Britain’s Most Expensive Houses

For more information about the program:

Media Requests for UK Sotheby’s International Realty:
Deborah Battsek: pr@deborahbattsek.com

 

Britain’s Most Expensive Houses follows top agents from UK Sotheby’s International Realty as they offer insight on some of the most spectacular properties on the market. Channel 4 picked up on the need to provide a little escapism whilst also acknowledging a world-wide trend as people sought properties with more space in light of the pandemic and the stamp duty holiday. The documentary will air at 8PM on the 28th of December.

New Electrical Safety Regulations Are On The Way! (England 2020)

This regulation will affect new private residential tenancies from 1st July 2020 and all other tenancies already in existence from 1st April 2021. Currently, this level of regulation only applies to licensed House of Multiple Occupancies (HMO).

Properties let on statutory periodic tenancies where the fixed term expires between July 2020 and April 2021 will require an inspection and test at this point under the regulations. For statutory periodic tenancies – where on expiry of the fixed term the tenancy rolls over into a periodic tenancy automatically by statute (rather than by contract) – the periodic tenancy would be a new tenancy.

There are some tenancies that will be excluded from the new regulation; social or resident landlord, long leases or tenancies granting a right of occupation of seven years of more, student lettings in halls, tenancies granted to occupiers of hostels, refuge care homes, hospitals or hospice. All electrical wiring and fixed electrical installations will need to be signed off and reported by a qualified electrician.

This report will be required to be shown at the beginning of every new tenancy and renewed at least every five years or earlier if any electrics or fixed electrical installations are altered or changed by the landlord. If the report highlights any issues, the landlord will be required to remedy these within 28 days or sooner dependent on the recommendations contained within the report.

If landlords don’t comply with the recommendations made in the report and this is reported to the Local authority they have the power to issue a fine of up to £30,000. They will also be granted the power to carry out any required works and seek to impose the costs of such actions onto the Landlord. It is more likely that they will serve a further notice of 28 days in order for Landlords to carry out the specified works before imposing any further actions and potential fines.

An Electrical Installation condition report (EICR) is a report carried out to assess the safety of the existing electrical installation within a property and is used to describe its condition. Parts of the system that are reported on include consumer units, protective bonding, lighting, switches and sockets etc.

The EICR will be graded Satisfactory or Unsatisfactory and will detail a list of observations affecting the safety or improvements required.

Questions about Property Management


These observations will be supported by codes

Unsatisfactory codes are:

C1 – DANGER PRESENT, RISK OF INJURY, IMMEDIATE REMEDIAL ACTION

C2 – POTENTIALLY DANGEROUS, URGENT REMEDIAL ACTION REQUIRED

F1 -FURTHER INVESTIGATION REQUIRED

 

Satisfactory code is:

C3 – IMPROVEMENT RECOMMENDED

 

These regulations do not place any defined requirements on fixed portable electrical appliances provided by the landlord, however due to the awful tragedy of Grenfell it is recommended to all my landlords.

Contact  us


Covid-19 Pandemic vs. New EICR Regulations

If landlords can show they have taken all reasonable steps to comply with their duties under the regulation

you will not be in breach of the duty. You could show reasonable steps by keeping copies of all communications with your tenants and with electricians as you’ve tried to arrange the work.

Further information:

The Electrical Safety Standards in the Private Rented Sector ( England ) Regulations 2020: http://www.legislation.gov.uk/ukdsi/2020/9780111191934

Explanatory Memorandum to The Electrical Safety Standards in the Private Rented Sector ( England ) Regulations 2020 :

http://www.legislation.gov.uk/ukdsi/2020/9780111191934/memorandum/contents


If your property is managed by Sotheby’s International Realty please contact Andy with your instructions to carry out on your behalf.

andy.berthier@sothebysrealty.co.uk

m: 07525 595 504

North London Update for July 2019

Kings Cross Quarter – £1,295,000

We are now in the prime summer months and North West London has certainly seen an uplift in activity with various transactions being agreed and subsequently going through. This has always been the busiest time of the year.

Offers are still being negotiated but vendors seem to have become more realistic and are starting to fall in line with current market conditions.

We have recently exchanged contracts on a Grade II* semi-detached house in St. John’s Wood, this was purchased by an American family who are very familiar with the area as their children go to the American School of London. We are currently working on numerous inquiries of this type covering St. John’s Wood, Hampstead, and Highgate and we are confident over the next 3-6 months that the activity will continue to grow.

Lee Koffman, Head of N/NW London Sales

 

Country Office | Market Update July 2019

Tranwell Woods, Northumberland – £POA

As we dry off from June into July and the political climate is still as unreliable as the weather, we find ourselves in an optimistic summer. Lettings are far out pacing sales in frequency and demand, but even in sales we have found ourselves with the odd competitive bidding event for desirable properties. In scenes thought long forgotten, multiple buyers seem to be attracted to certain properties like bees to honey. And yet other houses, even our prettiest, don’t get a look in. So the questions is, “Why?” Well we think it’s simple, really. Price, price, price. Location matters too but price is winning out.

Having had a damp squib of a spring market, mainly due to factors outside of our control, some sellers have agreed that in order to achieve their move, they need to meet the market demand. In most cases this doesn’t mean being out of pocket; far from it! They simply make up the difference on their onward purchase. It doesn’t really matter, other than pride, what you sell for, as long as you buy with the equivalent discount and end up with the same change in the bank after all is said and done.

Little Thatch – £1,595,000

We have had some wonderful instructions recently, from footballers’ houses in Northumberland, views from heaven in Salcombe, Devon, rare thatched houses in Oxshott, Surrey and a you-know-you’ve-made-it house in outer SW London. For those prepared to be pragmatic and recognise that perhaps now is the best-ever time to move, our choice of properties is wonderful. At the end of the day there’s a great choice of property, sellers are keen to sell, and you are competing with the sellers bottom line. Wait until the market improves and the opposite applies. More competition, high prices and far from competing for the lowest price, you’re competing with another buyers’ top price. Surely that can’t be sensible!

Jason Corbett, Director Country Sales and Lets