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TBS in The Times – Glitzy new developments on the rise in Fitzrovia

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Knight Frank
London and Country specialist property buying agents
19 Feb 2019  |   Thea Carroll

An article in this weekend’s FT House & Home supplement looks at the rise of glitzy new developments in Fitzrovia, but notes that it’s bohemian charm remains.

Thea Carroll is quoted discussing the new development prices have dropped and says buyers today can expect to negotiate a further 10 to 15 percent discount.

Statistics from Savills how some 56 per cent of buyers in Fitzrovia are from overseas. The largest group of foreign buyers are Indian, followed by Chinese, many of whom have children studying in the area. The proximity of institutions such as University College London are a key attraction, say agents. Thea is quoted noting interest from parents of recent LSE graduates. “They like to think their children are… in Fitzrovia with quick access to the City and Canary Wharf,” she says.

The lovely part is that despite the glitzy new developments, Fitzrovia’s appeal has not changed for decades. “You can go and make a noise down in Soho and then you can come back to Fitzrovia and get a good night’s sleep,” says Mike Pentelow, editor of the local website Fitzrovia News and a resident since 1972.

Read full article here: https://www.ft.com/content/4930cc26-2b9b-11e9-9222-7024d72222bc

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