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East Belgravia is new hotspot in Prime London, says report

East Belgravia, an enclave of property between Upper Belgrave Street and Grosvenor Place, is currently undervalued compared to neighbouring addresses and is undergoing a development boom with £1.36bn of new luxury hotels and homes in the construction pipeline, according to a new East Belgravia Report, published by Beauchamp Estates.

With analysis by Dataloft, the report reviewed residential property sales from 2015-2019 and compared the Belgravia property market with other surrounding districts in Prime London, using data from LonRes, the Land Registry and Beauchamp Estates.

The report found that Belgravia is 200 acres in size, significantly larger than neighbouring Mayfair (100 acres) and Knightsbridge (50 acres), yet has had far less new development.  

The report reveals that the entry threshold for prime property (top 10% of instructions) in East Belgravia is £5.4m, compared to £8.2m in Mayfair, £12m in Knightsbridge and £5.8m in Chelsea.

The report observes that because East Belgravia is cheaper, relative to neighbouring addresses, there is currently £1.36bn of luxury development in the pipeline.

Jeremy Gee, Managing Director at Beauchamp Estates said: “Wherever supply is constrained compared to demand it helps to sustain capital values and this is why Belgravia property values have outperformed the rest of PCL. Over the last two years the average sales price in Belgravia is £4.96m, compared to £2.37m for PCL overall.”

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