Marylebone property gets a spring in its step
A recent article in the Financial Times, quoting London’s leading estate agents, has reported an ‘uptick’ in property activity during the final quarter of 2016, leading to renewed hopes for a busy spring.
Agents canvassed in the article – including Lurot Brand’s own General Manager, James Robinson – noted a modest rise in Marylebone property sales late last year, despite the challenges of Brexit and a rise in stamp duty.
With 80% of its properties priced between £1m and £5m, Marylebone proved vulnerable to the stamp duty increase of April 2016, so sellers will no doubt welcome this early indication of a revival. The FT article also commented on the fact that Marylebone – together with many other Central London areas – is set to benefit from Crossrail’s new Elizabeth Line, due to open in 2018. The new line promises faster journey times to Heathrow and better connections to the east and west of the capital.
It was Marylebone’s proximity to London’s attractions that enticed its first residents. The Portman and Howard De Walden estates – who still own much of the area today – began to build elegant terraces and squares here in the 18th century, tempting some of the capital’s wealthiest citizens. The area went on to grow in reputation and popularity, earning a reputation as London’s medical quarter in the late 19th century.
Marylebone experienced fluctuating fortunes during the 20th century but following some re- investment by the Howard De Walden Estate in the 1990s, the High Street (recently acclaimed as “the best high street in London”) and nearby Chiltern Street are now havens for trendy independent shops, galleries and restaurants.
This sought-after area is well known for its attractive mews streets, housing city workers, overseas investors and those looking for a pied-a-terre close to the capital’s most exclusive shopping districts. If you are looking for a Marylebone mews property for sale, this beautifully presented three-bedroom house in Thornton Place with its own garden – just a few minutes’ stroll from Regent’s Park – ticks all the boxes.
Want to rent a London mews? Mansfield Mews is a fantastic, two-bedroom property for sharers, or couples who want to enjoy all that this stylish area has to offer.
Spring is just a few weeks away now, so make sure you’re not left out in the cold when the property market starts to heat up. Call us at Lurot Brand today to view desirable Marylebone mews properties to rent or buy.