Sourcing Property

Award winning property advisors

Contact us: +44 (0)20 7244 4485

Newsletter April 2016

Please see below our observations this month which we hope will give some insight to the London market.

Transaction of the month: Off market pied-à-terre acquired for clients in Mayfair
Buying activity still there but sub £5m
Rental clients overtake high end buying clients
Our Block Management service has been well received

Transaction of the month: Off market pied-à-terre acquired for clients in Mayfair

Apr16_transactionWe have just bought a superb pied-à-terre with a mid-term lease in Mayfair. Our clients wished to be within the heart of Mayfair and this highly sought after pedestrianised street was perfect. We viewed the property ahead of it being launched onto the market and secured it after our first viewing with exclusivity agreed.

Post completion we are working closely with Grosvenor, the freeholder, to obtain the correct permissions for the works our client wishes to carry out. We have trusted builders managing the renovations and our clients are looking forward to seeing the finished result.

 

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Buying activity still there but sub £5m

april_activityAs expected, buying activity levels are much lower than Q1 and one clear sign of this is the number of estate agents proactively making calls, trying to unearth buyers or trying to cross sell from other offices.

Our active clients are currently c. 80% buying for themselves and c. 20% as investments and the majority are buying between £750,000 and £3m.

 

 

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Rental clients overtake high end buying clients

We are excited to announce the new block management division of Sourcing Property, in response to overwhelming demand for a responsive, efficient and client focused block management service.

We are delighted to have recruited Stephen Britton to help set up and manage our Block Management department. He will be overseeing all of our block management clients to ensure that each block is run efficiently, cost effectively and that it complies with all necessary regulations.

 

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Our Block Management service has been well received

april_blockmanagementOur recently launched block management service has been well received by the market and we have already signed up a number of blocks wanting a change of management.

Our exciting expansion into this area has also been widely reported in the press in recent weeks, including Property Week and Estates Gazette. If you think your block could be run more efficiently then don’t hesitate to get in touch.

 

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If you would like to subscribe to our monthly market updates please email: Leila.AbuSharr@SourcingProperty.co.uk