The National's London luxury property series serves to whet the appetite, and this month's offering is a real "piazza de resistance" in the heart of Covent Garden.
Featured property
43 King Street, Covent Garden, London, WC2E 8JY. Approximate market value: £8.25 million ($11.42m).
The key details
The restored two-bedroom flat in Covent Garden's oldest building occupies the entire first floor.
Period features in the central reception room include Baroque plaster decoration, bolection mouldings, panelling and cornice detailing across the walls and ceiling.
King Street provides an enviable panorama of Covent Garden piazza. Photo: Savills
The spacious kitchen / dining room comes with fully integrated appliances and a feature fireplace, and there is a further reception room / study also with a feature fireplace.
The principal bedroom suite is at the back of the apartment and so away from the piazza's hubbub. It includes a dressing area with fitted wardrobes and ensuite bathroom with a bath and separate shower.
There is a further generous double bedroom with ensuite bathroom, and a separate guest cloakroom.
Lofty ceiling heights in excess of four metres provide a sense of space, and seven grand sash windows across the width of the building's facade bathe the flat in natural light.
The windows also provide south-facing views over the beautiful Covent Garden piazza, taking in St Paul’s church which dates back to 1633.
What's the story
Built in 1716, 43 King Street is Covent Garden’s oldest and arguably most important building.
The handsome Grade II-listed house was built by the Baroque architect Thomas Archer, and was originally named Russell House after its first owner Lord Russell, First Lord of the Admiralty.
Covent Garden Piazza, as it would have looked when King Street was first built. Getty Images
The fully restored property is perfectly positioned for the area's upmarket boutiques, restaurants, theatres, museums and hotels.
Covent Garden itself has benefitted from significant investment and development in recent years, and is now one of London's finest and most picturesque retail and restaurant neighbourhoods.
What the broker says
What makes this property stand out from the crowd?
It's a very well protected and preserved apartment given its position in the oldest building in Covent Garden.
The first floor in every period building is absolutely the best because you've got the floor-to-ceiling windows, you've got the high ceilings and you've got the intricate detailing of period features.
It is arguably the best apartment in Covent Garden and is the most unbelievable entertaining space. Everyone who has looked round it says it is just magnificent.
The light and spacious apartment is perfect for entertaining. Photo: Savills
Are there many similar apartments in London?
Apartments like this don't come up very often. We sold a similar property in St James's earlier this year and the buyers actually bought it unseen, such was the rarity of its period features.
We think the same thing could happen with this one. It's one of the most special first floor apartments we've had on our books.
Who would the property most suit?
Anyone who wants to buy a very beautiful and very special piece of history that works both as a living and entertaining space.
Those with an interest in arts and culture would also be ideally suited.
You've got the the British Transport Museum. You've got all the shops and all the street entertainers. And, of course, you are right on the doorstep of the Royal Opera House − not to mention the multitude of theatres and world-class restaurants London's West End has to offer.
Not many people can step out of their front door and into the Royal Opera House. Getty Images
Why is now a good time to buy in London?
Pricing in central London is still 20 cent below the peak of 2014 but all areas in London have recorded price growth in every quarter this year.
Savills research team forecasts 2 per cent growth this year for prime central London and 8 per cent growth next year in terms of pricing. So in terms of timing, now's a really good time to buy.
Claire Reynolds, co-head of PCL and head of Mayfair at Savills
Founded over 50 years ago, the National Archives collects valuable historical material relating to the UAE, and is the oldest and richest archive relating to the Arabian Gulf.
Much of the material can be viewed on line at the Arabian Gulf Digital Archive - https://www.agda.ae/en
Married Malala
Malala Yousafzai is enjoying married life, her father said.
The 24-year-old married Pakistan cricket executive Asser Malik last year in a small ceremony in the UK.
Ziauddin Yousafzai told The National his daughter was ‘very happy’ with her husband.
Engine: 1.8 litre combined with 16-volt electric motors
Transmission: Automatic with manual shifting mode
Power: 121hp
Torque: 142Nm
Price: Dh95,900
Monster
Directed by: Anthony Mandler
Starring: Kelvin Harrison Jr., John David Washington
3/5
Specs
Engine: 51.5kW electric motor
Range: 400km
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Torque: 175Nm
Price: From Dh98,800
Available: Now
Picture of Joumblatt and Hariri breaking bread sets Twitter alight
Mr Joumblatt’s pessimism regarding the Lebanese political situation didn’t stop him from enjoying a cheerful dinner on Tuesday with several politicians including Mr Hariri.
Caretaker Culture Minister Ghattas Khoury tweeted a picture of the group sitting around a table at a discrete fish restaurant in Beirut’s upscale Sodeco area.
Mr Joumblatt told The National that the fish served at Kelly’s Fish lounge had been very good.
“They really enjoyed their time”, remembers the restaurant owner. “Mr Hariri was taking selfies with everybody”.
Mr Hariri and Mr Joumblatt often have dinner together to discuss recent political developments.
Mr Joumblatt was a close ally of Mr Hariri’s assassinated father, former prime minister Rafik Hariri. The pair were leading figures in the political grouping against the 15-year Syrian occupation of Lebanon that ended after mass protests in 2005 in the wake of Rafik Hariri’s murder. After the younger Hariri took over his father’s mantle in 2004, the relationship with Mr Joumblatt endured.
However, the pair have not always been so close. In the run-up to the election last year, Messrs Hariri and Joumblatt went months without speaking over an argument regarding the new proportional electoral law to be used for the first time. Mr Joumblatt worried that a proportional system, which Mr Hariri backed, would see the influence of his small sect diminished.
With so much of Lebanese politics agreed in late-night meetings behind closed doors, the media and pundits put significant weight on how regularly, where and with who senior politicians meet.
In the picture, alongside Messrs Khoury and Hariri were Mr Joumbatt and his wife Nora, PSP politician Wael Abou Faour and Egyptian ambassador to Lebanon Nazih el Nagari.
The picture of the dinner led to a flurry of excitement on Twitter that it signified an imminent government formation. “God willing, white smoke will rise soon and Walid Beik [a nickname for Walid Joumblatt] will accept to give up the minister of industry”, one user replied to the tweet. “Blessings to you…We would like you to form a cabinet”, wrote another.
The next few days will be crucial in determining whether these wishes come true.
For life insurance products with a savings component, Peter Hodgins of Clyde & Co said different caps apply to the saving and protection elements:
• For the saving component, a cap of 4.5 per cent of the annualised premium per year (which may not exceed 90 per cent of the annualised premium over the policy term).
• On the protection component, there is a cap of 10 per cent of the annualised premium per year (which may not exceed 160 per cent of the annualised premium over the policy term).
• Indemnity commission, the amount of commission that can be advanced to a product salesperson, can be 50 per cent of the annualised premium for the first year or 50 per cent of the total commissions on the policy calculated.
• The remaining commission after deduction of the indemnity commission is paid equally over the premium payment term.
• For pure protection products, which only offer a life insurance component, the maximum commission will be 10 per cent of the annualised premium multiplied by the length of the policy in years.
Disclosure
Customers must now be provided with a full illustration of the product they are buying to ensure they understand the potential returns on savings products as well as the effects of any charges. There is also a “free-look” period of 30 days, where insurers must provide a full refund if the buyer wishes to cancel the policy.
“The illustration should provide for at least two scenarios to illustrate the performance of the product,” said Mr Hodgins. “All illustrations are required to be signed by the customer.”
Another illustration must outline surrender charges to ensure they understand the costs of exiting a fixed-term product early.
Illustrations must also be kept updatedand insurers must provide information on the top five investment funds available annually, including at least five years' performance data.
“This may be segregated based on the risk appetite of the customer (in which case, the top five funds for each segment must be provided),” said Mr Hodgins.
Product providers must also disclose the ratio of protection benefit to savings benefits. If a protection benefit ratio is less than 10 per cent "the product must carry a warning stating that it has limited or no protection benefit" Mr Hodgins added.
Two-step truce
The UN-brokered ceasefire deal for Hodeidah will be implemented in two stages, with the first to be completed before the New Year begins, according to the Arab Coalition supporting the Yemeni government.
By midnight on December 31, the Houthi rebels will have to withdraw from the ports of Hodeidah, Ras Issa and Al Saqef, coalition officials told The National.
The second stage will be the complete withdrawal of all pro-government forces and rebels from Hodeidah city, to be completed by midnight on January 7.
The process is to be overseen by a Redeployment Co-ordination Committee (RCC) comprising UN monitors and representatives of the government and the rebels.
The agreement also calls the deployment of UN-supervised neutral forces in the city and the establishment of humanitarian corridors to ensure distribution of aid across the country.
Royal wedding inspired menu
Ginger, citrus and orange blossom iced tea
Avocado ranch dip with crudites
Cucumber, smoked salmon and cream cheese mini club sandwiches
iPhone XS
With a 5.8-inch screen, it will be an advance version of the iPhone X. It will be dual sim and comes with better battery life, a faster processor and better camera. A new gold colour will be available. Price: Dh4,229
iPhone XS Max
It is expected to be a grander version of the iPhone X with a 6.5-inch screen; an inch bigger than the screen of the iPhone 8 Plus. Price: Dh4,649
iPhone XR
A low-cost version of the iPhone X with a 6.1-inch screen, it is expected to attract mass attention. According to industry experts, it is likely to have aluminium edges instead of stainless steel. Price: Dh3,179
Apple Watch Series 4
More comprehensive health device with edge-to-edge displays that are more than 30 per cent bigger than displays on current models.
