City bonus postcodes - No.4: Marylebone, W1

In recent years Marylebone has become cool enough to attract the likes of Sienna Miller, Madonna and Noel Gallagher, but it also attracts a lot of City money.

picture of MaryleboneChristian Lock-Necrews, head of sales at Savills, explains the attraction: “One key reason is that it has great links to Canary Wharf via the Jubilee and District lines. It’s become very popular in recent years and we sell a lot to City buyers. We’ve seen a lot of Goldman Sachs employees over the years.

“Mews houses are popular with couples and young families, priced between £2m-£4m. Devonshire Mews South would be very sought-after, as would Devonshire Place Mews.

“Large lateral apartments in portered mansion blocks are also a big draw - especially with overseas buyers – but they need to be a turn-key proposition, interior designed and finished, right down to the soap dishes. Buyers like this don’t have time to think about curtains!

“There are some fine Georgian houses here too – we recently one to a City banker for £7m. But they don’t come on the market very often. Usually our buyers are purchasing a main home (British) or a pied-a-terre. We get a lot of City buyers from overseas here – lots of Russians and Americans, and also Indians and Europeans.”

What about the prices?
The Primelocation Index says: down 2% over the past year.