Marsh & Parsons

Area Profile - Pimlico Sales

Prime Pimlico

The Pimlico office of estate agent Marsh & Parsons sells flats and houses in the very heart of London and is the company's newest branch opening in October 2007.

The sales team is headed by manager William Hughes-Ward who says prices in the area are about 30 per cent lower than in neighbouring, Chelsea and Belgravia. "The prices vary from Pimlico to Westminster and St James's which are all areas we cover from this office," he says. "We also go across the river and sell apartments on Albert Embankment."

The area was once a bog, and Henry VIII famously sailed past in a barge and remarked on the stench coming from Pimlico. The bog has gone and the area was redeveloped in the mid-19th century when white stucco-fronted houses were built and, although many were bombed during the war, plenty still remain. In 1957, the Churchill estate was built to provide local authority housing to replace bomb-damaged homes. Today, much of the vast complex of flats is in private hands and the flats are particularly popular with buy-to-let investors because they provide excellent yields.

The attraction of Pimlico, which was turned into an independent republic in the Ealing comedy film Passport to Pimlico, has always been its proximity to Westminster and its excellent transport links. Victoria station is close by and trains take passengers not only to the City and West End but also to Gatwick airport in half an hour and beyond.

So, what will you get for your money in Pimlico?

Marsh & Parsons, one of Pimlico's most popular estate agents has studio flats for sale at prices ranging from £250,000 to £350,000. "This area is very popular with politicians and civil servants who buy pied-a-terres here to be close to Westminster," says Hughes-Ward. The price of one-bedroom flats for sale ranges from £350,000 to more than £700,000 depending on their location and two-bedroom flats in Pimlico start at £450,000 and can run into several millions.

While much of the property in the area is commercial office space – and much of it is used by the government – a large proportion of residential property, particularly in Westminster and St James's is owned by the Crown Estate. Privately-owned Victorian houses remain popular and many are for sale through estate agent Marsh & Parsons with prices starting from £1.2 million and rising. The core area of Pimlico is the Grid, and here the price of four-bedroom houses starts from £2 million.

What else can you expect from Pimlico?

The street scene is changing and many of the small hotels and guest houses are closing and being replaced with elegant houses and apartments. Shops are changing too with the arrival of Starbucks and Caffe Nero and a continuing flow of smart bars and restaurants are also opening. There are smart independent florists and a growing number of boutiques. Pimlico Road SW1W, which links Pimlico with Chelsea, has been nicknamed the new King's Road, after its chic shops, antique dealers and lively bars and pubs.

There are plenty of state schools in the area and Pimlico has its own secondary school, but private schools, such as the famous Hill House, are just a short walk away in Chelsea.

And it is the bars, restaurants and shops of Chelsea that also appeal to Pimlico's residents. Just five minutes away is London's most romantic restaurant, Poule au Pot, and the shops of Sloane Square SW1W, King's Road SW3 and Knightsbridge SW1X are a short bus ride away or a brisk walk. The theatres of the West End are also just five minutes away in a taxi.

As one of the premier estate agents selling properties in the Pimlico area, Marsh & Parsons prides itself on its local know how. From the best schools in the area to the finest boutiques, bars and restaurants and the cost of a resident's parking permit, staff at Marsh & Parsons have their finger firmly on the local pulse.