Press Release: Boat Race - The price of a river view = 20% premium
Thu 03 Apr 2014
As thousands of people flock to see the Boat Race on April 6th, the spotlight will also shine over the four miles and 374 yards of real estate from Putney toMortlake. During the race, the crowds will be exposed to some of the best homes in London, with their uninterrupted views of the waterside. Highly prized for their beauty andsense of space, all year round properties with prime views of the river attract price premiums of around 20%, according to Marsh & Parsons.
Situated in Fulham, on the Middlesex side of the boat race course, a magnificent four-bedroom property with views of the River Thames (pictured) is on the market for 1,925,000:http://www.marshandparsons.co.uk/property-for-sale/4-bedroom-Flat-for%20sale/Sailmakers-Court-William-Morris-Way-London-SW6/FUL120066By comparison, typical four-bedroom properties of this size situated further inland in Fulham, command a price tag of around 17% less on average. For instance, a comparative property for sale in Fulham, near the River Thames but without a view, is currently on the market for 1,650,000:http://www.marshandparsons.co.uk/property-for-sale/4-bedroom-House-for-sale/Langthorne-Street-London-SW6/FUL140029
Peter Rollings, CEO of Marsh & Parsons, said: "As a rule of thumb, the enduring appeal of old father Thames adds 20% in value to property that overlooks it. During the Boat Race, those with prime river views enjoy the kudos of showing off the best seats in town to friends, but it is the year-round appeal of the river that generates the price difference. Breath-taking river views add a real sense of space to a property, and scenic river paths provide opportunities for walking and cycling through the capital. Emerging new build developments stand out in particular, many of which have been marketed abroad, and are in high demand from both UK and international buyers."
Positioned at the Surrey side of the boat race, a striking four-bedroom penthouse in Barnes with panoramic river views is on the market for 2,999,950:http://www.marshandparsons.co.uk/property-for-sale/4-bedroom-Flat-for-sale/Handel-Mansions-Wyatt-Drive-London-SW13/CSV110996This is an ideal location for rowing fans who want to show off grandstand seats to friends. By comparison, another property of the same size further inland recently sold for 2,500,000, giving a 20% price premium to properties with river views in this area.http://www.marshandparsons.co.uk/property-for-sale/5-bedroom-House-for-sale/Glebe-Road-London-SW13/BAR120153
Positioned on the Fulham/Chelsea border, close to Imperial Wharf and the amenities of the Kings Road, Marsh & Parsons has an exceptional three-bedroom property with stunning views of the River Thames. Boasting impressive water front views from all angles, it is on the market for 3,300,000:http://www.marshandparsons.co.uk/property-for-sale/3-bedroom-Flat-for-sale/Courtyard-House-Imperial-Wharf-London-SW6/FUL110076
There are also more affordable alternatives. A two-bedroom property near Barnes Bridge, with prime riverside views, is currently on the market for 999,950:http://www.marshandparsons.co.uk/property-for-sale/2-bedroom-Flat-for-sale/Elm-Bank-Mansions-The-Terrace-London-SW13/BAR090138In this case, the river view contributes to an even higher price premium of 29%,when compared to a two-bedroom luxury property without a view, just a stones throw away and also on the third floor, which recently sold for 775,000:http://www.marshandparsons.co.uk/property-for-sale/2-bedroom-Flat-for-sale/Wrenn-House-Brasenose-Drive-London-SW13/BAR130164
For further information please contact:
The Wriglesworth Consultancy,Neil Mackwood / Flora Spens,0207 427 1416
Marsh & Parsons has been part of the London property scene since 1856. The sales and lettings agent has 20 offices situated in prime positions across central, west and south London. They have an intimate and extensive knowledge of the area.
Marsh & Parsons are an independent and professional firm with a 'can-do' attitude covering all aspects of residential property. They aim to establish individual relationships with clients through a business built on energy, agility, professionalism and knowledge. Their business aim is to be the agent who not only understands the local area around their offices better than any other agent, but also to be at the heart of the community.