Our client from Hong Kong was looking to invest circa £2million 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.
Black Brick 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 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.