Hot Property Trend: Hotel Branded Residences
It’s always interesting to keep an eye on the latest property trends in London and elsewhere, and it seems that there’s growing interest among developers to collaborate with hotels to create luxury hotel branded residences - with experts predicting that 2021 is set to be a record year in this regard.
According to Savills’ Branded Residences Spotlight report from last year, the last ten years has seen such developments and partnerships increase by 170 per cent, with 100 new schemes expected to open this year around the world, Luxury London reports.
One such example is Twenty Grosvenor Square, the Four Seasons’ first standalone private residence, which launched in London in 2019. Although there is no hotel directly attached to the property, all residents have exclusive access to a Four Seasons team, which provides grocery shopping, valet keeping, housekeeping and other such services.
In 2021, the capital will see the completion of The Residences at Mandarin Oriental Mayfair, Mayfair Park Residences (managed by the Dorchester Collection) while 2022 will see the Belgravia-based The Peninsula completed as well, home to 26 residences designed by Peter Marino Architects. In 2024, Rosewood is expected to complete 30 Grosvenor Square, a mix of hotel facilities with residences.
What is the appeal of these residences? They offer the charm, service and amenities one would expect from a six star hotel, but is still a private space that feels like home and can be returned to time and again. Plus they are located in Prime locations (Mayfair & Belgravia), close to all the best restaurants and shopping. It is the perfect balance that makes branded residences so special, and which is ultimately driving demand and growth in the sector.”
Branded residences offer many benefits where luxury property is concerned. Owners can take advantage of superior services and amenities, quality fitouts, confidence to lock up the property and leave for extended periods of time, professional management, investment potential and income returns through rental schemes, and so on.
Given they way they have been selling, it is clear there is demand for the concept.
Trying to decide which one could be the best for you? As London property consultants we have been to see all of them and could advise. Get in touch for a consultation.