Top-end specialist real estate developers in prime Central London have been responding to a growing requirement from Asian purchasers to develop the latest new-build properties across one level.
This is a groundbreaking move away from the more traditional London townhouses that encompass several stories and lots of stairs.
Wendy Tang of Knight Frank Singapore said: “In Singapore buyers prefer single level, large open-plan penthouses over duplex or triplex apartments,” and it is this preference that is now influencing construction trends in London as more Asians use their purchasing power in London.”
One example is The Lancasters, Hyde Park (pictured), developed by Northacre. It is the epitome of prime residential landmark living in London. The 77 large imposing lateral and duplex apartments are located behind an original Georgian Grade II façade and boast southerly views onto Hyde Park.
A total of 75 percent of the units have been sold to date with some 18 percent being purchased by Asian buyers. The scheme has the added appeal of having a bespoke penthouse designed by the world renowned architect and craftsman David Linley, nephew to Her Majesty Queen Elizabeth II.
Klas Nilsson of Northacre said: “At The Lancasters we have designed five lateral apartments ranging from 1,850sq ft to 3,850sq ft that have stunning views over Hyde Park. To create the desired lateral style apartments within an existing building’s framework was an exciting challenge. We broke new ground in this area and were one of the first prime developers to embrace the ‘lateral living’ concept. It is this lateral layout that has appealed most to our foreign purchasers – and sold particularly well to many Asian buyers.”
Set in the prestigious area of Mayfair, the apartments at Great Cumberland Place are located a few minutes’ walk away from Marble Arch, Oxford Street and Hyde Park. The area is renowned for being a favourite of top-flight celebrities, including Madonna and the former British Prime Minister Tony Blair. This prime development offers six individually designed two- and three-bedroom apartments set behind a stylish period façade.
Martin Bikhit of sales agents Kay & Co said: “This development is one of only a handful in prime W1, and is of particular interest to Asian investors as it offers an opportunity to buy lateral space across two period buildings, with the luxury finish and modern conveniences of a new build development.”
The Chelsea Townhouses, Pond Place are situated in the heart of Chelsea – a rare find in central London. The three state-of-the-art new-build properties were developed by Morpheus, and offer four en-suite bedrooms including a generous master suite and secure off-street parking. They will available to purchase in May 2012.
Andrew Murray, founding director of Morpheus, said: “The Chelsea Townhouses are three chic and sophisticated residences in the heart of Chelsea. Anderson House, Beau House and Chapman House are a rare find; three beautifully-designed, new-build central London properties that are modern, spacious and secure. The properties offer lateral living in a townhouse setting.”
Adding that London continues to set the benchmark in the prime residential space, Murray continued: “Morpheus specialises in this area, and properties such as The Chelsea Townhouses are expected to be of particular interest to these international markets, in particular the Asian market which is experiencing rapid growth. Their preference for spacious and modern properties such as these is in line with our proposition.”
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