Strutt & Parker has announced that its long-established Chelsea SW3 residential estate agency team has vacated its premises at 43 Cadogan Street, with staff teaming up with colleagues at the firm’s flagship Knightsbridge branch at 66 Sloane Street.
Strutt & Parker Sloane Street will now cover prime residential sales and letting across Chelsea, Knightsbridge, Belgravia, Mayfair, Westminster and Pimlico, while the premises at on Cadogan Street is now home to the firm’s National Country House Department.
Louis Harding, head of London residential agency at Strutt & Parker, said: “By combining our formidable teams in Knightsbridge and Chelsea we are strengthening our offering and service to clients who expect the very best. The merged team now has over 100 years of prime central London estate agency experience between them, with an exceptional breadth of knowledge and expertise.”
“This decision was a logical and natural move for us. The teams already work closely together as they cover neighbouring patches with offices only 600 metres apart. The prime positioning of our flagship office at 66 Sloane Street offers the perfect base for the combined team to successfully cover the Knightsbridge, Belgravia and Chelsea markets.”
The decision to merge the Knightsbridge and Chelsea teams at 66 Sloane Street comes just a few weeks after Strutt & Parker warned that in a worst-case scenario property prices in some parts of London could fall by up to 10% this year.
The company predicts that the potentially largest price declines are likely to take place in prime central London.
A recent statement from Strutt & Parker said: “The short-term impact in this part of the market could be much gloomier with drops year-on-year of up to 10% although these price falls are likely to only be felt in very low trade environments, specific sub-markets, or with properties that have no other option but to transact at the current time.”
The agency believes that the best-case scenario for prime central London is for prices to remain broadly unchanged over the next few months, supported by what it sees as the “positive impact” of the stamp duty holiday.