Professional • Insight Property:


Taking branding to new heights


by Kate Burnett


New reports on branded residences spotlight a residential trend that is quickly gathering international momentum


Events: November 29 October – 04 November


Winter Art & Antiques Fair Olympia Seventy UK dealers will be selling furniture, Asian antiques, textiles, carpets, glass, mirrors, silver and art. olympia-antiques.com


44


London Olympia, Hammersmith Road, London W14 8UX


02 November


An introduction to IP and how to identify your IP assets


A Creative Industries Federation session to help creative organisations best identify and harness their intellectual property to grow their business. The event is free to attend for members and costs £95.00+VAT for non-members. federation.force.com/s/ lt-event?id=a1U41000002uYRVEA2 Bates Wells Braithwaite, 10 Queen Street Place, London EC4R 1QS


05 - 09 November Asia Week


The Design Centre, Chelsea Harbour will host an exhibition of contemporary Asian art.


dcch.co.uk/asia-week-registration/ DCCH, Lots Road, London SW10 0XE


09 November - 11 November Handmade Chelsea The three-day event features contemporary crafts and design made in the UK.


handmadeinbritain.co.uk


Chelsea Old Town Hall, King’s Road, London SW3 5EE


15 & 22 November


Leadership for small practices The museum’s MoA Academy present a workshop on organisational behaviour and authentic leadership. Priced £125 + VAT, concessions £75 + VAT. museumofarchitecture.org/academy.html Build Studios, 203 Westminster Bridge Road, London SE1 7FP


15 November – 24 December Still Life


This showcase to celebrate CAA’s 70th anniversary will be displaying cross- disciplinary tableaux of some of its 350 maker members which illustrate CAA’s ethos that the spectrum of craft is greater than the sum of its parts. caa.org.uk


Contemporary Applied Arts, 89 Southwark Street, London SE1 0HX


18 November Midcentury Modern


Midcentury Modern returns to south east London, with dealers selling Scandinavian as well as European Bauhaus classics and collectibles.


modernshows.com/the-shows Dulwich College, London SE21 7LD


20 - 21 November Sleep + Eat


The hotel design, development and architecture event includes the industry conference, installations and collaborations. sleepandeatevent.com


The Business Design Centre, 52 Upper Street, London N1 0QH


24 November 2018 – 26 May 2019 A Home for All: Six Experiments in Social Housing


The display of six projects explore the challenge of providing housing for all. vam.ac.uk/event


Gallery 128a at the V&A, Cromwell Road, London SW7 2RL


26 November


By Design: Martino Gamper As part of a new series of talks, Alice Rawsthorn speaks to London-based Italian designer Martino Gamper as he discusses his practice through a single object. shop.soane.org/collections/by-design Sir John Soane’s Museum, 13 Lincoln’s Inn Fields, London WC2A 3BP


IT HAS BEEN OVER 90 years since what are thought to be the fi rst branded residences opened in New York’s Sherry-Netherland Hotel building on Fifth Avenue. Growth had been slow for years, but since 2000 this residential sector is really taking off – not just in the US, but around the world and in Asia in particular. An increasingly wealthy and mobile audience recognise and respect the world’s leading hotel brands and will trust any residential projects they develop, whether as part of a new hotel or an addition to an existing location. Knight Frank’s new ‘Branded Residences’ report reveals “there are now over 400 branded residences across the globe”. It states the global number of ultra-wealthy individuals ($50m+ in net assets) grew by 18% from 2012 to 2017 and forecasts a further 40% increase over the next fi ve years. The underlying concept is the combination of residences with luxury services managed by a recognised brand – usually a hotel company, but it can also include fashion or other luxury brands such as Bulgari or Baccarat. According to research from Savills, the number of hotel operators branding residential schemes has risen by 27% globally in the past three years, with Europe accounting for some 9% of this total. Such properties are very limited in supply and tend to come at a signifi cant premium. Some have even been reported as selling at 50% over the local rate. The concept delivers a range of advantages.


Knight Frank’s reported benefi ts include risk mitigation, improved cash fl ow, and product diversifi cation and brand enhancement for investors and developers. Buyers can expect high standards of design and architecture as well as a range of amenities and services often extending beyond what the hotel itself offers. At this market level, every detail needs to be carefully considered to justify the costs to the buyer and maintain market value. Until recently, branded residences tended to be developed at the sector’s very top – but now four-star hotels are looking to explore the sector’s potential. A key part of the offer is the highly personalised service, which inevitably comes at a cost in the form of high service charges. Analysts are concerned it could be diffi cult to deliver at a lower price point. As the Knight Frank report states: “The growth of the sector will not be without potential pitfalls. There is a danger that in democratising the concept of branded residences, developers also risk devaluing it.”


knightfrank.com / savills.co.uk


In partnership with Finchatton Twenty Grosvenor Square in Mayfair is the world’s fi rst Four Seasons private residence.


Image credit: Twenty Grosvenor Square


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