Area in Focus: Marylebone – The Central London Favourite
Spring 2014

The new taxes introduced in 2012 targeting £2m+ properties purchased by companies have led a lot of international investors to divert their property portfolios from Mayfair to Marylebone. The location appeals to purchasers, as they are still able to buy a two bedroom flat within the £2m bracket, while its proximity to Mayfair makes it very desirable.

The Chilterns, Marylebone

Marylebone is a very centrally located area just off Oxford Street, one of the main shopping streets in London. Hyde Park and Regent’s Park sit on either side of Marylebone, making the location even more appealing with increasing numbers of people seeking easy access to open green areas as the weather improves. The parks offer endless possibilities for a great life outdoors, with swimming, boating, riding, jogging, cycling, music events, organised sports, fairs, festivals, and picnics, to name but a few of the potential recreational activities. Marylebone also has a very picturesque high street with charming boutique stores, salons, exclusive furniture stores, galleries, bookstores, small cafes, bars, and top restaurants, as well as all the major supermarket chains and high-end department stores such as Selfridges.

It is for these reasons that Marylebone has recently seen the highest growth in sales prices in central London. 2013 saw a surge in interest in the location, with activity continuing into 2014. According to Knight Frank, in the last 12 months average prices have increased 13.1%, while yielding total returns of 16.2% for the same period. The gross rental yield remains decent at 2.68%.

• Manors mlife, Spring/Summer 2014;
• Knight Frank Prime Central London Rental Index, February 2014;
• Knight Frank London Residential Review, Spring 2014.