Savills Strengthens Super Prime Lettings as Ultra-Wealthy Demand Surges

Savills has reinforced its position in London's ultra-high-end lettings market by completing the acquisition of Mark Tunstall's independent super prime agency, with the veteran specialist returning to head the division he originally founded at the global property giant in 2011. The strategic move comes as demand for premium rental properties exceeding £10,000 per week reaches unprecedented levels, driven by international relocations and wealthy investors seeking flexibility in an uncertain economic climate.

Tunstall's return represents a significant coup for Savills, which has watched competitors including Knight Frank and JLL aggressively expand their super prime operations over the past three years. His original team at Savills captured approximately 35% of all lettings above £5,000 per week in prime central London before his departure, establishing the blueprint for today's ultra-luxury rental market. Industry sources suggest the acquisition cost runs into seven figures, reflecting the premium attached to proven expertise in this highly specialised sector where individual transactions can generate fees exceeding £100,000.

The timing proves particularly astute as London's super prime lettings market experiences its strongest performance since 2014. Rental values for properties exceeding £15,000 weekly have surged 18% over the past 18 months, with inventory levels remaining critically low across Mayfair, Belgravia, and Knightsbridge. American technology executives, Middle Eastern families, and European ultra-high-net-worth individuals increasingly favour short-term luxury rentals over purchases, creating sustained upward pressure on rates and commissions.

This trend extends beyond central London, with Manchester's luxury apartment developments in Spinningfields commanding weekly rents approaching £3,000, whilst Birmingham's premium rental stock struggles to meet demand from relocated executives. However, the super prime segment remains concentrated in the capital, where properties featuring private lifts, security details, and concierge services represent a distinct asset class requiring specialised handling and international networks that independent agents cannot easily replicate.

For buy-to-let investors, Tunstall's appointment signals continued institutional confidence in London's luxury rental market despite broader economic headwinds. Properties capable of commanding super prime rents - typically requiring £5-15 million acquisition costs - continue attracting sovereign wealth funds and family offices seeking sterling-denominated assets with inflation-protected returns. The appointment suggests Savills anticipates sustained demand growth, particularly from technology sector relocations and geopolitical displacement driving wealthy family migrations.

Looking ahead twelve months, the strengthened Savills operation will intensify competition for prime stock, likely driving acquisition prices higher as agents compete for exclusive mandates. Developers focusing on ultra-luxury schemes in Nine Elms, King's Cross, and Canary Wharf stand to benefit from enhanced marketing reach, whilst smaller letting agents may find themselves squeezed out of high-value transactions. The consolidation trend exemplifies broader market maturation, where scale, international networks, and specialised expertise increasingly determine success in London's most lucrative rental segment.

Savills' strategic investment in super prime lettings expertise demonstrates clear confidence that London's position as a global wealth magnet remains intact despite political uncertainties and tax policy changes affecting non-domiciled residents. With rental yields on super prime properties averaging 2.8% - seemingly modest but supplemented by substantial capital appreciation potential - the segment continues attracting serious institutional capital. Tunstall's proven track record and established client relationships position Savills to capture an outsized share of this growth, reinforcing London's luxury lettings market as a critical profit centre for major property consultancies.