New Kid on the Block
Land Securities is helping to revitalise London’s Victoria district with its Kings Gate luxury residential development
Property buyers and investors alike are rushing to the door as one of the UK’S biggest property developers, Land Securities, recently announced the completion of its Kings Gate luxury development in Victoria.
Of the 100 apartments for sale in the development, only 13 are left—and it’s not hard to see why buyers are rushing to buy these apartments, which are priced at £2,025 per square foot for a three-bedroom apartment and can go up to £10 million for a penthouse.
“To start with, Victoria is the real sell here. The location is in the postcode of SW1, which is unarguably number-one, as its neighbours are Knightsbridge and Belgravia,” says Tom Eshelby, residential director at Land Securities. “Then from a residential perspective, we will be seeing Victoria in a whole new light… from a pretty dreary forgotten suburb, albeit right in the heart of London, transformed and revitalised back into somewhere that people want to go and befits its location.”
What Eshelby speaks of is the way that the developments by Land Securities have been transforming and rebranding the district. Where it once was associated with outdated architecture, 1960s offices, and what he terms “uncool and dull office tenants,” new developments such as Kings Gate and the Nova building have been helping to reshape the district.
Situated alongside the Zig Zag building, Kings Gate will be right in the hub of the new regeneration zone and is the work of renowned architect Patrick Lynch, who has taken inspiration from nearby icons such as Buckingham Palace and the Houses of Parliament.
“It’s a handsome building and a good-looking piece of architecture,” says Eshelby. “Lynch Architects has done a great job of creating something that stands out, and has introduced a kind of quality and variety of architecture that should bring back some character and a feeling of quality to Victoria.”
Land Securities has also launched another proud project in the district—the Nova building, which with more than a million square foot of space has brought a host of new retail and dining concepts to the area, showcasing a number of renowned chefs and restaurateurs such as Jason Atherton, Ross Shonhan (the chef-proprietor of Bone Daddies) and Adam White.
“Nova is the final bit of a huge 10-year regeneration for Victoria,” says Eshelby. With a sizeable offering of sexy retail and food offerings, these developments are going to change the way people see the area, he says—and it also explains why people are rushing to the door to get in on the opportunity.
“It’s going to be a big splash and it’s great for the people who have bought in the building, because their tenants are going to want to live there,” says Eshelby.
flying High The interior of one of the apartments in Kings Gate; the complex had 100 apartments for sale—just 13 are left