Property

Ebury Place - A New Arrival at Pimlico of London



London’s green, relaxed and historic Pimlico welcomes a rare new build to its distinctive cityscape.

It may seem like there’s a lot of product coming out of London these days, but the city remains mired in a supply crunch that’s not going away soon. Brexit or no Brexit, there’s currently a property boom in London and the UK.

London will need to be flexible, and though there could be some bounce in values in the coming years, Savills’ Lucian Cook, in August research, stated: “The fundamentals are unlikely to be undermined, suggesting that even though the prime London markets will adapt and adjust, there will still be some life left in them in two or so years time.”

But in the meantime, the city is experiencing an investment surge according to research by Hong Kong-based IP Global. Since the referendum, prices have risen on average 5.6%, with London and Manchester leading the way.

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New Opportunity
Developer Taylor Wimpey Central London certainly has faith in the city’s ability to weather most storms. Following developments in Camden, Westminster and King’s Cross, TWCL is back, this time in historic, tranquil Pimlico. Notable for its early 19th century Regency architecture and urban greenery, it’s now a protected district – the Pimlico Conservation Area. It is surrounded by some of London’s most in-demand addresses, with newly built developments in Pimlico few and far between.

“It’s a rare opportunity to have a new build in this area. SW1 is something people in London aspire to – it’s close to Chelsea, Belgravia, Knightsbridge – and Ebury is actually a small village in what’s called a triangle,” explains Mary Smyth, head of sales for Taylor Wimpey Central London.

“The triangle is Victoria, Sloane Square and Pimlico, and Ebury sits right in the middle of that. It’s a residential area with a quintessentially British feel, so you have the stucco-fronted white houses around you as well.”

While Brexit looms over almost any investment talk in the UK right now, Smyth is staying on an even keel. Citing currency fluctuations that are in favour of investors and the autumn statement as the next big landmark.

“With any political change there will always be some concern, but with any possibility like that comes opportunity, and I think the UK now has gotten used to the reaction and a lot of us are looking forward to the positives … yes, there are a few unknowns, but we’re not the only country going through a patch of instability – look at America. But the right time to buy would be now. London is very resilient.”

Smyth and TWCL unsurprisingly touched down in Hong Kong for a sales event in October, as the city is a historically strong market, and Ebury Place draws diverse buyers, some with an eye towards education (a technical college for 14 to 18-year-olds is an integral part of the development) and investors seeking weekend homes.

Ebury’s neighbourhood vibe, however, doesn’t mean it’s not a strong investment.

“The area is predominantly residential, with a village feel, whereas Canary Wharf is very much the business and finance district. They attract more investors, but that said, Ebury Place offers both, [a home] and good rental yields.”



Boutique and Bespoke
Perched on the corner of Sutherland Street and Ebury Bridge Road, Ebury Place is the latest by the boutique builder, which has been active for under 10 years (as part of the larger Taylor Wimpey Plc), but has quickly established itself as one of London’s premier upscale developers.

Concentrating almost solely on the areas in and around Euston Station, King’s Cross, Vauxhall, Canary Wharf and St John’s Wood (among others) helps with its identity.

“We only build in zones 1 and 2, but we don’t see our brand as boutique anymore. Battersea Exchange is over 290 units, but we have had developments that are just two units – two bespoke, refurbished apartments in Camden. We have a whole range so we like to say ‘bespoke developments’ now.

“We’re still very much central London and all we want to do is deliver good quality apartments with high specifications in good locations that are close to transport links that please investors as well as occupier-buyers. That’s where we see ourselves going. We’re pushing hard to get the brand out there and we’re already seeing repeat business. We’re getting there.”

To that end, when finished in the third quarter of 2018, Ebury Place will feature 47 bespoke flats designed by Sheppard Robson (Guangzhou’s Phoenix Mountain Spa & Resort), with interiors by Jigsaw Interior Architecture (TWCL’s Onyx Apartments at King’s Cross and Westminster Quarter).

“We pride ourselves on the little details. We used Jigsaw for interiors, who are very contemporary and very forward thinking. We have great internal features – wood flooring and bespoke kitchens,” as a start, she says.

Aside from stellar connectivity (three tube stations are minutes away) Ebury Place is surrounded on all sides by major landmarks (Battersea Park, the Tate Britain, the V&A) and some of the city’s best artisanal dining and boutique shopping.

The open-plan apartments in the 10-storey building will feature materials such as stone, aluminium and Silestone, and boast Siemens appliances, floor-to-ceiling windows and underfloor cooling and heating. Residents will also enjoy comprehensive concierge services.

Prices at Ebury Place range between £795,000 and £2.1 million (HK$7.5 to $20 million) for one to three-bedroom flats, sized from about 540 to 1,135 square feet.