Lodha has officially launched the top-tier Penthouse and Terrace Collection of residential units at its super-prime Lincoln Square scheme – located on a rare island site next-door to the LSE in London’s legal-land between Covent Garden and the City – to the sales market.
Lincoln Square is scheduled to complete in early 2019, and is one of two much-anticipated Lodha developments in London; the other being a residential conversion of the old Canadian High Commission at No.1 Grosvenor Square in Mayfair. There’s also a recently-acquired “Lodha-affiliated” cinema-to-super-prime project on High Street Kensington.
This Penthouse and Terrace Collection comprises two penthouses and four sub-penthouses, set across the top three levels of the PLP London-designed buildings, with two apartments on each floor. All these apartments come with sprawling rooftop terraces offering views of the central London skyline, including St Paul’s Cathedral and the City of London. The two penthouses are situated in the South and West Wing, and measure 2,860 and 3,201 square feet respectively.
Interior designs are by 1508, providing a classy but masculine take on urban living. Plenty of full-height windows drench spaces in natural light, while lavish materials include Spanish marble in the bathrooms and black French marble in the entrance halls; Sub-Zero, Gagganau and Wolf appliances kit-out kitchens, and all units are up to the Code for Sustainable Homes’ Level 4.
Bowler James Brindley is behind interiors across the rest of the scheme; the BJB team told PrimeResi last year that they were inspired by the development’s buildings (designed by architects PLP London) to create “understated, elegant” interior spaces “to provide a luxurious backdrop aimed at a resident likely to have lead a distinguished, cultured life.”
The 221-unit wider scheme offers residents some 17,000 square feet of amenity-space designed by Spanish architect and designer Patricia Urquiola. Amenities include a 25-metre swimming pool and spa (with vitality pool, ice & mist showers, sauna & steam room), gym, private club and library, 24-person private cinema room, private dining room, plus a snooker and children’s play area.
Beyond physical amenity spaces, Lodha is going town on lifestyle services at Lincoln Square. The developer is introducing St Amand to the UK for the first time (Lodha uses St Amand for servicing in its other global top-end schemes, including its record-breaking Altamount in Mumbai), and has recruited Stéphane Palluault – previously Resident Manager at the The Royal Automobile Club on Pall Mall – as the scheme’s General Manager to run in-house hospitality.
Palluault will work alongside the team at St Amand to deliver an array of lifestyle services for residents, including a personalised 24 hour Concierge, wellness facilities & beauty treatments, and a clubhouse that’s aiming “to foster a sense of community focused on cultural and educational exchange”.
It sounds as though demand for apartments in Lincoln Square is shaping up well. Last Summer, Lodha’s Managing Director Abhishek Lodha told CNBC that “things have actually been quite good” in Prime Central London despite Briexit uncertainty, noting a good spread of international buyers coming in to Lincoln Square. Now, the developer’s Sales Manager Alex Rusling is reporting some robust interest in “genuinely unique properties in desirable locations”.
Two-thirds of units at Lincoln Square have already been sold ahead of completion early next year – including the recent sale of a sub-penthouse at £3,200 per square foot.
The first Lincoln Square units launched to market back in 2016. The project has been financed with two chunky loans via Cain Hoy since then – including a massive £290m construction finance deal last May.
Gabriel York, C0-CEO of Lodha UK: “At Lodha we pride ourselves on working with world leaders, from design, architecture and hospitality. That is why we are launching an in-house hospitality service rather than outsourcing to external management agencies, to ensure that we can adhere to our exacting and unrivalled standards.”
Stéphane Palluault, General Manager of Lincoln Square: “I am delighted to have the opportunity to be part of the Lincoln Square project at this exciting time. The Lodha product is truly exceptional, and the in-house service arm will revolutionise the residential hospitality concept. The team and I really look forward to welcoming the residents to their new homes and cater to their every need with an incomparable level of service year-round.”
Alex Rusling, Sales Manager of Lincoln Square: “It has become increasingly clear from the interest and sales at Lincoln Square, which continues to go from strength to strength, that buyers in today’s market conditions are seeking genuinely unique properties in desirable locations with an inherent under-supply. As we move closer to completion, we expect this confidence and interest to increase significantly as buyers get to really see and understand the attention to detail and character that Lincoln Square offers.”