Given the well-documented challenges currently being faced by the top end of the market, few would have predicted a bumper year for a street famous for its ultra-prime mansions.
But that’s exactly what’s being reported up on The Bishops Avenue, with over £250m worth of sales going through in the last 12 months.
According to agents, three trophy mansions have been tucked away at “circa £30m”, with a mix of houses and apartments accounting for the remainder. Buyers have come from places like Asia, Russia, USA, Iran, and Azerbaijan, attracted by the lower pound and significant discounts on 2014 prices (“up to 20%” in some cases).
It seems Harrison Varma’s recently-unveiled Buxmead project, billed as “the most exclusive and exciting development to ever launch in North London” has played a significant role in the revival of the famous address, with £54m worth of off-plan sales to date.
The “ground-breaking” scheme – which Savills and Glentree have been comparing to One Hyde Park in terms of sheer impact – is delivering 20 units including six duplexes, three penthouses and 11 apartments (weighing in at between 3,000 and 10,000 square feet) across a set of new-build and converted period buildings, amidst 2.5 acres of private, gated, landscaped grounds.
Having shifted 80% of the apartments released in Phase One last summer, setting a few new per square foot records in the process, the second and final rollout is happening this month with options ranging from a three-bed priced at £6.9m up to the last remaining penthouse, which is asking £15m.
Harrison Varma is claiming the highest per square foot amenity space per apartment in London, with facilities include a Coutts-run “white glove” concierge, a 25m indoor swimming pool, Techno gym, beauty & treatment salon, residents’ bar and lounge, pro cinema screening brand new releases, a grand 18-seater dining room, a business centre and enough reception space for over 100 guests.
Trevor Abrahamsohn: “This ground breaking development really has set the bar for next level luxury living – we have seen nothing like it since One Hyde Park. It offers a very unique opportunity to live in the most exclusive development, in The Bishops Avenue one of the most exclusive and cherished addresses.”
Savills’ Stephen Lindsay: “Buxmead has put Hampstead back on the International map buyers have been drawn to its prime location and proximity to excellent schools and the level of amenities which overshadow some of London’s finest hotels.
“Buxmead is high end luxury at its best, comparable to only One Hyde Park. Its represents good value as buyers get 16,000 sq ft of amenity space with so many facilities that visitor’s never even need to see residents homes. It supersedes anything I have ever seen in London and with this class of exceptional living there will always be demand, no matter how the market is faring.”
Mark Pollack at Aston Chase: “This pioneering development has helped propel The Bishops Avenue back to its heyday status. The exceptional specification, leisure facilities and services on offer at Buxmead will appeal to wealthy individuals seeking a home which offers the epitome of luxury, whether they are families seeking a lateral apartment or someone looking for a turn-key residence which they can lock up and leave.
“This is a perfect example of how exclusiveness and quality can prevail in a slower market. This pioneering development has been responsible for a fifth of the total sales at The Bishops Avenue in the last year and made it once again a notable global address.”
Anil Varma, Managing director at Harrison Varma: “We are delighted to be launching the second and final phase of Buxmead. We are extremely proud of the homes and class of amenities we have created here. Our reputation of creating legacy homes is at the core of everything we do and Buxmead is our most impressive to date. We have blended striking design with specialist craftsmanship and artisan trades to create a very special collection of timeless homes that combine our lifestyle concept – resulting in what we believe is the next level in luxury apartment living.
“We have achieved consistent sales proving a developer of repute with a quality product will always attract buyers. We have gained a reputation of creating legacy homes that combine with our lifestyle concept are the next level in luxury living.”
buxmead.co.uk T. 0208 8883 6600