Beauchamp Estate lettings department agreed £12.2 million worth of super-prime lettings deals for landlord clients over the first six months of 2024 including a mansion in St John’s Wood let for 2 years for over £4.5 million, a large house in Hampstead let for £1 million per year an apartment in a new apartment building in Bayswater let for almost £0.5 million on a 12-month tenancy.
A Notting Hill house let for £45,000 per week for six months, a palatial home in Princes Gate let for £25,000 per week and two apartments let in the private residences wing of the famous five-star Corinthia Hotel in Whitehall (main picture), at values of £7,500 to £9,000 per week. This buoyant trend continues to bloom with over a £1,000,000 worth of rent already agreed in July 2024.
Gary Hersham, Founding Director of Beauchamp Estates, says: “The super-prime lettings market in Prime Central London has been extremely buoyant during the first six months of 2024.
“There have been some extremely high quality stock available on the lettings market and this has attracted serious tenants willing to pay premium rents to secure the properties.
“There has been a rise in wealthy American, Western European and Nigerian tenants coming to London on business secondments. The market has also been boosted by the uncertainty generated by the UK General Election which has led some people looking to buy to decide to pause and rent instead until they have certainty about the new Labour Government’s taxation policies, awaiting the 30th October Autumn Budget.”
Princess Gate Grand Reception Room: £25000 per weekChris Tinkler, Lettings Manager at Beauchamp Estates (Mayfair), adds: “The most sought after addresses in London with wealthy tenants at present are Chelsea, Kensington, Mayfair, Belgravia, Whitehall, Bayswater and Notting Hill.
“Over the past six months Beauchamp Estates has secured super-prime lettings deals which have generated combined annual rental income of over £12 million, with tenants from America, the Middle East, India, Nigeria and Western Europe.
“We have found serviced apartment buildings providing 5-star hotel style amenities and large houses set in generous gardens have been favoured by discerning tenants who are will to pay premium rents for these type of properties. Whitehall, Marylebone and St James’s have also become sought-after luxury lettings destination, with apartments securing tenants from the USA, India and Europe.
“In St John’s Wood and Regent’s Park houses and apartments have attracting families and couples from India, Nigeria and the Middle East.”
