Result: Good Saving

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. 

 

Abbotsbury Road

Our Client

Our clients were an Asian/Australian family looking to purchase their first family home in central London.

 

The Challenge

Since moving to London from Australia three years ago they had been in rented accommodation in the Holland Park area, and with a baby on the way, had decided they wanted to put down some proper roots and buy a permanent home. The market in Holland Park and surrounding areas for sensibly priced and well located properties in the £2m to £3.5m range is severely limited. Good properties often sell before coming onto the open market and competition is rife.

 

The Perfect Conclusion

Due to our excellent contacts with the right local agents, we were first in the door of this beautifully presented 3 bedroom freehold house, measuring almost 1800 square feet and with the added benefit of secure off street parking and south west facing garden. Abbotsbury Road is one of the most sought after roads in W14 and is located directly opposite Holland Park, making it an ideal family location. We managed to agree the sale during the first week of marketing, and also successfully negotiated a £205,000 discount from the asking price.

 

Chepstow Road

Our Client

Our client was looking for a three bedroom property with a garden suitable for pets.

The Challenge

The property had to be within walking distance of an apartment their staff were currently renting. This meant we were searching within a very small radius. In addition, finding properties with Landlords that are happy to allow pets can be a challenge.

The Perfect Conclusion

We successfully agreed the rental of this attractive townhouse on Chepstow Road at £600 less than the monthly asking price, saving our clients an impressive 7% from the asking price rent. As part of our negotiations, we also managed to get the landlord to agree to carry out a light refurbishment before our clients moved in, and arranged for a garden landscaping company to work on the garden. This involved speaking to relevant contractors, arranging quotes and securing the best price, all as part of our service.

 

Heathview Gardens

Our Client

A British client looking for a family home.

 

The Challenge

Our client wanted a large, detached house in South West London. Their ideal property needed to be very private, not overlooked and with a secluded garden. With three dogs, access to open spaces within walking distance from the property was also an important requirement. They had previously been under offer on another property in Wimbledon for £6.5 million, but had lost confidence in both the property and the price being paid, and so engaged us as their buying agent to provide proper guidance and advice.

 

The Perfect Conclusion

We spent time educating our client on various desirable areas in South West London, working out what was important to them and what wasn’t. We identified Putney as a suitable location, and one that would offer our clients better value for money than more expensive Wimbledon. Through our network of contacts we identified an off market house in Heathview Gardens. The front of the house had uninterrupted views across a cricket pitch with a stunning, private 90 foot west facing garden to the rear. Heathview Gardens is located on Putney Heath, surrounded by woodland with Wimbledon Common and Richmond Park easily accessible. Crucially we managed to save our client £300,000 or 5.1% from the asking price concluding the purchase at £5,500,000 or £935 per square foot.

Fitzrovia Apartments

Our Client

An Indian client looking for a two bedroom apartment to rent in central London.

The Challenge

Our client instructed us to find his daughter a two bedroom apartment between her University at St Martins and Marylebone. It was critical that the property be within a modern, secure development with 24 hour concierge, security and be very close to the tube.

The Perfect Conclusion

Our knowledge of the area enabled us to shortlist those developments which would provide the accommodation and services our client required. The best property we identified was located within Fitzrovia Apartments which is a small development of apartments next to Great Portland Street tube station which benefits from 24 hour security and concierge. The property was listed at £850 per week (and had been previously let for £900 per week unfurnished) but we agreed terms with the landlord at £800 per week furnished – a saving of nearly 6% for our client.

Barts Square

Our Client

British clients looking for a London pied-a-terre.

The Challenge

Our client was an extremely time-poor senior executive, living with his family outside London but seeking a pied-a-terre to use during the week and on children’s holidays. The flat needed to be a secure lock-up and leave, providing easy access to our clients office in the City and local transport links

The Perfect Conclusion

We successfully sourced this off-plan 2 bedroom apartment measuring 907 square feet on the 2nd floor with views over an internal courtyard garden. The apartment also benefits from a balcony and is due for completion at the end of 2017. Bart’s Square is a new-build apartment block in a vibrant mixed-use development around the corner from Smithfields Market, with residents’ gardens, a bar, meeting room and cinema, and offering secure, lock-and-leave properties. Although the developer had sold the best apartments, we worked our contacts to secure one second-hand, off-market. The development is ideally located next to the new Farringdon Crossrail station.

Belgrave Square

Our Client

A high profile member of a Middle Eastern royal family.

The Challenge

Our clients were specifically looking to acquire a significant family residence in prime Central London. Specifically, they would only consider Belgravia, freehold houses measuring over 14,000 square feet, and houses that represented good value and had not previously been done up by a developer.

The Perfect Conclusion

We thoroughly researched the market, considering both on, off and pre-market houses. Through our network we were finally able to identify an entirely off market house that met with our clients very specific criteria. The owner had decided to sell off market as they had a very expensive private art collection inside the house, and only wanted serious, vetted buyers in through the door. The house measured over 20,000 sq. feet and we were able to negotiate an impressive rate of £2700 per sq. foot. Fully modernised houses in this part of London can achieve up to £5000 per sq. foot.

Wycombe Square

Our Client

A Russian client looking for a one bedroom apartment to rent in central London

The Challenge

Our client instructed us to find a one bedroom apartment in Kensington. The property had to be within a modern, gated development with 24 hour concierge and security. His budget was £750 per week.

The Perfect Conclusion

There are a limited number of gated developments in Kensington. Our knowledge of the area enabled us to shortlist those developments which would provide the accommodation and services our client required. The best property we identified was located within Wycombe Square which is a boutique development of apartments and town houses benefitting from 24 hour security and concierge. The property was listed at £850 per week (and had been previously let for £900 per week) but we agreed terms with the landlord at £725 per week- a saving of 15% for our client.

 

Lancaster Gardens

Our Client

A Jordanian client relocating to London with his family.

The Challenge

Our clients were relocating to London from the Middle East with their entire family for work reasons. Before committing to an expensive house purchase, and also due to time constraints, they wanted to rent first in order to get to know the area better. They needed to be within a half hour drive from the children’s school in Surrey but also within 45 mins to 60 mins commute to the City. They had limited time to fly over and view potential houses with a small window to see a shortlist of the best options across a number of areas.

The Perfect Conclusion

In advance of our clients visit to London, we previewed in excess of 25 properties across Wimbledon, Roehampton, Putney and Coombe so that by the time our clients visited London we could make best use of their time and the two days they had set aside in order to find their perfect rental property. Our thorough search process meant that we saved our clients a huge amount of time, cancelling out properties that did not come up to the standard of their requirements, and ensured they saw the very best selection available. We identified an immaculate 5 bedroom new build house, spanning 3642 sq. feet with the added benefit of having had only one previous tenant since new. The property is located in the highly sought after Wimbledon Village area, in a quiet position with a garden and off-street parking. We also negotiated a £2,000 discount from the monthly rental price.

 

 

Queens Gate Place

Our Client

Three sisters, looking to up-size to a larger four bedroom apartment in South Kensington.

The Challenge

Our clients, a family we have worked with for a number of years, were looking to upsize to a four bedroom apartment with high ceilings in the South Kensington area. Four bedroom apartments are rare and difficult to find in this location.

The Perfect Conclusion

Due to the architecture and make-up of properties in South Kensington, four bedroom flats with period features are very hard to find. Through our network we successfully identified a suitable 4 bedroom apartment, measuring some 2000 sq. feet and the only 4 bedroom apartment on the market in a period building at this price level. We also managed to negotiate and saved our clients £1300 per month from the rental price.

 

 

Reckitt Road

Our Client

A British Couple looking to move in to London.

The Challenge

Our clients were retiring into London from Surrey and wanted to purchase either a house with a garden very close to a high street, or a lateral apartment with a large terrace overlooking the River Thames. They were open to being led and guided by us in terms of location, and we spent considerable  time showing our clients various options in west, south west and east London.

The Perfect Conclusion

After 9 months of searching, and one failed transaction due to the seller withdrawing, we finally secured a very unique 2268 sq. foot freehold property on Reckitt Road. The property is located in the heart of the popular Glebe Estate and is a few minutes’ walk from Chiswick High Road with its various cafes, restaurants and shops, and less than 10 minutes’ walk from Turnham Green tube station, giving them easy access into central London. The house also has the added benefit of a stunning roof terrace with roof top views over the Glebe Estate.  Our in-depth knowledge and range of experience across many of London’s postcodes, made us perfectly placed to undergo a search with such a wide scope. In addition we also managed to save our clients £65,000 from the asking price paying a very competitive £674 per sq. foot. The house next door had sold less than 12 months ago for £780 per sq. foot, giving our clients complete confidence that they were not only buying a great house, but also getting an attractive price.