Setting the scene
No longer somewhere to simply pass through, Victoria has morphed into a desirable destination in which to live, shop and socialise. £4billion of ongoing investment has seen top-end apartment buildings spring up, new restaurants, stores and other amenities open their doors, and the station -London’s second busiest — is being modernised. ‘Over ten years ago if you were heading to Victoria, it was likely to be for a transport connection or meeting government officials in one of their many offices. Today, it is an energetic hub for after-work drinks, fitness classes and world-class restaurants, seven days a week,’ says David Smith of CBRE.
Much of Victoria’s redevelopment is focused on transforming redundant buildings into luxury homes. ‘Over 3,000 residential units are being delivered between 2013 and 2022, with more than 81 per cent borne from office buildings,’ explains Oliver Gibson of JLL. One of the highest-profile schemes is The Broadway, by Northacre and ADFG, with 258 apartments in six towers, on the former New Scotland Yard site. From £1.56m, through jll.co.uk.
Another is Westminster Fire Station, a development of 17 apartments plus a restaurant. Six homes in the original Edwardian building and the remainder are brand new, from £850,000, westminster firestation.com.
At 33 Greycoat Street, there are 23 apartments over seven floors, from £850,000 for a one-bed to £4.77m for a three-bed duplex penthouse, savills.co.uk. VI Castle Lane is 31 homes in a conservation area scheme. Eight apartments remain from £1.14m and three townhouses launch soon, from £2.5m via savills.co.uk and knightfrank.co.uk.
The area offers traditional mansion blocks and new builds, white stucco-fronted houses and Queen Anne terraces. ‘On average, prices in Victoria are currently coming in at around £1,200-£1,500 per sq ft,’ says Sara Lowry of Chestertons. ‘Many of our buyers purchase a pied-a-terre here, but have homes outside the capital. We also see first-time buyers and families.’ Harry Buchanan of Jackson-Stops, says: ‘Over the last six months, we have seen a notable increase in parents buying property for their children and becoming temporary landlords while waiting for them to graduate from university. Two and three-bedroom mansion apartments are particularly in demand with this demographic.’
Council tax: (Band D) £710.50
Commuting time: In Zone 1
Annual Travelcard: £1,404
Amenities: ★★★★☆ Shops on Victoria Street and in Cardinal Place; Strutton Ground market; Cardinal Place weekly food market; 20+ eateries in Nova Food; street food and bars in the recently opened Market Hall Victoria; Curzon Cinema; Apollo Victoria and Victoria Palace theatres; Andrew Lloyd Webber’s The Other Palace for musical theatre
Open space: ★★★☆☆ St James’s Park; Ebury Square; Upper and Lower Grosvenor Gardens
Schools: ★★★★☆ GCSE and A-level results above average; all local primaries good or outstanding; many independents
Crime: ★★☆☆☆ Above average
Who lives there? High-earning young professionals and families
Famous faces: Sting and wife Trudie Styler used to own a listed townhouse in Queen Anne’s Gate
Rent report: ‘Typically, we have a lot of corporate and relocation tenants in their mid to late-30s. New developments and refurbished period properties are sought after and, on average, a two-bed is around £450-£600 per week,’ says Georgie Woodhouse of Marsh & Parsons
£450,000 Marsh & Parsons
A one-bedroom flat on the first floor of a handsome red-brick mansion block. The property includes a dual-aspect living room and separate kitchen and is only a few minutes’ walk from the station.
Average for Victoria
£1.25million Carter Jonas
This first-floor flat has been cleverly designed with a large open-plan kitchen/living room at the front and two double bedrooms, plus two bathrooms at the back, where it’s quiet. (The average property in Victoria is currently valued at £1,338,753 according to Zoopla)
£6.45million Strutt & Parker
Converted just ten years ago, this huge lateral apartment has a reception room with a five metre-high ceiling and rotating walls, two bedrooms, two studies, a media room and a mezzanine floor.