Lifting restrictions make London Sales bounce back

Q1 has indeed been a much busier than expected market for sales. The key drivers being the opportunity for domestic buyers to come into the market with a fewer number of overseas buyers. The lack of travel and restrictions of quarantines has meant that people from overseas have held back on visiting for investment. This however is leading to a pent-up demand of overseas buyers waiting to pounce once these restrictions lift, we will have further updates on this on 17th May.

The Stamp Duty deadlines are approaching, and buyers, agents and lawyers have probably not been busier in terms of people wanting to beat the deadline. Come the end of June the first deadline will be here, with the phasing then continuing over the next three months.

Hong Kong buyers are continuing to be prevalent in the UK market, and we expect this to continue and grow as the travel restrictions lift.

This quarter alone we have sold a high number of properties including a bulk sale for £15m, the Iconic Lost House by Sir David Adjaye, £6.5m, a house in Hampstead for £16m, and Eaton Place £4.25m. The current level of properties under offer is at its highest yet, and these sales are primarily a result of lifestyle changes, investment and “life after lockdown.” The key requirements that people continue to request are space (indoor and outdoor), light and views. Lockdown restrictions are lifting, and we can now meet clients for outdoor lunches, visit pubs and begin high street shopping again. In the business world, JP Morgan have announced that employees should be back in their offices by July, which only emphasizes the importance of the continuation of City living!

Guy Bradshaw
Director, Head of London Residential

 

 

 

 

 

 

Curzon Street, Mayfair, London, W1J | £8,500,000 | 3 Bedrooms | 4 Bathrooms

We’re Hiring | North West London Junior Sales Associate

Location: London, UK

We are looking for a self-motivated, ambitious, and digitally savvy individual to join our Head of N/NW London in luxury property sales. The ideal candidate will have at least 2 years’ experience property sales and be looking to make the jump to luxury property sales. They would also have a strong moral compass, able to liaise with people at all levels and have a professional understanding of cultural and political sensitivities. A knowledge of St. John’s Wood, Maida Vale, Primrose Hill, Belsize Park, Hampstead, High Gate and beyond is a must. The ideal candidate will want to build their own business and book of clients as there is an uncapped potential for earning with a rewarding commission structure. An instruction winner and exemplary customer service levels are fundamental to our business ethos. There may be opportunities to travel across England and overseas as required.

The Junior Associate for N/NW London will report to and work closely with the Head of N/NW London. Though the office is based in Belgravia, and the role is quite mobile, therefore the Junior associate must be able to drive and have their own car; there is a petrol allowance and congestion fees are covered. The Junior Associate will benefit from access to a global marketing platform, international desks and an unrivalled referral network of over 1000 offices and 25,000 brokers worldwide.

Being tech savvy and willing to learn a new way of brokering properties is a must. We use innovative platforms that require self-learning to perform at the global level. A high level of comfort in the digital and social media realm is necessary to network across borders and through our current pandemic situation.

 

Contact us with your CV and Covering Letter.

Salary and commission commensurate to experience and on application.

Recruitment agents need not apply.

 

Please send CV and Covering letter to Lee Koffman, Head of North and North West London Prime House and Flat Sales

General Enquiries: london@sothebysrealty.co.uk

Landlord Advice | Virtual Tours are a Necessity

Make your property viewable 24-hours a day!

Like many industries over the last 12 months, especially one that has been built on face-to-face meetings, real estate has had to adapt to survive and utilizing the latest technology has become essential for us to succeed in the new normal.

In particular and now more than ever as we find ourselves in the midst of a 3rd lockdown, virtual reality (VR) is one of the most effective tools available and here’s why:

For tours, VR can provide a 360-degree view of a property, 3D floor plans, and an interactive experience of the location.

Prospective buyers and renters can view properties directly from devices like computers, tablets, and smartphones anywhere in the world.

VR tours can help prospective applicants immediately envision themselves in the home – it allows people to explore a property in detail and to actively engage with what they see in their own time.

  • People don’t have to physically see the property to be convinced to make an offer.
  • VR allows estate agents to have a 24/7 open house, with no restrictions on viewings – ultimately maximizing your exposure!

The COVID-19 pandemic has resulted in both an aversion to human contact where possible and increased familiarity with digital tools. When buying or renting a house, people are therefore better prepared to complete the whole process online and VR makes this how process much more transparent, as buyers/renters are fully aware of the condition, size, and location of the home from the very start.

As an industry leader, we have fully embraced the use of VR and see this becoming an integral part of our industry, even after the pandemic is behind us. With restrictions across the capital likely to strengthen over the coming weeks, maybe days, it is essential that you are best prepared for what lies ahead and while estate agents can still show property for now, there is every possibility this might change. If agents aren’t able to show property and applicants can only view properties online then without a proper VR tour available, there is every possibility you could find yourself with a vacant property and no income.

Get in touch with us now to speak about this further and get a quote for your home!

James Somers MARLA
Head of Lettings, London

Contest Closed | Win A Collection of the World’s Rarest Coffee

To celebrate the partnership between Difference Coffee and UK Sotheby’s International Realty, we were delighted to offer the opportunity to win a collection of Difference Coffee’s Classic Collection, the best selling boxes (valued at £99). These coffee pods are Nespresso-compatible capsules, and used by some of the best restaurants in the world. Simply sign up to the mailing list using the form below for your chance to win and don’t forget to share the contest with a friend.

Classic Collection

Entries were accepted until 20th December, 2020 and the winners will be notified shortly after. One winner will be chosen at random. Prize is non-transferable and must be fulfilled before 31st March, 2021. By entering this contest, entrants confirm they are 18+ years of age.

 

 

 

 

 

UK Sotheby’s International Realty and Gusbourne will use this information to provide updates and marketing via email. You can change your mind at any time by clicking the unsubscribe link in the footer of any email you receive from us, or by contacting us at london@sothebysrealty.co.uk and  info@gusbourne.com. We will treat your information with respect. For more information on our privacy policy, click here. By signing up, you agree that we may process your information in accordance with these terms.

On 8th July, the government announced that there will be a Stamp Duty holiday until 31st March 2021

The major news is that Chancellor Rishi Sunak has now raised the minimum Stamp Duty threshold to £500,000; where previously Stamp Duty was paid on homes sold for at least £125,000, for first time buyers, or on properties sold for more than £300,000.

However for those in the upper real estate market…things get a bit cloudier. Understandably, each case and situation is different so we encourage you to call us to find out how much you will be saving under the new rules.

Variables include whether or not you’re buying a second home, an investment, and the various price ranges above £500,000.

The good news for buyers:

You could save thousands.

The good news for sellers:

Buyers are now more actively looking to purchase.

Call us to find out how much you will  benefit from the Stamp Duty changes

 

How the Chinese are looking at UK property post-lockdown | Catharine Che

Catharine Che| 车倩毓 Head of China Region

Regarding the effects of the Covid-19 Lockdown on incoming post-secondary student activity from China to the UK, existing students are making-do with online classes but have expressed missing out on the quality and efficiency of classroom teaching, in particular face to face communication with teachers and classmates. We are receiving questions about whether Chinese families will continue to send their children to the UK for education – and the answer is YES. However, it is too soon to tell the quantity.

In the short term, Coronavirus may have dampened our will to travel worldwide, and we do expect a certain reluctance to take long-haul flights. The English may fear going to the country of origin, and the Chinese may fear coming to the European hotspot where we are still in the throes of battling the virus. In the long term, there are other socio-economic and political factors at play. However, we are seeing a particularly swelling level of enquiries from Hong Kong looking at the UK as a potential “safe-haven” with the political uncertainties and the welcoming gesture made by Boris Johnson on the promises of citizenship.

For those students and families looking to emigrate out of China, achieving an education in the UK is still a desirable and valuable option. However; if we are considering Hong Kong’s situation with respect to political changes enforced by China, we may see a new wave of immigration via education.

From the Chinese perspective, UK has performed incredibly well to offer support during the lockdown and their prevention methods were also successful in flattening the curve. So will we see more Chinese students arriving to the UK post-Coronavirus any time soon? It might be a while.

Our China Desk has made a significant sale of £12 million over the lockdown period, and have continued to make strides with closing property investment deals where virtual viewings were sufficient to satisfy investor needs. While we know the bigger investors have been relatively minimally impacted, the investors with a more modest budget will wait to hedge their bets till the time they can fly over to view in person. We continue to provide a wealth of information, promoting our virtual viewings and virtual reality options to Chinese enquiries coming in from China, Hong Kong, Taiwan, Singapore, Malaysia, and Vancouver; thus they gain a UK Sotheby’s International Realty education in UK real estate for both clients and buyers without the classroom setting.

London Dock, London

£1,290,000

2 Bedrooms

Surrounded by a rewarding mix of modern style and iconic history, London Dock is situated in the heart of the capital, moments from Tower Bridge, The Tower of London, St Katharine Docks and the City. With a number of London underground and Docklands Light Railway stations within walking distance, London Dock offers quick and easy access to London’s main financial centres of the City and Canary Wharf, as well as the exciting cultural and creative neighbourhoods of Shoreditch, Whitechapel and Bermondsey.

Wapping is a truly authentic destination, filled with independent cafés and restaurants, which has for hundreds of years been a vibrant part of London life. The Prospect of Whitby – London’s oldest riverside pub – was popular with Charles Dickens, diarist Samuel Pepys and renowned artists Turner and Whistler. By the river, Hermitage Community Moorings attracts sailing barges, tugs and small boats, keeping alive Wapping’s river heritage.

Properties with Video Tours

The Tower, St Georges Wharf, London, SW8

£2,750,000
3 Bedrooms | 2 Bathrooms | 1,252 Sq. Ft.

Video Tour
Book a Viewing

 

Romney Street, Westminster , London, SW1P

£2,750,000
3 Bedrooms | 2 Bathrooms | 1,252 Sq. Ft.

Video Tour
Book a Viewing

Using face coverings | 6 Tips

As of 15th of June, face coverings will be required on all public transport in England

Guy Bradshaw
Director, Head of London Residential

As we emerge from lock-down, staying alert is part of the new normal. We are open for business and we continue to follow the guidance provided by the government. We are booking viewings and valuations as per usual with respect to new safety measures.

See our other post for advice on Washable Face Coverings

Using face coverings | 6 Tips

1. Wash your hands thoroughly before putting on your mask
2. Ensure it covers your nose and mouth completely and watch for gaps
3. Avoid touching your ask once it’s on, and wash your hands first before readjusting your mask
4. Replace as soon as it’s damp and do not reuse single-use masks
5. Remove the mask from behind and dispose immediately in a covered bin
6. Wash your hands with soap and water, or an alcohol-based rub

Owning a Private Island

From the UK to French Polynesia

For questions about the event email London@sothebysrealty.co.uk. 

Recorded on Wednesday 13th May, 2020
1800h GMT | 0700h Tahiti

Join Guy Bradshaw, Director of London Residential at UK Sotheby’s International Realty, as we discuss the property market in French Polynesia. Jacques Menahem, Owner of French Polynesia Sotheby’s International Realty will give us an overview of the benefits of owning a private island, including price points, the right steps to take, and what to watch out for. Explore the benefits of having property in French Polynesia as we’ll answer questions about permanent residency vs. secondary home and island ownership. Find out what you need to know to invest, buy and rent property in that region.

Want to hear about our next event? Subscribe here. 

Guy Bradshaw
Director, Head of London Residential

Global Series – Cape Cod, MA

Guy Bradshaw
Director, Head of London Residential

In our next feature of the Global Series we travel to Cape Cod to interview Emily Van Giezen of Gibson Sotheby’s International Realty. I first met Emily in Los Angeles at a Sotheby’s International Realty conference and we have been part of the Next Gen group with agents from around the globe sharing ideas and knowledge. I’ve also personally spent time in Cape Cod as a child during summer holidays and loved the scenery and beaches it has to offer. If you are thinking about a second home in one of the finest areas in the USA I’d be very happy to introduce Emily and her team.


1. Which City/ area are you from?

Emily Van Giezen

I currently reside in Orleans, Massachusetts on Cape Cod- a fantastic coastal community. Originally I grew up in New Jersey just outside of New York City where I worked for a number of years before relocating to the Cape.

 

2. What are the best things to do/ see where you live?

Cape Cod is famous for it’s beautiful sandy beaches, sunsets, fresh oysters and seafood, lighthouses, and endless summer activities. Many love the accessibility of bay and ocean waters for relaxing days on their boats. It is also home to the last standing drive-in movie theatre on Cape Cod from 1957 which is a popular evening experience for visitors and locals alike. I personally love the Chatham Bars Inn and Wequasett resorts as well.

3. Tell us a little about your market?

Although we do have many year-round residents, Cape Cod is primarily a second home market. Summer rentals are also popular. Many originate from the Boston, New York, and New Jersey areas. We do see a number of folks from the UK and West Coast as well. The real estate market is active at all times of the year with core activity during the late spring, summer, and early fall. As a full time Cape Cod resident, it is delightful to experience these months as they come to life. During that time each year these folks help our local economy thrive. I’ve met some amazing people of which I still have close relationships with today.

4. What is your favourite listing currently on your books and why?

Lake Dr, Orleans, MA – $870,000

My favourite listing is one that just came to market. It is a custom built and well maintained ranch style home located in a private association. A beautiful inlet with a sandy beach that is private to the association residents is particularly attractive because of the dock and deep water access. In the town of Orleans (and surrounding towns), the list is quite long to obtain a public mooring. The home itself abuts seven acres of conservation land which means the backyard will always be screened with trees as it cannot be developed. Am I allowed to drop some branding? Professional media and details can be found at www.58lakedr.com.

5. How has the Covid-19 Pandemic affected your location?

Homes continue to list and sell daily, though the activity has significantly decreased in pending sales – about 50%. Despite this shift, value remains consistent. It is predicted that sales and rentals will bounce back quickly. The Cape is easily accessed by car and for many that will mean choosing this mode of transportation over flight when planning vacations. Interest in commutable second home markets as a future precaution is also very likely. Additionally, the current circumstances have launched us into utilizing and normalizing technology that has been available to us for a long time. Orleans, as are other towns, are quite close knit. Observing the community and small business owners coming together to support each other is incredibly heart warming. We truly are all in this together!

6. What are your best tips for living/ working from home?

Being proactive! I recommend:

– Starting each day with ten minutes of journaling. Write down 3 things you are grateful for, how you want to show up for that day, and a positive message to yourself. Be your own cheerleader!

– Ask yourself: Have I eaten? Have I showered? Have I done something creative?

– Also start this day with a list. Organize into high and low energy tasks.

– Build a schedule and stick to it. Include time for self care and honour your boundaries. What are your non-negotiables?

– Celebrate your small wins throughout the day

– Stay connected but know when to take a break and disconnect. Tune in to both your physical and mental health. Practice grace with yourself.

– Mental stretch: what does your 8 year old self need?

– InsightTimer App is my go to for guided meditation and calming music.

– Prepare for a more peaceful sleep and “brain dump” before bed. Write it all down and clear what is weighing on your mind. Calming tea also helps!

I don’t know the originator of this quote, but I write it down I’m my journal everyday: “When you let go of what no longer serves you, you create space for what is meant to be.”

7. Your best real estate story?

Selling real estate on Cape Cod itself! I meet amazing folks from all walks of life and have seen and sold some incredible homes. Experiencing the positive energy of visitors and homeowners is electric as Cape Cod is a safe and special place. They are excited to be here. My parents first purchased their own property when I was just three months old and we have been summering here ever since until permanently relocating. Everyday is my best story as I observed my parents live out their dream, now I am able to help others do the same. Including my own! I love having the creative freedom to take my business and listings to the next level because an artist, I practice art through operating my business. Client satisfaction is the greatest measure of this success.

8. Where is on your travel bucket list?

My list is quite long! Most places in Europe, Dubai, Tulum, and Iceland are at the top.

9. And finally…….. when are you coming to visit us in London!?

Londonnnn! I have always wanted to visit during the holidays. Hopefully early December!

Research, Recalibrate and Reach out with our W1 team

We know your circumstances are changing, and with that comes questions about your future. Shereen and Diana are on hand to discuss both sales and lettings, to make it through the COVID-19 lock down. Every situation is different, and it’s worth a chat with the team about how to reposition yourself for the market when the lock down is lifted. Let’s discuss marketing and investment strategies.

Research

When buying, selling or letting a home, research is usually the first step. You will want to know which areas are best for your lifestyle, which agent to use and what prices of properties are within the vicinity. Diana and Shereen have led many of their clients through this process from the very beginning. Assisting with research in terms of property portals, sending property links to one another and ensuring there is complete clarity when providing up to date and market chat. Both our brokers are always happy to answer any questions a buyer, seller or tenant may have through the process right until closing.

Recalibrate

If you are looking to enter the UK property market; whether renting, buying or selling, now would be the time to recalibrate. In a time where most of us have the freedom to think about your next move, take a moment to gather your thoughts and assess whether you are in the best position to move forward. If you are already on the market maybe it is time to strategise with an exceptional agency and look at a new approach on how to maximise your property on the market. We can ensure that that you have everything needed when the market is ready to rebound.

Reach out

This is the important part of your quest when looking at property in London – reaching out to the right people and being able to communicate to the right brokers. For top-of-the-market properties, you want to be sure that your brokers are able to bring you qualified buyers and tenants – quickness ensures that your property will continue to bring high yields. You want brokers who understand how to handle a prime central London sale or let; even outside of the current situation, London properties often have parameters and limitations on ownership. Now that new legislation is changing constantly to keep pace with the effects of the pandemic, you need to be sure that your broker can guide you through whilst making the most of this opportunity. Diana and Shereen are always ready to make and take video conference calls to ensure they are connecting with their clients first hand.


Sales in W1Marylebone Square, Marylebone, London

£4,710,000 | 2 Bedrooms

A two-bedroom apartment in the anticipated Marylebone Square development. This is a spacious two-bedroom apartment within the building, located on the eastern side along Cramer Street. The apartment is designed so that natural light floods the apartment and open plan living. The apartment measures approximately 1399 sq.ft. and benefits from an additional study in addition to the two bedrooms. Marylebone Square is a collection of 54 high-end apartments, carefully chosen boutiques and restaurants, and a versatile community hall.

Lettings in W1Charles Street, Mayfair, London

£8,667 pm | 3 Bedrooms | 3 Bathrooms

UK Sotheby’s International Realty presents this stunning three-bedroom, three-bathroom apartment (approximately 1512 sq ft) located within an opulent stucco building in the heart of Mayfair. Spread over three floors this impressive first floor apartment comprises a stunning 15ft reception room, retaining its original period features and boasting two large French windows opening onto a south facing balcony overlooking Charles Street. There is a bright fully fitted and equipped kitchen with high end appliances, a separate utility cupboard with separate Miele washing and drying machines. Charles Street is located on one of Mayfair’s most prestigious addresses and is conveniently located for all the excellent shopping of Selfridges and New Bond Street , the dining (Sexy Fish, Scotts, Annabel’s & Arts club) and within walking distance to Hyde Park, Green Park and St James’ Park and great transport for Green Park and Bond Street Underground.


Get to know our W1 team

London’s most desirable locations start with a W1 postcode

Our team has +18 years of experience in Soho, Mayfair, Marylebone, Fitzrovia, St. James’s

Shereen joined the team in 2013 and undertook her first multi-million pound deal within her first few months, progressing quickly to the position of senior associate. Coming from a background in law and finance she has been at the forefront of associating herself with people from different continents, creating long lasting relationships with her clients and extending her help beyond just agency. Shereen loves W1. From Soho to Mayfair to Marylebone. the hustle and bustle that part of London offers, so she tends to spend most of my time in those districts, ensuring she is aware of everything that is going on from new restaurants to sold prices.

Shereen Malik-Akhtar

Senior Associate shereen.akhtar@sothebysrealty.co.uk

t +44 (0) 20 7495 9589

m +44 (0) 7525 595 520

As one of the senior figures of the team, her expertise in this location and field is second to none. With over a decade of experience in the property industry and a wealth of local knowledge within Prime Central London, in particular W1 which she loves, it’s clear to see the repeat business and referrals that she receives. Diana has worked with many of the UK’s largest estates, including the Grosvenor Estate, the Crown Estate and other key private clients within Prime Central London. Diana provides a seamless service from beginning to end, maintaining constant contact 24/7 and is always available to advise or assist.

Diana Tran MARLA

Associate Director, Residential Lettings & Sales

Diana.Tran@sothebysrealty.co.uk

t: +44 (0) 20 7495 9580

m: +44 (0) 7525 595 523


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