Bayswater has long been considered an undervalued part of the capital. And is proving increasingly popular thanks to its central London location, close proximity to Hyde Park, as well as good transport links.
As interest rise rates are raised after a decade, we talk to Kay & Co’s Sales Manager, Joe Le Beau (pictured below, left), who has worked in the area for seven years and Lettings Manager Sarah Bikhit (pictured below, right), who has worked across W1 and W2 for five years. From their combined experience, they pick their favourite investment hot spots around Bayswater and Connaught Village.
1. Inverness Terrace, London W2
There is still lots of potential along Inverness Terrace, an attractive road of tall, Georgian town houses in W2. It runs parallel to Queensway, with a good mix of shops and connects Hyde Park in the south with the Westway arterial route at its northern end. “Investors have taken an interest in the area, buying tired hotels and transforming them into stylish apartments,” explains Sarah Bikhit. Buyers appreciate the beauty of their architecture. The area is still considered to be undervalued with good potential. This smart duplex penthouse has three bedrooms and is on the market for £4m. For more details, click here.
2. Westbourne Grove, London W2
“Westbourne Grove is close to the A40, and to Paddington Station,” explains Joe Le Beau. “Crossrail is coming here, too, which means extra services to Heathrow.” The Crossrail effect has seen prices along the route increase by 66 per cent since 2009 – that’s 15 per cent more than in the rest of the capital, according to a recent article in the Daily Telegraph. Once the trains are running towards the end of next year, more people are likely to be attracted to the area. The ripple effect from Notting Hill is also making waves here. This attractive mews house has three bedrooms and is on the market for £1.995m. For more details, click here.
3. The Lancasters, London W2
The Lancasters are the crème de la crème of Lancaster Gate – numbers 75-89, overlooking the park, were redeveloped into 77 apartments in 2011. The gracious façades were kept intact while the rest of the buildings were completely remodelled. The project – considered to be the first super-prime development in W2 – turned the spotlight on Lancaster Gate and the attraction of these period properties near Hyde Park. The flats were snapped up and their value has continued to increase over time. This penthouse close to Marble Arch is for sale. For more details, click here.
4. Westbourne Terrace and Gloucester Terrace, London W2
“Buyers are falling back in love with period properties, adds Joe Le Beau. “They like the historical details to go hand in hand with more thoroughly modern touches. Renovated properties can sometimes command higher returns than some new-builds.” Westbourne Terrace and Gloucester Terrace both have beautiful buildings, with their white stucco facades, ornate balconies, classical porches and bay windows. The black railings and basement steps are straight out of a period drama. This fourth-floor apartment with a lift is on the market for £450,000. For more details, click here.
5. Bayswater Road, London W2
“The area has changed significantly over the years, both in price and added kerb appeal,” adds Sarah Bikhit. “It is sandwiched between Notting Hill and Marylebone, which has seen significant growth over the years. With a local regeneration project promising an overhaul of shopping malls and some of the buildings in the area, things are looking up in Bayswater.” Many properties overlooking Hyde Park have been renovated and turned into smart apartments, popular with buyers. This modern town house is an end of terrace on the Bayswater Road corner, giving great views of Hyde Park from the roof terrace. It’s on the market for £6.95m. For more details, click here.
6. Around Whiteleys/Queensway, London W2
Whiteleys shopping centre started life as an upmarket department store in 1911. It then became a mall in 1989. Now new life is being injected into the shopping centre with £1bn proposal for a mixed-use scheme, opening onto Queensway, which is also being redeveloped. The location is perfect, close to the park, rail links and with easy access to the shops. Garden House, overlooking Kensington Gardens, is a development with one-, two- and three-bedroom apartments for sale. Prices range from £650,000 to £2.2m. For more details, click here.
7. Lancaster Gate, London W2
“Lancaster Gate is the jewel in the Bayswater crown. The grand stucco terraces were built in the 1850s and the facades have remained largely intact,” explains Sarah Bikhit. Here, you are just five minutes further from central London than Mayfair. You are across the road from Hyde Park, close to transport links and have an abundance of shops, bars and restaurants to the east and the west. It’s a popular area for renters – this two-bedroom apartment can command around £1,250 a week. For more details, click here.
8. Connaught Village/Connaught Square, London W2
If it’s good enough for Tony Blair … Connaught Square was the choice of the former prime minister. Many of the houses here look very much like No 10 Downing Street. But, if you want to rub shoulders with the movers and shakers, Connaught Square gives you the cachet without the cash. Prices are about half those in Mayfair, streets are leafier, and roads are wider. You can buy a four-bedroom property on Connaught Square for £6m, whereas it might be on the market for £12m in Mayfair. There’s a great community buzz, with residents holding an annual summer party in the communal gardens. Connaught Village will have a new set of Christmas lights this year, which will be unveiled with local choir singers and charity partner Cosmic on November 23. Kay & Co will be hosting Christmas Grottos at the Kay & Co office on Paddington Street, W1 on November 15 and at the Albion Street office, W2 on November 23. And if you are house-hunting in the area, here is a town house that is on the market for £6m. For more details, click here.
• Contact Kay & Co estate agents for details of properties for sale or to rent in Marylebone, Bayswater, Paddington, Notting Hill, Mayfair, Hyde Park, Fitzrovia, Regents Park and The West End (020 7262 2030; Kay & Co).
Thinking of buying in Bayswater and Connaught Village? Read top tips from Joe Le Beau and Sarah Bikhit.
• Outside space is a big bonus if you can find it.
• Look for period conversions. High ceilings are always popular and the first floor or second floor are often in demand, too.
• If you have the option of a parking space, then buy it. You can let it or sell it later. Even if you don’t want it, buyers or renters usually do. Don’t miss this opportunity.
• You often find that the raised-ground floor flat covers the footprint of the whole building. It’s light and bright, with high ceilings. That’s usually a winner with buyers.