Lillie Square will be one of the largest and most high-profile residential developments in London, transforming what is currently a 7.4 acre car park on Seagrave Road into 808 high-end new homes offering modern garden square living. This is the first phase of the £8bn Earl's Court redevelopment, which I blogged about here.
Lillie Square will have one to three bedroom apartments as well as contemporary four and five bedroom family homes with private gardens and secure garage parking. Residents will enjoy an enhanced London garden square living experience, with over 50 per cent of the site offering open space for relaxation and play.
The 1 million square foot scheme is a joint venture between between Capco and KFI which represents interests of certain members of the Kwok family.
Look at the map. Easy to identify because it is a sprawling carpark today, which I have marked out as "Lillie Square" in yellow.
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The plot is just south of West Brompton Tube station (District Line).
West Brompton Underground
District Line
West Brompton to Bayswater (remember the duck?) in 10 minutes.
This phase of the development is within walking distance of Earl's Court, however, the distance may get a little bit far if your unit towards the southern part of the plot. (Should be about 1km from the southern most tip), Hence, if you are buying, get a unit near to West Brompton.
Earl's Court Underground
Earl's Court to Knightsbridge (Harrods) in 6 minutes
Earl's Court to Leceister Square (Chinatown) in 12 minutes
Pricing
Very aggressively priced. This development is obviously targetted at overseas (rich) investors. From the price lists that we saw, units were at least £1,300 psf, all the way up to £1,800 psf.
At such aggressive prices, we personally think that Elephant Park is better value. (£800 psf) If you have the budget for such properties, you should also be looking at Paddington Exchange, which we blogged about earlier. (~1,500 psf)
This is what Lillie Square looked like before re-development (an ugly carpark).
Happy investing!
Important Disclaimer - . The views contained in this blog and blog post are entirely mine. We cannot be made responsible for any investment decisions you may, or may not, take. Nothing in this blog can be construed as professional investment advice, as we are NOT professional investors and we are ill qualified to give you any advice. Read the blog at YOUR own risk
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