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Boat Race: The price of a river view equals 20% premium

3rd April 2014 Print

As thousands of people flock to see the Boat Race on April 6th, the spotlight will also shine over the four miles and 374 yards of real estate from Putney to Mortlake. During the race, the crowds will be exposed to some of the best homes in London, with their uninterrupted views of the waterside. Highly prized for their beauty and sense of space, all year round properties with prime views of the river attract price premiums of around 20%, according to Marsh & Parsons.

Situated in Fulham, on the Middlesex side of the boat race course, a magnificent four-bedroom property with views of the River Thames is on the market for £1,925,000. By comparison, typical four-bedroom properties of this size situated further inland in Fulham, command a price tag of around 17% less on average. For instance, a comparative property for sale in Fulham, near the River Thames but without a view, is currently on the market for £1,650,000.

Peter Rollings, CEO of Marsh & Parsons, said: “As a rule of thumb, the enduring appeal of old father Thames adds 20% in value to property that overlooks it. During the Boat Race, those with prime river views enjoy the kudos of showing off the best seats in town to friends, but it is the year-round appeal of the river that generates the price difference. Breath-taking river views add a real sense of space to a property, and scenic river paths provide opportunities for walking and cycling through the capital. Emerging new build developments stand out in particular, many of which have been marketed abroad, and are in high demand from both UK and international buyers.”

Positioned at the Surrey side of the boat race, a striking four-bedroom penthouse in Barnes with panoramic river views is on the market for £2,999,950. This is an ideal location for rowing fans who want to show off grandstand seats to friends. By comparison, another property of the size further inland recently sold for £2,500,000, giving a 20% price premium to properties with river views in this area.

Positioned on the Fulham Chelsea border, close to Imperial Wharf and the amenities of the Kings Road, Marsh & Parsons has an exceptional three-bedroom property with stunning views of the River Thames. Boasting impressive water front views from all angles, it is on the market for £3,300,000.

There are also more affordable alternatives. A two-bedroom property near Barnes Bridge, with prime riverside views, is currently on the market for £999,950. In this case, the river view contributes to an even higher price premium of 29%, when compared to a two-bedroom luxury property without a view, just a stone’s throw away and also on the third floor, which recently sold for £775,000.