LONDON
PULSE
PRIME CENTRAL LONDON:
MARKET LOWDOWN
Giles Cook, Director at Chesterton
Humberts, Chelsea: “Chelsea has quite
a diverse housing stock – everything from
family homes, buy-to-let apartments,
pied-a-terre apartments to mews houses.
In general, prices start from around
£300,000, rising to some of the most
expensive property in the world.”
Tim des Forges, Partner, Residential Flat
Sales, WA Ellis: “We specialise in all types
of residential property from studio flats
to the largest developments and mansion
flats. In Knightsbridge, Belgravia and
Chelsea many of the area’s freeholds are
owned by the Landed Estates. Most flats
thus remain leasehold, ranging from
five-year leases upwards. This gives huge
diversity in what we sell and also demands
experience in the often complex detail
of leases and possible lease extensions.”
£23.95 MILLION
Charles McDowell is Director of
McDowell Properties, a prime London Cadogan Place, Grade II listed, 5 reception rooms, gym,
property consultancy. He buys and sells cinema, pool, garaging, through Beauchamp Estates at
properties over £5m. “Prime residential £23.95million Right: Freehold family house in Belgravia: £7 MI
LLION
property remains extremely scarce in Eaton Terrace, through Beauchamp Estates at £7million.
‘Properties that
London. With the limited stock available, individual top end residential sales.
are the best of
prices may rise further although more “There is still a shortage of good stock in
stock should begin to appear in the next central London and most certainly there
prime, right across couple of months as sellers become more is demand – the number of applicants has
the price ranges,
convinced by the market.” increased exponentially throughout 2009.”
are achieving in excess of
Jacqueline Ironside, Property James Bailey, Head of Sales at Henry
Consultant: “The Lettings market is & James: “There hasn’t been a huge
2007 prices.’ CHARLES McDOWELL
buoyant; those who have chosen not increase in stock coming on to the
DIRECTOR McDOWELL PROPERTIES
to sell have often let instead, but there are market but the quality of the housing
fewer corporate buyers around. Our stock coming on now is definitely
market is very specialised; high value improving and the number of new
buyers, sellers, landlords and prospective instructions has been steady. We have
tenants require a high level of personal had significant interest from buyers and
service and with a shortage of properties have applicants. We saw a small drop in
on the open market, property consultants applicant levels in the run-up to Christmas
have to use their contacts and reputation but compared to earlier in the year,
to meet the needs of their clients.” applicants are much more focused and
Martin Bikhit, MD, Kay & Co: we have seen a huge increase in viewing
£1.6 MILLION
“Our main market is large family houses, levels. Prices are up anywhere from
A 3 bed maisonette: Redesdale Street, mews houses and luxury apartments. five to twenty per cent, depending on
SW3, from WA Ellis at £1.6million We have seen a decrease over the last year the property and location.”
in the number of properties on the market,
but there has been a large increase in the
number of motivated buyers seriously
‘We saw a small
looking to buy properties. That said the drop in applicant
majority of money is coming into the
levels in the run-
middle and upper ends of the market with
less interest at the lower end of the market.”
up to Christmas
Gary Hersham, MD and Partner, but compared to earlier in
Beauchamp Estates operates in residential
£550 PCM
the year, we have seen a
and commercial sales and acquisitions, and
Period building: Queen’s Gate Terrace, in lettings. His main market is acquiring
huge increase in viewing
SW7, to let, WA Ellis at £550 per week and reselling developments and also in levels.’ JAMES BAILEY HENRY & JAMES
26 FEBRUARY 2010 PROPERTYdrum
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