Introduction
The prime central London neighbourhood of Chelsea has a surprisingly colourful history. In the nineteenth century it was renowned as the city’s bohemian quarter, frequented by artists, radicals and poets. Its main shopping street, the world-famous Kings Road, has seen boutiques like Mary Quant’s Bazaar and Vivienne Westwood’s SEX define the styles of the Swinging Sixties and the British punk movement. These daysChelsea is one of the most exclusive and expensive parts of the capital and its inhabitants tend to be high-net-worth individuals from all over the world – it is home to one of the largest communities of Americans living outside theUnited States, with 6.53% of Chelsea residents having been born in the US.
Once known as “a village of palaces”, Chelsea combines an intimate, community feel with some magnificent housing stock and a prime central location on the River Thames. It is buzzing with smart restaurants, excellent retail and cultural destinations, but retains an atmosphere of salubrious calm in its white stucco squares and streets ofVictorian mansion flats.
£3.8 million
average price of a terraced house
70%
proportion of cash buyers
Property market
Chelsea is an extremely desirable area and priced accordingly, with the average property price standing at £1,936,076 over the last year (Rightmove). Terraced properties sold for an average of£3,820,312, with semi-detached properties fetching £9,591,667. Savills recently heralded conditions in the local market as ‘the best in 15 years’, reporting that “a wave of confidence has flowed through the Chelsea sales market this year…with more US buyers than ever before.”[1]
The ten affluent areas of London that LondonRichmond invests in tend to be better protected from interest rate rises than more affordable areas as they attract a greater proportion of wealthy cash buyers. At a recent property viewing with Chestertons on Hollywood Road inChelsea, we were informed that cash buyers had made up over 70% of the completed transactions from their Chelsea office in 2023, making rises in interest rates irrelevant to the majority of their buyers. We expect property prices in Chelsea to rise as we see an increasing number of properties going to best and final sealed bids with buyers fighting over the best properties on the market.
Things to do
Chelsea is replete with interesting spots for those of a cultural or historical bent. Chelsea Physic Garden is the city’s oldest botanical garden, established by apothecaries in the 17th century in order to cultivate plants for medicinal purposes. Occupying four acres on the banks of the Thames, the garden offers visitors the chance to explore its historic glasshouses, discover its diverse collection of over 4,500 plants or simply relax in a verdant setting that still feels like a well-kept secret in the heart of London.
The Royal Court in Sloane Square is one of the most important spaces in contemporary British theatre and has seen the premieres of some of the most famous plays in theatrical history, including Look Back in Anger by John Osborne, Not I by Samuel Beckett and Jerusalem by Jez Butterworth. Today it still buzzes with a mixed crowd of young drama enthusiasts and well-heeled locals hoping to catch a glimpse of an A-list actor or two in the bar after the show.
The Saatchi Gallery on Duke of York’s Square was established by the esteemed art collector Charles Saatchi in 1985 and moved to Chelsea in 2003. The gallery’s mission is to draw people’s attention to the new artists who could be the Damien Hirst of tomorrow – combined with its significant financial clout, this philosophy produces some of the most exciting and innovative contemporary art shows of today.
“A wave of confidence has flowed through the Chelsea sales market this year…with more US buyers than ever before”
Shopping
From high-end fashion to high street staples,Chelsea really does have it all when it comes to retail. Its various upscale shopping districts are lined with elegant restaurants and chic cafes, making them an ideal place to while away a few leisurely hours.
Kings Road offers an eclectic mix of European fashion brands like Claudie Pierlot and Bimba y Lola, British classics like Jigsaw and Brora and more independent boutiques towards World’s End. The inclusion of reliable basics like Boots and Gap make this a useful high street for locals as well as destination shoppers. At its eastern end one finds the department store Peter Jones, which has traded from this site for over 100years, and a new development at Duke of York’s Square is home to modern British brands like Whistles and All Saints. And for the ultimate luxury shopping experience, wander north up Sloane Street, which is home to premium jewellery and fashion designers like Cartier, Tiffany & Co, Smythson and Anya Hindmarch.
Slightly further off the beaten track isSydney Street, which runs down towards Fulham Road. The Chelsea Farmers Market is a delightful spot for browsing artisanal goods, rare books and gourmet treats, centred on a beautiful courtyard that is perfect for outdoor dining in the summer. The Chelsea Gardener is a botanical paradise that boasts a wonderful array of plants, flowers and outdoor decor, while Bourbon Hanby Arcade offers a stunning selection of antique fine jewellery.
Pamper and exercise
Chelsea is home to the Harbour Club, one of the first luxury health and fitness clubs in the city and once a firm favourite of Princess Diana’s. The club boasts 2 swimming pools, 13 tennis courts and areal tennis court, as well as luxurious spa facilities, stylish lounges and even an on-site dry cleaners. Expert instructors deliver a bespoke programme ofHIIT and strength and conditioning classes in the club’s impeccably appointed studios – members work up a sweat, then relax with a facial, massage or haircut, before hitting the club lounge for a bite to eat and a spot of discreet people-watching.
If you don’t fancy the commitment of a membership, there are plenty of classes and studios across Chelsea for the adhoc exerciser. Barrecore Chelsea combines ballet, yoga, and Pilates to create high-intensity, low-impact workouts that reshape and strengthen your entire body. KOBOX Chelsea offers high-intensity boxing training in a nightclub-inspired environment, perfect for boxing beginners looking to sculpt their bodies and unleash their inner fighters. There are also branches of all the best exercise franchises like Barrys Bootcamp, Psycle and Tri Yoga.
There are several world-class hair salons inChelsea, including that of the award-winning royal and celebrity hairdresserRichard Ward. His huge eponymous Sloane Square salon caters to over 1,200clients a week, including an impressive roster of A-list stars. And Hari’s on the Kings Road is a London institution, particularly renowned for its dip-dye and balayage techniques.
Dine
Dining in Chelsea is a reassuringly expensive pursuit, but those with deep pockets are rewarded with beautiful interiors, excellent food and impeccable service. Daphne’s on Draycott Avenue is one ofLondon’s most beloved restaurants, serving smart Italian food to well-heeled regulars since 1964. The best tables are in the conservatory, an airy space with an open fireplace, lush greenery and a striking tiled floor. The Campaner, set within the sleekly redeveloped Chelsea Barracks, has swiftly established itself as one of the capital’s buzziest new openings. The breathtaking interiors are designed by architect Ben Pentreath and the menu is a masterclass in contemporary Spanish cookery. And for traditional British fare, The CadoganArms offers a bold and hearty menu of takes on the classics – think beef andGuinness pie with clotted-cream mash and ham, egg and chips with spiced pineapple ketchup.