Newsletter Autumn 2011

With funding for genuinely large schemes still highly restricted, our activity remains focused on smaller opportunities for clients, most of whom have private funding, JV backing or overseas investment money behind them. Typically, such clients are looking for a total investment of between three and fifteen million and almost all favour prime areas.

Old Chelsea SW3 apartments demonstrate broad strength of off-plan market

Contrary to the expectations of many, the purchasers of the eight luxury new Waldron House apartments, just off the Old Chelsea part of the King’s Road, are not all overseas…

Increasing flow of overseas investors pushing prices up, but volumes remain low.

There are over 65,000 privately owned homes within the RBK&C. Of those, the total number to have changed hands in the first half of this year is likely to have been just 1200*.

This is a worryingly low figure. Over 50% more sales were recorded in the first halves of 2006 and 2007, for example.  So what is going on? Talking to our clients and contacts, the problem appears to be an absence of almost all traditional market ‘drivers’, negative and positive.

Simplistic free market logic suggests that…

Despite prominent press reports to the contrary, we are delighted to report that the Travel Bookshop in Blenheim Crescent, which featured heavily in the 1999 Richard Curtis movie Notting Hill, is not to close. Its story, though, is a 'near miss' for local businesses from which lessons should be learned.

James Malin has taken over this famous independent bookshop and is on the premises and running it now. This is good news for more than just the shop's customers.

An established part of the movie tourist scene, this small shop attracted hundreds of visitors every month, most of whom will have…

For those looking to rent, the most notable aspect of the present market is the relative lack of vacant stock. If – as many do – you assume you can find something and move in within a few days, you are almost certain to be disappointed.

Vacant flats on which you do not make an offer at the quoted rent today, will not be available tomorrow.

In several recent instances we have achieved significant premiums for immediately available flats wanted by more than one party, for example.:

- Montevetro SW11: £950pw asking, £1100 achieved (15.7% premium)
- Point West SW7: £665pw asking, £750pw…

On a perfect Summer’s evening on the last day of June, Beaney Pearce held a party in the wonderful setting of The Orangery in Holland Park to celebrate the recent opening of our office at 8 Ladbroke Grove.

This office extends the firm’s coverage within the Royal Borough of Kensington and Chelsea to include all of Notting Hill and Holland Park.

Director Nicholas Pearce said “It was a great pleasure to entertain so many clients, contacts and local people on such a lovely evening and to establish our third office. We have been very pleased with our first few months which have seen us…