Location: London

Sloane Gardens

The Challenge

Our Canadian clients were looking for a pied-à-terre in Prime Central London that offered beautiful high ceilings, period details, green views and it had to be close to a tube station. They were only in London for a week and had limited time for viewings. Our clients knew and liked Marylebone, in particular because of the high street, but we felt that there were other areas worthy of consideration that were better value and would offer our clients more for their budget. 

 

The Perfect Conclusion

Although our clients had initially come to us wanting to purchase in Marylebone, we ended up securing them a fabulous apartment in Chelsea. The Cadogan Estate have in recent years taken a very active role in the re-development of the area around Sloane Square, with Duke of York’s Square and Pavilion Road under-going a complete transformation, the latest stage of which will be the arrival of Hotel Costes with its first hotel outside of Paris.

We successfully negotiated the purchase of a stunning off market, 1st floor, one bedroom apartment overlooking private communal gardens located just a minutes’ walk from Sloane Square station. The apartment has the ideal East to West aspect which gives the bedroom the light in the morning and living room in the afternoon. It has the most wonderful period details which include exquisite ceiling mouldings and parquet flooring. Despite being off market we were still able to negotiate a saving of £45,000 from the asking price.

 

The Unfair Advantage

Our relationships with agents gain us priority access. We viewed this apartment before anyone else. This enabled us to offer and agree a purchase price before it was launched to the open market, thereby avoiding competition from other buyers.

 

Oceanic House

The Challenge

Our South American client was looking for a new London home. They were already renting in the area and had identified a property which they liked, but needed specialist advice on pricing and negotiation. We were instructed by the trustees who wanted peace of mind that the client was purchasing the right property on the best possible terms.

 

The Perfect Conclusion

Oceanic House was originally the London headquarters of the White Star Line from which tickets for the RMS Titanic were sold. The handsome Grade II listed building has now been re-developed into 7 luxury apartments. Before engaging Black Brick, our client had initially wanted to purchase the show apartment. Often developers will “dress” the weakest apartment. We identified an alternative, more attractive flat in the same building which was larger, with a better layout and improved position. Through our negotiation we then agreed a huge £800,000 discount from the asking price, equating to just over a 19% reduction. The property was newly refurbished with a number of new appliances and services, we therefore introduced a specialist M&E surveyor who put together an extensive list of items which we made sure the developers had fixed in order for the property to be handed over in fully working order. This can often be a problem with new build apartments but we ensured our client will move in without the hassle of any snagging issues. The entire process was managed and overseen by us in order to protect our clients best interests. 

 

The Unfair Advantage

Buyer beware. Buying new builds can be very tricky. We know the market intimately, can identify more attractive properties and negotiate huge discounts for our clients. We identified a better apartment, saved our client 19% from the asking price and made sure there was no snagging issues when our client moved in.

 

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.

Ashley Gardens

The Challenge

Our clients had been trying unsuccessfully for more than a year to identify a suitable apartment to buy before instructing Black Brick to assist with their search. They had identified a very small area in Westminster where they wanted to buy an apartment. The area and style of property suited them for a number of reasons compared with more expensive surrounding areas, and they had narrowed their search down to one block in particular called Ashley Gardens. Property values and styles in Westminster mean that buyers are able to purchase large (in excess of 2000 square feet) lateral mansion block apartments for under £1300 per sq. foot. By way of comparison, a similar sized apartment in Belgravia would cost a minimum of £2000 per square foot. As a result competition can be fierce.

 

The Perfect Conclusion

Once instructed we managed to highlight a suitable opportunity in Ashley Gardens, prior to it coming to market, in the block they favoured. The flat worked especially well as it was located on the first floor, measuring 2200 sq. feet and had the unique appeal of having one of the largest balconies in the block. We were able to access the opportunity off-market, which enabled our clients to offer on the property without facing competition.

 

The Unfair Advantage

We gain access where others can’t. Our relationships with key estate agents in the area meant we were able to gain access to a special opportunity prior to it coming to market.

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.

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. 

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.

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.

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.