Nestled between the areas of Marylebone, Soho and Bloomsbury you will find the increasingly popular Fitzrovia, a revitalised area of central London within the Borough of Camden and the City of Westminster. Due to an understated past, in comparison to its more famous neighbours, it hasn't become a tourist hotspot which has allowed it to retain its unique character. Our estate agency is located on Charlotte Street in Fitzrovia. We love the area and wanted to share our thoughts on why we think you should consider making Fitzrovia your home in London.
Previously big estates like Berners Allsop owned some huge portions of Fitzrovia but now Great Portland Estates, Derwent London, Hallam Estate and Shaftesbury PLC are the biggest landowners. Its past was synonymous with the rag trade and became a hotspot for traders and crafters until the late 90's before media and post production houses moved north from Soho to occupy the vast office spaces.
However, over the last 10-15 years, through investment and regeneration of the area, the popularity and attractiveness of Fitzrovia has been increasing year on year.
The Sanderson Hotel and the Charlotte Street Hotel really got the area on the map in the 90's as a vibrant destination for long lunches and evening drinks before a new wave of options started opening up after 2000.
As of 2016, it has been given the title of ‘best place to live in London’ by the Sunday Times. This suggests that the area, which has not always been on the radar, is up and coming and is attracting the attention of a lot of people not just from the UK and Europe but from Asia due to the big schemes selling off plan like Fitzroy Place and Rathbone Square.
After all it was rumoured to have attracted Lady Gaga to purchase a property, amongst many other famous residents like Guy Ritchie, Griff Rhys Jones and Gary Kemp.
Within the area there is a huge mix of properties from contemporary, modern buildings to the more historic Georgian houses, some of which have been converted in to separate flats and apartments. Fitzroy Square is nestled just within the perimeter south of Regents Park and boasts beautiful Georgian terraces on all four sides. These different styles blend together to create the quirky character of Fitzrovia.
In addition to this, Fitzrovia is well served by convenience shops and local supermarkets like M&S, Sainsburys and Tesco's, however it is renowned for its restaurants, particularly along the southern end of Charlotte Street. These cater to the needs (and pocket) of every resident, office worker and visitor. There are also a number of fine dining Michelin starred restaurants like Pied a Terre, Lima and Dabbous.
Fitzrovia is home to around 8,000 residents with 1,000 of them being students. This suggests that the area is not only appealing to those who work and have families, but it is also attractive to the younger generation.
The area has also enticed a lot of companies with 50,000 workers commuting to Fitzrovia. This area has become a hotspot for media companies and advertising agencies as well as being home to Este Lauder’s head office in Fitzroy Place.
The area has benefitted from huge investment and improvements over the years and there are still small pockets which are still undervalued compared to others close by. Buildings are being pulled down and rebuilt and others are being redeveloped which is only improving the appearance of Fitzrovia and creating new shopping areas, residential homes and new open spaces.
It has also attracted many restaurants which offer residents the option of eating out without having to venture to the bustling hub of Soho. Charlotte Street, in particular, has a great selection of fine dining including Michelin starred restaurants but quirkier options can still be found nestled in side streets and other locations for people 'in the know' or with a good restaurant app!
Furthermore, the investment and gentrification of the area has seen a continual increase in property prices. In the new development Fitzroy Place the cost per sq. ft. was £1,500 in 2014 and the same properties are reselling after completion at over £2,000 per sq. ft. just two years later. This highlights that Fitzrovia is a prime area for those looking to invest in London property.
Due to its central location, the area has easy access to some of the world’s most famous shopping streets such as the ever-busy Oxford Street, Bond Street and Regent Street, as well as many famous fashion locations like Carnaby Street.
In addition to this, the centrality of Fitzrovia means that you can access these areas by foot but residents also have access to a wide range of transport networks. After 2018, residents will be able to use the new Crossrail (The Elizabeth Line) from Tottenham Court Road, which will connect you to Heathrow and Reading to the west and Canary Wharf and Shenfield to the East.
Therefore, Fitzrovia will be an excellent place for commuters who wish to live in London and don’t want to experience long commutes if they have second homes or need access to the London airports.
Tube lines include Oxford Circus, Tottenham Court Road, Goodge Street, Warren Street and Great Portland Street as well as being only within walking distance to Euston, King Cross and St Pancras International.
Being established estate agents in Fitzrovia we have noticed that the properties found in this area offer good value for money compared to its neighbours, in particular Marylebone and Mayfair.
Fitzrovia is “likely [to] be up to £1,800 to £2,000,” per sq. ft. whereas, in Marylebone it can “[cost] up to £3,000.” This highlights that in Fitzrovia you get the same as you do in Marylebone but at a more reasonable cost, thus the area offers good value for money.
Residents can easily access the shops on offer in Oxford Street and the restaurants found in Soho on foot. The proximity of Fitzrovia to these streets gives it easy access to an unrivalled selection of some of the quirkiest and most highly regarded restaurants in London
In addition to this, Tottenham Court Road is undergoing regeneration and the area will soon be home to 500,000 sq. ft. of shopping space, thus providing residents with a wide range of shopping areas. You will never have to worry about not finding that perfect birthday present again.
Fitzrovia is home to many art galleries who moved into the area a few years ago when the area offered favourable rents. Subsequently, you will always be immersed in a wide range of art and will spot them on most streets.