London, 24th February 2022-
Northacre, the leading super-prime property developer today launches The Future of a Life of Well-being Report. The Report by leading placemaking consultancy Avansere underlines the importance a focus on wellness, culture and civic engagement has on a development.
The Future of a Life of Well-being Report highlights that the best developments will incorporate indoor and outdoor physical and digital wellness experiences. There will also be more emphasis on a development’s impact on the wider community and neighbourhood, with the aim of creating a long-term legacy.
The report was commissioned by Northacre, developer of The Broadway. Northacre made a notable shift in Q3 of 2021 to promote wellness and make it a key part of the retail leasing strategy, striving to nourish local communities and reinvigorate neighbourhoods.
Niccolò Barattieri di San Pietro, CEO of Northacre comments: “We have been developing residences in prime central London for more than 30 years. Community has always been at the heart of our developments, but with The Broadway, our vision is to meet the changing shift and precedence that well-being is having on our lives now.”
He continues: “The Broadway strives to create a destination that has ‘living well’ at its heart – well – a destination that fosters the community and promotes health and well-being.”
The report encompasses the results of a survey conducted by Opinium (see below) and insights from key figures in architecture, retail, and fitness. They are: Michael Squire, architect and founder at Squire & Partners; Woody Bruce, co-founder of leading retail, restaurant and leisure property consultancy Bruce Gillingham Pollard; Jason de Savary, founder of Core Collective, the London fitness studio network and Antoine Jaubard, Luxe Retail Design & Innovation Director at L’Oréal.
The research details the key role that wellness will play in the design of prime developments and their appeal to buyers. Such schemes will increasingly prioritise a sustainable legacy and the well-being of the communities they are creating. Tom Savigar of Avanser comments: “A life lived well will mean a focus on being connected to local communities, cultural experiences and enhancing environments.”
Further research by JLL shows the impact of well-being on house price value. Nick Whitten, Head of UK Residential Research at comments: “Our analysis shows that house prices and rents have grown more strongly in areas across the UK which score more highly in surveys trying to measure well-being.
The 10 highest scoring local authorities in the ONS’ Life Satisfaction survey saw an average 5% more house price growth and rental value growth over the past 12 months, when compared with the 10 areas scoring lowest for life satisfaction.”
The Global Wellness Institute, the American not-for-profit body that empowers wellness worldwide, reported last autumn that the wellness real estate market almost doubled between 2017-2020, rising from $148 to $275 billion. This expansion is set to continue with many developments of this type now under construction globally. The global wellness market is now worth $1.5 trillion and is growing at 5%-10% a year, according to a study by the McKinsey consultancy published in January 2022.
KEY FINDINGS OF THE FUTURE OF A LIFE OF WELL-BEING OPINIUM SURVEY:
The Future of a life of well-being survey shows that many people (50%), and in particular Londoners (58%) agree that being recognised as a ‘local’ and feeling part of a community in their area improves their sense of well-being. Some 61% of Londoners agree that being able to engage with art, music and culture in their community also improves their overall sense of well-being.
The survey’s findings highlight the new importance of wellness activities and spaces in the choice of area in which to live. This is key for 69% of people and 77% of Londoners.
A lack of access to a support network of friends and family is the biggest source of stress, second only to a lack of basic medical care. A physical connection with other people reduces stress in the view of 73% of those surveyed; 71% said that they would experience less mental stress if businesses made physical connection with others easier and more pleasant.
To access the report please click here.
Notes to Editors:
Northacre was founded over 30 years ago by the Swedish architect Klas Nilsson, and with the single-minded vision to preserve and celebrate some of London’s most treasured addresses. Through an intrinsic understanding of luxury, where passionate attention to detail, knowledge and sensitivity is combined with an appreciation for craftsmanship, heritage and innovation; Northacre leads the way in creating exceptional living experiences in the most sought-after locations in London. Northacre celebrates its successful 30-year history in preparation for the next 30, creating beautiful spaces that will be cherished by generations to come.
About Orchard Place: Orchard Place at The Broadway, SW1: The wellness capital of London. A new contemporary lifestyle destination, set within a neighbourhood unlike any other, imagined to encourage wellness, nourish its community and reinvigorate Westminster. Curated with stylish simplicity, this blended lifestyle ecosystem will define a new era, where mind, body and soul are catered for in every way.
For further information, please contact Freya Boon at:
Luxury Marketing House:
+44(0) 7436 101010