Area: Kensington
Cheniston Gardens
Abingdon Road
The Challenge
Our international client had purchased a house in Kensington for family use more than 10 years ago but it was no longer required. He was keen to sell despite the fact the sales market was extremely challenging given the uncertainties over the Brexit outcome. The property had been vacant for some time and there were a long list of outstanding maintenance issues which needed to be rectified.
The Perfect Conclusion
With our many years of experience we knew it was crucial that the house was presented in its best possible state before any viewings from potential purchasers were allowed to commence. We worked through the maintenance issues and also recommended that our client use the services of a professional staging company who then furnished the entire house with stunning furniture and art. Once this first stage had been completed we then made our network of fellow buying agents aware that the property was available off market.
We received an acceptable offer from only the second viewing at the house with a completion date set for April 2020. Unfortunately this was during the coronavirus crisis but we were able to ensure that completion happened without any delay.
The Unfair Advantage
Our many years of experience and unrivalled network allowed our client to achieve an off market sale in a very challenging market from just two viewings.
Trafalgar Gardens
The Challenge
Our Italian client was looking for a secure pied a terre in Kensington. They had already identified a property which they liked, but needed specialist advice on value and negotiation. Being based overseas they also wanted someone on the ground who could communicate more efficiently with the sellers, and who could subsequently provide ongoing management of works and a key holding once the purchase had completed.
The Perfect Conclusion
We successfully agreed the purchase at £150,000 less than the asking price. We have overseen the legal process and introduced best in class surveyors and building contractors to assist with advice on future works. The whole process has been managed and co-ordinated by us, reducing any risk of potential loss of time and escalating costs due to the client being busy and based overseas.
The Unfair Advantage
We have strong relationships built over decades. Our relationship with the estate agent meant we were able to save our clients 7% from the asking price.
Young Street Multiple Units
The Challenge
Our clients were looking to invest into the prime Central London property market for wealth preservation and diversification. They viewed the market as a good time to enter, given the fall in property values and depreciation of sterling, effectively giving them a 37% discount compared to buying in June 2014. They were mid to long term investors, looking for a combination of capital appreciation and rental return. They were initially open new build, freehold blocks and individuals units across multiple prime areas. Their goal was to buy a minimum of 6 apartments for within their budget.
The Perfect Conclusion
We spent time with our clients, educating them on different parts of London, pricing and rental yields. Eventually we successfully sourced this superb bulk discount purchase of multiple one bedroom units in one of the best new build boutique developments in Kensington. On account of our negotiation the client has secured a significant saving resulting in a 3+% projected gross yield. We will continue to assist our client in securing suitable tenants and managing the portfolio of properties via our dedicated Property Management Service.
The Unfair Advantage
We negotiate hard. Bulk deals give us greater leverage. We saved our clients a record discount for this particular development.
Kensington Court Gardens
The Challenge
Our clients had been renting in London for more than 10 years but felt that the market conditions had changed so significantly that it was now the right time to buy their own home. They wanted a lateral apartment, in Kensington and Chelsea, of at least 2300 square foot within a mansion block that benefitted from a good sized lift. Their budget was circa £3.75m and they were happy to undertake a project if it made financial sense.
The Perfect Conclusion
The combination of our client’s exacting requirements and the lack of good quality options both on and off the open market meant that we undertook once of the longest searches in Black Brick’s history. 2 years after we started the search we identified a stunning apartment of more than 2700 square foot on the first floor of one of Kensington’s best mansion blocks. The property had not been modernised for 40 years and only had 11 years remaining on the lease. We used our extensive network to conduct an independent valuation as to the likely cost of extending the lease and sought advice as to whether our client’s proposed refurbishment would be permitted. On the basis of our research we put forward an offer and agreed terms with the seller at £1.35m which was £350,000 or 20.5% off the asking price.
The Unfair Advantage
We are patient – we work with our clients for as long as it takes to find the perfect property.
Wycombe Square
The Challenge
We were instructed on behalf of a trust to sell this large freehold house which had a complicated history and was close to becoming a receivership sale. The property was in a very poor state of repair and there were no funds available to arrange a refurbishment.
The Perfect Conclusion
We understood that time was of the essence and so reached out to our carefully curated network of contacts which includes buying agents, private banks and other professional intermediaries. Within 8 weeks of being instructed on the sale, we had agreed terms with a suitable buyer who was keen to remodel the house to their own specifications. Contracts were exchanged 3 weeks later.
Our client commented:
‘It has been a pleasure working with Black Brick, and in particular I would like to thank Caspar for his dedication, persistence and unwavering commitment to getting this deal over the line! We shall be sure to keep you in mind for future property transactions in the London area.’ Trustee, Isle of Man.
The Unfair Advantage
Experience is key – over 80 years combined property experience allowed us to deal competently and confidently with a very complicated sale. Despite a challenging sales market, we achieved a successful sale within 8 weeks of being instructed.
Allen Mansions
The Challenge
Our repeat client who we originally sourced an apartment for in Allen Mansions was looking to sell their private parking space having secured alternative parking elsewhere for their car collection. The space was located within an enclosed garage, fully fitted with power outlets and automatic gate access. Prior to creating a marketing brochure, we oversaw a light refurbishment of the space. Selling a car parking space on its own will naturally only appeal to a limited set of buyers.
The Perfect Conclusion
We reached out to our network of other buying agents, local agents in the area and also used social media to advertise the space. Within 24 hours of being instructed, we received an offer at the full asking price from a resident of the building.
The Unfair Advantage
We think outside the box. By using social media, we raised awareness of this unique opportunity and secured a buyer at the full asking price within 24 hours.
Fordham Court, De Vere Gardens
The Challenge
Our clients were looking to sell their London pied-a-terre which they were no longer using due to relocation. The property was a newly refurbished two bedroom apartment, measuring 828 square feet on the third floor with a lift located on a highly desirable street, just off high Street Kensington. There is a shortage of motivated, credible buyers in the current market, so negotiating a high sales price can be extremely difficult, and our clients, understandably wanted to achieve the highest sales price possible.
The Perfect Conclusion
Through our network of introducers we were able to find a buyer who already lived in the area and wanted to buy an apartment for their mother. We successfully agreed the sale at £1,760,000, which is premium rate for the building, equating to £2,125 per square foot. As our clients were overseas, managing the deal process on the ground was crucial. We liaised regularly with solicitors, surveyors and valuers on both sides to ensure a smooth and successful sale.
The Unfair Advantage
We know how to hunt out the best buyers. Even in a challenging sales market, quality properties still sell well.
Bedford Gardens
Our Client
An English couple with a growing family looking to upsize to a larger family home.
The Challenge
Our clients had been living in a beautiful apartment in Kensington but with a growing family decided that they wanted to buy a house in the same area. They were very focused on identifying a property where they could add value and so were open to the idea of buying something which required a significant amount of work. Initially our clients had started the search themselves but had become increasingly frustrated with the lack of good quality stock combined with the unrealistic price expectations of many sellers in this area of London. They engaged Black Brick to take over their search.
The Perfect Conclusion
Through our network we were introduced to an off market house on Bedford Gardens in Kensington which had been owned by the same family for many years. The family had successfully applied for planning permission which allowed for the house to be almost doubled in size through a basement extension, developing the side and rear of the ground floor level as well as a loft conversion. The property had an asking price of £5,950,000 however as a result of our negotiations we were able to secure a discount of £1,100,000 (or nearly 19%) and contracts were exchanged at £4,850,000.
St. Mary’s Gate
Our Client
A previous Black Brick client.
The Challenge
In 2009 we sourced this stunning freehold house located in a prestigious Kensington development for £5,440,775 or £1752 per square foot. In 2014 our clients bought a larger, unmodernised property in Belgravia through Black Brick which, once completed, would become their primary residence. With the new home ready for occupation we were instructed to sell the Kensington house.
The Perfect Conclusion
In a very challenging sales market we agreed terms with an Italian buyer at £6,5000,000 or £2093 per square foot which equated to a 20% increase in capital value for our client during the period of his ownership. The transaction was very complicated and eventually took over 9 months to reach a conclusion during which time the buyer sought to renegotiate the price which had been agreed. We successfully managed to avoid the price renegotiation and contracts were exchanged at the agreed level.
Wycombe Square
Our Client
A Russian client looking for a one bedroom apartment to rent in central London
The Challenge
Our client instructed us to find a one bedroom apartment in Kensington. The property had to be within a modern, gated development with 24 hour concierge and security. His budget was £750 per week.
The Perfect Conclusion
There are a limited number of gated developments in Kensington. Our knowledge of the area enabled us to shortlist those developments which would provide the accommodation and services our client required. The best property we identified was located within Wycombe Square which is a boutique development of apartments and town houses benefitting from 24 hour security and concierge. The property was listed at £850 per week (and had been previously let for £900 per week) but we agreed terms with the landlord at £725 per week- a saving of 15% for our client.
Mathison House
Our Client
A Middle Eastern family.
The Challenge
Our clients were looking for a secure family pied a terre in central London. They had limited knowledge of the city, it’s diverse residential market, and only plan to be in London for a small proportion of every year; making security a paramount requirement for them.
The Perfect Conclusion
We added value to our client by showing them a wide variety of different styles of property – period conversions, mansion blocks and new builds, across a large area of London which helped them to understand the market and ultimately make an informed decision.
We successfully agreed the purchase of this attractive dual aspect 2 bedroom apartment in the highly regarded Kings Chelsea development. Formerly the site of Kings College, the Kings Development is a Grade II listed building set in 7.5 acres of walled parkland which was converted into 289 houses and apartments in 2005. The beautifully restored old buildings in the development and finely crafted new apartments are always in high demand for the discerning buyer in Chelsea looking for exceptional specification and generous living space. The site is a precious part of London’s heritage, yet it has been adapted to the needs of a new generation of Londoners, all in a landscaped parkland setting. 24 hour security, total privacy, the prime location and an array of facilities make Kings Chelsea a unique and highly desirable proposition for buyers and tenants alike.
Further facilities include a gym, swimming pool, tennis courts, manicured gardens and underground parking. The flat itself has the advantage of being located in the best building within the development, housing the facilities and the concierge desk.
Phillimore Gardens
Our Client
An international family with 4 children.
The Challenge
Our client was looking to move to London with his family on a permanent basis. He wanted a large detached home with a great view that was walking distance from a high street whilst still being quiet and private.
The Perfect Conclusion
We spent a considerable amount of time at the beginning of the search introducing our client to a number of different areas within London to see which would be most suitable. As the search developed it was clear that St. John’s Wood and Kensington would be the most appropriate and through our unrivalled network we identified a beautiful off market house on one of the best streets in Kensington walking distance from the High Street. The house also benefited from stunning views across Holland Park and even a private gate allowing access directly into the park itself.
We saved £2,000,000 from the asking price and contracts were exchanged within 15 working days.
Young Street
Our Client
Singaporean family with children.
The Challenge
Our Singaporean client was looking for a secure pied-a-terre in Central London. As their children are due to start school in the UK, it was important that the property was located in a secure development with 24 hour porter and/or concierge services as there would be times when the children might be in the property alone.
The Perfect Conclusion
We researched a number of gated developments in our clients preferred area of Kensington and set about highlighting units that suited their requirements. With little stock on the open market, we also made private approaches to owners and residents who were not openly looking to sell. We identified 21 Young Street, a new off-plan development by Grainger PLC, in a prime location just off High Street Kensington and Kensington Gardens. This boutique development has just 53 apartments and will benefit from 24 hour concierge, residents gym, screening room, library and gardens and continued on-going investment from Grainger through the retention of certain units.
The development has seen a huge amount of interest since the launch with very little open marketing and we were one of the very first into the scheme. We successfully purchased a 3 bedroom 1690 square foot duplex Mews house style apartment and negotiated £50,000 from the asking price and managed to get a secure parking space included. It was the perfect development for our clients, meeting every single one of their requirements.