Brik Magazine, July 2014

JULY 2014 16 ECO A GO GO 18 ONE MILLION POUNDS PLUS 20 BUMPY ROAD AHEAD

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CONTENTS

ISSUE 19 BRIK MAGAZINE JULY 2014

05

18

32

TOO HOT TO HANDLE?

ONE MILLION POUNDS PLUS

Is renovation right for you?

Marc Da Silva, Property Market Specialist

Andrea Dean, Property Journalist

10

20

34

BRIKOLAGE

BUMPY ROAD AHEAD

Guide FOR LANDLORDS

PROPERTY MARKET

NEWS & INTERESTS

KNOW MORE

MORTGAGE MARKET

Alistair Hargreaves, John Charcol

SELLER’S GUIDE

LANDLORD’S GUIDE

14

24

36

LOCATION, LOCATION, LOCATION

WHEN TO BUY THE FREEHOLD

CUSHIONS

Marc Da Silva, Property Market Specialist

David Goldstone, Capital Leasehold

16

27

ECO A GO GO

Tips To Buy

KNOW MORE

INTERIOR & DESIGN

Magenta Pink Interiors

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HOME TECHNOLOGY

KNOW MORE

BUYERS GUIDE

Matt Hil, T3 Magazine

12 INSPIRATION TRANSMISSION

22 PRETTY LITTLE THINGS

38 PROPERTY GALLERY

Brik Magazine is published by Brik Property Ltd (Brik) and the opinions expressed in this magazine do not necessarily reflect those of Brik, the editor, publishers or their agents. Articles and other information in this magazine are as up-to-date and accurate as possible, at the time of publication, but no responsibility can be taken by Brik for any errors or omissions contained herein. Responsibility for any losses, damages or distress resulting from adherence to any information made available through this magazine is not the responsibility of Brik or their agents. All property descriptions and photographs contained within are for guidance only and are not necessarily accurate or comprehensive. All content Copyright © 2013 Brik Property Ltd. All rights reserved.

HOTEL

Ham Yard Hotel DESTINATION

London, UK ORIGINAL

Kit Kemp

04 brik.co.uk Bowing alley at the recently opened Ham Yard Hotel in London.

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Property Market

TOO HOT TO HANDLE?

Words: Marc Da Silva Property Market Specialist

With levels of demand in the capital incomparable to the rest of the country, London’s housing market is quite simply red hot.

Buyers paying more At an average of 99%, the proportion of the asking price that property sellers are achieving in the capital remains high, according to property analyst Hometrack.

Purchasers rush to compete for a limited supply of homes; it’s a seller’s market.

“Everyone hoped for a spring bounce in the number of homes being put on the market, but it hasn’t happened,” said Simon Rubinsohn, the Royal Institution of Chartered Surveyors’ chief economist.

This willingness from buyers to pay more is fuelling growth, with the average price of

a London home rising by 17% compared to a median UK average of 8%, the Office for National Statistics (ONS) said. According to the ONS, a London home is now worth around £459,000, but the PwC forecast that this could rise to around £560,000 next year, due to the widening supplydemand imbalance. William Zimmern of PwC commented: “We estimate average house prices in London could grow by 13% this year and nearly 10% in 2015.”

Smartening Up With some people seeing no end in sight to soaring prices, more homeowners are actively making improvements to their property in order to capitalise on further price gains, a Zoopla survey revealed.

The survey of 4,972 homeowners found that 95% of people believe that prices will rise, at an average of 8.8%, between now and September, up from 74% a year ago.

“Smart sellers are seeing all the signs of strong demand in the market and are looking to capitalise on potential capital gains to be had,” Zoopla’s Lawrence Hall said. With prices now 30% above the 2007 peak, there are mounting fears that London’s housing market is in ‘bubble territory’, posing the biggest risk to Britain’s economic recovery, according to

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Sealed bids, surging prices, the property market in London continues to boom at an astonishing rate. A penthouse in Knightsbridge recently sold for £140 million, annual prices in the capital are increasing at a rate of 17% and demand for homes is rising rapidly, fuelled partly by an influx of wealthy foreign purchasers.

Doomsayers may forecast a toxic property bubble that could pop anytime soon, but there are signs to suggest that there is further room for growth in London, on the back of Britain’s economic recovery, falling unemployment, record-low interest rates, government-backed mortgage schemes and a chronic housing shortage.

Property Market

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Property Market

Insane numbers colour the property market red-hot. From incredible prices in Knightbridge, spreading out slowly into the surrounding areas of Central London. (More on page 15)

the Bank of England (BoE) Governor, Mark Carney. The market growth, as previously mentioned, is being fuelled by high demand, driven partly by historically low mortgage borrowing rates. So is it time to increase interest rates?

Interest rates Mr Carney insists that there will be no rate rise to cool the market anytime soon because he believes that price growth is being caused by a chronic shortage of house building, suggesting that values may increase further, at least in the short-term.

BoE’s Governor views interest rates as the “last line of defence” against the possibility that a bubble will form in the market, maintaining that rates would increase only when the wider economy requires it.

Although a rate rise is unlikely to happen this year, many experts expect to see an increase in early 2015.

said Rob Wood, chief UK economist at Berenberg. Despite Carney’s reluctance to raise rates, he claims that BoE has various tools at its disposal to help slow the housing market. This includes making it more expensive for banks to give out mortgages, cutting high loan-to-value

Avoiding past mistakes The last property boom, which peaked in 2007, was effectively built on high risk lending and borrowing, which eventually contributed to the financial crisis and housing market collapse. But now BoE has introduced tougher affordability tests, as part of the recent Mortgage Market Review (MMR), requiring lenders to check borrowing affordability more thoroughly.

This is part of a long-term change in lending for homebuyers designed to ensure that the irresponsible lending that contributed to the last property crash is not repeated. MMR has potentially already contributed to a slowdown in mortgage lending, with data from the Council of Mortgage Lenders (CML) revealing a 16% fall in the number of new loans in the first quarter of 2014, compared with the previous three months. The CML’s Director General, Paul Smee, insisted “it will still be some time until we can assess its effect on the market”.

Lending cap Lloyds Banking Group Plc, the UK’s biggest mortgage lender, recently imposed limits on lending to homebuyers borrowing £500,000-plus, restricting them to borrow four times their income, in a bid to counteract soaring home prices in London. Lloyds said the change was made in response to an “issue largely in the upper tiers of the London housing

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“With growth running strong in their forecast, surveys showing no signs of growth slowing and unemployment predicted to be close to 6% by the end of 2015, delaying a hike beyond the first quarter of 2015 would be untenable, in our view,”

lending, ending Help to Buy, among other measures. Carney said. “We have an ability to tighten certain mortgage affordability requirements and to discipline underwriting.”

Property Market

market” and estimates that it will impact on around 8% of their mortgage lending in the capital. “The move is designed to help cool house prices in London, and it could work, especially if other lenders follow suit,” said Jonathan Barrett, from Property Price Advice.

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New homes But despite genuine efforts from the banks to cool the market, BoE’s Mark Carney has warned of “deep, deep structural problems” in the UK market, and said the main problem was that not enough new homes were being built. Thankfully, there has been a sharp increase in the number of new homes being developed in England, with the latest data from the Department for Communities and Local Government showing that 133,650 new homes are currently in the process of being constructed, up 31% compared to 101,670 this time last year. Although the volume of new properties being delivered is less than half the 300,000 units a year that the Business secretary Vince Cable says is needed to meet rising demand, the house building sector is crucially providing the market with a fresh supply of properties, helping to boost transaction levels. The volume of residential property sales in April reached 103,690, up almost a third compared to the same month last year, HMRC statistics show.

The UK needs a stable housing market if it is to rebalance the economy but it also requires significantly more properties on the market to meet demand for housing, particularly in London; an international hotspot and one of the most desirable cities in the world. Until there is a sharp rise in house building levels, the supplydemand imbalance will only continue to place upward pressure of house prices.

The sun is shining This summer promises to be a season with much to celebrate, and not just because Britain is expected to bask in the sunshine, as scientists forecast one of the hottest summers ever. With demand for property showing little sign of retreating, the traditional summer housing market slowdown may be just that, a pause in an alarming growth surge, as property reaches a point, at least for the meantime, that for some may be too hot to handle.

“The UK needs a stable housing market if it is to rebalance the economy but it also requires significantly more properties on the market to meet demand for housing”

Soft landing With mortgage lending conditions becoming more strict and interest rates set to eventually rise, London’s soaring prices will slow to more sustainable levels.

The market braces itself for a soft landing, rather than a crash, and early signs are showing that this summer may be the start of a potential slowdown, in the upper end of the market at least.

Amount of ‘new builds’ 2005 - today

200k

133,650

100k

2005

2010

2015

0

Property Market

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bulthaup Mayfair 37 Wigmore Street London W1U 1PP T +44 (0)20 7495 3663 F +44 (0)20 7495 0139 www.bulthaup-mayfair.co.uk

NEWS & INTERESTS

BRIKOLAGE RICHARD THE RHINO COVER

EAT, SLEEP, LIVE DESIGN

Number of people who died by becoming tangled in their bedsheet Total revenue generated by skiing facilities (US)

Spurious Correlations APPLICATION We happily live in a society where every fact is recorded, to track changing circumstances over time. Programmer Tyler Vigen made the very best of it, by writing a program which finds correlations between completely unrelated data. This results in a simple graph, jokingly open for interpretation as if it’s actually related, or serves as the power of coincidence.

900

2600

700

2200

500

1800

300

1400 2000

2001

2002

2003

2004

2005

2006

Who knows, perhaps the revenue generated by skiing facilities is in fact related to the number of deaths by becoming tangled in a bedsheets (above).

Read it at tylervigen.com.

2007

2008

2009

Dollars (Millions)

brik.co.uk

We love it when we meet another company driven by passionate people and a love for what they do. Eat, Sleep, Live is the living proof of how passion makes high quality products. The 17-men strong Nottingham based workshop creates hand-made furniture from reclaimed wood, averaging of 100 - 200 years old (i.e. from Kings Cross), all designed and produced in house.

This results in stunning, unique pieces with a modern rustic feel.

Deaths (US)

10

We sure love how innovative pieces of technology make our lives easier, but it surely also has a downside? While we use our GPS systems to find our way home, or a place to have lunch ‘near me’, poachers use GPS systems to pin-point the location of the individual rhinos. Enter tourists, spotting rhinos, taking pictures with their phones, to be posted on social media. The problem is that many images on some social media sites are automatically geo-tagged without the photographer realising they’ve revealed the exact coordinates of where the photo was taken. From this data the rhinos are tracked, shot, and their hornes ‘harvested’ (as much as 1,100 times in 2013). Help prevent these horrible events by turning off geo-tagging on your phone and try and avoid posting rhinos on social media sites.

NEWS & INTERESTS

RICHARD MOSSE EXHIBITION

EVANS & PEEL FOODS Set in the 1920’s, restaurant Evans & Peel Detective Agency sets the mood quite well before you even get seated. Before entering you ring a mysterious buzzer, after which you are guided to the detective’s office where you ought to explain your case (hint: come up with one on the spot). After your improvised case, the detective opens a secret door hidden behind a book case, leading to the cozy restaurant, set in 1920’s theme. Make a date, but don’t tell your unsuspecting guest what to expect!

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Richard Mosse, winner of the Deutsche Börse Photography Prize 2014, sheds a whole new light on war-photography.

Rather than portraying the (horrific) scenes of a country in conflict, he captures the haunting landscape of the Congo

Conflict (1998) differently, disobeying the rules of documentary-photography. The resulting imagery registers an invisible spectrum of infrared light, and renders the jungle warzone in psychedelic hues, creating a sense of chaos in what seems a calm landscape. An absolutely fascinating nothing-like-it exhibition in the Photographers Gallery (near Oxford Circus).

ARCHITECTURE

INSPIRATION TRANSMISSION

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BRICK AND CEDAR LONDON HIGHBURY, UK Wedged between two excisting properties, Studio 54 designed this two bedroom house to fit perfectly in the awkward angular plot. The cedar cladding and yellow brick, decorated with contemporary furniture give the property a warm, cabin-like feel perfectly proportioned to create homey spaces and angular lines.

ARCHITECTURE

St Kilda West House Melbourne, AUSTRALIA An existing Victorian family home, completely overhauled and converted into a contemporary family home. Influenced by Asian architecture, a calm minimalism is adopted through dark woods and a restrained colour palette which are occasionally lifted by flashes of bright colour, creating stunning, yet, peaceful living spaces. A look to watch.

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KNOW MORE

Location location location Words: Marc Da Silva Property Market Specialist

A friend of mine recently informed me that he wants to move back to London having lived abroad since 2008. As a Londoner born and bred, he knows all about living in the capital. But a lot has changed since he left the city six years ago.

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With property prices now 25% above their 2008 peak, my pal has been forced to widen his search for a home to another area after being priced out of buying a property in his preferred location.

If you, like my friend, are thinking of moving somewhere new, here are some of the things that you should do to ensure you are buying property in the right location, and a couple of examples of exciting boroughs.

Research the area Walk around the neighbourhood to get a proper feel for it. Establish how long it takes to walk to the local train station, pubs, cafes, shops and parks. Check out the local crime statistics on www. neighbourhood.statistics.gov.uk and talk to residents, estate agents and shopkeepers, as this will help determine what it would be like to

live in the area and what the future holds. Prestigious and historic Greenwich, for example, is set to see prices rise from last year’s average of £298,130. While Barnet in the north, reports The Telegraph, actually saw prices briefly fall in June of 2013, according to Land Registry.

whether you are over (or under) paying for a property, especially in an area that you are not overfamiliar with. There are various websites that can tell you how much other similar properties in the area sold for, including www. landregistry.gov.uk. You should also talk to local estate agents.

Housing stock Are the local properties rundown and poorly maintained or are they well presented with well-preserved gardens and nice cars parked outside? The difference can be dramatic. Kingston upon Thames, for example, is much sought after by families, and prices reflect this.

While Lewisham, which has had to deal with some issues of reputation over the years, has good stock – including some three and four bed homes coming in under £500,000 – and sits on the excellent East London Line and next to the green spaces of Dulwich.

Local amenities What sort of coffee shops and restaurants are located nearby?

Nice shops, estate agents and places to eat all suggest a flourishing area. If you have young children or are planning to start a family, do not leave yourself exposed to the ‘post code lottery’ by securing a home on the wrong street. Refer to the Ofsted report ofsted.gov.uk - for the best local schools. Rotherhithe has views of the river, and is set to benefit from 1,030 new homes, to be built by the company behind The Shard. Already popular among 20-somethings who’ve been priced out of Borough, the average property price in Rotherhithe is hovering around £411,052.

Adding value From basic home improvements to building extensions, some areas offer more of the sort of properties that allow you to add value than others. The Telegraph reports that Hounslow, in the south west, is set to see prices rise by 19.4pc over the next five years. A commuter friendly area with a mixture or period and new build properties, the borough of Hounslow has the grand houses of Chiswick, along with the terraced and semidetached houses of Brentford.

What did next door sell for?

‘Comparison’ is a useful valuation method as it can help determine

Transport Consider areas with established transport facilities – refer to www.tfl.gov.uk – and places with exciting new transport links which are unlocking hidden corners of the capital, making them more accessible, as this could drive up local home prices. Ealing, for example, will benefit from Crossrail, and this is already showing in the house prices, with forecasts predicting a potential rise of 20 per cent over five years.

£800k £1.2tm

under £400k

£600k £800k

Wembley £600k £800k

£800k £1.2m

£800k £1.2tm £1.0m £1.2m

£400k - £600k

£1.2m £1.4m

£800k £1.0m

under £400k Islington

£400k - £600k Docklands

£1.8m £2.0m

Hyde Park

£2.0m - £2.4m

£600k - £800k

under £400k

2009 AVERAGE HOUSE PRICES

£800k £1.0m

£400k - £600k

£1.0m £1.2m

£1.4m £1.6m

Greenwich

Battersea

Fulham

under £400k £600k - £800k £400k £600k

Lewisham

Dulwich

£400k - £600k Wimbledon

£1.2m £1.4m

under £400k

£400k £600k

Wembley

£800k £1.0m

£600k - £800k

£400k £600k

£1.2m £1.4m £1.4m £1.6m £1.8m £2.0m

£800k - £1.0m

under £400k

£1.2m £1.4m

2014 AVERAGE HOUSE PRICES

£800k £1.0m

£400k - £600k Islington

£1.0m £1.2m

£600k - £800k

Hyde Park £3.0m+ £2.0m £2.4m

£1.2m £1.4m Fulham

Docklands

£2.4m £2.8m

£1.4m £1.6m

£600k - £800k

Greenwich

Battersea

£600k - £800k

under £400k

£800k - £1.0m £600k £800k

£600k - £800k

Dulwich £400k - £600k Wimbledon

£400k - £600k

Lewisham

Home Technology

ECO A GO GO 16

While we’ve long been fans of connected domestic appliances for upping our home control and a little light showing off, the use of them as guilt-appeasing ecowarriors is on the rise. From energy app alerts to integrated iEfficiency systems, it’s never been simpler, or techier, to be seen to be green.

Words: Matt Hill Editor T3 Magazine

Smart homes are unarguably the year’s biggest technology trend. First, Google snapped up our favourite Wi-Fi-connected thermostat purveyor Nest, brainchild of former Apple iPod engineer Tony Fadell, for a cool $3.2bn. Next, Fadell’s former employer revealed HomeKit, part of the upcoming iOS 8 software that will power iPhone and iPads from autumn, which lets developers tap into a new interconnected system of home upgrades with the use of its voice-recognition PA, Siri. Indeed, a yelp of “rise and shine” to turn on lights, run a bath and brew the perfect cuppa is really not very far away at all.

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Yet applied to energy conservation, the potential becomes clear. Swap “rise and shine” for “bedtime” and you could be switching lights off, turning the heating down and lowering your carbon footprint in one go. Indeed, Tado, Nest’s crowd-funded rival, has just released its expansion into air-conditioning control, Cooling, which uses Apple’s iBeacon wireless-alert tech to turn air-con systems on and off depending on your location.

Tado’s mobile control to automatically or manually turn on/off cooling or heating as soon as the last person leaves the house.

Home Technology

Belkin’s WeMo Automation Swith

Tech accessory firm Belkin has also moved into the home-automation business, with its award-winning WeMo system fuelling lowenergy light bulbs and more, while the likes of Honeywell’s Evohome and British Gas’s Hive heating hubs are proving popular. The rather nice side effect of all this looking after the planet, of course, is lower bills, too.

“We get to some of The Inconvenient Truth’s more worrying short-term deadlines, tech firms are having to get increasingly environmentfriendly”

But with eco awareness meaning more to the masses the near we get to some of The Inconvenient Truth’s more worrying shortterm deadlines, tech firms are having to get increasingly environment-friendly. Apple takes ads out on the back of national papers to shout about its admirable efforts towards sustainability – and jokes that it wouldn’t mind competitors copying that particular idea – games console manufacturers like Sony and Nintendo reference energy efficiency in their selling points alongside processor speeds, while notorious powerhogs, the TV firms, are heavily investing in energy-efficient OLED displays.

If you want to get even deeper into the environmental, Econovate’s recycling-cuminnovation team now makes load-bearing structural breeze blocks from natural materials. Made with waste paper and cardboard, the Econoblock’s technology makes it great for thermal insulation or building that garage for your new, carbon footprint-crushing Tesla Model S, the battery-electric motor that finally goes on sale this summer. Well, if you’re going green, why do half-measures?

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British Gas’ Hive (top) and Honeywell’s Evohome (right) remotely controlled heating hubs, cleverly heats individual zones in your property.

Away from Silicon Valley startups and electronic headliners, though, there is some fairly standard kit to get your eco abode started. Solar hot water heaters are installed easily enough on decking, in gardens or on roofs to pull the sun’s rays in through photovoltaic panels and into your bath water. Smart power strips are clever, too, a plug-block stand-in that connects to your bevy of entertainment controllers to over-ride the energy-sapping stand-by modes of TVs and set-top boxes.

KNOW MORE

ONE MILLION POUNDS PLUS Words: Andrea Dean Property Journalist

In the world of property prices, passing the million pound mark has long been a major milestone.

Until relatively recently, owners of homes worth £1million+ belonged to an exclusive club.

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According to property search website Home.co.uk, in 1995 only 184 homes sold for a seven figure sum in England and Wales, making them well and truly the preserve of the super rich. Since then – apart from the hiccup in 2007 - house prices have climbed steadily and in many areas, particularly London and the south east, are well above pre-downturn levels.

The number of properties selling for over £1 million has escalated too.

The Land Registry’s House Price Index shows that in 2013, 11,028 properties changed hands in England and Wales for over £1 million. Over two thirds of these were in London. And in January 2014 1,011 £1million+ homes were sold, compared with 628 in January 2013. The average selling price in Kensington & Chelsea, the country’s wealthiest borough, is already well above the £1million barrier at £1,238,411 – a sharp contrast to Barking and Dagenham which offers London’s most affordable homes, with an average price of £238,909. Across London as a whole, Nationwide’s latest House Price

Index reveals that over 6% of housing transactions involve properties over £1million, a proportion that’s doubled since 2007 when they accounted for only 3% of the total.

These days, everyone’s remarkably wellinformed about house prices and many homeowners who have no intention of moving in the foreseeable future regularly scour the property portals to see if homes in their road have yet crossed the magic £1million threshold. The ongoing house price boom means that more people are property millionaires – owning homes valued at over £1million - than ever before.

Statistics from property portal Zoopla show that in 2013, the number of British property millionaires rose by 255 per day - that’s 92,985 over the year - bringing the total to 393,127. London accounts for 61% of these, with 57,120 homes edging over the £1 million mark.

Tracy Kellett of BDI Home Finders, a buying agent who sources properties for clients, finds that some are happy to pay slightly more for a property just to get into the millionaire bracket. “There is definitely a psychological tipping point at the million pound mark,” she explains. “Often I’ll hear from agents that vendors want ‘a one in front of it’ as £999,000 doesn’t make them feel like millionaires! I have won many a bidding war by encouraging my clients to offer a few thousand more just to tip it into the golden million pound park.”

But how does the proliferation of £1million+ properties affect the rest of the market?

It’s symptomatic of the fact that as prices across the board continue to climb, an increasing number of would-be buyers are being excluded from home ownership and resigned to renting or living with their families for longer. This, in turn, puts

What does £1 Million get you?

A million’s all relative. Get anything from a 5 bed house in Wembley, to nothing at all in Mayfair.

Ealing 3 / 4 beds

Brentford 2 / 3 beds

KNOW MORE

Small flat 400 - 600 sq ft Maisonette 600 - 1,000 sq ft Small house 1,000 - 1,500 sq ft Average house 1,500 - 2,000 sq ft Large house 2,000+ sq ft

with substantial equity, they’re priced out of moving from a flat to family home in London and having to look further afield.

Until the balance between supply and demand is redressed, and while there remains a shortage of entry-level homes, this situation is set to continue.

pressure on parents who want to downsize but have to stay put to accommodate offspring. Those who are in a position to buy their first home – and pass the newly introduced mortgage affordability checks – are being forced out into the suburbs and beyond. This is changing the demographic in some neighbourhoods, where young professionals traditionally set up their first home but now can’t afford to do so.

Second steppers are affected too as even

Camden

St. John’s Wood

Wembley 5 / 6 beds

3 beds

1 / 2 beds

Willesden 3 / 4 beds

Maida Vale 2 / 3 beds

Marylebone 1 / 2 beds

Ladbroke Grove

19 1 / 2 beds

2 / 3 beds

Bayswater

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Notting Hill Acton

2 beds

Shepherds Bush & Hammersmith 2 / 3 beds

Mayfair & West End Nothing

Holland Park 2 beds

Knight’s Bridge Brook Green

Kensington

2 beds

Earl’s Court

1 bed

1 / 2 beds

Belgravia 1 bed

2 beds

Pimlico

Chiswick

2 / 3 beds

Chelsea

2 / 3 beds

1 / 2 beds

Barnes

Fulham

2 / 3 beds

Battersea

2 / 3 beds

2 /3 beds

Clapham 2 / 3 beds

Richmond

Clapham Junction & Northcote

2 / 3 beds

Putney 2 / 3 beds

Wandsworth & Earlsfield 2 / 3 beds

2 / 3 beds

MORTGAGE MARKET

BUMPY ROAD AHEAD Words: Alistair Hargreaves Mortgage Consultant

The last three months have been somewhat of a bumpy ride for the mortgage industry.

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First of all we had the Mortgage Market Review to contend with – six months of speculation and worry about what it might mean, followed by the implementation on 26th April. Even though it has been live for almost two months now we still do not know the full impact of the tightening of criteria; application levels are still strong, and although it is taking longer to get deals through there is still a buoyancy to the market.

What is clear, though, is that banks and building societies are lending less now than they were before as clients have their incomes and outgoings stress tested far more thoroughly. So, having begun to navigate this new route, two further announcements added to the uncertainty.

Firstly Mark Carney, the Canadian Governor of the Bank of England, stated in his Mansion House speech that rates may increase, once the economy is more structured. He had been saying in the past that he wanted to keep rates low until the economy rights itself again, so this is a departure for him. However, consider his audience. The Mansion House Dinner is the

City’s annual formal get together. I wonder if Carney was simply warning the lenders that even post MMR banks need to be even more realistic and careful about their lending. Carney is clearly worried about a housing bubble, and has acknowledged that housing in London poses the greatest threat to the UK economy at present. So by telling the banks that rates may increase before the end of this year he is trying to rein them in, without having to increase the base rate. Bearing in mind that Carney worked for Goldman Sachs and knows how bankers think this could be his warning shot.

Added to this you have the potential that the Financial Policy Committee (FPC) has been given the powers to force lenders to put in place a salary cap of 3.5 times a clients income. Again, I think that this is a warning - the Bank and the Treasury have a number of big sticks that could be employed to beat the lenders, but if the banks behave responsibly then the sticks go back in the cupboard.

“A rate raise and salary cap would not solve the problem in London ... but would seriously damage the market in the rest of the UK.” Personally I think that a rate raise and salary cap would not solve the problem in London – there are too many cash buyers or those with large deposits to really bring down prices; however it would seriously damage the market in the rest of the UK. I view the combination of a rate raise and a salary cap as a form of chemotherapy, trying to kill the cancer of the London market – all it does is damage the rest of the body (country) and leaves the cancer (London) hurt but still alive.

I think that regulation and state guidance

MORTGAGE MARKET

SLOWING THE MARKET?

CASH BUYERS S

A AL

AP RY C

TE R RA

LONDON PROPERTY MARKET

AISE

Using the same rules to slow the London property market as the U.K. market might inevitably put it to sleep, as it can hardly keep up as it is.

SA UK PROPERTY MARKET

The elephant in the room is always that we need to build more houses, especially in the South East. Without this, it does not matter what restrictions are put in place, or regulations enforced or salaries capped – houses will still be unaffordable and the market will not be fit for purpose. And the only way to make sure that house are built in large enough numbers (as I am not sure that private developers will not want to flood the market with new houses all at once and therefore drive down prices immediately)

is for the government to engage in a mass house building project, rather like after the First World War. Building houses puts so much money back into the economy as it is such a manual process, and so many other industries rely on it. Whether any government of any colour, though, would do this seems unlikely – presently it’s all about cutting spending, not increasing it.

Whilst that remains the housing market will continue to be lopsided, the mortgage market will follow suit and any further attempts at controlling or regulating, I think, will just end up with the rich being able to afford more, with a gap opening up between them and everyone else.

So let’s hope for a comprehensive house building project, coupled with sensible regulation and capital restrictions for lenders. And let’s prepare for a rate increase and a salary cap with no further extension of house building, because that is what we may end up with. I’m keeping everything crossed to make sure that we don’t.

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is very important in the mortgage industry and will help to keep it on the right path whilst growing the economy. Clearly self regulation does not work, but neither does state control. It should be the banks, without a tight regulatory framework, running the banks, with the regulators checking for capital liquidity, compliance risk and general market worries. State control will lead to a sluggish market that slowly kills the housing and mortgage industries, but still keeping properties out of reach for most people.

Y CAP L AR AISE TE R RA

INTERIOR & DESIGN

PRETTY LITTLE THINGS

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Ziiiro Saturn Watch £145 | timebyme.co.uk Acapulco Low armchair £326 | madeindesign.co.uk Giant 1227 – Anglepoise Floor Lamp £2400 | anglepoise.com Dinosaur Fossil Cookie Cutters £15 | notonthehighstreet.com Postcode Bangles £60 | whistleandbango.com

INTERIOR & DESIGN

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Grid Storage Shelf £60 | oliverbonas.com Olloclip Photo Lens for iPhone £60 | apple.com Connect Tree Tent by Tentsile £430.00 | tentsile.com Polk Audio Hampden Bluetooth speakers $400 | crutchfield.com This Is Paper Pocket Bag €70 | thisispapershop.com

KNOW MORE

WHEN TO BUY THE FREEHOLD? So you have bought a leasehold house, however that does not mean that you own it forever in the same way as if you had bought a freehold house.

It is rare to buy a leasehold house outside of Prime Central London, however if you have then you may qualify to force the Freeholder to sell you the freehold interest at the market price.

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You will know if you own a house on a leasehold basis as the lease will show an expiry date with a number of years remaining with an annual ground rent payable to the Freeholder as they own the land and the building in which your lease gives you the right to occupy until the expiry date.

Words: David Goldstone, MRICS www.capitalleasehold.co.uk

Leasehold Act 1967 and various subsequent legislation (in certain circumstances you can elect to extend the lease by 50 years at nil premium but with a modern ground rent payable on an annual basis which can be a substantial amount of money, in the majority of cases it is more profitable for you to buy the Freehold interest as soon as possible, even if you have say 96 years remaining, as local increasing property values in the future will increase the cost of buying your freehold).

At the end of the lease the right to occupy the house in law is transferred back to the Freeholder, this means that there is a potential problem to deal with now if you have bought a house with say 100 years remaining and you are not planning to sell the house within the next fifteen or twenty years before the lease drops below 80 years remaining, as this is the point whereby the cost of buying the freehold substantially increases (even if the lease drops below eighty years remaining by a single day).

You may have problems selling your house with even 85 or 90 years remaining as any knowledgeable buyer or their solicitor will point out that the buyer will have to deal with the issue of the lease extension before it drops below 80 years remaining, as if they do not, then the open market value of their house with vacant possession will decrease as the lease gets shorter.

There is also an additional problem that many mortgage lenders may not lend to your buyer with a lease below 80 years remaining which will limit the appeal to any buyer needing a mortgage.

You have the right as a Leaseholder to buy the Freehold at a fair market price (and to buy out your annual ground rent) under The

You can qualify to buy the freehold of your house at any point before the lease expires, however the shorter the lease,

KNOW MORE

Right to occupy goes back to Freeholder

If you’re a leaseholder, buying the freehold is like a ticking clock. Timing is everything.

Selling leasehold will be increasingly difficult

0

0

YEARS

10

80

LEASE

20

85

80

25

Price of the freehold substantially increases

30

70

Price of the freehold is very high

90

40

60

then the more expensive it will be, especially for houses with less than twenty years remaining, qualification rules are more complicated than extending the lease of a flat, whereby historic rateable values from as far back as the 1965 rating list can affect the basis of the amount of compensation payable to the Freeholder in order for you to buy the freehold. This is why it is imperative to employ the services of a specialist solicitor in order to make sure your legal claim is valid.

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Considering action? It’s recommended that you talk with a Chartered Surveyor who specialises in advising upon the fair cost of buying the lease extension or freehold.

They will also deal with the subsequent negotiations with ‘the other side’ in order to reach a fair price, but the sooner you take action, the cheaper it will be.

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BUYER’S GUIDe

Tips To Buy Buying a property, whether it’s a new family home, a starter for the kids, or a place to secure your savings is a stressful experience. It’s right up there with all of life’s major hurdles.

DO THE MATH

Some of our favourites include Mortgage Assistant (free) which comes from independent mortgage advisor, London and Country, and lets you easily compare loan rates and costs – it might not be fun, but it’s definitely useful.

The community based Property Network on Facebook lets users post information about prices and areas in an open forum, which others can then access and compare their own information with. Think of it as your personal insiders guide. Then once you’ve found your property, Home 3D will let you create your vision even as you slump in a pile of unorganized boxes. This iPad app (£3.99) lets you draw a room, and then pick colours and move furniture around, letting you picture and plan your future.

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And it doesn’t matter whether you’re a first time buyer or a seasoned veteran, there’s always room for a few more tips, tricks, and useful pieces of advice. So we’ve compiled a just scratching the surface list of just such information that will hopefully assist you in your hunt for the perfect property.

Get Online We all know how easy it is to while away a few hours on the SmartPhone. Games, music, video, and social media gives us quick fixes of relaxation. But what if we put that time to good use? Especially when you’re going through the logistical nightmare that is buying a property. There are a huge amount of cheap or free applications available for your phone that could prove valuable assets when you’re on the hunt.

BUYER’S GUIDe

Get Your Finances In Order This might sound like we’re telling you how to suck eggs, but it cannot be stressed enough: you need to know everything about your financial situation.

Because of the recent Mortgage Market Review (MMR), buyers will face far stricter checks when applying for a mortgage. The MMR rules have been introduced by the Financial Conduct Authority and they will involve stringent tests to ensure you can afford a mortgage.

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PREP YOURSELF

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Decide Where You Want To Live You will have a vision of where you want to live, probably a specific house. But the reality is that location is usually one of the first things that buyers – especially first timers – have to compromise on. There simply aren’t enough houses, and if you’re looking to lay roots in a specific street, you may be disappointed unless you’re in a very strong financial position.

Even so that doesn’t have to mean the end of the world. With good research you can find a fantastic new home. See Marc Da Silvas column in this very issue for detailed tips on searching for new areas.

Budget For The Hidden Costs Of Buying Putting aside the price of the property, there are many other costs involved in purchasing a home, and you would be wise to factor them into your overall budget to avoid any nasty surprises. These include a mortgage arrangement fee (around £1000), legal fees, including conveyancing (somewhere between £500 £800), stamp duty (a percentage of the property price, visit www. stampdutycalculator.org.uk to work out your potential stamp duty), surveys, removal costs, renovation, and new furniture (you deserve a treat).

CHECK THE BUDGET

Speak To The Local Council Find out what plans are afoot for the area you’re interested in.

There might be plans to build a convenient shopping centre or supermarket, or even a new outdoor space. But equally, there might be plans for new build flats or student accommodation. As ever, just ask.

Acknowledge That The Process Will Take Time Sure it would be great if you could find, make an offer, buy and move into a new home in a month, but it’s not going to happen. With some many variables involved, it takes time. If you acknowledge that at the start, you’ll save yourself a great deal of stress. On average, in England and Wales, the process can take over a year if you factor in 6 weeks to 8 months in order to find a property and make an offer, 2 to 6 weeks to exchange. And then a final month before completion and can finally move in.

BUYER’S GUIDe

Visit A Property More Than Once If you find a place you like, make multiple visits and take pictures. Try it on a weekday, in the evening and at the weekends.

This will help you get a feel for the property and the area, while hopefully exposing any nasty surprises, like noisy neighbors or busy roads.

Choose The Right Solicitor When selecting a firm to handle your paperwork, look for one with experience in the area you’re buying in. Even better is if a friend can recommend a firm to you.

Bring a trusted friend or family member along for a viewing, someone who is not moving in and can look at the property with fresh eyes. In the excitement it’s easy to miss things like limited power points, poor water pressure, bad mobile reception.

Go in the attic and under the stares. Check, check, check.

GET THE PAPERWORK

EYES AND EARS OPEN

Think About The Future Easier said than done when you’re right in the maelstrom of buying a property, but even so, you do need to think about your plans. How long are you planning on staying here? If it’s not forever, consider the resale potential for future buyers.

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Ask Questions You’re about to make a significant life decision, so you’re perfectly within your rights to grill every single person involved. Speak to your mortgage lender, your estate agent, other people’s estate agents, people in the area you want to move to, people in similar areas, call the schools, speak to shop owners, talk to the police (non emergency, of course). It doesn’t matter how insignificant you might think your question is, it’s not. MoneySavingExpert. com even advises that you ask if anyone has ever been murdered in the property you’re interested in.

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BUYER’S GUIDe

83

83 Is The Magic Number If you’re buying a freehold property, and you have plans to extend, you need to ensure that the lease has at least 83 years left on it. Below 80 and applying for extentions becomes very difficult, which will make selling up very hard. You have to have owned the property for two years before you can apply for an extension on the lease, hence the magic 83.

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Moment suprême

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Get Your Dream Home Off The Market If you’ve made a generous offer, insist that the seller take the property off the market. It’s one more way to avoid being gazumped, although nothing is truly safe until contracts have been exchanged.

Write Stuff Down If you ask the seller what fixtures and fittings are being left behind, ask them to put it in writing. And question anything they want to add on top of the price – research how much the fancy sink cost originally, and how much it’s currently worth.

Get A Second Opinion If you are financially able, get a second survey carried out on a potential property. Start with an initial homebuyer’s report, and then consider a full structural survey, especially if you’re moving into an older property.

TRIPLE CHECK

Check Your Connection Whether you rely on the internet for work or play, its worth checking out who the best providers are in the area. If superfast fiber-optic speeds are a deal breaker, you don’t want to find yourself living in an internet black spot.

Be Prepared To Compromise No one ever said it would be easy.

You can work your hardest to find the property of your dreams, but sometimes the many variables involved in buying a home conspire against you. Be prepared for that, and I will make the process run a lot more smoothly.

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THE STORY OF A MOVEMENT AND A COMMUNITY We at Design Hotels ™ are celebrating our 20th year of curating the most expressive and unique hotels worldwide. This special anniversary edition of our annual book looks back on the last two decades of innovative hotel design and forward to the future of cutting edge hospitality. The publication is available as a coffee-table book and a Limited Collector’s Edition that includes two timeless design pieces by Artek, the pioneering Finnish design company. Together, Design Hotels ™ and Artek have created a peerless objet d’art for design addicts around the world. Get your copy here: designhotels.com / book

Seller’s GUIDe

Is renovation right for you?

When looking to sell your property and move on, you will of course be eager to find ways to maximize the value of your house. And it has long been assured that renovation is a sure fire way to add the potential for a serious uplift in your property’s value when it does go to market.

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The appeal of additional space and a blank canvas in the eyes of the buyer cannot be underestimated, and there are plenty of very appealing looking numbers and reports that can back this up.

Robert Gardner, Nationwide’s Chief Economist, said in one report on the subject: “Having more useable space is generally thought to be consistent with better quality accommodation and people are prepared to pay for it. A 10% increase in floor space, other things equal, adds 5% to the price of a typical house, while adding space equivalent to the size of a double bedroom to a two bedroom house can add around 12% to its value.”

All of which sounds very nice, but a relatively new stealth tax might make you think twice about your planned extension. The Community Infrastructure Levy (CIL) will place a tax on any new

An example (in rough numbers) on how the ‘CIL tax’ is applied.

property extensions that exceed 100sq m, which isn’t very much, even in London. So you would now face additional expenses on top of your planned extension.

3 Bed house

So what’s the solution? We’ve spoken in Brik before about selling your property with preapproved planning permission, which typically costs around £300 (a fraction of what you could end up paying for with CIL in place).

This will appeal both financially and psychologically to potential buyers - not only does it mean one less headache and round of form filling in, but it will help them plan and pictures themselves in the future.

However, if you’re keen to extend but don’t much fancy another tax, then you can take your plans back inside your home and carry out some internal renovations.

From the small and simple – white washing the walls – to larger, structural renovations, including fitting a new kitchen or bathroom, it’s important to be consistent and strike a good balance.

There’s little point in splashing out on a futuristic kitchen when the hallway still looks like something from a 1970s sitcom. So if you can’t afford to completely renovate the entire property, choose simple quick fix projects such as deep cleans and new paint work.

3 Bed house

Value £1.25m

Value £1.25m

LOFT EXTENSION +30 M2

LOFT & BASEMENT EXTENSION +110 M2

COSTS

£650k COSTS

£75k

CIL £50k

4 Bed house

Value £1.4m

4-5 Bed house

Value £1.95m

If your property is already in good condition, then a kitchen conversion could add to your asking price. A bathroom conversion or the addition of an en suite will also add value because psychologically, anything involving plumbing is messy and takes time. Think, as ever, about tasteful neutral colours that can be quickly and easily added to by the new owners.

Sophisticated simplicity

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The simplest appearance often belies the most complex thinking. +SEGMENTO‘s exquisite and simple design hides decades of thought and experience. Thin worktops, handle-less surfaces and a purity of lines combine to refine the visual experience.

info@poggenpohl.com www.poggenpohl.com EXCLUSIVE POGGENPOHL KITCHEN DESIGN CENTRES Aberdeen Ascot – Berkshire Barnet – London, Herts Birmingham Carlisle Cambridge Colchester Dublin Edinburgh Exmouth Gibraltar Glasgow Guernsey Guildford Kilmarnock Leeds Leicester London – Finchley Road NW3 London – Knightsbridge SW3 London – Pimlico SW1 London – Clapham SW11 London – Waterloo SE1 London – Wigmore St W1 Manchester St. Albans St. Lawrence – Jersey Wilmslow – Cheshire Worthing – Sussex Winchester – Now Open For a brochure or details of your nearest studio please call 0800 612 9748 or visit our website www.poggenpohl.com

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+SEGMENTO

LANDLORD GUIDe

GUIDE FOR LANDLORDS The benefits of being a buy-to-let landlord cannot be underestimated.

Indeed, the Telegraph reported at the end of May the value of property owned by Britain’s thousands of buy-to-let investors nearly matching that of the entire country’s pension savings.

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‘At £1.25 trillion – £1,250bn – the value of the flats and houses owned by almost two million small-time landlords is catching up on the £1.6 trillion total amassed in workers’ pension schemes,’ reports the Telegraph.

But that said, the life of a landlord is not a simple one.

If you are a new landlord, or considering investing your savings into a buy to let property, you might be wondering whether you should invest in a single property that will offer high returns and low levels of maintenance, or build a portfolio of smaller properties that will require management.

The first thing you need to do is decide what you want out of your investment. Is this going to be your primary income? Or are you

looking for a secure place for your savings that with the right care and due course will appreciate in value?

returns of nearly 9pc for five years.

However, you’ll often need cash and the properties are often sold off plan before they’re completed.

If you sit in the former camp, a portfolio of lower yield properties might be the correct course of action. If we consider these buy-to-hold, and that you’re not a property developer who’s in the market to renovate and flip properties back on the market, then you’ll need to carefully access your finance and above all, start small. If you aren’t a cash buyer, you’ll need to find a buy to let mortgage, of which there are many, all of which are designed to ride the short-term ups and downs of the rental market.

If, on the other hand, you’re looking to squirrel away your investments in a single prestige property, there are some differences. You want to maximise your capital gain from the property against the rental yield, while, let’s assume, you maintain a more hands-off approach to the property.

If you’re looking to build a portfolio, like any landlord, you’ll need to think about who you want in your properties, as this in turn will dictate where you buy, especially if you’re a London based landlord.

Can you get in quick on the next upcoming area for affluent young families? Or do you want to invest near a university and service the ever present, but high maintenance, student market?

Some landlords are being lured by the admittedly tempting offers of investment in purpose built student accommodation, with investors being guaranteed

Like owning multiple buy to let properties, you need to think about who your customer will be. In case of a single high yield property, you will likely be looking for longer term tenancies, between eighteen months and two years. Your target audience will be young urban professionals, or, even better, a new family.

You’ll want a new build or a recently renovated property, this will hopefully ensure there won’t be any surprising and costly maintenance down the line. Avoid large family sized homes as these are often difficult to let, instead seek out the evergreen two-bed in a nice area. And if you’re going to be using a lettings agency to manage your property, make sure you do your research and don’t settle for the first offer.

Breathtaking technology.

Expressive design.

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Experience the stunning Loewe Individual television for yourself. Available from Loewe Galeries at Harrods & Selfridges and on Kensington High Street.

For other stockists: www.loewe.tv

INTERIOR & DESIGN

CUSHIONS Tatiana Velvet

Kate Sproston

Romo Jessica Zoob

£32 (Cover only) | okdirect.com

£44.50 | notonthehighstreet.com

£80 | johnlewis.com

Luxurious cotton velvet cushion in a classic pattern with contemporary rich jewel-tones, featuring a subtle print to give extra texture and depth.

A graphic style, modern colour piped wool cushion, which can be personalised with your chosen initial, set in a beautiful dark black on soft grey.

One of a stunning new collection of cushions featuring paintings that reflect the season as a love affair. By contemporary British artist Jessica Zoob.

Lady Peacock Cushion

Joan Miro Tapestry

Alexandria Amethyst

£72 | mineheartstore.com

£85 | conranshop.co.uk

£95 | designersguild.com

This unusual, digitally printed cushion features a portrait image altered in a surreal and arresting way. All are printed in England on cotton satin backed with black.

Each cheerful jacquard cushion from this colour-pop collection features a painting by Spanish artist Joan Miró. Bright and bold with oodles of character.

A digitally printed garden encompasses tulips and anemones on this lovely floral themed linen cushion. Natural linen reverse and beery trim.

Tokyo Cushion

Natas Collection

Boeme Paon

£98 | jonathonadler.com

£48 | jevousenprie.com

£76 | heals.com

This bright needlepoint cushion will brighten up any room with a bright primary colours.

Handmade from 100% wool with a velvet back. 23cm x 30.50cm

Je Vous En Prie are a design duo specialising in British woven furnishing fabrics. This cushion is the Rococo made from fluorescent pink and purple silk.

This beautiful teal coloured cushion is very much on trend this season. Featuring lush and vivid peacock feathers printed on velvet.

30cm x 60cm

Zig Cushion

Paradise Swan

Blue Blotch Bee

£12 | habitat.com

£35 | designersguild.com

£60 | timorousbeastie.com

Zebra patterned cushion with a playful design which would be great in a child’s bedroom or casual sitting room. The bright fabric will add a flash of colour to any sofa. Made from cotton with a polyester filled pad

An enchanting vision of a swan at home on a turquoise lake, with dragonflies and butterflies for company amongst the flowers, pictured in a bright and playful palette. Perfect for a childs bedroom

“Timorous Beasties “ was established in Glasgow in 1990 by 2 textile designers. The bee design is one of their trademarks.

This particular cushion is a fantastic colour and slightly edgy/ chic. Made from 100% cotton.

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Compiled by Magenta Pink Interiors, magentapink.co.uk

INTERIOR & DESIGN

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Lalor Street An outstanding fully extended Victorian family home, finished to the highest specification with discerning taste.

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Arranged over five floors and extending to 2,734 sq ft (254 sq m), both the bedrooms and living spaces have been carefully configured to maximise the available space, accomodating five bedrooms, four bathrooms, a double reception room and a playroom.

5

2,734

ÂŁ2,999,950

BEDS

sq ft

for sale

CAMPANA ROAD

An outstanding fully extended Victorian family home, finished to the highest specification with discerning taste.

An outstanding, fully extended Victorian family home, on one of Parsons Green’s most sought after streets. The house has been fully renovated to the highest specification throughout and extends to just under 1,750 sq ft (162 sq m).

Arranged over three floors, the property features four double bedrooms, all of which are en-suite, as well as an impressive entertaining space.

4

1,741

ÂŁ2,350,000

BEDS

sq ft

for sale

ST. MAUR ROAD

A beautifully refurbished, five bedroom Victorian terraced family house, superbly located just off the Fulham Road in Parsons Green.

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This incredibly stylish family home offers in excess of 2,120 sq ft (197 sq m) of space and is arranged over three floors. On the ground floor is a large double reception room with high ceilings and original features, entrance hall, separate W.C and extended bespoke kitchen breakfast room with bi-folding doors leading out onto a 20ft paved rear garden.

5

2,120

ÂŁ2,500,000

BEDS

sq ft

for sale

GOWAN AVENUE A stylish and recently renovated Victorian family home with four bedrooms and three bathrooms on a very popular and quiet residential road in Munster Village. The house has been extended to just under 1,850 sq ft (172 sq m), and has plenty of entertaining space with a spacious double reception room and side-extended kitchen on the ground floor, leading out on to a landscaped rear garden.

4

1,849

ÂŁ1,795,000

BEDS

sq ft

for sale

BURNTHWAITE ROAD A superb, interior designed two bedroom split level flat, has recently been refurbished to exacting standards by The Artius Group and provides stylish and bright living space throughout. The property extends to appoximately 1,001 sq ft and is finished to the highest quality with bespoke hand-crafted kitchen, underfloor heating in the living space and bathrooms.

2

1,001

ÂŁ999,950

BEDS

sq ft

for sale

Fulham Road An outstanding and exceptionally light three bedroom lateral conversion flat, which forms part of a substantial Victorian house on the borders of Chelsea and Fulham. The property has been finished to a high standard throughout and is in excess of 1,300 sq ft (121 sq m) arranged over the top two floors of the building.

3

1,310

ÂŁ1,395,000

BEDS

sq ft

for sale

MUNSTER ROAD A large Victorian family home offering nearly 1,800 sq ft of living space including four bedrooms, three bathrooms, double reception room, separate W.C / utility room and an extended kitchen/breakfast room with doors leading onto a private garden.

There’s also further potential to add a significant extension which would include building into the side return, adding a ‘pod room’ and potentially a large basement.

4

1,797

£1,695,000

BED

sq ft

for sale

BROOKVILLE Road A superb, three bedroom Victorian family home located on Brookville Road, in the popular Villes area of central Fulham, not far from Parsons Green. The house is currently 1,141 sq ft (106 sq m) arranged over two floors, and has planning permission in place to substantially extend the house into the side return, loft, pod room and basement, if required.

3

1,141

ÂŁ1,495,000

BEDS

sq ft

for sale

CRABTREE LANE A spacious and stylish five bedroom Victorian family home located on a desirable road in the Crabtree Conservation Area. The house extends to in excess of 1,900 sq ft (177 sq m) and is arranged over three floors with the addition of a 378 sq ft (35 sq m) cellar which provides excellent dry storage space.

5

2,283

ÂŁ1,695,000

BEDS

sq ft

for sale

BISHOPS Road A well presented Victorian family house on Bishops Road. The property is currently arranged over two floors and extends to 1324 square feet. The ground floor has a double reception room, useful utility space, cellar and kitchen breakfast room leading to a paved garden.

3

1,324

ÂŁ1,495,000

BEDS

sq ft

for sale

FULHAM PALACE ROAD

An impressive, semidetached Victorian family home, situated in the Bishop’s Park area of Fulham.

Arranged over three floors, this spacious house extends to just under 2,669 sq ft (248 sq m). On the ground floor is a grand, Victorian tiled entrance hall where there’s access to a study and a formal reception room with high ceilings and period features. There’s also a cellar with storage space and utility area. At the rear of the house is a family room which opens out to a modern kitchen/breakfast room, with Miele & Siemens appliances.

From the kitchen a series of bi-folding doors opening out onto an impressive 60 ft South West facing garden, which is undoubtedly one of the properties main attractions.

5

2,669

£1,500 pw

BEDS

sq ft

TO LET

WARDO AVENUE A beautiful and bright five bedroom Victorian family home. On the ground floor there is a sizeable reception room with wooden flooring that leads through to a larger than average kitchen. There’s also an outside space that runs off the kitchen, a ground floor WC and access to a useful storage cellar.

5

2,056

ÂŁ1,300 pw

BEDS

sq ft

TO LET

HORDER ROAD A well formed three double bedroom Victorian family home. These properties are extremely popular because they are some of the most affordable and difficult to come by. The ground floor of this house is split between a reception room at the front and a modern kitchen breakfast room to the rear, which leads out onto a South facing rear patio/garden.

3

1,087

ÂŁ775 pw

BEDS

sq ft

TO LET

BISHOPS PARK MANSIONS A spacious two double bedroom, ground floor flat with large reception room, recently updated kitchen, communal gardens to the rear and tennis courts to the front. Ideally located in a popular mansion block next to Bishops Park, less than 10 minutes walk from Putney Bridge underground station (District Line, Zone 2).

2

926

ÂŁ525 pw

BED

sq ft

TO LET

COLEHILL LANE A beautifully refurbished, two double bedroom garden flat, skillfully finished to a high spec throughout. The large open plan kitchen and modern outdoor patio are brought together as one cohesive indoor and outdoor space through the opening of wide bifolding doors. This creates a superb entertaining and living space.

2

735

ÂŁ500 pw

BED

sq ft

TO LET

GET IN TOUCH Contact

020 7384 6790 hello@brik.co.uk brik @briklondon brik.co.uk 77 Parsons Green Lane, Fulham, SW6 4JA

WE BELIEVE

MEET BRIK Mike Horne Co-founder NFOPP qualified

Chris Littlewood Co-founder NFOPP qualified

Ben Littlewood Co-founder NFOPP qualified

James Sims Sales Manager NFOPP qualified

Ben Francis Sales Associate

Tyrone Olivier Lettings Manager MARLA

Holly Jennings Lettings Associate

Tegen Montgomerie Front Desk

Call us for a free valuation: 020 7384 6790

Alex Weldon Sales NFOPP qualified

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Like many people we believe estate agency is in need of improvement. We started Brik to challenge the status quo and our reputation has grown by delivering record breaking prices and quick sales with minimum fuss. Our formula is simple, sound advice plus friendly approach equals good result.

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