The Challenge
Our Canadian client was looking for a London pied-a-terre. They had been looking at the market for two years and had come to the conclusion that a new build property along the Southbank would work well for their requirements. Due to the vast range of apartments being sold under differing circumstances, such as; off-plan units direct from developers, re-sales (or contract assignments) from off-plan investors, and then the newly completed units, this area of the market can be very hard to navigate. Not least understanding and gaining access to what is actually for sale and then identifying the most keen sellers and the most competitively priced units. In addition there is a large range in the quality of buildings and therefore values change considerably between building to building within a relatively small area.
The Perfect Conclusion
We identified a 31st floor 2 bed, 2 bath apartment in the One Casson Square building which is part of the new Southbank Place development. This is recognized as the highest quality development on the Southbank in terms of construction quality, interior design and facilities. This standard has historically only been found in more traditional prime central areas north of the river. The unit is just below the penthouse and provides expansive views over the river Thames and central London taking in many of the cities iconic landmarks. The unit was a contract assignment that had been reserved more than two years ago by the original purchaser. They were now very keen to exit their investment prior to completion to avoid paying the final 80% (of the purchase price) installment and the stamp duty bill. We were therefore able to step in with our client and purchase the apartment just prior to completion at a £165,000 discount on the original purchase price (equating to an 8.2% discount) for what is one of the best units in the development.
The Unfair Advantage
We understand the complexities of buying new build, and can identify good opportunities via contract assignments. We managed to not only identify one of the best units in the development, but also successfully saved our clients 8.2% from the original contract price.
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.
The Challenge
Our US client was looking for a London pied-a-terre. They had been looking at the market for a number of months and had conducted some viewings but had found the market difficult to navigate. They had concerns over pricing transparency and were unsure that they had gained access to the best opportunities in the Chelsea & Belgravia areas.
The Perfect Conclusion
Eaton Square is widely considered one of the top three addresses in prime Central London due to the attractive period architecture and immaculately maintained private gardens, all closely managed by the Grosvenor Estate. The most desirable properties are often sold off market and gaining access without professional representation can be difficult. We sourced a rare and impressive first and second floor duplex in one of the ‘key’ mid-terrace buildings on Eaton Square. Through our negotiation we then agreed a huge £1,000,000 discount from the asking price. Beyond the negotiation we were also able to introduce the clients to experienced advisors, essential due to the complex nature of how property is held and managed on the square, this included a leasehold enfranchisement specialist and building project manager.
The Unfair Advantage
We know the market intimately. We provided our client with sales comparables that are not available in the public domain and as a result, we negotiated a 14% discount from the asking price for a rare and impressive apartment on one the best streets in London. We made sure the client had all the necessary information and advice, in order for them to make an informed decision prior to exchanging contracts. This is important on an address such as Eaton Square, where the leasehold structures and management policies are relatively complex and far more comprehensive than your average street in London.
The Challenge
Our Indian client was looking for a family apartment in St John’s Wood that was not only close to where his family already owned, but it also had to meet with his complex Vastu requirements. Vastu shastra (vāstu śāstra) is a pseudoscience originating in India which literally translates to “science of architecture”. According to Vastu Shastra, the main entrance to a home is not only the entry point for the family, but also for energy. The main door should face the north, east or in the north-east direction. Trying to find an apartment that meets with Vastu requirements is incredibly challenging as most do not comply.
The Perfect Conclusion
Vastu requirements can sometimes be fulfilled in new build developments, particularly when buying off plan, as long as the developer is open to making changes to the layout. Our direct relationship with developers often means we gain access to opportunities early, allowing our clients to select the very best options, and make changes.
We identified a superb off market, new build development less than a two minute walk from where our client’s family live. One St John’s Wood is set to be one of the most luxurious new build developments in St John’s Wood. Amenities include a 20m swimming pool, gym, steam room, sauna, Jacuzzi and plunge pools, cinema room, private dining room, business lounge, club lounge, concierge and residents lobby, residents roof terrace and valet parking. Once completed it will be without doubt one the most compressively serviced buildings in St John’s Wood.
We analysed the block and its units and concluded that combining two smaller units would give our client the size of apartment that he needed and, just as importantly, a layout that could be re-organised to comply with Vastu. We were not only able to get the developer to agree to the amalgamation of the units and change in layout, but we were also able to save our client money from the asking price.
The Unfair Advantage
Our direct relationships with developers is unrivalled. Early access meant that we could cherry pick the best units for our client and negotiate layout changes which were vital to meeting our clients strict Vastu requirements.
The Challenge
Our British clients had been living in West London for over 20 years but had decided that they wanted to live somewhere with a stronger sense of community and also a location which would be more convenient for them to access their second home in Dorset. Their favourite area was Richmond Hill but they were concerned as to how little seemed to come onto the open market. They wanted a family home, with a minimum of four bedrooms, a good sized garden and preferably something which had been recently renovated.
The Perfect Conclusion
Through our strong relationships with the local agents in Richmond we were able to access a house which was available on the lettings market but not for sale. The house was located on the best road on Richmond Hill and matched the brief perfectly: it had four bedrooms, off street parking for two cars, a lovely garden and had been the subject of a ‘back to brick’ renovation only a few years ago. We managed to negotiate £100,000 from the asking price and contracts were exchanged within 4 weeks and just 5 days before Christmas. Crucially the house never came onto the open market.
The Unfair Advantage
With more and more sellers opting to sell ‘off market’ we have the network to make sure our clients have access to the very best opportunities.
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.
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.
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.
The Challenge
Our British clients were looking for a London pied-à-terre in Prime Central London that had both outside space and private off street parking. They were hoping to find a property that was “future proofed” from an accessibility standpoint, so either a lateral apartment or a low built house with not many stairs.
The Perfect Conclusion
We successfully negotiated the purchase of a stunning three bedroom, three bathroom, two story freehold mews house which had both a private garage and terrace located in the heart of South Kensington. The house is positioned on the corner of the mews so light floods in from two aspects, an important feature as mews houses can tend to suffer from being dark. In addition to being dual aspect, the private outside space and parking made this particular mews house quite rare and therefore highly desirable. Due to the strength of our relationship with the selling agent, they shared the knowledge that the vendor would, in two weeks’ time, be reducing the asking price from £4,000,000 down to £3,750,000. Even so we were still able to negotiate £350,000 from the reduced asking price, equating to well under £1750 per sq. ft. in an area where these size houses have achieved in excess of £2,500 per sq.ft. Our clients have also taken advantage of our Vacant Care Service to ensure the house is looked after and in the condition they left it every time they return home.
The Unfair Advantage
We provide a complete service – not only were we able to find this unique house and save our clients just over 9% from the asking price, we will also continue to look after the property post purchase via our Vacant Care Service.
The Challenge
Our repeat Hong Kong client was searching for a property with very specific requirements that are hard to achieve in the Knightsbridge area. The property had to be situated in a period building, with ceiling heights of at least 3m, but with no-one above the bedrooms. Apartments in the area generally have depreciating ceiling heights as you go up in the building, so there are very few flats on the top floors where this can be found. The building also had to have a lift.
The Perfect Conclusion
We successfully agreed the purchase of this stunning 2,050 sq ft duplex penthouse apartment with 3m ceiling heights and far reaching views across Knightsbridge. The apartment has been purchased shell & core, providing a blank canvas for our client to create a new unique space to their own taste. We negotiated £200,000 off the asking price, with the final purchase price equating to a rate of £2,097 per sq ft. Similar flats in good condition on the street have achieved as much as £3,346 per sq ft in the last 12 months.
The Unfair Advantage
We’re patient – despite very tough search requirements, we worked tirelessly over a 12 month period in order to source the right apartment for our client
The Challenge
Our Far Eastern client was looking to purchase an investment property in prime Central London in order to diversify their overall investment portfolio, take advantage of a weaker London property market and weaker pound. As first time buyers they had limited knowledge of where and what to buy, and current market values. We looked at a range of properties across multiple prime areas of London, educating our clients in the process.
The Perfect Conclusion
We successfully agreed the purchase of this immaculate three bedroom apartment overlooking one of the finest garden squares in Marylebone. The apartment measures just over 1200 square feet, spans two buildings, with six windows directly overlooking the gardens, and is a 10 minute walk to Selfridges and Marylebone High Street. Due to the strength of our relationship with the selling agent, we were first through the door to view the property, and submitted an offer within the first week of the property coming to market. We were able to negotiate a £200,000 discount from the asking price, equating to under £2,000 per sq. ft. in an area where the best properties are now selling in excess of £3,000 per sq. ft. Our clients have also taken advantage of our Property Management Service to ensure the property is seamlessly let-out on completion.
The Unfair Advantage
We provide a complete solution. As well as saving our clients 8% from asking price, we will also be managing the property to ensure it is rented to the best possible tenant.
The Challenge
Our clients were relocating from Belgium to London and whilst their longer term plan is to purchase a property it was felt prudent to rent a property for at least 12 months to allow them to get a feel for the varying neighbourhoods of the capital. Their brief was for a lateral apartment, with at least 3 bedrooms and a minimum of 2000 square foot. Our clients travel frequently and so easy access to Heathrow and a good sized lift within the building were important requirements. The budget was set at a maximum of £4000 per week.
The Perfect Conclusion
As our clients did not have a specific location in mind we previewed and shortlisted options all over prime central london: Mayfair, Belgravia, Pimlico, Kensington and St. James’s all had suitable properties however we identified a ninth floor apartment within a new development in the heart of Victoria which ticked all of the boxes. The property was 2695 square foot, had three bedrooms and two large terraces. It also benefitted from a concierge, underground parking and a large lift. The asking price was £3250 per week so well within the budget and we successfully negotiated this to £3000 per week which equated to a 8.3% saving for our client.
The Unfair Advantage
Our extensive knowledge of Prime Central London allowed us to advise and guide our clients as to the best possible locations for their tenancy.
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.
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.
The Challenge
Our U.S. client was looking for a secure pied a terre in London for personal use. They required a building in good condition, with a lift and porter that allowed dogs.
The Perfect Conclusion
We successfully agreed the purchase of this smart new build, two bedroom, 1,437 square foot flat, located in a boutique development of only 15 flats in Hampstead. Unusually for a new build the property has excellent ceiling heights, over 2.5m. We also successfully negotiated a £137,500 saving from the asking price which included underground parking and further benefits, like the installation of new electrical points and a full move-in demonstration with the developer.
The Unfair Advantage
We save you time – over 50 flats were inspected across North London as part of our search. Our clients were then presented with a shortlist of the very best opportunities during their short stay in the U.K.
