Our Client
A previous Black Brick client.
The Challenge
In 2009 we sourced this stunning freehold house located in a prestigious Kensington development for £5,440,775 or £1752 per square foot. In 2014 our clients bought a larger, unmodernised property in Belgravia through Black Brick which, once completed, would become their primary residence. With the new home ready for occupation we were instructed to sell the Kensington house.
The Perfect Conclusion
In a very challenging sales market we agreed terms with an Italian buyer at £6,5000,000 or £2093 per square foot which equated to a 20% increase in capital value for our client during the period of his ownership. The transaction was very complicated and eventually took over 9 months to reach a conclusion during which time the buyer sought to renegotiate the price which had been agreed. We successfully managed to avoid the price renegotiation and contracts were exchanged at the agreed level.
Our Client
IBV International Vaults, a global Swiss vault company.
The Challenge
Our client operates IBV vaults, a market leading safety deposit box company across several locations including Switzerland and South Africa, but was keen to expand into London, where he could offer his VIP service to the world’s elite. There are very few bank vaults still in operation, and even fewer that are willing to sub-lease or sell their space to a third party. Many banks no longer offer safe deposit box facilities, but demand for such facilities is high as storing valuables in secure safety deposit boxes can avoid soaring insurance premiums.
The Perfect Conclusion
As a residential buying agency, this was a very unusual deal for us, made possible by our excellent connections as the vault was only available off-market. Situated on Park Lane in Mayfair, and next to the Dorchester Hotel, the location could not have been more perfect for our client. We negotiated a long lease with Barclays, and a significant rent free period as our client intends on carrying out significant works to improve the vaults. The 2,077 sq. ft. vault will open in November 2017 and will be completed to a luxurious standard, providing 3,300 safety deposit boxes for discerning clients.
Our Client
A Russian client looking for a family apartment in London.
The Challenge
Having rented a property in Mayfair through our Rental Search Service when he first moved to London, our client decided that he wanted to purchase an apartment in the same neighbourhood. With very specific requirements of at least 3 bedrooms, lateral space, a 24 hour concierge and security, a good view and ideally a swimming pool, the number of suitable options in such a small area were extremely limited.
The Perfect Conclusion
Our extensive experience, knowledge and contacts in Mayfair meant that we were able to identify developments, both existing and off plan which would be able to satisfy our client’s specific requirements. In the end Clarges Mayfair was the perfect solution for our client’s needs. A boutique scheme of just 34 apartments, developed by British Land and designed by Squire and Partners, with extensive leisure facilities including a swimming pool, as well as 24 hour concierge. The best units have far reaching southerly views over Green Park but unfortunately none were available on the open market. Through our network we sourced an off market 4 bedroom unit on the 4th floor with stunning views over the park. We then successfully negotiated 10% from the asking price, saving our client £2.35 million.
