SIR RICHARD BRANSON reaches for the skies - Mayfair Times

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58 59 property TV PRESENTER ALISON CORK KNOWS A THING OR TWO ABOUT BARGAIN-HUNTING. SHE REVEALS HER SECRETS TO NUALA CALVI Alison Cork is a woman with a mission: to find luxury for less. That’s the strapline of the journalist and TV presenter’s website www.homesandbargains.co.uk, which has turned her obsession with bargain-hunting into a business. And her view is that, with the cost of living soaring and gloomy economic forecasts, we need our bargains more than ever. “People don’t want to forgo that designer leather sofa when they’re feeling a bit more strapped for cash – they just don’t want to pay as much for it,” she says confidently, from her Mayfair HQ. “We’re all sitting on our properties at the moment rather than selling them, so we want to be jazzing up our homes to add value.” And Alison’s is an opinion worth listening to. From educating the nation’s homemakers with programmes such as The Christmas Show, Domestic Magic, Countdown to Christmas and Home In The Country (the latter captivated 32 per cent of the daytime TV audience with its idyllic visions of Alison baking at her house in Wales) to her weekly property columns in the Daily Telegraph and Evening Standard, she has dedicated her life to making our homes that little bit more sparkly. “Where I come in is as a nosy journalist. I believe that for years we’ve been paying too much in the UK for things like kitchens and bathrooms, and if you know where to go, you can find them for 70 per cent less than on the high street.” So what’s the secret? “It’s about finding people who know about sourcing from lower-cost places like China, who know about buying in volume and who don’t have crippling high street overheads,” she explains. “They might be out-of-town outlets, online suppliers – or even outlets in central London in what people think of as ‘bad’ areas so they don’t go to them. People simply don’t know about these places and they need to be educated.” A quick look at Alison’s website reveals, for example, a warehouse in Wimbledon where furniture from major brands such as House of Fraser and Next is on offer for at least 50 per cent less than its catalogue price. Another section of the site is dedicated to tracking where sales are happening, fuelled by a team of researchers whose job it is to keep on the look-out for hot new offers. “It’s about keeping one’s ear to the ground and being first to know when a closing-down sale or big promotion is about to start,” says Alison. “We’ve got a database of thousands of contacts, so we know what’s going on before it happens, and we like it that way.” Getting the best for less American Fan Company “Rumour has it that this summer could turn out to be a scorcher – and to keep you cool at night, why not invest in a stylish ceiling fan from the American Fan Company? They’re environmentally friendly, use the same amount of electricity as a 100-watt light bulb, and are a cost-effective alternative to installing air conditioning. Prices begin at a very reasonable £119.” www.americanfan.co.uk Fantastic Furniture “If you’re looking to while away those long summer evenings in the garden, the rattan patio set from Fantastic Furniture could be your perfect companion. The set comprises two chairs with cushions, and a tempered glass-topped table. Made from a weatherproof replica material called ‘pe’, it has all the looks of original wooden weave. Usually costing £295, the set is currently available online at the discounted price of £145.” www.fantasticfurniture.co.uk Trade Secrets Alison’s tips for bargain-hunters “Trade Secret’s ‘secret’ is to sell furniture from high street stores such as M&S, Laura Ashley and House of Fraser for half the catalogue price. A new store has recently opened in south-east London offering all of these fantastic savings. This place won’t remain a secret for long.” www.trade-secret.co.uk Grays Antique Market “With more than 200 dealers, this indoor antiques market offers plenty for connoisseurs and bargain-hunters alike – if you know where to look. Dealer Gordon Grahame sells antique wall art as cheap as you’d find anywhere. The front cover of a collectible music sheet for The Gaby Glide dance featuring Gaby Deslys is only £8. For small trinkets and display items, head over to Ethel and Kathleen’s stall to pick up a ruby red vase for just £20.” Grays Antique Market, 38 Davies Street, W1K 5AB West One Bathrooms “In a market where the word ‘luxury’ is bandied around all too often, it’s surprising how many bathroom retailers fall short of the mark. West One Bathrooms offers genuinely jaw-dropping luxury, as anyone who has pressed their noses up against the windows of its South Audley Street showroom would testify. However, the flagship store doesn’t give away the fact that a range of clearance items is available in its Battersea branch (41 Queenstown Road) at up to 50 per cent off the normal price. At the time of writing, this Huppe Magna 5000 luxury corner shower enclosure had been reduced from £5,882 to £3,529.” www.westonebathrooms.co.uk
60 property IN A GLOOMY HOUSING MARKET, ONE SECTOR IS MORE THAN HOLDING ITS OWN. NUALA CALVI REPORTS UK house prices in April and May may have experienced their biggest monthly fall since records began but at the top end of the market – the super-prime sector – it’s a different story. Research by estate agency Savills shows that, while prime central London property values fell by -1.5 per cent in the first quarter of 2008, there was a 1.7 per cent increase in average values among properties over £5 million. And, while in the first four months of 2007, 32 per cent of £5 million-plus properties were going for more than £2,000 per square foot, this had increased to 50 per cent at the start of 2008. That’s good news for Mayfair – one of the areas with the highest proportion of super-prime properties in London. And, according to local estate agents, it’s international demand that is fuelling the market. “The super rich end of the market is bucking the trend,” says Alastair Mercer, director of Mercer Pasqua. “You’re dealing with the Russians and the rich Indians here, and if they see the right property they’ll pay the money for it. We’ve seen some really good activity for houses at £15 million-plus.” Liam Bailey, head of research at Knight Frank, agrees. “The top of the market is slightly immune. We’ve done at least double the number of sales of £10 million-plus properties in the last three months compared to the same time last year. “Buyers are down 40 per cent generally compared to a year ago in central London but at the top end the reverse is true – there are twice as many people looking.” However, while super-prime prices may still be rising, growth is slowing. Annual growth stands at 15 per cent, down from 50 per cent at the same time last year, according to Savills. “If you compare the rate of growth in the super-prime sector to this time last year it has slowed down,” says Savills’ Brian D’Arcy Clark. “We delude ourselves if we think any section of the market is unaffected by what’s happening elsewhere. Foreign money won’t hold the top end of the market forever. It is inevitable that the upper end of the market will at some stage lose momentum and prices could start to drop there as well.” Nevertheless, for now estate agent Wetherell is reporting a “surge” of business for super-prime. In the first four months of 2008, there were five sales of Mayfair mansions at record prices with total sales of nearly £120 million. Many of these were former offices that had been reverted to residential buildings. They include a period house on Park Street, by the Grosvenor House Hotel, which has been turned back to View from the top residential from offices, going for £11.5 million (nearly £1,500 per square foot). On South Street, a house sold in 1993 for £5.4 million or £238 per square foot has just sold, unmodernised, for nearly £2,000 per square foot. On Mount Row, a tear-down property with planning permission for a new 10,500ft house sold for £15 million – nearly £1,500 per square foot. Part of the uplift, according to Savills, is due to the emergence of certain very high-specification developments such as One Hyde Park, which have raised the bar on luxury living. The complex, next to the Mandarin Oriental, contains 86 flats, said to be going for an average £20 million each. And the divergence in prices looks set to continue and widen: while a -10 per cent fall in prime central London property values is predicted during 2008, the super-prime market is forecast to grow by 3 per cent. “The economic uncertainties have increased the demand for prime property,” says Peter Wetherell, director of Wetherell. “It might be expensive but it is a tangible asset.” TOP OF PAGE: HIGH-SPEC DEVELOPMENT AT ONE HYDE PARK ABOVE: TURNING OFFICES BACK TO RESIDENTIAL IN PARK STREET
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Page 4 and 5: 6 news Debut for designer wine A mo
Page 6 and 7: 10 news JAMES BROWN HEADLINED THE S
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Page 10 and 11: 18 theatre LAURA (NAOMI FREDERICK)
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Page 16 and 17: 30 food & drink Urban chic NAPKET H
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Page 20 and 21: 38 Instant glamour Gilt trip 39 Pea
Page 22 and 23: mayfair PA is a new magazine for PA
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SIR RICHARD BRANSON reaches for the skies - Mayfair Times

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