Hunting for value
For those on the lookout for a Central London property to invest in, Pinks Mews is an obvious choice.
Pinks Mews, a new central London development from Sons & Co., has a special association with the hunting world. The properties have a historic past that dates back to their origins as dyers buildings in the 19th century. It was here that professional dyers would prepare the fabric for the distinctive scarlet jackets used in fox hunting – colloquially known as ‘hunting pinks’. Now, as pursuits have moved on, the buildings may be of interest to a different kind of hunter – those who are chasing down a property in the capital that’s not only a perfect London home, but also is a great investment opportunity. Here’s why Pinks Mews is the ideal choice for those on the hunt for value…
Mews houses are a rare sight on the London property scene, accounting for just 2.4% of the market. Despite this scarcity, these historic properties – many of which began life as Victorian coach houses – remain strongly in demand. It is due to this, according to research by CBRE, that the average price of mews and mew-style properties has now reached 1.46 million in London – 33% more than the average in Central London. In Camden especially – the borough in which Holborn sits – this demand has only got stronger in recent years. In 2010, the average mews house in the borough was worth 11% more than the typical Camden property. In 2017, this difference was found to have risen to 43% – a clear demonstration of these properties’ investment potential.
Open for business
As well as boasting an abundance of bars, restaurants, cafes, culture and entertainment venues, Holborn is also a renowned center of thriving business activity. The area has long been home to a bustling legal community, having a history with the profession that stretches back to the 18th century. Accordingly, Holborn is the London base to some of the world’s most prestigious law firms including Freshfields, Slater & Gordon and Hogan Lovells.
More recently, the area has begun to diversify its portfolio, with a host of creative and technology companies having moved in over the last several years. Big names including Amazon, Google, and Warner Bros have chosen Holborn as their headquarters in the capital. With the list of businesses investing in the area only set to increase, property prices are ripe for growth
The development sits a mere 3-minute walk from Chancery Lane underground station, providing easy access to the Central line. A short walk in the other direction, the Hammersmith and City, Circle and Metropolitan lines are accessible from Farringdon station. On its completion in December 2018, Farringdon will also host the much-anticipated Elizabeth Line, also known as Crossrail. The station will be one of 40 stops along the new line that is set to transform the London transport network.
The project’s development is already having a considerable impact on property prices surrounding Crossrail stops. Research by CBRE shows that since the line was given the greenlight, average prices near these stations have increased by 31% over the wider market. Moreover, CBRE has predicted that prices will continue to increase by a further 3.3% on top of average growth ‘until the full effect of Crossrail has been realised’. Farringdon itself is set to exceed these estimations; owing to its increase in accessibility and potential to develop as a prime business district, house prices in the area are set to shoot up by 6.6% year on year above average growth. Being only 8 minutes’ walk from Farringdon, Pinks Mews is in a top position to reap the investment benefits that the new line is bringing.
Those wise enough to invest in Pinks Mews can enjoy their investment in comfort and style. Each property boasts outstanding designer interiors – from luxury oak floorings to the floor-to-ceiling marble in bathrooms and bespoke fitted joinery. They also enjoy additional flourishes including underfloor heating and Sonos surround sound systems, and resident will benefit from a dedicated 24-hour concierge service.
So, if you think your hunt might finally be over, pick up the phone to arrange a viewing at Pinks Mews.
Prices at Pinks Mews range from £995,000 to £2,750,000. For further information contact Jamie Gunning at CBRE (020 7240 2255), Glen A. Cook at Hamilton Brooks (020 7606 8000) or visit the Pink Mews website to register your interest
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