Long popular with A-listers and creatives, Marylebone’s property market is booming. Over the years, the area, which centres around chic boutiques and a buzzy high street, has played home to everyone from Charles Dickens to Paul McCartney (who supposedly wrote The Beatles hit Yesterday in an attic on Wimpole Street).
Since Covid in particular, both buyers and renters have been hooked in by its village-feel and convenient access to some of London’s best and greenest parks.
Nicholas Gray, sales and marketing director at Native Land, a high-end property developer, said: “We are definitely seeing increased interest from wealthy buyers in Marylebone. A decade ago, it might not have been considered on a par with places like Mayfair and Knightsbridge. However, buyers now appreciate all the things that make the area special: the local feel of its high street, its proximity to Hyde and Regent’s Park and the fact it feels more liveable, with a true sense of community, than the rest of prime central London.”
Across the whole of prime central London (PCL), Marylebone enjoyed the biggest increase in buyer registrations between autumn 2020 and autumn 2021, according to Knight Frank. It was also the most popular last to rent a home in PCL last year, research by London Central Portfolio shows.
However rising demand means supply has been drying up. Luckily several new schemes have come to market recently, helping to meet demand. Native Land has two residential schemes in Marylebone – TwentyFive, which is complete, and 100 George Street – currently under construction.
Already more than two-thirds of the apartments at TwentyFive have been snapped up, including both penthouses which sold pre-completion. The residences have high-quality amenities, including a fully equipped gym, secure basement parking, extensive storage facilities, concierge and 24-hour security. Prices start from £1.35m.
“At the moment buyers are very interested in ‘liveability’ – perhaps having spent so much time at home over the past 18 months, they want to ensure their properties are homely in the traditional sense, rather than simply a trophy asset,” Gray added. “That is why we have designed TwentyFive around the principal of lateral living – with fluid open spaces and lots of natural light.”
The George Street scheme will include 35 high-end apartments and six duplex penthouses – with terraces looking out over Hyde Park.
On the rental side, in late 2021 the number of properties available to let was down by 85 per cent compared with the same period the previous year, according to data provider LonRes. Here too there are new options coming through.
One key scheme is The Marlo – a collection of 29 chic apartments and two penthouses that is the largest ever high-end rental scheme in Marylebone Village. All residents enjoy access to a sunny garden room which leads on to The Marlo’s courtyard garden, one of very few private open spaces in Marylebone.
“Each apartment is unique and has its own personality. Absolutely nothing is off-the-shelf as we know quality, comfort and attention to detail is so important to people seeking to rent in Marylebone,” says Bruce Thompson of Dorrington, the developer behind The Marlo.
Renters at The Marlo enjoy a boutique hotel experience, with staff drawn from the hospitality sector, concierge services and specially curated residents’ events. The scheme is pet friendly and residents have access to secure bike storage and car club membership.
Prices for long lets start from £811 per week. Shorter-term lets on a fully managed basis are also available. Around half the apartments are offered furnished.