Oscar Wilde once said: “Consistency is the last refuge of the unimaginative”. He may even have said it twice, or thrice. We don’t know. But we like the sentiment.
Regular estate agency for regular property works on the basis of consistency: “This is what we sold that one for, so that’s what we’ll sell this one for.” It works for terraced houses, even semi-detached ones, and is ok for standard modern apartments too. What they all share in common is this: we don’t go anywhere near them.
Railing against convention is the only consistency we’re interested in (well, that and being really good), and in the story we are about to tell, our bolshie beliefs won our client £150,000 more than the valuations of local agents.
Now then, are you sitting comfortably?
You may remember a little while back, we brought a converted Button Factory in Clapton to the market for £850,000. You don’t remember? Well, we did. Locals – particularly estate agents – scoffed and coughed at our insanity: “You’ll never get that” and other such pearls of property wisdom. In a way, they were right; we didn’t get that, we got more. In fact, the level of interest was so intense, that we went to sealed bids.
So what was going on? Keen as we are to take all the credit, we are happy to accept about 50% of the credit! It is a truly marvelous property, a rarity even in our own specialised marketplace: an entire warehouse converted into a single house, with a large garden at the back. We were instantly charmed with the building’s complete originality, and the reaction from buyers was equally enthusiastic. Once we’d agreed the sale to one hugely delighted buyer, we were left with a whole bunch of wildly disappointed others looking for just that sort of thing, knowing only too well how they’d probably missed out on an opportunity that’s only likely to arise every few years. But this was achieved by having access to a far reaching audience, far beyond the data bases of any ‘local’ agents.
Of course, what’s also going on is ‘The Money’ is moving east. No longer are people using Clerkenwell and Shoreditch as the eastern boundary of their search. Now they’re going deeper, and cheaper. EC1 and EC2 property values now match those of longer-established, high-end London districts like Chelsea and Islington, but go one postcode further and the prices begin to drop very considerably. Large fashion houses, designers and similar brands and businesses are glancing further to the right on the map of the capital.
People who already live in the East End can now capitalise on the new interest from those who previously ignored them, while the new people and industries going in will unquestionably transform those areas, creating a ‘Next-Factor’ with their mere presence, and lifting prices yet further. If you own something ‘interesting’ in East London, come and talk to us about it and let us show you how we can achieve an outstanding price beyond the imagination of the ‘locals’.
An opportunity for everyone.