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Home Press releasesProperty marketLondon’s most iconic brandmarks command price premium of 142%

London’s most iconic brandmarks command price premium of 142%

londons most iconic brandmarks

The latest research by London lettings and estate agent, Benham and Reeves, reveals that homes surrounding some of London best known brandmarks currently command a price premium of 142% over each of their respective borough-wide averages.

Benham and Reeves has analysed the price per square foot for property in the postcode areas that are home to 15 of London’s most famous brandmarks to calculate what price premium they command compared to wider average prices across their respective boroughs.

Across 15 of London’s most well-known brandmarks, the average property price per square foot is £1,583. This is £929 more than the average price across the various wider boroughs which means the London brandmark price premium is 142%.

Iconic Quaglino’s restaurant is located in the SW1Y postcode district within which the average price of property is £2,581 per square foot.

This is £1,363 more expensive than prices in the wider Westminster borough, giving Quaglino’s a brandmark premium of 111.9%.

London is famed for its luxury hotels, and three of them – Claridge’s, The Dorchester, and The Connaught – are all found in Westminster’s W1K postcode district.

Here, the average price of property is £2,407 per square foot compared to a wider Westminster borough average of £1,218. This gives all three hotels an impressive brandmark premium of £1,189, or 97.6%.

The Ned hotel and member’s club is located in the City of London’s EC2 district. Here, property costs £1,412 per square foot which is £605 more expensive than the wider borough average, giving this particular swanky joint a price premium of 75%.

Despite the terrible reviews for the famed chef’s London restaurant, Nusr-et steakhouse in Westminster’s SW1X still benefits from an impressive property price premium of 72.2% thanks to its desirable location.

Elsewhere, other London brandmarks to boast significant price premiums include Harrods (56.4%), Liberty (46%), Sky Garden (27.3%), White’s (25.4%), and The Shard (16.4%).

Director of Benham and Reeves, Marc von Grundherr, commented:

“Central London has one of the most desirable property markets in the world. It is steeped in such historical and cultural significance that its architecture has become globally iconic.

That’s why luxury brands are clamouring to position themselves in this part of town. By placing luxury branding on buildings of incredible majesty, tourists and locals alike cannot help but look up in awe, or snap photos for the memory box.

But it’s not always the case that these brands have searched out London’s most expensive postcode districts to set up shop. In some cases, the postcodes have become valuable in part because they’re home to such iconic brands.”

Table shows the average property price (per sq ft) in postcode districts that are home to iconic brandmarks, and the difference compared to prices in each respective wider borough
London brand-marks Borough Borough – outcode average price £ per sq ft Postcode district (used) Postcode district – average price £ per sq ft Difference £ (borough vs brandmark postcode district £ per sq ft) Difference % (borough vs brandmark postcode district )
Quaglino’s Westminster £1,218 SW1Y £2,581 £1,363 111.9%
Claridge’s / The Dorchester / The Connaught Westminster £1,218 W1K £2,407 £1,189 97.6%
The Ned / Ned’s Club City of London £807 EC2 £1,412 £605 75.0%
Nusr-et steakhouse Westminster £1,218 SW1X £2,098 £880 72.2%
Harrods Kensington and Chelsea £1,341 SW1X £2,098 £757 56.4%
Bvlgari Hotel Westminster £1,218 SW7 £1,832 £614 50.4%
Liberty Westminster £1,218 W1B £1,778 £560 46.0%
Annabel’s / Hakkasan Mayfair / 5 Hertford Street
Westminster £1,218 W1J £1,681 £463 38.0%
South Kensington Club Kensington and Chelsea £1,341 SW7 £1,832 £491 36.6%
Sky Garden City of London £807 EC3 £1,027 £220 27.3%
White’s Westminster £1,218 SW1A £1,528 £310 25.4%
Kensington Roof Gardens Kensington and Chelsea £1,341 W8 £1,602 £261 19.4%
The Shard Southwark £701 SE1 £816 £115 16.4%
The Ivy / The Savoy Westminster £1,218 WC2 £1,334 £116 9.5%
Hurlingham Club Hammersmith and Fulham £904 SW6 £926 £22 2.4%
London (outcode average overall) £654 £1,583 £929 142.0%

Property price data sourced from PropertyData and LonRes


About the Author

Established in 1958, Benham and Reeves is one of London’s oldest, independently owned property lettings and sales agents. With specialism in residential sales, corporate lettings and property management in prime areas of London, the company operates from 21 prominently located branches and 14 international offices.