What does £1Million Buy in London?

I work with a lot of international buyers and for many £1M is the sweet spot.  In many parts of the world, with a £1M budget, you would be assured a mansion.  Well not so much in London! 

So let’s see how far our budget will go.  

Coleville Road

First up we’ve got a 3 bedroom, 1 bath flat on Coleville Road in Notting Hill.  It’s Share of Freehold which is definitely the preferred level of ownership for a flat, but not the norm.  You get 3 bedrooms at almost 950 square feet located on the first and second floors.  

The location is great as you’re on a tree-lined street close to great shops and restaurants and world-famous Portobello Road,  but this flat will need a bit of modernizing.  

For many of my buyers, I have to stress that there will be tradeoffs and it will be hard to get everything you want in a single property. In this case, you get 3 bedrooms which are nice, but are you okay with only 1 bathroom. I have to say that 2 bathroom units are definitely a premium, but much harder to find.  At 947 SF, this equates to £1,056/SF. 

Royal Crescent, Holland Park

Next up we’re in gorgeous Holland Park known for well yes, its park with a Japanese Kyoto garden, but also for its incredibly beautiful homes along tree lined streets along with a great high street.  

This flat is a lower ground flat in this beautiful building on Royal Crescent which means the street is curved.  For many of my buyers, a lower ground flat won’t work because some can feel quite dark and ceiling heights might be lower than on other floors, but in many cases, the lower ground unit offers the outdoor space.  

And that’s the case here.  This 2 bedrooms, 2 baths with a separate entrance and small front patio along with a good size back patio.  I love that it also has that conservatory space with skylights to bring in lots of light.  I like this flat because it’s in great condition, share of freehold and you get that elusive second bathroom/shower room. At 859 SF, this equates to £1,164/SF. 

Trafalgar Grove, Greenwich

Now let’s head south of the river and get a house.  We found this 4 bedroom, 2 bathroom mid-terrace home in Royal Greenwich, with its deep maritime roots. 

This house is “mid-terrace”, meaning it is in the middle of the row of houses.  If it’s at the end, we would call that “end of terrace”. 

At 1,147 SF, this equates to £872/SF.  The house has a garden and off-street parking and is modern in décor though you may want to still upgrade.  One of the drawbacks I see is that it’s close to a train station Maize Hill, but not really close to a tube station.  So for some people, that may be a big drawback.  But again in giving up proximity to a tube station, in return, you get a whole house with parking and garden. 

Queenstown Road, Battersea

Staying south of the river, we’ve found this gorgeous leasehold flat in a luxury new development on Queenstown Road in Battersea.  

It’s a 2 bedroom, 2 bath flat located on the 4th floor with a balcony across 775SF (or £1,290 per Sq.Ft.).  So we can see that it’s a higher price per square foot than our house and in this case what you’re getting is views of Battersea Park, 24-hour concierge, gym, pool and residents cinema room.  

One more thing that you get in new builds that you won’t find in converted terrace properties is what they call here “comfort cooling” or air conditioning but it does differ slightly.  

You are .2 miles from Battersea Park train station and .3 miles from the newly opened Battersea Power station tube station. 

Bagshaw Building, Canary Wharf

Now let’s compare that new build to another new build in Canary Wharf.  Here we have a leasehold 2 bedroom corner apartment with direct views of Canary Wharf and City, located at the Bagshaw Building. 

It’s got a wrap-around garden balcony,  an open plan kitchen living area, two double bedrooms with built-in storage, along with ensuite bathroom and main bathroom. 

Residents are members of The Wardian Club, with exclusive access to first class facilities, including a private dining area, a rooftop observatory and bar, state-of-the-art gym as well as a yoga studio. 

You are within walking distance to Heron Quays station which is part of the DLR rail network of southeast London.  In addition, you’ve got a fantastic transport network including the Jubilee Line, Docklands Light Railway, Thames Clipper boat services and European flights via London City Airport. Canary Wharf will also be a key station for the major new east-west railway line, Crossrail.

Canary Wharf is now the predominant financial centre of London with headquarters for many global financial, legal and professional service institutions.  

Price per square foot for this property is £1,145. 

St. John’s Wood Road

Finally let’s head to St. John’s Wood, another highly desirable upscale neighbourhood in London.  

St. John’s Wood is incredibly popular for its village vibe, proximity to Regents Park, great high street and tube station on the jubilee line providing direct access down to the Canary Wharf for finance executives as well as Westminster, the seat of government. 

It’s also home to the American School London, so great for American expat families. 

This is a 2 bedroom, 2 bath flat looking directly across at Lords Cricket Grounds.  It’s on the 7th floor and has a balcony along with lock-up garage.  While it’s in an older apartment building, it’s been modernized.  You’ve got a large living room dining space and the building has 24-hour porter. 

You’re close to St. John’s Wood High Street but you are .4 miles from the St. John’s Wood tube station.  At 950 SF, it calculates to £1,053/SF.  

Which of these properties did you like most? Do you have a specific area in London that you would love to live?