In the heart of Knightsbridge — the playground of the elite — 33 brand new luxurious homes have been launched onto the international property market to rent for up to £9,000 a week.
Opposite One Hyde Park, considered the area’s flagship apartment block, and between Harrods and Harvey Nichols, Knightsbridge Gardens has been branded as the first “super-prime residences for rent” scheme in London — or the most expensive build to rent block in the capital.
The new one-to-four-bedroom apartments are serviced by a five-star concierge service with access to a members club room, an Orangery, meeting rooms and a quiet private courtyard, which is totally enclosed and shielded from Brompton Road and Sloane Street. Prices for a one-bedroom pad start from £1,250 per week (£65,000 per year) to more than £9,000 per week for a four-bedroom home (£468,000 per year).
The dual aspect trophy apartment overlooks Harvey Nichols through deep bay, mullioned, arched windows in what is considered one of London’s golden postcodes.
According to recent research from Harrods Estates the post pandemic property market in Knightsbridge and North Belgravia, known for its branded residences, hotels and private hospitals, has bounced back. The average rent has risen 40 per cent since the trough of the market during Covid-19.
Leave the lights on
The entrance is down a quiet side street that has transformed as part of the project from dark alleyway to a walkway tiled in red glazed tiles to reflect the original era and lined with Narnia-esque street lights.
Designed by interiors firm Taylor Howes, there’s a pared back industrial–meets–art deco feel with high ceilings, marble floors and huge pieces of feature art.
It’s all in the marketing. Not only is this the most exclusive new rental block but it is also a "lights on scheme" with the owners trying to encourage their tenants to sign up for a minimum of two years, although a spokesperson for the scheme said that this was negotiable. "Their desire is for two years but they will consider each piece of interest individually," she said.
The private owners, the Olayan Group is going after the "mobile" and global high networth individual (or family) who travel the world with boltholes in many different cities and don’t stand still for very long.
"At these upper levels of the market, tenants are renting as a lifestyle choice. Renting gives them flexibility and freedom from running costs and service charge. Plus the flexibility to relocate whenever suits them," says Arya Salari of Knight Frank.
The lights may be on, but this is still destined to be a transient micro community in a transient part of London well-known for its tourists.
Showroom-style stores replace shabby shops
As part of the restoration, the owners also worked with Transport for London to improve access to Knightsbridge Underground Station and to widen the pavements for shoppers.
Mostly built in the early 1900s the four-storey red brick stretch was a mixture of tired Edwardian townhouses, with shabby shops on the ground floor, and some apartments above. Bomb damage meant some parts had been replaced in the post war era.
Plans for the restoration have been in the offing since the Olayan Group (originating in Saudi Arabia with headquarters now in Lichtenstein) bought the site in 2010.
Through the architects Fletcher Priest, the entirety of the northern end of the estate was demolished behind the facade and rebuilt.
Large showroom-style store units for experiential shopping have been hollowed out on the ground floor and any modern fronts reworked to entirely copy what would have been there more than a century ago in what was known as the Edwardian Belle Epoque style.
