Location: London

Westminster Green

The Challenge

Our clients were looking to sell this smartly converted two bedroom apartment in Westminster. Current market conditions are proving a tough environment to sell in and several properties in the same building had been withdrawn from the market over the last 24 months without having achieved a sale.

 

The Perfect Conclusion

After several months of viewings and negotiations with more than one buyer, we successfully identified the right buyer for the apartment. Once the sale was agreed we managed the legal process carefully to ensure that contracts were exchanged within a short time frame of just four weeks.

 

The Unfair Advantage

We’re focused. Our Managed Sale Service is low volume and high quality which means we have the focus and dedication to deliver a successful sale, no matter how long it takes or how tough the market conditions.

Primrose Gardens

The Challenge

Our client’s instructed us to find them a three bedroom property with a large garden in a period building. They were very open to our advice as to differing neighbourhoods across the Capital, so initially we were looking from North West London to Richmond. However after several tours it became clear that Belsize Park, the area they were renting, was the preferred location. The main challenge was that their budget would not allow them to buy a house and most of the flats with gardens did not offer three double bedrooms.

 

The Perfect Conclusion

Having identified a wonderful two bedroom garden flat with planning permission granted to add another bedroom we found ourselves in a competitive bidding situation with another party. Despite putting forward the lower of the two bids our offer was accepted highlighting the strength of our relationships with estate agents and their preference to work with us over an unrepresented buyer.

We assisted our clients in obtaining detailed quotes from our extensive list of architects, builders and surveyors so they could accurately plan ahead and work out what would be possible, and importantly the costs to extend the property. This gave our clients the confidence to move ahead with the transaction knowing they would be able to create their ideal home by doing the work. 

 

The Unfair Advantage

We go the extra mile – our trusted network of architects, surveyors and builders added huge value to this transaction, giving our clients the confidence to move ahead. 

Cornford Grove

The Challenge

Our repeat British clients whom we had previously helped buy their son their first London property then came back to us again for assistance in helping their daughter. It was critical that the property be on a quiet residential street whilst still being close to shops and restaurants as well as being very close to the tube. It was also crucial that the property had a minimum of two roughly equal sized bedrooms and a garden. We showed them a number of options to help educate them on the market and what would work best. It became clear that we weren’t going to find what we were looking for on the open market. So thanks to our contacts and vision we ended up securing an off market, partially constructed, ground floor apartment with a large garden.

 

The Perfect Conclusion

Using our network of agents and our knowledge of the area we were able to preview an off market ground floor apartment before it was both officially launched to the market or completed. It matched our clients criteria perfectly. This gave our client an opportunity not only to see it before other buyers but also to have some input in the finishes. We were able to secure the flat £50,000 below the asking price at a highly competitive £752 per sq. foot. The going rate in the area for similar properties can be in excess of £875 per sq. foot.

 

The Unfair Advantage

Our contacts open doors. We were first in to see this apartment giving our clients first mover advantage in a highly competitive part of the market. 

Wycombe Square Refurbishment

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.

Seymour Street

The Challenge

Our client from Hong Kong was looking to invest circa £2 million into the London market. They had limited knowledge of the geography and market conditions in central London. We advised them to split the budget for the investment into two properties, rather than one, providing diversity of investment and stronger rental prospects. This is one of the two flats our client purchased on our advice.

 

The Perfect Conclusion

We successfully agreed the purchase of this brand newly completed one bedroom flat located in a block of only 27 private residential apartments. The building is regarded as one of the best to have been completed in the area within the last 24 months, with all units selling out off-plan. The building is finished to a very high standard with 24 hr security/concierge and underground parking. The property sold for the original contract price of £1,600,000, but the buyer failed to complete. Through our contacts we were quickly made aware of the opportunity to purchase at a heavily discounted rate before the property was released back onto the open market. We subsequently agreed the purchase at £1,150,000, a 28% discount from the original contract price.

 

The Unfair Advantage

We gain access to the best deals – an early heads up meant we were able to achieve an impressive 28% discount from the original contract price.

Halsey House

The Challenge

Our client from Hong Kong was looking to invest circa £2 million into the London property market. They had limited knowledge of the geography and market conditions in central London.

The Perfect Conclusion

We successfully agreed the purchase of this newly converted two bed two bath apartment located on a garden square in WC1 at £100,000 less than the asking price. The property provides good potential yield due to high demand for rental apartments in the area from a number of University students and law professionals studying and working locally. This is one of two properties purchased by our client. We advised them to split the budget for the investment into two properties, rather than one, providing diversity of investment and better rental prospects. The property is also two bed, two bath, a bonus considering most other new build or newly converted flats in the area at this price are one beds. We will be managing the properties on an ongoing basis, providing an end to end service from purchase through to management when the tenants are in-situ.

The Unfair Advantage

Knowledge is power – we successfully rented the property within a week of it coming to the market, resulting in a 3.5% gross yield.

Red Lion House

The Challenge

Our client was a sophisticated investor, already owning significant commercial and residential real estate assets in London. He had been looking for some time to acquire a family home in London, and did not want to pay the huge premium that comes with buying new build properties. He needed 4 to 5 bedrooms and at least 3000 square feet in Marylebone or Mayfair.

 

The Perfect Conclusion

We identified a freehold house in Mayfair, measuring just over 8500 square feet which was being sold by receivers. The house had previously been sold in 2014 for £19.175m. Once a famous pub, The Red Lion was shut down in 2009 and sold to a luxury developer, and initially had asking price of £25 million. With 6 bedrooms, 6 bathrooms, 2 receptions rooms, dining room, kitchen, media room, gym, swimming pool, roof terrace and an internal lift, the house met with every single one of our clients requirements.

The purchase price of £15 million, equated to a highly competitive £1748 per square foot. Unmodernised houses in Mayfair usually achieve over £2000 per sq. foot, and modernised houses often achieve well in excess of £3000 per sq. foot. Red Lion House was in almost new condition, so the price was extremely attractive. Of course, we were not the only potential buyers interested in the property, and we had to move quickly and demonstrate our ability to get on and do the deal in order to win the contract from at least two other interested parties.

The area immediately surrounding the property is interesting from a future investment perspective. On one side of the property business entrepreneur and billionaire John Caudwell is developing his own private residence of over 50,000 sq. feet, and on the other side he is developing a new luxury block of residential apartments – Audley Square which is due to be one of the most luxurious new build developments in Central London, with prices set to be in the region of £10,000 per sq. foot.

Finally, we are in discussions with our client regarding our Vacant Care Service to help look after and service our clients home for him when he is travelling.

 

The Unfair Advantage

Mayfair houses traded at an average rate of £2567 per square foot in 2018. We acquired Red Lion House at an astonishing £1748 per square foot, 32% below the market average.

Harman Drive

Our Client

A Nigerian based client who was looking to upsize from their apartment in Kensington to a semi-detached house

 

The Challenge

Our client was looking to relocate from busy Kensington to a more tranquil and quiet part of London. They were open to areas, but the property needed to have easy access to both Heathrow and Luton airports. Importantly our client wanted the master bedroom to either be located on the ground floor, or with very few steps leading to it.

 

The Perfect Conclusion

We identified a brand newly developed house on a quiet and sought after cul-de-sac in an area known as The Hocrofts. The house measured almost 4700 sq. feet and had an impressive 5 bedrooms and 5 bathrooms, all en-suite. Arranged over just 3 floors, with the majority of space on just two floors, it was the ideal solution for our client. The house originally came to market with an asking price of £3.85 million. It was then significantly reduced. We beat off competition from a corporate tenant to secure the property for our client and also managed to save them £75,000 from the reduced asking price. We paid an equivalent of £728 per sq. foot. Previous sales in the street have achieved £837 and £824 per sq. foot in 2017/16.

York House Managed Sale

Our Client

A trust based in Jersey that was looking to consolidate its property portfolio.

 

The Challenge

We were appointed by a Jersey based Trust company to assist in the sale of an apartment in prime Chelsea. Trustees find real value in our dedicated Managed Sale Service as it can be extremely difficult for them to co-ordinate a successful sale when not physically being based in London. It should have been a straightforward sale of a good sized one bedroom apartment in a very popular portered block moments from Sloane Square. However the leasees and the freeholder where in the midst of a major dispute over several section 20 notices and multiple planning applications which then lead to an ongoing court tribunal over enfranchisement. In an already challenging sales market, these unknowns posed a real issue for any potential buyer.

 

The Perfect Conclusion

Despite several challenges, we successfully found a buyer that was willing to take a view on not only the unknown level of works the building required and those related costs, but also the unknown outcome of the tribunal. In a challenging sales market, this was no mean feat and our clients were thrilled with the result.

Redcliffe Square

Our Client

A trust based in Jersey that was looking to consolidate its property portfolio.

 

The Challenge

To assist the trust in the sale of an apartment in Earls Court. It should have been a straightforward sale of a well-proportioned and recently renovated one bed apartment in a very popular garden square in Earls Court. However during the marketing of the flat the managing agents issued a notice for significant major works to the roof which had passed is useful life, the costs of which were a big unknown.

 

The Perfect Conclusion

We not only successfully negotiated with the buyer to offer within 2% of the revised asking price but also to take a view on the costs of the works.  This worked out at a most competitive £1,441/sqft especially when considering the two most recent comparable sales achieved only £1,267/sqft and £1,145/sqft respectively.

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.

Blenheim Road

Our Client

An English family looking to move from an apartment to a family house.

 

The Challenge

Our clients had lived in the Little Venice/Maida Vale area for many years. The combination of lower house prices combined with cheap lending gave them the motivation to upgrade to a larger family house, St Johns Wood being an area they had always dreamed of living in. With two older children living and working in London, the house needed to have the right balance of good bedroom and living space in order to give adults and older children the space to live under the same roof. The house needed to have at least 4 bedrooms, and be walking distance from the tube. Whilst initial research threw up around 30 potential houses, in reality, decent houses that were sensibly priced were far and few between.

 

The Perfect Conclusion

After an abortive transaction on a Grade II listed house where we discovered that the owners had failed to obtain the necessary planning consents, we finally managed to identify a much better alternative house within 3 months of being retained. We were the very first people in through the door to view a special house located on Blenheim Road. The house had been meticulously refurbished by the current owners who were relocating abroad and therefore extremely motivated to sell. With 4 bedrooms, all with en-suite bathrooms, ample entertaining and reception space, outside space and off street parking, the house met with every single one of our clients requirements. Our early viewing resulted in a week of negotiations and a price being agreed at well below the planned asking price of £4.75 million. We saved our client £350,000 or 7.3% from the asking price, equating to a very competitive £1600 per sq. foot. Recent house sales in the area have been achieving as much as £1865 per sq. foot. We also managed to get the seller to agree not to bring the property onto the open market, allowing our client the necessary time needed to exchange contracts without the pressure of another potential buyer coming along.

 

Castle Lane

Our Client

A family from the Middle East, looking for a second home in London.

 

The Challenge

Our clients were looking for a second home in London, as they spend considerable time in the city during school holidays. With 5 children, we were tasked to find a large 4 bedroom apartment in a secure modern or brand new build development. Proximity to the west end for shopping was also very important. The budget for the purchase was between £3 million to £3.5 million. Due to planning laws and the price of high quality new build in Prime Central London, 4 bedroom apartments are extremely hard to find at this price point.

 

The Perfect Conclusion

We identified an opportunity to join two apartments on the same floor in a brand new development, Castle Lane. Nestled in the historic Birdcage Walk Conservation Area of Westminster, Castle Lane is a rare, new boutique development of 28 meticulously crafted apartments and 3 townhouses.  By joining two apartments together, we were able to create a lateral 4 bedroom 4 bathroom apartment measuring almost 2000 sq. feet. As well as negotiating for the developer to carry out the work to join the apartments together, we also managed to save our client £250,000 from the asking price, equating to a purchase price of £1,962 per sq. foot. New builds regularly achieve in excess of £2000 per sq. foot in this location. 

 

Hoola Building

Our Client

Our client was a first time buyer in his twenties looking in East London.

 

The Challenge

The property had to be in a new build development with an onsite gym, concierge and have a minimum of two bedrooms. With a full on job and without an in depth knowledge of the market or the areas, our assistance was required to explore, educate and advise on both.

 

The Perfect Conclusion

We were able to secure a stunning 2 bedroom apartment with South facing views of the river and the city in a new development with all facilities he required. And with a new Crossrail station opening only 500m away we are confident that this apartment will not only make a wonderful home but also a very sound investment. We successfully negotiated £40,000 off the asking price (a 6% saving) equating to a very competitive £693 per square foot. 

 

Dalston Lane

Our Client

Our client was a first time buyer in his twenties looking in East London.

 

The Challenge

The property had to be new build (or in very good condition), with a minimum of two bedrooms. Working full time and without an in depth knowledge of the market, he needed assistance in navigating the market and unearthing the right opportunities at the right price.

 

The Perfect Conclusion

Black Brick found this brand new two bed duplex flat measuring over 1100 square foot, located less than 5 mins walk from Dalston Overground Station. We successfully negotiated £50,000 off the asking price (a 7.1% saving) equating to a very competitive £589 per square foot.