Matthew Neville

The London “brandmarks” commanding the highest house price premiums

Research from London lettings and estate agent Benham and Reeves has revealed which of London’s prominent “brandmarks” have the most significant effect on local housing prices.

For example, the estate agent revealed that to live within arm’s reach of the “much-slated” Westminster Nusr-Et Steakhouse fronted by social media sensation Salt Bae, residents would have to pay £2,082/sq ft. This is a house price premium of 76 per cent when compared to the wider Westminster borough average.

The most expensive brandmarks in the capital are said to be located in the W1K postcode area, including hotels such as Claridge’s, The Dorchester, and The Connaught. Homes here cost an average of £2,413/sq ft, a premium of 104 per cent compared to the wider Westminster average.

Just around the corner from these “opulent” hotels is White’s, the “oldest and most exclusive” gentlemen’s club in London. Founded in 1693, current members include Prince Charles and David Cameron.

Located in the SW1A postcode area, to buy a home nearby, prospective residents will have to pay £2,179/sq ft which is a premium of 85 per cent compared to wider average in the borough.

In another Westminster postcode area, W1J, which covers much of Mayfair, you’ll find such famous brandmarks as private members club Annabel’s; Michelin starred Chinese restaurant Hakkasan Mayfair; and 5 Hertford Street, once described as London’s most secretive club.

To buy a home in the same postcode as these establishments will cost an average of £2,057, 74 per cent higher than the borough average. Elsewhere across the city, a home close to Harrods in the SW1X postcode area of Kensington & Chelsea will require a premium of 59 per cent.

Director of Benham and Reeves, Marc von Grundherr, commented: “London is jam-packed with globally renowned brandmarks. Many of them are found within a couple of square miles of each other in prime central London, occupying some of the most rarefied real estate on the planet.

“The good news is, however, that London isn’t actually that big. So you can live in a far more affordable part of town and still find yourself within just a 20-30 minute commute of these famous locations.”

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