The drawing room

One of the grandest residences in London has been created out of the former head offices of a British institution. Samantha Welsh takes a look around and imagines a future inspired by the past

You stroll along your 30 metre long, south facing terrace balcony, lined with Ionic columns. Your view extends from the House of Lords to your left, the River Thames in the middle, M15 and Lambeth Palace, the London residence of the Archbishop of Canterbury, across to the right. Directly below spread the waterside gardens of the Palace of Westminster. You sit back and enjoy a glass of champagne and look forward to the grand reception gala you are going to host ‘at home’ next weekend.

Views from the terrace at night

Your home is in the heart of Westminster, London, but it is not created from a dusty terraced house with a view just across the street, and nor is it a unit in a shiny new glass building. Your London base is the former headquarters of Imperial Chemical Industries, the largest manufacturer in UK at the time when Britain had an empire, and the Residence comprises its board room, executive offices and more.

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Grandeur and power ooze from every centimetre – or should that be every inch – of the 5.5 metre ceilinged, 970 square metre, 4-bedroom 5-bathroom penthouse atop this trophy building, whose colonnaded terrace offers a view of every ship passing down the Thames.

The kitchen

The heritage features of this Grade II listed building have been restored while enhancing volume and light through a palette of contemporary greens and blues. Architect-designers Goddard Littlefair conserved door frames, panelling, plastering, introduced flooring in oak parquet, black and white marble tiling, bespoked light installations, carpeting, rugs, velvet and silk furnishings, and sourced objets.

A bedroom

The double height reception salon, with its grand piano, feels as if it should have David Niven and Cary Grant singing a duet – what a marvellous thought – while Ava Gardner and the young Joan Collins dance tipsily with their coupes de champagne.

Read more: A tasting of Bond, California’s new luxury wine

A secret directors’ bar and games room was discovered under the eaves and reimagined as an inner sanctum, while a subterranean suite of services includes 24/7 golden key-style concierge, gym and fitness, the GL-designed lap pool, spa, cinema, and parking.

The dining room

LUX held a soirée here, celebrating the work of renowned British artist Petroc Sesti, who exhibited at the Royal Academy summer show this year. His work was on display in The Conrad. Our guests didn’t want to leave. And if you don’t want to leave, you don’t have to: the entire site will be delivered in 2023, The Conrad being the only residence that is completed and ready for occupation, fixtures and furnishings optional.

Residences starting from £18 million

Find out more: 9millbank.com

The OWO Whitehall, Residents’ Lounge. Image courtesy of Grain London

London’s hottest luxury residential area? Westminster, next to the Houses of Parliament and Downing Street. So what took it so long, asks Samantha Welsh

Big Ben, Downing Street, Whitehall, Parliament Square, Trafalgar Square: all names intimately associated with London, and now the administrative and touristic heart of the world’s high net worth capital. The area, broadly known as Westminster, is (pandemic excepted) the epicentre of tourism in Britain.

The OWO Whitehall, principal bedroom. Image courtesy of Grain London

And now you can live in high style down the road from the Prime Minister and the royals, with the creation of one of the most opulent residential developments in the world, inside the heart of the area’s grand buildings.

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The Old War Office (OWO), in Whitehall – opposite Horse Guards Parade and almost directly opposite Downing Street, and so near to the Prime Minister’s residence that you could shout from rooftop to rooftop to see if you could borrow some milk (or champagne for a lockdown party) – has been transformed into 85 apartments.

The OWO residence turret. Image courtesy of Grain London

They are serviced by Raffles, the appropriately peripatetic luxury hotel brand now owned by the French Accor group. A new Raffles hotel, London’s first, is opening next-door and residents will have a full suite of luxury services. The building’s redevelopment has been done with thought: the best of British material and design, along with other high-end touches, like bespoke appliances by the German manufacturer Gaggenau.

Read more: Maryam Eisler On Tim Yip’s ‘Love Infinity’

Residents will have priority access to 11 restaurants and 3,000sqm of leisure facilities, gardens and terraces. The building’s heritage has been conserved in partnership with Historic England, with design overseen by Thierry Despont. As an OWO resident your local chiming clock is Big Ben.

The OWO residence entrance hall. Image courtesy of Grain London

This is the building from which Winston Churchill directed efforts in the Second World War of what was then the British Empire. The apartments now are suitably imperial, but have a contemporary smoothness. On your Sunday morning strolls in St James’ Park (assuming you haven’t decamped to your weekend home in the Cotswolds or Ramatuelle) you will bump into the Prime Minister, and numerous spies – the important ones are there on Sundays. Arguably the best school in the world, Westminster, is along the road. And if you need to lobby the government, you can just lean out of the window, while puffing on your Romeo y Julieta and sipping a glass of Pol Roger, Winston Churchill-style.

Find out more: theowo.london

This article appears in the Summer 2022 issue of LUX

Four Seasons Private Residences New Orleans

Four Seasons is not only world renowned for its luxurious hotels but also its private residences. Here, LUX speaks to Paul White, President of Four Seasons Private Residences about the success and growth of the brand

Paul White, President Four Seasons Private Residences

1. For the high net worth individual, what makes a Four Seasons Private Residence singularly attractive over a standalone home?

The goal of our residential strategy is to extend the Four Seasons lifestyle experience, creating the very best homes in the world – in the best locations, of the highest quality, and accompanied by Four Seasons legendary service. We are a “people powered brand” so this service is a fundamental part of our residential offering.

Alongside our renowned service offering, residents can enjoy the best of both worlds with exclusive and private homes that provide hotel-inspired amenities that they have come to love when staying with Four Seasons around the world. These amenities include incredible communal areas, private amenities and spacious lobbies and social areas.

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A major benefit to homeowners is that Four Seasons acts as the property managers of every residential property in our portfolio – we do not outsource to third parties like some other brands. If owners are only spending a portion of their time in-residence, they can trust that Four Seasons is on the ground and will care for and maintain their asset while they are away. This also safeguards their investment for the future.

2. Unlike unbranded residences, Four Seasons have a premium on trust and credibility in the luxury real estate sector. How has this buttressed the growing consumer desire for security and peace of mind amid the instability of the past year?

During the pandemic and as our industry looks forward to recovery, the trust and confidence in the Four Seasons brand, paired with our legendary service, is what residents are looking for and what is most appealing to prospective buyers. Especially in a lockdown scenario, they have all they need within the Four Seasons experience they know and trust.

During the height of the pandemic, more and more of our residents stayed in place in their Four Seasons home, a testament to the comfort, confidence and peace of mind they feel in the asset and in our service. Additionally, with guidance from internationally recognized experts, Four Seasons also developed Lead With Care, our enhanced global health and safety program focused on providing care, confidence and comfort to all guests, employees and residents within the new COVID-19 environment.

The use of technology to offer contactless service has become even more important in light of COVID-19, which is why we extended the award-winning Four Seasons App and Chat platforms to create a digital experience for our residents, accessible through their phones, tablets, or computers. The residential digital experience allows residents to further customise their residential lifestyle experience, including securely managing and maintaining their home, connecting with their designated Four Seasons team members, and requesting services with ease and convenience.

Four Seasons Private Residences Dubai

3. Owing to the phenomenal success of Four Seasons Private Residences, the brand is expecting to double its portfolio. How do you sustain its reputation for uniqueness and curation while pursuing growth on a global scale?

Our formula is to blend high profile real estate with the concept of lifestyle, to create the ultimate in luxury living for discerning homeowners who are in the market to purchase an amenity-rich and serviced residence or vacation home. Whether you live with us or vacation with us, a Four Seasons residential experience marries the world’s finest real estate and personalised, integrated service.

Our focus with both hotels and residences has always been to offer a world-class product in the best locations. We seek developers who can help us achieve this, and whose goals for offering the highest quality of location, architectural stature, interior design and amenities are aligned with ours. Our partners are equally as committed to excellence, and choose Four Seasons to deliver exceptional personalised service to residence owners.

As a brand, our residential offering is not new, but an important and growing part of our business. We have been a leader in branded residential since 1985, when the company opened its first private residences in Boston. Today, we operate 46 Private Residences globally, designed and built to Four Seasons standards in both global urban centers and gateway cities, as well as resort destinations.

4. Four Seasons branded residences have been around since 1985. Has there been a shift in the type of clientele since then?

Branded residential offerings are well suited to meet the changing needs of today’s buyer, not only by offering spacious, beautifully designed homes, but through the trust and strength of the brand and knowing that you and your home will be cared for.

Four Seasons buyers are not only looking for luxury and prestige – but also security, peace of mind and privacy – and are prepared to pay premium prices for a brand that goes above and beyond to deliver in these areas. A Four Seasons Private Residence make the perfect investment choice for both local and internationally mobile buyers, giving clients the opportunity to buy into a home with a globally recognised, reputable brand with both cache and credibility. As a result of the pandemic, we have also seen the lines blur around first, second, third homes. With the ability to work from anywhere, residents are using their homes differently than they have before.

Four Seasons Private Residences. 20 Grosvenor Square

5. The private residences’ clientele ranges from full- and part-time occupants to those looking solely for an investment property. How do you cater to these various needs while maintaining an overall sense of cohesion and community?

The Four Seasons buyer profile varies from market to market – Four Seasons trends indicate that buyers are local who know the market and brand. There are also many UHNW buyers with an affinity to the Four Seasons, an affinity for a given location, and who are pre-disposed to buying real estate for personal use and enjoyment and/or as an investment.

While we are dedicated to upholding our brand standards, we recognise that the best real estate in the world is a genuine reflection of its locale. Each Four Seasons property is reflective of the unique culture, history and aesthetic of the destination in which it sits. We work closely with our designers and developers to understand the buyer profile in each location and optimise the design and amenities accordingly to meet the unique needs of the luxury consumer in that market and connect them more deeply with the local environment.

Read more: Luxury Travel Views: Four Seasons Grand-Hôtel du Cap-Ferrat, Côte d’Azur

6. You are in the midst of growing your portfolio of standalone residences, with projects in London, Los Angeles, Marrakech and San Francisco. Tell us more about the process involved in these projects, and what differentiates them from other residences in the brand’s portfolio.

As a brand, Four Seasons is strategic and deliberate with the markets we choose to operate in. These standalone residential projects are unique in that they exist separately from hotels and resorts. They are a distinct yet complementary Four Seasons living experience, and in many global gateway markets we offer both standalone residential projects as well as residences that are connected to a hotel.

As we continue our robust residential expansion, our focus is on offering Four Seasons Private Residences in key destinations where our residents want to live, looking at the latest buying trends and understanding their residents and their needs. Our biggest differentiator is our service and this has always been driven by our people. It is our teams on the ground, led by a dedicated Director of Residences, who bring the Four Seasons experience to life, delivering the genuine, personalised service that defines our brand the world over.

Find out more: fourseasons.com

The OWO by Raffles, Whitehall, London

Jeff Tisdall

The Old War Office was the centre of operations for the UK war effort. Three quarters of a century later, The OWO has once again become a focal point, but this time as one of the leading hotels and branded residences in Central London. Ahead of the hotel’s opening next year, Samantha Welsh speaks to Jeff Tisdall, Senior Vice President of Development, Residential & Extended Stays at Accor, about Raffles’ first London-based project

1. How significant is Raffles’ arrival in the UK and London?

It is difficult to underestimate the importance of Raffles’ arrival in London. Really, there is an argument that this is the most important milestone in the evolution of the brand since the opening of Raffles Singapore back in 1887. Raffles Singapore takes its name from the British statesperson Sir Stamford Raffles, founder of the modern city-state. It has been setting the standard for luxury hospitality for more than 130 years, introducing the world to the concept of private butlers. There is something very fitting and meaningful about bringing the brand back to the UK as part of this extraordinary development.

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2. Why does The OWO standout in the London super prime market?

The OWO has really set itself apart in London’s resilient, super prime residential market. Over the last decade, branded residences have really come into their own and often dominate the very highest end of leading property markets around the globe. In this market context, The OWO Residences stands out as a one-of-kind opportunity. The dedicated Raffles team will deliver an unmatched service offering. We spent a lot of time during an extensive planning phase, curating the offering and designing an unrivalled set of private facilities that are exclusive to residents.Without question, this will be an extraordinary address to call home.

The dining room at The OWO. Image courtesy of Grain London

3. Have you seen as much branded residential development in London as has been observed in other super prime markets?

I think it is fair to say opportunities to develop luxury branded residences have been more constrained in markets like London, where we see greater reliance on historical conversions. The integration of the hotel and residences at The OWO ensures an array of services will be available to residents, with an internal courtyard that provides the residences with some physical separation from the hotel. It is this perfect balance between service on one hand, and privacy, exclusivity and security on the other, that is often so elusive, and perfectly achieved at The OWO.

Read more: Pioneering Artist Michael Craig Martin on Colour & Style

4. How does The OWO compare in scale to other Raffles residences?

Each Raffles Residence project forms part of a global portfolio of extraordinary private homes – all meticulously designed, luxuriously appointed, and of course infused by Raffles legendary passion for service. Yet, each project is entirely unique.

In terms of scale at The OWO, our partner, the Hinduja Group, has taken the private amenities available to a new level of luxury. Residence owners will have access to an extremely generous 30,000 square feet of exclusive residential facilities. Of course, The OWO will also be a culinary destination, featuring nine restaurants and bars.

Principal bedroom at The OWO. Image courtesy of Grain London

5. Why have branded residences become so appealing post pandemics?

For many, the pandemic has served to help bring what is important in life back into clearer focus. The fact that for purchasers at The OWO, their homes will be serviced by Raffles, a brand with experience and trust accumulated over more than 130 years, brings tremendous peace of mind. Today’s UHNW buyer is also looking for authentic, meaningful luxury. From a service perspective, we focus on what we describe as emotional luxury. How we make a resident feel is every bit as important as the services we deliver. From a dedicated concierge team to fitness and wellness attendants, dog walking and sommelier services, private chefs and legendary Raffles Butler services, there really is no detail overlooked.

6. What benefits do residents of The OWO receive?

The Residence Director leads a dedicated residential team of 25-30 people. This team is focussed solely on The OWO residents. In-residence dining, catering for private events, spa treatments and housekeeping are just a few of the optional a la carte services that can be arranged. Homeowners will also be embraced as VVIPs at Raffles London, enjoying priority reservation privileges at dining venues and preferred pricing. The effect is to create a sense of belonging, recognition, and privilege. Additionally, through the Raffles Owner’s Club, this preferred status is extended beyond The OWO to 5000+ participating hotels and resorts worldwide, and more than 40 brand portfolios.

Find out more: theowo.london

Andermatt’s newest apartment building Altera features twelve luxury residences

Andermatt Swiss Alps is the hottest destination in Switzerland right now. The sustainable ski/golf/mountain living resort in the mountains in the centre of the country achieved record property sales last year and that’s set to increase with the recent launch of two more luxury apartment buildings. Buy while you can…

A recently published report revealed that Andermatt Swiss Alps made a total of CHF 76.9 million in 2020 from its property sales, an increase of approximately 25% from 2019 and the highest figure in the resort’s history.

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While the pandemic continues to have devastating impacts on global tourism, the demand for Andermatt’s luxury alpine residential properties has continued to rise. The majority of apartments in the Frame and Alma buildings, which launched in the summer of 2020, were sold out within several weeks, and there are only a few residences left in the resort’s newest buildings, Koya and Altera, which launched in March.

The open-plan living room in one Altera’s apartments

The interest is partly due to the rare investment opportunity (it’s difficult for foreigners to be able to buy apartments Switzerland), but also thanks to the resort’s development as a thriving year-round destination.

Read more: Tasting with sustainable Napa wine producer Beth Novak Milliken

Since the start of the project in 2007, a total of more than CHF 1.2 billion has been invested to transform what was once a sleepy ski village into one of the most exclusive and dynamic alpine resorts. It’s part of central Switzerland’s largest linked ski area which offers high-altitude cycling and hiking routes in the summer, and home to luxury hotels such as The Chedi Andermatt as well as slope-side Michelin-starred restaurants.

The interiors of Koya’s apartments are inspired by Japanese design

Andermatt’s latest residences

Located in the village’s car-free area known as Andermatt Reuss, Koya and Altera each offer a distinct atmosphere complete with sophisticated design details and luxurious owner amenities.

Koya’s stylish, Japanese-inspired, mezzanine-style apartments are already sold out, but Altera offers twelve, equally beautiful residences for contemporary Alpine living. Each room has been carefully designed to maximise natural light and highlight the staggering views of the surrounding mountains through tall, floor to ceiling windows. The building also features a communal ski room, residents’ lounge with an open fire, a spin studio, sauna, and relaxation area.

For more information, visit: andermatt-swissalps.ch

Ali Behnam-Bakhtiar. Image by Marko Delbello Ocepek.

Iranian-born designer Ali Behnam-Bakhtiar does it all – interiors, architectural design, weddings. Whether large-scale events or private homes, a converted airplane or a château, he runs the gamut from extravagant to minimal with equal flair and imagination, bringing his clients’ stories to life. Torri Mundell reports

Architectural designer Ali Behnam-Bakhtiar is a man on the move. Since 2003, his striking design projects have made their mark on coastlines, private islands, mountainsides and city streets in Europe, Asia and the Gulf, while his events company operates from Dubai, London, Paris and Monaco. The spaces he conceives, from the cargo plane he transformed into an airborne apartment to a spectacular eco-friendly château in Provence and a refurbished 150-metre yacht extended with landscaped green spaces, are equally dynamic. “I think of spaces and events like personal books,” he says. “They are stories that we experience through an introduction, a body and a grande finale.”

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Though Behnam-Bakhtiar claims not to have a signature style, the emphasis on experiencing a space – rather than simply passing through it – is an essential part of his aesthetic. “To create this kind of extra dimension, I am very detail orientated. I study the space carefully, I envision the memories that can be created and I focus on the senses that can be discovered.”

Behnam-Bakhtiar’s floral design for a wedding in Ljubljana, Slovenia. Copyright and courtesy Ali Bakhtiar Designs

Ali Bakhtiar Interiors clients do not commission him to create something they have already seen somewhere else. “Everything I do is one of a kind,” he says. “I don’t hold on to what I have done or what has been done.” Conceiving wholly original designs for every project can be hard work, he admits, but it means that he never caves in to “the dullness of repetition.” Instead, each project is always “a learning process that definitely keeps me challenged and excited.”

Read more: Meet the marine biologist pioneering coral conservation

Behnam-Bakhtiar’s curiosity, extensive research and the relationships he fosters with his clients to “deeply understand their values, wants and needs” all feed into his vision for a project. Every aspect of design is thoughtfully considered to create a harmonious whole, but his spaces are also full of daring, unexpected moments. Consider the château he restored in Provence: he preserved the historic façade and added a self-sustainable modern basement, a pond that irrigates the rest of the estate and a formal dining room with a glass floor that overlooks a garden lavishly planted with lotus flowers. “I believe it is important to embrace modernity as much as ancient knowledge, because something might look cool and new but it also needs to age well,” says the designer about his blend of the traditional and contemporary.

A 2019 house on Saint-Jean-Cap-Ferrat designed with glass walls to make the surrounding forest part of the interior. Copyright and courtesy Ali Bakhtiar Designs

Though the scale of the properties he designs can be vast, Behnam-Bakhtiar imbues his spaces with personal elements as well. “Generally, my favourite events or interior projects are the ones in which I deeply connect with my client, because this is what inspires me to go beyond expectation, and create something ‘out of this world’, a visualisation of their dreams and more.” In the château, for instance, each of the 34 suites was decorated to represent places or moments in time that are meaningful to the owner.

Creating a blueprint that encompasses both grand design moments and personal detail requires a nuanced approach. “Architecture to me is about conserving memory; creating spaces that host our lives but remain in existence beyond it,” Behnam-Bakhtiar continues. “Unlike events, architecture has permanence and so you are not just working on one experience in time, you are working on a timeless structure that impacts repeatedly. I believe architecture, landscaping and interior design need to merge to bring true and lasting harmony.”

He takes his cues from the outdoors to create this harmony. “I used to design houses that stood out from nature,” he remembers. “I now create ones that integrate with nature. The house becomes engulfed by the landscape rather than being simply set in it.” This approach also chimes with the current drive for sustainability. “Much more than ever, we now see nature as something that needs to be integrated in interiors and architecture. Rather than fighting the rules of nature or working against it, which we have done for so long, we are finally starting to see the incredible benefits of an alliance.”

A 2018 house design in Florida with a characteristic Behnam-Bakhtiar blending of natural and built environments. Copyright and courtesy Ali Bakhtiar Designs

The “green and self-sustainable” glass house he designed for a client on a private island epitomises how this can work. In building the residence from scratch, Behnam-Bakhtiar gave it a “system that transmits and observes energy” along with an ultra-modern, sleek exterior and sumptuous Art Deco furnishings.

Read more: American artist Rashid Johnson on searching for autonomy

Similarly, on a property refurbishment in the French Pyrénées, Behnam-Bakhtiar preserved the ancient rocks that predated the house by encasing them in glass boxes and installing a “hydraulic system to make the house ‘convertible’; completely open towards the seascape, on multiple levels. We also created several distinct courtyards and fountains, to give the landscape exciting layers.”

A render of an island house off the coast in Abu Dhabi, with an Art Deco inspired interior in contrast to the building’s ultra-modern minimalist exterior. Copyright and courtesy Ali Bakhtiar Designs

Born in Tehran, Ali Behnam-Bakhtiar was still a child when he moved with his family to Paris after the Iranian Revolution in 1979. He grew up surrounded by art and culture and his parents indulged his drive to “redecorate their interiors on a weekly basis”. Even so, he says, “it was very much a conscious adult decision to develop my creativity professionally.”

His early memories from Iran, particularly before the revolution, “in which large-scale events and gatherings were considered normal” may have informed Behnam-Bakhtiar’s other hugely successful business: event planning. Orchestrating large-scale, fantasy weddings, celebrations and parties is a complementary discipline to his design work but he came upon it entirely by chance. “I was working on the interior design of a palace for a client of mine, whose daughter was in the midst of planning her wedding. Completely uninspired by the process, she had sort of given up on her dream wedding until she coincidentally saw my plans for their winter garden. In love with the plans for the garden, she convinced me to design her large-scale royal-like wedding for 2,500 guests.”

A reception that took place in Hall of Mirrors at the Palace of Versailles. Copyright and courtesy Ali Bakhtiar Designs

Behnam-Bakhtiar’s ability to imagine multidimensional, immersive spaces works as well for one-off events as it does permanent buildings, and working across the two disciplines allows for a beneficial cross-pollination of ideas. “I mix architecture and interior design with event planning, and do things that have never been seen or done before. This has allowed me to evolve and remain modern. I embrace the future and the process of change and growth.” In 2019, Ali Bakhtiar Designs was named “best wedding planner in the Middle East” at the Destination Wedding Planners ACE awards, and in the same year the company won an honorary award at the Influencer Awards Monaco.

As with his architectural designs, the events he designs are inspired by their setting. “The location and not the budget is what creates the possibilities,” he says. What would he conjure up for a wedding at a castle with an unlimited budget? “I’d probably create a sunset moment, curate different areas so there is movement and a multi-layered experience of the castle. I would also do something with the façade, so the guests can view it differently throughout the evening.”

Read more: Why the market for modern classic Ferraris is hot right now

He is delighted to be commissioned for wedding and parties abroad. “Like creating a world from scratch, the entire infrastructure is purposefully built and specifically curated for the event, in the middle of nowhere.” The possibilities are endless, he points out, describing a beautiful event he planned on “a private island lit by 50,000 candles. The guests arrived by raft laid with beautiful flowers and in the middle of the island, we created a pond and fountain on which the gala’s dinner tables floated.” More unusually, Behnam-Bakhtiar also oversaw a divorce party on a cruise ship.

As with his design projects, Behnam-Bakhtiar and his team ensure they have oversight of every detail. “The design of the food, the uniforms, the bar; anything that has to do with the visuals, the service, the presentation… To me an event is never just about decoration, it is about continuous implementation; everything needs to run smoothly and as we visualised it.”

An impression of flower-covered columns for a wedding at the Basilica della Santissima Annunziata in Florence, January 2020. Copyright and courtesy Ali Bakhtiar Designs

A rendered image of a tunnel of flowers for a wedding in Cape Town, 2020. Copyright and courtesy Ali Bakhtiar Designs

With high-profile architectural and interior design clients and starry party guest lists, discretion is part of the Ali Bakhtiar Design service. He will not be drawn on the high profile personalities that have commissioned him. “We work with a lot of different people including celebrities and royalty, but under no circumstances do we share our clients’ names, whether we signed confidentiality agreements or not. We pride ourselves on being private.”

Word, however, is out – partly because of the design company’s huge international reach. “We go where our clients are, so it was only natural to expand,” Behnam-Bakhtiar explains of his company’s outposts in Dubai, London, Paris and Monaco. The company does not promote its productions but exposure has come nonetheless through guests’ photos on social media. And who can blame them? The vast hall filled with reflective ponds and dancing LED lights for a party in Shanghai and the arcade of pink roses for a church wedding in St Barts demanded a selfie. “Much of the current exposure of our work is not just because we have expanded but also because it is shared,” Behnam-Bakhtiar agrees.

A digital impression of a 2019 building design in Switzerland that brings nature into the heart of the home. Copyright and courtesy Ali Bakhtiar Designs

Like the architectural design industry, the events business is also becoming more mindful about expenditure. “I would like to see more consciousness around long-term trust and a sustainable use of funds,” Behnam-Bakhtiar asserts. “Rather than creating an event for the budget and exhausting funds, we now look at what we need for the event. This means we spend less on unnecessary things, so that these funds can be used elsewhere or go to charity.”

Behnam-Bakhtiar’s diligence is even more relevant in a post-Covid era. “Events of up to 7,000 people are postponed for at least a year,” he says, “but the smaller events are starting to take place now, in a more down-sized manner. We’re on stand-by, like the rest of the world.” With his vivid imagination, a roster of international clients and almost two decades of experience, he won’t be standing by for long.

Find out more: alibakhtiardesigns.com

This article features in the Autumn Issue, which will be published later this month.

Knight Frank launched its 2020 Wealth Report at Chelsea Barracks, a new luxury residential development in Belgravia, London

Last week saw the official launch of the 13th edition of Knight Frank’s Wealth Report at Chelsea Barracks in Belgravia, London with a new focus on on data relating specifically to ultra-high net worth individuals, providing invaluable insight for investors and those seeking to buy new homes. Here’s what you need to know

Wealth is increasing on a global scale

Despite geopolitical uncertainty, the global number of ultra-high net worth individuals (UHNWIs) is still growing and is expected to rise by 27% over the next five years, taking the total to an estimated 649,331.

The US still dominates with the largest UHNWI population (240,575), followed by China (61,600), Germany (23,000), France (18,800), Japan (17,000) and the UK (14,400). India has the fastest growing UHNWI population with an estimated 73% rise over the next five years.

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New York wins for lifestyle

The report assesses 100 cities based on their global appeal as a place to invest, live and spend time. This year, New York came top, pushing London into second place followed by Paris, Hong Kong and Los Angeles.

Wellbeing is a new priority

According to The Wealth Report Attitudes Survey, 80% of UHNWIs are dedicating more time and money into their wellbeing. There is also a growing focus on wellness as a measure of national performance with Oslo in first place followed by Zurich and Helsinki tied in second place.

And so is sustainability

This year’s report discusses the impact of luxury travel on the environment, featuring insights from William Mathieson, Intelligence Director of The Superyacht Group and Thomas Flohr, Founder and Chairman of Vistajet into how their businesses are becoming more sustainable.

Read more: Darius Sanai’s Luxury Travel Views Spring 2020

Residential trends are changing

The report also includes the latest results from the Prime International Residential Index (PIRI), which places Frankfurt at the top of the second homes market, followed by Lisbon, Taipei, Seoul and Houston.

Lord Andrew Hay, the Global Head of Residential at Knight Frank, presenting data at the launch of this year’s Wealth Report

10 neighbourhoods to watch according to Knight Frank’s property experts:

1. Road to Amizmiz, Marrakech, Morocco
2. Fengtai, Beijing, China
3. Sentosa, Singapore
4. Sydney Harbour, Australia
5. St Martin-de-Belleville, The French Alps, France
6. SoPo, Berlin, Germany
7. Mahou-Calderón, Madrid, Spain
8. Maida Vale, London, UK
9. Museum District, Houston, US
10. Imperial Beach, San Diego, US

To view the full wealth report visit: knightfrank.co.uk

Restoring the Garrison Chapel

The Garrison Chapel was constructed in 1859, and functioned as an active church for 150 years before it was deconsecrated. In 2018, after an extensive refurbishment supported by the Chelsea Barracks Chapel Trust, the building was reopened as a community arts and culture space.

Watch the below video to learn more about the project:

Chelsea Barracks – The Garrison Chapel from Chelsea Barracks, London SW1 on Vimeo.

For more information on Chelsea Barracks visit: chelseabarracks.com

Grevillia is a waterfront residence on the port of Saint-Jean-Cap-Ferrat, on the market for €56m

Lord Andrew Hay. Image by John Wright

Lord Andrew Hay is Global Head of Residential at Knight Frank, the international real estate consultancy, and has built up property portfolios for some of the wealthiest people in the world. In this regular column, he is handed a theoretical sum of money by LUX and asked how he would invest it. This month, we asked Lord Hay where he would buy if he had £50m to spend on a single home

“If you had £50m to spend and could buy a property anywhere in the world – where would you choose?” It sounds like a question you’d ask your friends at a dinner party and actually is something I get asked quite regularly. My answer often changes as there are so many places around the world where I’d love to live, but having just returned from my summer holiday and with the thought of sunshine and the Mediterranean fresh in my mind along with this healthy budget, I would have to choose Saint-Jean-Cap-Ferrat on the French Riviera.

Cap Ferrat is glamorous yet unspoilt. It has been a firm favourite of aristocracy and Hollywood celebrities over the years and is arguably one of the most exclusive addresses in Europe. It is easily located between Monaco and Nice, accessible both by car and helicopter making it a huge draw for wealthy clients looking for a second or third home and is somewhere they go to escape.

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As we describe in the latest Knight Frank Prime France Report, the 1.3km forested peninsula is home to around 500 spacious villas on large plots and has one of the strongest international buyer profiles on the French Riviera. The Eastern side is home to the best beaches, the Port and the old town, it offers the widest array of amenities, whilst the west has a steeper coastline and good views. There are two Michelin-starred restaurants – La Voile d’Or and Le Cap and the small marina has around 560 berths.

Contemporary interiors of luxury villa Grevillia

When a client arrives on Cap Ferrat, they always ask for homes with direct access to the sea and that’s what I would look for. And, with Knight Frank recently opening its sixth office along the Cote d’Azur in Cap Ferrat, and its 22nd office in France, my team would be primed to help me.

Two properties in particular stand out to me. The first being Grevillia, on the market for €56m. This is an exceptional, waterfront residence on the port of Saint-Jean-Cap-Ferrat. It is a beautiful modern estate, comprising a principal villa, a secondary villa and a guest house – ideal for someone like me with a large family and friends who regularly join us on holiday.

Villa Neo is built into the hillside above the bay of Villefranche-sur-Mer, on the market at €15m.

The second is Villa Neo, on the market at €15m. Significantly under my €50m budget but it is a perfectly presented villa, built into the steep hillside above the bay of Villefranche-sur-Mer and provides idyllic Riviera scenery. The villa’s wide terrace, infinity pool and principal rooms face the Mediterranean Sea so by day the small sail boats moored in the azure water provide a languid but ever-changing picture while after dark, the lights of the peninsula gently sparkle against the night sky.

Read more: Louis Roederer International Wine Writers’ Awards 2019

Property prices on Cap-Ferrat range from €2,000,000 to over €200,000,000 with the most active band between €5,000,000 and €10,000,000. Prime property prices have increased by 4 per cent in the year to 2018 but this is a most extraordinary market, one that resonates far and wide with international buyers and also those based in Monaco looking for a nearby escape with a slower pace of life. The unique homes on glorious Saint-Jean-Cap-Ferrat make the market anything but predictable.

Cap Ferrat not only has a timeless quality which my wife Claire, being half-French, would adore, but it also has one of the broadest international buyer profiles of all the markets on the French Riviera. This helps protect owners’ exit strategies by ensuring the market isn’t dependent on the economic fortunes or currency shifts of one particular buyer nationality.

Find out more: knightfrank.co.uk

Italy retains its place as one of the most desirable second home destinations in the world, says Andrew Hay. This property, Le Bandite is located in Umbria with easy access to Rome

Lord Andrew Hay

Lord Andrew Hay is Global Head of Residential at Knight Frank, the international real estate consultancy, and has built up property portfolios for some of the wealthiest people in the world. In a new regular column, he is handed a theoretical sum of money by LUX and asked how he would invest it. We kick off by handing Lord Hay £100m and requesting a global residential property investment portfolio

When LUX’s Editor-in-Chief generously offered me the opportunity to “invest” £100m into property, I was unsurprisingly delighted to accept. I have had free rein on where and what I buy, but have decided to invest with both my head and my heart. The reason being – I want to enjoy the properties I purchase but also have a clear focus on investment returns.

With this in mind, I have divided my allocation into equal thirds, between high-end luxury residential property, residential investments with a focus on capital growth and rental returns and investment into student property and senior living. The final 10% I would invest into an agricultural portfolio.

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I have to start in London. Often the best investment strategy involves an understanding of which markets are the least fashionable at the moment – and with Brexit and tax hikes London has been underperforming in recent years.

With few London neighbourhoods having a global brand as strong as Chelsea’s, I firmly believe that Chelsea is the perfect example of an area that has been underperforming and which is now ripe for reassessment.

Prices here have fallen 20% since late 2014, compared with a 12% fall across the wider prime London market. While new-build property in this category achieves a premium, established property trades at between £1,200 and £1,800 per sq ft. With many properties now edging below £1,000 per sq ft, Chelsea is back in the spotlight and cheaper than some less central and glamorous neighbourhoods.

Interiors of a luxurious villa residence overlooking Lake Como

Yes, the area still lacks the connectivity of other prime neighbourhoods. However, with easy access to the river, unrivalled shopping on the King’s Road and Fulham Road and some of London’s best schools within walking distance – including the Lycée Charles de Gaulle and the London Oratory School – and the promise (or maybe hope) of a station on the future Crossrail 2 underground railway, Chelsea is set for rediscovery.

The next place I would invest is the other side of the world: New Zealand. New flights and rapidly increasing connectivity to Asia means the country is increasingly becoming a go-to destination. Auckland is the logical entry point and investment destination. One location in particular stands out to me – home to the 2021 America’s Cup, Wynyard Quarter is changing fast. Over the past decade, this waterfront precinct, once the heart of Auckland’s marine and petrochemical industries, has emerged as a major hub for national and international corporates, including Fonterra, Datacom, Microsoft and ASB Bank, as well as for the city’s innovation and co-working scenes.

Read more: Ruinart x Jonathan Anderson’s pop-up hotel in Notting Hill

Staying in Australasia, I have to include Sydney in my portfolio – a market that has seen a huge growth in investment over the past two decades from around the world. The city may be remote, but education has been a driving force in attracting Chinese purchasers. The one location I would target is One Barangaroo – Crown’s new development. One Barangaroo is one of the most beautiful developments in the world currently being built and is achieving record prices on the shores of Sydney Harbour overlooking the bridge and the Opera House. It has brought a new global standard of facilities and services to the city.

New York design firm Meyer Davis have crafted designed the interior layouts of residences at One Bangaroo

View down to the harbour from One Barangaroo, the latest residential development in Sydney

In Europe, Italy retains its place as one of the most desirable second home destinations in the world. The new flat tax initiative however has cast the country in a new light as a potential permanent base for the world’s wealthy. Italy is certainly worth a closer look. Property prices in many Italian prime markets declined 40% in peak-to-trough terms following the financial crisis, interest rates remain at record lows and the country is better connected than ever before.

In the US, the West Coast is of especial interest to me, the combination of lifestyle and economic dynamism here is unparalleled anywhere else in the world. One area which appeals to me is Pasadena. Home to the Rose Bowl stadium, NASA’s Jet Propulsion Laboratory and the California Institute of Technology, Pasadena offers an attractive combination of relative value compared with neighbouring communities in Beverly Hills and West Hollywood, and the desirable lifestyle and privacy that residents of Los Angeles seek. The neighbourhood is easily accessible, with a light rail line that puts it within 15-20 minutes of Downtown Los Angeles.

Read more: Kuwait’s ASCC launches visual arts programme in Venice

In terms of growth areas I would point to student accommodation and retirement. Student in particular is counter cyclical (i.e. typically more students in a recession). Participation in tertiary education globally is increasing – OECD predict 8 million internationally mobile students by 2025 (up from 5m today). Markets remain structurally undersupplied. In terms of where Sydney looks good it has a big student population and low pipeline due to shortage of development land. In terms of development, I like big European cities like Barcelona, Lisbon and Paris. European markets comprise with very little existing organised supply. Europe is new front for portfolio development, scale building and brand.

At the opposite end of the age scale is senior living where the market is undergoing rapid growth, underpinned by demographic shifts that are increasing demand for a wider array of specialist housing to suit the changing needs of older purchasers. London and the South East, Bristol and Edinburgh are key UK senior living markets. Globally, America, Canada and Australia are at the forefront of investment.

Finally I would invest in farmland. Choosing where to invest in agricultural land depends very much on your appetite for risk but the world faces both a water shortage and food shortage by 2040 and 2050 respectively and therefore, investors looking at long-term food security are well advised to invest in agricultural land. With the world’s fastest growing population, Africa offers some very exciting opportunities. Zambia, for example, provides a good balance of relative political stability and established infrastructure. The Asia-pacific region is seeing a huge growth in wealth and rain-fed farms on the east coast of Australia are well placed to take advantage of this market.

And, that’s my £100m invested.

Find out more: knightfrank.co.uk

Knight Frank’ Wealth Report directs ultra-high-net-worth individuals on where to invest in property and reflect $3 trillion of private client investment into real estate annually. The countries that have been most robust and performed best over the last decade have been those where there is a steady political and economic situation as well as transparent rule of law, high quality living and first class education. The above portfolio choice reflects this.

The beach at the Rosewood Baha Mar

Baha Mar is the latest and most prestigious resort to open in the Bahamas. With three leading hotel brands and all the residential lifestyle amenities you could wish for, you may be tempted to move there permanently, says Jenny Southan

Said to have the clearest sea water in the world, the 700-island archipelago of the Bahamas has long been a glittery bolthole for holidaymakers and expats looking for a luxurious paradise to make their home, even if only temporarily. Part of its allure can be put down to its association with James Bond, whose escapades often took him to these parts. Scenes in Casino Royale, for example, were shot on New Providence Island, where the capital Nassau is located, and where non-stop BA flights from London touchdown along with services from the US.

Follow LUX on Instagram: the.official.lux.magazine

Life in the Bahamas (just 55 miles east of Florida and one of the oldest members of the British Commonwealth) is rich with ways to spend your time, be it strolling along the pink sands of Harbour Island, watching flamingos at West Side National Park on Andros, or viewing Long Island’s blue hole, one of the deepest on Earth. Activities range from diving and sailing to bone-fishing and swimming with pigs on Big Major Cay. With a year-round outdoor swimming climate, the islands are perfect for whiling away the endless days of summer, winter and everything in between.

The desirability of New Providence as a destination has been enhanced by a new resort, Baha Mar, on Cable Beach. Costing US$4.2 billion, it made its debut in 2017 with the opening of the Baha Mar Casino (the largest in the Caribbean, with 119 gaming tables, high-limit betting and private gaming rooms), the 18-hole Jack Nicklaus-designed Royal Blue Golf Course, a flagship ESPA spa with 24 treatment rooms, and the Racquet Club Baha Mar. Also there are the Baha Mar Convention, Arts & Entertainment Centre and the Grand Hyatt Baha Mar hotel, and beyond the show lakes and fountains, you will discover 30 designer boutiques, with brands such as Rolex, Bulgari, Hublot and Chopard.

The exterior of the SLS Baha Mar hotel

With direct access to a kilometre-long white sandy beach, the 299-room SLS Baha Mar opened soon after in November 2017, while spring 2018 saw the unveiling of the 237-room Rosewood. There are fully serviced one- to six-bedroom oceanfront residences and villas from $705,000 at the SLS and from just below $1m at Rosewood. For UK citizens looking to buy property, Baha Mar provides enticing new options in this long-standing tax haven, with no income tax charged to residents no matter where in the world they earn their money. Once you own a house or apartment valued at more than $750,000, you are eligible to apply for permanent residency, and for anyone investing in excess of $1.5m, their application may be expedited.

The Monkey Bar at SLS

The jet-set lifestyle of Baha Mar is easily enjoyed. The SLS Baha Mar, which is operated by US hospitality group sbe, has become a popular hotspot for entertaining. In addition to Mediterranean restaurant Cleo and trendy Monkey Bar, there is Privilege for upscale pool parties, rooftop lounge Skybar (the only one in Nassau), modern Japanese restaurant Katsuya, Fi’lia by the James Beard award-winning chef Michael Schwartz, and nightclub Bond, conceived by rock singer Lenny Kravitz’s Kravitz Design. Carna for steaks is coming soon.

Read more: Ultra-luxury development One Monte-Carlo opens in Monaco

The new Rosewood, meanwhile, has farm-to-table London-style brasserie Commonwealth and its exclusive Rum Room; and Costa, which features pavilions surrounded by water and a menu of seafood and meat dishes with a Latin American twist. In addition is The Library where a Bahamian-style afternoon tea is served. The heavenly Manor Bar features design inspired by a yacht interior – all dark polished woods and blue velvets.

The Living Room at Rosewood Baha Mar

The design of the property itself is reminiscent of a Bahamian island estate home, with white weatherboarding, tropical gardens and verandas. And to ensure the stresses of work are smoothed away, Sense, a Rosewood spa, has created treatments based on ancient Bahamian rituals using local plants such as lignum vitae, moringa leaf, cassava and neem tree.

For those interested in a base on the island, Rosewood has one- to three-bedroom residences (from $995,000) with private concierge and butler services, plus four-to six-bedroom beachfront villas with their own pool (from $6.4m to $25m). Buyers at Rosewood and SLS are eligible to apply for permanent residence status. Dependent on nationality, buyers may be entitled to tax benefits including capital gains and income tax exemptions.

Owners of the residences at SLS and Rosewood enjoy access to the members-only Nexus Club (with its champagne bar, pool with day beds, private gaming and cigar bar) plus the 65m (213ft) super yacht Eternity, on which they can cruise the archipelago or visit Baha Mar’s own 15-acre private island, Long Cay. Staffed by Rosewood and available for private hire, this is where sybarites can relax in a hammock on the beach with a glass of rum. Life doesn’t get any better than this.

Find out more: bahamar.com/residences/

This article was first published in the Winter 19 Issue.

The apartments boast spectacular views over the square and the ocean

LUX travelled to Monaco for the opening of One Monte-Carlo, the swankiest residential and retail development, in the most expensive location in Europe.

Clear blue skies, champagne poured out of magnums at breakfast time, real fur aplenty, and new flagship stores for the likes of Louis Vuitton and Céline. It can only be Monte-Carlo, and to be precise, it can only be the opening of One Monte-Carlo, a staggeringly opulent new development in the very heart of the principality, incorporating 37 apartments and dozens of fashion and luxury stores in what a property developer would call an ultra prime location.

Prince Albert II,Princesse Charlene, Prince Hereditaire Jacques and Princesse Gabriella at the inauguration of One Monte Carlo

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You may know Casino Square from its starring role in the Monaco Formula One Grand Prix and various movies, or because you park your Ferrari F 512M there when you visit the casino; now in a field of architecture engineering, it also boasts this rather beautiful development, next to the Hotel de Paris, designed by (Lord) Richard Rogers in an organic and eco-friendly style, anchored almost physically by the new Vuitton flagship.

With architecture by Richard Rogers and interior design by Bruno Moinard, One Monte Carlo houses 37 luxury apartments and dozens of retail stores

The apartments themselves are designed by the estimable Bruno Moinard, who works closely with both LVMH Chairman Bernard Arnault and Kering founder Francois Pinault, personally. Interestingly, the apartments are only available for long-term rental not purchase. More than half have already been rented for the next 12 months, with some lucky residents paying more than €2 million a year. For les happy few, there is no better location in Monaco, or possibly Europe.

Darius Sanai

Joe Sitt, President and CEO of Thor Equities

Joseph Sitt, President and CEO of Thor Equities, sits atop a luxury property, retail and advisory empire that straddles the western hemisphere. His company owns and develops prime retail property throughout the US, as well as Latin America and Europe. The portfolio and development pipeline of the New York-based company, which he founded in 1986, is in excess of US $18bn.

He is also known as something of a luxury visionary: unlike many property companies, his firms (he also runs Thor Retail Advisors, a leading retail agent and consultant; and others) work closely with fashion and luxury brands to ‘place make’, transforming the areas they are based in. Like LUX, he also believes in mixing high luxury with creative emerging brands to create an atmosphere of discovery as well as indulgence. LUX Editor-in-Chief Darius Sanai caught up with Sitt on one of his whirlwind visits to London about the rise of LA, Mexico, and the future of luxury retail.

LUX: Tell me about the rise of LA as a destination.
Joe Sitt: There is physically no more room in San Francisco for office space and for homes, for rental buildings and retail. So, much of that industry is migrating to LA because it’s also on the coast and it’s got better weather. It’s also got more culture and things happening, so there is a lot of migration there, and a lot of wealth being created in LA. And you are getting a lot of second home owners (from the San Francisco area) who are buying in LA.

Between the businesses migrating their technology and the second home owners there, the revitalisation and reactivation in LA is tremendous. You can see also that new restaurants are incredibly successful. And it’s not just coming into LA proper. It’s also coming from down below for example into Santa Monica and Venice Beach. You have tech companies like Snapchat whose headquarters are based over there.

The other aspect of it is the creative industries in LA. Some real fashion is coming out of there for the first time in quite a while. Secondly, the movie industry. For the first time the movie making business is a real profitable business for film makers, writers – salaries are going up tremendously for all of them and for anybody affiliated with the industry.

The tech industry has so much wealth and power and it has the “funny money”, because their stock prices are so high; for example the FANGs – Facebook, Amazon, Netflix and Google – their stock prices are so high that they are throwing money very aggressively at almost anything. And that is crossing with the fact that the biggest thing that all of those tech companies need, and that they don’t have the ability to do within their tech shops, is actually content.

So now what you have is, if someone is making movies in LA you actually have a shot at a bidding war between Amazon, Netflix, etc. Even Snapchat have announced that they want to be buying and delivering content. That’s creating a really exciting time for the LA market for the people in all forms of the creative industry. A combination of wealth and creatives.

LUX: And in parallel the visual arts has revived there in the last 10 years.
Joe Sitt: Yes. For example, my friends at the [Helly] Nahmad gallery, who are the largest owners of Picassos in the world, now see how many people are coming from the West Coast to consume their products in New York. So they are opening their third outpost: they’ve got London, New York and are now looking to the West Coast. You’ve got [Larry] Gagosian who’s got his New York Gallery, he sees where the zip codes are where he’s shipping his product to. So while people are opening up shop in San Francisco, to get to the wealth proper a lot of them are really looking to the arts district in LA.

Read next: Japanese restaurant, Sake No Hana brings blossoms to Europe 

LUX: Do you see the emergence, despite Donald Trump, of LA and Mexico emerging as one entwined retail and luxury zone?
Joe Sitt: Very much so. I look at Mexico as a big new frontier in luxury fashion. A tremendous amount of wealth has been created in that country. In terms of those people who think that Donald Trump’s policies are going to hurt Mexico…I will throw you a curveball and show you how he’s actually getting the opposite result from what people think would happen and perhaps what he intended. I will give you two examples.

One, is in terms of the border in terms of trade as well as in in terms of immigration and how they actually play out. Sometimes when you shoot a bullet when it comes to policy you don’t know who the victim is going to be. The trade announcement forced a tremendous amount of devaluation in the Mexican Peso. The Peso went from around ten pesos to the dollar ten years ago to twenty two recently; so about half. The net result of doing that was making Mexico as a country and as an exporter more competitive.

As a result of making them more competitive from their currency it increased America’s trade deficit with Mexico dramatically over the last quarter. The opposite of what everyone expected to happen in that first quarter. The second thing that occurred with regard to the second policy, immigration, also had an unintended consequence; which is as a result of being tighter on the border for immigration, US companies have started to create tech centres in Mexico. In Guadalajara, and in Tijuana for those companies in San Diego who just want to be able to cross the border and travel 45 minutes to their foreign teams.

So now you’ve seen an incredible resurgence of business and activity in both Guadalajara and Tijuana in Mexico for the tech industry as a result of those tough policies. It’s a place so close to the United States and you can house all of the greatest foreign minds in the world.

The Ferragamo store on Masaryk street in Mexico City

LUX: Mexico has been seen as an outlier in terms of luxury retail.
Joe Sitt: It takes time for a market to react to some of things I’ve mentioned. It’s now waking up. I feel that the entire luxury market has been sleeping at the wheel regarding the Mexico opportunity. And so now they are just waking up to it. Those who are waking up to it are finding success in the market place. But it takes time for them to mobilise.

LUX: Can you tell us your vision for what you’re doing there, because it’s a long term play.
Joe Sitt: We are attacking it from multiple prongs. One of course is just bringing luxury retail there, and creating a platform for it to come to, for the first time. We sparked the revitalisation a street called Masaryk and in an area called Polanco, in the heart of Mexico City. In the old days it was an Upper East Side kind of marketplace that was starting to become abandoned and is now revitalised.

LUX: And is that now going to be the Rue St Honoré of Mexico?
Joe Sitt: Yes exactly right. You’re starting to see it. Hermès, Ferragamo, Gucci and Goyard just opened there. So you’ve got some great brands already.

LUX: Was this through you?
Joe Sitt: We were the spark that brought it all together.

Thom Sweeney SS17

LUX: Integrating investment in emerging fashion brands and developing districts seems pretty for a property company. What’s behind it?
Joe Sitt: Candidly, it’s more of a passion. Yes, there are financial benefits of being on the ground floor of some of the most exciting brands and investing with them or representing and aiding them. Yes, there will be financial reward, probably in years to come when a Thom Sweeney explodes and goes next level or a Drakes or an Edward Green or a Maison Bonnet. But for me, more than anything else, at this stage in my career I am looking for things that I enjoy personally. And I enjoy young and exciting luxury brands and helping them achieve their potential. I get my personal thrill vicariously through their success.

Read next: Labassa Wolfe on the contemporary tailoring experience

LUX: Is your ideal scenario that they grow up to be the next Moynat, Vuitton, Hermès?
Joe Sitt: In some cases yes, in some cases no. For some, Maison Bonnet, the eyeglasses company, we are going to help them make the move from Paris’s first and only little artisan shop to executing in London. It’s about growing the business but not necessarily overgrowth or creating a Goliath.

LUX: And is the long term that you are buying, building and selling them?
Joe Sitt: I have to be careful in terms of conflict so I can’t say which ones I invest in. Other than to say when I do make investments in them I am focused on very very long term. It’s not to buy and sell. It will go wherever the visionary wants to take it, who’s owning the business, will we ride with this vision. In terms of our advisory business, our goal for these companies is to help them reach whatever their potential is, or is meant to be. Some of them it’s meant to be a very large business, some of them it’s not. We do the same thing with tech related businesses. I mentioned Warby Parker [an eyewear company], we were with them from the start, opening all of their first locations. Helping them understand the challenges of physical retailing versus internet retailing.

LUX: You are a property person. But is retail moving online?
Joe Sitt: There will be challenges in terms of distribution for people to buy things online for many years to come. And buying direct is not a new invention. We had catalogue prior, it was just a different medium for doing it. Someone would get the catalogue to their house and then they would order by telephone; or later order through emaiI. I look at online as another modem to deliver a product to a consumer. When it comes to commodities, it’s easy enough push a button and buy it on the internet. But does the internet mean that Nike should not open up more stores? We’ve found the opposite. I worked with Nike in New York, myself and a partner, for the first flagship store in Soho on the corner of Spring Street and Broadway. They are doing two incredible flagships that are costing them mega millions of dollars to build. Why are they doing that in the year 2017 with all the talk of tech and internet sales? Because they realise for a brand, it works arm in arm. People want the experience of a brand. The same way people are talking about restaurants and experience and enjoying that aspect of it, it’s the same thing when it comes to a brand. I want to go to Nike and not just see pictures on the internet. I want to touch the product, I want to try it on I want to interact with it.

Maison Bonnet’s Palais Royal Salon in Paris. Image by JYLSC

LUX: You have done some transformative retail schemes over the years. What are the challenges when you have an area like this that has got great potential but you need to change things? Do you get resistance?
Joe Sitt: There is always resistance. I always say that the secret to knowing when a project is going to be great is the greater amount of resistance. We enjoy both. We like doing things in established high profile tourist destinations as well as cool emerging areas like Wynwood in Miami, Venice Beach in California, and all of these creative markets all over the world that we think need and deserve luxury exposure as well.

Read next: Luxury in the foothills of the Himalayas

LUX: Do you think that monolithic luxury malls as are opening in China and elsewhere, where everything is a luxury brand and nothing else, will change? Will people want more of a mix in there?
Joe Sitt: Yes. That’s boring. Even if it’s great luxury brands it’s not what the consumer wants. As a consumer it gets more and more sophisticated. You see that in their taste they want something that is more eclectic.

LUX: A bit of discovery?
Joe Sitt: Yes. It could be restaurant discoveries, specialty shops, boutiques, perfumeries, candle shops etc. Intermixed with the luxury brands and that’s what creates the most successful environment for a luxury brand.

LUX: What’s the most exciting area of luxury and fashion for you?
Joe Sitt: Menswear is so exciting, much more exciting than womenswear, still very much an untapped market, with brands we’ve referred to today, Thom Sweeney for example, in years to come that could explode. I think that food, F&B, restaurants etc. have tremendous potential. Look at a market like London, if you were here 15 years ago the restaurant scene was horrific. It’s come along light years. I think other markets are going to expand to a much greater degree.

Last, but certainly not least is destination. I think people are remaking what the word ‘resort’ is, as hospitality and a destination. I think people are stating to get really creative. People crave creative.

Finchatton’s exclusive residential development on Cheval Place in Knightsbridge (above: the penthouse reception room)

Knightsbridge, Belgravia or Mayfair? That’s the choice that faces most high-rolling new residents or investors in London. The areas border each other (the boundary between Belgravia, Knightsbridge and neighbouring Chelsea is notoriously fluid), and while none is exactly shabby, each has a different vibe and soul.

Mayfair, the most historically significant, houses the best boutiques and brass-plaque fund headquarters, but until recently lagged behind on residential desirability – it’s catching up, though. Belgravia is home to the most significant real estate. Nowhere else in Europe has the abundance of truly palatial, architecturally significant houses in a super-prime historic area as found within the boundaries of Eaton Square.

Read next: Vilbrequin’s CEO on the 1970s rock’n’roll lifestyle 

But for a blend of prestige, hauteur and vibe, nothing can quite match Knightsbridge, as evidenced by the fact that hotels and boutiques which are technically in Belgravia now claim to be in Knightsbridge. After all, it’s the home of Harrods, Harvey Nichols, the Bulgari hotel, it encompasses the better end of Sloane Street and shares a border with Hyde Park.

“I am always keen to invest in prime real estate where the values are secured by high worldwide demand and rarity of availability” – Javad Marandi

While Knightsbridge has never been anything other than exclusive, some trace its current status as the must-buy area for any self-respecting billionaire back to the 2011 launch of the Candy brothers’ Norman Foster-designed One Hyde Park development. Insiders go further back and point to the earlier creation of the Knightsbridge Apartments at 199 Knightsbridge by the Hong Kong-based Cheng family, back in 2002, to bringing world-class apartment amenities (proper hotel-style concierge, pool, gym) to London, once a city of houses rather than apartment towers.

Read next: Jean-Claude Biver of LVMH on the eternal quality of true luxury

Now, with the emphasis away from bling, the places to own in Knightsbridge are in less flashy developments. Enter Knights House on Cheval Place, a brand new development that has arrived under the radar. In the heart of Knightsbridge proper, in a quiet street opposite Harrods, the development by Finchatton, “the discerning man’s Candy & Candy”, has sold out rapidly even while we were creating this story. At the time of going to press, only the penthouse remained, a three-bedroom, two-terrace, 210 sq m lateral apartment with the peace of a village.

Says Alex Michelin, MD of Finchatton : “It’s in a lovely part of Knightsbridge village, right by Harrods. It’s incredibly quiet, with no through roads: you hear no traffic or other noise. It has wonderful views over to the park and the dome of the Brompton Oratory.” Michelin says they were fortunate in that the previous building on the site had no historical value, so it could be knocked down and replaced with a new-build low-rise – a real rarity in the area.

Read next: LUX takes a VIP tour of the Monaco Grand Prix 

Javad Marandi, a British-Iranian global property investor and one of the project’s financial backers, who himself has a house nearby, says: “London is considered worldwide as one of the safest, most liberal and most desirable places to invest. Knightsbridge, with its close vicinity to Harrods and all the premium shops of Sloane Street, is the most attractive area in London; and Cheval Place is an ultra-luxury development in the heart of Knightsbridge village. I am always keen to invest in prime real estate where the values are secured by high worldwide demand and rarity of availability.”
A fabulous home and a watertight investment; what more could you need? Oh, it’s a two-minute stroll from Zuma, so you can fire the driver.

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