The Steeple Times

Tag: Kensington

  • Slumping Super-Prime

    Slumping Super-Prime

    Sales of super-prime properties in the UK fall by 86%

     

    Yesterday, the property group London Central Portfolio released data that showed that sales of £10 million-plus properties in the UK had fallen 86% over the past year.

     

    Blaming hefty Stamp Duty increases and Brexit uncertainty, the firm reported that just 5 “super-prime” properties had changed hands between June and August compared to a recorded 35 a year earlier. All of the sales in the period this year were in Central London whilst such properties accounted for just 30% of the figure in the year previous.

     

    Top-end developers, whose sales accounted for 23% of the figure in 2015, were especially affected. They made zero sales in this price bracket in the period and now, according to Naomi Heaton, CEO of LCP, they are reworking their developments to create smaller, cheaper units.

     

    Slumping Super Prime – Sales of super prime properties in the UK slump 86% in 2016 due to Stamp Duty hikes and Brexit uncertainty reports the London Central Portfolio property group – October 2016
    Citygrove Securities PLC and McClaren Properties’ The Clearings development in Chelsea’s Milner Street is being reworked to include fewer super-prime properties

     

    Of this, Ms Heaton commented:

     

    “Many [developers are] looking to divide large, high-priced property into smaller flats to increase their attractiveness”.

     

    Examples given by LCP include Clivedale’s Hanover Square development – where the scheme is being reworked to create four times as many units – and Citygrove Securities PLC and McClaren Properties’ The Clearings development in Chelsea’s Milner Street – where seven townhouses will be replaced with smaller properties.

     

    Speaking more generally, Ms Heaton – who predicts the consequences of this development will be a £45 million fall in Stamp Duty receipts to the government – added:

     

    “This slowdown in the luxury property market—a big contributor for the Exchequer and UK economy—is very concerning. As the government faces the daunting task of negotiating Brexit together with a potential slowdown in the UK economy, it should consider its strategy on residential-property taxation carefully to ensure it meets its objectives of increasing revenues”.

     

    Stamp Duty on a £6 million property was £420,000 under the old system; it is now £633,750. On a £2 million property it was £100,000; it’s now £153,750 whilst in addition buyers of second homes and investment properties now have to pay an additional 3% surcharge also.

     

  • Religious Pigeons

    Religious Pigeons

    Grade II* listed North Yorkshire hall for sale; it comes with a converted chapel and a converted pigeon loft

     

    £925,000 ($1.14 million or €1.03 million) will barely buy a broom cupboard in Kensington and Chelsea, but for the same sum a 3,893 square foot Grade II* listed medieval hall in the Yorkshire Dales National Park.

     

    Standing on a plot of 2½ acres, Kilnsey Old Hall in the picturesque village of Kilnsey, near Grassington was built as an administrative centre for the Cistercian Monks of Fountains Abbey. It was from here that they managed their grazing land and all flocks of sheep were driven to Kilnsey for their annual shearing. In 1648, the majority of the current hall was built by Christopher Wade, a relative of Armagil Wade, an adventurer who was known as the ‘Columbus of the North’. It has now been restored and certainly makes for a charming family home.

     

    In addition to there being four bedrooms in the main house, Kilnsey Old Hall comes with a former pigeon loft on the third floor and a former chapel that was converted into a stable and hayloft and now a one bedroom cottage. This has been used as a holiday let and is described as “bringing in a useful source of income”.

     

    The joint selling agents for the property are Carter Jonas and Harrison Boothman.

     

    Religious Pigeons – Kilnsey Old Hall, Kilnsey, North Yorkshire, BD23 5PS – £925,000 ($1.14 million or €1.03 million) – Carter Jonas and Harrison BoothmanReligious Pigeons – Kilnsey Old Hall, Kilnsey, North Yorkshire, BD23 5PS – £925,000 ($1.14 million or €1.03 million) – Carter Jonas and Harrison Boothman Religious Pigeons – Kilnsey Old Hall, Kilnsey, North Yorkshire, BD23 5PS – £925,000 ($1.14 million or €1.03 million) – Carter Jonas and Harrison BoothmanReligious Pigeons – Kilnsey Old Hall, Kilnsey, North Yorkshire, BD23 5PS – £925,000 ($1.14 million or €1.03 million) – Carter Jonas and Harrison BoothmanReligious Pigeons – Kilnsey Old Hall, Kilnsey, North Yorkshire, BD23 5PS – £925,000 ($1.14 million or €1.03 million) – Carter Jonas and Harrison Boothman Religious Pigeons – Kilnsey Old Hall, Kilnsey, North Yorkshire, BD23 5PS – £925,000 ($1.14 million or €1.03 million) – Carter Jonas and Harrison BoothmanReligious Pigeons – Kilnsey Old Hall, Kilnsey, North Yorkshire, BD23 5PS – £925,000 ($1.14 million or €1.03 million) – Carter Jonas and Harrison BoothmanReligious Pigeons – Kilnsey Old Hall, Kilnsey, North Yorkshire, BD23 5PS – £925,000 ($1.14 million or €1.03 million) – Carter Jonas and Harrison BoothmanReligious Pigeons – Kilnsey Old Hall, Kilnsey, North Yorkshire, BD23 5PS – £925,000 ($1.14 million or €1.03 million) – Carter Jonas and Harrison Boothman Religious Pigeons – Kilnsey Old Hall, Kilnsey, North Yorkshire, BD23 5PS – £925,000 ($1.14 million or €1.03 million) – Carter Jonas and Harrison BoothmanReligious Pigeons – Kilnsey Old Hall, Kilnsey, North Yorkshire, BD23 5PS – £925,000 ($1.14 million or €1.03 million) – Carter Jonas and Harrison Boothman

  • Pandemonium of Park Parakeets

    Pandemonium of Park Parakeets

    Rose-winged parakeets are prospering in Kensington Gardens and bringing joy to visitors

     

    Bringing a note of joy to our otherwise troubled world, a pandemonium of rose-winged parakeets are currently entertaining visitors to Kensington Gardens.

     

    Over fifteen of the green birds are now to be found next to the park’s The Long Water in the area to the north of The Serpentine Gallery and to the south of the Italian Gardens. They are delightfully welcoming to visitors – especially those with bird seed – and are an attraction well worth visiting.

     

    Pandemonium of Park Parakeets – Parakeets in Kensington Gardens, London Pandemonium of Park Parakeets – Parakeets in Kensington Gardens, London Pandemonium of Park Parakeets – Parakeets in Kensington Gardens, London Pandemonium of Park Parakeets – Parakeets in Kensington Gardens, LondonPandemonium of Park Parakeets – Parakeets in Kensington Gardens, London

     

     

    Subscribe to our free once daily email newsletter here:[contact-form-7 id=”225″ title=”Contact form 1″]

     

  • The ultimate iceberg home

    The ultimate iceberg home

    House in The Boltons goes on the market for £27.5 million more than it was marketed for in 2012 complete with an extra four levels of accommodation (more…)

  • Wally of the Week – Zipporah Lisle-Mainwaring

    Wally of the Week – Zipporah Lisle-Mainwaring

    Neighbour-from-hell Zipporah Lisle-Mainwaring steps up her campaign to annoy her neighbours in Kensington (more…)

  • Anarchy in the UK

    Anarchy in the UK

    Richard Young Gallery hosts a private view of ‘Anarchy in the UK’ (more…)

  • Picture of the Week: Going for gold

    Picture of the Week: Going for gold

    Gold cars appear to be all the rage with London’s visiting Arabs this season (more…)

  • Review – Kensington West Hotel

    Review – Kensington West Hotel

    Matthew Steeples reviews the Kensington West Hotel – an ideal hotel for travellers seeking value in a convenient location in London (more…)

  • The Ranting Crasher

    The Ranting Crasher

    The Ranting CrasherA lover of parties in Central London, little else is known of The Ranting Crasher. (more…)

  • The Inspector Clouseau lookalike

    The Inspector Clouseau lookalike

    The Inspector Clouseau lookalikeA new sidekick for David Pun in 2016, The Inspector Clouseau lookalike is undoubtedly also a fellow lover of free champagne. (more…)