LONDON BOUTIQUE RES IDENTIAL

I N D I V I D U A L I T Y AT I T S H E A R T

B O U T I Q U E

Henry Ford is universally credited as the pioneer of mass production1, after developing the first moving assembly line in 1913. Within two years, the time taken to produce a car had reduced by 90%. This, in turn, made cars more affordable for the general public. Mass production was revolutionary, enabling the manufacture of large quantities of homogenised goods, and the technique is still as valid today as it was a hundred years ago. Yet, in seeming direct conflict to mass production there is an increasing trend of individuality. In 2015 ‘Trend-Monitor’, a marketing intelligence consultancy, identified individualism as a global mega trend.2 It stated that increasingly discerning and demanding consumers were moving away from safe, consistent brands in favour of unique products and services. Last year individuality was number two in Sparksheet’s list of nine future marketing trends.3

Manufacturers are quickly adapting to this trend. For example, nowadays even consumers of mass produced cars are offered an element of individuality. Buyers can choose the exterior and interior colours, the upholstery, the interior specification and the rims. Taking it a step further, luxury car manufacturers, such as Porsche and AMG, offer complete bespoke customisation packages.

The trend is also apparent in the mainstream retail market. For instance Coca-Cola has personalised its bottles, replacing its famous logo with a range of popular first names and holiday destinations. Converse and Nike offer the option to create customised training shoes with just a few mouse clicks. You can change the colour of the shoe and laces; you can even change the interior lining and add a personalised signature.

Premium brands are also capitalising on the rise in demand for personalised goods. For example, Aspinal, Monica Vinader, and Anya Hindmarch offer monogramming and engraving services in-store. Burberry have a ‘create your own trench’ and ‘create your own scarf’ range.

But it’s not just the big brands using personalisation and individuality to differentiate their products. There is a wider trend of retail moving towards boutique and independent brands. An example is the H&M Group’s creation of new brands including & Other Stories and the soon to launch ARKET, both of which offer a selection of products that are more exclusive than H&M or COS.

Burberry, London

Ford Model T

CONSUMERS ARE BECOMING INCREASINGLY

DISCERNING AND SEARCHING FOR A MORE AUTHENTIC

AND INDIVIDUAL EXPERIENCE. RETAILERS, HOTELIERS

AND RESIDENTIAL DEVELOPERS ARE RESPONDING WITH

PERSONALISED AND BESPOKE PRODUCTS.

B O U T I Q U E

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Hotels too are embracing the trend. Several global hotel groups have introduced ‘boutique’ and ‘lifestyle’ brands for those travellers that prefer design and customisation over size and mass. For example, Marriott International launched its Autograph Collection in 2010 and Hilton Hotels launched the Curio Collection in 2014. Some operators have acquired smaller boutique groups. For example, InterContinental Hotels & Resorts acquired Kimpton Hotels & Restaurants in 2014 (which used to be the largest independent chain of boutique hotels in the US) and AccorHotels acquired a 30% stake in 25hours Hotels in 2016.

Boutique hotels in themselves are not a new concept and have been around since the 1980s; The Blakes Hotel in South Kensington is credited as one of the first boutique hotels in the world. However, traditionally they were small and independent. The adoption by large mainstream (often global) brands is a more recent trend. Partly reflecting this trend, the size of boutique hotels is no longer restricted to up to 150 rooms. Despite the increased size of some hotels, the sense of individuality and luxurious design remains a feature. But now it is even possible to take home a little bit of this luxurious design as some hotels have now branched out to selling the hotel furniture. At Soho House, for example, guests and members often asked where they got their furniture from and given that every item is designed in-house, Soho House started to sell their furniture and decoration.

Residential property developers are perhaps slower off the mark, but buyers are also demanding individuality when choosing a home. These needs are being satisfied by a growing number of boutique developers who specialise in a more individual approach to building. Often starting with existing structures, from offices, to warehouses and schools, they offer developers the opportunity to incorporate distinctive characteristics such as grade listed façades, ceiling beams and exposed brickwork into their developments.

For example, The Pathé Building in Soho has maintained the building’s original listed façade, with the apartments’ interiors reflective of the building’s history as former home of the famous Pathe Film Company.

Similarly, Wardour Lofts, a warehouse conversion in Soho, has retained its exposed brickwork, 200 year old reclaimed oak flooring, original exposed ceiling beams and an array of other strong design statements. The development has been thoughtfully furnished by Barlow & Barlow and Design Haus Liberty which worked on one apartment each. Whilst existing features can offer a character and uniqueness to a building, developers are also incorporating modern architectural elements to make their properties appealing to buyers.

Soho House Hotel, Berlin

The Pathé Builidng, W1

THE TREND IS BEING EMBRACED BY HOTELS,

WITH MANY GLOBAL BRANDS INTRODUCING

‘BOUTIQUE’ AND ‘LIFESTYLE’ BRANDS.

B O U T I Q U E

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The award-winning Artisan development by Dukelease incorporates five original buildings of various design. The corner building has been redeveloped to include a striking, contemporary window design.

Individuality is at the heart of the staircase design at Royalty Mews. The idea for an external staircase originated as a way to save internal space. But the idea morphed and it grew into a unique piece of artwork, by artist Adam Dant, which transforms as night falls and the lights come on.

And it’s not just the unique architectural aspects that buyers are looking for; interior designs need to be malleable to suit individual tastes from across the globe. Developers of boutique schemes are increasingly using a range of interior designers to offer individually designed apartments within the same development.

The Colyer in Covent Garden draws on its heritage as former jazz club – Studio 51 – and boasts the work two different interior designers – Studio Ashby and Fiona Naylor – to offer buyers further individuality within the development.

The apartments at Beau House in St. James’s have been individually designed by Edward Philips with the penthouse designed by Oliver Burns. Each apartment has its own sense of character and they are all named as opposed numbered, offering an added layer of uniqueness.

Developers such as Capco and Dukelease are also embracing the trend with schemes like The Beecham with its interiors by Bergan and Mar and Beau House with its striking façade. These individually designed apartments are exemplar boutique schemes.

It is clear that the retail, hotels and residential sectors are all in their own way adapting to the growing trend of individuality. The demand for unique, bespoke and design led products is being met by an increase in boutique providers, and we strongly expect this trend to gather pace in the coming years. We have come full circle from Henry Ford’s innovations in mass production, to a social shift away from the generic; today’s consumers want a bespoke and individual service. As technology allows greater personalisation, retailers provide an experience as well as a product, so too the boutique residential world is producing unique and special homes.

Beau House, SW1

The Colyer, WC2

BOUTIQUE RESIDENTIAL DEVELOPERS ARE OFFERING

INDIVIDUALLY DESIGNED AND BESPOKE HOMES

B O U T I Q U E

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S O U R C E S

1. Mass Production http://www.investopedia.com/terms/m/mass-production.asp#ixzz4haHpugUt 2. http://sparksheet.com/contagious-optimism-nine-future-marketing-trends-point-better-world/

3. https://trend-monitor.co.uk/trend-report-global-megatrends-local-impact-july-2015/

P H O T O G R A P H Y

P2 top: © bertys30 Depositphotos.com, p2 bottom: © thinglass / Depositphotos.com, p5 top: Nick Moore / Alamy Stock Photo

D I S C L A I M E R 2 0 1 7 C B R E

CBRE Limited confirms that information contained herein, including projections, has been obtained from sources believed to be reliable. While we do not doubt their accuracy, we have not verified them and make no guarantee, warranty or representation about them. It is your

responsibility to confirm independently their accuracy and completeness. This information is presented exclusively for use by CBRE clients and professionals and all rights to the material are reserved and cannot be reproduced without prior written permission of CBRE. Images provided

are computer generated and for illustrative purposes only. All travel times taken from TFL. © 2017 CBRE Ltd.

JENNET SIEBRITS HEAD OF RESIDENTIAL RESEARCH

+44 20 7182 2066 jennet.siebrits@cbre.com

LISA HOLLANDS EXECUTIVE DIRECTOR

+44 20 7420 2004 lisa.hollands@cbre.com

C O N T A C T S

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