Bordering Oxford Street and Regent's Park, it's easy to see why buyers and tenants from around the globe are attracted to Marylebone. With almost 40 years of experience between them, James and Alex share their market insights on selling and letting some of the finest properties in the capital.
Finish this sentence: you know you’re in Marylebone when…?
Alex: You are spoilt for choice for places to eat, this really is a dining destination. Chiltern Firehouse, Briciole and Delamina are all great hotspots if you need a respite from shopping!
James: You can escape to one of the many garden squares, my personal favourite is Montagu Square, the former home of The Beatles legend John Lennon.
Who are the typical residents in the area?
James: With a whole host of property styles, the area appeals to a wide range of people, whether you are looking for a townhouse, mews house, mansion flat or pied-à-terre. International buyers often make it their first stop when looking to relocate to London.
Alex: We deal with lots of young professionals and corporate tenants, who are attracted by our lively high street and central location, on the doorstep of Mayfair. Our Corporate Lettings and International Relocation team receive hundreds of enquiries every week from global blue-chip companies and overseas investors, many of whom deal exclusively with Dexters for their property needs.
What is the market like at the moment?
Alex: We are experiencing an extremely active lettings market. Demand to live in London is at an all-time high and the average price we are achieving in Marylebone is 50 per cent higher this year compared to 2021. With an influx of people returning to the capital, tenants and Landlords are coming to Dexters for their high-end property needs.
James: Demand is definitely outstripping supply, which in turn is pushing up the prices, particularly on the most prime roads. Interest rates are still historically low so buyers looking for a home are keen to make a long-term investment, jumping in where they see good value, location or both.
What appeals to you most about the properties here?
James: The architecture in London has been well preserved but you will find new modern developments popping up. We are currently selling a property in The Bryanston, an exciting landmark development offering luxury city living with uninterrupted views across Hyde Park. Similarly priced to this apartment is a Georgian townhouse on York Street that we recently sold in the region of £6,750,000. It is really a matter of taste and preference but both are equally appealing.
Alex: I love a grand and historic building that has a very modern interior. We recently let a mews style cottage over five floors on Bingham Place with an asking price of £5,000 per week. It had been completely renovated to a very high standard and a tenant was found before the property even hit the market.
What are some of the changes you’ve witnessed here over the years?
Alex: Under the mindful stewardship of The Portman Estate and The Howard de Walden Estate, a lot has changed over the last decade. The High Street has been meticulously crafted to attract some of the finest independent retailers, cafés and restaurants. We are fortunate to have two prime office locations on Weymouth Street, just off the High Street.
James: It is a privilege to be able to see and work with some of the world’s most impressive properties, both new and old. Marylebone is a busy metropolis, but to us there is a real sense of community which it is great to be a part of.
Find Alex and James at Dexters Marylebone
