London Financial Times’ property correspondent, Ruth Bloomfield, looks at the redevelopment of Westminster and Victoria.
Westminster is undergoing a significant transformation as post-war office blocks are converted into housing and “benefits from the redevelopment of Victoria”. Research by Savills shows that the average house price in Westminster has risen by 27% since 2008. According to Richard Osborne-Young, Director at Jones Lang LaSalle, “the value of new-build homes [in the area] is even higher”.
In a feature article for Saturday’s FT House & Home supplement, Ruth Bloomfield asserts that an area once never considered as a residential option is now “being tipped as one of the rising stars of central London’s property market”. Bloomfield picks Barratt London’s The Courthouse development as one of those rising stars. The development - previously the Westminster Magistrates Court - has now been transformed into a 129-home luxury development and is one of the “high-end developments changing perceptions of Westminster”.
The Courthouse is 80% sold, after just 12 months on the market. Sister project Great Minister House is just across the road from The Courthouse and is currently wowing customers with its stunning interior design and luxury features and fittings such as high-ceilings, full height feature doors and individually designed living spaces that work well for both laid-back family time, or entertaining. The kitchens have stylish handle-free furniture, Silestone worktops, concealed lighting and top-of-the-range Siemens appliances; while the bathrooms boast porcelain floor tiling, a walk-in style shower and vanity units with a bespoke marble finish.
Follow the link to read the full Westminster: a new rising star of central London’s property market article on ft.com
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