This summer, Arlington Residential has successfully agreed prime residential sales totalling over £70 million GBP extending from Marylebone W1 to Hampstead NW3 and beyond.
All bar one, a rental investor purchasing several properties with cash, were buying for owner-occupation. The properties ranged from a large family home in St John’s Wood priced at £11m to a two-bedroom apartment in St John’s Wood NW8 at £1.25m. The ratio of UK and international buyers was 70:30.
Marc Schneiderman, Director at Arlington Residential comments: “Over 90 per cent of the properties we have sold attracted interest from more than one buyer, with around 20% of those sold going to ‘best bids’. Sales on behalf of rental investors accounted for 30%; landlords who had owned their properties for many years and decided that now was a good time to exit the market. Having benefited from significant capital growth on their buy-to-let investments with values having trebled in the last 20 years, in recent times landlords have seen rental returns decrease as interest rates rise”.
With buyers snapping up available quality properties, the team at Arlington is successfully adding to their supply of new housing stock. “Over the last six months, we have been appointed on more than £140 million of new instructions across prime London postcodes. Significantly, approximately half of these are being sold off-market and will only be shown to specific serious buyers”, says Marc Schneiderman.