Professional Documents
Culture Documents
WALLS
A saunter south through Battersea Park and beyond, past the ever-elegant Prince of Wales Drive, and you will find yourself at the leafy and peaceful Victorian terraced houses of Foxmore Street. Which is where, in 2002, the current owners of one its smart piles judiciously stopped, lured by the scale of the family living quarters on offer. It was completely unmodernised, recalls James Gatehouse, investment advisor and former Grenadier Guards officer. But it was the size of the rooms and the fact that there is this wonderfully wide hallway that greets you as you walk through the front door that attracted me, as well as all of the original features and cornicing. No sooner had the family moved in than they got to work. It
took a year, Gatehouse recalls. We used GM Developments, a very high-end building contractor, to dig out the basement and to create the side return which instantly made everything feel roomier, as well as to raise the roof at the rear. We would have elevated at the front, but planning restrictions forbade it. In truth, it hasnt made a jot of difference, since the cavernous house is wonderfully spacious which makes sense when you learn that the walls go back to the very frame of the house, meaning every area has been used to its fullest potential. When it comes to the aesthetic, Gatehouse whose instant reaction to being questioned on his homes style is to pronounce it cluttered! defers to his wife, as it is her creative vision that pervades throughout. The kitchen is all smart black cupboards, marble breakfast bar, limestone floors and Neff appliances, while textured wallpaper lends a certain softness. A neat light-well that runs in a strip over the dining end of the room ensures that it is naturally spot-lit. From the dining area, two sets of French doors can be flung open on to a paved, Italianate garden, complete with manicured bay trees and terracotta pots filled with lavender all of which is Gatehouses department. The gardens meant to be low maintenance, but you wouldnt believe the work that goes into it! But there is the most wonderful fig tree from which, most years, we get about
BRIDGE MAGAZINE 53
50 or 60 figs. Not that this year has been especially fruitful after the weather conditions weve had... he notes ruefully. Perhaps one of the most unusual and winning aspects of the property is that it really is a house for all seasons. While the expanded basement is perfect for holing up in over the winter months, with its games-come-television room, utility room, spare bedroom and cosy snug, the garden is a joyful, and very secluded, spot for al fresco dining and sunbathing throughout the summer. Meanwhile, up the grand Victorian staircase, is a charming wallpapered bedroom overlooking the garden to the rear; a bathroom and a perfectly proportioned square master bedroom with large en-suite all lead off a sky-lit hallway.
Up another level is a deceptively large attic bedroom, which is the ideal den for children and teenagers. The house has evidently been a well-loved, fun-filled family home, while the area too has been source of happiness. Being so close to the park has made a huge difference, especially with children, Gatehouse waxes lyrical. Its a quiet street, and its close to some of the best schools in London. Its been a pleasure. Not only is this charming house situated on one of the most beautiful roads in Battersea, it also offers wonderful entertaining space and an unusual, well thought out layout. Mark Hutton, Associate Director, Battersea Park Office.
2,250,000 freehold; Foxmore Street, SW11 Contact Battersea Park Office 020 7720 8077
54
WALLS
One of the winning aspects of the property is that it really is a house for all seasons
BRIDGE MAGAZINE 55
56
WALLS
BrEaKinG MEWS
THIS MEWS HOUSE OFFERS SHARP STYLE AND COMMUNITY SPIRIT IN SPADES
There is, says Martin Hunt, something quietly remarkable going on just off the Brompton Road. For in the deliciously picturesque Roland Way, a pretty cobbled mews, there is the sense of something equating to a community spirit. Its almost unheard of in London! he exclaims. Its such a special street, and although we live in Sussex, just having been in and out for the years worth of renovations, we already know everyone by name. Its so lovely. Its easy to see why Hunt, along with his wife Olivia, fell in love with the sky-blue painted house (we had to have it!), which is charmingly named Roland Cottage; as well as the fantastic location just off the Brompton Road, it is a pictureperfect mews, and at that time, even had integral garages that had once been used for carriage parking. It was very quaint, but sadly of very little practical use, recalls Hunt. In fact, the impracticality of the garage was effectively a microcosm of the whole. When the couple bought the property, there were two bedrooms and a box room set in 12,000 sq ft of near unusable accommodation. Enter then Raf, the superstar Polish builder who has renovated 16 of the houses on the mews; along with his crack team, he excavated
BRIDGE MAGAZINE 57
2,750 per week, Roland Way, SW7 Contact South Kensington Office 020 7584 8888
the basement by hand (they were literally throwing the rubble out straight into a skip on the street above), which, in turn, allowed them to jiggle around with floor heights so that the ceiling of the basement came down by almost a foot, meaning that the attic was given both a proper ceiling height and a new lease of life. It was like waving a magic wand, suddenly transforming the property from 12,000 sq ft to 24,000 sq ft. Spatial spells duly cast, they set to work making their newly opened-out property into something quite special. It was a project of passion as opposed to a hard-nosed investment, and for the ex-London agent and retired fund manager, it was a one-off foray into property, based on a love of the house. Indeed, the attentions lavished on it have paid off; working from the bottom up, the basement houses an immaculate fitted kitchen, complete with Miele appliances and dining space (think stylish low-hanging lamps illuminating the table), plus a study and luxury, hotel-worthy bathroom all lit by glass-topped light-wells (belying the fact that this is actually a basement), all washed in a chic stone colour. On the ground floor, meanwhile, there is an elegant westfacing sitting room, and above a refined marble fireplace sits a flat screen wall-mounted Samsung television. Peer over the glass balustrade in the sitting room and you can gaze down into the dining room, while in the adjoining space is a snug television room, from which the old garage doors open out on
58
WALLS
It was like waving a magic wand, transforming the property from 12,000 sq ft to 24,000 sq ft
to the pretty cobbled street. Climb the spot-lit winding oak staircase and you arrive at one of a myriad of pices de rsistance the decked terrace, which though diminutive, could not be more ideal for a cold glass of something delicious in the sunshine. Next door, the immaculate master bedroom is flooded with light, with one large square window facing the terrace, and three smaller windows looking mews-ward. Carrie Bradshaws should take note; as well as an adjoining en-suite bathroom, there is also a walk-in wardrobe. Go up the stairs once more and you will find two simple and comfortable further bedrooms, divided by a Jack and Jill bathroom. All of which makes this an exciting proposition for a family, professional couple or as Hunt suggests a busy bachelor who likes to park his car outside the front door and his mini-motorbike inside the working garage doors. The couple is now waiting for just the right people to move in: Were hoping for long-term tenants as its quite a premium to be the first in, because nothing has ever been used the house wont ever quite have that feeling again. A luxurious, completely refurbished four-storey house tucked away in this prestigious mews. It would make a superb family home and is also perfect for entertaining. Lottie Lambert, Associate Director, Kensington Gate Office.
BRIDGE MAGAZINE 59
More and more londoners are making a break for the country, with property at the centre of the decision
Many of us harbour rustic dreams: life-long ambitions to join the hunting-and-fishing set, a romantic fancy of keeping chickens and tending a garden full of hollyhocks, or simply a break from the high-octane urbanism of the capital. In fact, statistics show these reveries are no longer fantasy, as more and more Londoners are making a break for the country, with property at the centre of that decision. Although Douglas & Gordon is primarily known as a London agent it does, in fact, work throughout the whole of the UK. For anyone who wants to slip seamlessly from town to country, leveraging the Douglas & Gordon partnership with The London Office is just the ticket. The relationship between the two agencies was forged more than a decade ago and has been helping Londoners move to the country ever since. We wanted to work with an agent in London, and Douglas & Gordon best matched our profile, explains Bob Bickersteth, The London Offices director. It is a natural fit to our glove and gets us involved at an early stage with London homeowners who have the country in mind so that we can show them our clients properties across the UK.
60
George Franks, Sales Director of Douglas & Gordon is similarly effusive about the partnership, and D&Gs increased reach as result of it particularly in the current market as people begin considering settling beyond the reaches of the capital. Moving to the country has never been more appealing, he says. With London stock levels increasingly scarce and buyers having to consider multiple locations to move to, buying outside of the capital could now be a more favourable option. According to Franks, there is also an emerging trend for laying down rural roots while keeping one foot in the city. In the past,
D&G NEWS
coUntrY TRACKS
Whether you want to take advantage of your companys enhanced home-working policy or take the plunge and set up a chintz-free B&B, there is no excuse for simply flirting with the idea: its time to get yomping through the fields with the aid of D&Gs partnership with the london office
homeowners relocating to the country would sell in London to buy a new home in the country. But, increasingly, we are seeing more people holding on to their London homes and renting them out, while renting or buying in the country. For those who find themselves tempted by the country life, The London Office with D&G is an invaluable resource. The collaboration between the two companies means that anyone seeking property will receive specialist advice and assistance with the sale, purchase, rental and management of rural and town properties, everywhere from Scotland to Cornwall to Kent. Whatever the dream, whether its of setting up home in a cosy Cotswolds idyll or living a lavishly Downton-style existence surrounded by your own acres, The London Office and D&G can act to realise it via their network of offices and contacts which includes locals who are able to advise not only on property, but also on schools and other logistical factors. According to insurance company NFU Mutual, each year 100,000 people are leaving UK cities in favour of a more bucolic life. The demand for practical information is now so strong that D&G and The London Office stage annual Move to the Country events. To browse properties on offer and garner advice about
what a rural move could mean for you, make a beeline for the Country Life-supported show, which this year takes place at Battersea Arts Centre on 14 May. It aims to be a one-stop shop for home-owning Londoners wishing to buy, sell and settle outside of the city. The show is the perfect opportunity to explore options and find out about what the country can offer, says Franks. Forget trawling through the Internet at the show youll find experts available to offer advice with in-depth knowledge of their local areas, while D&Gs staff will advise on selling or renting out London properties. Bickersteth seconds this. The show does what it says on the tin, he says. Whether visitors are looking for a weekend place, to move out permanently or make an investment, this is the place to garner information. Whether gathering necessary advice to make the big move or simply thinking about investing in a weekend retreat, The London Office with D&G is a vital resource with considerable combined expertise on every aspect of the subject. The London Office, 87 St Jamess Street, SW1A 1PL 020 7839 0888; enquiries@tlo.co.uk; thelondonoffice.co.uk
BriDGE MAGAZINE 61
62
With one of the worlds oldest forms of marketing in mind, D&G weaves its sharp-witted magic and produces a fabulous fairy tales campaign
D&G NEWS
Once upon a time in a castle (maisonette) in the mountains (Battersea), children were restless and bored and unlike their Victorian counterparts always seen and always heard. Then a good giant (a friendly estate agent) arrived and they were given the possibility of something new: a garden, a playroom and every reason to get that pet they had always longed for. They all lived happily ever after. People have been telling fairy stories to their children for centuries to explain to them the ways of the world as well as the value of a
the story, reflects Martyn Jackson, creative director of Ideas Factory. For instance, Jacks beanstalk proves useful in bringing international buyers to his cottage, which is for sale, and demonstrates that D&G has affiliated offices all over the world, in France, the USA, Dubai, Russia and South Africa. Fairy Tales is an elegant print advertising campaign that champions the various facets and departments of estate agency Douglas & Gordon. Consumers always expect something a little bit different from D&G, with former campaigns having featured quirky illustrations that are contemporary and zany in style. This year, however, the brand takes a more studied approach whilst maintaining its ever-present playful and innovative personality. Using the work of four fine art illustrators Marc Burckhardt, Julian de Narvaez, Paul Slater and Carol Lawson the overall look and feel is beautiful and classic, almost as if taken from an old childrens book. However, there is a hidden layer if you look a little deeper; Prince Charming is leaning Jacks over Sleeping Beauty with beanstalk D&G medals dangling off his proves useful in chest, while the Ugly Duckling bringing in is sporting fine tailoring international supplied by D&G. The princes decorations show just how BUYERS to his qualified he is for the job and cottage the natty suit of the swan-like character demonstrates the refurbishment capabilities of the agency. We wanted it to be a thinking-persons advertising campaign and, rather than Douglas & Gordon in-your-face, we wanted people to look a little bit for the D&G element and then be challenged to work out the story behind it, explains George Franks, sales director of Douglas & Gordon. My favourite so far is Hansel and Gretel; as well as being a lovely story, it is a very clear description of how D&G can help you as a landlord. That particular advert shows two children walking down a forked path into a dark forest; at the end of one of the forks, a cottage is just visible, and if you look carefully, you see that Gretel is holding an bit of prudent escapism. This year, Douglas & iPhone. It is, you then realise, through using Gordon leveraged the narrative power of this the D&G iPhone app that the pair has ended style of story-telling to launch a new brand up at the correct address. campaign using the overarching device of This imaginative collection of evocative well-known tales to weave a story about the illustrations presents just how the estate company and its multiple offerings. agency can assist its clients. The thing The campaign, which has been devised by about fairy tales is that they are traditional creative agency Ideas Factory, features a things but the stories are very impactful, series of inventive illustrated print adverts reflects Franks. Douglas & Gordon is a solid, showing modern updates on some iconic traditional firm with all the values that implies stories. I decided to use the stories of but we are also inventive, and think outside classic fairy tales to illustrate D&Gs qualities the box. We push boundaries. by subverting the outcome or the meaning of
BRIDGE MAGAZINE 63
Last summer D&G set A challenge to the students of Ravensbourne College of Design and Communication: to create short films to be displayed on its nine-screen video wall at the South Kensington office
expansion and growth within London and I also took inspiration from the music video Four Tet She moves She, directed by Ed Holdsworth. But although only one winner could scoop the first prize and the 1000 prize money, there were also silver and bronze gongs to bestow, the recipients of which would also be rewarded by having their work displayed up on the video wall, and by pocketing 750 and 500 respectively. In second place, the judges recognised the efforts of Joe Mercer Holland, whose Silhouettes in a Secret Garden is a short fashion film that portrays a luxurious and decadent lifestyle. The film produced in collaboration with fashion students at Ravensbourne follows a mysterious young woman, a silhouette symbolising a lifestyle, as she explores dreamily the grounds of the iconic 1930s Art Deco Eltham Palace, a beautiful English Heritage site in south-east London. Meanwhile, in third place was Sam Davis, who said: I made this film with the intention of learning about the programme Cinema 4D. I had never used it before and I started by trying to recreate a 3D sequence I had seen. The intention was to create an ident which would look slick and not only were also professional. The symbiotic project the the entries accolade of which is a great numerous, they asset to the winners portfolios were also of an was a triumph all round, so impressively high make sure you catch a glimpse of standard these Spielbergs-in-the-making on Harrington Road. You heard it here first. And thats a wrap, folks.
D&G NEWS
Clockwise from top: George Franks presents the winner and runners up with their prize money; a series of stills from Sam Davis 3D sequence; a still from Silhouettes in a Secret Garden; The Ravensbourne College of Design and Communication; George Franks with Kristopher Forrest; a still from the winning work; George with Joe Mercer Holland
the brief was gloriously free and open, giving plenty of scope for some truly innovative work
BRIDGE MAGAZINE 65
LEASE LENGTH
(years)
Extending a lease adds signicant value to the property and eliminates any ground rent for the remainder of the term. As a lease shortens and property values rise, the cost of extending a lease rises dramatically. In the current London property market it is more important than ever to consider extending your lease in order to avoid seeing your property diminish in value as the lease becomes shorter.
By taking proper advice and by taking advantage of a leaseholders right to extend a lease you can add substantial value and marketability to a property. At D&G our team of RICS accredited valuers, specialists in valuing residential property, offer strategic and valuation advice and can negotiate directly with your landlord to ensure the best possible result for you. It is always worth speaking with one of our valuation team to discuss the possibility of extending your lease, regardless of the unexpired term. Our Professional Valuation Department can help with Red Book valuations, market appraisals, tax valuations, rent reviews, expert witness work, matrimonial, mortgage, probate, lease extension and freehold purchases.
Call our Valuation Department now on 020 7591 8746 and increase the value of your property
douglasandgordon.com
12/04/2013 14:26
Insider GUIDE
INSIDER GUIDE
PROPERTY ADVICE FROM LONDONS LARGEST INDEPENDENT AGENT
The Debate, Page 68 Market Report, Page 70 D&G Services, Page 72 Asset Management, Page 74
BRIDGE MAGAZINE 67
Selling agent Ed, and buying agent Louise thrash out the age-old argument: should buyers pay whatever it takes to secure the home of their dreams?
THE DEBATE
historical performance of London property implies owning for a long time is the sensible option
ED MEAD is a director of D&G and has 30 years experience as a selling agent emead@dng.co.uk
Ed Mead argues that you cant fight the facts: in the capital city, there will always be wealthy people competing to snap up the best of a limited pot of sought-after property. It would be all too easy to be glib and point out that if you had invested 1 on the stock market in January 1998 it would now be worth circa 1.25 (FTSE 100). If youd done the same with an average London property it would now be worth 3.15 (Land Registry). If you look at the last 15 years, inflation has been running at 2.9 per cent (according to ONS), meaning that the value of your money has eroded by circa 33 per cent over that whole period. At this reckoning, on a
capital basis, your stock options would now be underwater, but your house would be floating off into the sunset, most likely with you lounging in a hammock sipping something or smoking a cigar. Obviously statistics can be made to say anything and Ive not included yields or rents being reinvested but, given you can live in a house but not stocks, this would certainly seem like no contest. And for those who were lucky enough to have got in early, its a no-brainer. On that basis, perhaps I should stop right there, as surely any right-thinking person wouldnt argue about the odd 50k, get on and buy and all would be well in the long-run.
However, the days of the baby boomer are over and those buying now face a very different set of challenges. Moving about isnt as easy as it used to be; stamp duty and legal/agency/moving costs mean that people move far less frequently than they used to. Deposits seem harder to come by, while renting is still seen as the second-class option and I havent yet even mentioned that doom-laden, almost onomatopoeic word: austerity. But far from being a reason NOT to enter the fray, surely the historical performance of London property would seem to imply that owning for a long time is the sensible option anyway? Many blame agents
for rising prices, which is in any case fatuous, and in a market like London you have, by definition, rich people seeking a finite pot of desirable property, ready to take on the competition in a bidding war. Imagine there were only three iPads ever built and they were all displayed in a big glass box in Harrods with an auction to follow a major advertising campaign. The proof surely is that mortgage valuers and buying agents desperately try to use historical data to justify lower values to their clients, yet most will ignore that and pay what it takes, deciding to look forward instead. The moral of the story? You never pay too much, just possibly too soon.
68
DEBATE
If you are outbid after you made your best offer, have no regrets. Persistence will bring rewards
A heLPing hand
estate agents to value ever higher. Relentless demand and limited supply have thus combined with the increase in the pay-whatever-it-takes attitude from some buyers to act as high-octane fuel for the engine of London property price inflation. So what is the savvy buyer to do aside from employing a good agent to help them? My advice is to offer only as much as the property is worth to you, and you only. Accept that you may have to bid strongly but do not feel duty bound to play the game of bidding one-upmanship. Remember a high bid is not necessarily a high-quality bid. Youd be surprised at the number of deals that fall through because a bidders enthusiasm in the heat-ofthe-moment exceeds their ability or desire to pay when the adrenalin subsides. If you are outbid when you know you made the best offer you could, then have no regrets, press on and keep looking. Persistence will bring its rewards. The Gucci family believes that quality is remembered long after the price is forgotten. Valid maybe if you have just splashed out on an extravagant handbag, but applicable to potentially the biggest investment of your life? I think not. The price you pay for a property is likely to always stay in your mind whoever you are so do make sure its one your conscience, as well as your pocket, can live comfortably with.
LOUISE CRICHTON has been a buying agent for 15 years and is the founder of Louise Crichton Property Search enquiries@lcps.co.uk
Buyers should eschew oneupmanship and only ever offer the amount a property is worth to them and only them while excessive prices paid for real estate give a false impression of the market, argues Louise Crichton. From the frontline of the London property market I note a growing expectation from estate agents that buyers are better off paying whatever it takes to secure the property they want. Of course they are going to say this it is in estate agents best interests to encourage high prices. A property is said to be worth what someone will pay for it. But what if that someone is a cash-rich buyer for whom money is no object? Or an ill-advised buyer who doesnt really know or care much about values but just loves a certain property so much theyll blindly bid whatever they are told to? These buyers will undoubtedly end up paying whatever it takes because their default setting is to get what they want, whatever the cost. But are the premium prices a true indication of market value, or do they simply represent the exceptional willingness of those specific buyers to pay top dollar? Whichever way you look at it, such premium prices are, alas, then used as benchmarks for the pricing of the next sale on the street, giving ammunition to
It really is a funny time to be a mortgage broker. Most are saying that theyve not been this busy since before Lehman Brothers filed for bankruptcy; enquiry levels are up, lenders are competing again, government-led incentive schemes abound and prices are dropping. Yet there are reports that mortgage lending has dropped and banks are struggling to say yes to the simplest loans. What we can say is that there are more positives than negatives. Whilst the governments Funding for Lending Scheme has brought the lenders out to play, their latest offering, the Help to Buy scheme, looks set to revolutionise the market next year. At first glance this wont just have first-time buyers rejoicing, but also those mortgage prisoners trapped with little equity and unable to move. Although theres a danger that this may artificially push up prices, or make buyers decide to hold purchases until the second part of the scheme in January, it could give the market a real boost. A fundamental question is whether lenders will impose the same tight credit scoring guidelines they currently adopt for high loan-to-value lending.
BRIDGE MAGAZINE 69
MARKET RePort
Our readers will know that we normally draw data from all over D&G land, which encompasses Prime Central London and its satellite areas from Hammersmith in the west, right round to Clapham and Battersea in the east. And the results for the first quarter show a strong start to the year with capital values moving ahead 4.2 per cent. On the other hand, rents have continued to soften with an overall decline of 2.1 per cent. However, in this quarter, the performance of the parts is revealing; Prime Central London saw comparatively modest growth of 1.1 per cent in the first quarter of 2013, and a more significant decline in rental values, with rents falling back 4.4 per cent on average. In contrast, the rest of D&G land saw strong capital appreciation with a 5.2 per cent increase and only a modest rental decline of 1.1 per cent. So what is happening? Maybe Prime is taking a bit of a breather. Looking back over the past six years, the house market in Prime is up nearly 40 per cent since its previous peak back in 2007. International investors may well be seeing better value in other parts of London and the squeeze on rents is witnessing yields contract quite sharply. Despite a bright start to the year in the stock market,
70
confidence is in short supply. Overall, though, the geopolitical factors that have driven international capital into London remain painfully evident. Who in their right mind would keep their money in Euros now that bank deposits appear to be fair game for the tax man and when the situation in the Middle East particularly in Syria just seems to get worse? Non-Prime has enjoyed in capital terms its strongest quarter since the autumn of 2009, with a 5.2 per cent increase. The supply-and-demand equation is very similar to where it was 12 months ago with 3.6 buyers for every property. Whilst rents on the larger houses have declined in the quarter, they continue to hold up well for one-, two- and threebedroomed properties. Reshuffling the data to look at the performance of values by size of property, as opposed to area, produces interesting results; since the peak of 2007, larger properties have increased by as much as 35 per cent to 40 per cent. In contrast, over the same period, one-bedroomed flats have increased by only 15 per cent to 20 per cent. We put this down to the difficulty in getting credit for new buyers; those in the property market already have been able to trade up as they hold equity in their property, but fewer potential first-time buyers have been able to find deposits of the 25 per cent or 30 per cent that lenders require. These same frustrated buyers provide the rental pool for oneand two-bedroomed flats which means that these properties have good rental investment prospects.
SW LONDON
2012 3.94
PCL
2013 3.41
4.2%
increase in capital values for Prime
3.6
40%
5.2%
overall price Increase for non-Prime. Strongest increase for larger properties since 2007 quarter since 2009
Market REPORT
if the first quarters capital appreciation is anything to go by, the future LOOKS BRIGHT by Michael Hodgson, Chairman of Douglas & Gordon
FT ALL SHARE
D&G ALL
2013 1925.30
2013 1469.50
2100 1900
1700 1500
1100 900 700 500 300 100 1984 1985 1986 1987 1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013
VALUE ()
850 750 650 550 450 350 250 150 2012 2013
1300
RPI
D&G ALL
2013 843.20
PCL
2013 847.35
1984
1985
1986
1987
1988
1989
1990
1991
1992
1993
1994
1995
1996
1997
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
BRIDGE MAGAZINE 71
OUR SERVICES
Its not just buying and selling heres what else D&G has to offer
institutions are less inclined to become involved with short leases. > The current ground rent you pay reduces to a peppercorn (nil). This is important if your rent is reviewable as a percentage of capital value, which could result in a large increase. In brief, you will qualify if: Lease extension > You have owned the property for more than two years. > There is no residency requirement and flats can be held in company names. > The original lease was granted for a term greater than 21 years at a low ground rent. Collective enfranchisement > Half of the total number of flats in the building must participate. > The non-residential element must not exceed 25 per cent. > There is no residency requirement and there is no two-year ownership rule. To find out more, please call the professional valuation department on 020 7591 8746 or visit James Hamand, douglasandgordon Associate, jhamand@dng.co.uk com
Services
Our professionalism and responsiveness, as well as our friendly and honest approach to property, mean that we are frequently the first port-of-call during a search. We also offer a fully complimentary bespoke service, which is tailored to the specific requirements of individual companies and their employees. Our corporate services department can create a personalised and professional home search, and provide a dedicated account manager who is able to assist and guide in all parts of the relocation process. Our service benefits tenants by removing the time-consuming administrative burden of searching for and finding a property, and additionally offers support throughout the whole lettings process. Landlords can rest assured that they will have the highest quality of tenants and a smooth-running tenancy from beginning to end. To find out more, please call Camilla Morris on 020 7589 5252 or email Camilla Morris corporateservices@ Corporate Service, dng.co.uk
corporateservices@dng.co.uk
with the comfort of knowing their building is being managed on a very personal level. We were the first residential agent in the UK to offer a fully comprehensive web-based accounting package for our clients to access. This security-protected website allows clients to view their buildings accounts, including arrears, property expenditure and balances. But we havent rested on our laurels. The new, exciting, interactive Douglas & Gordon website also includes a virtual noticeboard for every block. This accommodates PDF and jpeg files, so that notices can be posted on the board, along with minutes of meetings, photos and newsletters. There has never been a better way for residents to get information about what is going on in their building. All of this is included in the fee. Can you afford not to have Douglas & Gordon as your managing agent? For more details, please call Calum Watson on 020 7963 4646 or email cwatson@dng.co.uk Calum Watson, for our virtual Associate Director, brochure cwatson@dng.co.uk
BRIDGE MAGAZINE 73
Invested interest
D&GAM, Douglas & Gordons asset management arm, has launched The London Property Team, a brandnew subsidiary company devoted to getting propertyinvestors the best possible returns. Office manager Celine Moyse gives us a 10-step guide to getting themost from your investment
oyse Celine M ger n a a Office M
1 2 3 4 5 6 7 8 9 10
First, contact us via info@dngam.com, or call Celine on 020 7963 4624. Next, we will drill down to understand your budget, risk appetite and return requirements (capital, income, or both). We will then prepare a strategy document setting out what you want and how we will help you to achieve it. We will analyse the pros and cons of borrowing, and fit that into the investment model. We will next source suitable stock from the market (or agents and other trusted sources), as well as our off-market contacts. We will then distil all possibilities into a shortlist and take you on viewings. We will negotiate for you and get the best deal based on our knowledge of the market and recent price action. We will help you throughout the whole purchase process (valuation, bank lending, lawyers). We will advise on refurbishments and improvements, and then execute them if you want us to. We will find you a tenant, manage the property and send you your monthly/ quarterly rent cheque.
67-68 Warw ick Square, SW1V 2AR Office: 020 7963 4600 Direct: 020 7963 4624 Mobile: 078 50 774791 cmoyse@dn gam.com
We will drill down to understand your budget, risk appetite and return requirements
74
Asset Management
we will negotiate for you and get the best deal based on our knowledge and recent price action
Examples of The London Property Teams 2012 track record for investor clients: 1. Four-bedroom house, Kensington, W8: Generated an immediate 11 per cent capital uplift post refurbishment and a 3 per cent yield. 2. Three-bedroom terraced house, Kensington, W8: Generated immediate capital uplift post refurbishment and a yield of 3.5 per cent. 3. Three-bedroom flat, Battersea Park, SW11: Generated an immediate capital uplift post refurbishment and a yield of 4.5 per cent. 4. Two-bedroom garden flat, Battersea Park, SW11: Generated an immediate capital uplift post refurbishment and a yield of 4.7 per cent. Acquired off market. 5. Two-bedroom flat, Battersea Park, SW11: Generated a 13 per cent capital uplift post refurbishment and yield of 4 per cent.
BRIDGE MAGAZINE 75
NORTH
08
Notting Hill
Pages 148-159
A Warwick Square Head Office 020 7963 4600 Block Management 020 7963 4646
05
Kensington
Pages 122-133
04
Hammersmith & Shepherds Bush
Pages 108-121
06
07 A 02 01
Chelsea
Pages 78-93
09
03
Fulham
IV
West Putney
ER
15
TH
Pages 94-107
AM
BATTERSEA PARK
12
Battersea Park
14
East Putney CLAPHAM COMMON
13
Clapham Southside
11
Battersea
16
Southelds & Earlseld
10
Balham
76
NORTH
Welcome to the North edition of Bridge magazine; our pick of the finest properties currently available for sale or to let in the best areas north of the river. Our colour-coded index on the right will guide you around your favourite part of London, helping you to find your perfect home quickly and easily. Each area starts with properties for sale, then leads on to properties to let. To view a summary of properties available south of the river, as well as country and international properties, head to our directory at the back, or if you would like to see more and receive the latest South edition of Bridge, please call Olivia Quarrelle on 020 7801 3312 or email oquarrelle@dng.co.uk. For the latest property updates, check out our website or let your phone do the search for you and download the D&G Property App. To find out more about the properties we showcase in Bridge, or if you need any assistance with your search, please call into your local Douglas & Gordon office. We are here to help.
NORTH
01 & 02 Chelsea Sales 020 7225 1225 Lettings 020 7581 6666 Pages 78-93
03 Fulham Sales 020 7731 4391 Lettings 020 7731 4791 Pages 94-107
04 Hammersmith & Shepherds Bush Sales 020 8563 7100 Lettings 020 8563 4422 Pages 108-121
05 Kensington Sales 020 7792 1881 Lettings 020 7792 1331 Pages 122-133
douglasandgordon.com
06 & 07 South Kensington & Kensington Gate Sales 020 7581 1152 Lettings 020 7589 5252 Pages 134-147 08 Notting Hill Sales 020 7727 7777 Lettings 020 7727 8000 Pages 148-159
09 Pimlico & Westminster Sales 020 7931 8200 Lettings 020 7931 8300 Pages 160-173
Directory
South properties Pages 175-187 Country properties Pages 188-189
SUPPORTING
BRIDGE MAGAZINE 77
The Saatchi Gallery plays host to some of the finest modern art in the country
INTRODUCING
WELCOME TO
emead@dng.co.uk
Chelsea Sales 45 Sloane Avenue, London SW3 3DH T 0207 7225 1225 E chelseasales@dng.co.uk Chelsea Lettings 55-57 Sloane Avenue, London SW3 T 020 7581 6666 E chelsealets@dng.co.uk Chelsea Lettings 45 Sloane Avenue, London SW3 3DH T 0207 7225 12253DH E chelsealettings@dng.co.uk douglasandgordon.com douglasandgordon.co.uk
CREDIT MAIN PHOTOGRAPH HERE CREDITCOURTESY HERE OF SAATCHI GALLERY BY MATTHEW BOOTH, 2009
No matter your perception of Chelsea, whether enjoying some window-shopping. And where better to its of well-coiffed twentysomethings or yummy this than at Duke the fore. An independentdo vets practice sits of York Square, which hides away Clapham South has all the advantages of INTRODUCING mummies out in force, its safe to say youve pictured great finds like Belgian shoe brand No and Yves being so close to the wide green spaces of the alongside locally-run DIY stores, the excellent yourself living in one of the boroughs gorgeous Delorme for fine French bedding. Fromagerie cheese shop and firm favourite common, but is most definitely at the quieter squares, popping Bluebird Cafwhich for serves Royal Hospital Road, where foodies can enjoy The Abbeville, up refined, end of town, withGeorgian families continuing to settle to the brunch, or lapping up the vista from Chelsea Harbour. Restaurant Gordon Ramsay, houses the National modern European food (try the fresh tortelloni down here as a result. It is, in fact, the heart Some of Londons finest landmarks are located Army Museum and with gorgonzola and walnut or braised squidthe Royal Hospital. The stunning of suburban Clapham, with row upon row of here Sir Christopher Wrens Royal Hospital, grounds play host to prestigious events, including the with chipotle Chelsea sauce). residential back streets disguised by genteel Nicola Chambers, Bridge, the Kings Road Its not all designer shops Chelsea Flower Show every summer. Towards the other endworld-famous of Abbeville Road streets with independent boutiques, with Associate Director high Lettings, either, though there are plenty of those as well. Along Follow the road to the peaceful Chelsea Physic or nchambers@dng.co.uk is Clapham Common tube, where Carmen not a chain in sight. the Kings Road youll find the famous perfumery to Embankment and Albert Bridge Gardens, where Bar De Tapas has been cooking up authentic Balham Hill might be the gateway to lorrunto Voluptibus, Directorwho Sales, Penhaligons, which has been serving Chelsea entrance is not quite Here, those Spanish cuisine since the nineties. There are as exclusive. the area, with its Northern line tube and emead@dng.co.uk aristocracy since 1870 and today remains as popular. dont benefit from one of Chelseas private gardens, also plenty of cafs and bars in the Clapham other general amenities, but exit towards The Saatchi Gallery, located just offTown the Kings can enjoy manicured green spaces befitting the Old district. Between the streets of the common and laid-back bars with great Road, is a magnificent building and a testament to the postcode. Great bars beautiful, tall, bay-fronted red-brick homes are and pubs such as The Phene gardens make for perfect summertime Above: A view of areas former life as a hub for bohemian artists in the can be found Battersea Power dotted several primary schools, which along have the quieter back streets. drinking dens. The residential streets behind Victorian era and again in the Swinging Sixties. (Even Station from the If Cheyne Walks coveted red brick homes (which received great ratings in recent years. are typified by red-brick Victorian and river Bob Marley lived in a Chelsea townhouse when, in count Mick Jagger, Laurence Olivier and Sylvia Edwardian terraces turned into duplexes or 1972, he first landed on the London scene.) Now the Pankhurst as past residents) arent within affordability, retained as chunky family homes. Saatchis halls or surroundings make for a great place there are plenty of elegant pieds--terre and spacious Follow the maze of streets to nearby Virginia Skilbeck, Head of Lettings, to while away an afternoon, followed by a bite to eat flats available to choose from in the streets between Abbeville Road, where the Douglas and vskilbeck@dng.co.uk at the Italian restaurant and deli, Manicomio, before the Royal Hospital and Kings Road. lorrunto Voluptibus, Director Sales, Gordon offices are located, and the areas
BRIDGE MAGAZINE 79
BRIDGE MAGAZINE 81
A beautiful maisonette, recently completely rebuilt, with two terraces and a spectacular drawing room.
3 bedrooms with en-suite bathrooms, Dressing room, 2 reception rooms, Kitchen, Terrace, Patio, EPC: E.
A spectacular, raised ground floor, four bed flat with lovely westerly views over the garden square.
4 bedrooms, 2 bathrooms, Reception room, Kitchen, Lift, Porter, Access Burton Court grounds by separate negotiation, EPC: E.
A wonderful eco-friendly house that's been completely rebuilt to exacting modern standards.
3 bedrooms, 2 bathrooms, Reception/dining room, 2 further reception rooms, Kitchen, Terrace, Patio, Solar panels, EPC: C.
Overlooking Chelsea Green and Whiteheads Grove, a three bedroom first floor flat in one of the best positions in the block.
3 bedrooms, Bathroom, Shower room, Reception room, Dining room, Kitchen, Lift, Porter, EPC: D.
BRIDGE MAGAZINE 83
A mostly ground floor, four bedroom flat in a well-maintained mansion block adjacent to Sloane Square.
2 bedrooms with en-suite bathrooms, 2 further bedrooms, Shower room, Reception room/kitchen, Resident caretaker, EPC: E.
A beautiful south-facing house close to the River Thames which has been modernised to a high standard throughout.
3 bedrooms, Bedroom 4/study, Bathroom, Shower room, Reception room, Dining room, Kitchen, Garden, EPC: C.
A very bright top (seventh) floor corner flat with far reaching double aspect views and a double reception room.
2 bedrooms, Bathroom, Cloakroom, Double reception room, Kitchen, Lift, Porter, EPC: E.
In one of London's best addresses, a recently refurbished two bed flat in an elegant period building.
2 bedrooms, Bathroom, Shower room, Reception room, Kitchen, Communal garden, Resident caretaker, EPC: D.
BRIDGE MAGAZINE 85
BRIDGE MAGAZINE 87
BRIDGE MAGAZINE 89
An outstanding property, immaculately decorated throughout with luxurious bathrooms and fantastic storage space.
3 double bedrooms, 3 en-suite bathrooms, Reception room, Dining area, Eat-in kitchen, Parking space, Porter, EPC: E.
A spectacular duplex penthouse with panoramic views from the wrap around balcony, which also boasts a hot tub.
4 bedrooms, 3 bathrooms (1 en-suite), Reception room, Kitchen, Terrace with hot tub, Caretaker, EPC: G.
An outstanding, extremely light, double fronted house which has been refurbished and boasts a separate dining room.
5 bedrooms, 3 bathrooms (2 en-suite), Drawing room, Dining room, Kitchen, Garden, Terrace, EPC: E.
An incredible penthouse, which has been redecorated throughout and benefits from wooden floors and fantastic river views.
3 double bedrooms, 3 bathrooms (2 en-suite), Cloakroom, Reception room, Dining room, Kitchen, Lift, EPC: F.
BRIDGE MAGAZINE 91
BRIDGE MAGAZINE 93