Result: Off Market
Abingdon Road
The Challenge
Our international client had purchased a house in Kensington for family use more than 10 years ago but it was no longer required. He was keen to sell despite the fact the sales market was extremely challenging given the uncertainties over the Brexit outcome. The property had been vacant for some time and there were a long list of outstanding maintenance issues which needed to be rectified.
The Perfect Conclusion
With our many years of experience we knew it was crucial that the house was presented in its best possible state before any viewings from potential purchasers were allowed to commence. We worked through the maintenance issues and also recommended that our client use the services of a professional staging company who then furnished the entire house with stunning furniture and art. Once this first stage had been completed we then made our network of fellow buying agents aware that the property was available off market.
We received an acceptable offer from only the second viewing at the house with a completion date set for April 2020. Unfortunately this was during the coronavirus crisis but we were able to ensure that completion happened without any delay.
The Unfair Advantage
Our many years of experience and unrivalled network allowed our client to achieve an off market sale in a very challenging market from just two viewings.
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.
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.
Mount Street
The Challenge
Our US client wanted to purchase a two bedroom apartment in Mayfair or Knightsbridge which would be let in the short term before being used by his family in the future. He was open to looking at both options in new build schemes as well as more traditional mansion block properties, and had a budget of up to £7,000,000. Before appointing Black Brick, our client had had a bad experience trying to acquire a property in a different part of London. It was at this point he decided that engaging a professional buying agent to assist with his search was the right approach.
The Perfect Conclusion
We undertook a forensic search of the significant number of new developments which had either recently completed or were available off plan whilst also looking at what was available in the more traditional mansion blocks. As a result of our analysis our client decided that he was not prepared to pay the premium being charged to be in a new build development, which in Mayfair can be as high as £5000-£6000 per sq. foot. Through our network we were alerted to an off market two bedroom, two bathroom apartment on the second floor of a period block on Mount Street which is one of Mayfair’s most iconic and prestigious addresses. The ceiling heights and aspect over Mount Street and Berkeley Square made this flat highly desirable. The vendor was asking £6,950,000 however as a result of our negotiations we were able to save our client £325,000 or 4.6% from the asking price. Our “first in the door” advantage followed by an offer meant that the property never came onto the open market.
The Unfair Advantage
Our network is unrivalled – we gained access to this highly desirable apartment located on Mount Street before anyone else.
Garrett Street
The Challenge
Our clients were looking to sell this unique Freehold “live-work” warehouse conversion measuring over 4000 sq. feet in Old Street/Clerkenwell, EC1. Our clients were high profile and we therefore decided on a more discreet approach that did not involve over exposure to the market, or listing the property on any of the traditional web portals. Given the rare and unique nature of the property we also knew exactly what kind of buyer the property would appeal to and how to effectively target them.
The Perfect Conclusion
After a carefully targeted campaign, tapping into our network of buying agents, private banks and other professional intermediaries, we generated multiple interest on the property resulting in several bids in a very short space of time. Within just a few weeks, we received a full asking price offer on the property from a well-qualified buyer. Once the sale was agreed the property exchanged contracts within one week. In a sluggish sales market, this was an outstanding achievement for our client.
The Unfair Advantage
We have the contacts and expertise to handle sensitive sales in a difficult market. The property was sold within four weeks at the full asking price resulting in the best possible outcome for our clients.
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
Lion House
The Challenge
Our repeat client for whom we originally acquired Red Lion House, was looking to acquire other investment property in Central London. We were the very first to be made aware of Lion House, a freehold block of 6 apartments, located directly behind our clients house. Strategically it made perfect sense for our client to acquire the building given the close proximity to his main house. Our challenge was trying to secure the property at a sensible price and avoid the block being launched onto the open market.
The Perfect Conclusion
Given our strong track record of having recently acquired Red Lion House, we used this as a key advantage and managed to swiftly agree terms at £7 million, saving our client 6.6% from the asking price. This equated to a very reasonable £1826 per square foot, without the property ever being openly advertised.
The Unfair Advantage
Our track record and strong reputation for getting deals done opens doors. We were the first in and secured the property without it ever coming onto the open market.
Allen Mansions
The Challenge
Our repeat client who we originally sourced an apartment for in Allen Mansions was looking to sell their private parking space having secured alternative parking elsewhere for their car collection. The space was located within an enclosed garage, fully fitted with power outlets and automatic gate access. Prior to creating a marketing brochure, we oversaw a light refurbishment of the space. Selling a car parking space on its own will naturally only appeal to a limited set of buyers.
The Perfect Conclusion
We reached out to our network of other buying agents, local agents in the area and also used social media to advertise the space. Within 24 hours of being instructed, we received an offer at the full asking price from a resident of the building.
The Unfair Advantage
We think outside the box. By using social media, we raised awareness of this unique opportunity and secured a buyer at the full asking price within 24 hours.
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.
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.
Ebury Street
The Challenge
Our client was looking to sell this two bedroom, two bathroom apartment in Belgravia which they no longer used. The biggest challenge we faced was the competition from other apartments in the area for sale. There were five other similar units for sale in the same building alone, and many more in the wider area.
The Perfect Conclusion
We personally wrote letters to every resident living in the building, making them aware of the sale. As a result we were contacted by a resident who had a friend interested in purchasing the apartment. We then conducted viewings with their representative and negotiated the subsequent offers agreeing the sale at £1.8m, just £50,000 below the asking price.
The Unfair Advantage
We go the extra mile. In addition to sending the property details to our extensive list of property agents and private contacts, we wrote letters to every single resident in the building, over 100 people in total. This enabled us to quickly identify a suitable buyer, whilst other similar flats remain for sale in the building.
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.