Large swathes of central London, including many of its most desirable addresses, are owned by a small number of estates: aristocratic fiefdoms each with their exquisite old money enclaves and distinct architecture.  But even London’s great estates can’t survive on historic prestige alone. They need to move with the times and morph into dynamic “urban villages” where people want to live, work and shop.  “Stewardship” is the key concept, according to Hugh Seaborn, CEO of Cadogan Estates, Chelsea and Knightsbridge’s main landlords who are currently overhauling Sloane Street by upping its luxury retail reputation and introducing multi-lingual "ambassadors" to guide visitors along the street. “Stewardship is about managing something for the benefit of future generations, while ensuring they meet the needs of the present generation,” says Seaborn.  Most of London’s biggest land-owners take as their inspiration the Howard de Walden estate’s transformation of Marylebone High Street. In 1995, a third of the street’s shops were either vacant or occupied by charities. In went Waitrose, Conran and small, specialist shops, the Georgian buildings got a thorough jet-spray and now Marylebone is one of the most sought-after residential and commercial areas of central London, where property values has risen by 128 per cent since 2000, according to Martin Bikhit, MD of Kay & Co estate agency.  Seeking to emulate its success – and bring its property values in line, having traditionally been about 15 per cent lower – The Portman Estate, which owns 110 acres of prime Marylebone, has invested millions in developing Portman Village around New Quebec Street. “They’re keen to monitor the tenant mix, granting five-year leases which give them the flexibility to make changes and ensure the long-term success of the area,” says Bikhit. “Now flats in the Portman Estate’s three main squares – Montagu, Portman and Bryanston – costs 22 per cent more than anywhere else in the local area.”  Also imitating the Marylebone model, Grosvenor, the Duke of Westminster’s estate, worked its magic on Mayfair’s Mount Street – which is hailed as another stellar example of how to breathe new life into old estates.  “They cobbled and shined up Mount Street, inventing a new centrepiece for Mayfair,” says Roarie Scarisbrick, partner at buying agents Property Vision. “This has been repeated on Motcomb Street and Elizabeth Street, where you can browse the local artisan shops and get an excellent lunch from an eye-wateringly expensive delicatessen. It isn’t a model that would work everywhere, but this is what people want here, and the effect is clear to see.”  Grosvenor are the most “pioneering” of the great estates, according to Ed Tryon at Lichfields, a prime central London property search company. “They have cottoned on to the fashionable pop-up trend and fill empty shops with spaces for up-and-coming designers and artists before the permanent tenants move in,” he says. “Having created a community through the Mount Street Association and the Mount Street Garden Party, they have created a mini destination just around that one street and that is a sure-fire way to improve house prices.”  Now Grosvenor’s focus is North Mayfair, around Oxford Street, including 16 apartments to let at 65 Duke Street and trendy new retail tenants to be announced next month, all sitting in the sightline of Selfridges. The vision also includes The Beaumont, the first hotel to be operated by restaurateurs Corbin + King.  In St James, south of Piccadilly, The Crown Estate has recently launched a £500m programme that will partly hark back to its history as a place for fine dining, with five new restaurants to open before Christmas, including Angela Hartnett’s Café Murano. The historic St James Gateway is also being redeveloped to include 11 flats to let and five for sale, with 125-year leases, from £3.95m through WA Ellis.  But most excitingly, thinks buying agent Robert Bailey, is the Sultan of Brunei’s purchase of most of Queensway in Bayswater, including the white elephant that is Whiteley’s shopping centre. With Marylebone’s makeover as his inspiration, the Sultan wants to turn the strip of takeaways and mobile phone shops into a cluster of upmarket retailers.  “The Howard de Walden estate has already proved that if you can get the retail mix right along the main shopping streets, the area will transform,” says Bailey. “With enough vision, the Sultan could easily replicate the successes of Marylebone, Grosvenor’s Motcomb Street and Cadogan’s revitalisation of Sloane Street and create another great London estate.”
Historic fiefdoms continue to innovate, creating desirable urban villages with a pioneering mix of retail and restaurant developments