Register for Sotheby’s Valuation in Cobham

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For questions about the event, contact our office directly at:

+44 (0) 1932 860 537
country@sothebysrealty.co.uk

Fulham Reach | Holland Park & Holland Court Limited Offer

Fulham Reach Local Area

Book a tour or virtual viewing of the new Holland Park & Holland Court development at Fulham Reach and for a limited time when you buy a property at Fulham Reach with UK Sotheby’s International Realty we will provide you with 3-Months free property management.

Whether you decide to have us manage your Holland Park/Holland Court property or another one, we will assess your investment yield (could you be making more?) and advise on ways to maximize your rental property. This offer is only available for a limited time so book your tour now.

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Holland House & Holland Court

Fulham Reach is a thriving new waterfront community in the London Borough of Hammersmith and Fulham. This award-winning development features elegant architecture that accentuates the rich heritage of the site alongside beautiful modern homes designed for the future.

Bright, contemporary interiors, built to the highest standards
Full height windows, generous proportions and meticulously crafted design

 

 

You’re Invited to Lillie Square | Open House (Past Event)

We are still doing viewings of the Lillie Square development, but the Open House event has passed. Please contact Mohamed Zaghloul for more information. You can still book a viewing using the form below.

We have a limited number of apartments available, and we can offer you incredible preferred pricing on these properties beyond the rates you see online. Walk through the exquisite luxury collection, which offers unrivalled views across west and central London.

Lillie Square offers modern garden square living in West London. We have 2–3 bedroom apartments for sale, and the incredible penthouse is available as well.

1 Lillie Square, Lobby
London, SW6 1DZ

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Vaccinations don’t affect country move decision

Craigweil Lane, Bognor Regis, PO21 £3,600,000 | 5 Bedrooms | 6 Bathrooms

2020 and 2021 undoubtedly saw a large increase in enquiries and moves from urban areas to more rural ones. There were two kinds of people: Those who moved lock stock and barrel and those who bought a place in the country and retained either their home in the city or ever downsized in the city. So far, following the success of the inoculation program, we have not seen a return to the city, with many movers now settled into their new areas and successfully working from their new home office. Locations near transport have been key and as long as there is an excellent road or rail network nearby, there has been little limit to how far from the city they are prepared to go, perhaps restricted by time instead.

For example, at the time of writing we have a couple buying a beautiful mews house within stunning rural converted stables and surrounding lakes and lawns, forming part of a larger manor house, whilst they retain their home in London. They love the idea of being close to their children and grandchildren, only a few miles away, yet they can be at their London home within 45 minutes. Our mailing list has increased exponentially with buyers looking for the perfect family house away from the city and at some point this will slow down, but right now, all the evidence is for this market to continue.

Broadham Green Road, Oxted, RH8 | £2,000,000 | 4 Bedrooms | 3 Bathrooms

Most of the properties that have been taken up by this migratory force have been the larger family homes. Families with younger children through to late teens. Great schools nearby have been important, although many of the children stayed at their school, as long as they are boarding or commutable. At below £500,000 the market has been pushed along by factors such as the stamp duty holiday but also the pent-up need to move over the last year caused by working from home, births, employment etc. In prices over £1,000,000 it tends to be houses with great gardens and a good home office that have the greatest appeal and as said before, close to transport, yet away from the busy roads.

Buyers remain interested in unmodernised properties that they can renovate to their own specification and design but also, especially properties that are presented fully completed.

Properties in the commuter belt remain hot targets for buyers with a shortage of good stock and buyers waiting to pounce. A great house will sell very well and within a short period of time. Buyers are there waiting. Buyers from the UK and from international hot spots such as Hong Kong are longing to find the perfect house and if it is priced at the market value and presented well though all the mediums available, this really is a great time to sell or let your house. With the new school year fast approaching, buyers have every reason to capture the market today. Not only will they potentially save £15,000 stamp duty, they will enjoy their new gardens throughout this probable staycation summer.

Jason Corbett, Director Country Sales and Lets

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

Leasehold Property | Is the statutory landscape changing?

A recent government announcement was presented by the media as the most significant milestone in property ownership in decades. The answer to the question in the title should therefore be an emphatic “Yes” but is that a little premature?

The rights of leaseholders to extend a lease or to acquire the freehold are well established. The process is currently governed by the provisions of the Leasehold Reform Housing and Urban Development Act 1993 (as amended).

Further to the government announcement in January 2021 (following Law Commission recommendations), the statutory landscape in England will change.

The timing and to what extent however remains to be fully determined.

The primary changes proposed

Abolition of “marriage value”, being a sum that is linked to the increase in value of the property after a lease extension and payable to the landlord where the unexpired term of the lease is 80 years or less.

The right to extend the term of the lease of both flats and houses to 990 years at a zero ground rent.

The valuation of the premium payable will be simplified and an online calculator introduced.

Leaseholders would be able to agree a voluntary restriction on their development of the property (adding a storey for example) in order to avoid payment of development value.

A right for leaseholders to buy out the ground rent without having to extend the lease.

The future ground rent in new residential leases to be zero

Should I act now or wait for the reforms?

The government announcement has undoubtedly placed landlords, leaseholders and buyers in a difficult position.

There is no timetable in place for the enactment of the proposals. There is no guarantee that the legislation will reflect the proposals. The proposals will inevitably be subject to scrutiny and challenge by freeholders on human rights grounds.

For example, there are freehold owning charities who rely on the income from ground rents and premiums (including marriage value) to fund charitable initiatives – how will this income be replaced?

A leaseholder with a lease that is approaching the 80 year mark ought to take urgent advice on their options as a decision to wait for the reforms could have significant financial implications.

Leaseholders of shorter leases ought to undertake a very careful analysis of the possible scenarios and the likely financial outcome of each.

For instance, the premium to extend a short lease in Prime Central London could be several hundred thousands of pounds (or more).

To delay an extension whilst awaiting the reforms could significantly increase the premium payable. If marriage value was to be abolished in the reforms this might negate the increase in premium.

There is however no certainty that the marriage value will be abolished entirely meaning there would be significant risk in deciding to wait for the reforms in such circumstances.

We would recommend that discussions take place at an early stage with an experienced lawyer and valuation surveyor to consider the various outcomes so that each route can be properly evaluated. There may also be opportunity for offers to be made to landlords who do not wish to wait for the outcome of the reforms.

There is a lot more to come in this story. Assuming the government does press ahead it could be 2-3 years before we know the extent of the changes to the statutory landscape.

David Quinn

Managing Associate in the Real Estate department at Ince and a specialist in leasehold reform matters.

Ince

 

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Mary Roberton
Global Real Estate Associate
Thank you to David for his insightful piece, we certainly hear a lot of questions associated around the leasehold terms on London property, and it is undoubtably true that extensions add value to your investment. Whether this be to stabilise your pricing and market value for selling, or that its a cost you need to consider in your offer price when buying.

If this is a subject you would like to learn more about please get in touch to schedule a call with David or myself.

Melbury Court, Kensington High Street, London, W8

The first quarter of this year has been extremely busy in the residential market, with our team agreeing significant sales on a weekly basis with both our locally based clients, and we have naturally also seen an increase in remote purchases from our international clientele.

As we head positively towards air corridors reopening and with a large backlog of interest from international buyers planning to fly in to London we are expecting a highly active Q2 & Q3 in sales.

If you have also been considering selling a property, now is the perfect time to begin the process with us.

 

38 Curzon Street
London, England, W1J United Kingdom

Thinking of buying or selling property in the UK ?

 

 

 

We’re Hiring in Cobham | Country Office Sales Associate

We are looking for a self-motivated, ambitious, and digitally savvy individual to join our Country Office in Cobham. We like to hire those with a little something extra.

Click here for the full posting on Indeed.com

The individual must have a proven track record of sales and or lettings and ideally have worked in prime London property sales. Reporting to and working closely with the UK Country Office Director the individual will be supported by the Cobham office, shared services in the London office and 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. We are looking for someone to help build and create a team that will service Surrey and the South of England for mainly residential sales and some lettings.

The person will be self-motivated, driven and ambitious. 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. 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 to London, across England and overseas as required.

If you would like to deal with luxury homes, new build investment sales and help build investors property portfolios whilst growing your own career then contact us with your CV and Covering Letter.

Must be able to drive and have own car. Commission Only

Recruitment agents need not apply.

Apply now with your covering letter and CV.

Contact our Country Office at +44 (0)1932 860537.