Dean Main, Managing Director at Rhodium

Dean Main, Managing Director at Rhodium Residence Management, has commissioned a three-part research study drawing on a large data-set of super-prime homes in Prime Central London.

The objective is to reveal and explain various myths about who lives there and their lifestyles. Given that the Rhodium portfolio totals £1.047 billion, with 24 per cent made up of super-prime property sold (in 2015) within their operating area of Prime Central London, it makes them well placed to provide a detailed analysis of how ‘super-prime’ status actually impacts on the capital.

International diversity

The first part of the study examines the national origins of super-prime homeowners in London. This exciting, successful UK capital has long been a haven for international diversity; the new mayor, Sadiq Khan’s slogan, ‘London is open’ was a positive affirmation that London is a global trading centre, welcoming talent and investment from around the world:

  • Since 2012, London has more super-prime listings than any other city
  • The Royal Borough of Kensington & Chelsea has the most concentrated number of the super-prime market equating to 49% of London’s total (homes over £5m)
  • Minimal change of ownership – 2014 it totalled 490, 2015 & 2016 reduced by 50%
  • Only 6.9% of all £5m plus sales in 2016 were new build, but 95% of Rhodium’s property portfolio were built in the last five years, used as prime or second homes
  • Rhodium’s portfolio reflects British super prime owners are the most established at 24.4% with Russia only at 6.4%
  • Owners of properties valued at £5-£15million spent £2.7m per annum; over £15m this increases to 4.6%: £325k on staff, £2.7m on interiors & £500k on jewellery & watches
  • Interest from China is on the increase, with one billionaire in Asia created every three days in 2015 and looks set to boost the UK economy
  • London is home to more multi-millionaires than any other world city and receipts from super-prime residential investment accounted for 14% of SDLT receipts in 2015/16

Rhodium is an ultra-luxury residence management company that specialises in providing bespoke property and lifestyle management services to the most prestigious residential developments and super-prime homes in Prime Central London,

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