6 ★ FT Weekend 17 August/18 August 2019T
he north London suburb of
Totteridge has a reputation
for respectability. “There
are billionaires here but
they are very discreet,” says
Terry Bannister, chairman of the Tot-
teridge Manor Association, a charity
that maintains 54 acres of theenclave’s
green spaces, including its neatly
clipped grass verges. “You don’t see too
many Lamborghinis”.
Visitors may see the odd disgruntled
football fan, though. In June, a cluster of
Newcastle United fans assembled in
Totteridge to protest outside Mike
Ashley’s house, unhappy about the
sacking of the club’s former manager
Rafael Benitez.
The founder of Sports Direct and
owner of Newcastle United is not
known for his active participation in the
community — nor is he particularly dis-
creet. He has a habit of festooning the
pillars of his neo-Georgian mansion
with flamboyant curtains of lightbulbs
over the festive period. Arsène Wenger,
manager of Arsenal until 2018, and
another local, is more likely to be seen
riding his bike.
“Tot” — as it is known by some of
residents — is a collection of grand
homes and converted manors near the
end of London’s Northern line. The
TMA makes sure Totteridge Green is
“deliberately kept semi-rural”, says
Bannister. But when it comes to prop-
erty, the neighbourhood has acquired
a reputation as one of London’s blingy-
est villages. In recent years a 16,000
sq ft home sold for “about £18m”, says
Lawrence Henry, partner at local
agent Statons.
Totteridge is a suburban reflection
of the woes of the central London
market, with sales of prime homes
hit hard. Between 2017 and 2018, thenumber of £1m sales in Totteridge’s
N20 postcode halved, according to
Hamptons International, from 52 to- In the first seven months of
2019, there were only six recorded
£1m-plus sales.
Meanwhile, the premium that buyers
were prepared to pay for a Totteridge
postcode has shrunk. In 2017, the aver-
age sale price in Totteridge was
£722,690 — 14 per cent higher than the
surrounding Barnet borough average,
according to Hamptons. So far this year,
the average sale price in Totteridge was
£605,740 — a figure that is 16.2 per cent
down on 2017 and £5,000 less than the
rest of Barnet.
Uncertainty over Brexit means “eve-
ryone is sitting on their hands”, says
Henry. “Say you have a nice house in
Totteridge at £1.5m and you want to
move to a £2m or £3m house,” says
Oliver Ross, partner at Real Estates, a
local agency. “Is now the time to do it?
Arguably not.”
house with a half-acre garden and
a heatedpool for £3.6m (pictured
below left).
Buyers who are not moving for the
proximity to Arsenal and Tottenham
Hotspur training grounds are coming
forspace and local schools, say agents.
In the prime sector, buyersmove from
central London locations such as Hamp-
stead, Finchley, Islington, Crouch End
and Muswell Hill, says Ross. “Do I sell to
young and trendy buyers? No. It’s very
much a family area,” he adds.
Preston Bennett, in association with
Hamptons International, is marketing a
seven-bedroom, Grade II-listed house
in 1.5 acres overlooking Totteridge
Green for £6m.
Development is limited by the conser-
vation area, says Bannister, but there is
“a tendency for large-ish older houses to
be knocked down and replaced with big-
ger, more modern houses”. Real Estates
ismarketing a 24-acre plot with plan-
ning permission for a 14,000 sq ft home
for £7.5m.
Totteridge Park, a 17th-century con-
version of 10 units on a 5.5-acre estate,
opened in June. To date, four units have
been sold, says Ross, who is marketing
the development jointly with Statons.
All buyers to date have been domestic
rather than from overseas and the
development is popular with downsiz-
ers, says Henry. A duplextwo-bedroom
apartment in the estate is on the market
for £1.295m. There are also plans to
knock down the Conifers care home in
Totteridge Village and build five new
residential units.
In spite of the downturn,Totteridge
stillhas cachet. Totteridge Place, a 124-
unit new-build development where
prices start from £589,950 for a two-
bedroom apartment, is technically in
Whetstone,a lower-priced area, accord-
ing to agents. David Hnyda, sales and
marketing director at Crest Nicholson,
the developer, says the project has been
given its neighbour’s name “toconvey
the premium nature”.(Above) Scenes
from
Totteridge’s
streets; (right)
four-bedroom
house, £3.6m
Charlie Bibby for the FTThe Orange Tree
pub
Charlie Bibby for the FTThe blingy-est
village in London
UK property| Totteridge’s price premium has
been dented by London’s woes. ByMelissa Lawford
House Home
i/BUYING GUIDE
In the two years to April 2019, sale prices
in Totteridge fell 15.2 per cent, while the
Barnet average rose 3.8 per cent,
according to Savills Research using Land
Registry data
The journey time from Totteridge &
Whetstone Underground station to Bank
is 34 minutes
Private schools nearby include Mill Hill
and Haberdashers’ Aske’sWhat you can buy for...
£900,000A three-bedroom semi-
detached house near the Tube station
£2.35mA four-bedroom, Grade II-listed
house on Totteridge Common
£7.5mA 24-acre plot in Totteridge Village
with permission for a 14,000 sq ft home
More at propertylistings.ft.commixture of long-term residents like
me,” says Bannister, who has lived in
the area for 46 years, and a separate
“super structure” of large homes. The
most sought-after are in Totteridge
Village and on Totteridge Common. In
Totteridge Village, Real Estates is
marketing a 3,551 sq ft, four-bedroomPrime Minister Boris Johnson’s
comments on stamp duty is causing
problems too. “It’s another reason to
stall,”adds Henry, “people are saying
‘we’re not going to buy now in case
stamp duty comes down’ .”
Totteridge, which encompasses Dar-
land’s Lake Nature Reserve, is “aTotteridgeTotteridgeTotteridgeTotteridgeTotteridgeTotteridgeTotteridgeTotteridgeTotteridgeTotteridgeTotteridgeTotteridgeTotteridgeTotteridgeTotteridgemaps news.com/©HEREmaps news.com/©HEREmaps news.com/©HEREmaps news.com/©HEREmaps news.com/©HEREmaps news.com/©HEREmaps news.com/©HEREmaps news.com/©HEREmaps news.com/©HEREmaps news.com/©HEREmaps news.com/©HEREmaps news.com/©HEREmaps news.com/©HEREmaps news.com/©HEREmaps news.com/©HEREmaps news.com/©HEREmaps news.com/©HEREmaps news.com/©HEREmaps news.com/©HEREmaps news.com/©HEREmaps news.com/©HEREmaps news.com/©HEREmaps news.com/©HEREmaps news.com/©HEREmaps news.com/©HEREmaps news.com/©HEREmaps news.com/©HEREmaps news.com/©HEREmaps news.com/©HEREmaps news.com/©HEREmaps news.com/©HEREmaps news.com/©HEREmaps news.com/©HEREmaps news.com/©HEREmaps news.com/©HERE kmLONDON
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