Existing clients, committed to the long-term benefits offered by Prime Central London, were keen to add to their portfolio by purchasing a property in another of PCL's micro markets or 'villages'. Based overseas, LCP's unique 'one stop' service, including purchase, refurbishment, letting and management offered them a hassle-free and appealing route to market.
Long lease (80+ years) or Share of Freehold
- Search area:
South of Hyde park with Victoria Station easily accessible (Gatwick Express)
- Specific preferences:
Two bedrooms, attractive period architecture, in need of refurbishment
- Purchase price budget:
The final selection
A spacious two bedroom flat on the second floor or a well-maintained period building in the Pimlico Grid.
The flat had been well-lived in, only had one bathroom and the second bedroom was only a single. One bathroom is not ideal as it discourages sharers limiting the pool of potential tenants. The refurbishment team were able to move the kitchen to the reception, creating space for a large wardrobe and en suite bathroom for the master bedroom; in addition to reducing the size of the family bathroom to make the second bedroom a proper double with storage.
The interior design scheme was specified to be high-end with a neutral pallet, attractive to blue-chip international tenants.
- Agreed purchase price:
The end result
Not surprisingly, the flat proved very popular with the rental market. LCP were able to select a professional couple working in the financial services sector and the tenancy commenced within a couple of weeks of the flat coming to market.
- Gross rental yield:
- Valuation post-refurbishment: