Chiltern Firehouse stokes up area’s property prices

 
Hotspot: the Chiltern Firehouse

It's London’s hottest restaurant — and now Chiltern Firehouse is heating up the local property market.

Estate agents and developers say the stream of “beautiful people” photographed emerging from the exclusive Marylebone venue, including Cara Delevingne, Lindsay Lohan and Kate Moss, has sent rent and property prices soaring as demand for homes rises.

Christian Lock-Necrews, of the Marylebone office of estate agent Knight Frank, said rents have risen by more than 10 per cent since the restaurant opened in February, more than twice as fast as in any other part of central London.

He said: “The sheer number of column inches generated by the Chiltern Firehouse has proved a powerful draw, with many clients name-checking the restaurant. Marylebone has been put on the map in the past year with a number of sales in excess of £10 million for the first time. The continued investment from the be The Portman Estate has transformed the area into one of quirky upmarket boutiques and fine dining.

“The vast majority of both sales clients and tenants are British in Marylebone, as it still retains an element of one of London’s best-kept secrets, but now with the celebrity connection, enquiries are coming from as far afield as Russia, Brazil, the US and China.”

Stars at Chiltern Firehouse - in pictures

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The developers of a new luxury apartment block called The Chilterns said property values have almost doubled in the area over the past 18 months, in large part because of the “Firehouse effect”. David Galman, sales director of Galliard Homes, said: “Go back 18 months ago and residential property prices around Chiltern Street averaged £1,700 per sq ft. Since the Chiltern Street Firehouse opened prices have jumped from £2,700 per sq ft to over £3,000 per sq ft.

“Chiltern Street has become the Mount Street of Marylebone, a luxury address frequented by celebrities and the rich and famous. All the beautiful people want to be seen on Chiltern Street which is why the restaurant is jam-packed, all the local bars and restaurants are buzzing, and homes for sale on the doorstep are flying out of the door.”

Chiltern Firehouse, a Grade II-listed former fire station, was transformed by hotel magnate André Balazs into a New York-style brasserie. It instantly became a celebrity magnet, drawing Lily Allen, Simon Cowell, David Beckham, Rita Ora and Orlando Bloom. Tony Blair and Bill Clinton have visited, while David and Samantha Cameron had a date night there this month.

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