June 10, 2013
We work on many projects for clients who want to invest in property. It never ceases to amaze me what can be achieved and how lucrative it can be.
We have just refurbished a “very tired” 5000 sq. ft. house on one of the better streets in Wandsworth. Through careful sourcing and clever design we have enabled the house to sell for £650,000 more than it would have done pre “make over.” After our costs that is a £450,000 return for our client. Not bad for a 4 month turn around.
So London is still great post financial meltdown to get some serious profit within a short period of time.
Great areas always have properties that are run down and not up to scratch. We are also working on a property in Holland Park worth over £5m and a house on the same street that has not been update for 40 years is on the market for £3m. Room for some profit on that one.
You need to keep ahead of the game and scour the areas. To buy luxury properties in London you’ll be against the affluent Russians, Chinese, Americans, Emiratis and Indians who are on a property shopping spree in London with the pound’s collapse in value. But if you look for the places that need some work –you may get ahead of this crowd as many of the foreign investors want a turnkey solution.
“The asset class itself – a good home – is understood the world over and prime central London homes are, for property, really easy and quick to sell. It’s an asset class in short supply, which makes for rising prices. The clarity over the new annual tax on enveloped dwellings has also helped”.
So if you want to make an investment – keep property in mind and also a good interior designer that can help make it sell!