With luxury developments popping up all over London and desirable destinations around the world, one of the ways developers separate themselves from the competition is through the amenities they offer. No longer is it enough for a development to have a swimming pool, it needs an on-site spa as well, while homes come with latest gadgets and hi-tech security features.
“The ultra-prime market has matured. These clients have seen it all before — IMAX cinemas, private bowling alleys, golf simulators, car lifts etc — and they’re no longer dazzled by novelty for novelty’s sake. If an amenity doesn’t genuinely enhance their daily life, it risks feeling like an expensive gimmick,” says Robin Edwards, partner at Curetons buying agency.
Of course, these amenities don’t come for free and are factored into a development’s annual service charge — something even ultra-high-net-worth individuals (UHNWIs) pay attention to. “Many of our clients now consider service charges in the context of the overall purchase and whether this is something worth paying for when looking at new luxury builds,” says Camilla Dell, founder of Black Brick.
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We spoke to seven property experts to get their take on the facilities most likely to catch the eye of a wealthy buyer.
With luxury developments popping up all over London and desirable destinations around the world, one of the ways developers separate themselves from the competition is through the amenities they offer. · Alexander Spatari via Getty Images
The security of their home is regularly something that tops the list of must-haves for UHNWIs. This is not just because they might be high profile and a target for potential thefts but also because their homes are often left unoccupied for large periods of time as they may own several properties around the world.
“Discrete safety and security features are a big priority, private entrances and fixtures like biometric access and advanced surveillance and monitoring equipment,” says Edwards.
It’s not just break-ins that residents are worried about. They want to know that nothing is going wrong with their home while they are away – whether that’s a leaky boiler or a broken fridge – and that everything will be in working order on their return.
Jamie Hope at Maskells explains: “We have seen a significant increase in our home management offering, especially to monitor and service key infrastructure systems so that the owners know that when they are away, the property is secure and when they arrive, the (often very high tech) systems are working as they should do.”
Coupled with security is the important role that a concierge plays — in the online era, they aren’t just someone from whom you collect your mail.
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“What nearly all of our high-end buyers do want though is a first-class concierge who will handle Amazon (AMZN) deliveries, dry cleaning, hand their dog over to the walker and can arrange a proper hotel-standard turndown service,” says Jo Eccles, founder of Eccord buying agency.
“Practical ‘back of house’ facilities have had to evolve and develop significantly with the rise of food deliveries such as Deliveroo (ROO.L) and Ocado (OCDO.L), needing to be able to accommodate and store hot and cold food until the concierge is able to take them up to the apartment, as delivery drivers won’t be permitted to roam the building.”
Amenities geared towards helping parents with younger or teenage children are becoming increasingly sought-after. · Drs Producoes via Getty Images
Several of our experts reported that amenities geared towards helping parents with younger or teenage children were becoming increasingly sought-after.
“Our concierge teams are placing increasing emphasis on teen-focused programming that encourages time away from screens,” says Liza Zuravel at Rhodium, a luxury property management company. “Parents are actively looking for activities that are social: cinema nights, table tennis, pool. Even when teens are reluctant at first, they often end up appreciating the chance to unplug.”
Eccles cites one London development, in particular, that has cottoned onto the potential of this valuable service: “Holland Park Gate caters incredibly well for children and even has a house car with a driver on standby for school runs. That’s the kind of service clients really value and are willing to pay for.”
Many developers are increasingly shouting about their use of sustainable and environmentally friendly materials – and for good reason.
“Developers integrating sustainable building materials and energy efficient tech to environmentally conscious buyers with certifications like LEED or WELL have become key selling points, not just for ethical reasons, but because these credentials protect long-term asset value,” says Kate Donneky of Rhodium.
“As climate concerns escalate, developments with poor environmental performance will struggle to maintain relevance.”
Dual kitchens, one for show and entertaining, another for staff and day-to-day use, are popular at the moment. · AzmanJaka via Getty Images
While Boomers preferred to eat in a dining room, wealthy Millennials and Gen-Zers want a luxury kitchen where they can entertain. This means that they often need a second kitchen where either they or their staff can prepare the meal.
“Dual kitchens, one for show and entertaining, another for staff and day-to-day use, are also hugely popular with my clients at the moment,” confirms Edwards.
As many HNWIs regularly work from home, they need spaces that can be adapted to their business needs — and even those that replicate the social side of being in an office.
“Today’s buyer wants rooms that can evolve with their needs, home offices that convert into wellness suites, entertainment spaces that double as work zones,” says Jenny Naylor of Rhodium.
“We’re also seeing a rise in co-working lounges and residents’ clubs within schemes, supporting hybrid lifestyles without compromising on luxury.”
Swimming pools are becoming ‘less relevant’ for high-net-worth individuals. · FreshSplash via Getty Images
It’s well-known that a development with an indoor swimming pool usually comes with a hefty service charge.
“Swimming pools are in our opinion becoming less relevant and important for UHNWIs. In most new builds that we view we rarely ever see the pools being used and of course they cost a fortune to operate,” says Dell.
With London square footage at a premium, swimming pools are often found in the basement of a development, making them unwelcoming spaces for residents. Robin Edwards says he’s come across “lots of narrow basement swimming pools barely big enough to swim in” while researching homes for his wealthy clients.
While fitness and wellness are growing areas, developers need to carefully consider the benefits of a spa or luxury gym.
“Most high-end developments in prime central London have their own treatment rooms but they’re rarely used in my experience,” says Eccles. “I can’t recall a single occasion in my 20-year career when we haven’t been able to view the spa rooms because they’re occupied.
“And many UHNWs will prefer to join a prestigious gym nearby such as Third Space or KX, as they may be loyal fans of a particular class there and are also going for the social and networking aspect.”
Most high-end developments in prime central London have their own treatment rooms but they’re rarely used, according to one expert. · PeopleImages via Getty Images
There’s the temptation for developers to maximise square footage in expensive cities, which often involves digging down several storeys. Not only is this expensive but there is a ceiling on how usable this extra space becomes.
While underground car parking is usually a win, other basement areas, used as wine cellars, cinema rooms, nightclubs and padel courts, are not so popular and are rarely used.
While technology has made many aspects of life easier, it can also make it more complicated, especially when it breaks down.
“If you need an iPad and a manual to turn the lights on and off, the design has failed,” says Edwards.
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