It’s the extras that accompany new-build apartments which tick the boxes for professionals. Tim Harrison asks why some people like traditional, while others want shiny
To the owners of sturdy red-brick Victorian houses, the lure of glassy elevated new-build apartments is a mystery, but a gleaming flat is of huge appeal to professionals who simply want to march in to their new home.
Putney and Wandsworth have seen a boom in new flat-building in recent years, especially near the river… so what is the allure?
Dominic Reeves, who manages Dexters’ branch in Putney High Street (020 8789 9999), identified several factors – not least the peace-of-mind guarantee. For further details click here
“New-builds come with a 10-year National House-Building Council warranty, and for many people who are working long hours the idea of having secure underground parking and a concierge service is very attractive,” he said.
“The benefit of having on-site facilities such as gyms and libraries is a huge convenience.”
A good example is Point Pleasant, the SW18 development where Dexters is currently offering a new fourth-floor one-bedroom apartment for £325,000.
The large double bedroom has built-in wardrobes, there is a modern bathroom and open-plan kitchen, and the living room leads on to a balcony. The flat also has secure underground parking.
A contemporary development just a five-minute stroll from the river, Point Pleasant has a lot going for it. A 15-minute stroll and you’re at East Putney tube station, while a two-minute stroll towards the river takes you to the Cat’s Back pub, a lively little local.
The crisp, clean angular lines of new-build apartments appeal to many professionals over the sturdy old mansion-block alternatives of yesteryear, but Putney is an area where Victoriana can be equally as enticing.
A lived-in look and quirky features such as fireplaces, stained glass and tiled porches will always be popular, although maintenance issues are bound to arise.
New-builds are clean, fresh and designed for the digital age, but can’t compete for character.
Worldwide financial uncertainty, typified by the recent Cypriot bank bailout and forced levy on savers, has led many overseas investors to conclude that London’s bricks and mortar are a safer bet than deposit accounts… with most preferring new-build as pieds-à-terre or straightforward investments.
As with London professionals, the appeal is often long leases, concierge service, gyms and, above all, security.
If an apartment is to remain empty for long spells, the privacy – even anonymity – and security that an on-duty porter and high-rise living offers is vital.
And if there’s somewhere safe to leave the car underground, that clinches it.
The only real disadvantage is that new-build is difficult to expand or alter, while period properties have more options for change. But that’s not usually a worry for an apartment owner.
“While there is demand for new-build property, the traditional style of home continues to be very popular in this area,” confirmed Dominic.
Picture: The swish new blocks opposite Olympia at 375 Kensington High Street