Harry Gladwin of The Buying Solution speaks to Alexandra Goss of the Financial Times on the cooling down of rural hotspots.
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Harry Gladwin of The Buying Solution speaks to Alexandra Goss of the Financial Times on the cooling down of rural hotspots.
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The Buying Solution speaks to Annabel Dixon of Country Life magazine about the value buying agents add when purchasing a property.
Read more in the 10th April 2024 edition.
Harry Gladwin of The Buying Solution speaks to Annunciata Elwes of Country Life on current property trends.
Read more in the 27th March issue.
The Buying Solution speaks to Anna White of The Telegraph on affordable places to live close to great state schools.
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Harry Gladwin of The Buying Solution speaks to Anna Tyzack of Country & Townhouse on why Americans are purchasing property in the Cotswolds.
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You may have visited some of the beautiful villages in the Cotswolds, but did you know that a significant value gap has opened up between property prices in the North and South Cotswolds – particularly at the top end of the market?
Using the A40 road as the dividing line separating the two regions, a classic seven-bedroom country house with stables and ancillary accommodation set over 50 acres might cost between £3m and £4m in the south, but that price can rise to as much as £5m to £10m in the north. We asked Harry Gladwin, our expert buying agent in the region, to explain what’s happening.
North Cotswolds
The popularity of the North Cotswolds and upward pressure on house prices began to take off in earnest at the beginning of the 2000s when City financiers and hedge funders ‘discovered’ Notting Hill. For them, the easy drive down the A40/M40 to Oxford, Chipping Norton and its environs encouraged those in search of a weekend retreat to settle there.
It’s home to many global movers and shakers. If a client has a house in West London and a holiday home in somewhere like, say, Miami or Ibiza, there is a good chance they also have a property in or near the most sought-after villages here. Charlbury, Kingham, Stow, and Oddington are places that are currently soaring in appeal amongst this international audience. To give an idea of demand in these areas, a recent house came on the market for £4.5m and sold almost immediately off-market to a buyer for 20% over the guide price.
So, what else makes this region attractive? The truth is, it’s easier to acclimatise to country life when you live in the North Cotswolds. All of the amenities you would expect from living in a city can be found here. A client once commented, ‘It’s green, but we can get a great flat white, and the internet is fast’!
The new breed of pubs and restaurants offer excellent food, often with a focus on seasonal and local produce and an impressive selection of wines and ales. A popular new opening is The Bull in Charlbury, which was taken over by the team behind the recently launched Notting Hill gastropub, The Pelican.
The allure of the North Cotswolds was given an extra boost by the opening of the private members’ club Soho Farmhouse at Great Tew in 2016. For many of our buyers, it ticks all the boxes. Other openings that have created a buzz include Estelle Manor, Restoration Hardware, Daylesford, Quince and Clover and farm shops from The Cotswold Guy.
Next is education. The school offering in Oxford as an alternative to educating children in the capital is seriously tempting, with the Dragon School, being one of the most popular choices near the border. Our clients also recommend Kitebrook Prep School in Moreton-in Marsh and Windrush Valley School near Chipping Norton.
Another key factor has been the improved train times along the Chiltern line, which has considerably reduced travel times to London Marylebone from Banbury, Bicester, and Oxford Parkway. The fact that you can now do this journey in under an hour proves extremely attractive to city commuters. Added to that was the opening of the spur line, which connects Oxford and Bicester Village to the Chiltern mainline. This gives the added advantage of choice for commuters to travel either into Marylebone or Paddington via Oxford, Charlbury and Kingham.
South Cotswolds
If the profile of a North Cotswolds buyer has evolved to lean more towards families with young children wanting access to good schools, gastropubs, and connectivity, then we cross the A40 and discover a region where country sports are more prevalent and it’s better suited to those looking for a more rural lifestyle.
The southern region of the Cotswolds has tended to attract more buyers with equestrian or polo interests with Cirencester Polo Club and Beaufort Polo Club on the doorstep, as well as eventing at Badminton and Gatcombe Park.
It also has popular prep schools, including Pinewood and Beaudesert, as well as access to Marlborough College, Westonbirt, St Mary’s Calne and the Cheltenham schools (Cheltenham Ladies’ College, Cheltenham College and Dean Close).
Tetbury is an attractive town for antique shops, and Cirencester continues to expand. Meanwhile, Kemble station is another big draw for commuters, as fast trains take only 80 minutes to London Paddington.
Like the North, the South Cotswolds has beautiful countryside with the additional attraction of the Cotswold Water Park for those who are interested in water sports. There are fewer gastropubs in this area, but Calcot Manor, Barnsley House, Thyme at Southrop, and Cowley Manor offer good alternatives to Daylesford and Soho Farmhouse.
As regional cities and airports such as Bristol and Birmingham grow, Cheltenham will become even more attractive to buyers. At the western edge of the Cotswolds Area of Outstanding Natural Beauty, Cheltenham is an excellent alternative schooling hub to Oxford The town’s most desirable areas range from between £400 and £500 per sq ft. Equivalent prime areas of central North Oxford are twice as expensive. That means it is possible to trade a good-sized London house for a family house in Cheltenham and have a substantial amount of change to spend on other things, such as the children’s education.
What remains true of both Cotswolds regions is a long-term shortage of houses coming to the market. Best-in-class houses continue to sell quickly and often off-market. Therefore, be prepared for fierce competition if buying in either the north or the south.
If you need help with your countryside search, don’t hesitate to get in touch with The Buying Solution, and we’d be delighted to discuss your needs.
Harry Gladwin of The Buying Solution speaks to Melissa York of The Times about the changes to Stamp Duty and how this could affect you.
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Will Watson of The Buying Solution speaks to Liz Rowlinson of the FT on the appeal of Notting Hill, London.
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Will Watson of The Buying Solution speaks to Olivia Lidbury of The Telegraph on the appeal of dressing rooms and how to create one on a budget.
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Knightsbridge, the epitome of luxury and exclusivity in London, has long been synonymous with affluence and a vibrant social scene. However, in recent months, there has been conjecture about whether this prestigious neighbourhood has lost its charm.
Will Watson, our Head of London, recently featured in the Financial Times commenting that ‘Knightsbridge is not the bullseye of prime central London that it used to be’ and predicted that ‘prices could drop more this year’.
His article sparked a flurry of social media comments from our followers saying Knightsbridge ‘is no longer the English enclave that it once was’, ‘it has lost its identity’ and ‘it has become a boring part of town’.
So, what exactly is going on in SW1X? Will, who has worked in the prime central London market for over 20 years, shares his top insights.
The rise of new hotspots
As Knightsbridge remains a globally renowned London beacon for real estate, other areas in London have caught up and emerged as new hotspots for luxury living and investment.
While Hyde Park offers a green oasis in the heart of the city, green spaces within Knightsbridge itself are limited. This lack of greenery can be a downside for nature lovers or those seeking a more private garden.
Although demand for pied-à-terre apartments in Knightsbridge remains strong, younger families, including clients we’ve had from the Middle East – where Knightsbridge has always been their preferred location – are looking to buy houses with a wider footprint in the greener areas of Notting Hill, Kensington or Holland Park.
It depends on where in Knightsbridge
To say Knightsbridge is ‘boring’ or has ‘lost its appeal’ is an overstatement. Geographically, Knightsbridge is barely 1.5km wide, 600m deep and sandwiched between Hyde Park, South Kensington, Chelsea and Belgravia. However, even in this relatively small territory, there are a range of quarters, each with its own identity and community. For example, the West Side of Knightsbridge heading towards South Kensington has a very different feel compared with the North Belgravia border.
For many, the Cadogan Estate is one of the most sought-after areas in central London. Close to some of London’s most exclusive retail outlets, excellent schools and access to gardens, tennis courts, and children’s play areas. Others point to the Pavilion Road area as being much more villagey and gentrified, near private members’ clubs, exclusive gyms, and coffee shops.
Undoubtedly, the retail landscape in the area has evolved. Iconic department stores like Harrods and Harvey Nichols have maintained their status as shopping destinations, but the rise of online shopping has impacted foot traffic and sales. Covid also contributed to a perceived lack of buzz, where international buyers have been slow to return after the pandemic.
High cost of renovations
Walking around Knightsbridge, one gets to experience a glorious mix of Georgian, Victorian and Edwardian architecture. However, the houses are often tall and thin. Gardens tend to be patio style, and parking is difficult.
Many properties in Knightsbridge are dated and require refurbishing due to how long they have been in the same ownership. The cost of renovating is high, and with the time it takes to carry out one of these projects, we’re just not seeing an appetite from our clients wanting to take on such a lengthy refurbishment.
Buyers looking for a refurbished property have been looking more to Mayfair where a broader selection of super-prime developments featuring purpose-built modern designs with concierge and hotel-style amenities exist. The demand for these schemes for the turnkey option has been particularly high since Covid.
It is important to stress that Knightsbridge might not be as popular as it once was, for family houses in particular, but these trends tend to be cyclical and generational by nature. In the future, I would expect a new cohort of buyers to focus back in on the area, ultimately down to its central location and world renowned address.
Now could be an excellent time to buy
For a location on the map that is so central, close to many excellent amenities, and Hyde Park, 2024 could be the year to secure a good deal in Knightsbridge.
In January, we acquired a property in Knightsbridge for our client paying 18% less than the vendor acquired the property for in 2013. Given the uncertainty that 2024 holds, we are confident of more opportunities to buy in Knightsbridge at prices well below the peak of 2013.
There is evidence that conditions in the wider property market are becoming positive, and inflation is falling faster than expected. So, while Knightsbridge may have faced its share of challenges and changes, it remains a symbol of luxury and cachet in London. Its ability to adapt to evolving trends while preserving its heritage will determine whether it can reclaim its status as one of the world’s most exclusive neighbourhoods.
If you need help with your prime central London search, don’t hesitate to contact The Buying Solution, and we’d be delighted to discuss your requirements.