Avenue Road, London

Avenue Road is a street in the Swiss Cottage and St John's Wood districts of London known for having some of the highest home property prices in the United Kingdom.[2] The street is popular with buyers who have torn down older houses and replaced them with larger new homes.[3]

Avenue Road
Avenue Road, Swiss Cottage.jpg
Map of Avenue Road (diagonal)
OwnerLondon Borough of Camden
Length1,536 m[1] (5,039 ft)
LocationLondon, England
Postal codeNW1, NW3, NW8
Coordinates51°32′19″N 0°10′10″W / 51.538555°N 0.169376°W / 51.538555; -0.169376Coordinates: 51°32′19″N 0°10′10″W / 51.538555°N 0.169376°W / 51.538555; -0.169376

LocationEdit

Avenue Road is on the A41 and B525, and runs roughly from Swiss Cottage tube station in the northwest to Regent's Park Outer Circle in the southeast.

HistoryEdit

 
47 Avenue Road, 30,000 sq. ft. Residence

Development of the Hampstead portion of Eyre Estate (known today as St. John's Wood) began in 1802 and was led by architect John Shaw Sr. In 1826, after the Finchley Road Act of 1826 passed, development of a new road that would head northward into the Hampstead portion of Eyre Estate's land and were built by 1829. By 1842, several houses called Regent's Villas were built in the Hampstead section of Avenue Road, and by 1852, 33 houses had been built.

By the late 18th century, the street had become home to some of the era's most famous London artists and writers, including James McNeill Whistler and John Singer Sargent.[4]

In the late 2010s and early 2020s, Avenue Road saw a flurry of high-net-worth buyers who purchased houses for the opportunity to replace them with brand-new mega mansions.[5]

Property pricesEdit

The road mainly comprises of large detached freehold “villa style properties” and is a key thoroughfare into central London, leading into Regent's Park and is widely considered to be one of London's most desirable residential destinations.[6] A 2020 survey completed by Lloyds Bank declared Avenue Road as one of the most expensive residential streets in the world and the most expensive in London. As of early 2021, current sale prices averaged over £30.5 million.

In 2015, an 11-bedroom mansion became at the time, one of Britain's most expensive properties ever after selling for £40 million.[citation needed] The mansion was initially listed for £65 million but failed to find a buyer at that price point.[citation needed]

In 2017, a house owned by the late property developer Harry Hyams and designed in 1954 by the architect Richard Seifert was listed for sale at £16 million, with the expectation that the new owner would replace it with a larger house.[7]

In 2019, a vast double-plot of approximately one acre sold for about £40.5 million with planning permission for a new 36,000 square foot mega-mansion, which would make it one of London’s largest private homes.

In 2020, a 15,000 square-foot plot of land housing a 6,000 square-foot mansion were put on the market with plans to develop a £40 million malibu-style home.[citation needed] As of early 2021, there are believed to be 12 mansions under construction on the street with a total value of £500 million.[8]

In 2021, a 27,000 square foot mansion was put on the market at £75 million.[9]

BuildingsEdit

At the north end is the grade II listed block of flats and shops known as Regency Lodge (1937-38, Robert Atkinson and A.F.B. Anderson)[10] and the grade II and architecturally notable Swiss Cottage Central Library, designed by Sir Basil Spence and completed in 1964.[11]

At the south end is number 25, a detached villa built around 1830–40 on the Portland Estate that is also grade II listed.[12]

ReferencesEdit

  1. ^ Caldwell, David. "What you need to know about Avenue Road in the Urban Area of Hampstead". StreetList. Retrieved 8 November 2020.
  2. ^ Scott, Ellen (19 December 2020). "How much it costs to buy a house on the most expensive streets in England and Wa". Metro.
  3. ^ Cox, Hugo (30 May 2019). "Why house prices in St John's Wood are bucking the central London trend". The Financial Times.
  4. ^ Ivey, Prudence (19 December 2020). "London's most expensive street revealed with average price of £30m". www.standard.co.uk.
  5. ^ "£500m mansion building boom on London's Avenue Road". London Property News | londonlovesproperty.com. 7 March 2019.
  6. ^ Hunt, Marianna (19 December 2020). "The price to live on Britain's most expensive street? £30.5m". The Telegraph. Retrieved 1 March 2021.
  7. ^ Murdock, Meghann (9 October 2017). "A project fit for a property tycoon: 1950s mansion designed by Centre Point architect for sale — with potential to add £20m to its value". Evening Standard. Retrieved 13 February 2020. CS1 maint: discouraged parameter (link)
  8. ^ Prynn, Jonathan (3 July 2020). "St John's Wood plot for sale with consent for a Malibu-style mansion". www.standard.co.uk.
  9. ^ Prynn, Ben Morgan, Jonathan (12 February 2020). "Inside London's 'record-breaking' mega-mansion for sale for £75 million". www.standard.co.uk. Retrieved 23 March 2021.
  10. ^ Historic England. "Regency Lodge (1413897)". National Heritage List for England. Retrieved 19 February 2020.
  11. ^ Historic England. "Swiss Cottage Central Library (1272259)". National Heritage List for England. Retrieved 19 February 2020.
  12. ^ Historic England. "25, Avenue Road NW8 (1217828)". National Heritage List for England. Retrieved 19 February 2020.

External linksEdit