Our client was looking for a 3 bedroom apartment in a new build development to hold as a long term investment. The budget for the purchase was £2,000,000.
We identified a rare opportunity to purchase a stunning, sub-penthouse apartment in the popular Lillie Square development from a distressed seller who could no longer complete. Lillie Square will be one of the most high-profile residential developments in London, transforming a 7.4 acre car park on Seagrave Road into 808 high-end new homes offering modern garden square living. The seller, having originally exchanged contracts at £2,074,000, wasn’t able to complete on the purchase and as a result we were able to agree terms on the contract at £1,700,000, some £374,000 or 18% below the original contract price. Three bedroom apartments in this scheme and on this floor have traded at £1,714/sqft, we secured this for our client at at a highly competitive £1,352/sqft.
We buy below market value and can identify highly motivated sellers. At £1,352 per square foot, we acquired the property for 18% below the original contract price.