Date Published 01 August 2016
I am pleased to announce that as a result of last week's article, I soon-after received a lot of positive responses not only towards the new property developments that I covered, but actually for the whole ‘new-build' movement currently being undertaken in Marylebone. People are showing increasing amounts of interest towards the latest new projects that are being discussed and ones which have had work started upon already. In fact I received a very interesting phone call from an international investor who has up to now resisted making an investment in Central London, but some of these upcoming new developments have certainly caught his eye and have forced him to act upon his curiosity. Although he was impressed with some of the new-builds that I wrote about in last Monday's article, this foreign investor wanted to know if these developments were the full extent of Marylebone's upcoming property expansion, or whether there was more to expect. I immediately responded to his query by assuring him that there are certainly a couple other eye-catching new developments that have graced the Marylebone market in recent years and even more interestingly, some more exciting projects are expected in the near future. A number of the new Marylebone property developments that I discussed with him included: The Montagu, 10 Weymouth Street, Clay Street, and Marylebone Square. Starting off with ‘The Montagu' then, this stunning new complex, which was completed in 2014 by Galliard Homes, is found within Marylebone village, and more specifically situated at 21 Crawford Street. There are a wide selection of superbly refurbished studio, 1, 2, and 3 bedroom apartments finished to an immaculate standard, with flats arranged upon the ground to the third floor with a lift serving all the levels. Regarding some general specifications shared by the properties here, there are solid natural oak door linings, engineered oak veneer floorings leading to the reception rooms, double glazing windows throughout, video entry phone systems, dimmer switches in the living rooms as well as being found in all bedroom lightings, and fully integrated speaker systems are a widespread feature.
Next up for 10 Weymouth Street, remodelled by the developers Ridgeford, this has become one of the most desirable property developments in the Marylebone area, becoming a unique and truly modernised building. It offers properties for people who truly understand and want to become a part of innovation, modernization and the future of the Marylebone property market. The stunning, exterior brass cladding of the building, which not only enhances and distinguishes number 10 Weymouth Street's appearance, but also carries the multi-functional disposition of reducing energy and heat loss. Even with all the tremendous new work that have been carried out, space for new redevelopments and extending innovation is an ever-present concept here and can be expressed with the developers Ridgeford who appointed the group ‘Works Architecture' to refurbish apartments G01 and 101 at 10 Weymouth Street. The space has been completely transformed into two new contemporary styled open-plan apartments, where the design of G01 capitalized on making a previously cramped 2 bedroom apartment into a spacious 1 bedroom apartment with the luxury of a walk-in steam shower. Apartment 101 has been opened up to embrace a light, roomy large hallway with the bedrooms and bathrooms effortlessly leading away from it; both apartments are currently ‘let' – which shows just how high the demand is here.
Moving onto the Clay Street development, situated upon St Christopher's Place (W1U), the developers ‘Great Marlborough Estates' have delivered upon their promises and have created a high quality property site that has complimented Marylebone's modern, but also traditional lifestyle. Work here was finished in 2014, with the result of a fantastic collection of five new townhouses, which have enhanced the surrounding urban environment and have certainly created an incredible and lasting visual attraction. Each of these new houses are endowed with four creatively thought out floors that have been imprinted with luxury, which once stepped foot within you will notice an immediate feeling of spaciousness, combined with a sense of privacy and cosiness. The exterior appearance of the development is very unique and eye-catching, where the textured brick and lime facade of the townhouses boasts clean lines, emphasized with rich timber – altogether generating a depth of character to the building along with a welcoming undertone.
Finally for the new upcoming project ‘Marylebone Square', which is an exclusive new destination in the heart of Marylebone village; this exceptional site encompasses a massive 0.75 acres and is the only new-build, whole city-block development opportunity found in Marylebone. The plans for this exciting new development, with an expected completion date by 2019, includes a new dedicated space for the popular Farmers' market with the help of the designed large double hall – ‘Marylebone Hall'. Surrounding this lavish new-build will be Aybrook Street, Cramer Street and Moxon Street – which will also see a redevelopment of its street parking to better accommodate this new project; the property site will also be set lower than these surrounding streets and accessed via a steep ramp off Moxon Street.
Some more facts about our selected new developments:
10 Weymouth Street:
The developers, Ridgeford have extended the already constructed building by more than 40,000 sq ft (3,716 sq m) of highly desirable residential accommodation and extended an office for the Architects Registration Board, designed by Ken Shuttleworth's renowned architecture practice – MAKE.
Work on the offices and the 30 luxury apartments, including four stunning penthouses, was completed in June 2009.
Rental demand has been extraordinarily strong with all the apartments being let at the specified asking prices within a month of being let loose onto the property market.
The building also benefits from underground car parking, with a total of 24 internal car parking spaces.
A short walk from Oxford Street and close by to other highly recognized London landmarks such as Madame Tussaud's, Marylebone's hospital district – particularly the reputable Harley Street and The British Museum.
Virtually every apartment has a well-sized balcony – an almost unheard of feature in this area.
The Montagu, 21 Crawford Street (W1H):
Property prices listed as: Studio flats from £730,000, 1 bedroom flats from £975,000, 2 bedroom apartments from £1,160,000 and 3 bedroom residences from £1,525,000.
Some very strong investment figures such as a projected rental return of £2,300 - £4,000 (pcm).
The development is located within 500 metres of three Zone 1 transport hubs: Baker Street Station, Edgware Road Station and Marylebone Station, with Paddington Station also within the surrounding perimeter.
There are a wide range of colleges and universities which are located nearby, or can be conveniently reached from this new development. These include: The University of Westminster (1 mile, 20 minutes walk or a 4 minutes drive), London Business School (0.7 miles, 15 minutes walk or a 4 minutes drive) and Regent's College (0.8 miles, 20 minutes walk or a 3 minutes drive).
A 24 hour concierge service is available, and also the privilege of a free membership at the Landmark Hotel as well as London's Spa and Health Club can be made use of.
The building has a lower ground floor parking facility, which can be accessed from the rear courtyard with secure car parking available – however this is for selected plots and will incur additional costs.
Clay Street, St Christopher's Place (W1U):
Each home benefits greatly from a private integrated garage – quite a rare characteristic for not only the Marylebone area, but also Central London as a whole.
There are balconies attaching themselves onto every property here, which extends the interior roominess and provides some extra outdoor space.
Large floor to ceiling windows and rear located staircases maximises the inflow of natural light into the residences, creating a bright and warm feeling throughout.
Apartments include specially designed glass partitions, which allows for a visual connection between spaces and permits light to flow around the home, whilst preserving a sense of privacy and division.
Master bedrooms enjoy generously-sized en-suit bathrooms, while the secondary bedrooms still provide a great sense of luxury with their own en-suit shower rooms instead.
Located moments away from Marylebone's world renowned hospital district, as well as some interesting attractions including: The Wallace Collection, Chiltern Firehouse and the amazing shopping experience of Oxford Street.
This site will be constructed from the highest quality natural materials, and its goal is to be a dashing as well as contemporary building that will enhance the fine architectural portfolio of Marylebone.
The proposed plans comprise of 54 private residential apartments finished to a very high standard, as well as 25 other more affordable – but nonetheless luxuriously modern residential flats.
There will be a range of parking spaces available, including 58 private underground car spaces exclusively for residents and those involved with the development, along with 95 further parking areas for the public – such as those visiting the area.
A selection of commercial and community units will be provided at street level, which will allow for some business opportunities beneficial both to the public, as well as those wishing to start a new enterprise.
The development is very energy efficient, utilising CHP for its plant photovoltaics on the roof, and bio-diverse planted terraces on the upper levels, as well as being particularly thermally competent in its design and construction.
As we can see, there are some very exciting existing, as well as upcoming property developments encompassed within the Marylebone market, which shows us that investing in Marylebone is becoming an increasingly attractive prospect. Property investments in Marylebone have transcended merely buying and letting out newly acquired properties, but has become a way of securing a future in one of the most promising – and ever-growing markets in Central London. New-home developments in Marylebone encounter exceptional demand, for they are increasingly being built with such a intriguing style and luxurious build quality, combined with this highly popular area that they are situated upon. There really hasn't been a better time to get involved in the Marylebone property market and especially the new-build investment scene, where the variety and list of new and upcoming developments are becoming elongated and improved upon all the time.
Should you wish to learn more about any of these new property developments, or possibly some other upcoming Marylebone new-builds - or ones that are already on the market, then please feel free to contact me at any time. As we have seen in this article, new homes in Marylebone enter and leave the market at a rapid pace in comparison to other property types, and it is integral that after noticing a ‘new home' investment prospect that interests you, that you register your interest quickly.