Castle-Lane-road-sign

A Palace Without the Price-tag

 

Victoria victorious

With so much going for it, it’s easy to see why Victoria is an attractive area for home-buyers and investors alike. The neighbourhood is steeped in history – with Buckingham Palace at its heart – and is surrounded by some of London’s nicest green spaces, Green Park and St. James’s Park.

The postcode is not short of places to eat and shop either. An array of high-end boutiques and shops boasting well-known brands line Victoria Street and its environs. A host of bars and restaurants have also sprung up recently, including The Dining Room at The Goring and South Indian restaurant Quilon – both of which have been awarded Michelin stars.

To top it all off, as a consequence of excellent rail, tube and coach links, Victoria is intensely connected not just to the rest of London, but to the rest of the UK. And with Heathrow less than thirty minutes travel away, it is arguably Prime London’s gateway to the world.

Fierce competition

nova-victoria-westminsterLittle wonder, then, that developers have sought to capitalize on Victoria’s many advantages. A surge of building activity has taken place there over the last few years from both commercial and residential developers. One such development is No. 1 Palace Street, a new multi-unit scheme still under construction and positioned just to the rear of Buckingham Palace. The scheme’s developers have just announced one premier apartment has been sold for just above a hefty £4,400 per square foot. The price tag reflects both the premium buyers will place on being near the heart of British monarchy and the rapidly growing value of land in the area.

The smart choice: VI Castle Lane

castle-lane-living-diningLess than 300 meters down the road sits VI Castle Lane, which was formally launched last October. This collection of luxury apartments and townhouses is a stone’s throw from No. 1 Palace Street – and thus the Palace itself – with proximity to all the same amenities, transport links, and culture. The development also enjoys boutique designer interiors, meaning each apartment is delicately and uniquely crafted, and comes complete with highest-grade fittings. On top of all this, with a 24-hour dedicated concierge service, residents will never want for a late-night delivery or last-minute laundry service again.

You might think, then, that prices per square foot at VI Castle Lane weigh in at around the same as No. 1 Palace Street. In fact, the development’s prestige, top-floor, duplex penthouse is asking for less than half of the price per square foot No. 1 Palace Street sold for. A considerable difference, and one prospective investors would be wise to bear in mind.

Victoria may be entering its renaissance, but you still don’t have to be a member of the Medici family to grab a comfortable luxury home and a sound future investment prospect.

VI Castle Lane has just opened new one, two and three bedroom show apartments; contact Strutt & Parker (020 7318 4677) or Knight Frank (020 3826 0673) to arrange a viewing. Alternatively, view the development and register your interest at http://www.vicastlelane.com

Prices range from £1.2 million to £3.5 million