Upscale destinations for downsizers
AS THE market continues to stabilise and increased certainty restores confidence in purchasers, Glentree has seen a steep demand for houses with a particular emphasis on outside space and gardens. While the downsizers are selling their houses to families who are upsizing, the apartment market and the new homes team at Glentree will be tasked with finding suitable apartments with sufficient outside space, parking, a concierge and a good level of specification for these buyers.
Glentree finds that the most buoyant market is £1.5 million to £2 million. Having sold their primary residence and released some capital perhaps for living or for giving, home-hunters are then looking to spend around this level for a spacious, lateral and high quality apartment.
Glentree is offering the last few apartments at Four5Two Finchley Road, NW11, from £950,000 — these are overlooking a park on Hermitage Lane — and also at Rosary Manor, a development with views across the Mill Hill conservation area, priced from £1.7 million.
It has a few resale properties in the neighbourhood of Four5Two: Hampstead Reach, NW11 at £1,695,000; The Lexington from £900,000, West Heath Place from £900,000 and 58 West Heath Drive, NW11 at £2,675,000.
Glentree also has luxury apartments on The Bishops Avenue, at
Crossways, N2 (£2.25 million to £3.25 million), 49 The Bishops Avenue (£3.795 million) and Eliot House (from £4.95 million) as well as a prestigious apartment at Summit Lodge, Hampstead NW3 at £4.25 million, overlooking Whitestone Pond and close to Hampstead Village.
In addition, there are some new-build developments in the pipeline from Glentree.
These include luxury later-living homes in Hampstead and other properties for starter homes or investment, as well as one- and twobedroom
apartments in Hampstead and in Temple Fortune with the opportunity to purchase off-plan.
“Another approach we are seeing with the downsizer market is that they may not decide to immediately purchase their next home but instead they find a longer-term rental solution which enables them to do their appropriate estate planning, invest their capital elsewhere and use that towards their rentals outgoings,” says Lauren Abrahmsohn at Glentree.
“Higher taxes and stamp duties can be prohibitive to making large home purchases at later stages in some of these applicants’ lives,” she says, “so they instead look for higher quality and longer-term rentals which is a very active and consistent market.”
The most buoyant market is 1.5 million to 2 million’