value, however, if Crossrail 2 is approved it is certainly worth looking into the proposed route where we would see stations in areas such as Angel, Clapham Junction, Tooting Broadway and previous hot spots such as Dalston Junction and Victoria.

JLL

020 7337 4004 residential.joneslanglasalle.co.uk

170 | PROPERTY


THE BEST IN LUXURY, TRANQUILITY AND ACCESSIBILITY

PROMENADE DE VERDUN, PURLEY, CR8 3LN Purley to London Bridge in 22 minutes Set along the charming tree-lined Promenade de Verdun, Beech House and Poplar House occupy a prime position within the prestigious Webb Estate, with excellent links to central London. Offering up to 8,000 square feet of sumptuous interiors, these homes boast the finest specification with features including a gym, library and wine store.

7 bedroom homes priced at ÂŁ4,500,000 Viewing by appointment only Thursday to Monday, 10am to 5pm Photography features Plot 2, Poplar House. Price correct at time of print.

Take a closer look 0845 899 7235 promenade-de-verdun.co.uk


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16/05/2014 16:55

The City Magazine June 2014  

Welcome to the June edition of The City Magazine, celebrating the dynamism of the area and bringing you the latest features, articles and re...

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