Standing beside Europe’s tallest building, Shard Place is set to capitalise on the pivote to luxury rentals by UHNW as one of London’s rental-only space.
The 27-storey tower boosts London’s highest outdoor rooftop pool and spectacular views over the city’s skyline. Located just moments from London Bridge, each one of the 176 studio, 1-, 2- and 3-bed apartments are strictly built-to-rent and are leased through the managing company.
Opening its doors to residents in June 2025, Shard Place is the final piece in the Shard Quarter trilogy. It is designed by the renowned Renzo Piano Building Workshop, the visionary studio behind the neighbouring The Shard and The News Building as well as inconic buildings such as the Centre Pompidou in Paris, The New York Times Building and Mareterra in Monte Carlo.
South of the river has yet to rival Mayfair for luxury living, but it is an increasingly culturally rich area with world-class amenities and restaruants. Borough Market, and the new Borough Yards, are on the doorstep; TĪNG, one of several high-end restaruants on top of the Shard literally towers above, and Shard Place is only a short walk over the bridge to the City.
Rentals out perform sales
Shard Place is not the first rental-only development in London, but they remain relatively rare. But that may soon change. Demand in the prime central London (PCL) lettings market has outpaced that of the sales market. While some wealthy overseas investors are pulling out of the UK in response to a tougher tax regime, others are adopting a wait-and-see approach.
[See also: Why so many wealthy Americans are moving to the UK]
According to Knight Frank, the number of tenancies agreed at £1,000 or more per week in PCL rose by 7 per cent in the year to May compared to the previous 12 months. In contrast, sales of properties priced above £2 million declined by 4 per cent over the same period.
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The abolition of the non-domicile tax status in April has sparked a rush of high-net-worth individuals looking to leave the UK. Under the previous rules, individuals could reside in the UK without paying tax on foreign income or gains.
The new regime limits this benefit to four years and brings worldwide assets within the scope of UK inheritance tax. As a result, many overseas investors, especially from the US, are looking for a short-term residence rather than putting down roots.
In the super-prime segment (properties renting for £5,000+ per week), the growth has been even more pronounced. Tenancies agreed in PCL rose by 15 per cent in the year to May compared to the previous year.
[See also: Neighbourhood watch: where the super-rich really live in London]
Ready to move in
Shard Place’s turnkey apartments are desgiend for those seeking comfort without commitment. Four bespoke design palettes, Bermondsey Light, Bermondsey Dark, Borough Light and Borough Dark, come as standard. The apartments feature a curated collection of more than 1,000 pieces of art works, the thinking being rentals will not want to transport their own art collection. Shard Place offers a suite of lifestyle spaces, including a gym, treatment rooms, private cinema and terrace.
[See also: The Roaring Twenties: Why London is in a ‘golden decade’ for super-prime property ]
Each apartment is furnished by international design studio State of Craft, but as stunning as they are, it is the view from the floor-to-ceiling windows that captivates. Laid out before you are St Paul’s, Southwark Cathedral, the Tower of London and Tower Bridge. That is something Mayfair can not compete with.
