29
London’s prime property market is forecast to grow strongly in 2022 Prime residential property price growth
3
THREE OF LONDON’S LEADING BUYING AGENTS
Sophie Rogerson
2021 was a record-breaking year for global M&A activity Annual total value of global mergers and acquisitions
4
RFR Property Considered ‘super-bright’, Sophie Rogerson is poised and technically proficient. ‘Clients love her,’ says one senior lawyer. She often searches off-market for her client base and is a former Macfarlanes lawyer, like her husband and business partner Richard.
and executives bank windfalls from major deals. Analysis by Refinitiv (chart 4) found that by 23 November 2021, the global value of mergers and acquisitions in 2021 was already the highest on record for a single calendar year, up 39 per cent on the whole of 2019. This is already having a knock-on effect,
says Jo Eccles, founder of buying agency Eccord. ‘The boom in M&A activity has created significant demand for properties in the £10 million to £20 million range, as entrepreneurs who have experienced liquidity events look to invest their gains. ‘We’ve also seen a lot of interest in trophy assets – best-in-class properties worth £40 million or more – which are perceived by UHNWs as a safe place to park considerable sums, and which serve as a hedge against high inflation.’ Giles Hannah, residential executive
development director at the Red Sea Development Company, agrees. ‘Supply issues remain for trophy assets. This will drive demand and prices upwards in 2022,’ says Hannah, who plied his trade in the upper reaches of the London market for several years before taking up an international role in Saudi Arabia. ‘The majority of UHNWIs internationally and
domestically have essentially become wealthier during the pandemic. There is now the emergence of a next generation of young billionaire linked to technology and online trading also looking to purchase or rent in prime central London.’ Hannah notes that – both for sale and rent – demand is particularly acute for ‘penthouses, contemporary houses with lifts and private gardens, and those situated in garden squares with mews houses at the rear for their staff to service the main residence securely.’ Knight Frank’s longer-range forecasts posit 18 per cent growth in prime London property, and 24 per cent growth in prime central London over the next five years. ‘We’re forecasting that prime central
London will be the top performing region in the UK,’ says Clacy of Savills. ‘When we saw that mini bounce at the beginning of 2020, that showed that central London was ready for its recovery, and that’s just been put on hold by the pandemic. So it’s definitely overdue its time in the limelight.’ Not everyone, however, is convinced.
Independent buying agent Nathalie Hirst is resigned to continued uncertainty related to the pandemic. ‘Who knows?’ she asks. ‘It’s impossible to predict. I think anyone who tries to is a fool.’ S
Alex Stroud
Stroud and Fuller A self-confessed ‘workaholic’, the gregarious Alex Stroud has transacted more than 185 properties over the past decade. His vibrant new partnership with fellow agent Johnny Fuller is perfectly positioned for the prime London market.
Caroline Takla
The Collection Fluent Arabic speaker Caroline Takla occupies a sophisticated niche, having set up her firm in 2009. She has presided over acquisitions worth £750 million for HNWs hailing from 40 countries, including royalty, UHNWs and Bollywood stars.
Source: Refinitiv, an LSEG business
Source: Knight Frank Global Forecast
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