Luxury estate agency has shut its Knightsbridge office as London’s prime property market goes through challenging period.
10th Apr 20260 1,374 1 minute read Simon Cairnes
Harrods Estates has closed its last office in Brompton Road, Knightsbridge, ending more than 130 years in residential agency after the business was wound down following the expiry of its lease.
Shaun Drummond Residential Director, Harrods Estates
Residential Director, Shaun Drummond, says: “This decision has been made in line with the wider Harrods Group strategy to focus on its core proposition of luxury retail, catering for clients and customers within the Knightsbridge store and online.”
A Harrods spokesman has confirmed that arrangements have been put in place to ensure there would be no impact on the agency’s existing clients.
Weak demandIt comes at a time of weakening demand in London’s prime market, with rising Stamp Duty – including rates of up to 19% for overseas buyers – and the abolition of non-dom status seriously impacting international interest and investment.
According to Savills, the average prices for homes worth more than £4.5million in prime central London fell by as much as 4.8% in 2025.
The scandal over all the allegations surrounding Mr Fayed didn’t help the business.”
Rosy Khalastchy, Director, Beauchamp Estates
Rosy Khalastchy, a director at Beauchamp Estates, told The Times: “The scandal over all the allegations surrounding Mr Fayed didn’t help the business.”
She added: “The other big change was that, in the last ten years, Knightsbridge has dropped from being the most fashionable and sought-after luxury address in London to being overtaken by Mayfair and Belgravia.
“The younger generation of buyers from the Middle East, unlike their parents and grandparents, no longer just wanted to live five minutes’ walk from Harrods and use Harrods Estates as their local London estate agent.”
TagsHarrods Estates Knightsbridge 10th Apr 20260 1,374 1 minute read Simon Cairnes Share Facebook X LinkedIn Share via Email