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Fitzrovia’s Renaissance

07.12.21

Art Invest Real Estate, ECE and Dukelease Properties recently unveiled 101 on Cleveland, a boutique residential development in the heart of Fitzrovia. An area fast emerging as one of the most desirable destinations to live in Prime Central London, the £190 million scheme comprises 88 private residences, 35,000 square feet of commercial space and 15 affordable homes and has enjoyed strong sales to-date with over 60% sold.

Designed by award-winning architects and interior designers, Assael, 101 on Cleveland is inspired by Fitzrovia’s rich history, with the building’s façade echoing Cleveland Street’s Georgian origin. Comprising three buildings with a range of spacious one, two and three-bedroom apartments, and private amenities including a gym, sauna, screening room, dining room and lounge, with landscaped gardens on the podium level, 101 on Cleveland has been designed to capture the essence of Fitzrovia’s urban grain with an emphasis on traditional craftsmanship.

Gaining its name from the infamous Fitzroy Tavern located on Charlotte Street, this historic prime central London neighbourhood has come to be recognised as not only one of the most bohemian but also influential districts in the capital. A creative pocket, home to some of London’s famous landmarks, including the BT Tower, today, the rich character of the area is celebrated through the diverse variety of restaurants, museums, galleries, and shopping opportunities, all of which combine to give the area its colourful identity.

Whilst sales and house prices have remained stagnant in many of London’s golden postcodes, prices in Fitzrovia are reported by CBRE to have increased by 16 per cent over the last 5 years, enhanced by the district’s unique amenity offering. With limited new build activity in the area, 101 on Cleveland’s 88 private units account for 57% of the 158 private units planned for this area until 2023, signalling that demand over the next few years is expected to far outstrip supply.

Alex Carr, Director at JLL comments: “Residential and commercial development is playing a central role in the transformation of Fitzrovia, bringing a heightened profile and attracting new and exciting tenants. With little new build activity in Fitzrovia since 2017, despite growth in popularity and desirability, ongoing demand for developments such as 101 on Cleveland, is expected to be significant.”

Fitzrovia’s creative draw has attracted large companies including Facebook and Estee Lauder, who have chosen the area for their Headquarters. Adding to the impressive roster of commercial tenants who call this district home, earlier this year, British fashion retailer Ted Baker announced the move of its Global Headquarters from King’s Cross to the flagship commercial space at 101 on Cleveland.

Sam Aston, Associate Director at CBRE comments, “The development of Fitzrovia in recent years has added to the area’s distinct local character, enhancing it as a destination. Over the last 10 years, the number of 4-star and 5-star hotels in the Fitzrovia district has grown 25%, with high quality office space increasing 831%. The district also boasts four Michelin starred restaurants and some of the world’s most prestigious universities, making it an attractive area in every capacity for purchasers at 101 on Cleveland.”

The importance of Fitzrovia’s history is further reflected in the interiors at 101 on Cleveland. London, and Fitzrovia in particular, has a storied history of craftsmanship with skilled tradesmen and acclaimed British makers such as Thomas Chippendale shaping the way the city has developed over the ages. Inspired by Chippendale’s appreciation of eclecticism, and the rich heritage of Fitzrovia’s creative past, interior design studio Bergman & Mar have delivered the buildings’ amenity spaces and three-bedroom show apartment paying homage to London’s craft traditions. Incorporating bespoke pieces within their design of the scheme’s communal spaces, works by over 40 international and British makers, manufacturers and artisans can be identified throughout the development.

A stone’s throw away from London’s theatre district, Fitzrovia is a hidden gem in the heart of the West End. Centrally located in Zone 1 and bordering Oxford Street and Regent’s Park, 101 on Cleveland’s transport links encompass Great Portland Street, Goodge Street, Warren Street and Tottenham Court Road underground stations. Next year Tottenham Court Road station will give access to the Elizabeth Line which will further enhance the connectivity of the area and enable residents to reach London’s financial district in five minutes and Heathrow Airport in 28 minutes.

Ali Abbas, Managing Director and Head of Art-Invest Real Estate, London comments: “Our vision for 101 on Cleveland was to deliver something which complements the diverse physical and social fabric of Fitzrovia - to achieve this we placed a key emphasis on innovation, stakeholder engagement and sustainability as is the case on all our landmark projects. It is a privilege to be a custodian of a one-acre site in such a vibrant and culturally rich community and within earshot of historic landmarks such as Fitzroy Square, Regent’s Park and London Zoo, where I have and will continue to spend many memorable moments with my family and friends.”

James B. Lewerenz, Project Director Living, ECE adds: “ECE is thrilled to be involved in delivering 101 on Cleveland in the heart of Fitzrovia. The area is truly unique and embodies everything that London as a city has to offer.”

Richard Leslie, CEO and Founder at Dukelease Properties concludes: “At Dukelease Properties we are committed to building high-quality residential developments in London’s most sought-after locations and 101 on Cleveland is no exception. Fitzrovia is fast emerging as the most desirable destination to live in Prime Central London. Bordered by Oxford Street and Regent’s Park, 101 on Cleveland takes prime position in the heart of the neighbourhood and will be the first residential offering of its kind in recent years”.

Prices for a one-bedroom apartment at 101 on Cleveland start at £1.3 million.

www.101oncleveland.com

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