Our clients wanted to acquire a home for their daughter. They needed a property in a safe area with good transport links and were happy to acquire a turnkey apartment or one requiring work.
At the moment, there is a huge premium being paid for properties in turnkey condition, few of which are worth it. However, we did find an exceptional apartment that met our “Best in Breed” criteria:
- An excellent location
- Good layout
- High ceilings
- Great views
- A large, wide reception room with several windows
- Access to communal gardens
- Its own terrace
- A lift
The property did require complete renovation (as you can see from the photos), but this was more than reflected in the price which we were also able to negotiate lower. Indeed, it is a classic example of other buyers overlooking a great opportunity even though it was on the open market.
Our clients’ daughter now has an exceptional home – her family describes it as a “gem” – which is also a fantastic investment.
It is relatively easy to renovate a property, it is impossible to change other factors. Yet it is stunning how many buyers are willing to overpay for renovated properties that are not in the best locations or have other drawbacks that cannot be fixed.
This does not mean that we do not acquire turnkey properties for our clients. However, they must still conform to our “best in breed” principles rather than simply acquiring it because of superficial positives.
Please note a best in breed property does not require all of the features listed above and what makes a best in breed property will vary from area to area, e.g. what makes for a great house in Belgravia will be very different to what makes a great house in St John’s Wood or Hampstead, for example.
So, if you are planning to acquire a home or investment in London, would you be open to some different insights and ideas that may be helpful to you finding the best property your money can buy and negotiating the lowest price possible?
If so, you can request a complimentary 23 minute Strategy Session with me to discuss your plans in detail and receive advice on off-market properties, what is happening in the market and the steps you need to take to find your ideal property for the lowest price possible.
“I do not think that I have ever heard anybody give such refreshing and appropriate advice regarding the purchase of property.” (Mr P. Brittlebank)
“Jeremy devised a negotiation strategy which he felt would give us the highest probability of achieving the lowest price possible… he managed to secure a significant reduction of £500,000 from the asking price which in hindsight we would not have achieved.” (Mr P. Murphy)
To arrange a complimentary Strategy Session, simply call 02034578855 (+442034578855 from outside the UK) or email my assistant, [email protected].
