Super-Prime Market View 2016 – Part Four
February 4, 2016|Super Prime Property
- n the final part of the Super-Prime Market View series, I look at the changing requirements of ultra high net worth individuals; the role of bespoke design, increase investment in communal areas and why delivering thoughtful luxury is an essential part of our design process. Delivering Super-Prime Design In today's market, the quality of the end product is becoming more important than the most exclusive golden postcode with property space, design, layout, security and amenities all key requirements for super-prime buyers.
Actual volume of space is more important than just square footage with high ceilings and lots of light being key sought after features. However, ultimately buyers are looking for well thought-out homes and an exceptional level of detail. From bespoke headboards and rugs through to hidden cellars and garages to house investments of passion, we design every single detail in our clients’ homes. This is probably the biggest trend at the top end of the market at the moment – completely unique features and design that is delivered to an impeccable standard. Clients notice if the attention to detail is not there. Yet despite their sophisticated requirements, buyers are more price-sensitive and well advised than ever before. They won’t pay over the odds for a property, unless the product is truly exceptional.
Security and privacy are a top priority for our globally mobile clients; and whilst panic rooms come as standard (although it isn’t ever discussed for obvious reasons), there is a growing trend for bullet, blast and bomb proof windows and doors. This is particularly important when a property is exposed or in a high profile central location.
Hidden luxury is also a key requirement. We use artisans to create unique pieces, adding detailing such as bronze inlays to doors, carefully selecting ironmongery and design bespoke cabinetry with hidden technology.
For apartments, communal areas used to be where costs were cut, but now we are seeing increased investment in materials and finishes. For Beau House, we have spent the same amount per square foot as we have done in the penthouse, with stunning marble flooring, statement lighting and a bespoke concierge desk and panelling. The first impression is crucial; buyers see every single detail and they notice when it’s not there. For ultra high net worth individuals, it’s all about the experience they get when they walk into a property. This is why we take a multisensory approach to design, ensuring all elements come together to deliver an exceptional home.
A super-prime property can no longer defined as being a townhouse or converted apartment in a period building; it can also be a new build with amazing contemporary architecture. Whilst historic properties are attractive due to their character, new builds can be designed exactly to a buyer’s needs with double and even triple height ceilings, lots of light and modern amenities built-in from the start, such as spa areas. Yet despite the different property types available, penthouses are still the ultimate trophy assets. We design numerous penthouses and they are always a step change from the rest of the apartments in the building. Buyers also still want a quintessentially British feel to their property, especially if it’s a historic building.
At Oliver Burns, irrespective of trends and changes in the market, we always stay true to what the client wants. We then design according to their needs and deliver all our projects with a thoughtful luxury approach built-in. This is why every project we deliver is thoughtfully designed, thoughtfully built and thoughtfully finished. This is ultimately what transforms a home from ordinary to extraordinary, and what helps London hold on to its status as the most desirable capital city in the world, and we don’t expect this to change in the immediate future.
Written by JB
Super-Prime Property Market View 2016 - Part Three
Super-Prime Property Market View 2016 - Part Two
Super-Prime Property Market View 2016 - Part One