London’s Luxury Olympic Rentals

Photo: Barry Winiker | Photolibrary | Getty Images London is home to some of the world's most opulent hotels, but with five-star rooms in short supply during the Olympic Games this summer, wealthy visitors are increasingly turning to private homes to meet their accommodation needs.An estimated 500,000 extra visitors will travel to London for the Olympic Games this year, and with the majority of city's top hotels fully booked or charging extortionate rates for their very best rooms, renting a beautiful home in one of London's most desirable districts can prove to be the more economical option.One company making this possible is Onefinestay.com, it bills itself as an “unhotel,” taking peoples private homes while they are out of town and making them available to visitors into the city, thereby offering vacation properties with the luxury touches that guests would expect from a top hotel.Guests are greeted on arrival, bellhops on scooters are available 24/7, linens, wifi and the use of an iPhone full of local listings come as standard but guests can request a number of extra services including a daily maid service, airport pick up, taxi service or even a private chef.Other famous realtors like Foxtons, Savills, Knight Frank and Glentree are also offering luxurious short-let properties over the Olympics, with some homes being rented specifically for this period by owners keen to cash in on the high demand.Demand for property during the Olympics has exceeded levels seen during other big events in the capital, including Wimbledon and the Royal Wedding.Greg Marsh, CEO of Onefinestay told CNBC, “we are expecting the company to be busier than it has ever been during July and August this year and we have been taking Olympic bookings now for well over nine months.”Jemma Scott, head of residential corporate services at estate agency Knight Frank, said: "It is utterly unique and a very exciting time. I have never seen anything like it. If you take the buzz that surrounds short-term rentals in Wimbledon each year and multiply that by a thousand you might get some idea of the Olympic market."As seen at the Beijing Olympics in 2008, higher rental demand is leading to higher prices. The most expensive Olympic rental in London is Brick Street in Mayfair, through estate agent Knight Frank. According to reports by the Daily Mail at £100,000 ($158,000) per week it is 150 percent higher than the usual price of £40,000 ($63,000).Greg Marsh expects Onefinestay’s properties to be around one and a half to two times the usual price but this is conservative compared to other high-end properties that are known to be going for up to four times their usual rate.Click ahead to see some of the most luxurious Olympic rentals that London has to offer this summer. By Bianca SchlotterbeckPosted Feb 24nd

Photo Courtesy: Onefinestay Location: HampsteadPrice: From £1,835 ($2,896) per nightBedrooms: 5Bathrooms: 4Frognal is a Grade II listed house — which means it has been placed on the U.K.’s Statutory List of Buildings of Special Architectural or Historic Interest — that dates back to the 19th century and is available to rent during the Olympics for one and a half to two times the usual price through Onefinestay.com.The owners have renovated their home with great attention to detail, from the handcrafted skirting boards (polished from old church rafters) to the custom-made mahogany staircase.The home is located in Hampstead, an area of London known for its intellectual, artistic, musical, and literary associations, and for the large and hilly parkland Hampstead Heath. It is also home to some of the most luxurious housing in the London area, with large houses regularly listed for sale at more than £20 million ($32 million). The village of Hampstead has more millionaires within its boundaries than any other area in the U.K.

Photo: Foxtons Location: Angel, IslingtonPrice: £50,000 ($78,925) per weekBedrooms: 6Bathrooms: 6Having been recently refurbished, this seven-bedroom maisonette (including a two-bedroom, self-contained flat above) combines original features with a living area and entertaining space.Located in London’s young and trendy Angel district, Cross Street is set over four floors (with a lift joining them). The property comprises a 65-foot living space on the first floor with part double-height ceilings and exposed beams. It includes an open-plan kitchen, utility room, two double bedrooms (one with en suite shower room) which unfold onto a private courtyard, master bedroom with dressing room and an en suite bathroom, a further two double bedrooms, two shower rooms, a roof terrace with panoramic views over London, and outdoor heating and water features.The self-contained flat can also be accessed via the lift and includes a 30-foot reception room with open-plan kitchen and utility room, master bedroom with en suite shower room, and a second bedroom and bathroom. It is available to rent during the Olympics through Foxtons.

Photo courtesy: Onefinestay Location: KnightsbridgePrice: From £1,499 ($2,366) per nightBedrooms: 3Bathrooms: 2Situated alongside London’s Royal Albert Hall, with views of Hyde Park, Albert Hall Mansions was erected in 1879 by celebrated architect Norman Shaw. Described by the agents as a “building designed to cause a sharp intake of breath,” the home features Corinthian pillars, stained glass, and chandeliers greet you in the hallway, which leads into two reception rooms, both with park-facing terraces.Owned by a German couple, the property is being rented during the Olympics by Onefinestay, for one and a half to two times the usual price. The company provides a 24-hour concierge service and asks owners to leave a list of recommendations of interesting things to do in London. Several other services are also available on request including airport pickup, a taxi service, a daily maid service or a private chef.

Photo courtesy: Onefinestay Location: Notting HillPrice: From £799 ($1,261) per nightBedrooms: 4Bathrooms: 2Blenheim Crescent is described by Onefinestay.com as a “large home that zings with fun, from the purple velvet sofas to the girly haven on the top floor.” Located in London’s fashionable and exclusive Notting Hill, notable features include a large living room with a grand piano, large private garden, and access to a communal garden.The company provides several services to guests staying in the property including a maid service, linen, towels and toiletries hairdryers and free wifi. Other services such as a daily fridge fill are available on request.

Photo courtesy: Glentree Estates Location: HampsteadPrice: £25,000 ($39,462) per weekBedrooms: 9Bathrooms: 8Courtney Avenue is known as one of the most expensive streets in Britain, where houses cost on average £7 million ($11 million) to buy. The gated cul-de-sac, located near Hampstead Heath and Kenwood House, contains this large house, available to rent during the Olympics.Described by the agent Glentree Estates as a “once-in-a-lifetime opportunity to rent one of the most prestigious properties on the market,” the house has two separate elevators, an indoor swimming pool, gym, a solarium, a steam and sauna room, an award-winning landscaped garden, a roof terrace, and separate staff quarters and 24-hour security. The agents told CNBC.com that prices are not adjusted for specific events like the Olympics.

Photo: Onefinestay Location: Holland Park AvenuePrice: From £1,424 ($2,247) per nightBedrooms: 4Bathrooms: 3Built in 1827, with a lot of original features, including the windows, doors, and staircase, this four-bedroom house has been recently restored by its owners. Located in Holland Park, an affluent and fashionable area known for attractive terraces of large Victorian townhouses, it is being rented throughout the Olympics by Onefinestay.

Photo courtesy: Glentree Estates Location: HampsteadPrice: £5,500 ($8,690) per weekBedrooms: 6Bathrooms: 2The average property prices on Bishops Avenue surpassed £1 million ($1.6 million) in the late 1980s and each property occupies a two-acre to three-acre lot. In 2006, the smallest houses on the street were selling for £5 million ($7.9 million). Turkish tycoon Halis Toprak’s 30,000-sq.-ft. (2,800-meter) mansion, sold amid great secrecy to the president of Kazakhstan, Nursultan Nazarbayev, for £50 million ($100 million) in January 2008, making it one of the most expensive houses in the world, as listed by Forbes magazine.The avenue is therefore widely referred to as “millionaires row” but this spacious property can be rented at its usual price over the Olympics through Glentree Estates for £5,500 ($8,690) a week.

Photo: OneFineStay Location: KnightsbridgePrice: From £1,072 ($1,692) per nightBedrooms: 3Bathrooms: 2Furnished in the style of the high Regency, Lennox Gardens is a three-bedroom house located in Knightsbridge, just a step away from London’s famous Harrods department store. Once inside, you’ll find cornices, high ceilings, and large windows, as well as an array of antique furniture. Onefinestay describes the drawing room as “almost palatial in its splendor, with oil paintings, a working fireplace, and French doors that open out onto a charming balcony.”

Photo: Onefinestay Location: WestminsterPrice: £599 ($945) per nightBedrooms: 4Bathrooms: 4Old Queen Street is situated just one minute away from the prime minister’s residence 10 Downing Street, and just across from the Houses of Parliament in the borough of Westminster. This four-bedroom house, owned by a Lord and Lady, contains a media room and a more formal drawing room. It is available during the Olympics through Onefinestay.com.

Photo: Savills Location: ChelseaPrice: £52,000 ($82,082) per weekBedrooms: 7Bathrooms: 5This luxurious property in the affluent borough of Kensington and Chelsea has four reception rooms and seven bedrooms over three floors. It also contains a gym, staff accomodation, a garage, an Italianate garden, and a roof terrace. It is available for short-let through the Savillsagency.

Photo: Foxtons Location: WestminsterPrice: £60,000 ($94,710) per weekBedrooms: 7Bathrooms: 6Located in Maida Vale close to Regent’s Park, this seven-bedroom house, up for rental during the Olympics through Foxtons, is arranged over four floors. It features spacious rooms, bright interiors, private off-street parking for up to seven cars, a large private garden to the rear, and a large outdoor swimming pool.

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