Consulco Real Estate is pleased to announce the sale of this reconfigured and refurbished two-bedroom first floor apartment in London’s exclusive Sloane Square area.
In a market where the values of prime London properties have fallen by over 8% in the past two years and where sales volumes sit well below their peak, this is a particularly positive result (source: Knight Frank Prime Central London Sales Index December 2016 and 2017). Our team has been able to generate a small profit for our clients, despite multiple market shocks during the investment period. These have included the Brexit vote and additional taxes levied on higher value properties and their owners.
The value added to the apartment by Consulco’s experienced Real Estate team ensured that our investors’ capital was protected against the slump in prices, whilst our tenacity ensured that the sale completed successfully despite far fewer prospective purchasers than anticipated.
The apartment is located in Cadogan Court, a period portered red brick mansion block in a conservation area in Chelsea, one of London’s most desirable residential boroughs, and also in close proximity to exclusive Knightsbridge. It was acquired for £2,150,000 and sold for £3,200,000 after extensive refurbishment. The selling agent was Winkworths, founded in 1835 and one of London’s best-established estate agencies.
Cadogan Court was an ‘unloved’ apartment in very poor condition, with an ‘occurred’ layout (having been incoherently adapted over time) and only one bathroom. We identified the potential of this property and entered into a successful sealed bid to secure it.
Over a 12 month build period, Consulco created a modern, luxurious apartment to match the prestigious building and exclusive address. With our team of experts, we designed a unique lateral space and enhanced the accommodation into a very functional two-bedroom, two-bathroom layout which included:
- High-end specification (including marble and silk wall coverings)
- Bespoke joinery
- Advanced technology with a wireless lighting, TV and music system
- Underfloor heating
- Made-to-measure light fittings and furniture
Consulco Real Estate’s role and procedure involved:
- Acquisition conveyancing
- Appraisals with different scenarios to establish to highest possible value.
- Comparables analysis
- Licence to alter
- Conservation area consent
- Planning permission to change back windows
- Planning and development appraisals
- Space planning
- Design and specification
- Estimate of construction cost and professional fees
- Tender analysis
- JCT contracts
- Project management
- Cooperating with building restrictions / neighbours
- Liaising with building control / managing agents
- Market appraisal
Consulco Group provides wealth management opportunities to investors, managing assets of approx. £100 million, mostly group owned with a spread over commercial and residential properties.
London real estate has always been a quality investment asset type forming an integral part of wealth diversification and asset allocation strategies for professional and individual investors from all over the globe.