International interest in central London is helping to sustain a resilient market. Paired with the passive income of potential rental returns, the long-term security provided by the UK’s capital has long had a magnetic pull on foreign investors.
However, in an increasingly complex and sophisticated market, a combination of excellent connections, industry acumen and a tailored approach is required to secure significant sales in Prime Central London. A Grade II-listed property on Bloomsbury’s Burton Street provides a standout example. Comprising five turnkey apartments, the late Georgian property was listed with a guide price of £6.15m.
A complex sale
Overseeing a portfolio of blocks, the client was acting on behalf of an asset management firm. This SPV (Special Purpose Vehicle) instruction was complex, requiring an experienced broker with excellent knowledge of the market. Furthermore, the seller requested a discreet transaction and a stringent vetting process.
To manage the relationship and carefully find a suitable buyer, United Kingdom Sotheby’s International Realty deployed both Director Darcy Hunt and Senior Director Catharine Che. A Chinese investor was subsequently identified, and within three months a sale was agreed and completed without it ever coming to market.
“Catharine and I are thrilled to have completed this SPV sale, securing a high-yielding block of flats with strong long-term potential,” explains Darcy Hunt, a Director at United Kingdom Sotheby’s International Realty. “This deal reflects both the resilience of the market and the value of expertise in navigating intricate transactions.”
A rare unbroken residential freehold, configured as one three-bedroom apartment and four two-bedroom apartments, the property spans 3,879 sq ft over five floors. Beyond, Burton Street offers excellent transport links with King’s Cross St Pancras Station 500 metres away and Euston Station within just 300 metres. A neighbourhood with literary provenance, Charles Dickens is commemorated with a blue plaque, having lived opposite at Tavistock House.
“Our client chose United Kingdom Sotheby’s International Realty because of our proven expertise in handling complex SPV sales and our unrivalled network of seasoned brokers,” Darcy adds. “Leveraging our deep market knowledge and global connections, we secured a buyer without marketing the property – demonstrating the power of discretion, experience and strategic deal-making.”
The market backdrop
Spanning Kensington, Chelsea and Mayfair as well as Knightsbridge and Belgravia, Prime Central London (PCL) is considered by many to be expanding into neighbouring postcodes – including Bloomsbury. The WC1 postcode benefits from proximity to Soho, Regent’s Park and Covent Garden.
Fitzrovia, to the west, provides an array of restaurants along Charlotte Street including Carousel and Pied à Terre – the only restaurant in London that has retained a Michelin star for 30 years. From Burton Street, Russell Square and the British Museum are within walking distance as are the University of London and its School of Oriental and African Studies (SOAS).
The buoyancy of the PCL market is increasingly underpinned by foreign investment. Currently, 70 per cent of United Kingdom Sotheby’s International Realty buyers in PCL are international. The share of US buyers purchasing London homes almost doubled in the first six months of 2024, compared to the latter half of 2023. This trend is increasingly touching on areas such as Bloomsbury where terraced houses are currently selling for an average of £2.6m, according to Rightmove data.
The gravitas of listed status
Far outweighing the consequent restrictions, the pull factor of listed property underlines the appetite for investing in a piece of English history. The block on Burton Street sold by United Kingdom Sotheby’s International Realty is one of a clutch of door numbers assigned listed status in 1974.
These properties were designed and built by the architect James Burton, after whom the street was named, between 1801 and 1813. Constructed from London stock bricks with fanlights, expansive sash windows and a stucco façade at ground level, they bear the hallmarks of classic Georgian homes. The railings outside are also listed. This goes some way to show the level of custodianship afforded to historically and culturally significant residences in London.
The dynamism of a metropolitan neighbourhood paired with the provenance of a listed, heritage home draws interest from domestic and international buyers alike. Foreign buyers in particular are showing a growing interest in trophy asset ownership. London offers a significant market for this, from grand Edwardian townhouses to sprawling apartments in mansion blocks.
Consult our web pages for more information about selling or buying a property. Alternatively, contact Director of Sales Darcy Hunt directly.
