Initial Situation
A property developer looking to sell multiple units in Ziggurat House, AL1 with local estate agents he had built in a flagship executive development in central St Albans approached our property agents at Northwood for help after the established operator he’d been using had not been able to sell a single one.
Communication had been poor and he hadn’t felt supported, plus the finance the developer had in place would incur a significant uplift in costs shortly after the build was complete.
Developer’s Challenge
As is the case with many new build projects both timescales and cashflow were very tight. The developer asked Northwood Estate Agents to sell these units in Ziggurat House quickly. There were three in total – two luxury two-bedroom top-floor apartments with a further 1 bedroom top-floor apartment, all with balconies and fantastic views over the City.
Our Estate Agents’ Strategy
Northwood Estate Agents considered the best way to maximise interest in the properties and so:
- booked in professional photographers for crisp,
- hi definition shots,
- and utilised drone shots
- and video walk throughs to heighten their online presence.
The team dedicated significant time to working through our contact database of first-time buyers and investment landlords to solicit interest and line up viewings.
Results
Following multiple viewings and securing offers on all three properties, we focused heavily on assisting the conveyancing process to smooth out any issues, moving to Exchange and Completion on two of them within two months.
The third hit a stumbling block with the buyer and so this particular sale fell through. As market conditions had improved to a degree, we recommended to the developer that we actually go to market at an amount of £20,000 higher than before to secure more revenue in spite of the time pressures.
Our St Albans estate agents applied the same marketing approach as before and in doing so secured 18 viewings with an offer of £7,000 above asking price! We achieved Completion on the sale within 8 weeks.
Not only had the developer achieved a higher level of return on his apartments, but he was delighted at being able to settle the finances he had in place.
Client Satisfaction
After the last completion, the vendor said “I am delighted with the prices and speed of sale agreed, thank you Northwood a great result for me.”
In a need of estate agents on Ziggurat House, AL1 or the rest of St Albans?
If you are thinking of selling your property and need a proactive, motivated local agent to help you, please call us on 01727 734550.
