These super prime locations seem to be constantly on the rise and are deemed to be completely recession proof, such as Mayfair, Belgravia and Knightsbridge areas, of which Piperhill have 4 projects currently in progress and a handful completed this past year. Buyers are keen to snap up the right property in London to safeguard their wealth and they are coming from all over the world. This has led to a gap growing between London property prices and the rest of the UK. With overseas buyers putting billions into the market over the last few years existing properties are not on the market for long.
As a result property developments are in full swing in London’s most sought after postcodes; Mayfair, Knighstbridge, Belgravia and Kensington, in a bid to benefit from the stream of investment targeting luxury London property. These buyers feel that leaving their money sitting in the bank gives little return; instead they feel a property which will no doubt increase in value, especially when renovated, is a much more attractive proposition than just figures on a monthly statement.
Mayfair property has long been popular with banks and hedge funds and has hosted some of London’s most exclusive Hotels, restaurants and shops. According to reports, a restaurant tycoon, now a London property developer, will be redeveloping 20-21 Grosvenor Square into luxury apartments. Another Mayfair property in development is at Audley Square, which should bring a further 20 luxury London properties onto the market as well as a penthouse. These are two examples of many.
Knightsbridge is another perfect example, containing flagship stores of high profile designers such as Jimmy Choo and Prada. The department stores of Harvey Nichols and Harrods of course attract major interest for buyers from Europe and the Middle East resulting in Sales at number one Hyde Park and other luxurious developments around the area. To put matters into perspective, our recent Knightsbridge Mews House is currently on the market for an asking price of £17m.
Belgravia property is highly desired and offers secure investment opportunities for save haven-seeking property buyers. However, according to reports the price per square foot is set to rocket over the next few years due to a limited number of available luxury Belgravia properties. See our most recent Belgravia Mews project below.
Demand for Kensington property continues to increase. Some of London’s most highly-prized and established addresses, including The Phillimores and The Boltons, W8 isn’t traditionally known for its new-build stock, but a new report has flagged up that around 830 units have been completed in the Kensington area over the 3½ years to Q2 2017, with more than 500 currently under construction. These are just new builds. A fast majority of refurbishments, strip outs a basement reconstructions are forever taking place increasing the property value of most streets in the area.
Piperhill Construction pride ourselves in being one on London’s leading contractors. We are experienced and qualified to undertake all aspects of work; from new build, basement construction, refurbishment, through to fully integrated services and first class designer finishes. Whether working within design and build or traditional contracts, our unfailing aim is to meet all of our clients and their consultants requirements and to produce the highest quality finished project. Please contact us on 0208 166 5607 if you wish to discuss a project.
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