Marylebone becomes desirable place to rent
property in London's Marylebone has become the most recent area to be reclassified into the 'prime' bracket, according to one London Estate Agent.
Knight Frank claims that the area is becoming more popular with people choosing to rent property in London due to its high-quality developments and abundance of food and retail facilities.
The London Estate Agent said that this news marks the expansion of the boundary of prime Central London property.
In the 1990s Notting Hill was added to the index and South Bank was an addition to the books last year.
The Marylebone area includes the Georgian Portman Estate, as well as a number of cultural attractions, such as the Wallace Collection and Wigmore Hall.
"There is an abundance of rental stock in the area, much of it owned by the two estates. However, values continue to grow, in common with much of the rest of Central London," said Liam Bailey, Knight Frank's had of residential research.
Knight Frank is now predicting that growth of over five per cent is predicted throughout the capital during 2008, which is expected to boost rental yields in the area even further.
Published 15th August, 2008
© 2008 Estates IT Limited
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Property in London's Marylebone has become the most recent area to be reclassified into the 'prime' bracket, according to one London estate agent.