St John’s Wood Becoming An ‘Outpost Of Hollywood’

The north London suburb of St John’s Wood is becoming an outpost of Hollywood, while Hampstead Heath is like the Hollywood Hills, due to the London film boom and number of Hollywood stars looking for short term prime lets here.

A report in The Telegraph says that stars renting, or looking to rent here, include Will Smith, Rihanna, Tyreece Gibson, Johnny Depp, Mark Wahlberg, Richard Gere, Charlize Theron and Penelope Cruz amongst others.

Stevie Walmesley from the Knight Frank super prime rental team explains: “Short lets are becoming increasingly popular with film stars and preferable to hotels as the risk of being swamped by paparazzi is averted.”

Knight Frank say that tax breaks for the British film industry have lead to a surge in movie-related demand for short lets, with their enquiries rising by 82% over the past year. The firm says that rental budgets have risen by 15% to an average £2,745 a week, although stars, crew and production teams will pay £30,000 a week or more for some properties.

These areas of north London have, of course, long been highly desirable residential districts but their increasing popularity with big name stars is adding an extra dimension to the market here. Savvy high-end London property investors are unlikely to be too far behind the curve.

Source The Telegraph
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