HOUSE prices in Marylebone have risen by 28.5 per cent in the last five years and the trend looks set to continue, according to statistics from property website Zoopla.
“We anticipate that within the next five years, prices in Marylebone, NW1, will increase by up to 25 per cent as the area benefits from further investment. Values will come much closer to those in Marylebone, W1,” says Martin Bikhit, managing director of Central London agent and property consultant Kay & Co.
“Buying now in a good quality development is likely to reap rewards in years to come and we are advising our investor clients to look very seriously at anything in this area.”
Marylebone and nearby Fitzrovia are famed primarily for their Georgian architecture but some modern flats and mews houses are slowly emerging. Agents agree the beautifully manicured gardens and grand stucco-fronted town houses (many of which have been converted into apartments) on Montagu Square and Bryanston Square are considered desirable locations. The development of both the Howard de Walden Estate and Portman Estate have also been instrumental in regenerating the high street and creating a “distinct village atmosphere” that has been attracting buyers and driving up demand.
Claire Reynolds, head of Savills Marylebone, says, “In recent years, Marylebone has become one of the most sought-after areas in London. Not only has it established itself as a shopping destination, offering diverse boutiques and restaurants, it also offers beautiful garden squares, a wealth of cultural and tourist attractions, and the world famous medical practices on Harley Street.”
An increasingly high concentration of overseas buyers are seeing the attraction of Marylebone, considering the area to be safe but vibrant, with a young demographic that is perfect for their children studying in London. With Oxford Street to the south and Regent’s Park to the north, international buyers, especially from the Middle East, are being drawn to the area.
And if that doesn’t convince you, remember that Sherlock Holmes lives on Baker Street, so you’d know where to go if anything mysterious happened.
10 THINGS TO DO IN MARYLEBONE
1 Visit Sherlock Holmes’ house. The world’s most famous fictional detective lived at 221B Baker Street in Arthur Conan Doyle’s novels and the address is now a museum.
2 Artisan food delicacies sit alongside British fashion at Cabbages and Frocks, a popular market that’s re-opening on Marylebone High Street next month.
3 Regent’s Park houses an open air theatre and waterfowl collection and it’s on your doorstep. The John Nash-designed Royal park covers nearly 395 acres.
4 Harley Street has been famed for its private medical and surgery specialists since the 19th century and there are nearly 3,000 people employed in its clinics.
5 The Wallace Collection is situated in a historic town house. Browse through 25 galleries of 18th century French paintings, furniture and porcelain. It even has an armoury.
6 Marylebone Farmers Market hosts 30 to 40 stalls every Sunday in Cramer Street Car Park. It’s made Marylebone village a top destination for foodies.
7 Soak up some culture at Wigmore Hall, on Wigmore Street, which was built at the turn of the 20th century. It’s now a world-famous chamber music recital venue.
8 Preview the newest literary sensation at Hardy’s Brasserie and Wine Bar. The restaurant specialises in literary evenings featuring book readings and signings.
9 Get crafty at haberdashery VV Rouleaux on Marylebone Lane. Described as “the Chanel of ribbon and trimmings”, it has also been commissioned by Harrods.
10 Daunt Books has made an Edwardian building on Marylebone High Street its home for 20 years. It compiles reading lists and hosts a literary festival every year.