Dulux has launched a new partnership as part of its Colour of the Year 2019 initiative. The joint venture with author and broadcaster, Fearne Cotton, is designed to help homeowners embrace colour in their home. The collaboration with the TV personality will also help professional decorators communicate the best use
When architects TP Bennett needed a trusted supplier to deliver their vision for a central London office refurbishment they knew immediately where to look. And it was Armstrong Ceiling Solutions, specifically 150m2 of the manufacturer’s configurable mesh metal K-H 400 MT tile and grid system featuring versatile hook-on planks, that
Eco-friendly homes are all the rage right now, with many consumers attempting to adopt a more sustainable lifestyle long-term. Helping the planet is about more than just recycling and refusing to buy single-use plastics, and those taking it seriously have already started incorporating environmentally conscious practices into their home design
Mineral canopies and metal baffles and tiles feature at the organisation’s new-look HQ. The world’s leading commercial property and real estate services adviser has used a hat-trick of systems from Armstrong Ceiling Solutions to enhance the interiors of its refurbished headquarters. Some 600m2 of Armstrong’s VP-500 custom vertical metal baffles,
Leading British designer and manufacturer of quality fitted furniture, Daval, celebrate the versatile nature of its multi-form furniture which is able to translate from room to room … Envisaged as a key trend for 2019 home interiors, transformative furniture that is systematic and not defined by purpose will become a
Fast-growing office fitout and design company Saracen Interiors has won the contract to transform part of a major office building into co-working space at the heart of Dundee’s £1 billion waterfront regeneration project. Dundee One is a 50,000 sq ft landmark building, where work is due to start on Phase
Mace Interiors has been appointed to deliver Woolwich’s new Creative District, which will see a historic military complex transformed into a major cultural destination. Mace’s fit-out will work alongside architect Bennetts Associates and creative consultancy The Chase and Land Design Studio on the project. Phase one of the project has already
Saracen Interiors is now reaching the end of a substantial fit-out project for Global Technology company Carl Zeiss. The interiors company is transforming c. 43,000 sq. ft. of office space plus undertaking a range of external works at a site in Cambridgeshire to create a world-class lean manufacturing facility, including
FIS, representative body for the £10 billion finishes and interiors sector in the UK, announced the winners of the 2019 Fit-Out Futures Awards which were celebrated at the FIS President’s Lunch in London. Iain Mcilwee, FIS CEO said “the Fit-Out Futures Awards recognise the outstanding contributions and achievements of individuals,
London’s super prime residential real estate more than held its own against the overall Brexit-plagued market last year, according to a report Thursday from Savills. The exclusive portion of the market where properties cost more than £15 million (US$19.5 million) saw transactions soar 43.1% in 2018 compared to 2017, data
Dulux has launched a new partnership as part of its Colour of the Year 2019 initiative. The joint venture with author and broadcaster, Fearne Cotton, is designed to help homeowners embrace colour in their home. The collaboration with the TV personality will also help professional decorators communicate the best use of colour to their customers and encourage homeowners to embrace new, ‘on trend’ shades in their homes. The videos produced with Fearne talk about how to create stylish interiors and will act as a tool for professional painters and decorators to demonstrate how and why the Dulux Colour of the Year, Spiced Honey™️ and the supporting ColourFutures™️ 2019 palettes work so well in the home. “I’m fascinated by the science of colour and the power it has over mood and behaviour. Changing your home – your most personal space – has the power to create positive change in all areas of your life, from creating a space to think to empowering us to act. Spiced Honey™️ is about fostering a sense of positivity with the outside world again. It’s about letting the light in,” commented Fearne. 2019 marks the 16th year of the global ColourFutures™ annual trend forecast from Dulux Trade. An expert panel of colour designers, design specialists, trend forecasters, architects and editors from around the world joined together to capture a universal theme, resulting in a colour that suitably embodies our mood of the moment for the year ahead – leading to Spiced Honey™️ to represent 2019. “Supporting professional decorators is a key priority and we know that their customers are often seeking reassurance before they commit to a new colour in the home,” said Karen Wilkinson, Dulux Trade Marketing Lead. “Fearne Cotton is someone that the homeowner audience can really relate to and we hope that by partnering with her and producing assets for everyone to see and use, we’re making the job that little bit easier for painters and decorators, who pride themselves on giving every customer a brilliant finish.” “It’s not an easy job to convince proud homeowners to trust you to redecorate their most personal spaces, so anything we can do to help our professional decorators to do this is worthwhile. Helping our trades professionals communicate the added benefits of colour in the home will help them build their businesses and stand out from the competition,” Karen added.
When architects TP Bennett needed a trusted supplier to deliver their vision for a central London office refurbishment they knew immediately where to look. And it was Armstrong Ceiling Solutions, specifically 150m2 of the manufacturer’s configurable mesh metal K-H 400 MT tile and grid system featuring versatile hook-on planks, that they specified for areas of the ground floor of 65 Gresham Street. Project director Pragna Shah said: “The product needed to suit an adaptive, flexible and creative design for our work with a client that is an industry disruptor and has a brand message of ‘out of the ordinary’.” And that proved the case from the moment go as the Armstrong systems were originally specified for a dining hall and informal lounge with adjacent booths on one side but by the time it came to installation the dining hall had become open-plan office space. Nevertheless, the jet black (RAL 9005 with 5% gloss) mesh metal tiles from Armstrong, customised with a larger-than-usual 70% open area mesh and installed using a standard crossing box and c-profile suspension system with 75mm trim strips and custom metal bulkheads around the complete perimeter of the space, deliver the industrial aesthetic the architect was looking for, complete with functionality as the exposed services above the ceiling needed to be accessible. Pragna Shah said: “The Armstrong system suited the design intent. The mesh ceiling was complicated in that it needed to meet lots of criteria, such as access and fixed sizes, and we needed a trusted supplier to help us deliver our vision. “It helps to create a more contemporary and industrial aesthetic with the addition of up lighting creating an inviting atmosphere. The client is an exciting organisation and our partnership has delivered a workspace that enables new ways of working and captures the vitality and essence of their brand.” The Armstrong systems were installed over two months by a team of up to 10 from specialist sub-contractor OCP Contracts for fit-out and refurbishment specialists BW: Workplace Experts who required the installation to be defect free at completion. OCP are a member of Armstrong’s Omega network of approved ceiling installers. OCP’s contracts manager Charles Corbyn said: “Due to the complex nature of the bespoke mesh metal ceiling, OCP liaised with Armstrong’s technical department and together ensured we could achieve procurement for the project. ‘With OCP’s team of specialist fixers, it allowed for a straightforward and perfect installation which is versatile and met what the client had specified. OCP were privileged to have been given the opportunity to install the bespoke ceiling system and are excited by the changes within the industry towards more specialist ceiling systems and unique designs.” More information is accessible via the Armstrong Ceilings website https://www.armstrongceilings.com/commercial/en-gb/.
Eco-friendly homes are all the rage right now, with many consumers attempting to adopt a more sustainable lifestyle long-term. Helping the planet is about more than just recycling and refusing to buy single-use plastics, and those taking it seriously have already started incorporating environmentally conscious practices into their home design and buying choices. Here, we discuss several ways in which to make a kitchen more eco-friendly. Responsible shopping habits Purchasing kitchenware and furniture in materials such as wood and stone can prove to be a far more eco-friendly alternative over plastic, and is actually just as robust and long-lasting. Natural materials make a home have a lovely, rustic feel and can work perfectly for flooring, kitchen countertops and furniture. When designing a new kitchen or renovating an existing one, it is important to keep sustainability in mind. Purchasing from a local retailer not only allows you to support the small high street stores, but also means you will be reducing your carbon footprint. There are plenty of independent UK and London kitchens specialists out there, many of which focus on maximising eco-friendliness. Durable furniture Kitting out the home certainly does not come cheap, and many of us will actively purchase low-priced furniture, knowing full well it is not likely to stand the test of time. Unfortunately, this is what is known as a “false economy”, and the cost spent replacing poor quality items throughout the years tends to offset the initial expenditure we could have used to purchase durable, high-quality pieces that last for many years, if not decades. Replacing furniture every few years is simply not sustainable or cost-effective, so be sure to think carefully about the materials, brand and quality you are choosing when buying furniture. Alternatively, there are plenty of second-hand auction sites and car boot sales in which people are selling their unwanted furniture for a small fee (and sometimes completely free!), many of which are still in excellent condition. This helps keep the pieces in rotation for as long as they are fit, preventing them from ending up in a landfill. Energy efficient appliances Appliances with energy efficiency built-in are becoming more and more prevalent, as savvy consumers seek to lower their energy bills and go greener at the same time. There are plenty of models on the market that meet this growing demand, such as cookers with low-heat settings, ECO kettles and energy efficient washing machines. Before making any purchase, simply take a look at the appliance’s energy star rating, which indicates how environmentally-friendly it is. The Energy Saving Trust notes that around £30 per year on average is wasted by households leaving their appliances on standby mode. As such, turning off appliances when not in use helps both the planet and your wallet! Changing our habits Making small, positive changes to the way we live can steadily impact the earth around us. Beyond buying choices, there are several things we can all do to make the home more eco-friendly: Bulk cook and plan ahead to save on food and packaging waste, as well as reducing carbon footprint from travelling to and from the supermarket via car. Use glass containers over plastic, which is much harder to recycle. Purchase from local, independent shops or food markets. Have a separate recycling bin and educate other people living with you on which materials belong in which bins.
Mineral canopies and metal baffles and tiles feature at the organisation’s new-look HQ. The world’s leading commercial property and real estate services adviser has used a hat-trick of systems from Armstrong Ceiling Solutions to enhance the interiors of its refurbished headquarters. Some 600m2 of Armstrong’s VP-500 custom vertical metal baffles, 3,250m2 of Optima L circular and custom-shaped canopies, 150m2 of DH-700 black mesh metal clip-in tiles, and 130m2 of C Profile suspension system were specified for the CBRE’s new-look offices in Milan for their form and function. The design of the offices is inspired by the modern principles of activity-based working, a revolutionary concept that replaces allocated seating layouts with a more flexible approach to the working environment, with the aim of improving productivity through continuous and efficient interaction between employees. For this reason, the new offices in the CBRE headquarters were protagonists of an aesthetic re-design project inspired by the values of innovation, wellness and flexibility, which perfectly mirrors the company’s global strategy, “Workplace 360”. According to the principles of Workplace 360, hierarchical barriers have been completely lifted in favour of sharing, improving accessibility and exchanging ideas. The working environment is completely open with unassigned seats which can be booked daily through users’ smart phones. In addition, specific areas are dedicated to those who need silence and focus as well as relaxation and wellness. Based on this concept, an in-house CBRE team, supported by Efrem Milia, an interior designer with Milan’s EMA Design Studio, has influenced and defined the functional and organisational aspects. This cooperation allowed CBRE to intervene in each decision, both technically and decoratively. The result is an exclusive and carefully refined 2,500m2 venue inspired by the historical areas of Milan – the first floor echoing the Navigli canal area, the second the Brera art district, and lastly, the sixth the fashion district. The decision to leave part of the ceiling with exposed building service elements determined the need to intervene with elements that delivered both aesthetics and acoustics. And this is where the CBRE looked to Armstrong Ceiling Solutions, due to their extensive range of products and their ability to create tailored solutions that satisfy any project’s need. In this case, a different Armstrong solution has been chosen for each floor of the renovation, with each providing an aesthetic solution, capable of integrating itself with the space and the different surrounding materials while creating comfortable working environments. The 3,250m2 of Optima L white mineral canopies, in [tbc]diameter circles and bespoke squares with two rounded corners, contributed to shaping the common areas on the first floor. These elements feature originality and modernity as well as acoustic support. Canopy ceilings combine aesthetics with acoustic performance aimed at ensuring a higher sound absorption ratio compared to a continuous ceiling with the same visible surface. The sound is absorbed both by the front and the back surface of the panel. This significantly contributes to the reduction of reverberation time and increases the intelligibility of speech. For the second-floor offices, Armstrong’s design team conceived a special broken-line pattern for the micro-perforated black mesh metal ceilings. These are ideal for installations in open-plan spaces where it is necessary to reduce noise pollution. A solution that creates an extremely dynamic visual effect, it is available in individual and multiple configurations, thanks to the C Profile suspension system that allows a tidy and clean alignment of the elements. Lastly, on the sixth floor, in addition to the white baffles, C Profiles of different sizes have been used to embellish, through light and shade, the ceiling of the “Multipurpose Room”, a multi-functional room with different space configurations and a huge art wall. Head of project management Alberto Cominelli said: “The office is no longer just a work space. It has actually become a company’s hallmark, where spaces are designed to bring inspiration, exchange ideas and create innovation. Only by creating a comfortable environment equipped with facilities dedicated to the people is it possible to increase engagement and motivate staff. Interior designers are more and more inspired by home and hotel designs, bringing an unprecedented breath of innovation to the world of offices.” Armstrong area sales manager Jordan Brocchi added: “We would like to thank CBRE and architect Efrem Milia for trusting our solutions and involving us, giving value to the potential offered by Armstrong Ceiling Solutions in terms of personalisation. “Now more than ever we are witnessing an increasing number of requests from architects and interior designers for support in the design of highly-customised solutions, to free their creativity in line with the rapidly evolving current trends. The requests are extremely diverse and to best respond to them, Armstrong has boosted its structure with a team of dedicated and highly-qualified engineers.”
Leading British designer and manufacturer of quality fitted furniture, Daval, celebrate the versatile nature of its multi-form furniture which is able to translate from room to room … Envisaged as a key trend for 2019 home interiors, transformative furniture that is systematic and not defined by purpose will become a mainstream proposition for the modern homeowner and will be used to convert redundant space into a well-used, practical area in the home. For example, a mezzanine area with landing space is typically just a ‘walk-through’ which has little to no impact on your home or lifestyle. Rather than waste space, made-to-measure furniture is the ideal solution for turning dead space at the top of your stairs into a multi-functional storage area: that could also be coordinated with your bedroom furniture too! A great example of multi-form furniture that is well-designed and purposeful, is the pictured mezzanine furniture concept by Daval showing Harvard Angled-end Wardrobes with integrated window seat. The full length mirrors naturally extend space assigned for dressing and beautification, typically reserved for the master bedroom or en suite bathroom, and the comfortable window seat provides a new area in the home to relax and unwind. The simple shaker design of Harvard is shown in warming Stone Grey which creates a neutral furniture arrangement for storing surplus garments, shoes, winter bedding or function as a practical play area that discreetly organises your kid’s toys, accessories and extra clothing. If you have the luxury of a large entry area, but unsure how to make it feel less vacant and more welcoming for family and friends then consider a Bootroom with bespoke coat racks, umbrella stands and shelving to store obstruent shoes and bags. The Dove Grey and Charcoal colouring provides the perfect contrast and texture against the Rough-Cut Oak details. Calm and contemporary in style, this hallway concept in Salcombe Furniture is actually featured in the Daval Kitchen Collection: proving that multi-form furniture really can translate across different rooms in the home, all the while linking one space to another through design. Highly practical, multi-form furniture is able to adapt to your environment, home architecture and space, and will be this year’s answer to maximising space and utility in the home. Fitted furniture is helping to change the opportunities for whole-house coordination and Como by Daval is a great option when needing to synchronise your living space alongside your kitchen and/or dining furniture. Creating a dedicated area for housing your TV and other media equipment, this made-to-measure Como sideboard in Gloss Stone has an unrestrictive design aesthetic which bridges the gap between kitchen and living area for a true ‘Multi-form’ furniture design scheme. Daval British fitted Furniture Collections are made-to-order and made-to-measure with prices starting from as a little as £3,000+vat. For further information please contact: Daval Furniture │ t 01484 848500 │ www.daval-furniture.co.uk │ Daval House, Spa Fields Industrial Estate, New Street, Slaithwaite, Huddersfield, HD7 5BB
Fast-growing office fitout and design company Saracen Interiors has won the contract to transform part of a major office building into co-working space at the heart of Dundee’s £1 billion waterfront regeneration project. Dundee One is a 50,000 sq ft landmark building, where work is due to start on Phase One, the fit-out of 8,800 sq ft on the top floor, this month (February) with completion expected in May. Saracen Interiors has been involved in space planning the project for the past six months. The interiors company, which saw a 30 per cent leap in sales in 2018, was approached to space plan the new co-working space for owners Jute Properties. Saracen worked closely with the Jute team and residential interior specialist Salvesen Graham to create high quality thoughtful, design-led co-working and private office space, coupled with stunning views over the River Tay. Michael Page, Director at Saracen Interiors, said: “We are extremely proud to be involved in this huge and inspiring regeneration project for Dundee One. We have been heavily involved both in the space planning and in delivering the overall functionality of the space, and we were delighted to then be appointed to complete this exciting build.” The Grade A office building is a prominent feature on Dundee’s waterfront, whose regeneration has included a new rail station and a V&A Museum, officially opened by the Duke and Duchess of Cambridge in January this year (2019). The transformation of Dundee City Waterfront, which encompasses 240 hectares of development land stretching 8km alongside the River Tay, is a 30-year project that began in 2001. Its vision is to transform the City of Dundee into a world leading waterfront destination for visitors and businesses through the enhancement of its physical, economic and cultural assets. Forward-thinking Jute Properties completed the purchase of the building in February 2018 recognising Dundee’s potential, with plans to create a mix of traditional leased offices and flexible serviced offices, redefining the workplace to create an environment suited to modern working lifestyles and agile business. They are well on their way to achieving their targets with several new high-quality international tenants taking occupation and demand and pre-lets for their co-working space high. Private fixed office spaces for concentrated bursts of work and a series of formal meeting rooms and phone booths sit alongside luxurious social spaces designed for engaging with both colleagues and clients. Beautifully designed breakout areas and a coffee bar, with views over the dramatic waters of the Tay, allow you to step away from your desk, and generate the great ideas which will drive your business forward. Combined, all this adds up to an agile work environment where businesses thrive, and employees can truly feel at home. The owners announced they were responding to growing demand for co-working spaces and serviced offices. The co-working and flexible serviced office sector is the fastest growing commercial property sector worldwide and this will be a first Grade A serviced office for Dundee. Saracen is working on similar projects in other UK cities, as office building owners and co-working companies move towards more flexible workspaces. Demand for refits to respond to the growth in flexible working has been one of the reasons that the interiors company has grown rapidly in recent years. It is forecasting turnover in 2019 that will be close to double its sales volume last year. It is working on projects across the UK from its head office in Aldershot, Hampshire, and its growing northern division managed from its Manchester office. The company’s northern division has seen rapid growth with projects in Leeds, Sunderland and other locations in the north of England as well as Scotland. Saracen Interiors is the official workspace partner for clients including Dimension Data, Aggreko in London and Newsquest Media Group for whom it has worked on projects nationwide. Other large clients include Creative Foods Europe and Tata Communications. www.saraceninteriors.com
Mace Interiors has been appointed to deliver Woolwich’s new Creative District, which will see a historic military complex transformed into a major cultural destination. Mace’s fit-out will work alongside architect Bennetts Associates and creative consultancy The Chase and Land Design Studio on the project. Phase one of the project has already commenced and it involves the redevelopment of five Grade II listed buildings, the delivery of a 1200-seat venue, three professional studios, two community studios, three professional/educational studios, two reception spaces, public spaces and a café/bar. It is expected to be completed some time during 2020. Woolich Creative District will bring a significant boost to local development, with 400 long-term jobs expected to be created as a result of the work. Mace Interiors will also be supporting the local area, offering a number of construction apprenticeships and graduate placements on the project. “The development of Woolwich Creative District begins a new chapter in this history of Woolwich and will make the town a destination for Londoners and visitors from across the country. Punchdrunk is a truly world class organisation and I’m thrilled that so many internationally renowned artists and companies are making Woolwich their home; cementing its position as a new cultural hub, which will benefit communities across the wider borough. We are absolutely committed to ensuring local people feel the effects of this development by embedding community benefits into leases and contracts across the board,” commented Cllr Danny Thorpe, Leader of Royal Borough of Greenwich. Other important announcements included Punchdrunk as a resident company for the Creative District and the appointment of Valerie Vaughan-Dick as the Chair of the Woolwich Creative District Operating Trust.
Saracen Interiors is now reaching the end of a substantial fit-out project for Global Technology company Carl Zeiss. The interiors company is transforming c. 43,000 sq. ft. of office space plus undertaking a range of external works at a site in Cambridgeshire to create a world-class lean manufacturing facility, including a clean room, where Carl Zeiss will make electron microscopes for sale and distribution worldwide. The fit-out of Building 1030 at Cambourne Business Park covers three floors, and the complexity and specialised nature of the work has just been documented in a new video available to view at https://www.saraceninteriors.com/blog/5583/ Clive Longden, Saracen’s Site Manager, said: “It’s a complex project with some significant challenges, but working closely with our client, the team has successfully met these challenges, and we are now on track for completion and handover on time.” Saracen won the project in a competitive tender against strong competition, further cementing the groups presence in the industry. The team is managing a full fit-out of office space on floors one and two, as well as installing all-new kitchens and breakout areas. The first floor also includes a technical area for research and development that has required particularly careful design. But the toughest challenges have been on the ground floor where building a clean room for the production of the electron microscopes threw up significant mechanical and electrical hurdles as well as issues of coordination that the Saracen team has had to overcome. As well as the advanced M and E work, the project has required the installation of a range of specialised equipment, including cranes. Saracen has also installed an external goods lift as part of the project scope of works. The project came about as a result of significant local business growth together with increased global demand for the products and services of the two Cambridge based subsidiaries of the Global Carl Zeiss group. Carl Zeiss Microscopy Ltd and Carl Zeiss Ltd, wanted to combine operations and move from their two current premises in Cambridge, to a single facility and as a result have signed a long-term lease at Cambourne Business Park Saracen is managing the project so that staff will be able to easily transfer into the newly-revamped premises and to provide Carl Zeiss with room for further future expansion. www.saraceninteriors.com
FIS, representative body for the £10 billion finishes and interiors sector in the UK, announced the winners of the 2019 Fit-Out Futures Awards which were celebrated at the FIS President’s Lunch in London. Iain Mcilwee, FIS CEO said “the Fit-Out Futures Awards recognise the outstanding contributions and achievements of individuals, who have demonstrated excellence, dedication and commitment to their personal development, organisation and the finishes and interiors community. All the nominees were outstanding candidates and it was an honour to meet, host and award them” The event saw 300 FIS members and their guests come together to see the winners revealed in the delightful surroundings of Plaisterers’ Hall. Congratulations to all the winners and the shortlisted entrants. Apprentice of the Year Award WINNER: John Taylor – Stortford Interiors The judges commented that John was clearly a talented tradesman and that he was also changing attitudes internally about the positive benefits that an apprentice can bring to his company. John was also praised for his understanding of the importance of his work and the need to follow guidelines. He continues to develop as a fantastic example of why the modern apprenticeship system will shape our industry for the future. The award was presented by Sarah Beale, Chief Executive of CITB and Iain Mcilwee CEO of FIS. RUNNER UP: Danny Beadle – Pexhurst Services Danny was recognised for his commitment to all aspects of the day-to-day site role, as well as his dedication to learning and improving his skill-set. Future Leader Award – sponsored by CCF WINNER: Simon Broggio – Meronden Simon is an exemplar of how someone can enter the construction sector as a labourer and with the right attitude and work ethic work their way up to take on a Level 6 Construction Site Managers course. He is already a natural leader and an asset to the finishes and interiors sector. The award was presented by Dean Pinner, Managing Director of CCF Ltd and Iain Mcilwee CEO of FIS. Olton Bridge, 245 Warwick Road Solihull, West Midlands B92 7AH Telephone 0121 707 0077 Email info@thefis.org Website www.thefis.org RUNNER UP: Richard Austen – Stortford Interiors Richard was awarded runner-up due to his enthusiasm to adopt new ways of working and new technologies. He was also recognised for his ability to manage both his peers and his superiors. Outstanding Employee Award WINNER: Matt Taylor – Astins With more than 18 years’ experience in the industry, Matt was recognised for his never-ending energy and professionalism for design and to the sector. The award was presented by Nathan Garnett, Event Director at Media 10 Limited and Iain Mcilwee CEO of FIS. RUNNER UP: Ed Kelly – ETAG Fixings Ed was commended for his exceptional reliability, quality of work, initiative and professionalism, as well as his commitment to Etag’s work values. Lifetime Achievement Award – sponsored by CCF Ray Deeks – G Cook & Sons Ray was chosen as the recipient of this award for demonstrating a lifetime’s dedication to his trade. In particular, he was applauded for the amount of his own time he has committed to sharing his wealth of knowledge and experience with the wider industry. The judges said: “We all owe Ray a vote of thanks for the legacy that he continues to leave.” The award was presented by Dean Pinner, Managing Director of CCF Ltd and Iain Mcilwee CEO of FIS.
London’s super prime residential real estate more than held its own against the overall Brexit-plagued market last year, according to a report Thursday from Savills. The exclusive portion of the market where properties cost more than £15 million (US$19.5 million) saw transactions soar 43.1% in 2018 compared to 2017, data from the U.K. real estate agency show. The high-end transactions translated to a total sales volume of almost £2 billion, up 41.2% from 2017 and the highest figure since 2014, when the government introduced its new stamp duty rates resulting in much higher transaction costs at the top end of the market. Driving the increases are the relative bargains that can now be found in the prime London market. Some of the most expensive boroughs in London, dogged by political uncertainty, are seeing prices plummet, according to a report Monday from estate agency Your Move. Kensington and Chelsea, the most expensive borough in London where the average price in December was £1.7 million, saw prices drop more than a fifth in 12 months, down 21.2% from £2.25 million in December 2017. The capital has carried the brunt of the U.K.’s Brexit wariness, unsurprisingly, given the influence of immigration and overseas buyers on the market. “The price falls we’ve seen in the central London market, when combined with the depreciation of sterling, means the trophy properties of central London look relatively good value in an international context,” Lucian Cook, head of residential research at Savills, said in the report. “Despite the backdrop of political uncertainty and a less welcoming tax environment, these figures are clear evidence that London remains an attractive place for a growing pool of international high net worth individuals to live and conduct business,” he added. Values in prime central London peaked in June 2014 and have since fallen by 19.4%, with a 4.1% fall in 2018, Savills said.
