The capital’s garden squares are coming back into vogue with prime central London (PCL) property purchasers, according to Guy Passey, director at CBRE UK.
Projects such as Oakmayne Bespoke’s 10 Soho Square (pictured) are a sign of the recent revival in residential interest in garden square properties. A 2015 report looking at 64 London garden squares found that properties commanded a 25 per cent price premium over their non-garden square neighbours with an average value of GBP5 million.
"London squares are seeing a residential revival; many were created originally for residential purpose, before being converted to commercial use. We have recently seen this process reversed to create extremely rare and high end residential addresses,” says Passey. “The idea of a PCL address that is coupled with green views and sense of a community and which feels away from busy roads and noise has allowed premium values to be achieved.”
10 Soho Square occupies the former residence of the Duke of Portland, a grade-II listed stone and brick townhouse which was converted to office use in the post-war period. Oakmayne Bespoke has now restored the property and returned it to residential use in the form of a selection of two and three bed apartments, along with a three bedroom duplex penthouse, with prices starting from GBP2.5 million.
