New research by Marsh & Parsons has discovered that properties overlooking one of the capital’s green lungs can attract a sizeable premium.
With private garden space often limited in the city, homeowners often seek refuge in one of London’s many parks. The premium of having a direct view over green space can be almost 10% in some cases – as with the Pimlico example listed below – but is more often a single-digit difference.
Peter Rollings, Chief Executive Officer of Marsh & Parsons, said: “London’s parks, commons and green spaces are a huge asset for anyone living in close proximity to them – and even more so if a property has a direct view. It’s at times like this with temperatures soaring that easy access to parks is a real bonus, but being so close to green space is a huge asset throughout the year – especially for families with young children. Properties overlooking a park or common will usually attract a noticeable premium – particularly in the case of direct views over London’s Royal Parks such as Regent’s Park and Kensington Gardens – but also some of the city’s prestigious private gardens as the Pimlico example highlights.”