London Property Keeps Value

The recently released Halifax house price index has confirmed that valuations are coming down.

According to the index, house prices are now 4.26 times the average UK wage - the lowest ratio since 2002 and a drop of 27 per cent from the peak of 5.84 in July 2007. Mortgage rate cuts are thought to have been a key factor in boosting affordability, although mortgage approvals remain at historically low levels. But potential buyers are being advised to hold off for just a short while longer as the ratio falls further.

Rising unemployment, low consumer confidence and the reduced availability of credit are all expected to exert downward pressure on the housing market over the next few months.As a result, further house price declines are likely. House prices declined by 1.7 per cent in April, slightly less than the 1.9 per cent fall in March.

The UK average price of £154,716 has returned to where it was five years ago in April 2004 (£154,511). The Government's pledge to raise the Stamp Duty threshold from £125,000 to £175,000 has helped more than 45,000 homebuyers since last September.

But its effect has been less substantial in London where only 18 per cent of total sales were below £175,000 between September 2008 and January 2009, compared with 79 per cent in the north.

Residential Investment Property in Pimlico

River Lodge
Grosvenor Road
London
SW1V



Net Saleable: 10820 sq/ft*
£ 11,000,000 Leasehold
River Lodge is a residential block set over ground and upper floors with direct frontage on the River Thames.

The accommodation comprises 10 apartments (of 12 within the building), set over ground and three upper floors. The property is currently configured to provide 4 one bedroom flats, 2 two bedroom flats and 4 three bedroom flats. The building also benefits from a lift, porters station and six underground parking spaces are included in the sale. Six of the apartments benefit from balconies directly overlooking the river and one has a large patio garden.

The property is well served with public transport with Pimlico underground station (Victoria Line) under eight minutes walk away and Victoria Station, a mainline station serving Dover, Brighton and the Gatwick Express only 1.15km to the North.

Paramount Investments
150 West End Lane
West Hampstead
London NW6 1SD
DDI: 020 7644 2307
Fax: 020 7604 3457
Mob: 07949 175 280
Web: http://www.paramount-investments.co.uk
Blog: http://uk-pubs-for-sale.blogspot.com/

Pimlico Lettings Agents: Lettings in London SW1

The district of Pimlico runs south of Victoria down by the River Thames and is bordered to the west by Chelsea and to the east by Westminster.

A popular residential choice with a prevalence of white stucco-fronted houses, Pimlico is much quieter than its busy neighbour Victoria.

Lettings in Pimlico SW1

Pimlico offers a stylish, central location for those who don't wish to pay Belgravia prices. Flats and apartments dominate with family homes. Tall white stucco buildings offer grand accommodation. Ex-council blocks line the river next to Dolphin Square, which are rapidly changing to plush new portered developments.

A few streets are busy through-routes, yet a vigorously enforced traffic scheme ensures that the majority enjoy a quiet life.

History of Pimlico

Until the late 17th or early 18th century, Pimlico was known as Ebury or "The Five Fields". According to tradition, it received its name from Ben Pimlico, famous for his nut-brown ale. The name may also derive from a Spanish word for drink.

Millbank Prison (1816-1880) was the spot from which prisoners were transported to Australia.

By the 19th century, and as a result of an increase in demand for property in the previously unfashionable West end of London following the Great Plague and the Great Fire of London, Pimlico had become ripe for development. Thomas Cubitt was contracted to develop Pimlico in 1825.

As early as the latter half of the century, however, Pimlico saw the construction of several 'Peabody Estates' charitable housing projects designed to provide cheap, quality homes for the poor. In addition, in the post war period, several large public housing estates were built in the area on land cleared by bombing. Many of the fine Victorian houses were converted into bed and breakfasts and hotels.

In 1950, embarrassed by the slums and brothels with which Pimlico had become associated in the press and criminal courts, the Second Duke of Westminster sold the part of the Grosvenor estate on which it is built.

Now, as in Central London in general, Pimlico property prices are high, and the area is again fashionable. A large number of houses have once again been repurposed, being divided into one or two bedroom apartments intended for young professionals.

Travel Links to Pimlico

• Pimlico (Victoria Line)

• Vauxhall Railway Station

• Motorway Junction M4 Junction 1

• Airport London City

Pubs, Bars, Cafés and Restaurants in Pimlico

The Jugged Hare
172, Vauxhall Bridge Rd, Pimlico, London, SW1V 1DX
Tel: 020 7828 1543

White Ferry House
1a, Sutherland St, Pimlico, London, SW1V 4LD
Tel: 020 7834 3960

The Elusive Camel
27, Gillingham St, Pimlico, London, SW1V 1HP
Tel: 020 7233 9004

The Spread Eagle
79, Grosvenor Rd, Pimlico, London, SW1V 3LA
Tel: 020 7821 8786

The Lord Burleigh
250, Vauxhall Bridge Rd, Pimlico, London, SW1V 1AU
Tel: 020 7834 0553

Marquis Of Westminster
50, Warwick Way, Pimlico, London, SW1V 1RY
Tel: 020 7834 4339

J.D Wetherspoon
Unit 5, Victoria Island, Victoria Station, Victoria, London, SW1V 1JT
Tel: 020 7931 0445

The Gallery
1, Lupus St, Pimlico, London, SW1V 3AS
Tel: 020 7821 7573

Surprise
110, Vauxhall Bridge Rd, Pimlico, London, SW1V 2RQ
Tel: 020 7828 5322

The White Swan
14, Vauxhall Bridge Rd, Pimlico, London, SW1V 2SA
Tel: 020 7821 8568

Allium
within Dolphin Square Hotel, Dolphin Square, Pimlico, London, SW1V 3LX
Tel: 020 7798 6888

About Thyme
82, Wilton Rd, Pimlico, London, SW1V 1DL
Tel: 020 7821 7504

Garfunkel's Restaurant plc
Victoria Place, Victoria Station, London, SW1V 1JT
Tel: 020 7630 5991

Sole Mio (Uno) Ristorante Italiano
35, Belgrave Rd, Pimlico, London, SW1V 2BB
Tel: 020 7828 3613

Pimlico Tandoori Indian Restaurant
38, Moreton St, Pimlico, London, SW1V 2PB
Tel: 020 7834 3375

Mekong Vietnamese & Oriental Restaurant
46, Churton St, Pimlico, London, SW1V 2LP
Tel: 020 7630 9568

Kazan
93-94, Wilton Rd, Pimlico, London, SW1V 1DW
Tel: 020 7233 7100

New England Hotel
20, St. Georges Drive, Pimlico, London, SW1V 4BN
Tel: 020 7834 8351

Chop Stix Xchange
73, Wilton Rd, Pimlico, London, SW1V 1DE
Tel: 020 7630 8781

Victoria Thai Restaurant
322, Vauxhall Bridge Rd, Pimlico, London, SW1V 1AA
Tel: 020 7931 0935