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Home News Success stories Success story: Off-market properties sold for more than their asking price in Northwest London

Success story: Off-market properties sold for more than their asking price in Northwest London

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This year, our Northwest London branches executed the sale of several off-market properties, all to 100% cash buyers. These buyers were willing to pay an ‘opportunity value’ premium for the properties, as they recognised the advantage of acquiring the assets without external market pressures and the fear of getting gazumped.

For the sellers, our discreet service eliminated the need for open marketing, allowing them to proceed with lucrative deals that exceeded their expectations. Several of these properties were valued at over £1 million, highlighting the expertise of our agents in handling big-ticket transactions.

Belsize Park, NW3

Belsize Park

Earlier this year, our Hampstead branch confirmed the sale of three flats within the same semi-detached, stucco-fronted, Victorian house in the heart of Belsize Village. As a stunning property located in an affluent neighbourhood, these flats were in high demand and led to over 100 viewings, which resulted in us receiving 23 offers. With a price tag of nearly £2.8m, we secured for our client a better than expected sales price.

Here’s what our Associate Director, Chris Cooper, who has been selling properties in the area for over three decades, said when asked about what makes Hampstead such a popular area amongst property buyers, “Hampstead is a beautiful village, mainly consisting of Victorian, Edwardian and Georgian houses. The area is so popular as it is a wealthy district which is still very central to the West End, but it still has a village feel, highlighted by Hampstead Heath, which offers over 800 acres of woodland, lakes, ponds and recreational facilities. The area appeals to all types of buyers. We have young professional singles and couples who appreciate the excellent transport links and families who can make the most of the recreational facilities of the Heath and 32 schools within a one-mile radius.”

Shepherds Hill, N6

Shepherds Hill

Our sales team in Highgate successfully sold three unmodernised flats in Shepherds Hill, which were considered unmortgageable in their current condition. The client sought our expertise to appraise these flats for resale in the property investment market

Remarkably, after just a single viewing, the sale was completed. The client, delighted with the deal, praised our prompt and accurate service. Peter Nicholas, Senior Manager at our Highgate branch, said, “Having worked in the investment field, I understood the product and applied my agency experience to source a unique buyer who was delighted with the chance to buy this off-market opportunity.”

Avenue Road, N6

Building on the success of the previous deal, the same client requested our assistance with the sale of several garages on Avenue Road that no longer suited his portfolio. We swiftly identified a buyer who was eager to acquire these garages for his recently purchased properties within the postcode. The buyer gladly paid an acquisition fee, and the transaction went through smoothly, showcasing our ability to efficiently identify and match buyers and sellers for niche property segments.

Townsend Yard, N6

Townsend Yard

Earlier this year, a buyer in search of a modern freehold property in Highgate Village contacted us. Leveraging our extensive network and strong relationships with developers, we found an ideal off-plan property that met the buyer’s requirements.

This achievement also led to our company winning instructions to sell the remaining six houses in the development scheme, which are still under construction. Peter commented, “Selling off-plan schemes we haven’t been instructed on yet for properties that have not been built is a skill set we have developed over years of dealing with the diverse property needs of buyers and investors.”

Highgate Hill, N19

Highgate Hill

We were approached by a local family to carry out a probate valuation for an unmodernised one-bedroom apartment on Highgate West Hill, initially intended for auction. After consulting with the family and exploring alternative selling strategies, they agreed to a one-off viewing for a potential buyer we identified. The buyer quickly agreed to a price that exceeded the family’s expectations. The deal is currently in progress, with contracts expected to be exchanged in the coming weeks.

Executing successful off-market deals as a leading London estate agent requires a nuanced understanding of both people and properties. Peter adds, “I like to think of myself as a people person who understands property, and when combined, can provide a bespoke service. Listening and being considerate of people’s property requirements is key to successfully negotiating off-market transactions.”

Our success in Hampstead and Highgate underscores the expertise and dedication of our local branches, ensuring that clients receive the best possible outcomes in their property transactions. We have the strength of 21 branches across the UK capital to help you find the right solution to your property needs. If you are a buyer, seller or landlord in London looking for similar successes in the city’s thriving property market, get in touch with us today!


About the Author

Established in 1958, Benham and Reeves is one of London’s oldest, independently owned property lettings and sales agents.  With specialism in residential sales, corporate lettings and property management in prime areas of London, the company operates from 21 prominently located branches and 15 international offices.