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Are Garden Squares Undervalued In West London?

Posted 14 August 2020 by Keith Osborne

Pantazis Therianos of Euroterra Capital on his love of Notting Hill’s garden squares as places to live and invest...

We recently met up with Pantazis Therianos of Euroterra Capital for a whirlwind tour of the Notting Hill area and to talk about his love of the area’s garden squares for living and investment.

Heading east from Notting Hill Gate he pointed over the road to Clanricarde Gardens and explained that this is where he lived when he first moved to the UK, and that W2 has remained his favourite part of the city, stretching east to Marble Arch and north to Lisson Grove and Westbourne Green.

Since establishing Euroterra Capital 11 years ago, he has been focusing on property in some of the squares in the area, which he believes are still underappreciated and undervalued compared to neighbouring parts of west London, such as Kensington and Holland Park.

Notting HillNotting Hill from the air

“The reason we invest in these areas is that we are next to Hyde Park, where we have nine tube stations, so the transportation is amazing,” he said. He also pointed out the significant investment in regeneration of Notting Hill Gate itself and nearby Queensway and Whiteleys. Crossrail is also coming to Paddington, just one mile away.

As we passed down Kensington Palace Gardens, a ‘Billionaires’ Row’ which is and has been home to numerous embassies, oligarchs and industry leaders (names such as Abramovich, Ecclestone and the Sultan of Brunei), we talked about the property investment market.

“We are used to having buyers from overseas because they would like an investment in prime central London. I believe London is the safest haven for an international property investor and I believe it is a multicultural city. People will always come here as education is very, very important. Everybody from all over the world wants to come here to study in London.”

As we walked past Kensington Palace itself, Therianos listed a host of elements that continue to attract interest from overseas. London’s history and culture, taxation and immigration policies, the health system and a trust in things such as property law and regulation.

Investors have remained interested despite lockdown and its effects on the construction sector. Political unrest in Hong Kong has seen sustained interest from a part of the world with historical strong ties and relationships with the UK.

Leaving the park, we visited a completed Euroterra development at Prince’s Square. This is a collection of 12 two- and three-bedroom rental apartments, with roof terraces for the penthouses. He said that some residents have been here for five years and remained for access to the garden square, created in the mid-1800s and thoroughly refurbished to pristine condition over the last few years.

Demand for homes in this kind of location is not just from international investors, he added: “In what we do, specialising in garden square developments, we have a lot of interest from local people. They understand more the need of a garden, a rooftop and of a balcony.

He believes buyer interest in this kind of location will not be diminishing, not just for annual returns (nearer 4% in this area, compared to a typical 1.5%-2% in other high-end neighbourhoods) but for long-term rewards. “They are more happy to invest in prime central London and what we do because they see the value. Usually the properties in garden squares trade at a 20% premium but we expect this to go higher because the demand is massive at the moment, with the situation we have.”

 

Palace Gardens Court, Clanricarde Gardens

Palace Gardens CourtThe development is located in a street which recaptures the elegance of Victorian England and comprises two former grand Victorian townhouses, tastefully remodelled into luxury apartments. Residents can access the roof terrace and enjoy the sweeping views across London, including a 24-hour porter service and residents’ gym. The building is surrounded by the Embassies of China, Russia, Liberia and Switzerland, which provides an extra level of public security and overall safety to the area.

One-bedroom apartments for sale start from £1.15 million, or to rent from £650 per week

 

Prince’s Mansions, Bayswater

Prince’s MansionsOverlooking Kensington Gardens, this is a classic mid 19th-century white stucco-fronted Victorian building with entrance porch and original cornicing, which are listed with the English Heritage Collection. The building offers one-bedroom apartments and maisonette penthouses with a roof terrace and excellent views over the famous London skyline. This is all in addition to private access to the highly sought-after garden square. Situated a stone’s throw away from Hyde Park, residents will be part of a dynamic social community in an area that is renowned for its eclectic blend of stylish stores and picturesque scenery.

One-bedroom apartments for sale start from £950,000, or to rent from £650 per week

 

Find out more at www.euroterracapital.com.

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