VICTORIA is fast becoming one of the capital’s premium destinations, with a £4bil (approximately RM22bil) regeneration programme across SW1 providing cutting-edge, high-end residential, office and retail floor space. However, this major investment is long overdue.
For too long, Victoria has not lived up to its political and royal heritage, overshadowed by its neighbouring districts. Its central location, destination as a major London travel hub and rich history provide the perfect opportunity for those that wish to reap the rewards of London’s ever-booming property investment market.
Prime Central London’s residential property prices grew by 76% between 2009 and 2015 – an average of just under 9% growth a year – as the city continues to provide attractive investment prospects for astute buyers both from within the United Kingdom and further afield.
Victoria itself has outperformed all other central London regions, with property prices rising by 88% since 2009 , with the wider City of Westminster also predicted to outperform wider London in terms of both economic output and job creation over the next five years.
Simply put, Victoria is the star residential investment performer in a city that is widely regarded as the most important city for the world’s ultra-wealthy.
With thousands of new office workers expected in the region after all developments are completed, the provision of retail and residential space is vital to deliver the vibrant, thriving hub that London so desperately needs.
Across the district, over three million sq ft of prime retail, office and residential space is being developed, creating a self-sustaining community for wealthy Londoners looking to enjoy quality living, dining and shopping.
Phillips de Pury, the international auction house, is surrounded by a host of global, leading fashion brands such as Tom Ford, Dolce & Gabanna, Marc Newson, Burberry and Jimmy Choo. With Mayfair, St James’, Sloane Square and Knightsbridge all a short stroll away, the area’s collective shopping offer is set to rival that of Regent Street to the East.
Glamorous shopping is matched by luxurious dining, with a feast of gastronomy’s finest outlets set to open in the coming years. Michelin-star chef Jason Atherton is at the head of the dining wave headed to the City of Westminster, with his much-anticipated NOVA restaurant due to open next year.
Victoria’s remarkable cultural offering is, perhaps, unsurprising given its location, with Buckingham Palace, Westminster Abbey and Victoria Palace Theatre providing a historic heart to an increasingly contemporary destination.
When combined with its close proximity to The Thames and abundance of green space – home to over 4.2 million sq ft of royal parks – the district is evolving into one of the most well rounded affluent areas in London, with all features of luxury living mere minutes away.
Yet, increasingly, many Londoners yearn for breaks from the bustle of city life, with the soon-to-be-revamped Victoria station and its nearly 700 overground trains each day offering short trips to some of Britain’s most prized retreats, from the celebrated Sussex Downs to the seaside charm of Brighton.
Gatwick Airport is also just 30 minutes’ away via the Gatwick Express, opening up Victoria to 177 cities across the world. Closer to home, three underground lines (Victoria, Circle and District) already intersect in the district, providing easy access to London’s other famous quarters.
With £700mil (approximately RM3.7bil) being invested into an already-bustling development, the new Victoria Station will equip the region with a cutting-edge transport hub.
With a host of leading companies such as Microsoft, American Express and E.ON all joining the likes of Google, Boeing and John Lewis in the area, Victoria is set to prosper from an influx of major corporations keen to snap up the new world-class office space on offer.
The ever-increasing trend of providing these businesses’ employees with conveniently located living space that matches the quality of their working environment has led to a surge of residential developments in Victoria.
At the heart of this ‘Victoria-renaissance’ is 55VS – a high-end residential development conceptualised by Alchemi Group in collaboration with multi-award-winning architects Stiff + Trevillion. This impressive building, located on Victoria Street and less than half a mile from the Houses of Parliament, brings New York-style loft living to one of London’s most prestigious addresses.
Alchemi
The development features Danish charcoal-fired brick cladding and handcrafted terracotta glazed tiles, offsetting luxurious marble and dark timber flooring. Stunning bronzed balustrades in the 7m-high reception lead to the 57 spacious one-, two-, three- and four-bedroom apartments and penthouses, each offering up to 3,100 sq ft of living space.
Featuring nearly three-metre-high ceilings and five-metre-wide floor-to-ceiling windows that provide breathtaking views across London’s skyline, the generous open plan spaces look to bring together the legacy of the area with the contemporary Manhattan loft design styled by Studio L, London.
Reflecting the amount of rich greenery in the neighbourhood, 55VS has striking outdoor spaces for its new residents. Private balconies and terraces are supplemented by two additional communal spaces, including an 8th floor Sky Garden, providing views from Battersea Power Station to Southwark Cathedral, further drawing on the Manhattan roof top vision with London’s skyline serving as the backdrop.
Foxtons new homes & investments director Mark Goodeve-Docker commented, “Victoria is widely acknowledged as London’s top residential investment market, with outstanding returns on offer for savvy buyers with plenty of capital. The wider regeneration of the area will create a truly distinct destination, seamlessly combining all aspects of modern life within a spectacular environment. 55VS represents a wonderful opportunity to take advantage of the region’s prospects by purchasing a world-class residential unit.”
Just 18 of the 57 apartments are still available in 55VS, meaning the window for taking a slice of central London’s new premium heart is constantly narrowing. With apartments starting at £1mil (RM5.29mil) and available for immediate occupation, interested parties should contact: sales@55vs.co.uk or visit the website www.55vs.co.uk
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