The City Magazine January 2012

the city m a g a z i n e

Investment dress like Bond invest like Buffett

finance fashion motoring interiors property JANUARY 2012 i s s u e 5 1

contents

motoring investment sport all about the money luxury.gadgets porsChe design ..............................................................

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feature 10 The Return of St. George G eorge Clooney reaffirms his status as one of Hollywood’s true heavyweights CaliforniCation

14 A is for Ariadne A nnabel Harrison talks to Julie Meyer, the impressive, articulate CEO of Ariadne Capital

At one point, the waiting list for a Ferrari California was three years; not surprising for a car that combines the style of a Spider with the speed of a F430

S

o obsessed with aerodynamics was the team behind the new Ferrari California that the car was put through more than 1,000 hours of wind-tunnel testing before the final design was approved. Testament to this attention to detail, the California is now the most aerodynamic Ferrari ever produced, although the car’s bragging rights don’t stop there.

It may be 180kg heavier and 30hp less powerful than the iconic F430 but the California matches its stable mate in every other aspect that matters.

The car will accelerate to 62mph in less than

four seconds and, given the room, can reach a top speed of 193mph. Coupled to a sevenspeed dual clutch transmission, the California’s 4,300cc V8 engine features direct fuel injection that both enhances performance and reduces fuel consumption. Innovative touches come in the form of a folding hard top, flat crankshaft and exclusive F1-Trac traction control.

While the modern-day California may hark back to the looks of the original 1957 model, as the first Ferrari to feature multi-link rear suspension and a front V8 engine, the current car is very much a motor for a 21st century driver. n

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collection 22 Investing in Watches

T imothy Barber highlights the timepieces worth keeping an eye out for

26 First Place Precision T he brand director of Zenith UK explains how the company’s timepieces imitate the complexity of the constellations

Eyes

for your

comment 46 Under One Roof R ichard Brown meets J. P. Morgan’s Chief Finance Officer ahead of the company’s symbolic relocation

Photographer:

James Knapp Fashion Editor:

Lucie Dodds

only

White lace dress, £7,050, white evening shirt, £295 and velvet bowtie, £145, all Tom Ford at Harrods Knightsbridge, www.tomford.com Pearl necklace, £45,700, pearl and pavé diamond earrings, £19,500, both Mikimoto, 179 New Bond Street 020 7399 9860, www.mikimoto.co.uk

watches collection

Investing in

Watches

calibre

While not the most conventional form of investment, some watches can provide their owners with a significant return on their money. Timothy Barber, editor of 00/24 WatchWorld magazine, highlights the timepieces to keep an eye out for

56 High Octane Investing

I

t wasn’t vintage nor was it even popular when it was launched into the market in the mid 90s. However, these were both things that made the platinum Patek Philippe Reference 5020 – Lot 138 in Bonhams New York’s pre-Christmas auction last year – rather special.

Known as the “TV watch”, because of its cushion-shaped dial and case, the chronograph with perpetual calendar piece had been brought out by Patek in 1994. At the time, buyers didn’t go for its slightly unusual look and the Swiss company shelved production after two years due to a lack of interest.

In the years since then, the watch collecting market has blossomed and Patek’s former ugly duckling became a highly sought-after piece. Around just 200 were ever made, less than 20 of these in platinum, and only five had ever cropped up at auction. When the hammer fell in December, the watch went for $338,500 (approximately £218,000) – more than twice what you’d expect to get for a more common Patek with an identical movement inside.

Here’s another story involving Patek Philippe. Last summer

A n old car is the up-and-coming place to put your money, says Matthew Carter

at a charity watch auction, Only Watch, in which pieces were sold that had been specially made for the occasion, Patek’s entry was a tourbillon minute repeater. Gold or platinum versions of this watch normally fetch about half a million dollars. The Only Watch model, however, was made of plain old stainless steel – on paper, a less valuable watch. But, as a one off, it sold for $1.4 million (approximately £902,000).

Watches may cost more than houses in the rarefied world of Patek Philippe but similar rules apply as prices drop to more fathomable levels. It isn’t just material worth, perceived beauty, technical brilliance or vintage status that gives a watch its value; quirks, rarity and back stories are the things that separate out the truly investable pieces.

This wasn’t always the case. The investment market for wristwatches really only took off in the past 20 years – before this, clocks and pocket watches were the things that more commonly appeared in auction houses and vintage dealerships.

Although enthusiasm for watch collecting increased in the 90s, buyers were a lot less discerning than they are now.

68 It’s All About the Money L ee Brooks takes a look at how sport has become a multi-billion pound industry

Main image: Calibre-945, Jaeger-LeCoultre Right: Master Geographic, Grande-Reverso-976, Master Moon Ultra Thin All Jaeger-LeCoultre

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concierge 78 For Your Eyes Only E xquisite evening wear, watches and jewellery inspired by James Bond

connoisseur

104 Caribbean Odyssey O livia Sharpe deems Jade Mountain in St Lucia the pinnacle of romantic destinations

regulars 9 editor’s letter

93 interiors

19 watches & jewellery

103 travel

67 sport

115 food & drink

73 fashion

118 out & about

89 health & fitness

121 property

contributors...

RUNWILD M

E

D

I

A

G

R

O

U

P

Editor-in-Chief Lesley Ellwood

Editor

Annabel Harrison

Fashion Editor Lucie Dodds

Motoring Editor 1. Chelsey Baker is a business advisor and life

coach, she has been featured extensively in the national media as a leading entrepreneur and runs her own consultancy firm Success Media. Chelsey is a freelance journalist and motivational speaker.

Matthew Carter

Assistant Editors Richard Brown Gabrielle Lane

Editorial Assistant Olivia Sharpe

2. David Kuo is one of the UK’s leading

commentators on money matters. He is a director at The Motley Fool as well as providing daily insight and financial news for BBC London’s Breakfast Show.

3. Matthew Carter is a London-based freelance journalist who’s been writing about cars for most of his working life. A former editor of Autocar magazine, he is a serial car owner.

4. Martin Bamford is one of the youngest and most successful financial planners in the UK. He runs his own firm of financial advisers – Informed Choice – and regularly contributes to various financial publications.

5. Carol Cordrey is an art critic and editor

Head of Design Hiren Chandarana

Brand Consistency Laddawan Juhong

Senior Designer Dalton Butler

Designer

Ashley Lewis

Production Manager Fiona Fenwick

Production

Hugo Wheatley

with popular columns in many magazines. Each year she organises sponsored art competitions offering attractive prize money and judged by distiguished artists.

Senior Project Manager

6. Clare Murray is founder and managing

Elton Hopkins

partner of specialist law firm, CM Murray LLP. Clare and her colleagues advise a wide range of companies, professional firms and senior individuals on employment, partnership and business immigration law issues.

Ella Kilgarriff

Head of Finance Managing Director Eren Ellwood

7 Heron Quay, Canary Wharf London, E14 4JB T: 020 7987 4320 F: 020 7005 0045 www.runwildmedia.com the city magazine J A n uA r Y 2012

See p. 78

m a g a z i n e

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.

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from the editor...

January

P

eople talk about this being an uncertain time [but] all time is uncertain. It was uncertain back in 2007; we just didn’t know it was uncertain. It was uncertain on 10 September 2001. It was uncertain on 18 October 1987; you just didn’t know it.” These words were spoken by the man widely regarded as the greatest money manager of the 20th century in an interview with CNBC on 22 September 2010.

Warren Buffett was just 11 when he bought his first shares and by the time he left college, having invested in the New York Stock Exchange as well as in a local farm, he had amassed savings worth £57,000 in today’s money (p. 45).

Welcome to our annual Investment Issue, in which we take inspiration from Buffett’s ethos of working hard and spending wisely. Whether you’re interested in tangible or intangible assets, we explore the wide range of ways in which you can make your money work harder for you in times of economic uncertainty. Julie Meyer, CEO of Ariadne Capital, explains why her company invests in entrepreneurs, how to spot the most profitable opportunities and what it takes to succeed in her competitive market (p. 14). David Kuo argues that investing in shares should be part of our long term financial plans, even during economic downturns, citing Buffett’s approach as a prime example: he has seen his investment in Coca-Cola increase seven-fold since the late 1980s (p. 51).

If you want to be able to watch, wear or drive your investment, our specialists spell out the most exciting ways to spend, although the overriding advice is this: buy things you love. Paul Maudsley of Bonhams, in discussing watches, explains that “it really is, principally, about enjoying them” and Max Girardo, the head of RM Auctions in Europe, agrees that “it’s all about passion. Our customers love and enjoy their cars.”

Timothy Barber of 00:24 WatchWorld magazine explains why you should check the dial of your dad’s Rolex from the 60s (p. 22); Matthew Carter speaks with infectious enthusiasm about old cars, an up-and-coming place to put your money (p. 56); and Carol Cordrey explains why, while spending decreased elsewhere, there was a rise in the sale of fine art last year (p. 100).

Finally, all that remains is for me to congratulate ICAP on raising an incredible £12.75 million worldwide on its annual Charity Day (p. 35), providing much-needed assistance to the 200 chosen charities. This is certainly a fantastic way to invest time, skills and resources each year.

I wish you all a very happy, prosperous 2012.

Annabel Harrison Editor

feature interview

The Return Of

St. George George Clooney is back – maybe only fleetingly in the eyes of the masses around Leicester Square but for long enough to reaffirm his status as one of modern film’s true heavyweights, as Steven Milton finds out

T

here’s a change in the air that signals George Clooney’s imminent arrival. The seedling of a faint hum strains to an audible decibel as it becomes clear the actor is on his way. Growing distinctly louder, the sounds of tottering stiletto heels and snapping clipboards filter in, diluted by a wash of well-wishers, and the man himself politely ordering a chicken salad. Door flung open, he’s here, haloed by a swathe of his own brand of hazy Hollywood sunshine. Lackeys swarm, offering a stern warning that this interview will last a few precious moments. “And not a second more,” Clooney himself offers, brandishing that killer grin which has undoubtedly played a part in how he came to amass his fortune.

Disarmingly casual in a black leather jacket and faded, scruffy jeans, Clooney is still remarkably dapper and, let’s be honest, ridiculously handsome. The hazel eyes and salt-and-pepper-coloured coiffure show no evidence of recession strains and with no telltales signs of cosmetic tampering – though it surely must be a given, mustn’t it? – it seems the gods were more than generous when creating this physical specimen.

In town to promote his two latest offerings, recent directorial release, The Ides of March, and emotional drama, The Descendants (in UK cinemas this month), the modern-day screen idol has caused quite the press furore in central London, with a mere sneeze dominating the headlines. So we wisely treasure the time we have with the man before us. Both The Ides of March and The Descendants positively reek of awards buzz: the former sees Clooney portraying a glossy, unscrupulous candidate in the running for a Democratic presidential nomination; in the latter, he plays a fair-weather father trying to reconnect with his distant offspring. Come Oscar time, this will possibly lead to a glaring conflict of interests.

“It’s a very weird concept to think of competition when referring to what I still think of as creative art,” he replies, deftly manoeuvering into this slick response. “I never think of competing. I mean, you compete at the box office, but awards, what’s the point? I don’t really think about it. I don’t want to think of it as a race with anyone.

“Yes, I direct The Ides and Alexander [Payne] directs The Descendants but I really don’t want to compete with him

10

interview

feature

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feature interview

on any level. If it ends up that way... well, it’ll make for some interesting conversations, I guess.” In recent years, the Oscar winner’s career has changed trajectory, migrating behind the camera for Confessions of a Dangerous Mind, Leatherheads, Goodnight Good Luck and now The Ides of March. Could a permanent relocation to the director’s chair be on the cards? “Possibly,” he smiles. “For the last decade or so, acting has become less of a priority and I could see myself doing [directing] in the long run. But it takes a long time to get done and right now my bread and butter is still acting. It just depends on the projects and scripts that come my way.”

This isn’t Clooney’s first visit to the BFI London Film Festival, the base of our interview, having attended for the premiere of Fantastic Mr. Fox last year. So what is it exactly that appeals about this festival and the city in general? “To showcase my movies in this forum is incredibly special and important, and it’s a way of gauging how they’ll be received. As regards London, who doesn’t like coming to London? It’s the perfect city – culture, beauty and a metropolis all rolled into one.” Any particular favourite spots? “Anywhere down by the river.”

Flashbulbs have also been going wild for Clooney’s current arm candy – former model and wrestler Stacy Keibler, the latest in a revolving door of lovelies including Italian beauty Elisabetta Canalis and model Lisa Snowden.

Does the intrusion into his personal affairs become tiresome or is it simply par for the course? “Look, I say over and over, I can handle it,” he replies. “I’m an adult who’s been in this world for a while. I know what people are going to ask and it doesn’t bother me in the slightest, within reason.

But I’m an actor. I would always rather talk about the films.

However, I understand the compromise in this situation.”

In The Ides of March, where he shares the screen with an awesome cast including man-of-the-moment Ryan Gosling and fellow Oscar winners Phillip Seymour Hoffman and Marisa Tomei, Clooney’s onscreen political

aspirations possibly reflect his own, much rumoured, move towards Washington. Are the rumours true or false?

“False,” he grins, seemingly amused by the notion. “It’s never ever going to happen! I may dip my toe in and out of the arena with my own humanitarian work but I have no interest in politics whatsoever. It’s just not the world for me, although where people pick up these rumours from, I don’t know. I worked on K Street [in Washington, D.C.] many years ago for 14 weeks so, in a way, I know how that world works. And from my father’s own campaign, [Nick Clooney ran unsuccessfully for a seat in the US Congress in 2004], I picked up many memories and influences for this movie, but that’s the extent of my political ambitions. If I had wanted to get into politics, I would have done it by now.”

The Descendants sees George reconciling with his two daughters after their mother suffers a severe boating accident, leaving her in a coma. Playing a father isn’t something new for the actor but must always feel a novelty, having no children of his own. “I’ve played parents in several films ­– One Fine Day, Syriana – and I like it. It gives me a chance to tell kids what to do, something I don’t have in my own life! It’s strange though, because I do feel genuinely paternal in those films. Amara [Miller, co-star in the movie] hadn’t even been in a school play, let alone a movie, so it was great to help, guide and advise as best I could.”

He adds: “Anyway, you don’t have to be a father to play one, much like you don’t have to do drugs to play a drug addict. I’m not campaigning for President, but I can play a candidate. Most of the time you don’t have to have those things in your life to understand what it was like – that’s acting, I suppose.”

With that last response, Clooney is immediately ushered out of the room by panicky flunkies without getting the chance to exchange departing pleasantries or even a handshake. Such is life for a man on the throne of the Hollywood royalty. n

“Who doesn’t like coming to London?

It’s the perfect city – culture, beauty and a metropolis all rolled into one”

12

feature interview

A

Ariadne

is for

“Ariadne was a Greek goddess, it’s a feminine name and alphabetically it’s up there at the top of the list. We like to be at the top.” Annabel Harrison meets Julie Meyer, the impressive, articulate CEO of Ariadne Capital who most certainly knows her stuff

H

aving graduated with a degree in Humanities and English Literature from Valparaiso University in 1988, Meyer left the US for Paris and London. Initially advising technology firms and backing entrepreneurs in Paris and then London, Meyer quickly learnt her trade and ten years later founded First Tuesday, the network of entrepreneurs which many credit for igniting the internet generation in Europe, and which was sold in 2000 for approximately £33 million in cash and shares. Entrepreneur, adviser and investor, Meyer has since been named one of INSEAD’s Top 50 Alumni, the World Economic Forum’s Global Leader of Tomorrow, one of TIME Magazine’s Digital 50 and one of the Top 30 Most Influential Women in Europe. She is also one of the Online Dragons in the BBC’s Dragon’s Den Online. In 2000, Meyer founded City-based Ariadne Capital, a specialist technology investment and advisory firm; she and her team back entrepreneurs in the media, mobile internet and communications, financial services, CleanTech and internet sectors.

What factors led to your decision to found Ariadne?

I sold First Tuesday on 20 July 2000 and after I took a trip to India and to South Africa, I thought, “I’ve got to get out there and do something again”. I had a vision of creating a people network and a support system that would lead to a unique ability to invest, and which would create the gold standard in financing entrepreneurship. In the same way, a lot of people could have said about First Tuesday that it was a case of “the right place at the right time” and riding a big wave... Criss-crossing Europe with First Tuesday, I did meet amazing entrepreneurs but the venture community, the financiers of entrepreneurship, would say things like, “Julie, venture capital as an asset class in Europe has never worked and we don’t have a high enough quality of entrepreneurs”.

It was like the pot calling the kettle black, because the quality of entrepreneurs was world class but the financing was not. There was an opportunity to create that gold standard; the market was still inefficient, but I could be part of driving the efficiency in the market for this way of financing entrepreneurship.

In the first couple of years, it’s important just to be out there in the market: I needed to set up a store front and find a team of analysts to work with me and I needed to be engaged with entrepreneurs, while learning. I believe in that process of iteration and what good entrepreneurs must learn is that

14

things are not perfect: you can’t be comfortable with shoddy products, but you have to get out there in the market.

Why do entrepreneurs choose to work with Ariadne?

Entrepreneurs know that we are on their side; we stand shoulder to shoulder with them and do not let go when things get difficult. There might be a firestorm of publicity, there might be investors who abandon them, but we will be their confidante and we will stick with them once we engage.

We know how digital business models are affecting industries and we work with entrepreneurs that want to achieve explosive growth in these industries.

What do you find the most fast-moving and challenging sector of the media industry?

I think we’re going to work through this debt in Europe and the western world over the next five years and then, already you can see it happening, that the companies that we’re building are going to be part of a new system of which individual, businesses, governments and corporates are all a part. It’s going to be something different from what we’ve experienced since World War II, this kind of notion of a Welfare State with big businesses in the lead; the new model is going to be led by entrepreneurs, because they have the most credibility and are driving the top line revenue.

The individual capitalists, the guys under 30, don’t think that they work for anyone anymore, even the ones who work for me. There’s a concept of the individual as the unit of trade and capitalism, which I think is really valuable, because I was that way when I was 23 years old.

Can you tell me about the growth of your company and its place in the wider market?

We’ve had three different phases and we’re in our third.

Today we have three parts of the business: a seed digital fund; a corporate finance advisory, investing in the start-ups; and Entrepeneur Country. We have six directors, 15 people in total, and a very clear five-year plan, along with goals for each of the three businesses. We started off as a private investor network, entrepreneurs backing entrepreneurs, and I think we’re the first people to do that.

The recession made the team tighter: when you’re dealing with a lot of start-ups, you can’t help but feel the shock waves.

If we have, perhaps, ten active mandates or active portfolio relationships at any one time, in addition to running three

xxxxx

feature

15

feature interview

businesses ourselves, that’s a lot of stress and work, but this doesn’t come as a surprise. In 2009 I made some bets about the firm, which have paid off quite handsomely; bringing on people and growing as opposed to reducing.

What do you enjoy most about your role?

I like winning. It’s a very un-British thing to say, but I like to claim victory and to work hard to get to a point where I can look back and say, “I did that!” or “that worked!”

If it doesn’t work, I don’t beat myself up. I just say, “What can I learn?” I’m very competitive with myself. As a kid, if I got an A- or B+, my mum would say: “That’s very good, but you know you can get an A”. I like the culture that we’ve created in the firm; it’s supportive and constructive around growing and achieving. It can be very political and difficult to talk about some bits of the work that aren’t working, but I think we’re winning more than we’re losing.

In backing entrepreneurs, what key qualities do you need to have to succeed?

You have to have a lot of empathy, to be able to put yourself in the shoes of the entrepreneur and to be nonjudgmental, [always remembering] it could be me over there with the bank pulling my overdraft. Alastair Lukies at Monitise, one of my favourite entrepreneurs, said: “You can’t build an ecosystem without humility.” At the same time, you have to have a lot of confidence to present to the world your vision. You also have to work incredibly hard and be very market-focused; gather information, process it in a fairly dispassionate way, but remain a conceptual thinker.

Banks are backward-looking by definition because they’re analysing data, but entrepreneurs are saying: “I don’t know why, but I have a gut feeling that that market is going to open up, or that the convergence between these two things is going to take off.”

It takes a lot of intuition and consideration about how many times has that person been right before with their gut instinct. It’s a market feel as opposed to imposing numbers on something. Start-ups must keep the operating model of the firm very, very low; you’re experimenting with different elements of the product and you have to do that at a low cost.

Who have been your role models in business throughout your career?

I was lucky to work for Tom Teichman – my very first boss in this country. He’s now running SPARK Ventures. I learnt a lot from him, in terms of how to build an advisory firm and to grow that into an investment firm, so I definitely think I’ve taken a page out of his playbook. I worked for a great woman when I was 26 years old who helped Steve Jobs to launch the Macintosh, Andy Cunningham... I’ve learnt along the way from a lot of people. I’m a big stealer of ideas and I love to read on the weekends; I buy 20 magazines and I flip through. I love absorbing information.

You came to Europe when you were 21; have you stayed in Europe permanently since?

There was a three-year period when I worked in Boston for Cunningham Communications, but I figured out that I wanted to go to INSEAD at 23 years old... I don’t quite know why, except I showed up at an open day, as an

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English Literature major, thinking that business people might look down on that, but then I met some of them and I thought: “Wow, these are really interesting people who engage with the world”. At INSEAD it really changed my model of what business school was because it was so different [from what I expected].

What do you think of London as a business and finance centre of the world?

It’s a global city. I was reading The Spectator over the weekend and Fraser Nelson said: ‘The Commonwealth is much more a better model than the eurozone”. I think what’s always attracted me is that you have the eurozone, Europe, Commonwealth and North America; London, even more than the UK, has a sphere of influence which is amazing.

Where else [does]? You could love New York or you could love Shanghai or Hong Kong, but there’s no other city in the world that has that same influence and gravitas as London, so I feel like I’m in the centre of the world here.

In terms of personal finance, what do you think the most important rule to live by is?

Well, first of all, stating the obvious, debt destroys. Get yourself out of debt and don’t be under any illusions. For anybody who’s 25, starting out, force yourself to live within your means. The things that we are seeing at a eurozone level also apply at national, company, household and individual levels; if you’re spending money that you don’t have, it’s a oneway ticket to going out of business and being bankrupt.

Once you start to have a national surplus, a personal surplus, a household surplus, a company surplus and so forth, put together a plan and make some goals for yourself.

It has that double effect of providing discipline and rigour in your life, but also a feeling of being in control. There are obviously things that are outside of your control, but work on the feeling of living within your means and achieving goals with your personal finance.

What’s also important is being able to differentiate between good spending and bad spending. What I see with friends and colleagues is that some have almost tricked themselves into thinking that they are wealthier than they are; if they actually did balance sheets themselves, they’d be shocked. We have a company called Money Dashboard, which helps you to analyse which decision to make: should I pay off my mortgage first or should I pay off my credit cards? Should I put the money into the retirement fund now?

It’s a fascinating exercise to go through. n

4 PM

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Homage to a Masterpiece

It took 200 people five years to make and incorporates six patented inventions. The world’s largest grasshopper escapement doesn’t just tell the time; it devours it

I

n 1714, the problem of determining longitude at sea accurately was considered so foremost that the British government offered today’s equivalent of £3 million to anyone who could solve it. When English clockmaker John Harrison invented the grasshopper escapement a decade later, he solved a puzzle that had baffled the world’s greatest minds for centuries. Now, 200 years on, British inventor John C. Taylor pays homage to the revolutionary mechanism with a creation that transmogrifies Harrison’s innovation. Taking its name from the Greek for ‘time eater’, the five-foot

face of the Chronophage is designed to represent time radiating from the centre of the universe like ripples on a golden pond; time itself is displayed by the opening of individual slits on the clock’s face.

While the rippling, gold-plated dial is a work of art in itself (the disk was moulded into shape via underwater explosions in a military research institute in Holland), the clock’s dominating feature is the fang-toothed monster that sits above it, snapping its jaws every 60 seconds to devour the minute that has just passed. Having been housed on the outer wall of Cambridge’s Taylor library, the Chronophage is now up for sale for £2 million. n

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watches

collection

3 Of The Best...

watch

news

Investment watches As well as looking great on your wrist, choose the following timepieces and you’re likely to see a good return for your money

For £80,000...

Patrimony Traditionnelle Perpetual Calendar Vacheron Constantin

Haute Horology at Harrods Before the end of last year, if you had ever wanted to see the latest offerings from all the major watch brands in one place, you’d have headed to Selfridges Wonder Room. Now there’s another option. Boasting the same 18,000 square feet of retail space as its West London neighbour, Harrods’ Fine Watch Room rivals the Wonder Room on all fronts.

London’s latest horological haunt has become Europe’s largest permanent watch space, hosting 13 individual brand boutiques in addition to 35

other fine watch brands. Amid the black marble surfaces, sculpted glass and minimalist display cabinets, you’ll find marvellous creations from the likes of Vacheron Constantin, IWC, Panerai and Richard Mille, to name but a few.

If you’re after an investment piece this January, look out for the five exclusive watches that were created in celebration of the Fine Watch Room’s launch (although we doubt that Breguet’s ruby-set bracelet watch and Corum’s elegant rose gold and crocodile design will be in the sale).

For £20,000...

Daytona 6263, Rolex

One to Watch This month, Lyndon Jarvis, Manager at Watches of Switzerland in the Royal Exchange, chooses what he considers the best watch to invest in

“The ultra-thin perpetual calendar ranks among Patek’s most iconic timepieces.

Emphasizing the watch’s slender silhouette, the 2006 edition is the perfect addition to any investor’s collection”

5140G Grand Complication £61,440, Patek Philippe Available at Watches of Switzerland, 22 Royal Exchange

For £5,000...

Heuer Monaco Calibre 12, TAG Heuer

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watches

collection

Investing in

Watches

While not the most conventional form of investment, some watches can provide their owners with a significant return on their money. Timothy Barber, editor of 00/24 WatchWorld magazine, highlights the timepieces to keep an eye out for

I

t wasn’t vintage nor was it even popular when it was launched into the market in the mid 90s. However, these were both things that made the platinum Patek Philippe Reference 5020 – Lot 138 in Bonhams New York’s pre-Christmas auction last year – rather special.

Known as the “TV watch”, because of its cushion-shaped dial and case, the chronograph with perpetual calendar piece had been brought out by Patek in 1994. At the time, buyers didn’t go for its slightly unusual look and the Swiss company shelved production after two years due to a lack of interest.

In the years since then, the watch collecting market has blossomed and Patek’s former ugly duckling became a highly sought-after piece. Around just 200 were ever made, less than 20 of these in platinum, and only five had ever cropped up at auction. When the hammer fell in December, the watch went for $338,500 (approximately £218,000) – more than twice what you’d expect to get for a more common Patek with an identical movement inside.

Here’s another story involving Patek Philippe. Last summer

at a charity watch auction, Only Watch, in which pieces were sold that had been specially made for the occasion, Patek’s entry was a tourbillon minute repeater. Gold or platinum versions of this watch normally fetch about half a million dollars. The Only Watch model, however, was made of plain old stainless steel – on paper, a less valuable watch. But, as a one off, it sold for $1.4 million (approximately £902,000).

Watches may cost more than houses in the rarefied world of Patek Philippe but similar rules apply as prices drop to more fathomable levels. It isn’t just material worth, perceived beauty, technical brilliance or vintage status that gives a watch its value; quirks, rarity and back stories are the things that separate out the truly investable pieces.

This wasn’t always the case. The investment market for wristwatches really only took off in the past 20 years – before this, clocks and pocket watches were the things that more commonly appeared in auction houses and vintage dealerships.

Although enthusiasm for watch collecting increased in the 90s, buyers were a lot less discerning than they are now.

Main image: Calibre-945, Jaeger-LeCoultre Right: Master Geographic, Grande-Reverso-976, Master Moon Ultra Thin All Jaeger-LeCoultre

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“The advent of the internet made the collecting world so much smaller,” says Paul Maudsley, director of watches and clocks at Bonhams London. “You used to get people collecting lots of watches quite indiscriminately but people are a lot more knowledgeable now. They’ll focus on particular brands or movements, search them out online, discuss them in forums and really target what they’re after.”

In other words, watch collecting – and by extension, watch investing – is something that plays to the nerdishly inclined. Miniscule variations in design can add serious value and the rarer the better. To the collector, for instance, a vintage Rolex Sea-Dweller is one thing; a vintage Rolex Sea-Dweller with the words ‘Sea-Dweller / Submariner 2000’ printed in red letters on the dial in two lines means an early model and is considerably more special – it’s known as the Double Red. A version just with a single red ‘Sea-Dweller’ marking is a practically mythical thing and few have ever seen one in the flesh. To most people, though, these all look like the same watch.

Other things that add value include having an original dial – older watches have often had dials retouched or replaced, something that significantly detracts from its worth – and the watch still being sold with its original box and transactional papers. The less sign of it ever having been – shock, horror – worn, the better.

Among such obsessiveness, investment – as opposed to collecting out of passion – is something of a dirty notion. As one specialist collector of Patek Philippe, Jaeger-LeCoultre and Zenith watches says: “If you’re going to collect watches, collect them because you love them and because you’re going to wear them and enjoy them. If you’re knowledgeable about what you’re buying, then other [financial] considerations do come into play, but [a purchase] should always be because you love the watch.”

Paul Maudsley of Bonhams agrees.

“I don’t have people phoning me up saying they’ve got £200,000 to invest, what have we got coming up? It really is, principally, about enjoying the watches.”

Nevertheless, watches are a tangible asset

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in which auction prices have held up despite the economic woes of recent years and December’s pre-Christmas sales were particularly successful. “Now people want to put their money into things that are safer, but also interesting and exciting,” says collector and dealer Phivos Ethelontis, who set up London auction business Watches of Knightsbridge last year.

“It’s somewhere to put your money that is enjoyable but can also reap benefits. Once you get hooked, you start to build a collection, and then it becomes obsessive.”

Watches Ethelontis auctions range from interesting vintage pieces worth a few hundred pounds to rare Rolexes worth tens of thousands. The safest investments in the watch world are always going to be with Rolex and, even higher up the scale, Patek – no other brands can match these two behemoths in terms of historic consistency, excellence and prestige – but there’s plenty of activity elsewhere in the market.

Other prestigious brands that go for strong prices, such as Audemars Piguet, Jaeger-LeCoultre, Vacheron Constantin and A. Lange & Sohne, for instance, require even more selectivity, but there are specialist collectors at all ends of the market.

The key to good investment is eventually to specialise in one or two areas – be it in Heuer chronographs, Omega Speedmasters or 1920s dress watches – and become an expert in spotting key pieces. Ethelontis recommends vintage military watches as a good investment area at the affordable end. “There’s not many around now because they stopped making mechanical military watches in the 70s, but there’s provenance and stories behind them and prices are likely to go up,” he says.

Where prices won’t go up are in new watches, unless your new watch is a top-end Patek. A £20,000 Hublot or £9,000 Panerai bought brand new at Christmas will only lose its value over coming years, and trying to second guess what will eventually become a collectible a decade down the line is an almost impossible task. Nevertheless, for those with deep pockets, top-end watches from independent workshops, like Greubel Forsey and FP Journe – of which very few are produced a year, for six-figure sums – are already showing good auction returns.

Meanwhile, that Rolex your dad bought in the 60s and has promised to pass on to you, get him to check for any red writing on the dial. n

Left: 5270G Chronograph with Perpetual Calendar Patek Philippe

First Place

precision Considering it almost perfect, in 1865 Swiss watchmaker Georges Favre-Jacot chose to name a movement he had created after the word that designates the highest point in the universe. Nearly 150 years later, Richard Brown discovers that Zenith’s intricate timepieces continue to imitate the complexity of the constellations

I

f the trophy cabinets of the world’s leading watch brands were to be assembled together in one room, you can be certain that one cabinet would be fuller than most. That is, of course, if Zenith’s hoard of awards managed to make it through the door.

Over the last century and a half, not only has the Swiss manufacturer notched up a prodigious 1,420 international decorations for its precision timepieces but of those 1,420, 1,398 have been awarded first place prizes. This is rather impressive for a manufacturer that in 1975 was ordered by its US owners to discontinue its mechanical watchmaking operations and send to the scrap yard all of its horological machines, calibres and tools.

Luckily for Zenith, it was an order that Charles Vermot, head of the chronograph studios at the time, found that he couldn’t face carrying out. At the risk of losing his job, Vermot began hiding essential tools and components, meticulously labelling, listing and classifying the cams, cutting tools, presses and machines while recording the entire production process in a notebook.

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Vermot wouldn’t have known it at the time but his actions were to prove critical to the survival of the brand. Nine years later, as the watch industry emerged from the quartz crisis and mechanical watches began to find favour once more, Vermot’s deeds allowed Zenith to reinstall the entire set of watch-making equipment that would have otherwise been scrapped. The brand that had bestowed upon the world its first automatic chronograph movement, the El Primero, was back in business and now it was being approached by a host of other illustrious manufacturers who sought the company as a supplier for their own movements, brands that included Rolex, Ebel, Panerai, Concord and Parmigiani.

The last two decades of the 20th century saw Zenith continue to bolster its reputation as one of the most innovative watch manufacturers in the industry, most notably thanks to models such as the celebrated Grande Chronomaster XXT Open. In 2000 the brand became part of the LVMH group which decided it would henceforth reserve the El Primero movement exclusively for Zenith pieces. Today, Zenith remains a brand esteemed by industry professionals, experts and collectors alike, having just last year picked up both the 2011 Watch World Award’s ‘Watch of the Year’ and ‘Complicated Watch of the Year’ for its Christophe Colomb – a piece that spent a total of five years in development.

Of course, with reputations of greatness come great expectations, a fact of which Rebecca McDermott, Brand Director of Zenith UK, is all too aware. Luckily, says McDermott, the pressure is something the company’s master watchmakers thrive on:“Zenith’s strategy is not to invest in ‘celebrity’ ambassadors but to invest in the development of ground-breaking research and development. Precision remains our obsession and the Striking 10th and Christophe Colomb models are perfect examples of Zenith’s exclusive innovations.”

While celebrity endorsement may not figure in the brand’s marketing strategy, that’s not to say Zenith watches haven’t appeared on a number of notable wrists: Ghandi’s, JFK’s and Pope Pius X’s to name but a few. For them, Zenith represented the pinnacle of precision, “a gateway into a world of watch making above and beyond ‘mass-market’ luxury,” as McDermott puts it.

Zenith’s reputation revolves around exactitude and exclusivity; every Calibre is manufactured in-house and Zenith

only produces in a full year the number of watches some brands might produce in a week. It was in 1969, however, when the brand cemented itself as an industry heavyweight.

Before then, all chronographs required manual winding; no one had successfully managed to integrate the automatic winding mechanism into a chronograph movement. When Zenith became the first to do so with the El Primero, the most famous movement in watchmaking history, it revolutionized the entire chronograph market. The significance of the El Primero, however, as McDermott explains, did not stop there. “The movement was also the world’s first high frequency chronograph, meaning that the balance spring [the time-regulating organ] beats more times per hour than a regular watch from another brand – 36,000 times to be precise, compared to the industry standard of 28,800. The benefit of the higher frequency is that the ‘sweep’ of the El Primero’s seconds hand is created by ten beats per second as opposed to eight, meaning that the chronograph can be stopped accurate to 1/10th of a second.” To date, the El Primero remains the world’s most accurate series-produced movement.

How, then, does a brand that has for almost 150 years enjoyed industry-leading status guarantee that it remains among the watch elite? “Adaptability is key,” says McDermott. “If you’re not faster, smarter and stronger than your competition then you will fall behind. Creating products that are relevant to modern tastes is essential; however this should never be done at the expense of the traditional values that your company was founded on.”

It is a strategy that has served Zenith well, one in part responsible for the company’s CEO Jean-Frederic Dufour being announced as the watch industry’s 2010 ‘Man of the Year’. Planning once again to revolutionize the high frequency chronograph market in the coming months, and with its 150th anniversary just around the corner, the future of Zenith looks as starry as the sky from which it took its name. “The next five years will see us build on an already successful collection,” says McDermott. “Using our rich heritage as inspiration we will expand into exciting new directions.” Zenith will, no doubt, receive more recognition for doing so. Good news for Zenith; bad news for the person dusting the trophy cabinet. n

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Above from left: Zenith El Primero Striking 10th; Zenith Academy Christophe Colomb; Zenith Academy Christophe Colomb

Of course, with reputations of greatness come great expectations but the pressure is something Zenith’s master watchmakers thrive on

Zenith watches are available at Marcus, 170 New Bond Street

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collection men’s luxury

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yourself 5 8

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Stave off the January blues by indulging in attention-grabbing accessories, certain to put more than a spring in your step

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1 RZ8 Ziletto Slyder cufflinks, POA, Roland Iten at Harrods, www.harrods.com 2 RM 011 DLC Titanium Orange, £55,000, Richard Mille at Marcus Watches, 170 New Bond Street 3 Parentesi cufflinks in white gold and pavé diamonds, £2,480, Bulgari, 15 The Courtyard, Royal Exchange 4 Tambour Diver Chronograph, £30,000, Louis Vuitton, www.louisvuitton.com 5 ‘Bulgari Bulgari’ money clip in sterling silver and black onyx, £250, Bulgari, as before 6 Opus Eleven, £160,000, Harry Winston, www.harrywinston.com 7 1837 cufflinks in titanium, £270, Tiffany & Co, 9 The Courtyard, Royal Exchange 8 The Legend Safe, £215,000, Döttling, www.doettling.com 9 Horological Machine No.4 Thunderbolt Flying Panda, £145,260, MB&F at Marcus Watches, as before 10 R8 MKII Sport belt, POA, Roland Iten at Harrods, as before

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© Tiffany & Co.

Treat

162 NEW BOND STREET LONDON W1S 2UG WWW.SOLANGE.CO.UK

Runwild Dec11.indd 1

09/12/2011 10:51

jewellery

collection

3 Of The Best…

jewellery

Engagement rings

news JEWEL TONES Historic jewellery brand Fabergé has returned to the heart of London. The new store featured a special lilac façade for the festive season, emulating the brand’s renowned guilloche and enamel techniques. Fabergé collections are admired for being imbued with artistry and refined ideals of beauty and, wholly dedicated to the pursuit of perfection, the exquisite collections succeed in linking Fabergé’s ancient heritage with a sense of modernity.

Fabergé has also announced that its jewellery and watch collections are now available at Harrods. Managing and Creative Director Katharina Flohr, stated: “We are thrilled to open the doors to the first Fabergé boutique in London since 1915. This is an important moment for us and for Fabergé to continue Peter Carl Fabergé’s legacy of exquisite creations and outstanding craftsmanship. Fabergé continues to attract a customer base of discerning devotees, seeking special personal possessions and gifts which illuminate the captivating world of Fabergé, linking past, present and future.”

‘Ballerine’ platinum and diamond ring POA, cartier www.cartier.com

www.faberge.com

‘TÊte-À-TÊte’ platinum and diamond engagement ring £34,000, Van Cleef & Arpels

Cutting Edge

www.vancleef-arpels.com

Joanna Hardy has teamed up with Shizaru, the contemporary art gallery on Mount Street, to create a display that transforms jewellery from a commodity into a decorative art form

The “Contra Mundum” is a bespoke diamond glove by designer Shaun Leane and it certainly lives up to its controversial name. Giving costume jewellery a new meaning, it is bound to make even Daphne Guinness take notice, making it our pick for this month’s cutting edge item

Bespoke 18-carat white gold and 5,000 pavÉ white diamonds glove, POA Shaun Leane, www.shaunleane.com

‘Spaghetti’ diamond ENGAGEMENT ring from £18,550, Boodles 2 & 3 The Courtyard, Royal Exchange

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A kiss on the hand may be quite continental... ...but diamonds are a girl’s best friend. Whether for an anniversary or a birthday, for saying “I love you” or “forgive me”, these precious jewels could prove one of the soundest investments you’ll ever make

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Sterling Silver (25th Anniversary) A monumental milestone for any married couple, it is vital to continue to invest in the relationship and in one another. Sterling silver jewellery remains sophisticated, classic and suitable for all occasions, including important milestones in daughters’ lives, such as graduations or birthdays.

Never failing to go out of style, silver’s enduring place in fashion history makes it the perfect investment piece to ensure that your marriage continues to be long-lasting or that your daughter feels suitably treasured.

Above: Silver Winged Art Pendant & Chain in Medium, £275 Theo Fennell, 4 The Courtyard, Royal Exchange Below: Superstud Chainmail Bracelet in Sterling Silver, £1,095 Stephen Webster, www.stephenwebster.com

Perfect Pearls (30th Anniversary) “The pearls were accidents and the finding of one was luck, a little pat on the back by God or the gods both” - (John Steinbeck, The Pearl).

Throughout history and literature, the pearl has become synonymous with the adjectives rare, fine, admirable and valuable. If you have been fortunate enough to find everlasting love, there is no better way to commemorate this unique union than by presenting your wife with an inimitable piece of natural beauty to mark 30 years together.

Above: Opulence Necklace, £510,000, Mikimoto www.mikimoto.co.uk Right: Baroque Ring in White Gold with Cultured Pearl and Diamonds, £39,925, Chanel, www.chanel.com

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Rare Rubies (40th Anniversary)

A vivid symbol of love and passion, the ruby’s rarity marks it as an exquisite and precious stone. Dame Elizabeth Taylor, whose love affair with jewellery was as true as her ardent romance with Richard Burton, always honoured the gem. Van Cleef & Arpels, which famously designed the spectacular 8.24-carat ruby ring which was given by Burton to Taylor as a token of love, once again pays tribute the stone in its Le Bal Oriental collection. Ruby is also the traditional birthstone of anyone born in the month of July, making rubies a thoughtful birthday present.

Fleurs Mystérieuses Necklace and Earrings with Rubies and Diamonds, POA, “Le Bal Oriental” collection at Van Cleef & Arpels, www.vancleef-arpels.com

Gorgeous Gold (50th Anniversary) Celebrate the start of your golden years with your loved one with one of Fabergé’s stunning golden egg pendants; customise for an added special touch with your wife’s favourite gems. Here the sumptuous rose gold quilted cushions are studded with rubies and amethysts, orange, yellow, pink and blue sapphires, tsavorite garnets, emeralds and brown and white diamonds, resulting in bejewelled grandeur fit for royalty. Alternatively, choose your daughter’s favourite gems and make her the envy of her friends.

Above: Parentesi Ring in 18-carat Yellow Gold with Demi Pavé Diamonds £4,058, Bulgari, 15 The Courtyard Royal Exchange Below: Oeuf Matelassé Coloré or Rose, Les Favorites de Fabergé £8,367, Fabergé, www.faberge.com

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th Diamonds Are Forever (60th Anniversary) With Her Majesty the Queen’s Diamond Jubilee taking place this year, the event promises to be an elaborate and regal affair to honour the monarch’s abiding reign. The diamond, defined in Ancient Greek times as “unalterable”, “unbreakable”, and “untamed”, is the perfect emblem to celebrate not only this prodigious event but also you and your partner’s momentous 60th wedding anniversary. Equally, use the occasion, and the stone, to propose. As the saying goes, diamonds will always remain a girl’s best friend. n Above: Diamond Garland Necklace, POA, Harry Winston, www.harrywinston.com

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Below: Wildflowers Three-flower Cluster Earrings, £12,780, De Beers, www.debeers.com

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Together we give 100%… and this year we raised £12.75 million for charity In just one day in December last year, leading interdealer broker ICAP raised £12.75 million worldwide on its 19th annual global Charity Day In London, ICAP was honoured by the presence of Her Royal Highness, The Duchess of Cornwall, in support of Maggie’s Cancer Centres, and she evidently enjoyed doing some trades during her visit.

Lewis Hamilton, Joanna Lumley, Rod Stewart, Penny Lancaster Stewart, Jamie Oliver, Rupert Everett, Harry Enfield, Paul Whitehouse, Carol Vorderman and Duffy were also among those who visited the ICAP offices in London and manned the phones, while across the pond, Oprah Winfrey, Jessica Alba, Derek Jeter, Matthew McConaughey and Meryl Streep caused great excitement by turning up to Charity Day in ICAP’s New York office.

Michael Spencer, Group CEO of ICAP said: “I really want to thank all our staff, customers, suppliers and distinguished guests for the amazing effort they put into making the 19th annual Charity Day such a rewarding event for the 200 charities we supported. It will make an incredible difference to so many people around the world who are less fortunate than we are.”

Started in 1993, the total raised by ICAP’s Charity Day now stands at £89 million and ICAP has supported more than 1,000 charities worldwide since Charity Day began 19 years ago. Information about last year’s charities, and stories of what previously supported charities have since achieved, can be found at www.icapcharityday.com. The website can be accessed on smartphones and ICAP Charity Day is also on Facebook and Twitter.

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million raised for charity in one day

SHOPPING

New year, new you Come down to Canary Wharf to be sure to start 2012 fresh, fit and healthy

Reebok Sports Club Get fighting fit at Reebok Sports Club this year. As well as a huge selection of machines on which to test yourself, a 13m climbing wall and a stunning pool, Reebok’s new Combat Zone offers a range of classes in everything from MMA to kickboxing, perfect for the modern urban warrior.

Reebok Sports Club Canada Place 020 7970 0912

The Spa at Four Seasons Look fresh faced for the new year with the Spa’s Head and Face treatment for men. This deep-cleansing treatment is designed to eliminate toxins that accumulate in the face.

Relaxing head and neck massages oxygenate the skin and boost circulation, encouraging healthier hair and a refreshed-looking face. £80 (60 minutes)

Four Seasons London at Canary Wharf Westferry Circus 020 7510 1999

Freedom Back Clinics Put back pain behind you with the very best osteopathy, physiotherapy, chiropractic and sports massage treatments available at Freedom Back Clinics.

Freedom Back Clinics Canada Place 020 3197 9100

SHOPPING Gore Men’s Gore Tex Active Shell Jacket, £189.99, Runners Need, Churchill Place

Pure Sports Medicine Strains, sprains and syndromes that niggle and complicate your daily and your sporting life can be healed at Pure Sports Medicine, making sure you return to your peak performance in 2012.

Pure Sports Medicine Cabot Place 0844 770 0800 Icebreaker Men’s Bodyfit 200 Top, £52.95, Waitrose Food, Fashion & Home, Canada Place

9 Day Detox Pack, £39.95, Holland & Barrett , One Canada Square

Adidas miCoach Pacer, £120, Waitrose Food, Fashion & Home, Canada Place

The Grid Foam Grid Roller, £44.99, Runners Need, Churchill Place

Bobble Water Bottle, Red, £10, Waitrose Food, Fashion & Home, Canada Place Wooden Hand Weights, £60- £75, Waitrose Food, Fashion & Home, Canada Place

Pinnacle Evaporite Three 2012 Road Bike, £1,999.99, Evans Cycles, South Colonnade

Brooks PureCadence Trainers, £99.99, Runners Need, Churchill Place

Garmin Forerunner 610, £359.99, Runners Need, Churchill Place

SHOPPING

Fresh, fit & fabulous For all things fitness head to Canary Wharf, where the range of gyms, stores and spas will ensure you are on top form for the New Year

Virgin Active at Canary Wharf Riverside Push yourself a bit further in 2012 with the help of intense spinning classes at Virgin Active. Along with these toning, cardio classes Virgin offers a vast array of activities and exercise, all set in a stylish and dynamic environment, including a gorgeous pool overlooking the river Thames and the bright city skyline.

Virgin Active at Canary Wharf Riverside Westferry Circus 020 7513 2999

The Spa at Reebok Sports Club Cleanse and refresh after festive indulgences with the selection of energising, detoxing and firming Aromatic Wrap treatments from The Spa at Reebok Sports Club, the ultimate treat for your body for a total transformation. ÂŁ73.50 (55 minutes)

The Spa at Reebok Sports Club Canada Place 020 7970 0912

The Rejuvenation Clinic & MediSpa Look years younger, rather than a year older, with the combination of the traditional and modern scientific treatments at The Rejuvenation Clinic & MediSpa.

The Rejuvenation Clinic & MediSpa Cabot Place 020 7519 6950

SHOPPING Pure Sports Medicine Icebreaker Women’s Bodyfit 200 Top, £52.95, Waitrose Food, Fashion & Home, Canada Place

Make sports injuries a thing of the past with the array of services and treatments from the experts at Pure Sports Medicine.

Pure Sports Medicine Cabot Place 0844 770 0800

Adidas CT Core Tights, £30, JD Sports, Canada Place

Soleus GPS Watch, £99, Runners Need, Churchill Place

Cybele Lattice Bikram Top, £45 and Bikram Short, £37, both Sweaty Betty, Cabot Place

Sweaty Betty Dynamo Swimsuit, £55, Sweaty Betty, Cabot Place

Get fit for free with the help of Sweaty Betty Canary Wharf. Join pilates sessions and running groups organised by the store to help New Year’s resolutions stick.

Wooden Skipping Rope, £20, Waitrose Food, Fashion & Home, Canada Place

Sweaty Betty Cabot Place 020 7513 0666

Flaunt It Cami, £55, Sweaty Betty, Cabot Place

Freedom Back Clinics Walk tall in 2012 and put an end to back complaints with the help of the experts at Freedom Back Clinics.

Freedom Back Clinics Canada Place 020 3197 9100

iPod Nano, from £10, Curry’s Digital, Cabot Place Nike Air Max Women’s Trainers, £55, Waitrose Food, Fashion & Home, Canada Place

arts&events

Sculpt, Skate,

Dance & Laugh...

....in Canary Wharf. Shake off winter blues with a skate around the rink, an enthusiastic attempt at ice sculpting or by dancing at the Tea Dance or Silent Disco

LONDON ICE SCULPTING FESTIVAL The annual London Ice Sculpting Festival returns to Canary Wharf. Enjoy two professional ice sculpting competitions, take part in a free ice carving masterclass, make a snowman in the snow pit and browse the stalls at the Frost Fayre for warming winter drinks and snacks.

The main competition sees eight international teams battle it out on two metre high blocks of ice interpreting the theme of Winter Sports and following the main competition one member of each team will take on a speed sculpting challenge on the theme of Team Spirit. Watch as the creations take life throughout the festival before finding out who is declared the winner on Saturday at 4pm.

Frost Fayre Montgomery Square Friday 13 January 9am-7pm Saturday 14 January 8am-6pm Snow Pit Montgomery Square Friday 13 January 10am-6pm Saturday 14 January 10am-6pm Masterclasses Canada Square Park Friday 13 January 10am-6pm Saturday 14 January 10am-6pm Jubilee Place Mall Friday 13 January 12-4pm Saturday 14 January 10am- 6pm

First come, first served at Masterclasses and Snow Pit. Masterclasses: Age 12+ Sessions on the hour, 20 minutes and 40 minutes past Friday 13 and Saturday 14 January Throughout Canary Wharf, E14 Friday 9am- 7pm, Saturday 8am- 6pm FREE canarywharf.com / londonicesculptingfestival.co.uk

CANARY WHARF ICE RINK The Canary Wharf Ice Rink is as enchanting and full of winter fun as ever. Nestled in Canada Square Park, skaters can glide under the gleaming towers and twinkling trees full of fairy lights in one of London’s most iconic settings.

It’s perfect for an office outing, fun family day or a romantic date for two. With more than 200 shops, bars and restaurants to choose from throughout Canary Wharf a visit to the ice rink could easily turn into a whole day out. See you on the ice!

Until 19 February Canada Square Park, Canary Wharf, E14 Visit canarywharficerink.com for details of ticket prices and booking, session times, skating lessons and more.

CANARY WHARF COMEDY CLUB Featuring* Holly Walsh, Nathan Caton, Gary Delaney, Tom Wrigglesworth plus one act TBC After a sell-out autumn season, featuring a range of comedic talent, Canary Wharf Comedy Club returns in February with five heavyweights of the comedy circuit to shake off the winter blues. Among them are Edinburgh Comedy Best Newcomer and TV regular Holly Walsh, rising star Nathan Caton with his hilarious social and political anecdotes and charismatic wordsmith Tom Wrigglesworth plus master of the killer one-liner, Gary Delaney.

VINTAGE NIGHTS Tuesday 14 – Friday 17 February East Wintergarden, 43 Bank Street, Canary Wharf, E14

Welcome to a celebration of all things retro.

Relive the 20s to the 90s in a glamorous week of dance, music and vintage TV.

Tuesday 14 February VALENTINE’S TEA DANCE

Workshop from 6pm. Tea Dance 7.30-10.30pm Tickets: £12, or £20 for both Tea Dance (includes complimentary glass of bubbly on arrival) Waltz, cha-cha and foxtrot with the 11-piece Berkeley Square Society Band. Start with a taster workshop to learn the basics then take to the floor.

Enjoy classic dances from Ragroof Theatre’s ladies and gents.

Wednesday 15 February Sing-a-Long-a Grease

7-10pm (Doors 6.30pm) Tickets: £15 (includes complimentary glass of bubbly on arrival) This brand new sing-a-long version of the classic film is not to be missed. Fancy dress is strongly encouraged and audience participation is essential!

Thursday 16 February SWING DANCE

Workshop from 6pm Swing Dance 7.30-10.30pm Tickets: £12, or £20 for both Tea Dance and

Tom Wrigglesworth

Monday 13 February 7.15pm (doors 6.30pm) East Wintergarden, 43 Bank Street, Canary Wharf, E14 Tickets £12 Booking Information: In advance: Visit ticketweb.co.uk or call 0844 847 2268 (Booking fee applies) In person: On the door, subject to availability *Line up correct at time of publication

Winter Lights Marbles - Daan Roosegaarde Jubilee Park, Canary Wharf 9 January – 2 March ‘Marbles’, a new interactive artwork

Unreserved seating, full bar and food. Only items purchased on the premises may be consumed.

Swing Dance (includes complimentary glass of bubbly on arrival) Come early for an introduction to vintage dance styles from the JiveSwing.com folks then get ready to lindyhop, jive and jitterbug the night away.

Friday 17 February SILENT DISCO

8pm-Midnight Tickets: £10 (includes complimentary glass of bubbly on arrival)

by Daan Roosegaarde, has its first public presentation in the UK at Canary Wharf as this year’s ‘Winter Lights’ installation, enlivening Jubilee Park during the dark winter months. Each ‘marble’ contains sensors that instinctively respond to human proximity or touch, triggering changes of colour and sound. Eight large coloured shapes will interact with people walking through the landscape and are also able to multiply these interactions between themselves, appearing to communicate with each other. As dusk falls, the park will appear to be animated by more than just those who are passing through….

studioroosegaarde.com

No speakers; just wireless headsets where you choose what you dance to. Two DJs compete – who will you choose? Vintage vinylist Yvan Serrano Fontova aka Healer Selecta or disco, electro and dance from cult DJ Princess Julia?

A Century of Olympic Posters

VINTAGE MOBILE CINEMA

Exhibition organised by the Victoria & Albert Museum

4pm-Midnight FREE* (Space is limited, and available on a first come, first served basis)

Lobby, One Canada Square 16 January – 2 March

Enjoy classic episodes of Top of the Pops from the 60s, 70s, 80s and 90s in the plush surrounds of the 1960s Vintage Mobile Cinema parked in front of the East Wintergarden. The only surviving unit from a fleet of seven built by the Government in 1967 to promote British industry, it now makes a perfect bijou cinema.

Vintage Nights Booking Information In advance: Visit ticketweb.co.uk or call 0844 847 2268 (Booking fee applies) In person: On the door, subject to availability

We begin our celebrations of the 2012 London Olympics with this major exhibition. A London exclusive in Olympic year, it features many rare, beautiful examples of posters created for the modern Olympic Games from the early 20th century until now.

vam.ac.uk Official Poster for London Olympic Games, 1948 Walter Herz

Full bar, snacks and cloakroom. Only items purchased on the premises may be consumed

© Courtesy IOC/Victoria and Albert Museum

For more information visit canarywharf.com

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interview j.p. morgan’ human resources bonus law finance INVESTing in shares ..............................................................

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Courtesy of the U.S. federal government

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the Greatest Investor

Warren Buffett’s assets fell by $25 billion between 2008 and 2009, a loss that saw him drop down to second place on Forbes’ Rich List. Take inspiration from the world’s most successful investor

H

e lives in the same five-bedroom house that he bought in 1957, pays himself a base salary of around $100,000 a year and devotes 12 hours a week to playing bridge. Not quite the lifestyle you’d expect. Then again, Warren Buffett isn’t your average Wall Street investor.

Buffett was just 14 when he filed his first tax return and two years later, he stood at the helm of a mini-empire of pinball machines that he had placed in neighbourhood barber shops. By the time he left college, having invested in the New York

Stock Exchange as well as in a local farm, he had amassed savings worth $90,000 in today’s money.

Blessed with an ability to identify undervalued companies, with shares so inexpensive they posed little risk as an investment, Buffett set forth on a career that would see him become a millionaire by 1962 and a billionaire before the age of 60.

Berkshire Hathaway, the congolomerate for which Buffett acts as President, Chairman and CEO, was in 2000 the eighth largest public company on the planet. Eight years later, Buffett himself, whose career began selling Coca-Cola door to door, became the world’s wealthiest individual. n

45

interview

comment

Under One Roof The next eight months will see J. P. Morgan relocate 8,000 of its employees into one prestigious London business address. Richard Brown met the company’s Chief Finance Officer for Europe, Middle East and Africa, Frank Pearn, ahead of the symbolic move

W

hen Lehman Brothers declared bankruptcy in September 2008, it was 25 Bank Street that provided the backdrop to one of the defining moments of the 07–09 recession, as television cameras and news reporters flocked to Canary Wharf to document the collapse of one of the world’s largest superbanks.

Just over three years later, in a move that underscores the area’s significance as a global financial hub, the address reopens as J. P. Morgan’s European headquarters. For Frank Pearn, a man who was at Lehman Brothers during the start of the financial crisis, 25 Bank Street represents not just the leaps the finance industry has made during the last four years but also the encouraging direction in which the sector is moving.

You were at J.P. Morgan earlier in your career and have now returned. What bought you back?

I spent almost 12 years from 1990 to 2001 at J.P. Morgan which means I did most of my professional growing up here. I have always had a soft spot for the company and the things it did as it came together through various mergers.

When the opportunity to return to such a compelling business presented itself two and a half years ago, it was too good to pass up.

You were at Lehman Brothers during the financial crisis.

What did you take away from that experience?

When the credit crisis kicked in, it quickly became clear that the existing business model had to change. There was plenty of lead-up to the September of 2008, so it’s difficult to say it was an unexpected event, but the finality of it all was shocking nonetheless. Once you’ve lived through something like that, everything else looks a little less daunting.

Are we still in the grip of a recession?

From a macro economic perspective, it’s still uncertain.

The eurozone crisis that everyone is trying to work through poses a lot of challenges. The US economy appears to be continuing to perform, which we hope will continue to have a positive effect on markets around the rest of the world.

How much does the continuing euro crisis worry you and how damaging could the implications be to J. P. Morgan?

We are a global financial institution with a footprint in more than 60 countries. Our business is tied very closely to the global economy, which is why we manage risk and monitor our exposures very carefully. At the moment, we are in a very good place from a balance sheet perspective.

How do markets in the current economy compare with how things were pre 2007?

If you put aside the sovereign crisis that’s now being dealt with, I think overall we are in a much better position as an industry. Many of the things we saw go sideways before 2008 in terms of leverage and the real estate bubble have taught firms a hard lesson. You look at our management disciplines at J. P. Morgan and we’ve tightened up processes

47

comment interview

and increased transparency around more risks. We are in a better place than we were in 2007.

How important is London as a financial hub for J. P. Morgan?

London is a vibrant financial sector for the global economy. We continue to see growth in emerging economies like China, India and Russia, but London will continue to be a major financial hub for many years to come. Our move to Canary Wharf, announced a year ago, demonstrates our commitment to the city. While we continue to build our capabilities in places like the Middle East, Eastern Europe and sub-Saharan Africa, we are absolutely committed to London. The legacy of our firm dates back to the U.K. We have been here for more than 100 years and currently have more than 10,000 employees in the capital.

Why has the company chosen to relocate to Canary Wharf?

Presently, we have a number of locations spread out across London; 25 Bank Street provided a tremendous opportunity to bring everybody together under one roof. It is a beautiful building that was specifically built for a global financial institution, so it has a fantastic technology structure. The idea of having our Investment Bank, Global Corporate Bank and Treasury & Securities Services businesses in the same building will make it more collegial and certainly make us more efficient. We are extremely proud to boast 25 Bank Street as our European headquarters.

Did you consider any other locations?

Since I’ve been back, it was really about Canary Wharf.

Our real estate team did a great job of scouring the city for opportunities, but the lack of buildings large enough to accommodate us all meant that Canary Wharf became the most logical option. Starting in January, the plan is to get most people into 25 Bank Street before the Olympics.

The remaining few or so will move in straight after.

How might the banking industry change in the next few years?

There’s so much regulation and reform going on right

48

now in the US, the UK and in Europe. A lot of firms are having to go through self-assessments, to evaluate what remains core to their business models going forward. You’ll see firms change their strategy in response to changes in the rules. At Morgan, we are spending vast amounts of time and energy in working with our regulators on proposed changes, helping them to understand the implications of the proposals. We constantly assess and evaluate the implications to our markets and are confident that whatever is implemented, we will be able to serve our clients for the long-term.

What has been your biggest challenge as CFO of J. P. Morgan?

Getting my head around all of the post-crisis regulatory issues. The governance around our local entities has grown tremendously over the last couple of years and caused us a great amount of work. In London, the FSA has done a very good job in working with us to identify key risks and issues for our UK-based entities to ensure that we were adequately capitalised, and have sufficient sources of liquidity to function in separate areas of a global market.

What do you most enjoy about your role?

The breadth of responsibility. Working with colleagues across the Investment Bank, Treasury and Securities Services and Asset Management, I get to see all of the different parts of our business come together. In terms of our move to Canary Wharf, I don’t think many financial offices are regularly given the opportunity to move thousands of staff to a building of that size very often. I get to work on things like what kind of trading workstations we will put in, all the way down to how we’re going to assign parking spaces.

London hosts the Olympic Games this year. If you could compete in, and win, one Olympic event, what would it be?

The decathlon. I like variety; anybody who can be a world-class athlete in ten different activities is pretty impressive to me. n

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comment human resources

Bonus or Bust Clare Murray spells out the pitfalls to avoid during the traditional bonus season bonus that is about to fall due, provided this is done in accordance with the contract. In these circumstances the contractual bonus wording should always be double-checked. Recent press reports also suggest that banks may be seeking to rely on bonus clawback provisions: this is likely to be an area to watch for the future.

Most bonuses will have been declared by the end of December, but by all accounts, this year’s bonus season will not be a time for cheer; survey results reported in the press predict that London bank bonus pools for 2011 are shrinking amid the EU crisis and general economic malaise. Current headlines also warn of imminent large-scale redundancies in the financial services sector and, as with all bonus arrangements, a question frequently arises, concerning what happens with regard to redundancy, dismissal or resignation. Is the bonus forfeited or is a pro-rated bonus payable?

Case law has established the principle that an employer can, in certain circumstances, terminate an employee’s employment immediately before a bonus is to be awarded and avoid paying an annual bonus otherwise due. While there is an obligation on an employer not to exercise their discretion in relation to a bonus payment in an irrational or perverse way, there is nothing to stop an employer from dismissing and not paying the employee a

Following changes introduced by the credit crisis, there are now rules stipulating that a proportion of bonuses must be awarded in shares and that these must be deferred, whilst guaranteed bonuses can only be awarded for a period of one year. In the context of bonuses, a distinction must be made between discretionary and guaranteed payments: the former tend to be a reward for performance as well as an incentive for future performance, while the latter can include signing on bonuses or retention bonuses, and are now more regulated within the financial services sector. For most bankers, their annual bonus will be discretionary and in most cases, there is little room to challenge the level of the bonus awarded, unless an employee can assert that no reasonable employer would have exercised the discretion in that way, i.e. the decision is irrational and perverse. In the current economic climate, a challenge on those grounds will be very difficult indeed, if not impossible.

A bonus award can, however, be challenged if there are discrimination issues at play; for example, a female banker receiving a lower bonus award than her male colleagues in cases where their performance is comparable. A bonus award could also be subject to challenge in circumstances where it is alleged to have been reduced in response to the employee blowing the whistle on wrongdoing inside the bank.

However, in general terms, it has become fairly difficult for senior executives in the financial services industry to challenge a lower-than-expected bonus.

This year will be no exception and bankers will be left with very little room to manoeuvre in the event the bonus pools are quite as low current predictions suggest or there are redundancies before the payment date. As healthy bank bonuses are often viewed as a barometer of how well the economy is doing, this is not good news for anybody. n

Clare Murray is Managing Partner at specialist employment and partnership law firm CM Murray LLP. She can be contacted at clare.murray@cm-murray.com or 020 7718 0090. The contents of this column are for general purposes only. Specialist legal advice should be taken regarding specific circumstances.

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personal finance

Uncertain Times David Kuo explains why investing in shares should be part of long term financial plans, even in times of economic uncertainty

We live in uncertain times, but we always have done. Times were uncertain when, as a young boy, I watched as China go through its Cultural Revolution. Times were equally uncertain during the Vietnam War, the Falklands War, The Bay of Pigs Invasion, the invasion of Kuwait and episodes of the Millennium Bug, SARS, swine and bird flu.

Now we have another disaster on the horizon, in the shape of the eurozone. My response to that?

Ignore it. We should recognise how incompetent politicians can be but we’ve always known that. What we must bear in mind is that they are governed by self-interest and, at the risk of sounding controversial, so should we be. We need to remain focused on our financial objectives and ensure we have enough money put away for whatever we’re saving for; perhaps our children’s university education or money for retirement.

It would be easy to get caught up in arguments over the rights and wrongs of Quantitative Easing, bond ratings agencies, Credit Default Swaps and the merits or drawbacks of a technocratic leader.

However, the harsh reality is that none of this will help us towards our financial objectives. We need to continue to invest because investing in shares is one of the best ways to generate inflation-beating returns in the long term. The last decade has been awful for stock market investors but that is only true for those who bought shares at the top of the market in 1999 and never returned to it.

Most of us don’t invest like that. We keep adding money to the market as and when we are able to do so. So while the money you invested in the FTSE 100 in 1999 is in the red, any money you invested

comment

in 2003 will be in the black – up some 60 per cent.

If you invested in the summer of 2010, when the FTSE was at 4,800 points, your investment would be up around ten per cent. As such, each year, your investments will deliver a different return, sometimes positive and sometimes negative. Over the decades, though, you should do well overall, provided you keep adding money into the market.

Some will tell you it’s a mistake to buy shares and hold them for the long term through thick and thin, pointing out that we could be holding on to investments that are severely overpriced and that it would be better to reinvest the money elsewhere. But most of us are not expert stock market analysts: even if you believe a share is overvalued, there is no guarantee that the market will agree with you. In fact, some of the best investors in the world have made money by buying shares that they have held for a very long time. Warren Buffett, for example, has seen his investment in Coca-Cola increase seven-fold since the late 1980s.

There is a lesson there for all of us. As investors, we should be focused on the long term, rather than think of investing as taking a punt on a share. This means buying shares in businesses that you understand and believe in: if you think a share may have raced ahead of itself, then sell some of it and move the money into another investment that may have a more compelling story to tell; but if you have faith in the business, then the best thing to do is to hang onto it. That’s because a share is not just for Christmas – you are a part owner in the business and it should be for the long term. n

Dr David Kuo is director at popular financial website The Motley Fool www.Fool.co.uk

51

comment human resources

Your Most Valuable Asset Confidence, success and a healthy lifestyle: Chelsey Baker discusses the long term benefits of self-improvement

When the first month of a new year arrives, it invariably brings with it feelings of reflection, a desire for new opportunities and a wish to set, and uphold, new resolutions. Of course, an optimistic outlook alone is no guarantee for success. While creating ‘to do’ lists can be a valuable step towards streamlining your life, many goals are often relegated or forgotten by the end of the month. Faced with this reality, making a conscious and committed investment in yourself becomes an effective way of underwriting your life against future disappointment.

Firstly, seek out and identify key areas of your life that you feel need the greatest change or improvement. Spend time analyzing things that are, in the long term, most likely to lead you towards success; for example, advancing your education and knowledge or learning a new skill can add immeasurable value to your earning potential.

Investing in your health should always be a priority so substituting fast food with good quality foods, giving up smoking and reducing your alcohol intake will all make a profound difference to the way you look, feel and perform. Investing in a personalized training regime will provide health benefits, such as increased energy, improved mind function and fewer illnesses later on in life.

To update your appearance and improve your confidence, hire an image consultant. A course in assertiveness or public speaking is another successful method to enhance your self-esteem and change your public-facing persona.

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There are many personal development programs available that can help increase your effectiveness and emotional well-being. Psychotherapy, hypnotherapy and counseling can assist in sorting out any issues past or present that are potentially holding you back. If you are considering changing your career path, you may need some guidance; a career coach could provide the resources and advice to set you on the right track.

The hardest thing of all is to identify precisely what area of yourself you want to invest in.

Most of us are often too proud to admit we need advice from an expert. However, through my experiences as a business mentor, I have witnessed first hand the great results and excellent return on investment that mentoring delivers. By providing a structure and framework to guide you through life’s challenges, this kind of help is one of the most cost effective and sensible investments you can ever make.

Unlike a more conventional fixed asset that you purchase, no one can ever take away your mental resources. Whatever form of expert advice you pursue, whether it’s a weekly, monthly or telephone session, investing in a business mentor provides guidance, action and accountability to enhance your success on every level. By improving yourself you are building your own personal portfolio and skill set, something that will expand your horizons and ultimately improve the choices you are able to make in life. n

personal finance

comment

How Best to Invest Martin Bamford addresses the trials and tribulations of investment in 2011 and suggests how we can avoid some of the mistakes made last year It’s been an incredibly difficult year both for investments and investors. Global investment markets have had plenty to be nervous about and the lingering eurozone debt crisis, combined with an economic slowdown, has been enough to give investors a regular case of the jitters. Closer to home, it has been a challenging year for many households; low interest rates and high price inflation have placed a squeeze on incomes for those who rely on their savings, and unemployment, or the fear of unemployment, has been a significant concern for many, especially those in the public sector.

The economic outlook for the next 12 months continues to look rather bleak. What we are experiencing now is the hangover from the global financial crisis and the impact of this has been far more significant than was predicted at the time. Against this changeable economic backdrop, investors have important decisions to make this year. Pension funds and investment portfolios need to be invested appropriately in order to meet longer term financial goals, without causing sleepless nights due to market volatility.

When we start working with new investors, we often see them making the same investment mistakes; in understanding these, we can better help investors to avoid them in the future. A mistake we often see is investors trying to time their entry to and exit from investment markets. When markets are so volatile, the temptation to try this is obvious: there are times when the market feels like good value and times when it looks like investors should sell in order to realise their profits. However, the trouble with this is that it is so easy to get it wrong. Nobody has a crystal ball, so accurately and consistently timing market movements is impossible.

Getting out of the markets often means missing the days of good returns that tend to happen shortly after markets fall in value. By trying to time the stock markets, you stand a better

than equal chance of selling when prices are low and buying when prices are high.

Another mistake we see is investors taking unnecessary risks with their money. In order to chase the possibility of high returns, you need to expose your capital to risk. This is sometimes the right thing to do but all too often it is unnecessary. By linking your investment decisions to your financial planning goals, it is often possible to reduce the level of risk you are taking with your money and often we find that even though investors are prepared to take risk, they simply don’t need to do so to meet their objectives.

A crucial mistake that became especially prevalent last year was overexposure to commodities. With the price of gold appearing to rise continually throughout the year, and other investments so volatile, the attraction of precious metals is rather obvious but, while gold has enjoyed a strong bull run, it remains an incredibly risky investment asset class. Many investors already have exposure to commodities due to the inclusion of mining stocks in the FTSE 100 index. There is a big risk of overexposure and buying into an investment bubble when trying to invest directly in gold assets.

Perhaps the biggest error investors make is to invest in things they don’t understand, although this is unsurprising, given the complexity of many investments. A golden rule to remember is only to invest in assets you fully comprehend. The highest profile investment failures of recent years have mainly involved complex, opaque and illiquid investment products understood by few, often including those who were selling them.

While this year is likely to be tough for the economy and investment markets, understanding and avoiding some of these common investment mistakes will provide investors with a fighting chance of success. n

Martin Bamford is a chartered financial planner at Informed Choice (www.icl-ifa.co.uk) and author of several best-selling personal finance books.

53

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motoring investment sport all about the money luxury gadgets porsche design ..............................................................

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Californication

At one point, the waiting list for a Ferrari California was three years; not surprising for a car that combines the style of a Spider with the speed of a F430

S

o obsessed with aerodynamics was the team behind the new Ferrari California that the car was put through more than 1,000 hours of wind-tunnel testing before the final design was approved. Testament to this attention to detail, the California is now the most aerodynamic Ferrari ever produced, although the car’s bragging rights don’t stop there.

It may be 180kg heavier and 30hp less powerful than the iconic F430 but the California matches its stable mate in every other aspect that matters.

The car will accelerate to 62mph in less than

four seconds and, given the room, can reach a top speed of 193mph. Coupled to a sevenspeed dual clutch transmission, the California’s 4,300cc V8 engine features direct fuel injection that both enhances performance and reduces fuel consumption. Innovative touches come in the form of a folding hard top, flat crankshaft and exclusive F1-Trac traction control.

While the modern-day California may hark back to the looks of the original 1957 model, as the first Ferrari to feature multi-link rear suspension and a front V8 engine, the current car is very much a motor for a 21st century driver. n

55

HIGH OCTANE INVESTING

Forget stamps, forgo stocks and shares… an old car is the upand-coming place to put your money, says Matthew Carter

1957 Ferrari 410 Superamerica Coupé

BMW M3 E30 1987

Darin Schnabel ©2011 courtesy RM Auctions

© BMW AG

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hirty years ago the then-new Classic and Sports Car magazine ran a reader competition as part of an early promotional push. The prize was a classic car, a 1970 Aston Martin DB6 Mk 2 Volante, one of just 37 built. The magazine reckoned the car was worth £25,000, a substantial sum back in the day. So substantial that the lucky winner sold it shortly after he took delivery and pocketed the cash. What a shame he didn’t wait a while. Astons have skyrocketed in value and if he still owned the DB6 today, he could expect to get £350,000 for it, and he would have had 30 years of enjoying a pretty special car.

Granted, there would have been running costs; he would have had to pay to insure it, to have it serviced and perhaps repaired during that time. But whichever way you look at it, that’s a pretty strong investment. The trick, of course, would have been knowing back in 1982 what Aston Martins might be worth three decades hence.

This is not a problem that’s gone away. “Which classic cars are going to jump in value over the next few years? If I knew that, I certainly wouldn’t tell you.” The speaker is Max Girardo, the head of RM Auctions in Europe, one of the leaders in the classic car auction field. RM’s most recent headline sale, in Battersea Park at the end of 2011, saw an extremely rare 1958 Ferrari 250 GT LWB Tour de France sell for £2.24 million. The star lot at RM’s next showcase event, coinciding with the Monaco Grand Prix, is a road-registered

racer, the 1968 Alfa Tipo 33. It won’t reach the dizzy heights of the Ferrari price but, thanks in part to its hugely original condition, it should easily top £500,000 and the new owner will undoubtedly get to show the car at Goodwood, one of those events where you can’t buy a place on the grid.

It’s not all top end stuff, though, as that Battersea sale also saw a comparatively humble Triumph TR4 go for a hefty £33,600. It all proves that the collector’s car market is booming, despite the economic gloom threatening to engulf us all. “It’s all about passion,” says Max. “Our customers love and enjoy cars. They’ll happily spend £200,000 on a Ferrari Daytona and then make sure they use the car.”

That’s the key to the collector’s car market: cars are far more exciting than stocks and shares – and less volatile – and, frankly, are more fun than stamps, jewellery or paintings. What better way to enjoy your money? Sadly, the chances of making a fortune from rare Ferraris, Bugattis and the like have probably passed as, when they come to market, they already have serious price tags. The trick is to uncover what’s going to be hot tomorrow when today’s prices are still cool.

Despite his earlier threat, Max does have some suggestions for future classics. “I think the time is near when interesting cars from the 1980s will start to go up in value. The original BMW M3, for example, was the first of the breed and is generally acknowledged as a real driver’s

motoring

calibre

1958 Ferrari 250 GT LWB Tour de France Berlinetta Tom Wood ©2011 courtesy RM Auctions

car. Avoid the ‘ordinary’ versions, especially those bought by the impecunious when values went right down and were then used as track day specials.

“Look instead for a limited edition Evo model or models like the M3 Ravaglia, built to celebrate the success of Roberto Ravaglia, a leading BMW works racing driver.

Rarity always helps.”

Also in the 80s, the world rally championship was run for Group B supercars, hugely powerful racing cars, built to be hurled down narrow slippery rally stages rather than race tracks. They were outlawed after too many accidents claimed too many lives, but not before road-going versions had been built to comply with international competition regulations. Find yourself a pristine, low mileage Ford RS200 at the right price and you could be sitting on a serious investment. Driving it will be a noisy, raw, visceral experience, you won’t be able to use it to go on holiday (no luggage space) and getting parts won’t be easy, but you are guaranteed to have fun and to turn heads at the same time.

As a rally car, the shortened Audi Quattro S1 was a formidable weapon, winning championships as it snarled its way around the world’s rally stages. As a road car, it was compromised by nervous handling and an engine built for competition, but as an investment, it’s looking strong. The same goes for the ugly duckling MG Metro 6R4.

“Always buy the best example you can afford, especially

when it comes to the body as repairs will be costly and you’re unlikely to recoup the outlay. Go for a ‘matching numbers’ car, one where the chassis and engine numbers match the original paperwork, as a car with the ‘wrong’ engine will never be worth as much,” advises Max, who also points to a growing trend for what’s known as the ‘preservation class’ – cars in good original condition, rather than heavily restored examples. And, he says, if you do buy a car, use it, especially if you see it as an investment.

“Use it for two reasons. The first is to have fun – there’s nothing quite like driving a classic convertible on a sunny Sunday morning. But the second reason is just as important.

Drive it to events like Goodwood and to club outings where the car becomes an advert for itself. Quite often a fellow enthusiast will see your car and, wrapped up in the spirit of the day, will make a generous offer for it there and then.”

Where to look? Probably the best places to start are to two leading UK classic car magazines – Classic and Sports Car and Octane. Both carry page after page of classifieds from private individuals and specialist traders, as well as display ads from the leading classic auction houses like Bonhams, Gooding & Company and RM. But you’ll need to move fast. Another growing trend is the rise in interest in historically fascinating old cars from emerging markets such as Russia, Eastern Europe and especially China. Ladies and gentlemen, start your engines. n

57

THE NAME

GAME

They call it a Chrysler but the little Ypsilon city car is Italian to its core, and that means it ought to be labelled a Lancia, says Matthew Carter

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hryslers are big American cars – station wagons, people carriers and vast sedans from a land where size is of utmost importance. Lancias are small, distinctive-looking hatchbacks and superminis from Italy, a land where style matters most. So the car you see pictured on these pages is a Lancia, right? Er, wrong. It’s a Chrysler… or, rather, it is now.

This naming nonsense has come about since Fiat (owner

of Lancia) took over Chrysler, the recovering American giant.

After a short hiatus, cars like the Chrysler Voyager and 300C will soon be back in Chrysler showrooms up and down the country, where they will be joined by small Lancias like the Ypsilon and Delta. However, you’ll look in vain for the Lancia name. Apparently, the only people in the UK who know what a Lancia is are motoring hacks. Far more recognise the American brand name, hence the decision to brand them

motoring

all Chryslers here, even if every single one (big Yank Tanks included) are called Lancias in mainland Europe. Confused?

As an unimportant motoring hack, I mourn the loss of the Lancia name, remembering greats like the Fulvia, Flavia and more recently the Delta Integrale. But equally, I welcome the return of cars like the Ypsilon, no matter what it’s called.

Now time to stop the moaning and look at the car itself.

And look, open-mouthed, is the first thing you do with the Ypsilon. In a sea of ‘me-too’ city cars, the Ypsilon’s styling might be regarded as ‘challenging’. Personally, I love the fact that it’s different, distinctive and, well, a bit odd.

The Ypsilon is based on the running gear of the Fiat 500 and Ford Ka but the chassis has been stretched so the Chrysler has four doors (with hidden door handles on the rear pair to make it look more like a coupé) and some decent legroom in the rear. It’s also taller than most of its rivals, which helps to provide decent headroom. As a result, the interior feels wonderfully roomy and, with its centrally mounted instruments, it’s as distinctive as the exterior.

There’s no doubt it looks and feels more grown up than the Fiat and the Ford, much less of a toy and more of a sophisticated city car.

That’s certainly how it’s being priced. The most basic version, the 1.2-litre S, starts at £10,695 before options, while the car tested, the TwinAir Limited, is £14,495 (plus an extra £1,200 if you want the auto). That’s not cheap for a city runabout, even if Limited versions do get leather upholstery as standard.

Of the three engines offered – two petrol and one diesel – it’s the smallest petrol that’s the most interesting. The turbocharged TwinAir is a tiny yet radical sub 900cc twin cylinder unit that delivers 85hp for performance that’s nippy enough in the city. More importantly, it produces low emissions and can, if you’re careful, return nearly 75mpg. There’s no road tax and no congestion charge to pay either. To achieve those fuel figures, though, you need to have a feather-light touch on the throttle, keeping revs below around 2,000rpm and avoiding hard acceleration at all times, difficult as the delightfully thrummy twin thrives on revs. Start&Stop, which automatically cuts the engine when the car is stationary, and which is standard across the range, does its bit to keep emissions low and economy high.

Lancias always used to be more sporting than most and that DNA runs through the Ypsilon, though the overall package veers more towards luxury than out-and-out handling prowess. It rides well and the feeling of well-being is underscored by the excellent fit and finish of the interior and, in Limited guise at least, of the classy leather trim.

Even though it’s longer than the baby Fiat, its compact overall dimensions mean it’s easy to park, even if visibility out of the back isn’t the best; one option worth considering is a device called Magic Parking. This uses radar sensors to check if parking slots are big enough and then takes over steering duties to manoeuvre the car into the space.

While you’re looking at options, why not tick the box marked two-tone? Chrysler prefers to call it bi-colour, with the bonnet and roof painted in a contrasting shade to the rest of the body, and this offers a classy look and one pioneered by Rolls-Royce in the past.

That sums up Ypsilon. It’s different and more sophisticated than the opposition. Just a shame about the badge. n

calibre

IN BRIEF Car: Chrysler Ypsilon TwinAir Limited Price: £14,495 Engine: 875 cc twin-cylinder petrol Power: 85 hp Drive: Front-wheel drive Performance: 109 mph maximum 0–62 mph in 11.5 seconds

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luxury Showcase Indulge and immerse yourself in a stunning new exhibition for the New Year, The Luxury Lifestyle and Supercar Showcase proudly sponsored by St James’s Place Wealth Management

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here are few exhibitions which are

as much of a mecca for those with an appreciation for the finer things in life as the Tullett Prebon London Boat Show. Among a glittering annual exhibition of more than 1,000 sailing and motor yachts are some of the most aspirational models currently available.

Therefore it is fitting that this year the glamorous showcase has partnered with eminent brands from the worlds of motoring, travel, jewellery, finance, leisure and interiors to offer visitors a gateway to every aspect of luxury living.

The Luxury Lifestyle and Supercar Showcase, proudly sponsored by St James’s Place Wealth Management, is intended to reflect the wider passions of the discerning audience and has been carefully organised

by Exclusively Events. To this end, visitors can enjoy a fantastic live shopping experience as well as refreshments within the vibrant surroundings of the gallery.

The supercar area is the star of the show and Rolls-Royce is one brand which will occupy a prestigious site in the event space courtesy of P & A Wood, serving as a striking reminder of the finest British design. In a similar vein, Range Rover and Aston Martin will also hold centre stage, although it has to be said that the rare addition of the spectacular Lightning GT supercar and the Bugatti Veyron might be enough to enthral the petrol heads in attendance! MTECH Racing, the UK’s leading Ferrari GT Team, will also be showing one of the Ferrari 458 GT3’s from the British and European championships.

The New Year scheduling for the showcase also makes it the ideal event for those looking to make home improvements in the form of very special new home products and features.

The first might come by way of a beautiful installation from the London Swimming Pool Company, an industry leader renowned for the creativity seen in its residential projects.

CITYpromotion

Alternatively, Clive Christian will be displaying its exquisite furniture designs which have earned the company royal appointment.

William Beard Flooring Ltd will also be taking the opportunity to present its precious metal finish and designer ranges. Both beautiful groups of products will be shown alongside the popular existing range.

Another stunning display comes in the form of renowned interior designer Steven Thorne who is collaborating with Home

Cinema Gallery for the first time to bring visitors the ultimate cinema experience.

For those with an interest in high quality jewels, Elite Gems is bringing the expertise which has seen its Mayfair outpost become the ultimate destination for hand cut diamonds.

Proving that the show supports enduring sophistication over impulse purchases, Elite Gems can offer comprehensive guidance on long-term investments on a discreet basis.

A visit to the show might also prove the incentive one needs to adhere to New Year’s resolutions. The Alter-G is a high-tech piece of exercise equipment, widely considered to be the most advanced in the world today. It incorporates technology utilised by NASA in the training of its astronauts to bring about cardiovascular fitness without increased risk of injury.

However, one could be forgiven for finding alternative sporting options at the stand occupied

by Prestige Ticketing. The team is the foremost organiser of exciting corporate packages for the London 2012 Olympic Games and can guarantee the same exclusivity and attention-to-detail which pervades the whole of the show. n

Luxury Lifestyle & Supercar Showcase Date: 6-15 January 2012

Destination: ExCeL London

50+ Exhibitors Include: Range Rover Aston Martin Clive Christian Rolls-Royce Elite Gems St James’s Place Wealth Management Wayne Pollock Exclusive Luxury

Book tickets: www.londonboatshow.com

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Enjoy a taste of

luxury at the

TULLETT PREBON LONDON BOAT SHOW The 2012 Tullett Prebon London Boat Show, taking place at ExCeL London from 6 to 15 January, is set to be another spectacular event for the UK to kick-start the year

P

ick out your dream boat from what is available at this year’s stunning showcase. Visitors can enjoy the luxury and glamour throughout the ten day show; walk among a wide variety of over 1,000 sail and power boats from Sunseeker’s £17.5 million, 40 metre motor yacht and Oyster Marine’s sleek 59ft Oyster 575 to the show’s largest boat inside, the elegant Princess 32M. While you are browsing the show, nestled in amongst the glitzy yachts in the South Hall is a brand new accompaniment to the Tullett Prebon London Boat Show; the Luxury Lifestyle and Supercar Showcase. The debuting expo is set in a stunning open-plan gallery showcasing some of the most premium, luxury brands on the market

such as the Mayfair Gallery, Wayne Pollock Travel offering bespoke holidays, Clive Christian and Range Rover. This will give visitors the chance to marvel at a range of highend products from supercars, home products, leisure and health to jewellery, watches, eyewear and finance – perfectly complementing the prestigious South Hall area of the Tullett Prebon London Boat Show.

If it is relaxation you are looking for why not take time out in the Sunseeker Champagne bar and take advantage of the Piper-Heidsieck champagne being served while overlooking the stunning yachts and motor boats?

There is plenty of shopping to be done at the show with marine-inspired fashion clothing, books and a multitude of the latest gadgets. Alternatively, sit back and watch

CITYpromotion

Michelin-starred Chef Adam Gray who will be giving live, daily demonstrations in the Clarks Knowledge Box. The show is free for children and is the perfect way to get into the spirit of celebrating London’s undisputed status as the ‘city of sport in 2012’. With a whole host of activities on offer to spectate or take part in, the Tullett Prebon London Boat Show has more than enough to keep the most ardent boating and watersports enthusiast entertained.

The 2012 Tullett Prebon London Boat Show is being held at ExCeL London which is just 20 minutes from London Waterloo and has over 2,500 car parking spaces on site. For the last four days of the show, you will also be able to enjoy the London Bike Show, Outdoors Show and the Active Travel Show at ExCeL London with your Tullett Prebon London Boat Show ticket. n Standard Entry Tickets to the Tullett Prebon London Boat Show cost £20 per day on the door or £16 if booked in advance. For an exclusive £20 Champagne Ticket, which entitles you to entry and a glass of Piper-Heidsieck champagne, visit www.londonboatshow.com or call the ticket hotline on 0871 230 7140 and quote code RW20.

Offer is valid Monday 9 January to Friday 13 January 2012. Terms and conditions apply: see website for details.

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calibre luxury gadgets

FORM &

FUNCTION There surely is nowhere better to celebrate the launch of a product for which form and function are of utmost importance than Dubai. Annabel Harrison takes a closer look at the first handset from BlackBerry and Porsche Design

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he Burj Khalifa is the tallest building in the world, soaring 829.84 metres into the air. Its lifts, the fastest in the world, travel at a top speed of 40 miles per hour. It boasts the highest outdoor observation platform, the highest nightclub, the highest restaurant and the highest New Year’s Eve fireworks display. The list goes on. Dubai is the land where the Burj Khalifa holds centre court, its gleaming point at times spiking through the clouds, and the sister buildings, while nowhere near as tall, have evidently been designed with as much attention to their aesthetic appearance as their purpose.

The Burj’s At.Mosphere bar offers dizzying views of the city and of the choreographed Dubai Fountain display 123 floors below. It is here that a select group of us were privileged enough to see first hand the product of 18 months of collaboration: the Porsche Design P’9981 BlackBerry smartphone. The handset, while obviously part of the BlackBerry family, has been crafted so as to stand out from the rest, comprising a forged stainless steel frame, hand-wrapped leather back, QWERTY keyboard and crystal clear touch display combination.

“This collaboration stems from a shared belief that form equals function,” pointed out Todd Wood, senior

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vice president for Industrial Design at Research In Motion.

“The Porsche Design P’9981 is a truly modern luxury smartphone, where the timeless style of Porsche Design meets the unmatched mobile experience provided by BlackBerry.”

Wood was softly spoken and clearly passionate about design, whether we were talking about BlackBerrys, boats, buildings or watches (he was sporting a smart black Panerai, if you’re interested). With previous experience as director of insight and innovation for Nokia Design, Wood was well placed to spearhead the project from the BlackBerry side.

While discussing the origins of the partnership, he explained that “Porsche Design had a long history designing these beautiful technology and luxury products for customers, many of whom had the mobility to travel. I was very intrigued by the idea [of working on a smartphone], in that we consider ourselves a collaborative brand and we knew that we could actually do something different. We have our own line and our own design, but if we combined that with the ethos, the design philosophy and the history of Porsche Design, that would be very special.”

For Porsche Design, the driving force (excuse the pun) is Roland Heiler and for him, the motto of Porsche founder Ferdinand Alexander Porsche neatly sums up Porsche Design’s approach: “If you analyse the function of an object, its form often becomes obvious.” Finding the balance between the two is crucial, as Heiler pointed out: “One can never overwhelm the other. You have to find a solution where both things are on the same level, otherwise you have something which looks nice but the functionality is not so great, or you have something that’s superb in engineering and works wonderfully but nobody likes it.”

It’s clear that both companies are singing from the same hymn sheet when it comes to design philosophies, and that there was a great deal of enthusiasm on each side. Wood concededed that his brand doesn’t collaborate with more than a handful of others, as the projects become difficult to manage. The chosen ones must share common ground with BlackBerry, as Porsche Design does, and the project then “nourishes and exercises us as designers”.

Heiler said his team was extremely interested in the project, forging a “great relationship and chemistry” with the BlackBerry designers: “We knew it would have to be a common effort, balanced as form and function have to be balanced, and it worked out really well.” In addition, “it’s a healthy thing not just to work within your own company, because you put yourself in a situation which keeps you up to date, fresh and challenged.”

This was important for Wood too, who cited smartphones as products that have become statements of the times, “in terms of material or process capabilities, capacity and volumes, etc”. However, BlackBerry is a brand that doesn’t take inspiration “from things that we know are trends and blips. We don’t necessarily look at the fashion industry and try to get the hemline or the motif into the phone; that doesn’t work. We look at much longer wavelength things, like furniture, or items that are even more timeless and that are inspired by nature.”

The Porsche Design P’9981 BlackBerry is clearly a phone for those who care equally about the form and function of the objects they use all day, every day and that neither one compromises the other. n

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Return of the Six Nations Following the departure of team manager Martin Johnson in the wake of England’s farcical performance at last summer’s World Cup, the defending Six Nations champions will be hoping that this year’s tournament sees attention return to their performance on the pitch.

In-form Wales, on the other hand, who narrowly missed out on a place in the World Cup final, having lost 9–8 to France in the semi-finals, will head into the tournament in buoyant spirits. The 13th series of the Six Nations Championship will kick off on the first weekend of February, with France playing host to Italy, Scotland facing England and Ireland taking on Wales. For the first time since they entered the tournament in 2000, Italy will play its home matches in Rome’s Stadio Olimpico, instead of the city’s Stadio Flaminio.

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marcokenya / Shutterstock.com

www.rbs6nations.com

RACING REWARDS While the stock market presents an obvious way to invest, it’s certainly not the most exhilarating nor, necessarily, the most fruitful. With racehorse ownership being more affordable than ever, horse racing is becoming an increasingly appealing way of investing your money. From sole ownership to partnerships, company ownership to club syndicates, there are numerous ways of investing in a horse. Although the risks may be high, the rewards can be immense, made even more exciting by the joy of watching your own racehorse cross the line first.

Racehorse trainer John Best has built a

reputation for spotting relatively cheap young horses that go on to compete at the highest level.

Kingsgate Native 20,000 guineas was purchased

by John and went on to win two Group 1’s and prize money of more than £400,000 before being sold for a figure in excess of £1 million. John has made a name for himself by setting up syndicates that race with a view to returning a profit, enabling owners to re-invest and increase both their racing opportunities and the fun and excitement of competing at many of the major meetings.

Visit www.johnbestracing.com and call 07889 362154 or 01622 880276 for more information

fstockfoto / Shutterstock.com

AWAY

Africa Cup of Nations The African equivalent of our European Championships, the 2012 Africa Cup of Nations will take place between 21 January and 12 February 2012. As host countries, Gabon and Equatorial Guinea automatically qualified for the tournament, which will be contested between 44 nations split into 11 groups.

Having being paired in Group A alongside Senegal, Libya and Zambia, Henri Michel, head coach of Equatorial Guinea, knows his team face a tough challenge to progress. “Every game will be like attacking Everest,” said the Frenchman. “If we succeed it will be a major feat.” The last three Africa Cup of Nations have been won by Egypt.

Australian Open With a total prize pool of more than £16 million, and the men’s and women’s champions each taking home a record £1.4 million, 2012’s Australian Open will offer its competitors the highest prize money in the history of Grand Slam tennis.

Having ended last year on a high by winning the ATP World Tour Finals title at The O2, Federer will head to Melbourne on a string of notable victories. Elsewhere, Australia’s Sam Stosur will be looking to delight home fans by building on her success at the 2011 US Open, where she beat Serena Williams on home turf.

16 - 29 January 2012 www.australianopen.com

Sporting Soundbite

There is nobody who understands elite rugby at the very top.

Sir Clive Woodward’s damning verdict of the Rugby Football Union

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CHEN WEI SENG / Shutterstock.com

It’s all about

the Money

Lee Brooks takes a look at how sport has transformed itself from a profession which once sat alongside an ordinary day job to a multi-billion pound industry

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port is a world of untold riches. From cricketer Kevin Pietersen earning £1 million for just 12 weeks work with the Royal Challengers in the Indian Premier League and Manchester United striker Wayne Rooney earning £250,000 a week to Etihad Airways signing a ground-breaking ten year sponsorship deal with Manchester City for a reported £400 million, the potential to earn, and indeed spend, money is huge.

Of course, six-figure weekly salaries, multi-million pound sponsorship deals and lottery jackpot-sized prize funds for tournament victories haven’t always been the norm. As recently as the 1970s and 80s, leading footballers and rugby players would make their money from outside the sport and play the game as a second job. Welshman JPR Williams, for example, was an orthopaedic surgeon by day and legendary rugby full back by weekend.

sports

Over the last 30 years, however, we’ve seen more money come into sport as big businesses have seen how they can use it to boost their companies’ growth through advertising.

“Large companies are finding sport to be cost effective in communicating with a large audience,” said Steve Madincea, founder and group managing director of PRISM, a global sports PR and sponsorship agency which works with brands such as Red Bull Racing F1 team and Infiniti, the Champions League and Ford, and Ferrari and Shell, among others.

“We’ve seen a fragmentation of media, [with] so many TV channels and more people going online. Sport is one place where you can get a global audience.”

With events now signing up sponsors, organisers are able to offer better quality venues and healthier prize funds, which in turn attract bigger name athletes. This increases the profile of the tournament, which then attracts paying fans and also helps to drive up the price of TV rights fees. Each element feeds the other to force the figures up year-on-year.

Using the last 30 years as a barometer once more, we’ve also seen a massive change in the way audiences view sport.

When the number of TV channels was limited to just a handful, the amount of sports coverage available then pales into insignificance when you consider the dedicated sports channels in the form of Sky Sports and ESPN and the fact that the BBC has upped its scope of coverage through the use of the Red Button interactive service.

This competition has driven fees up (Sky spent £1.62 billion on TV rights when they negotiated fees in 2009), regardless of the recent economic downturn, in order to supply another much-needed source of revenue to the venues as well as to teams who compete (Premier League clubs shared £346 million in 1995, according to business analysts Deloitte. That figure rose to a mind-boggling £1.99 billion in 2009).

In Formula 1, for example, under the terms of the socalled Concorde Agreement, ten of the top 12 teams in the constructors’ standings at the end of the season share 50 per cent of the sport’s profits from sources such as TV rights and track advertising. There’s also good money to be made in appearance fees: the highest prize money for a world title bout was paid out in 2007 when Mexican boxer Oscar De La Hoya made a staggering £36 million for fighting Floyd Mayweather Jnr – and the Mexican didn’t even win, losing on a split decision.

Aside from sponsoring an event like the Champions League or the Super Bowl, large companies have found it incredibly beneficial to recruit athletes as ambassadors to endorse their products. Multiple Olympic gold medallist Chris Hoy hit our screens after Beijing’s Games, promoting Kelloggs cereal Bran Flakes, McLaren’s Lewis Hamilton and US Open champion Rory McIlroy are the faces of bank Santander and of course the world’s most famous golfer Tiger Woods has been the face of grooming company Gillette (before he was dropped after a string of affairs were exposed), alongside former Arsenal footballer Thierry Henry and tennis legend Roger Federer.

However, while athletes continue to endorse products to

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boost their income, they’ve become much choosier, according to Madincea. “If we go past the obvious money thing, athletes today are more particular about the brands that they are associated with,” said Madincea. “Now athletes are thinking: ‘What can these brands do for me? Can they help me raise my profile? Can they help me position myself as a more everyday type person?’ For the latter, I’m thinking of McLaren F1 driver Jenson Button and the Head & Shoulders deal as an example.

“There is no doubt that in most negotiations I’ve been involved in over the last couple of years, people are asking about the ‘Tiger Woods clause’, which is ironic mainly because that was the man everybody wanted to sponsor.

But let’s not forget that Nike made a tremendous amount of money out of Woods, and still do, while Woods obviously made a lot of money out of the deal, too.”

Despite losing five major endorsements in the last two years, Woods is still big business. He retains his Nike and EA Sports contracts and has replaced Tag Heuer with another luxury watch brand: Rolex. According to Sports Illustrated’s 2011 Fortunate 50 list, he earned £1.46 million in salary and winnings and approximately £38.2 million in endorsements and appearance fees, making him the top-earning athlete in the world.

Excluding Americans, Federer was the most financially successful athlete in 2011, bringing in £33.6 million, with boxing legend Manny Pacquiao second on £34.1 million, Ferrari F1 driver Fernando Alonso third (£28.6 million), Barcelona football wizard Lionel Messi fourth (£27.9 million) and Real Madrid midfielder Cristiano Ronaldo fifth (£24.7 million). The best placed Brit was Rooney, who endorses Nike and EA Sports, on £18.6 million and former Manchester United midfielder David Beckham just behind, on £17 million.

When it comes to overall wealth, former Blackburn player and Wigan Athletic FC owner Dave Whelan is currently the richest sportsman in Britain (according to The Sunday Times Rich List) with a net worth of £190 million. Beckham, who is coming to the end of a £128 million, five-year deal with Major League Soccer team LA Galaxy, is next up, with a net worth of £135 million. It’s no surprise that with figures like this, millions of children across the world aspire to pursue a career in sport, but it’s worth noting that for many, sport isn’t the pot of gold people perceive it to be. During the Pakistan cricket scandal court case, it emerged that some players on a central contract earn just £1,300 per month, which equates to about the same as the UK average wage of £26,470. And while still substantial, an average football player in the Championship, one level below the Premier League, earns £275,000 a year – a figure which is similar to some top players’ weekly income.

However, it remains true that there is money in sport – and plenty of it. Big businesses are finding sponsorship to be successful and cost effective and competition between TV sports channels is as big as ever, as is the desire of teams and athletes to win in order to attract fans, sponsors and TV rights financing. As such, the relationship between sport and money is only set to get stronger. n

Premier League clubs shared £346 million in 1995, according to Deloitte. That figure rose to a mindboggling £1.99 billion in 2009

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N E W S TO R E

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Available from Burlington Arcade, Mayfair Tel: 020 7499 6485 and 149 Sloane Street Sw1 Tel: 020 7730 6891

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THE DRESS OF YOUR DREAMS

W There can be no greater wardrobe investment for a woman than the dress she will wear on the most significant day of her life

ho better to make sure that this investment is worth it than British designer Jenny Packham, whose iconic wedding dress designs have enthralled women across the globe? Her latest bridal collection is inspired by “a fusion of the iridescence and seraphic beauty of nocturnal butterflies”; silk tulles and exquisite French lace, embellished with Swarovski jewels, catch the light beautifully. Champagne silvers, delicate golds, soft ivories and sophisticated whites sum up the collection’s palette.

The Anya dress (pictured) features a tight bodice studded with translucent crystals. A bare décolletage is perfectly complimented by the long, white flowing train of the bottom half of the dress, delicately separated by an opulent champagne-coloured sash. Elegant and refined, this jaw-dropping design is guaranteed to make you the belle of the ball on your big day.

In addition to bridal wear, Jenny Packham produces ready-to-wear, resort, accessories and lingerie collections. Her designs have been worn by a multitude of A-listers including the Duchess of Cambridge and Jennifer Aniston. n

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fashion

concierge

women’s fashion

news A Stella Celebration Stella McCartney is another fashion guru known for her green credentials; the Stella McCartney stores, HQ and studios in the UK are powered by Ecotricity, a company which invests profits in renewable sources of energy, and is committed to recycling office waste. Between 26 January and 14 February, a celebration of the designer’s work, entitled ‘World of Stella’, will be running at Selfridges; the installation will comprise a new fragrance launch and display of ready-to-wear, lingerie, accessories and other collections. www.stellamccartney.com

Quote of the month

Giving Back Designer Dame Vivienne Westwood has long been a passionate environmental campaigner, launching in the last few months her eponymous Palladium collection, with suitably green motifs, as a call to action to prevent climate change. Having worked with the charity Cool Earth for the past three years, Vivienne has recently invested £1 million of her

own finances as part of a huge fundraising drive for the rainforest charity. The campaign is entitled ‘No Fun Being Extinct’ and will run over an 18 month period to secure three of the world’s most endangered forests. Fellow fashionistas Sadie Frost and Kate Moss are also supporting the cause.

www.harrods.com

www.eco-age.com

This wintery, cream faux fur Tibi coat is an ethical classic. The taupe tone is luxurious and versatile, while the shortsleeved, collarless design, as well as its exposed zip, give it a modern edge. Team with faux leather leggings and wedge boots for a look which will take you from day to night.

Harrods, Tibi

KATHARINE HAMNETT

www.coolearth.org

MUST-HAVE ITEM

Faux Fur Coat, £625

There is an industry model which rhe earth can benefit from.

Website

TREND: cOLLARS

Under the guidance of creative director Livia Firth, Eco Age highlights the best in ethical fashion brands and good causes.

The website is entering a new stage of development with even more picture galleries and charity news to complement a selection of stylish pieces you can purchase online, including cosy cashmere cardigans and fair-trade handbags.

Virtually all the looks in the Miu Miu A/W11 show featured collars, worn over everything from pretty tea dresses to voluminous jumpers.

We love the idea of teaming a glitzy collar necklace with a simple white T-shirt, for understated appeal.

Fiona Paxton Sequin Collar Necklace, £190, Urban Outfitters www.urbanoutfitters.co.uk

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Gone Swimming

Emerald City

Founded in the chic resort of St. Tropez in the 1970s, Vilebrequin focuses solely on creating quality men’s swimwear and bathing accessories. Thanks to the range of stylish, practical and comfortable products, a pair of Vilebrequin swimming shorts is a fantastic holiday wardrobe investment and one which will never look out of date. Designer Zaza de Brito has drawn inspiration from the sights and spirituality of India for the S/S12 collection, with a dazzling array of colours on offer. In particular, the vibrant Ceruleum Shorts reference the painted blue houses found in Jaipur in a perfect turquoise waterside shade.

A piece of eye-catching jewellery is the perfect addition to any accessory collection and even better if it is a classic design, wearable on any occasion. Established in 1893, the directors of Searle & Co. have a combined wealth of knowledge and expertise concerning all types of jewellery and silverware. This stunning emerald and diamond cluster ring is timeless, elegant and would undoubtedly dazzle as part of any outfit, as well as being a fantastic gift that is certain to stay in the family for many generations.

Vilebrequin Ceruleum Vintage Swimming Shorts, £110

Searle & Co. 18-carat Gold, Colombian Emerald and Diamond Cluster Ring, £20,000

Vilebrequin 26 Royal Exchange 020 3206 1022

Searle & Co. 1 Royal Exchange 020 7626 2456

Smart Spending Although Christmas has been and gone, the Royal Exchange in January is a fantastic place to treat yourself with items that are worth spending money on, whether top of the range skincare products, winter break wardrobe boosters or investment accessories

Divine Intervention

Beauty Booster

This little pot of gold created by L’Occitane is a rising skincare star: it was voted the number one Anti-Ageing ‘Miracle’ Cream in the UK by the 2011 Anti-Ageing Beauty Bible, which saw hundreds of international beauty brands independently tested by 2,400 women. Featuring the powerful Immortelle and Myrtle essential oils, this cream has the extraordinary ability to brighten, regenerate and renew the skin. The latest best-seller in the luxury skincare market, this miracle worker is the perfect investment for your skin.

The Vitamin E range from Jo Malone London includes six pampering products for face and body, designed to indulge and nourish. If your skin needs some special attention this winter, the Vitamin E Daily Moisturising Crème is the ideal solution. It rehydrates and protects against the first signs of ageing, as well as shielding skin from the harmful effects of UV rays. The luxuriously lightweight formula is enhanced with rosemary leaf and grape seed extract, helping to combat radical damage. It also includes caffeine, which helps to soothe and comfort, as well as barley extract and wheat germ which strengthen the skins barrier, and in turn reduce water loss.

L’Occitane Divine Cream (50ml), £65 L’Occitane 29 Royal Exchange 020 7929 7722

Jo Malone Vitamin E Daily Moisturising Crème, £50 Jo Malone 24 Royal Exchange 0870 192 5131

Scents and Sensibility

Sublime Shapewear

Penhaligon’s gorgeous Amaranthine scent, created in 2009, has been described as “bewitching” and “corrupted floral”. Now this addictive perfume is available in a limited edition crystal bottle, a stylish statement on any bedroom dresser. The bottle, created in collaboration with Mary and Chris Hurst of Silver Tree Crystal, is inspired by vintage glass and crystal designs and is adorned with an elegant silver charm bracelet, designed exclusively by Alex Monroe. A precious scent encased in a unique crystal design makes this offering from Penhaligon’s a true investment.

Quality shape wear is an essential investment but is often more practical than pretty. Iconic lingerie brand Agent Provocateur - known worldwide for flattering and sensual designs - has come up with stunning solutions for a creating a sexy, smooth silhouette. The S/S12 collection features the ‘Janey’ corset, a feminine piece that creates a gorgeous, slim shape. Combining sheer black lace with subtle flesh tones, this corset is elegant, provocative and stylish; a design that will never go out of style.

Penhaligon’s Amaranthine Limited Edition Crystal Bottle and Perfume, £350 Penhaligon’s 4 Royal Exchange 020 7623 3131

Agent Provocateur Janey Corset £395 Agent Provocateur 5 Royal Exchange 020 7623 0229

Love Wine Mondays Start your week with supper at Sauterelle; the Monday promotion is a fantastic opportunity to make use of the investment bottles of wine that may be waiting in your cellar. Every Monday, guests are encouraged to bring their own wine for a corkage fee of just £5 per bottle. The sommelier team is on hand to recommend the best dishes to complement your wine, so you can really make the most of the delicious menu created by head chef Robin Gill. This fine dining establishment is sophisticated dining at its best, offering contemporary French cooking with fresh, light flavours.

Sauterelle The Mezzanine, Royal Exchange 020 7618 2483

Arm Candy A nude bag is a wardrobe must-have and the classic ‘Anna’ Handbag, created by Lulu Guinness, covers all bases by being versatile, covetable and chic. With the option of wearing it over the shoulder or across the body, the two-handbags-inone style works well for daytime as well as after dark. Featuring details such as the logo turn lock closure, a delicate chain strap and quirky striped lining, the Anna bag is a luxury investment that will be a staple season after season.

Lulu Guinness Stone Crinkle Leather Small ‘Anna’ Handbag, £195 Lulu Guinness 23 Royal Exchange 020 7626 5391

Agent Provocateur || Artisan Fine Art || Bachet || Boodles || Bulgari || Church’s || Crockett & Jones || De Beers Gucci || HeRMes || Jo Malone || Kiehls || KOJIS || L’Occitane || LOEWE || Loro Piana || Lulu Guinness || Milleperle Molton Brown || Montblanc || Omega || Paul A. Young Fine Chocolates || Paul Smith || Penhaligon’s Pretty Ballerinas || Royal Exchange Jewellers || Searle & Co || Smoker’s Paradise || Smythson || Tateossian Theo Fennell || Tiffany & Co. || Vilebrequin || Watches of Switzerland Grand Cafe & Bar || Imperial City || Mezzanine Lounge || napket || Sauterelle || Pavarotti’s

Royal Exchange, Bank, City of London, EC3V 3LR

www.theroyalexchange.co.uk

Mayfair

the heart of

c o c kta i l b a r | lo u n g e | r e s ta u r a n t | c h e f ’ s d i n i n g r o o m | a r t g a l l e r y | l a c a v e 1 0 l a n c a s h i r e c o u r t n e w b o n d s t r e e t lo n d o n w 1 s 1 e y + 4 4 ( 0 ) 2 0 7 5 1 8 9 3 8 8 w w w. m e w s o f m ay fa i r . c o m

fashion

concierge

Three of the Best...

Business Suits

men’s fashion

news

First impressions are everything; never leave the house in a suit that doesn’t say sleek, sharp and smart

Best of British As this is our investment issue, we thought we’d highlight our love for a true, time-transcending piece of British menswear. Like the Burberry trench coat and Church’s brogue shoes, Barbour’s International motorcycle jacket has become an iconic must-have for anyone with a love of traditional English tailoring.

This January, following the jacket’s 75th birthday last year, Barbour is launching its new International range. Alongside the legendary Barbour International biker jacket in signature wax, the collection explores motorcycling themes and details in lighter weights and nylons.

Key models from Barbour’s motorcycling range are reworked in bold monochromatic colours, while details such as black and white check lining and black and yellow studs add a line of modernity and dynamism.

When it comes to the men’s stylestakes, the Barbour International never goes out of fashion, proved by the fact that the limited edition modernday versions are already expected to become collectibles. www.barbour.com

Wool cashmere suit The Chester by Chester Barrie £380, www.chesterbarrie.co.uk

Wool and mohair suit Mayfair Richard James at John Lewis £485, www.johnlewis.com

From Paris with love Lovers of London-based Corthay need no longer rely on Harrods for the shoe brand’s distinctive footwear. Last month saw the much anticipated opening of the company’s London Maison in Belgravia.

The 24A Motcomb Street address pays homage to the shoe company’s flagship Paris store and will stock Corthay’s full ready to wear collection. Known for the quality of its craftsmanship, Corthay employs Beachwood shanks to ensure rigidity of shoes’ arches, natural cork to provide insulation and ‘slow’ leathers that have spent a full year in a tanning basin before they are put into manufacture.

Bishopsgate suit

www.corthay.com

Reiss, £495, www.reissonline.com

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Eyes

for your

Photographer:

James Knapp Fashion Editor:

Lucie Dodds

only

White lace dress, £7,050, white evening shirt, £295 and velvet bowtie, £145, both Tom Ford at Harrods Knightsbridge, www.tomford.com Pearl necklace, £45,700, pearl and pavé diamond earrings £19,500, both Mikimoto, 179 New Bond Street 020 7399 9860, www.mikimoto.co.uk

Black tuxedo, £1,195, white pique dress shirt, £195, enamel dress studs, £300, pocket square, £55, all Dunhill, www.dunhill.com velvet bow tie, £145, Tom Ford at Harrods, as before

Black silk dress, £1,995, Vionnet at Harvey Nichols Knightsbridge, 020 7235 5000, www.harveynichols.com Brilliant cut diamond in 18-carat white gold hoops, £76,000 and brilliant cut diamond in platinum three stone ring £120,000, Boodles, 020 7283 7284, www.boodles.com

Silk strapless dress, £1,025, Lee Klabin at Harrods, as before, white evening shirt £295, velvet bowtie, £145, satin cummerbund, £265, and evening trousers, £605 All Tom Ford at Harrods, as before Red Carpet Collection aquamarine and grey/black pearls in white gold, POA Chopard, 12 New Bond Street, 020 7409 3140, www.chopard.com Black mother of pearl cufflinks in white gold, £1,930, and LUC Collection XPS watch in white gold with silver-toned dial (COSC certified), £9,140, Chopard, as before

Dress, £1,230, Moschino at Harvey Nichols, as before Swarovski crystal Imelda clutch bag, £650, Gina Couture Old Bond Street, www.gina.com Platinum and round diamond Lorinda earrings, £73,200 William & Son, 10/14 Mount Street, 020 7493 8385 5.25-carat diamond and platinum ring, £190,000 Bentley & Skinner, 55 Piccadilly, 020 7629 0651

Lace and velvet collared dress, £2,545, Emilio Pucci at Harvey Nichols, as before, velvet and Swarovski crystal Leo studded bag, £895, Gina Couture, as before Atea white diamonds on white gold 1.95-carat earrings £7,300, and Atea white diamonds on white gold 0.67-carat ring, £3,300, both De Beers, 50 Old Bond Street, 020 7758 9700, www.debeers.com

Hair: Paula Mann at Models1 Creative

Make-up: Kate Hughes at Tiger Creative using Collection Les Scintillances de Chanel

Chosen with

The jewellers of the Burlington Arcade have all you need for the most romantic month of the year

Love

J

ewellery is the international expression for ‘I love you’, and the Burlington Arcade, located in Mayfair, promises to captivate those who are seeking rarity, quality and one-of-a-kind pieces for loved ones.

Housing London’s most exclusive jewellers, you’ll find exquisite examples from the most celebrated of jewellery designers, including Boucheron, Cartier and Van Cleef & Arpels.

From engagement rings to diamond necklaces, timeless antiques to contemporary classics, the Burlington Arcade’s impressive array of experts are on hand to help you find the perfect piece.

This allows you to buy with confidence, ensuring you have an item to treasure for years to come.

Cameo Corner

With over 100 years experience, this well known brand houses some of the finest antique jewellery, from a range of stylish eras.

Ciro

For those with a penchant for the dramatic, look no further than Ciro where eye-catching costume jewellery, pearls and jewels offers more than a touch of sparkle to your winter wardrobe.

Han co cks

Open since 1845, Hancocks is something of a British institution. Jaw-dropping diamonds and unique, historic jewels can be found in this discreet store. The company also has the honour and responsibility of making every Victoria Cross medal, the highest military decoration awarded to war heroes.

PROMOTION

CITYpromotion

Heming

Nourbel & L e Cav elier

The company is launching its very first two-floor concept boutique at 23 Burlington Arcade. This necklace is a one of a kind that is part of a unique collection of emerald creations – it is finely set with 17 carats of rare natural Zambian pear shape emeralds, and 40 carats of fine white diamonds, entirely crafted by hand.

With one of London’s top in-house design teams and three centuries of jewellery-making experience, Heming can tailor your jewellery needs exactly to you. Designs are mostly clean, chic and elegant, but often brightened with a pop-coloured jewel stone or two.

H i r sh

Combining vibrant, intensely-coloured gems and brilliant diamonds with stylish design, Hirsh’s range of jewellery will add a glamorous finishing touch to any outfit.

M att h ew Foster & Jo hns on Wal ker

A treasure trove of the best in Art Deco, Art Modern and 1960s jewellery, Matthew Foster’s jewellery elegantly captures the spirit of its age. Meanwhile, Johnson Walker specialists in unique antique jewellery, primarily from the glamorous 1940s.

S usannah Lovis

With a flair for the unusual and the inspired, Susannah Lovis offers a glittering array of antique and modern jewellery. The team can create custom pieces and, with experts on hand to advise, you are sure to find the perfect gift.

R ichard O gden

Michael Rose & Tessier

Michael Rose offers a simply stunning array of limited-edition and vintage jewellery, whilst Tessier houses gorgeous gems with historic significance.

Drawing on the expertise of four generations of master jewellers, Richard Ogden holds an exceptional range of pieces from Victorian tiaras to contemporary commissions. It is especially famous for its dedicated ‘Ring Room’ that has served customers throughout the decades from Charlie Chaplin to Madonna.

For more information visit

Mil l e p e r l e

Specialists in pearls from all over the world, including Tahiti, Japan, Indonesia and the Pacific, Milleperle offers beautiful pearls in every colour imaginable, symbolising purity and everlasting perfection – what more could a girl ask for?

www.burlington-arcade.co.uk

Exclusive Modern Furniture Made in Germany

Harrods Heal’s

3rd Floor Knightsbridge | www.hulsta-harrods.co.uk

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www.hulsta.co.uk | the german furniture brand

Hulsta_C-Wharf_City_Oct11.indd 1

16/09/2011 13:30

health & fitness

concierge

health & fitness

news

Your chance to win with Concept2 The City magazine has teamed up with rowing machine specialists Concept2 to invite you to an exclusive event on Thursday 26 January. Taking place at Canary Wharf’s Tompkins bar, located on the ground floor of the landmark Pan Peninsula building, the event will give guests the opportunity to win two exclusive tickets to the Stewards Enclosure during Henley Royal Regatta - an enclosure usually reserved for international rowers and those who have competed in either the OxfordCambridge Varsity Boat Race or at Henley itself. In addition to free champagne, guests will be able to meet Olympic Gold Medal rower Greg Searle and will receive Concept2 goody bags worth £50 each. To attend the event please rsvp to admin@runwildgroup.co.uk with your name and the name of any additional guests you would like to bring.

Concept2 at tompkins

Massage Magic Thanks to its 29 different settings, including specific spot massage, HoMedics’ new 3D Shiatsu Back and Shoulder Massager will adjust to fit, no matter what your shape or size. Using soothing heat pads and combining both shiatsu and vibration massage, the machine offers the sort of deep kneading a day at the desk can leave you aching for. You’ll never have to pester the other half for a massage again.

3D Shiatsu Back and Shoulder Massager, £229.99 www.homedics.co.uk

Hairspray for Boys

Smilepod Bank (Leadenhall Market, off

Yes you read that correctly.

Following the success of its matte finish hair wax, Fudge has designed a hair spray for boys.

The non-greasy alternative to waxes and gels, Fudge Matte Head Gas is the ideal product for achieving that natural, relaxed dry look. The spray has a hold factor of 13, meaning that, once styled, your hair will stay in place from morning to night.

Fenchurch Street), 18-23 Cullum Street

Fudge Matte Head Gas, £9.95

info: 020 7836 6866 or reception@smilepod.co.uk

www.fudgehair.co.uk

Thursday 26 January, 6.15-8.15pm 4 Pan Peninsula square Canary Wharf

treatment of the month: Brightening Your Smile A fear of the dentist need never be a barrier to a gleaming smile again. The London-based dental hygiene company Smilepod is bringing highquality professional dental care to the streets of the capital in the form of friendly, walk-in studios.

Making oral treatment as convenient as a trip to the hairdresser or optician, Smilepod gives you access to a range of services including teeth cleaning, whitening and straightening.

The company’s skilled teams operate out of three walk-in dental studios across London - at Canary Wharf, Covent Garden and Bank. Smokers, coffee lovers and red wine drinkers will be pleased to know that Smilepod are offering initial teeth whitening consultations, worth £25, for free.

89

ONE SMALL With New Year comes an onslaught of resolutions to give up all bad habits, with a view to reinvigorating every area of our lives.

Three quarters of these vows are broken each year so our advice is this: don’t do everything at once but choose one thing to focus on until it has improved.

Here are some suggestions to help with that most important resolution, whether you choose to prioritize fitness levels, eating habits or mental attitude

Mark Anthony’’s VIP Detox

Pandora Jones tries the bespoke personal training and food delivery programme to blitz your body It’s easy to forget that the equation for getting in shape is fairly simple: burn off more than you eat. So your two choices are either to eat healthily or increase your calorie output, but somewhere along the line one or both of these will fail in nearly all diets, resulting in a recidivism rate that would terrify even the most hardened of judges. The genius behind this VIP plan – and it truly is VIP – is that it removes the margin for error. Your food is balanced, healthy and delivered to your door each morning before you wake. It’s surprisingly nice and filling, removing that hideous, deprived feeling that most of us succumb to on a diet (a week of raw carrot juice anyone?).

However, it’s the four-times a week personal training sessions that make the real difference between achieving great results and having to do another diet in a few months’ time. My trainer was just what I needed, keeping me motivated but more importantly ensuring that I was doing everything right. Even after the first hour I felt a difference from time on my own in the gym, which was punctuated with water breaks, iPod playing and general (ineffective, I’ve since learned) stretching.

Having an expert watch you do your workout makes a world of difference, especially when it comes to doing reps, as those final sets are the ones that count, the ones that you will naturally try to cheat on, consciously or not (the body will always try to find a way to make what you are doing easier for you, even without your knowledge).

The programme also means that an hour workout actually lasts for an hour, making the most effective use of your time, while the gym itself bears more resemblance to a high-end spa, with delicious candles and beautiful stone flooring lulling you into a false sense of calm.

The chauffeur service again removes excuses and error as you are taken to your appointments in style, and without hassle, and I personally found it a great chance to catch up on calls and emails.

The programme is recommended for six weeks, and after just a week I noticed a real difference in my fitness levels and shape. Signing up for the full programme will be the best present you have ever given yourself and you can put an end to fad diets, gym trials and calorie counting for good.

To book the six-week VIP Body System Package, ring 020 7221 8625 or visit markanthonysuk.com for more information.

Prices start at £5,000 for a six-week course.

health & fitness

concierge comment

THE LEMON DETOX

Annabel Harrison tests out the quick-fix detox favoured by A-listers worldwide Following the indulgences of the festive period, it’s tempting to do something drastic to restore a feeling of well-being to your body; too much alcohol, not enough sleep and too many mince pies, Yule log and bacon-wrapped sausages.

Enter the Lemon Detox. I’d read about it, following Beyoncé’s drastic pre-Dream Girls body blitz, and it sounded like just the thing to banish the toxins from my body.

It varies in length and intensity and can be altered specifically to suit every need and lifestyle, from a five to ten day fast to more relaxed food combining variations. I certainly couldn’t manage a ten-day fast so what I tried, as a gentle introduction to the programme, was a threeday fast, consuming only the Lemon Detox concoction, made up of water, fresh lemon juice, cayenne pepper or ground ginger and Madal Bal Natural Tree Syrup. This last ingredient is the crucial one: both organic and fair trade, it consists of four different South East Asian palm syrups rich in essential minerals and nutrients such as manganese, zinc, potassium and calcium, giving your body the essential nutrients it needs to be able to carry out the fast.

The drink can be consumed hot or cold and, believe it or not, I didn’t feel hungry. At least, I was fine in the confines of my own home, where I could distract myself easily and avoid food. However, once in the office on day three, my resolve wavered and crumbled as colleagues ate delicioussmelling food all around me. My advice? Do this when you have a few days to yourself and feel your skin brighten, your stomach flatten and the excess of Christmas drain away.

The Lemon Detox is fully endorsed by leading medical experts including Jan de Vries, acclaimed naturopath, nutritionist and author, Amanda Griggs, leading nutritionist from the prestigious Balance Clinic in London, Doctor Sarah Brewer, eminent nutrition expert and health journalist and Suzi Grant, nutritionist and acclaimed author. Benefits can include weight loss, reduced stress, clearer skin, boosted energy levels and improved sleep.

Madal Bal Natural Tree Syrup is priced £42.99 for a 1-litre tin and is available nationwide. For stockist details call 0845 370 1012 or visit www. lemondetox.com

Back4Good

If you struggle with back pain but are at a loss as to what to do about it, read on for expert advice More than 80 per cent of us will experience lower back pain at some point in our lives. Thankfully, Europe’s leading Pilates group, Body Control Pilates, is launching Back4Good, a pioneering initiative that provides a long-term solution to managing the common problem. Endorsed by leading medical professionals and by BackCare, the national charity for healthier backs, Back4Good is now available across the UK. The initiative offers two types of bespoke classes; the first, run as weekly group classes, is aimed at preventing the onset of back pain by strengthening your core abdominal muscles and keeping your spine strong and flexible. The second type is a session designed for people already suffering from chronic lower back pain. These are taught as ‘one-to-one’ sessions or in small groups after a Back4Good practitioner has, reassuringly, liaised with each client’s GP. Both programmes have been developed in conjunction with medical specialists and are provided by Body Control Pilates’ government-accredited exercise professionals. “We’ve worked closely with leading medical experts in the field of back pain to create a unique set of exercises designed to target many of the complex underlying causes of the problem,” explains Body Control Pilates founder Lynne Robinson. n www.back4good.eu

91

DESIGNSALE Great savings on sofas, tables, wall systems and lots more!

Visit our professional Design Consultants in store and ask about our Free Interior Design Service or see all the great offers on www.boconcept.co.uk

BoConcept TCR 路 158 Tottenham Court Road 路 London W1T 7NH 路 0207 388 2447 路 tcrlondon@boconcept.co.uk

333_UK_TC_sale_city_angel.indd 1

17/11/11 20:38:38

interiors

concierge

interiors

news High-tech Home On 16 January John Lewis is unveiling Krushr, a suitably sci-fi sounding kitchen appliance which makes recycling all the more convenient. It stores both general waste and recyclable materials and compacts packaging by 75 per cent to save space. The unit can also be integrated into a sideboard or is available to stand alone, making it a viable tool in the eco-friendly market for a vast number of London homes.

Krushr appliances start from £429 www.johnlewis.com

Award for Ethics

Date for the Diary The World Wildlife Fund has declared 8.30pm on 31 March to be the start of this year’s Earth Hour. At this time, an estimated 1.8 billion people, in 138 countries around the globe, will be encouraged to save electricity and unite in 60

minutes of darkness in order to recognise the beauty of the earth and the need to protect it from various environmental challenges, including deforestation and climate change.

Nkuku has been declared www.notonthehighstreet.com’s most ethical business, managing to consolidate a commitment to fair trade and the environment into its working approach. The site showcases pieces handmade by artisans who are recruited across India and these exceptional wares include beautiful coffee tables, ornate metal lanterns and baskets woven from natural fibres by a collective of 400 craftswomen. www.nkuku.com

www.wwf.org.uk//earthhour

Conscientious Design Following on from the quirky, monochrome Karl Lagerfeld tumblers featured on this page recently, this month we were glad to discover some similarly contemporary pieces from Bib & Sola. The new brand is the brainchild of lifestyle designer Kira Heuer, who fuses her talent for fashion and design with a passion for sustainable living. The range is inspired by the composure of female water bearers across the world and a percentage of the proceeds from each sale goes towards The One Foundation’s development of pump water systems in Malawi. www.bibandsola.com

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the trend Style your home ethically without forsaking elegance and take inspiration from the organic, the upcycled and the environmentally sound

Seagrass Fine Herringbone Rug, POA The Natural Rug Store, www.naturalrugstore.co.uk Tall Copper Candlestick, ÂŁ60, Danaqa www.danaqa.com

Oval Shaped Copper Vase, ÂŁ35 Danaqa, www.danaqa.com

interiors

concierge

Glass & Brass Chandelier with Arrow Shaped Drops, £1,295, Barovier & Tosa at Decoratum, www.decoratum.com Cushion Cover with River £65, Danaqa, www.danaqa.com

Cashmere Hottie Cover, £75, Celtic Sheepskin www.celtic-sheepskin.co.uk

Illuminated Dining Table, £12,950 Decoratum, www.decoratum.com

Umbra Minimax Vintage Frame, £16 John Lewis, www.johnlewis.com

High-sided Armchair reupholstered in Fornasetti Fabric £2,750, Decoratum, www.decoratum.com

Metallic Gold/Pewter Cushion, £65 Mumo, www.amara.co.uk

Infant Fleece, £75, Celtic Sheepskin www.celtic-sheepskin.co.uk

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concierge interiors Seba Dark Teak Bed, £1,195 Lombok, www.lombok.co.uk

St Germain GP Wallpaper, £65 per roll Farrow & Ball, www.farrow-ball.com

Piano Stool, £245, Lombok www.lombok.co.uk

Belle Fair Trade Quilt in Yellow, £140 Biome Lifestyle, www.biomelifestyle.com

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BeoVision 7 They’re remarkably intuitive. Stunningly beautiful. And completely focused on discerning and satisfying you’re every viewing desire. The BeoVision 7-55 and 7-40 combine leading edge, perfectly synchronised components with our signature sound and vision technologies to provide a viewing experience that will engage, entertain and inspire you like never before – all on your own terms. An experience that begins the instant you settle into your favourite chair and pick up your Beo6 remote, which enables you to control everything with ease.

For Magazine for a free For more more information information about our full range of products, products,contact contactus usquoting quotingThe CityMayfair Magazine for a free consultation in consultation in our our showroom showroomor oreven evenyour yourown own home. home.

Bang & Olufsen of Chelsea Scan the code with your Smartphone to browse Bang & Olufsen on your mobile. Download a QR reader app from your app store. A charge may be applied by your network provider.

147 Kings Road, London SW3 5TX Tel: 020 7376 5222 Email: chelsea@bang-olufsen.co.uk www.bang-olufsen.com/chelsea

Bang & Olufsen of Chelsea - BeoVision 7-55 advert - Place at 100% (297 x 210mm) Production questions:

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ph. Andrea Pancino C

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investment food & drink out & about

art & wine cut, 45 park lane .......................midnight tango

.............................................................. . ..........

A SUITABLY ROYAL SALUTE

Ahead of Her Majesty The Queen’s Diamond Jubilee, we pay tribute with the launch of the rarest crafted whisky by the Scotch range Royal Salute

W

hen a royal whisky brand meets an ancient jeweller, the perfect blend has been created. Since its origin in 1953, Royal Salute’s prestigious Scotch whisky range has remained the pinnacle of its kind. Tribute to Honour, the latest creation by expert whisky-maker Colin Scott, pays homage to the oldest crown jewels of the British Isles, the Honours of Scotland, with Scott’s rarest blend encased in just 21 bejewelled bottles.

Although some might find it garish to garnish a whisky bottle with diamonds, the statement

container is fitting for such an occasion. The exquisite cask, created by the world’s oldest jeweller to royalty, Garrard, has been specially hand-cast in black porcelain with precisely 413 white and black diamonds. Some of these precious jewels are arranged to outline the Sword of State, which remains one of the oldest Crown Jewels in the British Isles. 22 carats of gemstones adorn the decorative collar and visage and the golden lions are symbols of valour and patriotism. n Each flagon of the Royal Salute Tribute to Honour is priced at approximately £128,000

99

The

Finer Things in life

Art for Art’s Sake It seems ironic that when a recession hits, there is a slump in essential spending yet a rise in the sales of luxuries like fine art. In the past turbulent year, some buyers have paid astonishingly large figures for fine art but not on a mere whim: the upper end of the art market, and its rare pieces in particular, have been known to stand the test of time, seen as safe harbours during financial storms. When people feel threatened, it is also natural to search for sources of comfort and pleasure and the ownership of fine art provides that in spades, especially when compared to those visually dull pieces of paper known as stocks and shares.

The start of a year demands a backwards glance at events that rocked the world and for investors in art there were plenty of these to focus on, especially at the international salerooms. Amongst the notable successes at Christie’s were After the Flood: the exit of Animals from the Ark (1867)

by Filippo Palizzi (£265,250 achieved; estimate £150,000 £200,000) and Liebesfrühling by Franz von Stuck (£361,250 achieved; estimate £150,000 - £250,000) which set new world auction records for the artists. The same auction saw a surge in demand for 19th century masters, exemplified by Pommes Rouges by Gustave Courbet (which shot to a hammer price of £409,250 over its estimate of £40,000 - 60,000).

The Battle between Carnival and Lent by Pieter Brueghel II set a new world auction record (£6.8 million achieved; estimate £3.5 - £4.5 million) but that seems lowly compared to the record set for a George Stubbs painting: Gimcrack

on Newmarket Heath, with a trainer, a jockey and a stable lad had a huge estimate of £20 - 30 million and sold for £22.4 million. Over in its Paris venue, Christie’s confirmed a serious revival in enthusiasm for medieval works of art when a small, carved ivory group of a Madonna and child enthroned (approximately 15 inches) sold for £5.4 million after frenzied bidding propelled it way above its estimate of £840,000 - £1.6 million.

Paintings by L.S. Lowry have been highly sought after throughout the past decade with buyers prepared to pay up to £2 million to get their hands on one. However, The Football Match and a scene rarely painted by the artist, Piccadilly Circus, demanded record-breaking fees of £5.6 million each at Christie’s. Reflecting on the success of Christie’s sales in 2011, departmental head Philip Harley remarked that there was an “insatiable appetite for the best 20th century British and Irish art”, which could prove useful in deciding on 2012 investments.

At Bonhams it has been an historic year for Asian Art. In Hong Kong a three inch high miniature Chinese snuff bottle from the Emperor Qianlong period (1736-1795) caused huge excitement among bidders and left the art world reeling as the hammer descended finally on a phone bid of £2 million, five times its estimate. A sale of Japanese art at Bonhams in London produced a world record for an 18th century ‘netsuke’ or miniature carving (a shishi or lion dog), realizing £265,250. Records were smashed in the South African Art sale too, notably Irma Stern’s Arab Priest which sold for £3,044,000 - a world record for any South African artwork and for the artist. Russian Art claimed its fair share of the headlines too with Vasili Polenov’s He that is without Sin selling for £4.07 million.

Days before Christmas, the late Dame Elizabeth Taylor’s jewels added some glittering sparkle to the art world. By day two of Christie’s four day sale, the event had already been pushed into the record books as bidders around the globe clung to phone lines in desperate attempts to secure a piece of the Hollywood legend. Many succeeded, ensuring that even at its halfway stage, it had become the most valuable jewellery sale in auction history. Proof, indeed, that diamonds really are a girl’s, and an investor’s, best friend.

La Peregrina, a natural pearl, diamond ruby and cultured pearl necklace by Cartier Christie’s Images Ltd. 2011

Pieter Brueghel II, The Battle between Carnival and Lent, Christie’s Images Ltd. 2011

Carol Cordrey looks back at investments that rocked the art world in 2011 and predicts which countries are offering the best art to buy in during 2012, while Richard Brierley, head of fine wine at Vanquish Wine Ltd, spells out the top ten rules of wine investment

art & wine

connoisseur

Drink and Be Merry In running a bespoke and discreet service to private clients, connoisseurs and investors in the global market for fine and rare wines, Richard Brierley is well-placed to spell out the ten fundamental rules of wine investment.

1.Expertise Expert guidance allows a potential investor to make careful acquisitions by understanding the following drivers of market value.

2. Property (château/brand) The production of Bordeaux châteaux from the best vineyards are the most oft-traded stocks of fine and rare wines. Complement this strategy with the best producers from other regions that have a track record of increasing in value. Certain brands have also been able to expand their identity beyond one wine or one area of production; for example, Domaines Barons de Rothschild.

3. Vintage Each year’s weather produces varying quality of wines at a regional and individual property level. Invest in wines from the best vintages in each of the properties chosen. Some lesser vintages trade at a significant discount to perceived quality; they present exceptional value to investors as ‘property’ over-rides the vintage consideration and they are often less volatile in price.

4. Demand Demand for fine wine is global and is ultimately driven by consumption. An advisor who touches markets on a daily basis will see demand instantly and adjust investment strategy to such demand. Emerging markets are increasing demand for younger vintages and this has steepened the value curve of investment grade wines away from the traditional ten year timeline.

5. Value A balanced portfolio includes wines which have an underlying value proposition. While the very best wines have seen significant increase in price, many markets are turning to a second tier of value wines that hold value in

periods of price de-stabilization and grow more slowly but more predictably in value over the long term.

6. Track record Invest in the best wines of the top 20 châteaux, based on long term performance and investment track record.

7. Provenance The history of a wine’s ownership and storage conditions plays a fundamental role in its long-term value. Purchase wine from an approved group of suppliers and work closely with them to ship and store wine in the best possible conditions of humidity and temperature.

8. Scarcity The vineyard land of the best regions is of a finite size and boundary changes are rare. Many investment grade wines are produced on a very small scale and the supply is immediately insufficient for global demand. A significant increase in consumption leads to short-term shortages and long-term scarcity; only by being in the market every day and studying consumption and demand closely can one truly understand scarcity, as the market is not a transparent one.

9. Events There are a number of market events that can change the price of wines in a portfolio. These include ratings by influential critics and the release of new vintages to the market, as well as influential auctions or public tastings that can serve to effect the market perception of a given wine or vintage. When events of this nature arise, swift access to the market is needed to take profit from these events that can have either short-term or long-term effects on the price of individual wines.

10. Advice Whilst technology has made comparative price information available to any collector seeking to acquire investment grade wines, the research behind the price is a key factor that will protect your portfolio long term. Accurate information and candid advice on a timely basis should lead to a successful investment. n

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YOGA RETREAT

IDYLLIC ISLAND ESCAPE In the crystalline waters of the Golfo de Panama sits the unspoilt Pearl Island. Just a 25 minute flight from the vibrant Panama City, the level of luxury this private island promises makes it the perfect destination for those looking to invest in an exclusive second home overseas.

Boasting nearly 30 kilometres of spectacular coastline, 14 pristine private beaches shaded by virgin tropical forest and one of the most abundant marine and bird sanctuaries found on the planet, a limited number of eco-conscious

ECO ADVENTURE For an authentic taste of South and Central America, Adventure Life Journeys organises custom-built tours of Bolivia, Belize, Costa Rica, Ecuador and Peru led by local guides who are passionate about their culture. Designed with the most intrepid of travellers in mind, complete immersion into the heart of vibrant communities is guaranteed. Tour goers are encouraged to take the transport on offer, whether it involves buses or canoes, and settle down for the night in local accommodation, often with a conservational twist – one night, you might stay at a family run farm and another, a jungle cabana.

ocean view homes are being developed on the island’s most stunning enclave, each equipped with solar panels and natural ventilation.

Plans to build a luxury spa, 40 berth marina and a small airstrip to accommodate private planes and helicopters are also in the pipeline.

In keeping with the island’s eco-conscious ethos, 75 per cent of the landscape will remain undeveloped and a percentage of all property sales will go towards stewardship projects. www.pearlisland.com

Booking is now open for the Kempinski Hotel Barbaros Bay yoga retreat, coming to the beautiful Six Senses Spa this spring. Led by renowned practitioner and yoga teacher Julien Balmer, over six days guests will be initiated in the art of traditional Hatha Yoga through daily sessions and sun salutations designed to improved core strength and suppleness.

Meditation classes and spiritual cinema viewings, combined with a signature massage and access to the sauna, steam bath, indoor pool and the tempting aquamarine tides of the Turkish Aegean Sea, complete the holistic wellbeing package. www.kempinski.com

Travel Fact Of the double chain of 26 atolls and 1,192 islets that comprise the beautiful island nation of the Maldives, only 200 are inhabited.

Website of the month www.lovehomeswap.com With a huge array of stylish, luxurious homes dotted in 70 countries worldwide, this house-swapping site enables holidaymakers to track down a home away from home in any number of far flung destinations, from Costa Rica to New Zealand. Live like a local and enjoy privacy, creature comforts, and a high level of luxury.

www.adventure-life.com

Brought to you in association with Small Luxury Hotels of the World, an unsurpassable collection of over 500 hotels spanning 70 countries, which offer an infinite variety of experiences.

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Caribbean Odyssey Like the face that launched a thousand ships, the “Helen of the West Indies� has captivated visitors for centuries, its natural beauty so stunning that wars have been fought to lay claim to it. Olivia Sharpe visits Jade Mountain, camouflaged on the coast of St Lucia, and deems it the pinnacle of romantic destinations

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efore visiting St Lucia, it had always seemed the baby sister of the other Caribbean islands, not quite up for comparison, with Barbados in particular. However, after visiting the island in November, I realised that this certainly isn’t the case. St Lucia has become a destination hotspot, with thousands of tourists disembarking on its shores every year, and it’s not hard to see why. A melting pot of cultures and an unspoiled landscape of palm-fringed beaches and rainforest are bound to impress even the most travelled individuals.

To ensure the holiday of a lifetime, Jade Mountain has everything and more to offer. Rising magnificently above the 600-acre Anse Chastanet beachfront resort, it is situated in Soufriere, just 18 miles from Hewanorra International Airport. Pre-arrival concierge services can sort out any individual requirements; this includes airport transfers by car, or a helicopter for the more flamboyant.

Having opted for the modest car arrival, I was impressed by the unusual sight of a man-made, concrete mountain.

Innovative architect owner Nick Troubetzkoy has chosen to celebrate his love of St Lucia’s scenic beauty by seamlessly incorporating his design into the natural landscape using indigenous materials, creating “a cornucopia of organic architecture”. My friend and I were led to our personal sanctuaries by our “Major Domo”, whose attention to detail throughout our stay was faultless. Troubetzkoy has purposefully rid guests of out-dated hotel corridors and replaced them with a suspended sky bridge so that you feel as though you are floating on air. As I entered my suite, I was taken aback by the sweeping open space whereby bedroom, living area, infinity pool and the vast tropical waters have been combined in order to create the sense of sleeping in harmony with nature.

The room’s décor further brings the outside world in, with hardwood floors, wicker chairs and a palette of earthy hues, not to mention a non-existent fourth wall. The room was equipped with four-poster beds, ‘his and hers’ sinks and a two-person Jacuzzi bath, complete with ‘in tub’ mood lighting. However, Jade Mountain has purposefully chosen not to provide radio or television, and there is only limited phone or internet access – so be warned, Smartphone junkies.

The rooms’ ratings have been tiered into five packages: Sky, Star, Moon, Sun, and Galaxy, according to the room’s position and size. Guests who opt for the top-rated Galaxy sanctuaries will experience the most commanding panoramic views, plus the biggest square footage.

If you’re looking for a truly relaxing experience, head straight to Kai en Ciel, Jade Mountain’s own luxury boutique spa. I decided to pamper myself with the deluxe spa manicure; this involves your hand being swathed in a paraffin wrap for ten minutes while you receive a neck and scalp massage to help to alleviate stress. Although a strange sensation, it was without a doubt a first-rate manicure, ensuring that my nails didn’t chip for the rest of the holiday.

Along with the many pampering experiences on offer, we could also enjoy a variety of facilities available at sister resort, Anse Chastanet, to ensure that we never got bored,

connoisseur

including water sports, tennis, and mountain biking. Jade Mountain also has its very own Cybex Fitness Studio where complimentary fitness options and yoga classes are provided, as well as privately arranged lessons (if you don’t fancy bending and stretching in front of strangers).

After enjoying an indulgent cocktail on the Celestial Terrace overlooking the breathtaking St Lucian sunset every evening, my taste buds were stimulated by local produce and tropical flavours created by celebrated Head Chef, Allen Susser. My favourites on the menu included the St Lucian kingfish, which was cooked beautifully medium rare, and the divine lobster-crusted snapper served with pesto-roasted garden vegetables and Bok Choy. If you want to try a bit of everything, opt for the special tasting menu.

Children under 15 aren’t allowed to stay at the resort and so things like evening meals and pool time can be enjoyed without the disruption of young ones enjoying themselves at high volume levels. However, if you desire an even more intimate setting, choose to dine in your own private sanctuary, where you can have a one-hour cooking demonstration or the gourmet dishes prepared in front of you by the chef.

Jade Mountain and Anse Chastanet have been specially designed to encompass everything you could possibly require but if, like me, you find that such idleness on holiday should only be sought as a reward from exertion, venture outside the resort and experience a wealth of activities that the island has to offer to keep your guilt at bay. Be sure to pack your hiking boots as St Lucia’s mountainous region provides walker enthusiasts with great trails up the Pitons, two volcanic plugs which form the island’s most famous landmark. Jade Mountain organises special tours up Gros Piton Mountain so all you have to do is worry about actually climbing it.

Thrillseekers looking for adventure but without sore feet can experience St Lucia’s beauty with a ride on a worldclass zipline course, which ensures exposure to the most spectacular views.

If hiking or flying through the air at top speed seems a little bit too strenuous, visit the tropical Mamiku Gardens, located on the east coast, or for the ultimate pampering experience, don’t miss a trip to the sulphur springs located in the only “drive-in” volcano in the world, another local attraction in close proximity to Jade Mountain.

With the best time to go from this month until April, when London’s weather is at its most dreary, book now for an unforgettable, romantic experience. n

Architect Troubetzkoy has purposefully rid guests of out-dated hotel corridors and replaced them with a suspended sky bridge so that you feel as though you are floating on air

www.jademountain.com

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British Airways operates daily flights from London Gatwick to St Lucia, with prices starting from £644 (as of January 2012). This includes a generous free baggage allowance, complimentary onboard drinks and snacks and your choice of seats. Flights can be booked online at www.ba.com.

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Destination...

Copenhagen Repeatedly recognised as a city with one of the best qualities of life in the world, Copenhagen is a wonderful place to experience Danish society, culture and cuisine. Olivia Sharpe explores Where to Stay:: Nimb Hotel Nimb Hotel (www.tivoli.dk) is a luxury boutique hotel in the heart of Copenhagen.With a magnificent Venetian marble façade facing the Tivoli Gardens, the hotel possesses just 14 rooms and suites, making it an intimate and exclusive place in which to reside during your visit. The rooms possess every modern luxury you could require, including the latest Bang & Olufsen technology and wireless internet, as well as additional, more homely features such as antique furniture, a birch wood fireplace and an extravagant four poster bed. One of the best features, in our opinion, is the gourmet Herman restaurant, run by Executive Chef Thomas Herman; the menu comprises delicious, traditional Danish dishes with a twist.

Where to Eat::: Noma The two Michelin star restaurant Noma (www.noma.dk), run by chef René Redzepi, was impressively ranked as the Best Restaurant in the World by Restaurant in both 2010 and 2011.

Just by translating the name, you can get an idea of what to expect from a visit to this innovative restaurant; an acronym of the Danish words ‘Nordisk’ (Nordic) and ‘Mad’ (food), the restaurant is renowned for its reinvention and interpretation of Nordic cuisine. To match the unusual and quirky cooking, the restaurant is located in an old warehouse on the waterfront in the Christianshavn neighbourhood of central Copenhagen.

From top to bottom: Nimb Hotel at night-time; houses in the Nyhavn district; an old red windmill; Nimb Hotel terrace; Christiansborg Palace on the Islet of Slotsholmen; Nimb Hotel

What to See:: The Church of Our Saviour and Kronborg Castle in Helsingør The Church of Our Saviour (Vor Frelsers Kirke) is a baroque church, famous for its corkscrew spire and the external winding staircase that can be climbed to the top, not to mention the spectacular views over central Copenhagen. For lovers of literature, a visit to Kronborg in Helsingør is another must; the striking Renaissance castle and monumental military fortress is also known by many as “Elsinore”, the setting of William Shakespeare’s famous royal tragedy Hamlet, Prince of Denmark. Make sure to see the grand, stately ballroom and the castle dungeons on your visit.

Don’t Miss:: the Latin Quarter For music lovers, a visit to Copenhagen cannot exclude an outing to the Latin Quarter where a fashionable jazz music community has been established. A neighbourhood that is more than 500 years old and built around the University of Copenhagen, the Latin Quarter possesses tiny streets that are filled with second-hand bookstores, trendy boutiques, eclectic music stores, jazz clubs and a candy factory that offers tours of its facility. Explore and enjoy at your leisure. n

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British Airways operates two flights per day from London City Airport to Copenhagen, with prices starting from £66. This price includes a generous free baggage allowance, complimentary onboard drinks and snacks and your choice of seats. Flights can be booked online at www.ba.com.

LONDON CITY TO COPENHAGEN From £66 one way Book now at ba.com/londoncity

Our check-in takes just 15 minutes.* So you’ll spend less time sitting around.

To Fly. To Serve.

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net worth Don’t short-change yourself invest in some very un-taxing luxury

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www.slh.com our job is to make you forget about yours.

12/10/2011 17:10

The luxury of

Escapism

If the hustle and bustle of the city is becoming too much and you don’t have the luxury of your own country bolt-hole to which you can escape, ‘Gems’ and ‘Cribs’ of the Cornish variety may be just the ticket for you. Vicky Shaw county-hops from London to Cornwall for two idyllic long weekends away

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hree words: worth the journey. Cornwall may feel like a long drive away (250 miles, to be exact) but given that we’re prepared to travel double (Zurich), triple (Florence) or 14 times (New York) that for breaks abroad, this doesn’t seem so unreasonable. Stock up on petrol and snacks, load the iPod with sing-a-long-friendly albums and bundle family or friends into cars for a road trip through England’s green and pleasant land; namely, Berkshire, Wiltshire, Somerset and Devon, as this is the journey you’ll need to undertake to reach the beautiful coast and countryside of Cornwall.

Cornish Gems are luxury holiday specialists but the company also has a portfolio of equally luxurious holiday homes in the same area under the sub-brand Cornish Cribs. For the former, visit Trugo Farm, perfect for family-friendly trips with younger children and in-laws; for the latter, head to The Edge for ultimate relaxation with friends.

Home on the Range Cornish Gem Trugo Farm is a substantial farm house which was originally part of the vast Lanhydrock estate, nestled in the countryside and close to the North Cornish coast.

A local I ask tells me that the population of the parish was 171 in the 2001 census (so any worries I had about having nosy neighbours are dispelled) and, a good piece of trivia, that the main house of the estate was used as the set for the 1996 film version of Twelfth Night directed

by Trevor Nunn, and starring Helena Bonham Carter.

Trugo Farm, a pretty stone farmhouse accessed via a long driveway through acres of gloriously English land, has enough parking for three or four vehicles – very handy if family subsections are arriving separately, as ours were. Justwalking-baby in tow, and small children en route, we were pleased to see lots of soft furnishings and a children’s den in the attic (much appreciated by those under ten). The ground floor includes the large kitchen and breakfast room and two sitting rooms, which suited us perfectly as board games, drinks and DVD watching could take place concurrently.

Foodies will be able to make the most of the well-equipped kitchen, with all the requisite mod-cons, and we loved the Villager log burner in the main living room; with the British weather, this could in theory be used for much of the year. I was more than happy to switch off my phone and abandon my laptop but if you’re not, WiFi broadband is available (“Thank God”, was the husband’s response).

With six bedrooms and four bathrooms, there is plenty of space for the smaller family groups to be accommodated together and to have their own bathroom.

The ground floor bedroom, with garden views, also comes with a baby changing table in the bathroom. Two separate staircases leading upstairs allow for a bit more privacy, comprising five further bedrooms and three bathrooms; our kids loved the bunk beds in the fifth bedroom (and its flatscreen TV – not allowed in their room at home) and the rocking horse in the sixth.

In the summer, you must take advantage of the large gardens; my visit occurred as the weather turned cold, though, so we mainly used them for playing with our dog (dogs are welcome which is a big plus in a UK-based rental property – who wants to pay for kennels when you’re not actually leaving the country?) There’s an outdoor dining area with a barbeque

and enormous table. The utility area proved useful for wellies (and dog) post muddy walk, as did its washing machine, tumble dryer and (crucially) wine fridge.

Although you may be satisfied with staying cosy inside, cooking up a storm and enjoying a glass or few of wine, there is much to explore in the local area. Mawgan Porth, Watergate Bay and Newquay are all very close by, offering excellent restaurants and swathes of sandy coastline; who says you have to go abroad to enjoy beautiful beaches? Trugo Farm is also fairly close to Newquay Airport (less than ten minutes drive) if you’d rather fly from London. Further up the North coast are Padstow, Constantine Bay, Harlyn, Trevone, Rock and Polzeath; all great places for days or afternoons out.

Trugo farm Trugo Farm is available to rent through Cornish Gems Luxury Holiday Homes. Weekly prices range from £749 to £2,598 and short breaks are available from October through to Easter (two night breaks start from £699).

Luxury white linen and towels are provided along with a welcome gift for each guest arrival. For further information visit www.cornishgems.com or call 0844 800 281

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Living Life on the Edge

The edge The Edge is available to rent through Cornish Gems Luxury Holiday Homes. Weekly prices range from £841 to £3,738.

Luxury white linen and towels are provided along with a welcome gift for each guest arrival. For further information visit www.cornishgems.com or call 0844 800 2813.

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While Trugo Farm may well be a Cornish Gem, The Edge is a ‘Cornish Crib’, implying to me that it’s maybe a kind of younger, cooler sister to the Gem (perhaps after having MTV’s Cribs inflicted on me by teenagers). Every single one is original in its design and appeal, says the website, and I find out that in Cornish, ‘crib’ signifies the meaning for a miner’s ‘break’. Well, we certainly needed a break as we drove out of London, away from work and the stresses of the city, under the proviso of celebrating a friend’s engagement while also catching up with each other.

None of us, bar one, had visited the area before and so, driving through dark, winding country lanes, we had no idea about the gorgeous view we would wake up to. We could nonetheless see that The Edge was newly built – and ‘reversed-level’, I am told – with plenty of floor-to-ceiling windows and as we had to drive up part of a hill to get to it, we began to picture a pretty special day-time view.

Gratefully clattering in late, after a rather epic drive, The Edge, in Polzeath, immediately came across as stylish, modern and immaculate – a muted colour palette, smart wooden floors, huge windows – but not in a way that excluded a feeling of comfort and cosiness. Shoes were kicked straight off and the complimentary welcome hamper was most welcome; as we didn’t bother to shop for food, preferring to wait until the morning to explore, we were ravenous and devoured the Cornish treats (as well as the thoughtfully chilled champagne).

With morning came breathtaking views across Polzeath and its golden sandy beach. Three of the bedrooms have sea views so I was able to prop myself up in bed and stare out at the sea: beautiful. In addition to the three bedrooms, there’s a separate snug with two sofas, one of which turns into a very comfy sofa bed, with a flat screen TV and a wet room opposite so it’s perfect for any guests who’d prefer a little distance from the rest of the crowd.

The early risers headed down to the Spar for provisions; just a five minute walk, and right by the beach, it’s easy to find and well stocked (but do expect it to be dearer than supermarket prices). Even though it was autumnal, the sun was up, shining weak beams onto the balcony, so we threw open the doors to enjoy the airy, bright feeling. The Edge has been cleverly designed to ensure the rooms take full advantage of the panorama: the front elevation features a vast expanse of glass that provides a gorgeous view from the lounge, kitchen and dining room.

In fact, we spent a lion’s share of our time in the kitchen and dining room – cooking, chatting, drinking and enjoying each other’s company. As you’d expect, the kitchen is very well equipped; double electric oven with plate warmer, five ring induction hob, integral steam oven, microwave, fridge/freezer and dishwasher. Particularly useful were the ice dispenser (for juice or cocktails) and, instead of a kettle, the boiling water tap (although be warned: it is very hot!)

The integral music system is fitted throughout the open plan spaces so there was much merriment as we played our current favourite albums at full volume – best of all without disturbing any neighbours. The wood burning stone was also a highlight, especially when the cold nights drew in.

My advice? Stock up the fridge, put on some music, light the fire and settle down for a lovely, relaxing evening of food and drink with friends. n

The official site for East London

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venue for your next annual conference, a restaurant for an important client dinner, luxury hotel for an overnight stay, or simply ideas of what there is to see and do

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in this diverse and emerging quarter of the capital, you’ll find out at

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Ex AL qu E isi s SA te wi tar VE nes, ts 4 up mea th to ning Jan 40 ful s ua % avin ry gs

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Step back in time at London’s oldest wine merchant. A vast selection of fine wines and spirits in a unique historical setting.

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Three of the Best for...

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Oysters Catch @ ANdAZ Hotel Catch is situated in the plush ANdAZ Hotel, a beautiful venue housed in a historic redbrick Victorian building. At Catch there is a tremendous emphasis on sustainability and the types of oyster to be found there provide new options for even the most seasoned gourmand. There is an adventurous kitchen to boot, with offerings including barely cooked oysters in crisp tempura batter as well as large, creamy English Maldon varieties, paired with peppery slices of chorizo.

Massimo

Chinese New Year 23 January 2012 marks the departure of the Year of the Rabbit and the exciting commencement of the Year of the Dragon. Chinese New Year is the most important Oriental festival and the colourful street celebrations include lion dancers, martial arts and various musical acts. This year promises to be extra special as it is officially the 60th anniversary of London Chinese New Year festivities.

To experience the very best of Chinese cuisine,

head to the vibrant Royal China in Canary Wharf at 30 Westferry Circus, with fantastic views over the river and authentic Chinese cuisine. The Royal China Club is great if you’re interested in seafood cuisine; the Royal Dragon is one of the oldest Chinese restaurants, in the heart of Chinatown; and the Four Seasons has the most exquisite roasted duck London has to offer.

Massimo is one of London’s newest oyster bars and, with its stunning grand dining room adorned with great globular chandeliers, imposing striped marble columns and delicious seafood, it is bound to make a strong impression. At the dedicated oyster bar a set menu is served, comprising a trio of British Isle oysters, followed by raw scallops, a fregola and shrimp main in lemon sauce and finished off with a walnut and pear tart.

www.royalchinagroup.co.uk

East London Wine School Wine lovers will be excited to hear that a new wine school is opening just by the Tower of London. The school is the brainchild of wine veteran Ian Bentley, who has become a recognised name in the field following a 20-year stint as a food and drink buyer for major supermarkets, as well as a slot as a judge at the prestigious International Wine Challenge at London’s Barbican.

The school offers a variety of courses designed for every level of knowledge, whether you’re a connoisseur looking to learn more or a beginner getting to grips with the basics. What better way to spend your time than learning to taste wine?

Choose from an eight-week course, an introductory evening tasting, an all-day Saturday champagne tasting with lunch or a fine wine evening. www.localwineschool.com

Hix Oyster and Chop House Situated just a stone’s throw from Smithfield’s market, Hix skilfully blends together surf and turf in one menu; if you so desire, you can sample both beef flank and oyster pie. The menu also offers some more traditional options and you can try Duchy natives, Colchester rocks and Carlingford Lough rocks depending on availability, as well as oysters accompanied with a specialist spicy sausage. Smoked salmon cured in the chef’s garden is also a must-have.

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restaurants

bars

American

Italian

Hawksmoor

157 Commercial Street, E1 020 7247 7392

Lena

66 Great Eastern Street, EC2A 020 7739 5714

5-6 Carey Lane, EC2V 020 7600 2720

British

Refettorio

Varnishers Yard Regents Quarter, N1 9FD 020 7841 7331

Canteen

19 New Bridge Street, EC4V 020 7438 8052

Beach Blanket Babylon

9 Norwich Street, EC4A 020 7831 1622 or 020 7831 1677

2 Crispin Place, E1 08456 861 122

Volupté

19-23 Bethnal Green Road, E1 020 7749 3540

Oriental

Bar Pepito

The Big Chill Bar

Dray Walk, E1 020 7392 9180 Bonds

14 New London Street, EC3R 020 7264 1910

Royal China Club

40-42 Baker Street, W1U 020 7486 3898

5 Threadneedle Street, EC2R 020 7657 8088

GREENS

14 Cornhill, EC3V 020 7220 6300

Saki

4 West Smithfield, EC1A 020 7489 7033

59 West Smithfield, EC1A 020 7796 0600

French

Mexican

Gilt London

Cellar Gascon

Cicada

Green & Red

5 Threadneedle Street, EC2R 020 7657 8088

51 Bethnal Green Road, E1 020 7749 9670

132-136 St John Street, EC1V 020 7608 1550

Coq D’Argent

Middle Eastern

Andaz Hotel, Liverpool Street, EC2M 020 7618 7215

Bonds

No.1 Poultry, EC2R 020 7395 5000 Les Trois Garcons

1 Club Row, E1 020 7613 1924 Sauterelle

Royal Exchange, EC3V 020 7618 2483

Gastropub Duke of Cambridge

30 St Peter’s Street, N1 020 7359 3066 The Peasant

240 St. John Street, EC1V 020 7336 7726

Greek Mezedopolio

14 Hoxton Market, N1 020 7739 8212

Kenza

10 Devonshire Square, EC2M 020 7929 5533

Modern European

CATCH & Champagne Bar

The Gherkin Bar & Restaurant

Levels 39 & 40, 30 St Mary Axe, EC3A 020 7071 5009 Grand Café & Bar

Magdalen Restaurant

The Courtyard, Royal Exchange, EC3V 020 7618 2480

One Lombard Street

5 Abchurch Yard, EC4N 020 7623 2355

Rhodes Twenty Four

233 Shoreditch High Street, E1 020 7247 8989

152 Tooley Street, SE1 020 7403 1342

1 Lombard Street, EC3V 020 7929 6611 Tower 42 Old Broad Street, EC2N 020 7877 7703

Smiths of Smithfield

67-77 Charterhouse Street, EC1M 020 7251 7950

Spanish Camino

3 Varnishers Yard, N1 020 7841 7331 Moro

34-36 Exmouth Street, EC1R 020 7833 8336

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Balls Brothers

Harry’s Bar

Light Bar

Match EC1

45-47 Clerkenwell Road, EC1M 020 7250 4002 Ortega

27 Leadenhall Market, EC3V 020 7623 1818 Vertigo 42

Tower 42, 25 Old Broad St, EC2N 020 7877 7842 The Worship

Triton Court, 14 Finsbury Square, EC2A 020 7330 0920

food & drink

connoisseur

A Cut Above Sublime steaks, distinctive décor and a definitive nod to the more luxurious side of life is served up with punch and panache at CUT, The Dorchester Collection’s new, hotlyanticipated steak restaurant, says Neil Ridley

W

hen it was reported that AustrianAmerican super-chef Wolfgang Puck was to open his latest culinary venture in London, steak enthusiasts from across the country collectively began to salivate. CUT, the new fine-dining restaurant located at The Dorchester Collection’s 45 Park Lane hotel, is indeed a mouth-watering proposition. Housed in a capacious ground-level hall with a distinctly Art Deco-feel by designer Thierry W Despont, Puck and his executive chef David McIntyre have created what purports to be the ultimate in steak experiences, following on from a string of successful eponymous bar and grill style restaurants across America.

Although the menu undoubtedly has a meat-heavy focus, there is a real balance to the dishes on offer – testament to the premise that every great restaurant needs some light and some shade. Starters such as the heirloom apple salad,

bought a refreshing star turn to the proceedings, with a simple but hugely flavoursome mix of crisp apple, red endive, dates, Marcona almonds and salty Montgomery cheddar. But setting oneself up with something that looks and tastes decidedly healthy is probably a tad foolish when it comes to the main attraction. The steaks, ranging from a 28-day-aged Devonshire filet mignon to a top-of-the-range Black Angus New York steak, are artistry in themselves.

The cuts are grilled over hard wood and charcoal to obtain a melt-in-the-mouth centre and finished under a 650-degree broiler to intensify their gentle smoky flavour. The whole package, when coupled with some superb hand-cut chips, divinely light tempura onion rings and the house steak sauce, is pretty faultless.

As an added bonus, the instantly likeable and highly experienced sommelier, Vanessa Cinti, made some perfect wine pairings from a list which proudly echoes Puck’s Austrian-Californian influence, including a big, bold Stag’s Leap Cellars 2007 Artemis from the Napa Valley.

The dessert selection does wonders for that long forgotten New Year’s resolution of a gym membership.

Puck’s signature sweet is a complex and luxuriously silky Banana Cream Pie, which is liberally drizzled in ‘ten year’ chocolate sauce; so named because apparently it took the pastry chef ten years to perfect. With desserts this good, one can only imagine how much fun the previous nine years must have been.

In essence, CUT has taken the gutsy, often overly masculine domain of the steak restaurant and turned it into a culinary dream for those in search of a more refined side to gourmet meat. The sharp end of London’s steak restaurants just got sharper. n www.45parklane.com

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out about

Fireworks and fun for all Hailed by Philip Pullman as “one of the best productions of my work I’ve ever seen”, the Birmingham Stage Company has brought its charming production of The Firework-Maker’s Daughter to London. The play, an adaptation of one of Pullman’s earliest works, tells the story of Lila, whose dreams of becoming a firework-maker are dashed when her father tells her it is no job for a girl. Pullman, best known for his hugely popular His Dark Materials trilogy, declared, “What a great cast! What musical talent as well as charm and stage presence!” We agree: this is a colourful, entertaining evening for the whole family (children aged 4+).

Bloomsbury Theatre 14 December 2011 – 21 January 2012 Call the box office on 020 7388 8822 or book online at www.thebloomsbury.com

Sam Taylor-Wood

Men in Motion The Guardian described Putrov’s performance in Men in Motion as “an enthralling synthesis of physical sensation and emotional revelation” and it wasn’t wrong. The male form in all of its beauty will be revealed on the Sadler’s Wells stage this January by the Royal Ballet Principal and he will be accompanied by sensations Sergei Polunin, National Dance Award-winner Daniel Proietto, Dmitry Gudanov and Igor Kolb. The performance will be conducted by Richard Bernas and performed by a live orchestra. Completing the show’s line-up is Russell Maliphant’s Afterlight (Part One) and Nacho Duato’s Remanso, overall placing the artistry of the male dancer firmly in the 21st century.

27 – 29 January 2012 www.sadlerswells.com

Rise Art Rise Art is a simple and inexpensive way to discover and collect artwork from talented artists. Rise Art’s online gallery features a constantly rotating roster of Select Artists, as chosen by the Rise Art community and Rise Art’s International Board of Curators. The website enables consumers to directly connect and engage with the artists and their work online, and presents an exclusive gallery of curated works by Rise Art Select Artists.

The limited edition prints are the perfect gift for anyone looking to enhance their home and living environment, from young professionals decorating their first flat to couples who have recently become first time buyers. With editions starting from as low as £50, there is something for everyone. Rise Art also provides bespoke framing services and art rentals on higher priced items. www.riseart.com

out & about

connoisseur

place your bets

Landscape Photographer of the Year 2011 Robert Fulton - Winter Field, Stirlingshire, Scotland

Heighten the thrill of horseracing by investing in a racehorse. Inner Circle Thoroughbreds is a new syndicate company run by Channel 4 Racing’s Jim McGrath and fellow ex-Timeform Director Peter Bell. Inner Circle is offering shares in two racehorse syndicates from £9,995 per share. The City readers joining by 31 March 2012 will receive a free Inner Circle jacket made by Musto which normally retails at £125.

For more information, call 07989 402111 or visit www.innercirclethoroughbreds.com

Picture Perfect lighting up the South Bank with a wonderful selection of British landscapes. Jim Carter, released from his duties at Downton Abbey, presented the Landscape Photographer of the Year 2011 award and a £10,000 prize to Scotland’s Robert Fulton for his beautifully lit image of a winter field in Stirlingshire. Tickets are priced at £8.

The National Theatre Until 28 January 2012 www.nationaltheatre.org.uk

MAT / Shutterstock.com

The annual competition for Landscape Photographer of the Year is taking place at the National Theatre where visitors can work their way through more than 100 photographs capturing the UK’s stunning natural beauty. Such breathtaking scenes are bound to inspire your next countryside adventure in the year ahead. The crisp, clear weather was perfect for the projection of winning images onto the massive exterior wall above the National Theatre,

The Ladykillers The 1955 film version of The Ladykillers, starring old Hollywood greats Alec Guinness and Peter Sellers, is still a much-loved classic but the stage version at the Gielgud Theatre which features a star-studded comedy cast including Peter Capaldi (The Thick Of It), James Fleet (The Vicar Of Dibley), Ben Miller and Stephen Wight, is already a huge success, with the actors most certainly up to the comedic challenge. The Ladykillers tells the story of eccentric old lady Mrs Wilberforce whose life is hilariously turned upside down by the arrival of Professor Marcus and his friends, who make up a most unlikely group of criminals. However, the Professor’s plan starts to unravel in a superbly black comedic fashion.

The Gielgud Theatre Until 14 April 2012 www.gielgud.official-theatre.co.uk

Midnight Tango “Sexy, sultry, brilliant, breath-taking”; “a sizzling display of explosive tango routines”; “Strictly sensational!”; “a fiesta of dramatic dance, beautiful costumes and sublime music”. These are just some of the rave reviews that have poured in from press who cannot get over the brilliance that is the dance spectacular Midnight Tango. Having enthralled audiences on a record-breaking UK tour, stars of the BBC’s Strictly Come

Dancing Vincent Simone and Flavia Cacace bring their live show into London’s West End. The former World Champions are joined by ten of the world’s finest tango dancers, plus an internationally renowned tango band with a sizzling production that fuses dazzling choreography with intoxicating tango rhythms.

Most definitely not to be missed, book now for the show which opens on 20 January. www.midnighttango.co.uk

119

LONDON Homes&

PROPERTY Showcasing the finest homes in your area

C o v e r i n g CANARY WHARF, D OC K L AN D S , WA P P ING & T h e C i t y

A FRESH START

2012 Predictions

Something Special

A FABULOUS NEW DEVELOPMENT

LONDON Homes&

PROPERTY Editorial Director Kate Harrison

Editor

Emma Mills

Assistant Editor Gabrielle Lane

Head of Design Hiren Chandarana

Brand Consistency Laddawan Juhong

Designer

Ashley Lewis

Production Manager

january

Welcome note...

W

elcome to the January issue of London Homes & Property magazine where we’re hearing that the London housing market continues to prove unique and inspiring. The last quarter of 2011 was a successful one for both landlords and homeowners according to our experts (p. 151) and predictions suggest that 2012 will also be a positive one (p. 162).

The Square Mile itself is one of the areas on the wish lists of potential buyers. No longer just a financial district, the City and neighbouring Camberwell are luring investors with their fashionable vibe, Michelin-starred eateries and many bars and clubs (p. 124).

With this in mind our Development Focus (p. 158) showcases a beautiful converted school building in the area, complete with stunning architecture and a suitably high-spec finish. It just might be the new home you’ve been looking for!

Happy Hunting!

Fiona Fenwick

Production

Hugo Wheatley

Senior Property Manager Samantha Ratcliffe

Finance Manager Elton Hopkins

Managing Director Eren Ellwood

RUNWILD M

E

D

I

A

G

R

O

U

P

7 Heron Quay, Canary Wharf London E14 4JB T: 020 7987 4320 F: 020 7005 0045 info@londonhomesandproperty.com www.londonhomesandproperty.com Runwild Media Group cannot accept responsibility for unsolicited submissions, manuscripts and photographs. While every care is taken, prices and details are subject to change and Runwild Media Group take no responsibility for omissions or errors.

We reserve the right to publish and edit any letters. All rights reserved.

LONDON HOmes&

PROPERTY ShowcaSing the fineSt homeS in your area

c o v e r i n g c a n a ry w h a r f, D o c K L a n D S , wa P P i n g & t h e c i t y

A FRESH START

2012 Predictions

Something Special

A FABULoUs neW deVeLoPMent

© Natuzzi www.natuzzi.co.uk

contents 124

156 living local

124 Area News 151 State of the Market

158

new homes

156 Property Latest 158 Development Focus 162 Expert Comment

living local

areanews

By Richard Brown

A Place to Work, Play and now Live If you ply your trade within the Square Mile but commute out of the area at the end of every day, you could be forgiven for thinking that the City transforms into a ghost town once all of its workers have headed home.

While that may have been true a decade ago, it no longer remains the case, as research by Knight Frank goes to prove. While the City’s residential community has been growing gradually over recent years – its permanent population now stands at 11,000 – so too has its reputation as a vibrant and desirable place to live; the area has joined the property rich list of prime central London locations which include Mayfair, Knightsbridge, Belgravia and St John’s Wood, and properties which boast EC postcodes now regularly feature within the high-end portfolio of upmarket estate agents.

The City might remain first and foremost a financial district but it now boasts Michelinstarred restaurants, luxury fashion boutiques and high-achieving schools. Similarly attractive is

Clerkenwell, which, as Europe’s largest media hub, has become an area synonymous with fashionconscious creative types.

Unsurprisingly, as the popularity of living in the areas has increased, so too has the cost of doing so. To live in The Heron, for example, a Moorgatebased 36-storey glass tower set for completion in 2013, you’ll pay a minimum of £495,000 for a one bedroom apartment, while to secure a loft-like space at Tapestry, opposite Liverpool Street, you’ll be needing to spend more than £1 million.

Transport latest…

The City celebrates Dickens

If you negotiate the Square Mile by car then you’ll be pleased to know that you can now pay for your on-street parking by mobile phone in 84 locations across the City. The PayByPhone service is a secure payment method and an alternative to the traditional method of using the area’s Pay & Display machines. If you’re using the service for the first time, you’ll need to register your vehicle registration number and payment card details either by phone or by using the PayByPhone app.

2012 marks the 200th anniversary of Charles Dickens’s birthday and the Museum of London will be marking the date with a special show dedicated to the famous author. Recreating the atmosphere of Victorian London through sound and projections, the museum will showcase paintings, photographs, costumes and objects which illustrate the themes that Dickens wove into his works.

www.paybyphone.co.uk

Did you know?

That it takes 61 seconds to open London’s Tower Bridge, which opens an average of 1,000 times a year.

Sport in the Square Mile After a year of renovation work, the iconic Grade II listed Golden Lane Leisure Centre reopens this January.

The new centre will feature the original 20 metre four lane pool, sports hall and studio, as well as two outdoor courts for tennis, netball,and short tennis, for children. Located in Fann Street (EC1Y 0SH), the centre now boasts a gym housing 38 exercise stations and a treatment room. Golden Lane Leisure Centre is managed on behalf of the City of London Corporation by Fusion Lifestyle, a registered charity which manages sport and recreation facilities across the country.

125

Wood Wharf, Greenwich SE10

Galaxy Building, Isle of Dogs E14

Two bedroom duplex penthouse in excellent condition with fantastic river views towards Canary Wharf. 2 bedrooms, 2 bathrooms, open plan kitchen reception room, daily porter and private parking. Approximately 124 sq m (1,338 sq ft)

A large one bedroom apartment on the 8th floor of this portered development. 1 bedroom, 1 bathroom, open plan reception, kitchen, balcony with River Thames views and parking. Approximately 65 sq m (704 sq ft)

Leasehold

Leasehold

Guide price: £650,000

Guide price: £325,000

KnightFrank.co.uk/Canary-Wharf

KnightFrank.co.uk/Canary-Wharf

020 7512 9966 cwharf@knightfrank.com

Wingfield Court, Blackwall E14

020 7512 9966 cwharf@knightfrank.com

Dunbar Wharf, Limehouse E14

Well proportioned two double bedroom apartment situated in Virginia Quay. It is brought to the market in good internal order and has a balcony and concierge. Approximately 87 sq m (936 sq ft)

A much sought after two bedroom riverside apartment. 2 bedrooms, 2 bathrooms (1 en suite), reception room opening onto large balcony, separate kitchen, porter and private parking. Approximately 102 sq m (1,098 sq ft)

Leasehold

Share of Freehold

Guide price: £350,000

Guide price: £750,000

KnightFrank.co.uk/Canary-Wharf

KnightFrank.co.uk/Canary-Wharf

020 7512 9966 cwharf@knightfrank.com

CW and City Jan 2012 Advert SALES - 12 December 2011 - 15664

020 7512 9966 cwharf@knightfrank.com

16/12/2011 10:24:13

C

St Davids Square, Isle of Dogs E14

Delightful river views

Light and bright apartment in the popular development St Davids Square. Master bedroom with en suite bathroom, 2 further bedrooms, family bathroom, good size reception room with access to a private balcony, fully integrated kitchen. Other benefits include protected parking, a 24 hour concierge and full leisure facilities including a pool, gym and sauna.

Approximately 89 sq m (964 sq ft) Leasehold Guide price: £500,000

KnightFrank.co.uk/Canary-Wharf cwharf@knightfrank.com 020 7512 9966

Goodhart Place, Limehouse E14

Fantastic living space

A well presented and light three bedroom apartment offering flexible living space. The lower floor comprises a kitchen diner, separate dual aspect dining room and reception room as well as a guest WC. Upstairs the bathrooms (one of which is an en suite to the master bedroom) have been newly refurbished and have underfloor heating. Additionally there is well insulated loft storage and a garage. Approximately 135 sq m (1,462 sq ft) Leasehold Guide price: £635,000

KnightFrank.co.uk/Canary-Wharf cwharf@knightfrank.com 020 7512 9966

CW and City Magazines Jan 2012 Advert 2 SALES - 13 December 2011 - 15697

16/12/2011 13:00:31

Knight Frank

Naxos Building, Canary Wharf E14

St Davids Square, Isle of Dogs E14

A contemporary two bedroom penthouse offered fully furnished and including a balcony and terrace with river views. 2 bedrooms, 2 bathrooms, fully equipped kitchen separate utility room, reception with floor to ceiling windows.

The development includes 24hr concierge and a gym.

Well presented two bedroom apartment to let in St Davids Square. In brief, the accommodation compromises 2 bedrooms, 1 bathroom, separate fully fitted kitchen, reception, parking space, leisure facilities. This apartment is offered furnished.

£995 per week Canary Wharf Lettings KnightFrank.co.uk/Lettings 020 7512 9955 cwharf@knightfrank.com

£355 per week Canary Wharf Lettings KnightFrank.co.uk/Lettings 020 7512 9955 cwharf@knightfrank.com

Undine Road, Canary Wharf E14

Pierpoint Building, Canary Wharf E14

Spacious and well presented two bedroom apartment to let in Clippers Quay. In brief the accommodation compromises 2 bedrooms, 2 bathrooms, a fully fitted kitchen, reception with wood floors, balcony with dock and garden views. This apartment is offered furnished.

A luxury two bedroom apartment on the first floor, offering river views across gardens. 2 bedrooms, 2 bathrooms (1 en suite), separate kitchen. Full use of on-site leisure facilities and 24 hour porterage.

£385 per week Canary Wharf Lettings KnightFrank.co.uk/Lettings 020 7512 9955 cwharf@knightfrank.com

£475 per week Canary Wharf Lettings KnightFrank.co.uk/Lettings 020 7512 9955 cwharf@knightfrank.com

Knight Frank

New Providence Wharf, Isle of Dogs E14 Boardwalk Place, Canary Wharf E14 Boardwalk Place, Canary Wharf E14 E14 E14 New Providence Wharf, Isle of Dogs E14 New Providence Wharf, Isle ofCanary Dogs E14 Boardwalk Boardwalk Place, Canary New Providence Isle of Dogs E14Wharf Place, Canary Wharf A spacious 14th floor Wharf, apartment with extensive A spacious two bedroom apartment with aWharf large balcony spacious 14th floor apartment extensive Canary Wharf andA City views from the balcony.with 1 bedroom, 1 bathroom, 14ththe floor apartment with extensive A spacious 14th floor apartment with extensive CanaryCanary Wharf Wharf andA spacious City views from balcony.

Bedroom, 1 bathroom, impressive reception area, fully 1fitted kitchen with high and Cityreception views from the balcony.

1 bedroom, 1 bathroom, andimpressive City views from the balcony.

1 bedroom, 1 bathroom, area, fully fitted kitchenwith high specification integrated appliances, balcony, private parking impressive reception area,fitted fully fittedprivate kitchen with high impressive reception area, fully kitchen withparking high specificationintegrated balcony, space, leisure facilities, appliances, 24 hour porterage. specification integrated appliances, balcony, parking specification integrated appliances, balcony, privateprivate parking space, leisure facilities, 24 hour porterage. facilities, 24porterage. hour porterage. space,space, leisureleisure facilities, 24 hour Guide price: £370 per week Guide Price: £370 Canary Wharf Lettings Guide price: £370 per Guide price: £370 per week week Canary Wharf Lettings KnightFrank.co.uk/Lettings Canary Lettings Canary Wharf Wharf Lettings KnightFrank.co.uk/Lettings 020 7512 9955 020KnightFrank.co.uk/Lettings 7512 9955cwharf@knightfrank.com cwharf@knightfrank.com KnightFrank.co.uk/Lettings

020 7512 9955 cwharf@knightfrank.com 020 7512 9955 cwharf@knightfrank.com

Aoffering spacious two bedroom with a large 2 bathrooms balcony views to Canaryapartment Wharf. 2 bedrooms, (1 A spacious two bedroom apartment a balcony large balcony Aoffering spacious two apartment with awith views tobedroom Canary Wharf.

2area, bedrooms, 2large bathrooms en suite), spacious reception high specification kitchen, offering views to Canary Wharf. 2 bedrooms, 2 bathrooms (1 offering views to Canary Wharf. 2 bedrooms, 2 bathrooms (1 (1 en suite), spacious reception area, high private parking space. The apartment is specification available furnished or enprivate suite), spacious reception area,specification high specification kitchen, en suite), spacious reception area, high kitchen, kitchen, parking space.

The apartment is available unfurnished. private parking space. The apartment is available furnished or private parking space. The apartment is available furnished or furnished or unfurnished. unfurnished. unfurnished.

Guide price: £450 per week Guide price: £450 per week Canary Wharf Lettings Guide price: £450 per Guide price: £450 per week week Canary Wharf Lettings KnightFrank.co.uk/Lettings Canary Lettings Canary Wharf Wharf Lettings KnightFrank.co.uk/Lettings 020 7512 9955cwharf@knightfrank.com cwharf@knightfrank.com 020 7512 9955 KnightFrank.co.uk/Lettings KnightFrank.co.uk/Lettings

020 7512 9955 cwharf@knightfrank.com 020 7512 9955 cwharf@knightfrank.com

Millenium Drive, Canary Wharf E14 E14 Horizon Canary WharfWharf E14 E14 Millennium Drive, Canary Wharf HorizonBuilding, Building, Canary Spacious andDrive, well presented two bedroom apartment A modern apartment set onCanary this 4th floor of this much Millennium Drive, Canary Wharf Horizon Building, Canary Wharf E14 Millennium Canary Wharf E14 E14 Horizon Building, E14 Spacious well presented two bedroom A modern onbedroom the 4th Wharf floor of this much sought to let inand Millenium Drive. 2 double bedroomsapartment with fitted to let in sought afterapartment set building. Double with fitted Millennium Drive. 2 double bedrooms with fitted wardrobes, wardrobes, 2 bathrooms, reception room with plenty of to let in Spacious andpresented well presented two bedroom apartment to let in Spacious and well two bedroom apartment 2 bathrooms, reception room with plenty of space, large space, large kitchen, day porterage.

Available furnished.

Millennium Drive. 2 bedrooms with wardrobes, fitted wardrobes, Millennium Drive. 2 doubledouble bedrooms with fitted kitchen, day porterage.

Available furnished.

2 bathrooms, reception room with plenty of space, large 2 bathrooms, reception room with plenty of space, large kitchen, day porterage.

Available furnished. kitchen, day porterage.

Available furnished.

Guide price: £395 per week Guide price: £395 per week Guide price: £395 per Canary Wharf Lettingsweek week Guide price: £395 per Canary Wharf Lettings KnightFrank.co.uk/Lettings KnightFrank.co.uk/Lettings Canary Lettings Canary Wharf Wharf Lettings 020KnightFrank.co.uk/Lettings 7512 9955cwharf@knightfrank.com cwharf@knightfrank.com 020 7512 9955 KnightFrank.co.uk/Lettings

020 7512 9955 cwharf@knightfrank.com 020 7512 9955 cwharf@knightfrank.com

after building. Double bedroomon with fitted wardrobes and ensought and enapartment set suite bathroom, single bedroom/study, A modern the 4th floor of this Awardrobes modern apartment set on the 4th floor of this much much sought suite WC, bathroom, single bedroom/study, guest WC, reception guest reception room, balcony with views of Canary after building. Double bedroom with wardrobes fitted wardrobes after building. Double bedroom with fitted and enand en room,suite balcony with views of Canary Wharf, fully fitted kitchen.

Wharf, fully fitted kitchen. bathroom, single bedroom/study, WC, reception suite bathroom, single bedroom/study, guest guest WC, reception balcony with views of Canary fully kitchen. fitted kitchen. room, room, balcony with views of Canary Wharf,Wharf, fully fitted GuidePrice price: £370 per week Guide £370 per week Guide price: £370 per Canary Wharf Lettingsweek week Guide price: £370 per Canary Wharf Lettings KnightFrank.co.uk/Lettings KnightFrank.co.uk/Lettings Lettings CanaryCanary Wharf Wharf Lettings 020 7512 9955 020 7512 9955cwharf@knightfrank.com cwharf@knightfrank.com KnightFrank.co.uk/Lettings KnightFrank.co.uk/Lettings

020 7512 9955 cwharf@knightfrank.com 020 7512 9955 cwharf@knightfrank.com

Knight Frank St Pancras Chambers, Kings Cross NW1 Stylish modern apartment This spacious top floor lateral 1164 sq ft apartment offers high ceilings, lovely windows, a fully fitted open plan kitchen - all appliances are Siemens or Miele - modern bathroom with shower and period features throughout. The floorboards are the original 1890’s reclaimed oak floorboards and there are fantastic south facing views from Canary Wharf to Westminster.

Available furnished.

£750 per week

KnightFrank.co.uk/lettings wapping@knightfrank.com 020 7480 6848

Bezier Apar tments, The City EC1Y Striking City apartment

Great 1st floor one bedroom apartment located in this outstanding new 24 hour portered development on the corner of Old Street and City Road. The Bezier apartments are moments from Old Street underground station and within 0.5 miles of the City. This beautiful apartment has been finished to a very high standard and boasts a fully fitted kitchen, contemporary bathroom suite, interior designed furniture pack, porcelain flooring with under floor heating and comfort cooling. £550 per week

KnightFrank.co.uk/lettings wapping@knightfrank.com 020 7480 6848

Knight Frank E1 Waterside, Wapping E1W

Luxurious modern living

Contemporary two double bedroom two bathroom riverside apartment set in this small modern development in west Wapping close to Waitrose and St Katharine Docks. This stylish apartment has been fitted to a very high standard boasting modern furnishings, a fully fitted open plan kitchen, beautiful bathroom suites with showers, stone flooring with under floor heating, a private balcony and underground parking. ÂŁ695 per week

KnightFrank.co.uk/lettings wapping@knightfrank.com 020 7480 6848

Drake House, Limehouse E14

Split level penthouse Large split level three bedroom, two bathroom Penthouse apartment to rent in this gated development overlooking Limehouse marina and the Canary Wharf skyline and in close proximity of Limehouse (0.3 miles) and Westferry (0.5 miles) DLR stations. On top of this, this lovely flat has been recently refurbished, offering a double height reception room with a second reception room on the mezzanine level and a fully fitted open plan kitchen. ÂŁ755 per week

KnightFrank.co.uk/lettings wapping@knightfrank.com 020 7480 6848

Knight Frank Shearwater Court, St Katharine Docks E1W Charming dock views

Beautifully presented one bedroom third floor apartment based in this great 24 hour portered development in St Katharine Docks, moments from Tower Hill underground and DLR stations, The City and the Southbank. This lovely apartment has a reception room with double doors leading on to the terrace, fully fitted separate kitchen, good size double bedroom with access to the terrace, modern furnishings, wooden floors, underground parking and a great south facing view of the dock. ÂŁ615 per week

KnightFrank.co.uk/lettings wapping@knightfrank.com 020 7480 6848

Sanctuary Court, Wapping E1W Fantastic warehouse conversion Spacious and well presented two double bedroom, two bathroom 3rd floor apartment set in this attractive warehouse conversion on Wapping High Street. This lovely flat has a good size south facing dual aspect reception room, fitted kitchen with a separate dining room, new bathroom suites (one with a Jacuzzi bath), river views across the park, beautiful wooden flooring and exposed brick work. ÂŁ525 per week

KnightFrank.co.uk/lettings wapping@knightfrank.com 020 7480 6848

Prusoms Island, Wapping E1W

Cinnabar Wharf, Wapping E1W

Lovely penthouse apartment with a double height reception room and separate dining area. Master bedroom with en suite bathroom and access to a rooftop terrace, 2 further bedrooms, family bathroom, utility room, porter, garage car parking space. Approximately 166 sq m (1,794 sq ft)

A superb two bedroom flat with views of Tower Bridge and the Shard of Glass from all the principal rooms. 2 bathrooms (1 an en suite to the master bedroom), large reception room, open plan kitchen, 24 hr porterage and a garage car parking space. Approximately 112 sq m (1,204 sq ft)

Share of Freehold

Leasehold

Guide price: £900,000

Guide price: £1,395,000

KnightFrank.co.uk/Wapping

KnightFrank.co.uk/Wapping

020 7480 6848 wapping@knightfrank.com

Dundee Court, Wapping E1W

020 7480 6848 wapping@knightfrank.com

Sugar House, City E1

Stunning three double bedroom duplex penthouse with a roof terrace and superb views. Delightful reception room with plenty of space for entertaining, separate kitchen, guest cloakroom, en suite and family bathroom and a garage car parking space. Approximately 208 sq m (2,248 sq ft)

A two bedroom duplex penthouse in a grand converted Victorian building. Vast master bedroom suite, 2 double guest rooms, impressive part double height reception room, plenty of storage, roof terrace, garage car parking space. Approximately 124 sq m (1,336 sq ft)

Leasehold

Leasehold

Guide price: £1,295,000

Guide price: £1,095,000

KnightFrank.co.uk/Wapping

KnightFrank.co.uk/Wapping

020 7480 6848 wapping@knightfrank.com

LPM Jan 2012 SALES - 12 December 2011 - 15565

020 7480 6848 wapping@knightfrank.com

16/12/2011 09:59:55

living local

HOT PROPERTY: A Top Draw

This wonderfully refurbished two bedroom penthouse apartment situated in a Grade I Listed warehouse conversion has become available. It boasts superb features, including solid oak flooring, wooden beams and exposed brick work and is situated within one of the most sought after developments in Canary Wharf, in close proximity to the many vibrant bars, restaurants and shops of Cabot Place.

The immaculate penthouse boasts magnificent high ceilings throughout and accommodates a dining area, a sofa area and an open-plan kitchen with breakfast bar. Fitted with top of the range Gaggenau appliances, the kitchen is perfect for entertaining and there is a further utility area equipped with sink, washing machine and tumble dryer. Additionally, a mezzanine level has been added which houses

a study area and a large storage cupboard. The second reception level is reached by a brushed steel and glass staircase, where there is currently space for a baby grand piano and a second seating area.

The apartment has two good sized bedrooms, two bathrooms (one as en suite to the master bedroom) and a lovely terrace offering views of the Canary Wharf skyline.

Port East Apartments, E14 ÂŁ1.2M Freehold Knight Frank Canary Wharf www.knightfrank.co.uk

020 7512 9966 135

1 2

savills.co.uk

BERMONDSEY STREET, se1

BENBOW HOUSE, se1

2 reception rooms ø kitchen ø 4 bedrooms ø 3 bathrooms ø playroom ø terrace ø garage ø 310 sq m (3,336 sq ft)

3 reception rooms ø kitchen ø 4 bedrooms ø 3 bathrooms ø study ø 2 balconies ø parking space ø 24hr concierge ø 405 sq m (4,364 sq ft)

Guide £2.999 million Freehold

Price on application Leasehold

3 4

Savills Docklands zjames@savills.com 020 7456 6800

Savills Docklands juprowse@savills.com 020 7456 6800

ST. JOHNS PARK, se3

ST. HILDAS WHARF, e1w

7 bedrooms ø 4 reception rooms ø 5 bathrooms ø indoor swimming pool ø garden ø garage ø 711 sq m (7,653 sq ft)

Reception room ø kitchen ø 2 bedrooms ø 2 bathrooms ø 2 balconies ø 2 parking spaces ø concierge ø 98 sq m (1,053 sq ft)

Guide £2.99 million Freehold

Guide £775,000 Share of Freehold

Savills Docklands zjames@savills.com 020 7456 6800

Savills Docklands juprowse@savills.com 020 7456 6800

1 2

savills.co.uk

WEST INDIA QUAY, e14

DISCOVERY DOCK, e14

Reception room ø kitchen ø bedroom ø bathroom ø 24hr concierge ø 60 sq m (650 sq ft)

Reception room ø kitchen ø 2 bedrooms ø 2 bathrooms ø gym ø balcony ø 24hr concierge ø parking space ø 89 sq m (957 sq ft)

Guide £425,000 Leasehold

Guide £600,000 Leasehold

3 4

Savills Canary Wharf bpage@savills.com 020 7531 2500

Savills Canary Wharf bpage@savills.com 020 7531 2500

WEST INDIA QUAY, e14

KEEPIER WHARF, e14

Reception room ø kitchen ø 2 bedrooms ø 2 bathrooms ø guest cloakroom ø 24hr concierge ø 455 sq m (1,561 sq ft)

Reception room ø kitchen ø 2 bedrooms ø 2 bathrooms ø utility room ø concierge ø parking space ø 191 sq m (2,059 sq ft)

Guide £850,000 Leasehold

Guide £1.2 million Share of Freehold

Savills Canary Wharf bpage@savills.com 020 7531 2500

Savills Canary Wharf bpage@savills.com 020 7531 2500

LEFT-HAND

Hamptons City Office Sales. 020 7236 8398 city@hamptons-int.com

Queens Quay, EC4 Leasehold £390,000

Exchange Building, E1 Leasehold £395,000

Set on the 5th floor of Queens Quay, this bright and airy one bedroom riverside apartment is well presented and has east-facing views towards London Bridge.

Set on the first floor of a highly sought-after building with lift and concierge, this one bedroom apartment comes with an underground parking space.

Savage Gardens, EC3 Leasehold £475,000

Wexner Building, E1 Leasehold £599,995

This larger-than-average 1 bedroom apartment is beautifully presented with great entertaining space, and is superbly located in the Square Mile.

This fabulous 1 bedroom penthouse apartment is on the top floor of the popular Wexner Building in Spitalfields, and has a superb roof terrace off the reception.

Shaftesbury Avenue, W1 Leasehold £765,000

Alie Street, E1 Freehold £1,225,000

Set on the 4th floor of a striking period building in the heart of the West End, this 2 bedroom apartment is incredibly bright, and will make a wonderful pied-a-terre.

Set over 5 floors, this 6 bedroom 4 bathroom period house offers extremely flexible accomodation, has an eat-in kitchen, gardens, and measures over 2700sq feet.

From their first steps to the first visit to the grandchildren, Hamptons International know what makes a family home. The comfort it will provide. The memories it will hold. We see beyond the bricks and mortar to help you find somewhere that’s, well, home.

RIGHT-HAND

Hamptons Tower Bridge Office Sales. 020 7407 3173 towerbridge@hamptons-int.com

Springalls Wharf, London, SE16 Asking Price £935,000 Leasehold

Luna House, London, SE16 Asking Price £1,050,000 Leasehold

A waterfront apartment with impressive views of Tower Bridge and the Thames, two parking spaces and a decked terrace, within a portered development.

A waterfront, 3rd floor, two bedroom apartment, with the reception and both bedrooms facing the River Thames and two balconies. Parking and porter facilities.

Tennis Court, London, SE1 Asking Price £385,000 Leasehold

Minerva House, London, SE1 Asking Price £529,000 Leasehold

A well presented 2nd floor one bedroom apartment in Borough Market, in a modern development and having a juliet balcony. c.400 yds from London Bridge.

A 657 sq ft, ground floor, one bedroom apartment in the heart of Borough Market with partial river views benefting from porterage and underground parking.

Evans Granary Apts, London, SE1 Asking Price £495,000 Leasehold Tempus Wharf, London, SE16 Asking Price £799,950 Leasehold A second floor 534 sq ft, one bedroom luxury apartment within a superb development, set in the heart of Borough Market, just off Clink Street.

A 883 sq/ft two bedroom warehouse apartment in a riverside development, with views of the river and communal gardens.

It’s important to make time for the things you love. At Hamptons International we take all the strain out of managing your move. Leaving you free to enjoy the finer things in life, safe in the knowledge that everything’s being taken care of.

LEFT-HAND

Hamptons City Office Lettings. 020 7236 8399 citylettings@hamptons-int.com

Dock Street E1 £700 per week

Portsoken Street E1 £390 per week

A stunning penthouse apartment in this small development with direct lift access and large private roof terrace. Available part / furnished or unfurnished.

A duplex one bedroom apartment in this small development only minutes from Tower Hill and the Thames. Benefits from wood floors and available furnished.

Scarborough Street E1 £425 per week

Leyden Street E1 £565 per week

A newly refurbished one bedroom property on the first floor of this period conversion a short distance from Tower Hill / Aldgate East. Available furnished.

A modern, refurbished two double bedroom apartment in St Clements House development, situated in Spitalfields with parking. Available furnished

Bishops Square E1 £460 per week

Ludgate Square EC4 £1200 per week

A fantastic one bedroom flat on the first floor of this modern block, in excellent condition. Bishops Square is West of Spitalfields market. Available furnished.

A beautiful three bedroom penthouse apartment with a private roof terrace facing St Paul’s Cathedral, overlooking many City landmarks. Available furnished.

The Hamptons International team always go further to meet your personal property needs, whatever they may be. Over 97% of our clients say they would use us again or recommend us to others. Let us show you why.

RIGHT-HAND

Hamptons Tower Bridge Office Lettings. 020 7407 3173 towerbridgelettings@hamptons-int.com

Shearwater Court, E1W £825 per week

Victor Wharf, SE1 £1950 per week

Well presented two double bedroom two bathroom apartment in this sought after development with views over St Katharine Dock towards Tower Bridge.

Striking three bedroom duplex Penthouse in this highly desirable development in the heart of Borough.

Montague Close, SE1 £725 per week

Cayenne Court, SE1 £425 per week

Two bedroom two bathroom warehouse on the river with balcony in this sought after Borough location.

One bedroom apartment in this sought after development offering 24 hours security and gym.

The Circle, SE1 £425 per week

Tempus Wharf, SE1 £4575 per week

A spacious one double bedroom apartment with balcony set within this popular development.

Fabulous two bedroom warehouse conversion full of character in the highly desirable Shad Thames with direct river views.

Renting a property is no reason to accept anything less than the perfect home. It’s still your personal oasis. Albeit for a shorter timeframe. That said nearly all our tenants renew their contracts. Proof that we know how to make people feel right at home.

UNIQUE HOMES, UNIQUE SERVICE, UNIQUE PEOPLE A t a i l o r e d s e r v i c e f r o m L a n g f o rd R u s s e l l f o r d i s t i n c t i ve a n d e x c l u s i ve h o m e s

ASHdOwN, NINHAMS wOOd, KESTON BR6 This inviting five bedroom property occupies a substantial southerly facing plot on a highly regarded private road belonging to the Keston Park Estate. Set behind secure privacy gates the house offers an abundance of ground floor space for the family or to entertain.

ÂŁ1,650,000 Freehold

RUSHMORE HILL, KNOCKHOLT TN14 A charming six bedroom home set almost centrally on an extensive and private plot of approximately 1.8 acres.

The impressive approach to the house is via electronic gates leading to a long and graceful driveway. There is an opportunity for further permitted development within the grounds.

ÂŁ2,850,000 Freehold

UNIQUE is a Specialist Division of Langford Russell

Unique at Langford Russell Chislehurst Office 13 High Street, Chislehurst, Kent BR7 5AB Tel 020 8378 1222 Email enquiries@uniquepropertiesuk.com

Offices Also At: Beckenham & Bromley

www.uniqueproper tiesuk.com www.langfordr ussell.co.uk

A New Approach To Letting In London 1 & 2 Bedroom New Apartments From ÂŁ1,000 pcm - Canada Water / Surrey Quays Spacious and light, bespoke contemporary apartments.

Zone 2 location one stop from Canary Wharf with underground car parking.

Letting Agent

Show Home Open 10am - 5pm, January 21st 2012, Trundleys Road SE8.

Call 020 8852 4455

acorn.ltd.uk

Dundee Court, E1W

Lothbury, Bank, EC2R

1 double bedroom apartment with angle views of the River Thames. Fitted kitchen.

Bathroom. Fitted kitchen. Close to Tower Hill and St Katharine’s Dock. Secure Parking.

Warehouse converted 1 double bedroom apartment situated within this sought after development. Within easy access to the City and Docklands.

A unique opportunity to rent this 3rd Floor, 1 double bedroom luxury apartment, situated opposite the Bank of England.

Rental Price: £325 Per Week

Rental Price: £365 per week

Rental Price: £650 Per Week

St Johns Wharf, E1W

Tradewinds, Wapping, E1W

Pudding Lane, Chigwell, IG7

Fantastic opportunity to rent this spacious sub penthouse within this historic warehouse building.

Modern large spacious 1 double bedroom apartment with large reception room.

A unique opportunity has arisen to rent this Grade II listed country house within Pudding Lane formerly “Patsalls” Lane which dates back to the 15th Century.

Rental Price: £675 Per Week

Rental Price: £365 Per Week

Rental Price: £690 Per Week

Orient Wharf, Wapping, E1W

£1,250,000

Creek House, Limehouse, E14

Walkers Lodge, E14

Leamore Court, E2

River views from this two bedroom apartment in modern development.

Porterage. Situated near to the amenities of the popular Narrow Street area!

Modern 2 double bedroom, 2 Bathroom spacious apartment situated close to Canary Wharf.

Timber flooring.

Superb 2 bedroom, 8th floor apartment within this modern gated development.

Benefiting from an en suite shower room and additional bathroom.

Price: £474,995

Price: £364,995

Price: £339,950

Manchester Road, E14

Waterman Way, E1W

Freetrade Wharf, E1W

3 Bedroom maisonette. Reception. Fitted kitchen. First floor bathroom. Own garden.

Close to Island Gardens Docklands Light Railway. Easy access to Canary Wharf.

Modern studio apartment within this popular canalside development. Within easy access to Tower Hill and Tower Gateway.

Approx. 15 mins to Liverpool Street

River Thames views from this delightful 2 double bedroom, 1st floor apartment.

The property has been re-furbished to a good standard throughout.

Price: £279,995

Price: £199,950

Price: OIEO £550,000

2011-12-20 15:16:57

1

WAPPING

Sanderling Lodge E1W

St Hilda's Wharf E1W

A wonderful split-level apartment in this stylish development with panoramic views over St. Katharine Docks. The apartment has two terraces and provides exceptional living and entertaining space reception room | 2 bedrooms (en suite) | kitchen | guest cloakroom | study | utility room | parking | 2 terraces

A stunning riverside penthouse apartment in the heart of Wapping offering breathtaking views across the River Thames. The property has a master suite on the top floor with high ceilings reception area | dining area | 4 bedrooms (3 en suite) | shower room | kitchen | study | parking | concierge

Guide price £2,250,000 leasehold

Guide price £2,200,000 leasehold

Cinnabar Wharf E1W

Aberdeen Wharf E1W

A stunning two bedroom apartment with far reaching views across the Thames to Tower Bridge and The Shard of glass, from balconies off both the reception room and master bedroom reception room | 2 bedrooms (1 en suite) | shower room | kitchen | parking | 2 balconies

A penthouse apartment in a characterful warehouse conversion with a large roof terrace. The apartment has been modernised throughout while maintaining a host of original features reception room | 2 bedrooms (1 en suite) | shower room | kitchen | parking | roof terrace

Guide price £1,395,000 leasehold

Guide price £1,300,000 leasehold

cluttons.com

020 7488 4858 wapping@cluttons.com

2

1

2011-12-20 15:55:35

1

WAPPING

Aberdeen Wharf E1W

Aldgate Tower E1

This charming apartment, has been tastefully re-modernised whilst still maintaining a host of original warehouse features, set within a characterful warehouse conversion in the heart of Wapping reception room | 2 bedrooms (en suite) | shower room | kitchen | secure parking

A two bedroom apartment set on the twelfth floor of this modern development with access to a private roof terrace providing 180 degree panoramic rooftop views reception room | 2 bedrooms (1 en suite) | shower room | kitchen | balcony

Guide price £850,000 leasehold

Guide price £675,000 leasehold

Landmark West Tower E14

Chimney Court E1W

A stunning apartment with views over the River Thames and the Canary Wharf skyline. The property is finished to a high standard and benefits from access to a private residents gymnasium reception room with open-plan kitchen | bedroom | bathroom | 24hr security | residents gym

A loft style studio apartment set on the first floor of this converted warehouse with generous ceiling heights and large warehouse style windows with west-facing views over the park reception room | mezzanine bedroom | bathroom | kitchen | secure parking | buildings manager

Guide price £425,000 leasehold

Guide price £385,000 leasehold

cluttons.com

020 7488 4858 wapping@cluttons.com

Rendall and Rittner Lettings Ltd.

To all landlord and sellers! Rendall and Rittner Letting limited would like to take the

opportunity to invite you to contact one of our dedicated experienced members of staff to discuss your property requirements.

Lettings

City View House, Bethnal Green E2E2 £275.00 Per week

New Caledonian Wharf SE16

Excellent opportunity to rent this one double bedroom apartment situated on the sixth floor of this former factory building situated in the heart of Bethnal Green, being ideal for the underground and local bus services to The City and beyond. Weekday concierge.

Furnished/Unfurnished.

Three Double bedroom, duplex apartment is available in this prestigious development known as New Caledonian Wharf. The property comprises: Three double bedrooms, three bathrooms, two receptions, Private terrace, with views of The River Thames.

Parking. Onsite leisure facilities. 24Hour concierge.

Heron House WC1

Admiral Place, Rotherhithe SE16

£600 Per week

Two bedroom Refurbished apartment in this centrally located building situated along High Holborn. Local transport links are within 100 yards and include an array of bus services and Chancery Lane (central line) underground station. Property comprises: Shower room, Bathroom Reception benefitting from doors to a large private terrace. Open plan kitchen. Two bedrooms.

Furnished.

£575.00 Per week

£300 Per week

Two double bedroom maisonette, built alongside Rotherhithe Street, which is (in our opinion) a convenient location for local pubs, Thames clipper service and the newly opened Rotherhithe overground station. The property also benefits from a parking area in front. Property requires some updating.Good Location.

Unit 3, Vogan’s Mill, 17 Mill Street, London, SE1 2BZ Tel: 020 7702 0042 Fax: 020 7394 1937 Email: lettings@rendallandrittner.co.uk www.randrlettings.co.uk

living local

State of the market CARL DAVENPORT, ASSOCIATE DIRECTOR AT CHESTERTON HUMBERTS IN TOWER BRIDGE, COMMENTS ON THE STATE OF THE RESIDENTIAL PROPERTY MARKET

ONWARDS AND UPWARDS?

W

e are quietly confident about the 2012 London property market despite the recent national predictions.

In the face of the reports of minimal growth, 2011 was an exceptional year with property prices in the City exceeding both the London and national averages as the borough continued to attract professionals and investors. I believe 2012 will see similar growth, although at a lower predicted rate of 0.3 per cent, with most activity taking place in the first quarter of the year when the market is typically at its most robust.

So why am I so optimistic about 2012? Quite simply, this area is the ideal place for professionals: the amenities; the culture; the restaurants; the transport; the developing architecture; and its location right in the heart of London, all create a convenient and enjoyable place to live.

The area’s growing popularity is made evident by the influx of buyers and renters who moved here in 2011 after recognising the City’s ability to offer a secure platform for property investment by offering greater value per square foot than some other, more expensive London locations to the west.

Plus, with attractive large scale developments such as Berkeley’s One Tower Bridge and The Shard set to be completed this year, I am obviously not alone in thinking the momentum will continue.

Indeed, if rental yields in the capital continue to increase as I anticipate they will, buy-to-let investors especially will be eager to find profitable properties in the City to accommodate the growing number of people looking to move here for the already attractive rents.

It would be unwise not to give consideration to the impact of the European financial situation and possible increased austerity measures as such factors will contribute to a slow down. Then again, the City should emerge unscathed as it will continue to offer investment stability and perceived value against more expensive London prices, even in a correcting market. n Chesterton Humberts, Tower Bridge 020 7357 6911 www.chestertonhumberts.com

151

London's Finest Properties

LETTINGS

SALES

Caspian Wharf, Bow, E1

Westgate Apartment, Excel, E16

New Providence Wharf, Fairmont Avenue, E14

New Providence Wharf, Fairmont Avenue, E14

• Studio Apartment • 2nd Floor • Fully Furnished • Balcony • Concierge Service • Nr. Multiple Transport Links

• One Bedroom Apartment • 6th Floor • Fully Furnished • Fully Fitted Gymnasium • Concierge Services • Nr. Royal Victoria DLR

• 17th Floor One Bedroom Apartment • Highly Prestigious Riverside Development • Exceptional Leisure Facilities • 24hr Concierge • Moments from Canary Wharf

• Stunning 13th Floor Two Bed Apartment • Uninterrupted River Views From All Rooms • Excellent Condition Throughout • Secure Underground Parking • 24hr Concierge and Exceptional Leisure facilities

Asking Price £325,000

Asking Price £475,000

£270.00 per week

£290.00 per week

Capital East, Excel, E16

The Landmark, West Tower, E14

Sugar House, Leman Street, E1

Westgate Apartments, Royal Docks, E16

• One Bedroom Apartment • 7th Floor • Fully Furnished • Floor to Ceiling windows • Resident Gymnasium • Parking Available

• One Bedroom Apartment • Fully Furnished • Balcony • Onsite Gymnasium • 24hr Concierge Service • Nr. South Quay DLR

• Immaculate 1st Floor Show Apartment • Two Bedroom/ Two Bathroom • Interior Designed • Exceptional Specification • Secure Underground Parking • Moments from the City and Tube

• 5th floor Two Bedroom/ Two Bathroom • Immaculate Condition • Concierge • Good Transport Links • Close Proximity to Canary Wharf and the City

£300.00 per week

£365.00 per week

£1,080,000

£314,950

New Providence Wharf, Canary Wharf, E14

Lanterns Court, Canary Wharf, E14

Christopher Court, City Quarter, E1

New Providence Wharf, Fairmont Avenue, E1

• One Bedroom Apartment • 13th Floor • Balcony • Fully Furnished • Resident Health and Fitness Club • 24hr Concierge Service

• A Selection of Two Bedroom Apartments • Fantastic Views • Fully Furnished • Parking Available • 24hr Concierge Service • Walking Distance to Canary Wharf

• 2 Bedroom/ 2 Bathroom Corner Unit • Private Patio • Highly Desirable Development • Exceptional Level of Specification • Moments from DLR/Tube and City

• 4th Floor Two bed/One Bath • Stunning Riverside Development • Balcony • Valet Parking • Moments from DLR and Jubilee Line

£425.00 per week

£460.00 per week

Asking Price £529,950

Asking Price £399,999

Sales | Lettings | Corporate Services | Property Management www.liferesidential.co.uk

Central London 020 7582 7989

West London 020 8896 9990

Finchley 020 8446 9524

Docklands 020 7476 0125

Deptford & Greenwich 020 8692 2244

LawrenceWard_CityMag_Jan2012 21/12/2011 14:44 Page 1

Sensitive conversions. Sound investments.

City & Country Group offer a selection of unique conversion homes that not only make a statement but also offer a sound long term investment.

Balls Park Hertfordshire a landmark development of luxurious 1, 2 and 3 bedroom conversion apartments, set within 63 acres of picturesque parkland. from £199,950 to £1,500.000. call 01992 551777

Bentley Priory Stanmore an exclusive selection of apartments and houses within the historically significant mansion house and adjoining buildings at Bentley priory. launching february 2012. register on 01279 817882

Show homeS open daily from 10am to 5pm www.cityandcountry.co.uk

the Galleries Brentwood 1 & 2 bedroom conversion apartments in a Victorian Grade ii listed building and brand new apartments set in tranquil courtyard gardens. from £225,000 to £440,000. call 01277 202122

newHOMES

Your essential guide to new local developments. Read up to the minute information about star apartments, good investments, yet to be launched to the market properties, and the best in innovative design, architectural excellence and chic, city style. This dedicated section covers luxury projects throughout Blackheath, Camberwell, Dulwich and other select areas of South East London.

Tall and Slender

The New Property Craze

Contemporary Classic Stunning New Homes

newhomes

Property Latest

By Lauren Romano

SIZE ZERO HOMES

Multi-storey townhouse style properties are currently in high demand. While lateral homes can be ideal for family living, this type of interior doesn’t necessarily suit everyone, and partitioned walls are being re-introduced as home owners begin to consider the advantages that separate spaces can offer. In tall, slender properties, different floors can be

assigned to different family members, giving everyone, especially teenagers, their own space and privacy. Houses spread across several levels are generally arranged with reception rooms extending the whole way from front to back to incorporate light throughout. Moreover, lower ground floors often have separate access, ideal for staff, or to enable owners to rent out parts of the house as

WORK LIFE BALANCE More people than ever are working from home and properties which combine both living and working space are currently proving exceptionally popular. “Working patterns are changing,” says Cargerine McAllister of Stacks Property Search. “In particular more women are running their own businesses from home, often on a part time basis while they combine bringing up a family. Moreover, constantly improving technology means there are few disadvantages of a practical nature.”

For people looking to start a home office, finding the right life/work space is vital. Lack of human contact, often cited as the biggest drawback of working from home, can be addressed at live/work developments where several units are often grouped together.

separate accommodation. An exemplar ‘size zero’ property has come onto the market in Westbourne Park Road. The elegant, imposing six-storey Victorian house extends to 3, 140 sq ft and has six bedrooms, four bathrooms, a walled garden and a balcony, running the width of the house which is accessed from the large sash windows of the first floor reception room. It has already attracted great interest.

PRICEY PARKING

NEWS IN BRIEF MARKET UPDATE The Jones Lang LaSalle Property Pulse predicts that UK households will become more confident as 2012 progresses and a host of difficult domestic factors, include high inflation, gradually begin to ease. Looking to the future, the report forecasts 2013 will see the housing market become more active with UK house prices set to rise by approximately three per cent. Meanwhile, with low mortgage lending expected to continue over the next few years, market activity will carry on shifting from owner-occupied to a strengthening rental sector.

A new study has revealed that a parking space is estimated to significantly increase the appeal and price tag of a property in Kensington and Chelsea and add around £95,800 to the selling value of a home. Aside from a sought after space or garage to park the car, London house prices are significantly boosted by being in the catchment area for a popular school, within close proximity to a train station and having a garden.

BACKGROUND CHECKS Landlords are being reminded to carry out checks on tenants prior to letting out properties. A standard NLA Tenant Check can include a County Court Judgement search, an ID check and references from employers. A record number of checks were performed last year, showing that landlords are becoming increasingly concerned about finding the most suitable tenants to ensure a hassle-free tenancy. According to the NLA chairman David Salusbury “Getting a proper background check done on all tenants before they move into a property is one of the most important things a landlord can do before handing over the keys.”

EAST END BOOM Districts of East London are fast becoming property hotspots. International buyers from Asia, UK city investors and second home buyers are showing increasing interest in developments in the area. The DLR and Jubilee Line have opened up otherwise detached parts of East London, which are now only a 10-20 minute journey to Canary Wharf and The City. The convenient location of new build developments in Maple Quays, Canada Water and Dalston among other locations, make these districts prime territory for buy to let or second home buyers in particular. Estate agent Barratt has seen prices in the East End increase by 12 per cent over the past 18 months.

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newhomes

DEVELOPMENT FOCUS A Charming Prospect this re-development of a former prestigious girls’ school has been

Computer Enhanced Photograph of Camberwell Grove

given the Grade-A treatment, says Lauren Romano

T

he historic Mary Datchelor School is currently being given a new lease of life.

A stunning and sensitive restoration of two former classroom blocks, together with a new development of Georgianstyle, two, three and four bedroom townhouses, is set to revive the school’s distinguished legacy and complement the opulent architectural heritage of the area. One of southeast London’s most sought after residential streets, Camberwell Grove is also at the heart of an attractive conservation area, something developers St George have paid particular attention to. The project as a whole demonstrates how local landmark buildings can be converted to create sustainable and distinctive character-filled residences, while the newer townhouses, built using traditional London yellow stock brick with their timber sash windows and black railings, blend seamlessly with the neighbouring period homes.

Ninety properties scattered about the site encompass attractive residential units of all shapes and sizes, from bijoux apartments to palatial modern built homes arranged across numerous floors. The striking, original Victorian red-brick façade of the school building, skirted by mature trees and ornate iron railings, sits securely within well-maintained

landscaped gardens. Fusing the best in period-style features with the demands of modern living, the apartments have potential access to a convenient underground resident’s car park, communal outside areas and two nearby tennis courts, which form part of the Butterfly Tennis Club.

Inside, clean-lined, sophisticated living spaces are equipped with ambiance-enhancing specialist lighting,

Interior Photography of Camberwell Grove Show Home

under floor heating and pre-wiring for audio sound systems. Custom designed kitchens with stunning composite stone worktops and integrated stainless steel appliances ensure that all the apartments are well kitted out for entertaining. The elegant townhouses are similarly high-spec; with their classical proportions, generous windows and high ceilings, the timeless elegance of the properties makes them popular with potential buyers, as does how successfully the interiors combine this enduring appeal with a contemporary twist. Designer flourishes and impressive attention to detail means gas fires and additional appliances, like integrated coffee machines and wine coolers are also provided. Several of these townhouses also come with attractive walled courtyard gardens, conservatories and even private individual garage spaces, tucked away beneath the properties.

The expansive 2.1 acre development is yet another welcome addition to the surrounding SE5 postcode, which has experienced an explosion in local investment and growth in recent years. A parade of fashionable new bars and restaurants can be found a five minute stroll away, while leisurely afternoons can be spent wandering along by the Thames and soaking up the South Bank’s many cultural attractions, from the Globe Theatre to the Royal Festival Hall. The development is also well placed to explore other nearby desirable neighbourhoods, including Greenwich, Blackheath, Clapham and East Dulwich, which all boast a host of local amenities, unique boutiques and good schools.

Camberwell Grove is well-connected to Central London and the City, thanks to a growing number of transport links. Nearby Denmark Hill station provides regular fast trains to Victoria, London Bridge and Blackfriars while Peckham Rye and Loughborough Junction stations are also close by. The area is expected to benefit greatly from the anticipated London Underground extension of the East London line to Denmark Hill, due to open this year. The accessibility of Gatwick, City and Heathrow airports and the Eurostar terminal at King’s Cross St Pancras also makes the location perfect for those commuting further afield for work or leisure on a regular basis.

Star PROPERTY Set within the old school building, a number of refurbished studios and apartments have been worked into the original Victorian framework; generous sized rooms, with lofty ceiling height, neutral interiors and sash windows ensure the homes are light and contemporary. The luxurious finishes of these properties include plush carpets, beautiful wooden floors and high-gloss bathrooms with wide, walk-in showers which testify to the care and attention taken in the development. Camberwell Grove homes are certainly those one would be glad to show off, and to this end specialist designed cove lighting creates atmospheric mood lit spaces, perfect for entertaining, while minimalist high quality chrome kitchens with hidden integrated appliances make hosting convenient.

Other touches like the under-floor heating and built-in wardrobes with sliding mirror doors are the final elements which make each apartment comfortable, chic and practical.

Prices start from £409,950 for a two bedroom apartment and £849,950 for a four bedroom townhouse.* Telephone 020 7708 5829 www.camberwell-grove.com

* price correct at time of going to press

159

IEstate

Agents stranger things have happened

New Docklands Office Opening Soon

For more information: docklands@bushells.com Or follow us on Twitter @bushells

Bushells.com

newhomes

expert comment SALES:

LETTINGS:

Prime london is in a league of its own

Reflecting on a bright 2011 for the rental sector

SARAH SHELLEY, PARTNER AND OFFICE HEAD AT

GARY HALL, PARTNER AND LETTINGS MANAGER AT

KNIGHT FRANK IN WAPPING COMMENTS ON THE

KNIGHT FRANK IN WAPPING, COMMENTS ON THE TRENDS IN

TRENDS IN THE RESIDENTIAL SALES MARKET

THE RESIDENTIAL RENTAL MARKET

The trends in London house prices over the last few months demonstrated that the prime London property market continues to differ from the rest of the UK, something which we term a ‘multispeed’ phenomenon.

In October of 2011, house prices across the UK had risen by 1.2 per cent compared to the previous month, although it was noted that the figures were down by 0.3 per cent on the quarter and remained 1.8 per cent lower than the prices recorded a year before. In contrast, prime London prices were 0.7 per cent higher in October than in September and continued to grow for the 13th consecutive month in November and December of last year.

In fact, the November figures were said to represent a record high, some 38.5 per cent higher than during the slump of March 2009, which is very good news for those who have invested in luxury property in the city, as well as reassuring for those who are looking to acquire a premium home in 2012.

The financial and economic difficulties in the Eurozone have only emphasised London’s position as a safe haven for investment, a perception which emerged during the time of political uncertainty in the Middle East.

This situation, coupled with a continuing stream of enquiries from affluent potential buyers at our branches, is one of the aspects which have led us to forecast that this growth in the sales market will continue during 2012. However, while the overall growth between 2010 and 2011 was 12.6 per cent, it is likely that this increase will prove more modest in the forthcoming 12 months.

London’s prime rental market has remained buoyant during the past 18 months, which can be attributed to the capital’s economic revival since 2009, as well as greater restrictions on mortgage lending introduced in the wake of the credit crisis. Since then, we have seen an increase in average rents of 27 per cent and the evidence to date is that the sector continues to deliver healthy returns for landlords, with tenants having to act promptly to secure properties.

Supply of property coming onto the rental market is increasing and it is going some way to meet the strong demand, which is continuing to push the rents higher. Our view is that we will continue to see rental growth, albeit at a slower pace with a rate of 4 per cent to 5 per cent per annum. This is much closer to annual earnings growth than the sharp increase we have seen recently which makes it more realistic and sustainable for the medium to long term.

Applicant activity throughout our central London offices has been high. At the peak of the market (June 2011), we registered 852 new applicants looking for properties between £450pw and £5000pw. Even at the low point in December we still registered 282 new applicants, showing that demand remains strong whichever month we are in.

The number of requests for prime residential rental property in London is only expected to rise over the coming year and we predict that 2012 will continue to prove very successful for the market.

Knight Frank Wapping 020 7480 6848 www.knightfrank.co.uk

Knight Frank Wapping 020 7480 6848 www.knightfrank.co.uk

162

FAMILY HOMES OF GRAND STYLE

Nestling amidst the perfectly preserved architecture of Camberwell’s conservation area, at Camberwell Grove, the Georgian townhouse has been recreated for the 21st century.

• Easy walking distance to Denmark Hill and Peckham Rye railway stations with direct links to central London in just 12 minutes*** • Will benefit from London Underground’s extension of the East London line to Denmark Hill, due for completion in 2012 • Enviable location: bars, restaurants cafés and high street stores within easy walking distance • State of the art open plan kitchen and conservatory to selected plots • Spectacular reception and family rooms on first floor • Level 3 devoted to a luxurious master suite • Underground car parking** • Adjacent to two tennis courts available through membership of the Butterfly Tennis Club****

Four bedroom townhouses from £849,950 - £1,725,000* Denmark Hill

Peckham Rye

Queens Road Peckham

South Bermondsey

2 mins

6 mins

7 mins

London Bridge

12 mins total duration **

020 7708 5829

Please contact us on Or email camberwellgrovesales@stgeorgesl.com www.camberwell-grove.com

Show Home open daily 10am – 6pm Camberwell Grove, Camberwell, London SE5 8RD

Proud to be a member of the Berkeley Group of companies

*Price correct at time of going to press. **Available at an additional cost ***Times approximate only. See tfl.gov.uk ****Visit butterflytennis.com. Interior photography of Camberwell Grove.

STG075_CG_City&SquareMagazine_297x210_Jan12.indd 1

19/12/2011 09:29