News On The Block Apr 2004

It is perhaps the most exclusive address in London apart from Eaton Square. This apartment is an absolute rarity because most of the properties on Chester Square are townhouses.

Completely refurbished just 3 years ago with no expense spared, the apartment has been extremely well maintained to the highest possible standards. Meticulous thought has been given to the property, and the most luxurious materials have been used throughout.

The décor is classically elegant, with solid American Walnut oak, marble floors, and silk covered walls. There are ten individual windows providing a beautiful view of Chester Square, with its attractive garden and church.

The whole apartment is air conditioned and sound proofed from floor to ceiling, thereby providing a welcome retreat from the hustle and bustle of Central London.

The accommodation includes a master bedroom suite with walk in dressing room and study for him, boudoir and separate bathroom for her, a guest bedroom with bathroom ensuite, and separate living quarters (including a shower room) for house staff.

The country-style kitchen is well equipped for entertaining with two of everything (including dishwashers and ovens), separate laundry room and champagne freezer! There is a large double reception room, dining room and library.
A most unusual and welcome feature of the apartment is the fact that it has secure underground parking for two vehicles (which is very unusual for this area) and a large basement storage area.

A service elevator provides direct access from the car park to the apartment.

The apartment is also extremely secure because of the limited number of entry points, porterage and high specification intruder alarm situation. Contact Aldine Honey & Company on 0207 834 4901 or e-mail property@aldinehoney.co.uk.

REGIME OFFERS HI-TECH HOMES

Regime, the niche developer of exclusive luxury homes, has proven that style and tasteful elegance don’t have to be compromised for the latest smart home technology.

Regime’s ethos is to provide the best of Smart Home Technology in all of their developments, ensuring that while such a high level of technology enhances the purchaser’s lifestyle in striking ways, the visibility of the gadgets that go with it are minimised – speakers are discreetly set into the ceilings, with invisible wiring throughout the home on all lighting, security and heating features.

The bespoke options on enabled technology at The Pulse offer endless possibilities for lighting, communication, audio, heating and temperature control, security and home cinema and ensure that you can command the way you live your life at the touch of a button, even when you aren’t at home.

At The Pulse, ISDN and ADSL enabled cabling comes as standard, alongside a Category 5 data loop in all apartments. Within the remaining apartments, the Smart Home Package includes a multi-room audio system as standard, which can be controlled from any area of the home via a keypad, remote control or even your mobile phone.

At The Pulse, a concierge provides overall security to the building while a video entry phone is provided in each apartment. The Smart Home central locking option links the front door lock to all the other Smart features so that when you enter or exit the apartment the lighting, heating, audio and alarm can all be activated or deactivated to your settings.

At The Pulse, the home enabling and Smart Technology is installed by Dome Systems, who will be on hand to ensure that you are comfortable using the bespoke options in your new home, when the time comes to move in. Dome Systems designs your home technology with you in mind and as such all options are bespoke and tailored to suit your lifestyle. Commissioning of the installation is performed by fully qualified engineers and a CD-ROM of any system programming is left with you for future reference. Once your unique system has been installed, Dome Systems offers a 12-month warranty on all parts. In addition, Dome will offer an ongoing maintenance arrangement, which will give you access to a help line and service callouts.
Remaining apartments at The Pulse are for sale from £470,000, whilst three of the original nine upgraded specification Pulse Collection apartments remain available priced from £1.25 million.

BONHOMIE TO LAUNCH

The Delph Property Group launched Bonhomie Court, a one-off scheme of luxury two and three bedroom apartments surrounded by a moat and with a gated entrance on the 3rd April.

Located in the village of Hurst near Wokingham, the development is nestled in the heart of the Berkshire countryside, providing stunning scenic views from every aspect.

The village is traditionally English, complete with cricket ground, duck pond, and post office.

Bonhomie Court provides a combination of cutting edge city style apartments in the heart of rural England, whilst still less than half an hour’s journey from London Paddington and Heathrow.

The development is designed in a traditional style with chimneys, clock tower and rustic car ports and cycle stores. Every principal reception room opens onto a patio or balcony emphasising the views of the surrounding fields presented from all windows.

Each apartment offers a modern living experience, with integrated SMEG kitchen appliances, granite work surfaces, neo classic bathrooms and video entry phones. Apartments range in price from £325,000 to £425,000.

BUY TO LET INVESTORS WOULD IGNORE HOUSE PRICE FALLS – MAJOR ARLA LANDLORD SURVEY SHOWS

More than 90% of Buy to Let investor landlords will keep their investment properties should house prices fall. Most see themselves as holding their investments for the long term. Nearly two thirds expect to maintain their property investments for more than ten years while more than a quarter (27%) expect to keep their properties for over 20 years.

These figures come from nearly six hundred landlords responding to a survey through the website of the Association of Residential Letting Agents, ARLA. The survey ran from before Christmas until the 22nd March 2004.

"These figures totally reject propositions contained in some recent reports that future house price falls could impact on the Buy to Let market. Obviously, investment landlords understand that people have to live somewhere and should there be a housing problem they are as likely, if not more likely, to rent as to take any other form of tenure.", said Robert Jordan FRICS, President of ARLA.

The ARLA website survey, carried out on behalf of the Association's panel of lenders, Birmingham Midshires, GMAC Residential Funding, NatWest Mortgage Services, Paragon Mortgages and The Mortgage Business, also showed the reasons for tenants renting.

Landlords believe that the most common reason for renting was the inability to buy. This applied to 44% of their tenants. Nearly a quarter of all tenants (22%) are believed to be renting because they prefer the flexibility it gives them. The landlords thought that 18% of their tenants do not want the responsibilities that go with home ownership and that 17.3% of their tenants were renting because they are working away from home.

The landlords were asked the size of their Buy to Let portfolios. While four out of ten (39.7%) hold only one investment property, 42.3% have between two and five properties, 10% have between six and ten and 7.8% have more than ten properties in their portfolios. Overall, the Buy to Let portfolios averaged 5.5 properties.

The landlords were asked to describe how they perceived that other investor landlords of their acquaintance have done in the Buy to Let market. The respondents stated that more of their residential landlord acquaintances (46%) have built successful, profitable businesses than those falling into any other category.

The landlords thought that 7.5% of other landlords known to them may have made an expensive mistake and two out of ten are breaking even. A quarter of the landlords of their acquaintance were only just starting out as Buy to Let investors.

Commented Robert Jordan, "Although some of the responses are the result of subjective judgement, they provide a very relevant picture of the success of Buy to Let from among Buy to Let investors."

The survey also asked landlords about the proportion of their mortgage borrowings. Nearly two-thirds had borrowed less than 76% of their investments and 17% borrowed less than a quarter of the value of their properties. However, 39% said that the average loan to value ratio of their rented residential property was more than 76%. Analysis of these responses show the average loan to value ratio is 59%.

FORGET THE GLASS SLIPPER – TRY A GLASS BED!

Around this time of year, we’re getting over the seasonal tales of glass slippers, glass coaches and the glass or two we’ve enjoyed! Or so we thought - after visiting the new Parkside show apartment at Greenwich Millennium Village, potential homebuyers are more likely take a different view on the ultimate indulgence and add a glass bed to their wish list for 2004!

Created by Connections in Design, the superb show apartment scheme includes the clean lines of contemporary materials such as glass, limestone, oak and stainless steel. Connections in Design says, ‘The inspiration for the interior is drawn from an idea of a modern coast line apartment with large open plan, light rooms overlooking waves crashing against the rocks! This vision reflects GMV’s approach to the preservation of nature and use of natural and innovative products in its developments.

‘The combination of glass, stainless steel, leather and stone creates a sharp, slick interior. Designed to appeal to a very stylish individual with a taste and appreciation for finer things whether it’s tailored designer clothes, the odd piece of classic furniture or classic films. They are also sympathetic to nature and understand its importance in our lives, including interiors.’

The open plan living space includes a comfortable seating area, a clean lined kitchen with optional island unit and a dining space – all bathed in light from a combination of large windows and the full-length patio doors that lead onto the balcony.
The bathrooms include a cool mix of natural finishes with limestone floor and wall tiles, chrome and mirror, set above wood veneer vanity units.

The bedrooms are a ‘dream’ – the master bedroom is a stylish combination of black and white with an impressive raised bed and wardrobes with a smooth, pressed finish in pale ‘gardenia.’

The second, spacious bedroom’s interior is a rich combination of textures in shades of grey and white, from the innovative pebble tiles inset into the flooring to the sand-blasted feel of the wall covering.

Even the artwork on the walls has tactile appeal, tempting visitors to touch. The bed, however, is the show apartment's ‘piece de resistance.’

The transparent bed frame includes a full height panel with a television/movie screen that appears to ‘float’ above the end of the bed. The whole room has a clean, futuristic feel that is enhanced by details – glass tables, open shelving and textured roll down blinds.

The type of bedroom to make you want to stay in bed all day!

Parkside is located on the western side of Greenwich Millennium Village, directly overlooking the expanse of parkland that lies at the heart of the Village, which also includes a man-made lake and the four-acre Ecology Park.

Residents of Parkside will also enjoy the two enclosed garden courtyards at the heart of the development, dramatically landscaped with hedges, grasses, ferns and flowering trees. Many of the apartments include high-level terraces or balconies from which to enjoy uninterrupted views across the park towards the River Thames.

Currently a range of one, two and three bedroom apartments, duplexes and penthouses are available at Parkside, with prices from £215,000.