An Executive client working between the USA and the UK required a spacious, well proportioned London property for private and occasional business use.
As the apartment would be for personal as well as occasional business use it had to be well presented and offer spacious apartment style living.
Garrington focused on Kensington and Chelsea, Belgravia and Knightsbridge, all safe and sought-after locations offering the architectural preferences of the client. At a time when availability of property between the £3.5M and £5M was at a low Garrington was mindful of the premiums the most desirable properties were attracting.
As a result of personal contacts Garrington was made aware of an apartment in one of the most prestigious apartment blocks in Kensington that had recently been sold, and promptly rented, under a corporate tenancy with a two year fixed term. Having been advised of the tenants managing agent Garrington then sought to make contact with the proprietor.
The proprietor, indicated that the property would only be available for the right price. After further dialogue and confirmation via a letter of intent that Garrington were retained by a private client, access to the property was granted.
Aware that the proprietor had no major desire to sell Garrington were mindful that a speedy transaction would be required. Further dialogue with the vendors appointed agent led to a swiftly agreed sale price.
Garrington was able to source an off market property that would not ordinarily have been available. Being able to quickly ascertain what was required to obtain the property the clients were given clarity of information, first hand from the proprietor’s agent.
At the time of purchase a premium was being paid however Garrington’s constant monitoring of the market has since revealed that inferior properties within the same building are now achieving +5% of the premium price paid by the client.