They are some of the capital’s best addresses. Streets in central locations with beautiful buildings attracting everyone from celebrities to politicians. But they are some of our fastest selling streets, too.
It might be their rarity value - maybe they occupy a prime position overlooking a quiet garden square. Or perhaps, they are located near outstanding schools, a row of fashionable boutiques or A-list restaurants.
Why do some homes sell quickly? It is a combination of all these factors. “Properties in these locations don't come up very often,” explains Martin Bikhit, Managing Director of Kay & Co. “Many feel quintessentially London, usually sell before you know it and at record prices.”
Here are some of our five fastest-selling streets across Connaught Village, Hyde Park and Marylebone with properties that make them stand out from the crowd.
1. Connaught Square, London W2
All London squares are sought-after yet this one is considered undervalued, especially as it is home to the likes of former prime minister Tony Blair and TV presenter Claudia Winkleman. Also in its favour is its proximity to central London. Nearby Portman Village is being given an overhaul and Marble Arch Tower is having a facelift, which should add further appeal to this often-overlooked neighbourhood. It has green views, a prime central position and the kudos of living close to an ex-PM and celebrities.
“We recently sold an unmodernised house for around £6m and found a buyer within a couple weeks,” adds Martin Bikhit.
• With a potential seven bedrooms over five floors, this classic town house has recently sold after being on the market for £6m. Click here for more info.
2. Hyde Park Gardens, London W2
Directly overlooking Hyde Park, this grand terrace of stucco-fronted town houses is in a prime position. Many of the houses have been turned into apartments and they often sell to celebrities and foreign royalty. Keira Knightly has lived there, as has Queen Noor of Jordan. The communal gardens
offer a secluded woodland walk as well as sunny lawns.
“We achieved a record rent of £3,250 per week, a £1,000 more than a rival agent’s valuation,” explains Martin Bikhit. “It was let to the first person who viewed it within a couple of weeks of going on the market.”
• This three-bedroom penthouse is on the market for £6.5m.
3. Chiltern Street, London W1U
Chiltern Street is full of quality boutiques and boasts the Chiltern Firehouse. If you like to spot celebrities, there’s no better eating place. Bookings usually have to be made months in advance, but if you are on the doorstep, you’ve no reason not to get your name down. The “firehouse factor” makes this a desirable street to buy that is always in demand.
The average price of an apartment on this street is £1.5m. A two-bedroom property has recently been snapped up after going on the market for £995,000. But there’s a two-bedroom duplex for £5.25m and a two-bedroom flat for £1.3m – although this went under offer within four weeks.
4. Montagu Square, London W1H
This refined square of Regency-style terraces was built between 1810-1815. Some 200 years on, Montagu Square is just as desirable with its archetypal London charm. The houses face onto a leafy and tranquil communal garden which is open
to the public once a year for the Open Garden Squares Weekend (June 9-10 in 2018).
“Flats generally command north of £2m and town houses more than £10m,” explains Martin Bikhit.
“Kay and Co recently achieved a new record, just shy of £2,500 per sq. ft for a first and second-floor
duplex property. It sold to the first person who viewed it within a week.”
Kay & Co has a two-bedroom duplex for sale here for £4.5m. Click here for more info.
5. Portland Place, London W1B
This is a wonderfully wide street lined with many Georgian houses, as well as later architecture and several post-war buildings. A number of the buildings are no longer residential, which means that those that are left often sell faster. The central location is ideal for Regent’s Park and Marylebone and Mayfair. The flat is for sale here, but won’t be on the market for long.
• 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, Paddington and The West End (020 7262 2030; Kay & Co).