Luxury London Property Bouyed By Foreign Cash

Luxury London property is being buoyed by an increasing number of cash-rich foreigners, who in some cases are willing to pay above the asking price for the best properties the capital has to offer.
The lack of supply means good quality property in areas like Knightsbridge and Chelsea is attracting a flurry of interest as soon as it hits the market. Rich buyers are increasingly engaging in competitive bidding and even gazumping.

Foreign Buyers Keep Knightbridge Property Market Close to 2007 Levels

Foreign buyers are currently making the majority of all property purchases in prime London areas such as Chelsea, Knightsbridge and Hyde Park, reports property consultants Cluttons.

Despite the fact that prices have held firm in these traditionally upmarket areas, foreign buyers are prepared to pay a premium to secure the property they want as a result of considerable savings being made on the currency exchange.

Despite the downturn, London is still viewed by foreign buyers as one of the most desirable places in the world to own property, particularly those from Europe and the Middle East who are taking a long-term investment view.

They want to buy in traditional prime locations which have limited stock and little new development, resulting in a strong level of demand.

Prices in such areas have fallen little over the last two years, due to the fact that the majority of these property owners have owned their properties for some time and many are unaffected by the employment market or mortgage availability and have not needed to sell.

They have been in a position to hold out until the market picks up, and with foreign interest now reaching new heights, prices are close to 2007 levels.

Belgravia

The Grosvenor family inherited 400 acres of land between Buckingham Palace and Sloane Street, from the Thames as far north as Knightsbridge. This ultimately became Belgravia and Pimlico. In medieval times the Belgravia area was known as the Five Fields. In the 18th century it was just a wasteland used for grazing sheep. It was a dangerous place for respectable people to go. One of the bridges over the West Bourne river was called Bloody Bridge because of the number of violent robberies there. It was an area for highwaymen and footpads. It appealed to the aristocracy only as a popular area for duels, sufficiently far from civilization.

The catalyst for turning this area from a wasteland into a thriving residential district was the decision by George IV to build a new palace on the site of Buckingham House in 1819 and to move the court there.

In the 1820s Lord Grosvenor decided to develop the area as an estate to rival his existing estate in Mayfair. He came to an agreement with Thomas Cubitt. Over the next 30 years Belgravia was constructed and was immediately fashionable. Cubitt provided the estate with good quality services such as sewers and gas lighting, and well-constructed streets and pavements. Originally the area had gates and bars across the entrance of the estate to keep out undesirables and heavy traffic.

The estate was named Belgravia after Belgrave, a village on the Grosvenors’ family estate in Leicestershire.

Knightsbridge lettings agents: lettings in London SW7

Knightsbridge boasts some of London’s most expensive and well-known designer boutiques in Sloane Street and of course the world famous Harrods and Harvey Nicholls department stores. Stretching from Hyde Park Corner to Kensington Road, it represents the height of London’s extravagance in designer fashion.

Knightsbridge homes range from picturesque pastel mews houses to imposing redbrick mansion blocks.

Lettings in Knightsbridge SW7

Knightsbridge – playground of the wealthy and gloriously connected.

Who’d have thought that an area once famous only for its numerous drinking holes and highwaymen would become the Shangri-la for the capital’s rich and well-heeled? But Knightsbridge has long since managed to shrug off its less salubrious beginnings and built up a reputation reliant on the finer things in life.

Just take a look up Brompton Road and Sloane Street to get an idea of the clientele the area is trying to attract – the biggest names in fashion lay side by side, protected only by thick, frosted glass and burly doormen.

Christian Dior, Chanel, Prada and Gucci fly the flag for glamour and decadence so if you’ve got the cash make the most of the beautiful, beyond expensive, wardrobe additions laid out for your delectation.

If the thought of all those big name shops is just TOO intimidating why not make one stop at A La Mode where you’ll find all manner of top notch, named clothing plus beautiful, beautiful girly shoe creations by Posh’s fave, Gina. For beige and navy fans, who prefer their clothing to err on the safe side, there’s Nicole Fahri and Emporio Armani while eclectic bohos with a big bank balance or an understanding partner/relative could try getting through the door of Voyage.

Travel Links to Knightsbridge

• Knightsbridge (Piccadilly Line)

• Victoria Railway Station

• Motorway Junction M4 Junction 1

• Airport London City

Belgravia lettings agents: Lettings in London SW1

Centred around Belgrave Square, the area known as Belgravia is home to senior politicians, lawyers, industrialists and there are several embassises here. Properties in Belgravia are predominantly white stucco-fronted buildings which are in high demand. Combine this with Belgravia’s close proximity to Knightsbridge and Chelsea, ensures high rental level.

Pubs, Bars, Cafés And Restaurants In Belgravia

The Barley Mow
104, Horseferry Rd, Marylebone, London, SW1P 2EE
Tel: 020 7222 2330

Marquis Of Granby
41, Romney St, Marylebone, London, SW1P 3RF
Tel: 020 7227 0941

Surprise
110, Vauxhall Bridge Rd, Pimlico, London, SW1V 2RQ
Tel: 020 7828 5322

Marquis Of Westminster
50, Warwick Way, Pimlico, London, SW1V 1RY
Tel: 020 7834 4339

Duke Of Wellington
63, Eaton Terrace, Belgravia, London, SW1W 8TR
Tel: 020 7730 1782

The Gallery
1, Lupus St, Pimlico, London, SW1V 3AS
Tel: 020 7821 7573

J.D Wetherspoon
Unit 5, Victoria Island, Victoria Station, Victoria, London, SW1V 1JT
Tel: 020 7931 0445

Colonies Public House
25, Wilfred St,Westminster, London, SW1E 6PR
Tel: 020 7834 1407

The Red Lion
2, Duke Of York St, St. James’s, London, SW1Y 6JP
Tel: 020 7321 0782

The Greencoat Boy
2, Greencoat Place, Marylebone, London, SW1P 1PJ
Tel: 020 7834 7894

Cafe Churchill
49, Parliament St, Westminster, London, SW1A 2NH
Tel: 020 7930 7676

Santini Restaurant
29, Ebury St, Belgravia, London, SW1W 0NZ
Tel: 020 7730 4094

Bombay Curry Restaurant
25, Churton St, Pimlico, London, SW1V 2LY
Tel: 020 7821 8320

Flamenco Restaurants
54, Pimlico Rd, Belgravia, London, SW1W 8LP
Tel: 020 7730 4484

Garfunkel’s Restaurant Plc
122, Victoria St, Westminster, London, SW1E 5LA
Tel: 020 7834 5124

Palace Restaurant
13, Buckingham Palace Rd, Belgravia, London, SW1W 0PP
Tel: 020 7828 0198

Noodle Noodle
312, Vauxhall Bridge Rd, Pimlico, London, SW1V 1AA
Tel: 020 7828 8565

Jindalle Restuarant
6, Panton St, St. James’s, London, SW1Y 4DL
Tel: 020 7930 8881

Noodle Noodle Restaurant
18, Buckingham Palace Rd, Belgravia, London, SW1W 0QP
Tel: 020 7931 9911

The Thomas Cubitt
44, Elizabeth St, Belgravia, London, Sw1w 9pa
Tel: 020 7730 6060

Foliage
66, Knightsbridge, London, SW1X 7LA
Tel: 020 7201 3723

Amaya Restaurant
15 Halkin Arcade, Motcomb St, Knightsbridge, London, SW1X 8JT
Tel: 020 7823 1166

Como Lario Restaurant
22, Holbein Place, Belgravia, London, SW1W 8NL
Tel: 020 7730 2954

Luciano
72-73, St. James’s St, Westminster, London, SW1A 1PH
Tel: 020 7408 1440

Shepherd’s Restaurant
Marsham Court,Marsham St, Marylebone, London, SW1P 4LA
Tel: 020 7834 9552

Travel Links to Belgravia

• Hyde Park Corner (District & Circle lines), Victoria (District, Central and Victoria lines)

• Victoria Railway Station

• Motorway Junction M4 Junction 1

• Airport London City

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