Brik Magazine May 2014

MAY 2014 20 OUTDOOR INDOOR 22 KNOWN KNOWNS 34 OPEN DOOR POLICY

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CONTENTS

ISSUE 18 BRIK MAGAZINE MAY 2014

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34

MARKET COMMENT

OUTDOOR INDOOR

Open Door Policy

Marc Da Silva, Property Market Specialist

Nick Wood, How About Studio

Mike Horne, Brik

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22

36

BRIKOLAGE

Known Knowns

A DOZEN UNBREAKABLES

PROPERTY MARKET

NEWS & INTERESTS

INTERIOR & DESIGN

MORTGAGE MARKET

Alistair Hargreaves, John Charcol

SELLER’S GUIDE

LANDLORD’S GUIDE

Tyrone Olivier, Brik

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24

38

Make your home your castle

Buying the freehold

SIDE TABLES

Matt Hill (T3 Magazine)

David Goldstone, Capital Leasehold

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Art and Your home

GUIDE TO BUYING

Justin Quirk, Editor House magazine

James Sims, Brik

13 INSPIRATION TRANSMISSION

26 PRETTY LITTLE THINGS

HOME TECHNOLOGY

INTERIOR & DESIGN

Magenta Pink

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INSPIRATION

KNOW MORE

BUYERS GUIDE

40 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.

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Property Market

MARKET COMMENT With demand outstripping supply, property prices in the capital are still increasing, while the rental market also remains highly active, says property journalist Marc Da Silva.

Words: Marc Da Silva Property Market Specialist

The improved economic outlook, supported by rising consumer confidence, falling unemployment and low interest rates, suggests that the economy should achieve the Bank of England’s 3.4% annual growth forecast for 2014,

Two-tier housing market The average price of a home in England and Wales was £170,000 in February, up 5.3% year-onyear, the latest Land Registry figures show, revealing wide regional differences between London and the rest of the country. While annual home prices actually declined 1.3% on average in north east England, values surged by 13.8% in the capital to £414,356, illustrating the widening two-speed housing

+5.3% UK £170k

LONDON £414,356

AVERAGE HOUSE PRICE

+13.8%

market, with price growth in London outstripping the rest of the UK by a country mile. Despite this latest increase, property prices still remain over £11,000 below the average price peak recorded in November 2007, suggesting that there is even further room for property price appreciation.

Cheap mortgages fuel transactions Just over one million homes were sold nationwide in 2013, according to HM Revenue and Customs figures, with some experts expecting the number of housing transactions to rise further this year, supported by historically low mortgage borrowing rates.

There was a sharp increase in mortgage lending in February, with the latest data from the Council of Mortgage Lenders (CML) estimating that total gross mortgage lending reached £15.2 billion, up 43% compared to the £10.6 billion lent in the February 2013 – the highest total for a February since 2008.

“Housing market indicators have continued to be strong over recent months, once seasonal factors

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The housing market is continuing to benefit from the UK economic recovery, which appears to be on the right track, with property transactions and prices rising across many parts of the country.

UK economic growth was recently confirmed at 0.7% for the final quarter (Q4) of 2013 compared to the previous three months and was up 2.7% on Q4 2012, giving Britain the best-performing economy among the G10 nations, according to the Office for National Statistics (ONS).

“The underlying story remains one of an economy that performed surprisingly well over 2013,” said Howard Archer, Chief European and UK Economist for IHS Global.”

while also increasing demand for properties nationwide, driving up values in the process.

Property Market

3.7%

30.8%

3.7% 4.3%

in 5 years

7.4% 8.6%

ESTIMATED FUTURE AVERAGE PROPERTY PRICE GROWTH

have been taken into account,” said CML’s Chief Economist, Bob Pannell. Demand for low-cost mortgages is being supported partly by the Help to Buy scheme which enables purchasers to acquire property with a low deposit, from just 5%.

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43%

£15.2b

2014 : Q1

£10.6b 2013 : Q1

TOTAL MORTGAGE LENDING

Capital growth With recent housing market improvements attracting more buyers, from first-time purchasers to investors, the Office of Budget Responsibility (OBR) has revised its forecast for UK property price growth in the next five years from 27% to 30.8%.

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‘15

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According to the independent fiscal body, growth of 8.6% is anticipated in 2014-15, but will overtime slow down to 3.7% in 2018-19, respectively. Property price gains are expected to be fuelled by a widening supplydemand imbalance and less stringent mortgage lending conditions which is already pushing up property transactions.

Help to Buy Help to Buy’s success since being introduced in April 2013 persuaded the Chancellor George Osborne to extend the Equity Loan element of the initiative, which is delivering around 2,500 new home reservations a month, until 2020, four years later than when it had been due to end. The move should further support demand from buyers, particularly first-time purchasers, for new homes.

The government says that sales of newly-built homes have soared by 29% since April 2013, thanks partly to Help to Buy, with 77% of homes purchased under the initiative located outside London and the south east.

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New homes The rise in demand from buyers has given developers the confidence to increase house building levels, with new housing starts rising by 23% year-onyear to 122,590 in 2013. “We are materially increasing the number of new homes we are building as a result of the continued recovery in the housing market across all regions,” said Mark Clare, Chief Executive of Barratt Homes.

The Home Builders Federation’s (HBF) latest Housing Pipeline report - a strong forward indicator of future levels of home building – shows that planning permission was granted for 52,534 new homes in Q4 2013, the highest quarterly total since Q1 2008. Some 174,471 planning permissions were granted in England last year, the highest annual figure since 2007 Furthermore, the Government believes that the recent extension of the Help to Buy initiative will support the construction of at least another 120,000 more new homes.

Property Market

Private rental market With attractive rental returns achievable, more people are now entering the private rental sector, as buy-to-let consolidates itself as the investment of choice, partly due

to the dismal returns savers are currently receiving from banks and building societies. Rents in the UK have risen by nearly a tenth in the past 12 months to just over £750 per month, on average, led by gains in London. But even so these rents in London have struggled to keep up with house prices, with values in the city having appreciated five times faster than rents in the capital since 2005. House prices in London rose by 62% between January 2005 and December 2013, while rents increased by only 12% over the same period, the ONS said.

Whilst across England, prices increased by 26% on average over that period, compared to just 9% increase in rents. The ratio of prices to rents is important because the rental return on a property is a key long-run indicator of its fundamental value.

Rather than forecast a decline in property prices, most experts are projecting that values in London, which continue to operate in their own microclimate, will rise still further in the short to medium term, along with rents, as more people seek accommodation in the city and it continues to be on the radar of hot buyers from abroad.

Ripple effect Historically, UK property prices have demonstrated a distinct spatial pattern over time, rising initially in a cyclical upswing in prime central London, then wider London and the south east, before spreading out nationwide. This is known as the ripple effect and can also be tracked from area to area through the suburbs of London. A glance at the property market suggests that history is repeating itself, with values soaring across many parts of the capital, and good quality property that is correctly priced currently flying off the shelves, with best and final offers occurring with increasing regularity.

The housing market in London has had a three-to-four-year head start on the road to recovery, and the reality is that other parts of the country are only just starting to catch up. Whether this dramatic increase in prices is evidence of a ‘bubble’ that can burst, or an easy way to sell newspapers is yet to be seen.

What is more likely is a cooling of prices as the economy catches up and the added value filters out across the country.

SALE VALUE GROWTH 2005 £225,000

London 2005 £151,000

UK

+26%

+62%

2014 £170,000

RENTAL VALUE GROWTH 2005 £1,353 pcm

London UK

2005 £744 pcm

+9%

2014 £811 pcm

+12%

2014 £1,516 pcm

2014 £414,356

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London’s Housing Strategy Even with the rise in new build homes, there still remains a chronic shortage of properties, with experts estimating that around 250,000 new homes are needed annually to meet the growing demand. The shortage of homes is most acute in London, but the Mayor of London Boris Johnson is trying to address the issue. He recently updated his Housing Strategy, which will see up to 10 ‘housing zones’ created along with three garden suburbs, including sites at Barking Riverside, where building work is already underway, Beam Park in Dagenham and at Thamesmead.

The document, published at the end of March, sets out a longterm ambition to boost the supply of new homes being developed in London annually to 42,000 over the next 20 years, including around 17,000 affordable homes and 5,000 purpose-built longterm market rent.

www.oliverbonas.com

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NEWS & INTERESTS

BRIKOLAGE

Maddie On Things PHOTOGRAPHY

BORIS CARS London news

Bolloré’s president Vincent Bolloré, who was responsible for the ‘Autolib’ car-forhire scheme in Paris said he’d like to station the first 100 vehicles as soon as March 2015, and have a network of 1,300 to 6,000 charging stations by 2018. It could make owning a car in London even less desirable.

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Just at the end of last year, the South West of London was stocked with Boris bikes, but last March the French battery company ‘Bolloré’ published its ambition to stock the capital with electric cars for rent, similar to the Boris bike scheme. Londoners will be able to hire the cars and drop them off at any of the thousands of charging stations around London. When fully charged, the cars will have a range of 150 miles. Pricewise it’ll likely cost a bit more than hiring a Boris bike but the pricing strategy won’t be wildly different from hiring a Boris bike either; drivers will typically be charged £5 for an half-hour journey plus a monthly £5 membership.

For those of you who haven’t heard the story of Maddie yet, you should hear it now.

What started out as a humble adventure between man and man’s best friend developed into an exciting art project

by Theron Humphrey and Maddie the Coonhound: A series of charming, quirky photographs starring Maddie as the main character. The plan was to traverse the 50 states of America over the course of 365 days and meet one person each day. Theron wanted to capture the pickup truck in which they were traveling and his companion from the start: Maddie. When he placed Maddie atop of the truck and told her to stay he discovered Maddie’s hidden talent, her ability to simply stand on things. The product of their adventure is the wonderful photo-book ‘Maddie On Things’ showcasing the quirky Maddie and her exceptional talent as she poses on an exciting array of bizarre objects. £7.69 | amazon.co.uk

NEWS & INTERESTS

THE ASTON MARTIN BOOK René Staud The Aston Martin has become a symbol of English class, a gentlemans car with just the right amount of aggression (an image primarily created by the James Bond movies). To celebrate Aston Martin’s 100th birthday in 2013, this April the Aston Martin portfolio was published in ‘The Aston Martin Book’, an impressive history lesson on the definition of ‘British cool’.

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NGRAM VIEWER APPLICATION There’s a new toy in Google town. What was once a search engine to explore the far corners of web 1.0, has proven to evolve into a documentation of the world. Just recently the wizards at Google launched Ngram Viewer, a tool which allows you to compare usage of words in literature throughout the last 300-400 years. In 2010 Google said to have documented just under 130 Million different published books, with an average of between 60,000 - 100,000 words per book that means the Google Ngram Viewer quickly scans over 10 trillion words for rendering into a nice graph for you to peruse. It’s almost as if every word tells a story, as our search ‘internet vs telegram’ nicely illustrates above. Google it.

CATABLE DESIGN Hong Kong based design studio LYCS Architecture have designed a quirky but beautiful desk which creates an exciting landscape for your cat to explore... and for you to work on. The days of being unable to get any work done because your cat is taking a nap on your keyboard are now behind us.

NEWS & INTERESTS

BONSAI TREE COVER A symbol of perfection, dedication and patience the Bonsai Tree has been a fascination since their early conception in the early 7th century in Japan. They symbolise the harmony of nature created from an idealistic human viewpoint. “A tree that is left growing in its natural state is a crude thing. It is only when it is kept close to human beings who fashion it with loving care that its shape and style acquire the ability to move one”, as neatly described by Utsubo Monogatari in The Tale of the Hollow Tree (920 AD). With so much weight devoted to profit and return in the modern West it is a symbolic antidote of

dedication and integrity from the ancient East and is a fitting metaphor for how we believe business should be conducted.

Interestingly it seems that it is where the two cultures overlap that the most compelling ideologies arise, such as Steve Jobs’ fixation with the Zen Gardens of Kyoto, the Western fascination with Buddhism or the commercial success of books like Shantaram (where a guy from the West makes a new life in an Indian slum).

Perhaps it’s nothing more than inspiration on a different way of thinking, or maybe it’s a useful reminder for those of us in the West that all that sparkles is not always gold.

THE psychopath TEST

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JON RONSON to stay out of jail, and what criteria is used to make certain behaviour a tangible mental disorder?

Although perhaps a more frighting question, Ronson asks if the insane have a controlling role over our lives. Ronson visits Al Dunlap, a man who was hired as CEO by a large corporation to fire people, because ‘he enjoyed doing so’, using phrases such as“you have a nice car, but you don’t have a job” to dispatch his unknowing victims.

He also reveals how in the entertainment industry there is a special formula to filter out the right amount of insane to allow reality shows to remain entertaining.

A hilarious and fascinating read, from which you may even start questioning your own madness, as well as that of those around you. A good one for the commute.

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“Prozac is the perfect drug, if they’re on Prozac they’re upset enough to be entertaining.”

Where is madness to be found? Nearer than you might think, you come to realise while reading Jon Ronson’s ‘The Psychopath Test’. The book, which has been around since 2011 could be quite an interesting read for you potential psychopaths who haven’t discovered it yet. It takes you on a journey through a world of madness, addressing not only the more stereotypical criminal psychopaths, but also critically looks at the corporate and entertainment industries to discover madness in whole new applications. To start is a core question: ‘Who defines madness’?’. Ronson targets the contradiction of whether madness is potentially defined by ‘the mad ones’ and if perhaps too many sorts of behaviors are labeled as mental illnesses and where and who draws the boundary.

Ronsons’s journey logically starts with a man who claims he ‘faked’ a mental illness

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

INSPIRATION TRANSMISSION

STONE & GLASS

BATH, UK

Oxfordshire, UK

Designed by local architects Mitchell Taylor Workshop, this school building uses traditional shapes and lines, minimalised into a contemporary piece of modern architecture. By introducing a slate-like grey brick the area’s architectural heritage is referenced, and it creates a fascinating contrast with the historic building close by.

London-based studio The Manser Practice had the right idea: combine Cotswold yellow brick with mathematical lines in a woodland area, and you’ll get this stunning modern house, loyal to the landscape while breaking it with geometric shapes. An impressive interpretation of the local architecture.

Parisian house PARIS, FRANCE This 100 year old house in Paris was given an impressive extension by local studio CUT Architectures. The red cedar cladding is a refreshing alternative to what you would expect to find gracing French architecture, and creates a beautiful contrast with the blue skies of the warm Mediterranean climate.

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NEW SCHOOL

INTERIOR & DESIGN

VICTORIAN QUEEN

14 brik.co.uk Crowned with an original 1950’s Murano glass chandelier from southern Italy and a glass balustrade the stairwell transports natural light down into the basement below.

INTERIOR & DESIGN

Space is all relative, in both size and interpretation, as proven by Veronica Lucey from Magenta Pink Interiors. Without alienating one space from another she has successfully managed to design each room within this Fulham Victorian period home having its own unique mix of contemporary features and warm character. The spaces are balanced cleverly to allow them to sit both together as a whole and stand separately

as individuals, and it is this juxtaposition that makes the house seem like there’s a whole lot more to it and hence even larger than it actually is. This is amplified further by a stream of light that connects through all the ground floor rooms flowing from a six meter long skylight. A refreshing take on the use of interior design working symbiotically with architecture. magentapinkinteriors.co.uk

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Home Technology

Make your home your castle It’s all well and good filling your designer digs with the most stylish, connected and futureproof of technology to enrich and upgrade your life, but if your first line of defence against someone breaking in and swiping it all doesn’t stretch beyond bedside light timers and having a friend pop round to turn the telly on and off, it could all be in vain.

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So it’s handy that the connected home is quickly becoming 2014’s most burgeoning technological trend, with household security reaping the ensuing development benefits, as plenty of clever app minds are turned to the subject of safety. We’ve talked about the now Google-owned Nest before, fine purveyor of phone-controlled thermostats and smoke alarms, but there are many similar iSecurity options, small and large, that make the most of the ubiquity of Apple and Android smartphones.

Words: Matt Hill Editor T3 Magazine

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“Lights will be programmed, locks will be automated, disturbances will be filmed, your home will be a connected fortress of total security.”

The August Smart Lock is one of the most impressively focused ideas, replacing the interior portion of your doors’ deadbolts with tiny Wi-Fi-connected computers that unlock them automatically when your pocketed phone approaches and then shut up shop thoroughly when you leave.

For the more analytical of household, August key profiles can be assigned to individual family members to keep a daily

August Smart Lock, unlocks your doors when you (your phone) approaches the house, and locks it when you’re moving away from it.

Home Technology

log of comings and goings; for the more spontaneous, they can be sent temporarily via encrypted messaging to a phone of your choice like a Dropbox link, allowing instant access from afar if you need to, say, have a friend come round and turn your telly on and off.

But of course, there’s no need to do that anymore. A raft of complexly designed but easy to understand home management systems have the speedy servers and

individually but can talk to each other and synchronise if you want to widen your coverage. Each contains a HD video camera and a smorgasbord of sensors and accelerometers tracking sound, motion, temperature and even air quality, updating Canary’s servers and your app-endowed phone in real time. Alarms can be raised and lowered depending on your findings.

Connected clever-clogs SmartThings takes this on even further, building a partner network of interconnected lifestyleboosting devices on top of its own, inviting the likes of automated Philips Hue light bulbs, Withings sleep monitors and our good musical friend Sonos to the connected party. Every connected home, after all, needs a hub.

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Canary registers movement around your house, from motion, temperature and air quality to vibration, sound, and activity.

intuitive interfaces to do that all for you, letting you control, and protect, all aspects of your homestead when absent.

Some, such as Iris, championed by US retail bigshot Lowe, are more old-school, almost industrial sensor and camera networks that offer compatibility with a huge variety of security hardware, but charge a monthly fee for the privilege. Others, such as cloudsecurity chick Canary, are riffing on the theme while modernising the marketing, making it easy on both the brain and the eye.

With nearly $2m of crowd funds in its beak, Canary is set to send its webconnected watchmen out into the wild at last this July. Working much like multiroom audio systems such as Sonos, and resembling a Mac Pro reborn as a router, its self-contained security hubs are sold

Amidst the coffee machines that brew your Americano the second you get up and internet radio speakers blasting bespoke playlists in every room, SmartThings is still a serious security player, throwing a dizzying array of options at your app.

If you can name it, you can probably automate or track it, a small, bespoke slab of white plastic assigned to as many tasks as your wallet can bear. Lights will be programmed, locks will be automated, disturbances will be filmed, your home will be a connected fortress of total security.

Just remember not to lose your phone.

18 brik.co.uk Jacqueline bed design Jean-Marie Massaud.

to find your nearest showroom

Poliform UK Ltd 276-278 Kings Road London SW3 5AW, tel 0207 368 7600

Design Centre Chelsea Harbour SW10 OXE, tel 0207 352 0064

Contact us for our free design service www.poliformuk.com

INSPIRATION

Art and Your home Words: Justin Quirk Editor House Magazine

For some time, wider press coverage of contemporary art was generally limited to mocking articles about galleries wasting public cash on piles of old bricks (specifically, the Tate’s purchase of Carl Andre’s Equivalent VIII).

The statistics are hard to argue with: last year’s figures from Artprice saw sales of contemporary art rise by 15%, to a record high of £1.047bn. Artprice’s president Thierry Ehrmann described the contemporary art market as ‘a mirror to our times… more accessible, less elitist than modern art.’

Art is an important addition to your new home. I recently interviewed Maria Brito, the New York based curator and art buyer, who manages the art collections of various high-worth individuals, including Puff Daddy. She realised the value art could bring to a property when selling her own apartment during the slump of 2008: ‘The broker came to the apartment, said it would sell very quickly because of the art.

So, what should you get? Posters and prints can be kept as long as you invest in proper bespoke framing by a specialist (John Jones is still one of the most renowned in London), and it’s probably best to get rid of any relics of your student days (canvas prints of Scarface, etc). Think about how the piece will work in a whole collection and try to give it some consistency (ie, the Soho House collection is all black and white).

A curation service like at60inches.com – named for the optimum height the centre of a picture should sit from the floor – will supply you with a dummy print of the work that you can use to work out where it sits best in your home before committing to a purchase of the original. Alternatively, you can use Google’s 3-D modeling program, Sketch-Up, as a rough way of visualising how work will look within a certain physical space.

As for the actual purchasing of art, events like The New Artist Fair, Moniker and The Other Art Fair offer you a chance to buy directly from artists and galleries themselves, while galleries like Lazarides and KK Outlet have a frequently changing sell-through exhibition program. For affordable photographic prints, The Photographers’ Gallery and Daniel Blau are both recommended. For pricier work by more established names, the Frieze Art Fair still dominates.

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But post-Britart, an entire generation of artists became genuine celebrities and their work was easily identifiable by non-specialists; the subsequent boom in ‘street art’ pushed these trends further, with artists developing signature styles as recognisable as any brand logo, entrylevel price points coming down and work suddenly easier to decode by a casual buyer.

She was right, we sold it within the month, while other apartments languished in the market.’ Brito describes art as ‘the only investment that will outlive your house.’

INTERIOR & DESIGN

OUTDOOR INDOOR Words: Nick Wood Architect / Founder How About Studio krop.com/nickwood

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Purchasing a property often means inheriting the living habits of the previous occupants.

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Of course it’s possible to create your home by moving bathrooms and switching uses of various spaces, but sometimes bigger moves are required to ensure that everything fits. Similarly, as a new family grows there is often a need to reorganize your home and find new space when you can’t find the budget to completely relocate. Extending the footprint of the property to the rear can offer the extra space required to reorganize the relationship between existing living spaces, or simply provide the extended kitchen diner you were hoping for. A generously proportioned kitchen where food can be both lovingly prepared and enjoyed has taken precedent in recent

decades, with the dining room often being reserved for special occasions.

The costs for this type of work relates to the type of space you are creating and the quality of finish, but the most basic enclosure will start at around £1400/m2, and extend to £3000/m2. Like most building work to your home, there are opportunities to consider alongside the additional floor area. This work can open up your existing property’s relationship to its garden and create new views through, and back into your property.

There are many decisions to make with regard to size and location of openings, and how much any new additions to the property will relate to the existing building in style and construction.

And if you’re lucky enough to live in a conservation area, you will find these decisions are slightly more complicated as there will be a preference towards appropriate material and detailing. There is some flexibility to these rules

when working at the rear of the property and it would be wise to approach an architect to get the most from the work and to guide you through the process.

You can find out if you live in a conservation area from your local council, and even if you do not, an architect will also be able to advise you about the finer details of “permitted development”. This system allows development to a percentage footprint of your existing property, within specified height restrictions. Once that’s confirmed you can return to the fun part and design your new space. When designing the new addition its worth noting the significant improvements in building technology that have reduced the visibility of structure in glazing, which means you won’t end up with the kind of conservatory you see at garden centre cafes. Increased use of such systems means there are now pieces designed specifically for the budget requirements of the domestic market. Improved shading and ventilation systems also mean that a glass box does not generate the effects

INTERIOR & DESIGN

of a greenhouse. Under similar improvements, it is now possible to find sliding door systems that maximise the level of glazing.

This is achieved through either larger single panels, or through reduced frame depths – both of which achieve the effect of being able to open your living areas up to your garden. Alongside other delicate changes to your garden’s landscaping to achieve

“ ...which means you won’t end up with the kind of conservatory you see at garden centre cafes.” level access, these changes blur the threshold between inside and outside, allowing enjoyment of views in the winter and opening up to act as one big family space when the summer arrives.

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Connect home and garden directly by opening up the back-wall and welcome the outside in.

MORTGAGE MARKET

Known Knowns Words: Alistair Hargreaves Mortgage Consultant

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You may have been aware via the media of the Mortgage Market Review (MMR) that has been implemented on 26th April this year. So far it looks like it’s been a seismic shift in how residential mortgages are underwritten, and will have impacts on both the amount of money that can be lent (especially to those of you with children, school fees or unsecured debts) and the time it will take to get offers out.

Applications will take longer to process.

There have been many column inches and much airtime dedicated to this subject, but unfortunately much of it appears to be contradictory, confusing or just plain scaremongering. To give you some context, the review was effectively a post mortem into the collapse of the mortgage industry post credit crunch. The review was then followed by a number of recommendations to help stop the market falling apart once again; many of these recommendations have been taken up, and at present these are being implicated by the lenders. The main driving force of the review is to make sure that clients can afford their mortgage now and in the future, so affordability and forward stress testing is a large part of the reforms. However, no one really knows what the overall impact of MMR will be, hence the concern in the media.

Looking at the amount of contradictory information available, I felt the only appropriate way to comment on MMR was to take a leaf out of Donald Rumsfeld’s book (not a phrase I thought I’d be saying...) and use his infamous Known Knowns speech from 2002, when briefing the press about the invasion of Iraq.

Known Knowns Well, we definitely know that lenders will take longer to process applications. Nationwide have suggested it might take a client two weeks to see a branch based adviser, due to the new restrictions on their time and Woolwich are currently taking 15 working days to answer queries and assess applications.

We also know that criteria is being tightened up across the board, on both buy-to-let and residential applications.

Some lenders will decline first time buyers.

BM Solutions, who are a specialist buy to let lender, are no longer accepting applications from first time buyers even when they are buying with a property owner. On the residential side, NatWest are no longer accepting guarantor applications.

Applicants will have to pass tougher criteria.

More questions will be asked by the lenders, and more evidence will be required, especially around bank statements and spending habits. Therefore expect to be quizzed closely on your budget planner and your discretionary spending.

Execution only mortgage

MORTGAGE MARKET

applications will be phased out – the FCA has made it clear that advice is the way forward, and independent advice at that.

More applications will be declined.

Known Unknowns We can expect that there will be a greater number of declines (indeed the Bank of England suggested this last week), although we do not know how many or for what reasons.

It might be that lenders are so concerned about the new regulations that they decide that it is safer to declined marginal case as opposed to approve it.

There is also a suggestion that rates will increase, to cover the costs of the extra work, but again we do not know by how much or when.

Further paperwork will be required.

More cases will be sent back to brokers if they are not fully packaged, eg, they contain everything that is needed in one pack. So if a client wants to make an application, everything needs to be in that envelope, if not it will

Lenders will cut back on less attractive applications.

Unknown Unknowns We just do not know the overall impact of the MMR as of yet, in terms of amount of business lenders are happy to accept, down to what extra information they will need. If I am being cynical, I would say that lenders would cut back enormously as they struggle to get to grips with the changes; and the fact that it is easier to decline and move on, as opposed to agree and then be picked up by the FCA. However, the longer this goes on and the less business that is being written the more relaxed the lenders may then become.

Unknown impact of the housing market.

The other major Unknown Unknown is the impact on the housing market. If finance is suddenly more restrictive, and offers are taking longer to get out then you would expect things

to slow down (apart from the cash buyers). This could have an overall positive affect, especially in London and the South East, with the cooling of price rises. Of course, the opposite could be true and that those who need smaller mortgages, or no borrowing at all, consolidate their hold on the prime locations and everyone else is pushed further out of London.

The upshot of all of the above is you will need your independent mortgage broker more than ever. They have the expertise in cutting through the MMR red tape, and they are able to look at alternatives if the first, second or third lenders say no. At John Charcol we have 40 years experience in dealing with the many changes on the mortgage and hosing markets, and although MMR is a challenge, it’s one we can meet head on and help our clients through to buying and remortgaging.

Ultimately, Donald Rumsfeld was trying to explain the lack of WMDs found in Iraq; our Unknown Unknowns are not quite as life or death, but they still represent a leap into the unknown for all of us. And it’s best to make that leap with an experienced guide, because going it alone could be very scary.

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Rates will go up.

be sent back and everything is delayed. However, as of yet, we are not sure what extra items will be requested by lenders – I can guess that there will be a greater emphasis on bank statements, credit card statements, savings and general outgoings, but until lenders switch across we will cannot be certain.

KNOW MORE

BUYING THE FREEHOLD So you’ve bought a flat!

Congratulations. In the majority of cases, this will be the right to occupy the flat for a fixed number of years.

Words: David Goldstone Capital Leasehold

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New flats are generally sold with 99 or 125 years remaining; however, the next problem to overcome is where you have a separate freeholder who is sending you service charge demands - in most cases for many thousands of pounds - in return for carrying out very little in terms of repairs and maintenance of the building, thereby potentially placing a limit upon the value of your flat or even collapsing a sale if you wish to sell it in the future. You have the right as a leaseholder (in the majority of cases) to extend your lease by an extra 90 years at a fair market price (and to convert your annual ground rent to zero) under The Leasehold Reform, Housing and Urban Development Act 1993, this solves the lease length problem.

However this does not solve the problem of a building being

neglected, so this piece of legislation also provides the right for a number of leaseholders to join together and force the freeholder to sell them the freehold of the building. This gives the participating leaseholders not only the ownership of the site and the building through the formation of a freehold limited company, but it also gives them the control and freedom to carry out repairs and maintenance when they wish, through contractors of their own choice.

A further bonus relating to the money invested by the participating leaseholders in buying the freehold is the potential return in future years from the non-participating flats exercising their right to extend their leases by an extra ninetyyears. As mentioned above, any income from extending leases in the building will be payable to the internal freehold limited company, which is owned by the participating flats that bought the freehold of the building.

Additional sources of revenue for the freehold company may be areas that are not demised in the current leases, such as a top floor Leaseholder wishing to buy the empty loft space above their flat.

If you are already an owner of a share of the freehold company, you may still encounter problems selling your flat in the future, even if you are selling it with a share of the freehold. If your lease has less than 70 years remaining, any potential purchaser requiring a mortgage to buy your flat may be rejected by a mainstream lender, therefore it is imperative when you join together to buy the freehold, that you also instruct your solicitor to extend all the participating leases up to 999 years remaining for one pound.

This is cheaper to do through solicitors at the same time as the purchase of the freehold, as all the required legal paperwork is together in one place (you are advised to take tax advice prior to doing this regarding potential gains by HMRC).

KNOW MORE

£

FREE HOLDER £

SERVICE CHARGES LEASE EXTENSIONS

Freehold limited company

FROM FREEHOLD TO SHARE OF FREEHOLD

99

Buying the freehold can vary in cost and can require some lengthy paperwork but is well worth it.

yr.

LEASEHOLDER FLAT A

80

SHARE OF FREEHOLD

!

999

yr.

FLAT A

999

yr.

£

£ yr.

FLAT B

LEASEHOLDER FLAT B

25

Furthermore, by extending the leases up to 999 years remaining, you make your flat attractive to the whole of the open market (not just cash buyers) when the time comes to sell and you do not need to worry about the lease running low. Although you own a share of the freehold, the lease has to stay in place for legal reasons such as enforcing covenants in the leases in the building such as rights of support, rights of access,

rights of drainage amongst many others. You will also avoid having to deal with the issue of the lease extension dropping below 80-years remaining whereby the same lease extension costs substantially more due to having to pay half the marriage value to the freeholder.

If you proceed with buying the freehold of your building, you must be prepared for a large amount of administration and complex decisions, therefore you may wish to instruct a professional managing agent to deal with the day-to-day management and they will take your instructions. You will also require the services

of an accountant to carry out the regulatory requirements of preparing annual accounts and the paperwork required by Companies House and HMRC amongst others.

Finally, if you do not wish to own a share of the freehold, you can always exercise your rights to a ninety-year lease extension of your flat without having to speak to anybody else in your building.

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“ By extending the lease up to 999 years remaining, you make your flat attractive to the whole of the open market”

INTERIOR & DESIGN

PRETTY LITTLE THINGS

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Diamond Light £30 | erictherner.com Pyrom Puzzle £260 | objectsofuse.com Box Kit Desk Organiser £180 | hardgraft.com V+A Amalfi Bath tbc | sanctuary-bathrooms.co.uk Bouji Chair £169 | made.com

INTERIOR & DESIGN

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Sennheiser Momentum Head Phones £260 | store.apple.co.uk Uniform Wares 203 Series Watch £280 | dezeen.com Amorphous Nesting Table Set £498 | anthropologie.eu Boskke Sky Planter £30 | boskke.com Bosworth Rosewood Sunglasses £120 | findlayandco.com

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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

BUYER’S GUIDe

GUIDE TO BUYING

It doesn’t matter whether you’re a first time buyer, looking to make an upgrade for a growing family, thinking about getting a Buy To Let property, or a seasoned pro, you wouldn’t be human if you didn’t have a couple of questions. So here, we’ll attempt to answer a few of the biggest head scratchers.

First Time Buyer: How long will it take me to buy my first property?

Ah good, a nice nebulous question to start!

The honest truth is that there is no golden number when it comes to home buying timescales, but there are plenty of ball park figures that can inform you on the best and worst case scenarios.

“How much work are you willing to do to a property upon moving in? How quickly are you in need of moving? – do you need to move now or can you bide your time?”

Asking yourself these questions will give you a much better idea of what you’re facing, while also providing an indicator of

For the average buyer, finding a home will take between 3 – 8 months, which might seem like a long time, but when you do finally find your property, things will speed up quite dramatically because you’ll have to move fast.

Assuming you make an offer and it’s accepted (this could happen in minutes!), you will then have to secure your mortgage.

This should take no longer than four weeks, and to ensure it’s a quick as possible, you should make sure you have certain things in place. Get a mortgage advisor and solicitor before you start looking for a house in earnest - it’s good practice, and a great psychological box to tick that reminds you that this is really happening.

Work out the maximum amount of money you can afford to pay on your mortgage every month, then obtain an agreement in principal from your lender. This means that in theory your bank or other mortgage provider is there to provide the money when you come to the crunch. Total time to get a mortgage? Four to five weeks.

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At the moment, if you’re looking for a property in London, it’s very likely that you will have to make some compromises when it comes to finding your first home.

There are an estimated 8-10 people looking for every home in the capital, so if you’re searching for the perfect dream property, you may be on the hunt for some time. You have to think about where you want to live, and if it’s a specific area, how determined are you to stay there?

how long you’ll be on the prowl. You might find yourself in that stopgap property in as little as a month, or you may still be searching this time next year.

BUYER’S GUIDe

Then you have to exchange contracts, which, provided everything is in order on both sides of the contract, should take another 4-5 weeks. This is because both parties solicitors will be called in to carry the deal through to completion. Delays can often occur at this point as the solicitors go through the deal in minute detail. Because solicitors will often speak directly to each other during this stage, you may feel like everything has gone quiet, but don’t panic, it’s ticking along fine and you’ll be alerted in due course when everything is ready. At this point, you’ll be asked to pay your deposit, so that needs to be ready to go to further speed things up and ensure a smooth exchange.

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Finally, you’ve nearly completed the sale, and if you’re lucky, this will happen very quickly, but it’s advisable to keep cool and patient anyway. You don’t know when the current occupiers are moving out, you have to pack, book removal men, find a window at work to take a few days off, but then, eventually, you will have done it.

Second Time Buyers: When will I be ready to upsize?

Another question which has a great deal of variables, and another decision which shouldn’t be made until you’ve sat down with a pen, paper and a calculator to do some sums and ask yourself some serious questions.

Why are you looking to move? The most likely answer is that you’re about to find your family has grown, either with your first child, or perhaps a second, and there simply isn’t enough space left for you to begin raising a family. If this is the case, your budget will be the first order of the day.

It’s no secret that children are expensive, so whether it’s your first, second or even third

child, you need to factor in these additional outgoings when finalising your budget before approaching banks and mortgage lenders.

If you’re looking to change location, or you’re simply looking to move into a bigger property thanks to a promotion or new job, perhaps, you can be ever so slightly more relaxed. But even so, finding a place on the second step of the ladder can be just as frustrating as the first.

“ Finding a place on the second step of the ladder can be just as frustrating as the first.”

So assuming you know why you’re moving, it’s time to start from scratch, like a first time buyer, and work out the why, where and how much of your prospective new home. This in turn will help you decide on your budget. Hopefully in your time at your current property you’ll have made enough improvements that upon valuation you find that the value of your property has increased – if it hasn’t, what have you been doing?

In London the rising house prices – a survey from Nationwide building society in April this year said the average price of a London home had increased by 18% over the year and by 5.3% in the past three months alone – means that you’ll likely get a decent return on your previous investment.

Now let’s assume at this point that you haven’t paid off your mortgage, so like the cat, it will be coming with you to your new home. Most mortgages these days will be considered ‘portable’ – a survey from MoneySupermarket.com in 2012, found that of the 2,599 mortgage products available on the market, only 199 did not allow you

Life on the property ladder is a linear path, but not a straight forward one.

There are plenty of pits and traps to fall in, but playing it right, may very well mean a financial careless pension.

You are earning 125% of the mortgage repayments

You find a property to buy-to-let

You decide to buy a property to rent out

You have to pay university fees!

Your children move out

Property prices rise again + 30%

Prices rise a further 8%

You sell your rental investments for a large profit

You sell your large family house for a large profit

You retire a very wealthy family indeed

Your offer is accepted You have another child You need to move to a larger house

You hav ea chil d

ed r ot ge om lar pr a e et ge ar g a u n rtg Yo u ca mo yo

You decide to buy another property to rent out

Bad luck - property prices crash - 25%

Mortgage rates drop you re-mortgage

B Yo rok ur en th sa Ch ro le a ug fa in! h lls !

You put your house on the market

You think of selling to move

Your first child needs to move into a better school

Your offer is rejected

You accomplish a good sale price

You have to move your mortgage to your new house

You can’t get a mortgage based on your salary multiple, go back to work

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ty er op t pr -le d a -to fin y u bu Yo to

Rental market strengthens

You increase your offer es ic pr % ty 25 er + op om Pr bo

n ve i mo You

St ru c is tur po al si su tiv rv e ey

You are a graduate

You find a job

You get a credit card

You become a tenant

You inherit ÂŁ30k!

You bank it for a future deposit

You get a pay rise!

You are looking to buy

ea hav ore!

You dit sc et a dg cre bad ack an ard c b Go redit c

You s mo ecure in p rtgag a rinc e iple

LIFE on the property ladder

You make an offer

Find new buyer

31

BUYER’S GUIDe

to move your mortgage - which obviously make them sound lovely and convenient.

Despite this, your mortgage lender will reassess you as if you were a first time buyer all over again, which can be frustrating, but makes sense when you acknowledge that the lender is simply checking that your financial status has not changed radically. Your mortgage is more than likely to increase with the size of your property, so the lender will pour over your outgoings to make sure you have enough in the kitty to pay the bills.

It’s also worth remembering that if you do get a top-up loan in order to buy your next property, your interest and fees will be in line with current rates, even if your original mortgage was signed some years ago.

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It’s unlikely, but if your original mortgage provider does decide not to offer you a mortgage on your new property, it isn’t the end. Contact your mortgage provider, or go and meet one if you haven’t already and ask them to contact a specialist lender. But be prepared to pay a premium.

Landlords: I want to buy a second property as Buy To Let, where do I start?

So you’re in the lucky position of having enough cash free to invest in a Buy to Let property, the first thing is to realise that it’s not simply a case of buying another property and putting it up to let. Think about why you’re renting, and if it’s the right thing for you. If the goal is to make some more money, for example, then thisismoney.co.uk says that in recent years a high-rate saving account would offer a better return than the majority of properties. However, many would argue that there is no better, or more secure, investment for your money than bricks and mortar.

If you decide to follow the latter route, then you need to think about where you want to buy this new property. If you’re London based, it does make sense to buy the property in the capital if you can, but that still doesn’t mean it’s the best investment, especially if your budget won’t stretch to a London property. In Wales, for example, landlords are achieving a 6.7 per cent yield (rent measured as a percentage of property price) on their properties, according thisismoney.co.uk.

Whether you choose to buy in London or not, make sure you choose a promising area. This doesn’t just mean the most expensive, or the cheapest, but rather somewhere that people will want to live, and will continue to be desirable for many years to come.

Once you’ve done this, you need to sit down and do the maths to work out exactly what you can afford. The majority of Buy to Let lenders typically want the rental income to cover 125% of the mortgage repayments, so you need to think about who you’re going to rent to in order to make mortgage payments and a profit, or if you’re going to use 100% of rental income to pay off the mortgage quicker. To work out your annual return on investment, you need to subtract your annual mortgage cost from your yearly rent and then work this out as percentage of your original deposit. There’s a lot to take into account.

These were just three questions of an infinite number that will be buzzing around your head, whatever your reasons or stage of buying. If you have something you’d like answered, contact us on twitter at @ BrikLondon.

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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

Open Door Policy

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We’ve all heard the rules about what to do and what not to when you’re preparing your house for market and that strange period when you must invite strangers into your (soon to be ex) home to judge it: Put the oven on low and bake some bread (here’s a secret, heating up some supermarket pastries will give you the same effect with half the fuss), put on some coffee, clean away the kids toys and take the dog for a walk.

All of these are completely valid and might be that defining factor that turns your house, into “my house” in the eyes of a buyer.

viewings can generate a huge amount of increased interest, often leading to multiple offers, sometimes over the asking price.

But what if that doesn’t work?

What if you perform all the magic tricks but you still fail to find a buyer? Well you could look across the pond to our American cousins and their rather nifty open house viewing system. This is as simple as it sounds: you work with your estate agent and book out a period of time at your home, two to three hours should be enough.

Your agent arranges for potential buyers to visit during this period and then extra staff are laid on to answer buyer’s questions. You could even provide some very light refreshments, all with the express goal of creating a feeding frenzy amongst potential buyers.

For the right house, in the right location, there are an estimated 8 to 10 buyers per property in London. This means you could, potentially, find yourself with a queue of people (and we don’t mean metaphorically) outside your door. Without stating the obvious, this puts you in a very strong position, but it does mean you might have to make some difficult decisions when the offers do start rolling in (and they will).

It doesn’t sound particularly nice, and for some people it definitely won’t be the right way to conduct your business, but the reality is that you’re trying to sell your home, not find a new best friend, so why not make the incredibly competitive market you’re working in, work for you.

Open houses generate real buzz, especially if you’re living in a prestige property. You may well get a couple of curious snoopers, but hopefully your agent will thoroughly vet everyone to winkle out the timewasters. Open house

If you are lucky, and your own plans for moving are going well or are not under strict time constraints, you may have the luxury of choosing who you want to sell to. Do you want a family to move in? Do you want to keep the property from being rented out?

Small points and these should definitely not be deciding factors when it finally comes to decision time, but it’s definitely worth thinking about if you choose to hold an open house.

Conversely, Open House viewings are very useful if you’re looking for a quick sale, as they do create competition, and you will likely get several offers at asking price.

Just don’t skimp on the coffee or croissants.

Sophisticated simplicity

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+SEGMENTO

LANDLORD GUIDe

06 Keep it tidy. This might sound like you’re being

A DOZEN UNBREAKABLES Quick fixes, handy hints and unbreakable rules: here are some top tips for new landlords or those thinking about investing in buy to let; minus all the boring stuff like taxes, licenses, tenancy deposit schemes, surveys and all the paperwork…

told to suck eggs, but a healthy property is a happy property. Carry out regular maintenance and fix any problems quickly. You’re not there all the time, and you don’t want things to get worse.

07 Family affairs. Renting to a small family, if your property is big enough, is a great situation to be in, especially if they’re renting while looking for a property to buy. It means they’re financially secure, and in nesting mode, so they’ll look after the place.

08 Make a home. If your property feels unpleasant, you’re less likely to keep tenants on. Some people are happy renting, and if they feel at home, you’ll keep them, which in turn will save you a lot of hassle.

01 It’s our old friend supply and demand. As a landlord, you’re on the supply side, and you are greatly outnumbered by those in the demand camp. If you have a property, you will rent it out.

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02 Be the boss. Even if your property is a secondary

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part of your income, you should treat it as a job.

It’s a serious business with responsibilities and consequences.

03 Be available. If your tenant calls, pick up the phone unless it’s impossible. They’re paying you a great deal of money, and if they’re not feeling the love, they’ll move on.

04 Think about who you want to rent your property to. Look at your property and decide whether it’s suitable for a family, young professionals or students, then decorate it accordingly. A family, for example, will likely bring their own furniture and want plain walls.

09 If you can, invest. Just because you don’t live in a property, it doesn’t mean you can’t improve it - create an extra room in a loft conversion for instance, or simply do up the garden. There are numerous things you can do to improve your property and increase your rent.

10 Do your research. Buying a swathe of bargain properties in an area that’s set become the place to be for affluent young 20-somethings sounds amazing, but if you get it wrong, you’ve got a lot of undesirable and expensive property on your hands. Try waiting, watching, and paying slightly more when you’re positive things are heading in the right direction.

11 Being a landlord can be lucrative, but be sensible. Know your budgets, what you need to make in profit and keep a pool of money to one side for major maintenance or any fallow periods in the rental market.

05 Something old or something new? If you’re buying a property to let, think about the age, because an old property may require more management than a new build.

12 Paint it white, keep it simple. Furnished or unfurnished, less is definitely more. Whether your market is graduates or families, most will want to see that they can make their own mark on the property.

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INTERIOR & DESIGN

Side Tables

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Nest of Tables

The Stow Bin

Marble top

£525 (pair) | mufti.co.uk

£248 | anthropologie.eu

£430 | theoldcinema.co.uk

These antique gilt coloured tables come as a pair. The top is fixed mirror and the legs iron sprayed for an antique gold finish. Perfect for a more traditional space or a classic feature in a décor space.

These tables come as a set of two. They are made from mango wood and iron. Perfect as a side table but can be used for storage as well. The smaller is a 45.7cm square & larger is 53.3cm.

This side table could be used inside or out. It’s made of iron with a patterned marble top which makes it durable but still attractive. Height 62cm Diameter 65cm

Flash Tables

The Twisted

Ava Nest of Tables

£285 - £585 | tomdixon.com

£1800 | johnnyegg.com

£969 | julianchichester.com

A coffee or side table with a highly reflective surface. Flash, Rectangle or Circle has a mirrored bronze top and a brass plated steel base resulting in an uncompromising metallic surface.

A really original table from Johnny Egg. It comes in various colours of glass or satin paint finish but the surprise is in the drawers. Each is lined with his trade mark pink flocking.

A lovely set of two circular nesting tables with a warm aged gold quatrefoil frame and clear glass insert. Perfect in any décor designed space as a subtle antique feature.

Portable Side Table

Shuffle Table

Edo Table

£95 | frenchconnection.com

£449 | occa-home.co.uk

£1295 | stuartscott.co.uk

With a unique metal handle built into the top, this is a very portable table that could easily be moved between rooms and looks that bit different. Its made from dark wood with three metal legs.

Inspired by classic shapes, the Traditional Shuffle Table is an unusual multicoloured wooden table adding an injection of colour and playful subtlety to a entertainment or playroom.

In high gloss red lacquer and brushed Oak, black ebonised and natural oiled. This design can be ordered in various lacquer colours and timbers. Hand Stamped and individually numbered.

Adelta Screw Table

The Octogan

Swirl Table

2350 euro | finnishdesignshop.com

£335 | okadirect.com

£1120 | tomschneider.com

The idea of having an oversized screw as a table seems natural for a versatile man like Eero Aarnio working on industrial design, furniture and architecture.

This unusual table has an antiqued brass frame and inset glass top. The gilt colouring is very much on trend this year but is also a real timeless classic.

Smaller version also available.

The aesthetic rolling curves of the Swirl collection shows off the natural beauty of the wood to perfection. A striking statement while providing chic practical furniture.

Compiled by Magenta Pink Interiors, magentapink.co.uk

INTERIOR & DESIGN

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Parthenia Road An outstanding and fully extended Victorian family home located in one of the very best areas of Parsons Green.

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Arranged over four floors this large five bedroom period home, offers superb reception and entertaining space in the heart of Parsons Green.

The basement level comprises a reception room with a very useful and additional kitchen/utility facility.

There’s also a good sized bedroom

with en suite shower room on this level. Laterally occupying the entire ground floor is an impressive and spacious double reception room that flows across into a fully extended modern kitchen and a south west facing rear garden, accessed through bi-folding doors from the kitchen.

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5

2,691

ÂŁ3,250,000

BEDS

sq ft

for sale

44 brik.co.uk

KINGS ROAD

This Victorian building is in superb condition throughout with bright, spacious and flexible accommodation over five floors, extending to almost 2,850 sq ft (264 sq m). There is currently an art gallery occupying the large

A1 commercial space on the ground and lower ground floor, the upper floors consist of two separate flats with a shared ground floor entrance from the Kings Road.

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3

2,842

ÂŁ2,495,000

BEDS

sq ft

for sale

ST. DIONIS Road

46

A charming and fully modernised Victorian family house in Parsons Green.

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An opportunity to purchase a truly outstanding and fully extended Victorian family home, which has been renovated to the highest specification throughout, in the very heart of Parsons Green. The newly renovated basement has been converted into an impressive media

room fitted with a large screen TV and a surround sound cinema system. The ground floor makes the most of the available space with a stunning double reception room leading to a bespoke, designer kitchen with bi-folding doors leading out to a secluded landscaped garden.

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4

1,787

ÂŁ2,200,000

BEDS

sq ft

for sale

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Lysia Street

A stylish five bedroom Victorian family home located in the highly desirable Bishops Park. On the ground floor there’s an impressive double reception room, a W.C., and a spacious and bright kitchen and dining

area with bi-folding doors leading out on to a very large 60ft (18m) rear garden. On the first floor there are three good size bedrooms (one with an en-suite shower room) and a spacious family bathroom.

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5

1,829

ÂŁ1,795,000

BEDS

sq ft

for sale

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Ewald Road A stylish period Victorian family home with four bedrooms and a large south facing garden on a quiet residential road in Parsons Green. The house has plenty of entertaining space with a spacious double reception room and sideextended kitchen on the ground floor, leading out on to a large landscaped rear garden with built-in seating. Located on the floors above is the master bedroom, three further bedrooms and two bathrooms, including a loft extension and a second floor extension.

4

1,518

ÂŁ1,650,000

BEDS

sq ft

for sale

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Napier House, Hurlingham Road A unique, four bedroom Victorian family house in a superb location, positioned on a corner plot which gives it the benefit of a wider than average frontage, and consequently a 37’11 x 14’2 ft paved private garden. There are four bedrooms, an impressive first floor reception room with double doors leading to a study, extended kitchen breakfast room and two bathrooms.

4

1,916

£2,395,000

BEDS

sq ft

for sale

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Rosaline Road A delightful, extended Victorian freehold family home, offering nearly 1,400 sq ft of living space including a master bedroom with en suite, two further double bedrooms, large family bathroom and superb south facing roof terrace. The ground floor has been extended to maximise the space available creating a large double reception room, extended kitchen and dining area, cellar and private rear garden.

3

1,394

ÂŁ1,250,000

BEDS

sq ft

for sale

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Kenyon Street An immaculately presented three bedroom first and second floor split level flat, located in the very popular Bishops Park area. On the first floor there is a spacious and bright reception room, two bedrooms and a family bathroom as well as a modern kitchen breakfast room. The master bedroom is on the top floor with an en-suite shower room and plenty of built in storage. There’s also potential to extend the top floor even further with a pod room subject to usual planning consents.

3

1,055

ÂŁ999,950

BEDS

sq ft

for sale

56 brik.co.uk

Peterborough Mansions This two double bedroom flat is located only a stone’s throw from Parsons Green and Eel Brook common, and only 500 metres from Parsons Green underground station. The flat is situated on the first floor of a popular Victorian Mansion block with direct views over Eel Brook Common itself and includes two double bedrooms, reception room, large kitchen breakfast room and a bathroom.

2

829

ÂŁ699,950

BEDS

sq ft

for sale

57 brik.co.uk

New Kings Road A stylish and bright one bedroom flat located on the top floor of a Victorian terrace house. The layout has been planned to maximise available living space and light, whilst being practical and offering plenty of storage space throughout. There’s a good sized reception room with enough space for a dining area, a modern kitchen and a double bedroom located to the front of the property, with views over Eel Brook Common.

1

527

ÂŁ595,000

BED

sq ft

for sale

58

brik.co.uk

Gowan Avenue

A stunning five double bedroom, four bathroom house, offering beautifully designed living space.

59 brik.co.uk

60 brik.co.uk

This outstanding Victorian family home has been fully extended and finished to the highest specification throughout and would make an ideal rental for a family. Arranged over four floors, the bedrooms and living space have been well implemented and balanced to maximise the space

within this period property. The basement level has a family room, separate shower room, utility room and a gym. The ground floor has a reception room, separate cloak room and an extended and bespoke kitchen/breakfast room with a private rear garden.

61 brik.co.uk

5

2,982

£1,800 pw

BEDS

sq ft

TO LET

62 brik.co.uk

Waldemar Avenue

A spacious four bedroom family home in the heart of Fulham. The kitchen is light and airy and has double doors leading out onto a lovely, well-kept patio garden. Also located on the ground floor is a double

reception room with dining area. Upstairs comprises of a large double master bedroom complete with en-suite, a second double bedroom with good storage and a study.

63 brik.co.uk

4

1,733

£1,295 pw

BEDS

sq ft

TO LET

64 brik.co.uk

Lambrook Terrace A beautiful two double bedroom duplex flat situated in the heart of Munster Village. The flat is in immaculate condition with fantastic ceiling height throughout. The first floor offers a large eat in kitchen, double bedroom, separate bathroom and lovely living room which lets in plenty of natural light.

The second floor has a large double bedroom with ensuite shower room.

2

1,098

ÂŁ575 pw

BEDS

sq ft

TO LET

65 brik.co.uk

Fulham Park Gardens A beautiful one double bedroom period conversion flat situated in close proximity to a range of local amenities with good transport links. The flat offers a large open plan kitchen / dining area as well as a large double bedroom. The property also has plenty of storage, wooden floors throughout and access to an amazing shared garden.

1

592

ÂŁ390 pw

BED

sq ft

TO LET

66 brik.co.uk

Vera Road A beautifully maintained one bedroom apartment on the first floor of a large Victorian conversion in the very popular Munster Village. The flat has a spacious open plan reception room and kitchen with three large full height windows that flood light into the property. These open out on to a full width first floor balcony. There’s also a large seperate bedroom with ample storage space and the independent shops and cafes of Fulham Road are an easy walk away.

1

506

ÂŁ375 pw

BED

sq ft

TO LET

GET IN TOUCH Contact

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

11 Colville Mews Notting Hill, W11 2DA

Opposite the White Horse pub

Near the Design Museum

@briklondon brik.co.uk

WE BELIEVE

MEET BRIK

Mike Horne Co-founder NFOPP qualified

Chris Littlewood Co-founder NFOPP qualified

Ben Littlewood Co-founder NFOPP qualified

Tyrone Olivier Lettings Manager MARLA

Alex Weldon Sales NFOPP qualified

Tegen Montgomerie Front Desk

Call us for a free valuation: 020 7384 6790

James Sims Sales Manager NFOPP qualified

67 brik.co.uk

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.

68

brik.co.uk