The Challenge
Our client is looking to diversify their wealth and build a buy-to-let portfolio in Central London. Our aim is to identify opportunities where we can buy 6 more units in order to both qualify for commercial rates of stamp duty but also secure decent discounts. The aim of the portfolio is to provide our client with a stable rental income and capital appreciation over the medium to long term.
The Perfect Conclusion
We successfully sourced this superb bulk discount purchase of multiple units in one of the best new builds to come to market in north central London in recent years. Islington Square was once formerly an Edwardian Royal Mail sorting office, and retains period charm and character combined with all the efficiencies of a new build. We negotiated aggressively and managed to secure a significant 17.75% saving on the asking price resulting in a 4.8% projected net yield (return on equity).
The Unfair Advantage
We have the expertise to source and negotiate excellent discounts in the best buildings for our clients. In this instance our client has been able to take advantage of the weaker pound, and a softer market, to secure an attractive discounted multiple unit purchase. Black Brick will manage the letting of the apartments, providing a seamless service at minimal stress to the client.
Our Client
An American Buyer.
The Challenge
Our American clients were looking for a long term investment situated between Islington and the West End. Their daughter was going to live in the apartment whilst working and living in London and needed to be able to rent a room out to a friend.
The Perfect Conclusion
Our knowledge and experience in having searched these locations for clients on many occasions allowed us to isolate very quickly the best investments in the market and to present the safest and best located options to the family. Having had an offer accepted on an excellent apartment in Islington and progressing the transaction very close to exchange of contracts, the seller then decided not to sell and pulled the contract. We were able to source an excellent alternative for the client in less than a week. Much to our delight, the family preferred the new property – a top floor, two bedroom apartment in a modern development measuring 1,263 square feet on a quiet turning very close to Highbury and Islington tube station. The apartment was one of only two of its kind in the development and had lovely light, lots of space and rooftop views. The apartment was bought for £1.25m, which equates to £989 per square foot.
The Client
An English Investor.
The Challenge
Our clients live in Islington and wanted to find a buy-to-let with good potential for capital growth in the same area. They know the area well and had already been looking but couldn’t find anything they liked. They were looking for a premium property for under market value at a time when the market was the busiest it had been since 2007.
The Perfect Conclusion
Black Brick successfully agreed the purchase of an immaculate upper maisonette with roof terrace on one of the most sought after addresses in De Beauvoir for £762 per square foot, where apartments on inferior roads were trading at closer to £1,000 per square foot at the height of the market. Having entered into a competitive bid situation with one other buyer, only a few days after the property came to market, we initially lost out to a cash buyer initially. However, our relationship with the agent and their full confidence that our client would perform allowed us to agree the sale after the original buyer didn’t act quickly enough.
The Client
An English first time buyer
The Challenge
Our client was a first time buyer, looking across numerous areas of North London and was unsure about how to approach this very competitive area of the market. The brief was for a two bedroom flat, in good condition with period features, close to transport links and preferably offering some outside space. As the client would initially be living alone security was also important. We sourced a charming and spacious upper maisonette with its own private garden, close to shops and a 30 second walk from a train station. After the first day of viewings the agent had multiple offers.
The Perfect Conclusion
We managed to secure the property against three other bidders. The way in which our offer was put forward and negotiated with the agent, along with our knowledge of the market and advice to the client meant we agreed the purchase with a period of three weeks exclusivity in order to exchange contracts.
