Q: How does a small time developer looking to make a decent profit margin afford anything in The Royal Borough of Kensington & Chelsea, the most expensive borough in London?
A: He starts out small, just like the Candy Brothers did when they bought their first studio flat in Earls Court. Since then, Nick and Christian Candy have become world famous with their developments including One Hyde Park, but they had to start somewhere! And they started right here, just around the corner from Your Move Brompton's.
Cornwall Gardens, South Kensington, London
Last year, Your Move Brompton's listed a strange-shaped, lower ground studio flat in a beautiful period building in Cornwall Gardens, South Kensington. A first time developer bought the dilapidated flat for the asking price of £385,000 in November 2011. Many developers had seen the flat, and scratched their heads as to how they could make it work. Many walked away, but this first timer had a vision!
He hired a team and realised a unique and beautiful one bedroom apartment with sliding glass doors, new wood floors, and a spanking new kitchen and bathroom. After bashing down the old existing walls, he even found an extra bit of floor space, that he was able to turn into a handy office nook.
He came back to Your Move Brompton's and the flat was listed in June 2012 for £575,000. Within the first week, the flat has had a cash offer from an Australian buyer of £550,000. With his first successful development under his belt, this developer is now looking for his next project up to £1,000,000.
Q: Could he be the next Candy?
A: We sure hope so, as he is devoted to Your Move Brompton's!
If you would like to discuss the property market in Kensington & Chelsea, please get in touch with YOUR MOVE Bromptons. We are located at 249 Old Brompton Road, London SW5 9HP. Our phone number is 0207 373 2430. Click here to view all properties currently for sale with Your Move Bromptons in central London.
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