Leading London estate agency Anderson Rose has delved into the characteristics of the eight inner city villages that make up Prime Central London (PCL). Despite their close proximity, each one has its own distinct features and unique identity, which makes them individually attractive to specific buyer profiles.
Anderson Rose has provided an identity for each Prime Central London mini village, which encapsulates the character and personality that make them so coveted:
- Chelsea – Olde London
- Knightsbridge – Grand Retail
- John’s Wood – Canalside
- Belgravia – Garden Square
- Marylebone – Suburban Village
- Mayfair – Central Prime
- Kensington & Notting Hill – Cultural Quarter
- Tyburnia (W2) – Parkside
The latest figures from the leading prime London estate agency reveal that whilst many aspects of the PCL market is undergoing an adjustment period it remains one of the most sought-after residential destinations in the world. In 2023, each district recorded marked increases in sales compared to pre-pandemic levels, with St. John’s Wood (Canalside) achieving the best performance, with a 32% rise in total sales compared to 2019.
The Prime Central London branch of leading agents Anderson Rose has started 2023 on a strong note, with multiple deals secured in quick time.
The office, which launched in 2021 on the back of the long-term success of the prime Tower Bridge branch, completed on the sale of a spectacular five-bedroom house in Queen’s Park, NW6 in under 8 weeks for over £3 million, as well as an impressive three-bedroom penthouse at W1 Place in Marylebone completing for £6.3 million.
Scott Joseph, Head of Prime Central London at Anderson Rose, said:
“This report is an insightful and fascinating review of Prime Central London and details all there is to know about the history, local climate and property market for each of the eight mini villages that combine to create one of the most desired places to live in the world.”
Anderson Rose’s guide to Prime Central London is a definitive and informative review of the key features of each district, revealing notable residents, the best address, key characteristics and market data. Below is a breakdown of each of Prime Central London’s inner villages.
Mayfair – Central Prime
Mayfair has long been considered the heart of Prime Central London, characterised by grand hotels and an eclectic mixture of terracotta facades and exclusive new build developments.
Once an area associated with debauchery, taking its name from the May Fair, which was established in the 17th Century by King James II and held on land that is now Shepherds Market, Mayfair has established itself one of the most sought-after global addresses for domestic and international Ultra High Net Worth Individuals (UHNWIs) looking for a statement home in the heart of London.
Known as the most expensive location on the Monopoly board, Mayfair lived up to its reputation in reality, recording the highest percentage of sales over £5 million in 2023 (25%) of all the PCL mini villages, whilst total sales increased by 16.9% compared to 2022.
- Key Characteristics: Grandiose buildings, exclusive garden squares and prime luxury hotels
- Best Addresses: Mount Street, Duke Street, Grosvenor Square, Clarges Street
- Notable Residents: Sir. Winston Churchill, George Frederic Handel, Jimi Hendrix, Sir. Stirling Moss and Queen Elizabeth II (born on Bruton Street)
- Average Property Values: £2.5 million[1]
Knightsbridge – Grand Retail
Named after an ancient stone bridge used by the King’s Knights crossing what was then marshland to the hamlet of Fulham seeking a blessing from the Bishop of London before travelling onto the Holy Land, Knightsbridge is nestled between the south side of Hyde Park, Kensington, Chelsea and Belgravia.
The area is now best known as the home to some of the world’s most famous department stores, such as Harrods and Harvey Nichols, with homes favoured due to their proximity to the luxury outlets.
The PCL mini village is also regarded as the go-to destination for UHNW internationals looking for super prime homes or branded residences. Perfectly contrasting the impressive Parkside new build structures are large apartments and houses set within impressive terracotta or on peaceful mews on the network of residential streets in the heart of Knightsbridge.
Total sales in Knightsbridge were down 1.2% in 2023 compared to the year previously, however, the area was second only to Mayfair for property sales over £5 million (23%), demonstrating its position as one of the most exclusive districts within Prime Central London.
- Key Characteristics: Luxury department stores, Parkside apartments and refined homes on peaceful inner-city streets
- Best Addresses: Hans Place, Ennismore Gardens, One Hyde Park
- Notable Residents: Kylie Minogue, Eric Clapton, Robbie Williams and Ava Gardener
- Average Property Values: £2.63 million[2]
Chelsea – Olde London
Chelsea has been an area popular with the wealthy throughout history. First used as a residential base for the Saxon maritime industry, transporting chalk from the River Thames, then a residential base for royals and their advisors during the Tudor reign before producing world famous Chelsea China from Lawrence Street porcelain works in the 18th Century.
Consistently the residential address of choice for the great and good from Kings and queens to academics such as Oscar Wilde and Elizabeth Gaskell to stars of the screen, theatre and sport, Chelsea was once described as the ‘Village of Palaces’, boasting a number of grand buildings and attractive public gardens.
Today, Chelsea is a popular location for families due to the abundance of large homes that benefit from spacious gardens, which are close to some of the country’s best collection of independent schools.
The school system provides a constant demand for homes within catchment areas or easy walking distance for families, which saw property sales increase by 4.6% in 2023 compared to 2022 and 40.6% above pre-pandemic levels (2019). Last year also saw 12.7% of sales complete for over £5 million in the grand old PCL village of Chelsea.
- Key Characteristics: Large family homes, top-rated schools and the famous shopping street of the King’s Road
- Best Addresses: The Boltons, Phillimore Gardens, Old Church Street and Sydney Street
- Notable Residents: Sir. Thomas More, Oscar Wilde, Elton John, Mick Jagger and David & Victoria Beckham
- Average Property Values: £2.1 million[3]
Kensington & Notting Hill – Cultural Quarter
Best known for its annual carnival, colourful buildings and bustling markets, Notting Hill is a cosmopolitan and multicultural neighbourhood that has become the go-to destination for the young creative set.
Despite its tag as one of PCL’s edgier districts, Notting Hill has become a prime village, with an array of grand townhouses, apartments with hidden rooftop terraces and pastel-hued homes.
By contrast, Kensington is a well-established destination for those that desire an exclusive home in Prime Central London. The area, known internationally as the home of Kensington Palace, enjoys direct access to Hyde Park and Kensington Gardens, as well as close proximity to a set of excellent schools.
Combined, Notting Hill and Kensington are the cultural heart of PCL, with high-profile museums, popular art galleries and a selection of eclectic antique shops, coffee shops and exclusive restaurants.
Total sales in Kensington and Notting Hill were 4.3% lower last year compared to 2022, however, the cultural mini villages outstripped neighbouring Chelsea in terms of sales over £5 million, with close to 19% of all completions in 2022 over the threshold.
- Key Characteristics: Colourful homes, famous museums, a grand palace with modern royal residents and excellent schools
- Best Addresses: Portobello Road, St. Luke’s Mews, Victoria Road, Kensington Palace Gardens
- Notable Residents: Prince William and Princess Katherine of Wales, the Mittal family, Rowan Atkinson and Sir Richard Branson
- Average Property Values: £1.46 million[4]
St. John’s Wood – Canalside
St. John’s Wood is a suburban gem that offers a peaceful lifestyle on the north side of Prime Central London. First established as a wood belonging to the Knights of St. John, from which this eclectic mini village takes its name, the area belonged to the Crown until Oliver Cromwell sold it in 1649 to boost the treasury during the Civil War. The deeds to the largely rural and secluded area was purchased by the Eyre family who would go onto to transform St. John’s Wood into London’s first garden suburb.
The prominent patch of PCL has since transformed into one of the most sought-after residential districts, desired for its canalside walks, stucco fronted townhouses and perhaps more widely known as the home of Lord’s Cricket Ground (the home of the England Cricket team) and Abbey Road Studios (famous for producing music by The Beatles, Pink Floyd, Oasis, Amy Winehouse and Ed Sheeran).
The St. John’s Wood property market has performed well in recent years. In 2023, the area recorded a significant increase in price per sq. ft. values in comparison to other prime London districts, registering a 5.8% rise through the year, whilst 12% of all homes sold in the year were worth over £5 million, with sales overall up 32% compared to 2019.
- Key Characteristics: Grand family homes, canalside walks, Lord’s Cricket Ground and Abbey Road Studios
- Best Addresses: Acacia Road, Park Road, Abbey Road, Hamilton Terrace
- Notable Residents: Sir. Paul McCartney, Damien Lewis, Ewan McGregor and Bill Nighy
- Average Property Values: £1.562 million[5]
Belgravia – Garden Square
Belgravia is a prime pocket of PCL comprising a collection of exclusive gardens squares, including Eaton Square, which ranks as one of London’s largest residential squares. The majority of the impressive stucco fronted villas and portico fronted terraces were designed and built in the early 1800s by prominent English architect Thomas Cubitt, who was responsible for developing a number of London’s historic streets and squares.
Thomas Cubitt was highly revered and has left a permanent mark on the city, so much so that Queen Victoria reportedly described his death as ‘a real national loss.’
The area was titled ‘Belgravia’ in reference to the major landowners the Grosvenor Family, who were also known by the title Viscount Belgrave. Due to its central location and secure homes and private garden squares, Belgravia has long been favoured by prominent figures in business, politics and film.
Former Prime Minister Margaret Thatcher once lived in Belgravia, as did the famous Lady Astor, the first woman in Britain to hold a seat in parliament and become an MP. James Bond actors Sean Connery and Roger Moore have all lived in Belgravia, following in the footsteps of Ian Fleming the creator of the world-famous spy. The area has also been the choice destination for high-profile business leaders, such as the Candy brothers and Roman Abramovich.
Total sales were down by 1% in Belgravia compared to 2022, however, the UHNWI hotspot was one of the best performing PCL villages for sales of homes over £5 million, recording 23.2% of all completions above this prime price point.
- Key Characteristics: Super prime stucco fronted villas and grand private garden squares
- Best Addresses: Eaton Square, Eaton Terrace, Belgrave Square, Halkin Street
- Notable Residents: Margaret Thatcher, Sean Connery, Roger Moore and Ian Fleming
- Average Property Values: £3.8 million[6]
Marylebone – Suburban Village
Marylebone High Street has the ambience of a village thoroughfare, with an array of boutique shops, restaurants and cafes, all of which could be a world away from the bustling inner city that surrounds the area.
The first reference to the village of Marylebone appeared on a map of 1708 made for John Austen, lord of the manor of Marylebone. The area took its name from a medieval church dedicated to St. Mary the Virgin, becoming known as St. Mary-la-Bourne (St. Mary-by-the-stream – in reference to the Tyburn river), with the modern title of Marylebone the shortened form.
Arguably the original village of PCL, Marylebone is widely associated as the home of the famous detective Sherlock Holmes, whilst today it is regarded as the leading destination for private medical practices, based on and around Harley Street.
Marylebone is known for its red brick Georgian mansion blocks, which have traditionally proven popular with the creative set. There are currently a number of high-profile new-build developments in construction in the area, which will provide a boost to the market that saw a drop in sales by 2.2% compared to 2022, but up 22.5% compared to 2019 (pre-pandemic). A popular prime destination, over 11% of sales in Marylebone were above £5 million in 2022.
- Key Characteristics: Mansion blocks, village high street and close proximity to the spacious Regent’s Park
- Best Addresses: Chiltern Street, Montagu Square, Marylebone High Street
- Notable Residents: John Lennon, David Cameron and Charles Dickens
- Average Property Values: £2 million[7]
Tyburnia – Parkside
Tyburnia is an area between Paddington Station and Hyde Park, which has some of the most competitively priced properties of all the PCL mini villages.
Bordering Marylebone, Tyburnia is named after the Tyburn river that once supplied water for the City of London through conduits of elm trunks, however, was eventually drained off by the sewer network to allow the construction of finely laid out residences.
Once labelled as a ‘future prime London hotspot’ in the late 1990s by former Prime Minister Tony Blair, who owned a significant portfolio of properties in the area, Tyburnia is a mixture of mansion blocks, townhouses and prime new-build developments, with the most exclusive facing onto Hyde Park or around grand private garden squares.
Historically a village on the outskirts of London, Tyburnia was synonymous with capital punishment, with the first execution recorded in 1196, whilst in 1537 King Henry VIII used the spot to hang the ringleaders of the Pilgrimage of Grace. Oliver Cromwell was also posthumously hung, drawn and quartered at Tyburn by King Charles II as an act of revenge for his execution of King Charles I.
Tyburnia ceased being a destination for executions in the late 18th Century and quickly transformed into a prime residential district, as London expanded. 19th Century novelist William Thackeray wrote of ‘the elegant, the prosperous, the polite Tyburnia, the most respectable district of the habitable globe.’
Modern day Tyburnia remains a popular residential address for domestic and international UHNWIs, though it is one of the least expensive patches of PCL, with only 3.2% of sales recorded in 2023 over £5 million.
- Key Characteristics: A mixture of mansion blocks, townhouses and prime new-build homes close to the prominent Hyde Park
- Best Addresses: Hyde Park Square, Bayswater Road, Gloucester Square, Hyde Park Gardens
- Notable Residents: Sir. Tony Blair, Mike Atherton, J.M. Barrie
- Average Property Values: £1.7 million[8]
