Why Marylebone is London’s New Opulent Haute Spot

“Marylebone was traditionally dubbed the area for medical tourism,” says Alex Lawrie, a small-business owner in Marylebone. “Rich people from the Middle East would keep a pied-à-terre in case they needed to visit Harley Street or Welbeck Street [both known for private health care]. It also had the reputation for housing wealthy British bankers who couldn’t afford Chelsea.”
But Marylebone is now being sought after wealthy and stylish ones who wish to live in a neighborhood that’s just as good as the rest. The culprit behind this Marylebone craze? Money. Prices in Marylebone are much more friendlier as compared to Mayfair and Knightsbridge, where £5m buys more space than other areas in upmarket central London. Now, for those seeking more lavish properties, prices are starting to match those in Knightsbridge so take advantage now. Mayfair is so yesterday.

In fact, a new study from Knight Frank showed that 15 percent of Marylebone buyers in the past year came from Mayfair, five percent moved from Belgravia and seven per cent left Knightsbridge, Chelsea and Kensington. “Little over a decade ago Marylebone was an overlooked luxury London address,” says Tom Bill, head of residential research at Knight Frank. “But it has become a case study in urban rejuvenation.” So how did Marylebone become so popular? Designer stores started popping up, pavements were relaid, and developers were persuaded to transform offices into luxury residential properties. Marylebone now has one of the biggest construction pipelines in the capital.