Liquid error: wrong number of arguments (2 for 1) London New Build Apartments Attract Record Prices | Marsh & Parsons Sales and Lettings Estate Agents London

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London New Build Apartments Attract Record Prices

Tue 30 Sep 2014

House price growth across the sector slowed to 0.5 per cent from 3.1 per cent in the previous quarter, according to the latest London Property Monitor from estate agent Marsh & Parsons.

Dubai: Despite some reports that house prices in the prime London market are expected to stay flat until end of the year, the new build apartment has an asking price of more than 4,400 per square foot - around four times the average for the location.

An artists impression of exterior view of St Edmunds Terrace development in Primrose Hill, London, by CIT. - Supplied photo

House price growth across the sector slowed to 0.5 per cent from 3.1 per cent in the previous quarter, according to the latest London Property Monitor from estate agent Marsh & Parsons.

But Primrose Hill penthouse has recently broken price record for most expensive property in the area that shows there is clearly demand for new build property in Primrose Hill and also on some of Londons famous parks.

The 3,600sqft penthouse achieved in excess of 4,400 per sqft. The property is in the St Edmunds Terrace development, a luxury complex by developer CIT featuring 36 flats and a separate two bedroom townhouse, all overlooking Primrose Hill.

This is testament to the uniqueness of the development with the incredible views across London, high specification design and fact this is a fully serviced development with 24 hour concierge, CIT said in a statement.

Ed Lewis at Savills, one of the worlds largest real estate firms, commented: Residents at St Edmunds Terrace will be in the relatively unique position of living on the edge of a central London park, on the door step of

fashionable Primrose Hill and St Johns Wood and a stones throw from the City. The location together with the exceptional apartments and world class amenities make St Edmunds Terrace a brilliant new address for 2015.

EC Harris Prime Residential report 2014 revealed that the number of luxury homes currently being planned or under construction in London hit a record high this year, with around 60 billion of properties currently due to be delivered over the next decade, a 20 per cent increase on 2013. CIT is set to deliver St Edmunds Terrace, a luxury residential new build development in the heart of Primrose Hill, in Easter 2015. Famed for its Victorian terraces, this is the first new build development to be built directly overlooking the park in many years.

George Kyriacou, managing director of Development for CIT said: CIT are working to deliver a unique offering of expertly designed, contemporary luxury homes at this exceptional location in Primrose Hill and look forward to delivering the scheme early next year. We took what was thought to be an undeliverable site out of receivership and totally transformed it, adding a great deal of value to the area.

The apartments and separate two bedroom town house sit adjacent to Primrose Hill and the 395 acres of Regents Park. The scheme has been thoughtfully designed by Squire and Partners to blend into the parks surroundings by using materials such as Portland stone and bronze. Penthouses will be clad in bronze tiles resembling an ivy leaf pattern and projecting windows and balconies will allow residents to take full advantage of the panoramic views of London.

Tim Gledstone from Squire and Partners also commented: St Edmunds terrace is a set of three contemporary parkland buildings, crafted from Portland stone and bronze and set within a series of landscaped gardens. The modern design draws its inspiration from the elegant detailing and rigour of the existing Regency buildings and villas surrounding Regents Park, while embracing this exceptional location where the wonder of nature meets the city of London.

Apartments will range in size from one to four bedrooms and will be spread across three low rise buildings - so as not to interfere with the current skyline. Landscaped courtyard gardens, a 20m swimming pool and gym are all included and residents will benefit from 24 hour concierge and porterage.

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