For years wealthy buyers and tennants have wanted to live as near as possible to the department store, Harrods.
There are huge spikes in property prices around the department store with the average value for all residential properties sold between 2011 and 2014 within a five minute walk of Harrods hitting £2,149 per sq ft, according to high end property agents, Harrods Estates
The "Harrods effect" drives a 133pc price premium over the London average of £921 per sq ft.
It is also a 20pc price premium over the Knightsbridge area average (£1,786), the new report found.
Typical buildings around the store include second-hand mansion buildings along One Hans Cresent and Brompton Road, but also a series of ultra-luxury new developments including Trevor Square, The Knightsbridge, One Hyde Park and No.1 Hans Cresent.
2. Buckingham Palace
3. Royal Albert Hall
4.The Chelsea Flower Show site
5. Lords cricket ground
6. The Savoy
7. London Zoo
8. Hampstead Heath
10. Nelson's Column
11. Libertys of London