Hampstead Hype

The North West London haven of Hampstead has been hitting all the right notes with a flurry of multi-million-pound property deals according to luxury estate agents Aston Chase

A series of £6 million-plus property deals in and around Hampstead in recent weeks is a testament to the strength of its market, despite challenging fiscal conditions, reports Hampstead experts Aston Chase. Thanks to its unique, urban village allure, says the estate agent, it retains its post-pandemic place as one of the Capital’s best-performing and most attractive markets.

Just five miles from Central London, Hampstead and its environs offer the perfect blend of urban and country life. Historically the preserve of artists and poets, its wide, leafy streets, often with a semi-rural feel, are lined with architecturally eclectic homes today owned by international billionaires, celebrated film-makers, fashion designers, sports moguls, footballers and financiers.

Easy access to its own Underground station and the 790-acre Hampstead Heath, plus a huge range of high-achieving schools in both the state and independent sectors, mean buying a home here offers excellent value for money compared to many other Prime London hot spots.

Aston Chase can report that a series of exceptional £6 million-plus properties it has been marketing in the area have all swiftly received offers, or met exchange dates, with figures close to or in excess of their asking prices, pointing to a period of particularly intense demand.

The first is a landmark property on Hampstead Lane, diagonally opposite stately Kenwood House and directly across the road from Hampstead Heath. Sold to a Partner at one of London’s ‘Magic Circle’ law firms for an undisclosed figure in excess of the £6 million guide price, this extraordinary mansion sits on a 0.53 acre plot and features 12,550 square feet of accommodation.

The unmodernised eight-bedroom mansion, which comes with an indoor swimming pool and parking space for up to 10 cars, was built some 30 years ago in a blend of Neoclassical and contemporary style, strikingly similar to ‘Springwood’, the country ‘White House’ in Hyde Park on the Hudson, New York, once owned by President Franklin D. Roosevelt.

The savvy purchaser can choose to carry out a comprehensive refurbishment and modernisation project which could transform the property and significantly increase the capital value or, says Aston Chase, subject to the necessary planning consents, could build a brand new substantial residence with approximately 15,000 square foot to include a lower ground floor leisure / well-being space with a resulting value of up to circa. £22.5 million.

Already perfectly configured and interior designed as a fabulous Hampstead family home, a semi-detached, 4,437 square foot six-bedroom period house on Ferncroft Avenue was recently sold to a British industrialist for a family member for close to its asking price of £6.75million. Moments from the West Heath Lawn Tennis Club and within an easy stroll of the village’s chic boutiques and eateries, the four-storey home comes with a 70 foot long southwest facing garden, four receptions and a huge children’s playroom, plus an integral garage and private off-street parking.

Also set to get a power-player owner is a spectacular James Bond-inspired home on Templewood Avenue, which with its audaciously designed Grade II Listed domed swimming pool hit global headlines when it came up for sale for offers in excess of £7.25million. On the edge of West Heath, and with far-reaching uninterrupted bucolic views, the contemporary detached house, built in the 1990s, is arranged over lower ground, ground and two upper floors, connected by a staircase and passenger lift.

Uniquely, the four-bedroom home has been designed around and integrates with the striking pool house, built in the late 1960s and inspired by Le Corbusier and the lair of the James Bond villain Auric Goldfinger. Topped off with a glass dome that reaches 18 feet at its apex, it interconnects with the rest of the health and leisure complex, which includes a gymnasium, spa and sauna.

A private haven for many household names over the generations, Hampstead draws in house buyers from all backgrounds and professions, with some of its most famous recent residents including Bernard Arnault, Ricky Gervais and Thierry Henry. Unsurprisingly, then, many properties in the area feature Blue Plaques one of which, in the heart of the village on Lyndhurst Road has also just been sold.

The house attracted press attention from around the world when launched onto the market due to the Blue Plaque celebrating Hollywood acting legend Richard Burton’s time at the house with Elizabeth Taylor. The semi-detached 5,132 square foot six/seven-bedroom Victorian home was marketed earlier this year for £7.95million and culminated in a successful sale partly thanks to the celebrity connection.

Mark Pollack, Co-Founder and Director of Aston Chase says: “Over the past few months, we have had the privilege of marketing a series of fine homes in and around Hampstead, which have all attracted considerable interest from prospective purchasers. Perhaps surprisingly, we are seeing many properties successfully achieving either close to, or exceeding, their asking prices defying the wider challenging market conditions.

“As a property-led, fleet-footed agency, we often introduce applicants that may have initially been looking closer to Central London, to houses in Hampstead and surrounding areas. Many home hunters find the area incredibly seductive as it ticks so many boxes on their checklist. Not only do buyers often get more bang for their buck than say, in the likes of St John’s Wood or Primrose Hill, they are also invariably able to secure a large house on a good-sized plot but still within excellent proximity to the West End and City yet, crucially, with immediate access to the iconic 790-acre landscape of Hampstead Heath.

“Both domestic and international families are drawn to the excellent educational offerings in the area, which include University College School, South Hampstead, King Alfred School, Henrietta Barnett in addition to both Channing and Highgate School in nearby Highgate. We have recently seen particularly strong interest from British-Indian families who always place great importance on education and are keen for their children to be in very close proximity to their schools.”

Mark Pollack continues: “The property market in Hampstead is full of opportunity for both buyers and sellers right now. With the recent sharp rise of interest rates, the cost of borrowing looks set to stay relatively high into 2024 resulting in some homeowners, who have been treading water hoping to ride out the storm, finally deciding that now, ahead of a General Election at the back end of 2024, is the time to sell up.”

“Consequently, there is presently an unusually large number of rarely available properties coming to the market for the first time in many years. A number of these properties require major refurbishment but offer exceptional scope for discerning buyers willing to take on a project. Similarly, there are many motivated vendors willing to be pragmatic about price if a buyer is able to perform swiftly without the need of finance.”

“Issues of affordability and the amount of money people are able to borrow on buying a home of course makes a huge impact, coupled with the sense of uncertainty and the tragedy of war unfolding across the globe. People do, however, continue to buy and sell homes, and somewhere like Hampstead is viewed as a true safe haven, both in terms of market fluctuations and as a place to breathe.”

Luckily, for those looking to get in on the action, Aston Chase is marketing a number of impressive properties both in Hampstead and across the prime areas of North West London.

www.astonchase.com