Case Studies
Updated: Aug 24, 2022
The best property buying agents add value beyond sourcing and acquiring a property.
Ludgrove often acquires rare off-market properties below the asking price and with considerable upside potential. Our property finding service is also saves you considerable time, hassle and takes the stress out of the buying process. That's why we are ranked one of the UK's best property finders by Spears, Prime Resi and E-Private Clients.
Below are some case studies. Feel free to get in touch for a free consultation.
Fraser Slater
Tel: 0207 889 2860
Email: info@ludgroveproperty.com ...
Kensington House
The Problem
Our client wanted a 6 bedroom family house with high ceilings, lateral space, a garden and with substantial property development potential. They also wanted to be in quiet location within a short walking distance of Kensington High Street. As time poor clients they were also reluctant to enter into a competitive bidding situation.
The Solution
Through our network of off-market contacts we found the ideal house before the property went for sale on the public market. Our client was the first to view and we were able to negotiate an exclusivity period so the buyer could proceed safe in the knowledge that they would not be outbid.
The Outcome
Our expert buying agent Fraser Slater negotiated a price 30% below recent comparable sales. Our analysis of historic sales on the street and our inside knowledge on upcoming developments (where £/PSF asking values were almost double our agreed offer) made this an excellent deal. We also took the time to bring in architects, structural engineers and planning consultants to scope out the property development potential.
Our client is currently undertaking the works and once complete we estimate they will see around £4m profit from this property; an amount many multiples of our fee.
Kensington Apartment
The Problem
Our client required a wide 3 bedroom apartment with high ceilings and outside space for their young family. They wanted to be within walking distance of their children's primary school and located on one of Kensington's premier streets. Their budget was £1.9m including any refurbishment or development works. They also required a minimum of 1,200 square feet living space and a good rental yield if they decided to let in the future. Typically apartments like this are priced around £2.5m.
The Solution
Garden apartments with lateral living space are extremely rare in this area. Through our network of contacts we sourced an unusually wide, white stucco-fronted apartment with 3 metre ceilings on one of Kensington's finest streets. The apartment had a large west-facing garden and potential to extend at the rear in line with neighbouring properties. The condition of the property was extremely poor having been in the same family for over 50 years.
The Outcome
By offering a quick exchange we agreed a £1.5m purchase price, well below comparable sales in the area. Our client then carried out a full interior refurbishment, reconfiguration and extension at the rear creating a bespoke space that met all their requirements. The acquisition and building works cost £1.9m and the property was subsequently revalued by an independent surveyor at £2.5m. The rental yield on their capital invested was 4.5%, well above local yields of 3.3%.
Notting Hill
The Problem
Our client had lived in Notting Hill for a number of years and were in the process of moving to the country. They still wanted a base in London and were looking for a 2 bedroom pied a terre on one of Notting Hill's premier streets with a large garden, a south or westerly aspect and a modern design. Their budget (including any refurbishment or development costs) was £1.4m. Typically an apartment like this would cost around £2m.
The Solution
In the off-market we sourced a poorly-configured, un-modernised, 1 bedroom apartment with high ceilings and a west facing garden on one of Notting Hill's finest streets for £1m. Before we acquired we sought the advice of an architect and planning consultant, to assess if planning permission was likely to be granted for a rear extension.
The Outcome
Our client achieved planning permission for a rear extension and carried out a full interior refurbishment and reconfiguration, creating a wonderful 2 bedroom modern home that met all their needs. The acquisition and building works cost £1.4m and the property was subsequently revalued by an independent surveyor at £1.9m.
Chelsea
The Problem
Our client required a 2 bedroom apartment close to the Kings Road in Chelsea with high ceilings and outside space. Their budget was £1.55m including any refurbishment or development works. There are very few apartments at this price point and in this location with outside space.
The Solution
We found a poorly configured apartment with high ceilings and huge potential at a discounted price. The property overlooked a communal garden but without a door to access the garden. Our knowledge of the street led us to believe there was indeed an exterior door that had been infilled over the years (unknown to the Vendor). We visited the local council planning department where we found a plan from 1965 that showed a rear door to the communal garden did in fact exist.
The Outcome:
Our client reconfigured the interior space and opened up the concealed door giving them direct access to the communal garden. They achieved their dream of a garden flat near the Kings Road at a discounted price.
Surrey
The Problem
Our client required a 5 bedroom detached house in the Surrey commuter belt on a half acre plot with a southerly aspect, close to local schools. Ideally they wanted a swimming pool, games room, mature garden and a house with a modern facade. Their budget was £1.9m including any refurbishment or development works. Houses with these features at this price point don't exist.
The Solution
We found a 1970's detached house on a half acre, south facing plot with an unattractive facade. Internally the house had good lateral space being laid out over 2 floors with 4,000 square feet but with only 4 bedrooms. We sought the advice of an architect who advised the local planning department would be likely to approve a contemporary facade and a side extension so a 5th bedroom and games room could be added.
The Outcome:
Our client achieved planning to transform the facade of the property into a contemporary design and extend at the side enabling a 5th bedroom and games room. This was achieved at a cost some £600,000 below similar properties.
Ludgrove is ranked as one of London's best property buying agencies by Spears, Prime Resi and E-Private Clients. We find properties for home-owners, investors, family offices and developers. Case studies of our work can be found here.
To discuss your property requirements feel free to contact us. We'd be delighted to hear from you:
+44 (0)207 889 2860 or
Email: info@ludgroveproperty.com