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July 13, 2010
Where To Live In London: Knightsbridge
Knightsbridge is the area centred around Knightsbridge Road, encompassing the SW1X postcode as well as parts of SW3 and SW7. Knightsbridge has become the most expensive place to live in London, as wealthy Russians and Arabs have flocked to area. Their prime interest in Knightsbridge is Harrods Department Store, the iconic luxury shopping mall. The Harrods factor has spearheaded a push in housing prices in Knightsbridge, solidifying it as one of the most expensive areas in London.
The popularity of Knightsbridge has come to a head, at least at the moment, with the ultra-luxurious One Hyde Park development from the Candy Brothers and their Qatari investors. The development includes access to the Mandarin Oriental hotel’s amenities as well as gym, spa and panic rooms. Flats in the development are selling at prices in excess of £20 million.
Properties in the area, aside from One Hyde Park, tend to be part of either the Cadogan or Grosvenor Estates and rented or sold off as leaseholds. The Cadogan Estate properties are marked by a red brick and stone architecture, whilst the Grosvenor Estates favour the more Kensington-styled white stucco facade. Almost all of the properties will be row houses or terraced, with many of them having been broken up into flats.
For those who desire more space to stretch out, or those wanting to avoid the crowds that come with living between Harrods, the Victoria and Albert Museum and Hyde Park, Knightbridge may not be the best location. Knightsbridge is best suited for a livelier crowd than some of the other areas in West London, as it is very close to most of the London social acticity. That activity also comes with a premium, as those who wish to be near Harrods, Hyde Park and the centre of London have been drawn to the area like a magnet. Properties in SW1X will tend to go for prices higher than £1500 per square foot, with many between £2000 and £2500 and the One Hyde Park flats tending to sell for £4000 per square foot.