At the beginning of the year, we started looking for a property to acquire for our clients in South Kensington. Their search focused on the proximity to Hyde Park on its southwest side. Ideally, they wanted a house on a specific quiet street that they knew well and simply loved. We checked many options ourselves and viewed plenty of apartments and houses with the client, but there was nothing “just right” on the open market.
Our experience and network in the London premium residential market, including access to off-market options, allowed us to find the right house after all. In fact, it ended up being exactly on the client’s preferred street and within their initial budget.
The house was still tenanted, and it was vital for us to approach and agree a deal with the seller before the property went to the open market. The risk was that it gets snapped up as houses like that and on that street do not come to market often .
We managed to negotiate the best price for our client and beat another interested party by offering a quick and straightforward cash purchase. The contracts were exchanged within five days of agreeing the offer (very quick for this kind of deal) and on the eve of the first loсkdown in London!
For us it was also one of the highest residential acquisitions (c. £11m). The whole process took us just seven weeks: from our clients’ initial request to the final purchase.