Result: Good Saving

Queensberry Mews West

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.

Pont Street

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

Montagu Square

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.

Victoria Street

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.

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.

Netherhall Gardens

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.

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.