Northacre’s One Palace Street is one of central London’s flagship prime resi developments, transforming a smorgasbord of former government office buildings into 72 luxury apartments, opposite Buckingham Palace.
Construction works on the 153,000 square feet scheme have been romping along despite the pandemic, with two show apartments opening at the end of last year.
PrimeResi took a tour of the marketing units – which appear to be working; a £6m apartment was sold to a European buyer on the same day. We hear selling agencies JLL and Clifton have managed to drum-up frequent viewings despite the ongoing pandemic and travel restrictions.
Behind the scaffolding, interiors have been created by the Natalia Miyar Atelier, named as one of Conde Nast’s House & Garden magazine’s Top 100 Designers. Miyar has brought a world flavour to the spaces, with touches informed by her Cuban American roots and Mexican heritage, custom-made pieces adding homely personality to the rooms, and artworks lending extra panache (some of the artworks will be familiar from previous Northacre projects, where they dressed other show units).
Inspired by the development’s contrasting facades, the two apartments have very different feelings. One is light and expansive with classical renaissance-style plasterwork, parquet flooring and a grand air. The other is more contemporary, with masculine textures and a cosier vibe. Both are infused with marble and top-notch fittings.
“No 1 Palace Street’s two show apartments have been incredibly well received,” says Head of Sales Simon Edwardson. “The contrasting style of the apartments has really helped buyers focus their purchase either within the contemporary or the historical part of the building.”
“Working on No. 1 Palace Street, the iconic location, really informed a lot of the choices I made,” explains Miyar. “My process always starts with getting to know and really understand the space on a holistic level. I come in and walk through the rooms, even try to sit in the rooms to try to envisage how each space feels to enable me to create a home. I was inspired to choose and create a number of pieces that celebrated the tradition of heritage and craftsmanship. I think items which are individually handmade have carry imperfections that make them even more beautiful.”
The larger “Renaissance” apartment features a medley of contemporary and vintage furniture, reflecting the interior architecture of the space. The bathroom, for example, is all modern, while the fireplace and deep-set window alcoves are more traditional. “It has a harmonious diversity with the architecture, and you can see that’s reflected in the dressing of the space,” says Miyar.
Show Apartment 1: Renaissance
Show Apartment 2: Contemporary
Simon Edwardson, Northacre’s Head of Sales: “No 1 Palace Street continues to attract buyers from all demographics, but notably Asia and the Middle East. 2020 has brought a real increase in enquiries from the UK, EU and the USA. Many are looking north of £10m for large spaces and this is something that No 1 Palace Street offers in abundance.
“No 1 Palace Street’s two show apartments have been incredibly well received. The contrasting style of the apartments has really helped buyers focus their purchase either within the contemporary or the historical part of the building.
“The fundamentals of this large unique site with only 72 apartments and views towards Buckingham Palace’s private gardens continues to attract buyers in search of the ultimate trophy asset.
“Technology has allowed us to continue our sales & marketing efforts through software specifically designed for No 1 Palace Street. We have been able to walk potential buyers through each aspect of the site. We expect virtual viewings to continue into 2021 as an initial ‘first viewing’.
“Looking ahead to next year we remain positive. With the news of a vaccine bringing confidence to global travel, we have already noticed an increase in inward travel which in turn has led to the crystallisation of deals, when spending upwards of £10m, understandably people want to physically see what they are buying.
“In exciting news, as we speak to our friends at Prime Resi, we have this afternoon just exchanged on a £6m apartment with a European buyer. A sign of things to come?!”