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Sunday, May 11, 2025

Luxury apartments in London's Knightsbridge Estate spark concern over affordable housing and gentrification

Luxury apartments in London's Knightsbridge Estate spark concern over affordable housing and gentrification

The Knightsbridge Estate in London has launched a collection of ultra-luxury apartments for rent, with prices starting at £1,250 per week.
The development aims to attract two-year tenants and is billing itself as London's first "super-prime residences for rent." However, this luxury development is located in an area where there is a high demand for affordable housing, and there are thousands of people on the waiting list for council housing in the borough.

The ghost town reputation of central London is a concern, as it is seen as being hollowed out by the rise of super luxury properties and branded residences, which are accused of ripping the soul out of the city and deterring shoppers and revellers.

Efforts by estate owners and councils to overhaul central London may be too little too late, given the cost-of-living crisis and the efforts of Prince William to build much-needed housing on royal land.

In addition, new homes in Belgravia are being built, with prices starting from £700,000, and the redevelopment of Chelsea Barracks includes townhouses priced from £38 million to £60 million.

Ebury Bridge Road will see 780 properties built, including 370 council homes, with half of all homes classed as affordable.

There is a concern that the rise of super-luxury properties may lead to the loss of key workers who are unable to live near where they work.

The article discusses the housing situation in London, specifically in the Prime Central London (PCL) area.

The supply of affordable housing for key workers in inner London is limited, with intermediate rent being one option.

The Westminster Home Ownership Accelerator Scheme is helping low-income individuals become homeowners.

However, there are concerns that an increase in overseas buyers will lead to an increase in empty homes.

Councils, including Westminster and Kensington and Chelsea, are cracking down on empty homes by imposing council tax premiums on properties empty for more than six months.

Energy efficiency and air pollution are also being addressed by landowners and councils in PCL, with efforts to increase urban greening, such as adding green roofs and reducing corporate events on green spaces.

Additionally, new developments in PCL, such as Ebury Bridge Road and Cundy Street Quarter, are being designed with sustainability in mind, using renewable energy and creating green spaces.

Young people are most productive when working in clusters and acquiring tacit skills and a social network.

The offering on the high street must then suit their pocket, fitting into an ecology of working, living, shopping, and going out.

Placemaking adviser Patricia Brown calls for "authentic not instagrammable" high streets and for large-scale placemaking to be avoided.

Westminster council has ringfenced £10 million to upgrade "neglected" streets on the outskirts of PCL.

Knightsbridge Estates and TfL have improved the exit to Knightsbridge Tube and widened the pavements to attract more shoppers.

Street furniture is meaningless without the right mix and activation on the high street.

Pavilion Road in Chelsea is a "dead mews" turned into a vibrant high street with a hyperlocal cheesemonger, convenience store, ice cream kiosk, and Ottolenghi Chelsea.

Marylebone has reinvented itself as a "trailblazer" with a mix of businesses that has attracted buyers and tenants over trophy areas.

The revival of Marylebone High Street started with the Conran Shop and the farmer's market, and new independent small brands are being helped to get off the ground.

There is a strong sense of community in Marylebone, and new homes classed as affordable or reasonably priced can be built if led by the Government and councils.

The article features Rachel Vosper, who runs a candle shop (RachelVosper.com) and provides bespoke arrangements for events and private clients.

She also offers a refill service for customers to bring their own vessels or old candle holders.

Vosper manages to stay in Belgravia due to her landlady's support and the community's sociability.

The Wilton Arms is considered the heart of the community.
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