London City Property News

Housing Market Report

2012-02-01T14:54:00.003Z

The housing market is still a little sluggish with prices across the UK rising by an average of 1% in 2011. However, not surprisingly London saw the strongest growth with an overall rise of 5.5% according to the Nationwide. This is no surprise given the number of international clients who bought in London last year, as they view it as a sound investment opportunity and safe haven for their money.

Lenders continue to tempt First Time Buyers which are crucial in stimulating the rest of the housing market. There are still some great First Time Buyer/Higher Loan To Value deals available at the moment and some also come with free basic valuation, and £250 cash back towards legal fees. Rates have crept up slightly since the start of the year though.

· 95% deals start at 5.75%

· 90% deals start at 4.99%

· 85% deals start at 3.39%

At these levels, many lenders will allow clients to borrow between 4 and 4.5 times their income but they must have an excellent credit score and the mortgage must be affordable on a capital and interest basis both now and also on the lenders Standard Variable Rate.

With rental payments continuing to rise, many clients are keen to get on the housing ladder as soon as possible, especially as their mortgage payments are often considerably lower in comparison. One dark cloud on the horizon is The Government Stamp Duty holiday ends on the 24th March and reverts back to 1% tax payable on property sales over £125,000 up to £250,000. Although some experts have called for this to be extended I think it is highly unlikely, as the government unveiled other measures in November which they will be introducing to help First Time Buyers.

We have had a busy start to the year as many clients look for our help in sourcing the most competitive deal for their lending requirements. At the time of writing the best rates available at 70% LTV are:-

· 2 yr tracker 2.44%

· 2 year Fixed 2.89%

· 3 year Fixed 3.09%

· 5 Year Fixed 3.49%

Should you require any Mortgage or investment advice, please contact Dillon Callum who can pass your details on to our recommended Business Development Manager at Charles Cameron.

source: Charles Cameron Associates

Six & The City

2011-10-24T11:47:00.001+01:00

(Photo: Shaun Roberts, Natasha Hoskins, Lauranda Reid & Dillon Callum)

London Property Magazine have an article about Callum Roberts in the November edition titled 'Six & The City and Shoreditch'

Established by Dillon Callum & Shaun Roberts in 2002, Callum Roberts have established themselves as a leading independent, forward thinking agency and have been interviewed by the BBC, ITN and Channel 4 News, to comment on the London market.

Dillon has been working in Agency for over 20 years, firstly in the London Docklands in the infancy of its redevelopment and then in the City, where he stayed until establishing a partnership with Shaun.

Shaun has also worked in the property field for circa 20 years, where he established himself as one of the best property managers in the City, where he established many procedures that have become industry standard since Shaun's implementation of them.

This combined knowledge and the fact that both are well known within property circles, has enabled us to rise above the norm of what is expected from an independent agency. The service often exceeds that of many established well known brand names.

"We have built a fantastic network of contacts and we know the London market. So if you want to know anything about the London property scene, contact us, because if we can't help you we know somebody who can".

As 'Property Consultants' rather than simply a lettings or sales agency, we have managed to act as buying agents for clients looking for investments outside that of our own portfolio of properties, as well as the more well know duties of selling residential and commercial property or lettings and management agency work.

November and December are historically seen as a quiet time in the housing market in The City, Holborn and Bloomsbury. This is also usually the case seen across London and the country as a whole.

However, at our Holborn office over the last 6 weeks, we have seen an increase in the number of serious enquiries. Enquiries that are difficult to service, due to the lack of properties that are coming onto the market for sale or to let. If you are a looking to sell your property, now is a great time to put your property on the market, as the lack of competition is netting excellent figures.

Back in 2002, the average sale of property through Callum Roberts was £325,000. Today, the average sale through our Holborn office is a little over £1,000,000. This is impressive stuff by anyone's standards.

2012 will be our 10th year and we are expected it to be a year to remember.

London has some exciting things happening in it and we feel that in the City and West End, we are in the Heart of the Country, even more so than any time in living memory.

We hope that we are the number one choice for those who need advice on investments, for property sales or lettings. Our small and friendly team are always on hand to help and we look forward to your call.

(t) 020 7242 9977

(e-mail) info@callumroberts.com

Lettings Property Shortage

2011-08-27T11:40:00.000+01:00

Unusually, August has seen our lettings team rushed off their feet.

With many people away from London on summer holiday, we normally expect August to be our quietest month of the year (after December).

We have been so busy, that we have all but run out of rental properties that are going to be available in September, which is usually our busiest month of the year.

With many students coming to London to study in the highly regarded educational facilities that Central London has to offer (LSE, UCL & Kings College London to name but a few that are within a few minutes walk from our Holborn office!) we are beginning to wonder where the new (and returning) students are going to live.

Students are not the only people who are going to find it difficult to find a new home.

The large City companies are once again taking on new staff - many of which are plucking the 'best of the best' graduates from all over the world, which again, has a knock on effect for housing.

If you are joining a firm as a new CEO or starting off as a trainee post room clerk, you will need somewhere to live.

It seems that the lack of availability of City (postcodes EC1, EC2, EC3 and EC4) properties is pushing demand for properties into the surrounding areas east (E1 towards Docklands E14) and west towards the West End (WC1, WC2).

This can only be good news for Landlords, as void periods (the time in which a property is empty between tenancies) is now at an all time low and rents are creeping upwards once again.

If you have a property to let - now is as good a time as any to make the most of what can be known as a very strange summer!

Bumper Property Sales

2011-05-30T18:15:00.000+01:00

May has been a bumper month for Sales in Bloomsbury as a whole.

We have sold a number of Mews properties that require conversion to make charming houses and a number of smaller studio and one bedroom mansion block flats.

Many of the sales are looking to complete in the summer and we hope that these will help to re-stock the ever decreasing level of lettings stock.

June and July tends to have a a surge in demand for property, before everyone heads off for the much needed summer vacation.

Lets hope that we can have a bumper amount of summer sun also!

Sold - John Street, Bloomsbury London WC1

2011-04-13T12:02:00.000+01:00

Callum Roberts have sold this stunning Grade II listed Freehold house that is situated on one of Bloomsbury's premier streets.

This house has been refurbished to the highest of standards and the property boasts many period features and has a beautiful roof garden and courtyard garden to rear.

John Street is situated within short walking distance to Chancery Lane underground station (Central Line) and a few minutes walk from Farringdon (District Line) and Kings Cross Mainline and underground stations.

The Brunswick Centre is also a few minutes walk away, which features a number of boutique shops, bars and restaurants, as well as the largest Waitrose supermarket in central London and the Renior cinema.

Asking Price: £4,250,000 (subject to contract)

Sold - Gordon Square, Bloomsbury, London WC1

2011-03-25T12:34:00.000Z

Gordon Square is conveniently located within a couple of minutes walk of Euston Square underground station.

This building is situated on a prime location overlooking the sqaure and was developed by Thomas Cubitt in the late 1820's.

Whilst featuring many period features including ornate plaster work and high ceilings, the property would benefit from some modernisation.

The first floor reception room is approximately 35 ft x 22 ft and has a terrace overlooking Gordon Sq and the property is arranged over five floors.

SOLD PRICE: EXCESS OF £2,500,000 (LEASEHOLD)

Property Market in Bloomsbury

2011-02-16T15:46:00.000Z

January 2011 has been a bumper month for both sales and lettings in Bloomsbury.

The problem we have here at Callum Roberts is the lack of available properties in the City and West End of London.

With a ratio of 20 qualified buyers to 1 instruction, we are finding it very difficult and frustrating time to be an Estate Agent.

Thankfully, our lettings and property management side has found that the lack of stock has seen rent renewals increase at a rate not seen for some time. Our tenants seem to be staying on in properties longer as those who would traditionally buy, are unable to find suitable properties themselves.

How long will this go on for?

Answers on a postcard please!

Sold - Marchmont Street,Bloomsbury, London WC1

2011-02-10T18:28:00.000Z

One Bedroom Flat Sold in Marchmont Street, Bloomsbury,London WC1 Lovely apartment that has good sized west facing private garden and is located opposite the Brunswick Centre. Sold £410,000 Leasehold

Sold - Kings Mews, WC1

2010-12-13T10:19:00.000Z

1 & 1a Kings Mews, Bloomsbury, London WC1

Freehold mews property that has planning permission to be converted from commercial to residential use. The building was originally built as a four storey mews, but was damaged during WWII and was never restored to its original level, as it now consists as ground and first floor levels only, with access to a small basement storage room. With imagination, this building could be turned into a stunning residential property (subject to planning permission). Could be suitable for conversion to a single dwelling (subject to planning permission) or two separate units (planning permission granted). Kings Mews is located just off Theobalds Road, WC1 and is within walking distance of Chancery Lane Underground Station and major bus routes into the City, West End and Islington.

Property News

2010-11-15T12:52:00.000Z

Central London Property Prices Remain Strong

News on house prices in the UK has been something of a rollercoaster over the past twelve months. Overall UK house prices rose in the first half of this year, approaching their pre-recession peaks of 2007 in April and May, before declining sharply over the summer. Now it appears that prices rose slightly in October, with some commentators claiming this only the beginning of a trend which will last well into 2011, while others saying it is only a temporary blip and the overall trend is still down.

However, Central London continues to be one place which does not follow the national trends. Particularly in our key areas of Covent Garden, Bloomsbury, Holborn, Clerkenwell and The City, we have not seen a fall in property prices; in fact a slight but steady rise is more what we are seeing. Property prices in several of our areas have remained close to their peak of 2007 over the past year. This is because there continues to be a significant lack of properties for sale in the area. Once again, most owners in the area can afford to wait until buyers are plentiful and property prices are strong. This means that the few properties which do go on the market tend to sell quickly for close to the asking price.

What we have seen is a shift in the typical buyer. We are seeing fewer first time buyers or buyers who need a mortgage. Cash buyers are getting much larger numbers, some from overseas but many from the UK. While there is significant demand for all types of property, these buyers tend to be interested in higher value properties. As an example, we have had a great deal of interest in the spacious Georgian terrace houses for sale on John Street, Doughty Street, and Great James Street in the past few months.

If you are a looking to sell your property, now is a great time to put your property on the market as the lack of other properties for sale means demand, and prices, remains high.

PROPERTIES SOLD IN WC1

2010-11-15T12:10:00.000Z

Contact Callum Roberts Property Consultants for a list of the most recent transactions we have concluded on behalf of clients.

This information should be used for guidance and information purposes only and should further detail be needed, please contact: Dillon Callum.

Callum Roberts Holborn Office

2010-11-05T13:51:00.000Z

Name of Agency: Callum Roberts

Head of Sales: Dillon Callum

Head of Lettings: Shannon Fizer

Company Profile: Independent agency established by Dillon Callum & Shaun Roberts in 2002, both of whom have over 20 years continual experience of the property market in the area. Specialising in residential Sales & Lettings in Bloomsbury, Clerkenwell and the City. The company has well trained, knowledgeable & friendly staff offering a personalised service whether you are looking to buy, rent or sell through us.

Typical Property: Second homes and large period houses

Tips to seller: There is very little on the market, so if you are thinking of putting your property on the market, do it now, do not wait for everyone else before putting yours on.

Tips to Buyer: Do your market research. Ensure your budget can meet your expectations.

Tips to Landlords Landlords should see an increase in yields in the next twelve months, so don’t forget to build in rent increases in longer tenancies.

Tips to Tenants Use an agent. Many private landlords may not be up to date with current legislation.

Market Comment: We do not think we will see any massive sales price increases in 2011, but confidence should increase towards the end of the year.

Address: 40 Theobalds Road, London WC1X 8NW

Telephone: 020 7242 9977

Email: info@callumroberts.com

Web Address: http://www.callumroberts.com/

Callum Roberts Sponsor Porsche Spyder Run

2010-10-14T18:09:00.000+01:00

The guys in Callum Roberts office are huge car fans, as many of our clients will know (they may have spotted a photo of a certain Mr J Clarkson with Shaun & Dillon).

We are also proud to support charities whenever we can and were approached by a friend (Adrain Knights) and member of the Porsche Club GB, who was undertaking a charity run from John O Groutes to Lands End in a 1950's Porsche Spyder and asked if we would lend our support.

We were told that this epic journey was on the behalf of the 'Lighthouse Club Benevolent Fund', the construction industry charity (which supports families of construction workers who die at the workplace) and Adrain and his co driver Gideon would brave the British weather, pot-holed roads and other manic road users in an attempt to raise £2,000 for the fund.

The drive would take place on 10th & 11th October 2010. A distance of over 1,000 miles in two days in a car designed in the 1950’s!

The Porsche 550 was a sports car produced by Porsche from 1953-1956.

Inspired by the Porsche 356, which was created by Ferry Porsche, this car became famous more so for being known as the car in which the famous Hollywood actor 'James Dean' died in on 30th September 1955.

Fortunately, Adrain and Gideon's journey was completed in the little Spyder and the journey ended in a less fiery way than poor James Deans and Adrian and Gideon passed by the monthly Porsche Club meet at Brands Hatch on the way home. There, they could enjoy one last beer before gaining a good nights sleep in thier own beds!

All at Callum Roberts are proud to have played a small part in this and would urge anyone intrested to donate by visiting: http://www.justgiving.com/spydermen

Landlords Act Now!

2010-10-10T10:58:00.000+01:00

Landlords Act Now – peak time!

It seems like yesterday I was writing my first Callum Roberts blog post to introduce myself, yet incredibly a whole year has passed. Since I have started at Callum Roberts a year ago I have seen and learned so much. By the end of August I was feeling confident in my knowledge of the business and well able to handle the day to day workload. I was warned that September is always the busiest time and that I had seen nothing yet, but I admit I did not really know what the guys were talking about.

However, the past month has shown me just how crazy lettings can be when there is a huge influx of renters and never enough properties. We have all been run off our feet dealing with the number of applicants calling and dropping by the office, all looking to move by the end of September. And while there have been plenty of students among them, what surprised me the most was the large number of professionals also looking to move in September.

The result: we have let every single one of our properties, despite getting new stock regularly. Everything from studios at £230 per week to large three bedroom flats at £700 per week has been let. The past five properties we have taken on we have let the same day, so that even when we get more stock, it goes so fast we still seem to have none. There is a definite lack of supply in the market with none of the other agents in the area have anything left to let either. Both Shaun and Dillon have said that in their 20 years as agents they have never seen a market like this.

While this may be bad news if you are looking to rent a property in the next two weeks, this is great news for landlords. With so many applicants at all price points we are letting all sizes and styles of properties in record time. If you have a property you are thinking of letting, or have just purchased an investment property, now is the time to call us and get it on the market while demand, and prices, remain high.

Sold - Pair of Georgian Grade II Listed Houses in Bloomsbury

2010-09-08T13:10:00.000+01:00

We are pleased to confirm the sale of a pair of stunning Georgian Grade II Listed houses' on Great James Street, Bloomsbury, London WC1.

GREAT JAMES STREET is the oldest complete remaining Georgian Terrace street in London, located in Bloomsbury an a few minutes walk from Grays Inn and Holborn.

The pair of houses represent a great investment opportunity, as they are currently an offices with planning permission granted for conversion two single family homes, which will offer over 6000 sq ft of space each.

Both properties have many period features including original panelled walls, ornate balustrades on the staircase and high ceilings.

Asking Price for the pair: OFFERS IN EXCESS OF £5.75 MILLION POUNDS

SOLD - Yorkshire Grey, Grays Inn Road, Bloomsbury WC1

2010-07-15T11:49:00.000+01:00

THEOBALDS ROAD.

Large studio apartment (419sq ft) within a period building.

This second floor property boasts high ceilings, wood floors and large duel aspect windows, which makes for a very light and bright flat.

The property consists of a generous studio room with modern open plan fitted kitchen and a three piece shower room. Located on the corner of Gray's Inn Road and Theobalds Road, across from Gray's Inn, with easy access to Chancery Lane and Farringdon underground stations and all the shops and amenities of High Holborn.

ASKING PRICE £295,000 (LEASEHOLD)

Sold - Three Cups Yard, WC1

2010-06-01T11:07:00.000+01:00

Stunning two bedroom mews house in the desirable Three Cups Yard within part of the converted school development.

The property has been completely remodelled to an exceptional standard by an architect, with many bespoke features such as skylights and glass staircase and glass panels in the walls.

Every fixture and fitting has been selected to complement the design. The reception room has solid oak wood floors and french doors leading to the front walkway. The fully fitted, modern kitchen has limestone tiled floors and quality integrated appliances such as a five ring gas hob and double oven. Upstairs there are two double bedrooms with fitted wardrobes. The main bathroom features a custom made glass bathtub, sink, shower stall and toilet.

The lighting throughout the property was designed by ERCO. All glass, including the bath was designed and hand made by RIBA award-winning architectural glass artist Jeff Bell. The property also features an intergrated Bang & Olufsen stereo system and underfloor heating throughout.

Located a short walk away from Holborn and Chancery Lane underground stations.

ASKING PRICE: £725,000 LEASEHOLD

Sold - Brunswick Centre, Bloomsbury, WC1

2010-05-15T10:58:00.000+01:00

Two double bedroom apartment on the sixth floor (lift) of the popular Brunswick Centre development.

This good sized apartment features a terrace off the spacious reception room, a separate fitted kitchen, two double bedrooms, and family bathroom with separate WC.

The property does require modernisation. Located within the recently renovated Brunswick Centre with its shops, restaurants and cinema, with Russell Square underground station just around the corner, this property boasts an enviable location.

ASKING PRICE: £499,950 LEASEHOLD

Sold - Pied Bull Court, Bloomsbury, London WC1

2010-03-23T14:43:00.000Z

Callum Roberts is pleased to offer this two bedroom, two bathroom flat in a sought-after modern building. The flat is on the second (top) floor of this attractive, purpose built, courtyard development. It features a good sized reception room overlooking the courtyard, with cream walls and cream carpet, opening to the dining area. The master bedroom is neutrally decorated with fitted wardrobes and a large ensuite bathroom with bathtub. There is a second single bedroom. The kitchen and bathrooms do require modernization. This property is located next to the Brish Museum and is an easy walk to Holborn tube station.

Asking price £665,000 (Leasehold)

Sold - Queen Court, Queen Sqaure, London WC1

2010-03-23T14:38:00.000Z

One double bedroom apartment within this sought after building that is located on the North side of Queen Sqaure.

This pleasant flat has wood laminate floors throughout, a separate kitchen with integrated hob and oven, good sized reception room with original fireplace surround, and a bedroom with plenty of storage space.

Situated on the second floor of this period building, which is located a short walk from Russell Square and Russell Square underground station.

ASKING PRICE: £325,000 (LEASEHOLD)

Are you looking for Fact or Fiction?

2010-02-02T15:10:00.000Z

Are you looking for Fact or Fiction?

At Callum Roberts you get BOTH!

Get the FICTION:
If you are looking to buy or rent a flat in March 2010 and view a property with us - we will give you a FREE* novel!

Are you considering selling or renting your property?

Sign up for a free, no obligation sales or lettings market appraisal of your property with us and get a FREE*novel!

Get the FACTS:
Call Dillon Callum or Shannon Fizer on: 020 7242 9977 to schedule your viewing or free market appraisal today!

Or check out our website at
http://www.callumroberts.com/

*Novel by the bestselling Author ‘James Twining’: ‘The Double Eagle’ OR ‘The Black Sun’ - While supplies last. Only one book per client. Offer has no cash value or alternative.

James Twinings latest book: 'The Geneva Deception' is available at all good bookshops. To learn more about the author James Twining, visit: http://www.jamestwining.com/

It’s a Seller’s Market in Central London!

2010-01-27T13:01:00.000Z

It’s a Seller’s Market in Central London!

According to the Office of National Statistics yesterday, the UK is officially out of recession. They used Britain’s GDP for the last three months of 2009 as their measure of economic health, but here at Callum Roberts we use property prices and number of sales as our measure of the economy. And I am happy to report that in the property market in Central London we are seeing signs of green shoots as well.

Since the start of the year we have had more and more buyers come into the office looking for property to buy of all shapes and sizes and at all price points. The problem is that we are running out of properties to offer them. Normally when someone comes in looking for a one bedroom flat in Bloomsbury or Clerkenwell we would have three or four to show them. At the moment we only have one left and it looks like I’ll be getting an offer on that this week as well!

In fact, there has been a significant lack of properties put for sale in Central London in the last couple of months. Generally everyone who had to sell due to a job loss or lack of capital did so at the end of 2008. Most owners in the area can afford to wait until buyers are plentiful and property prices come back up. This means that the few properties which do go on the market tend to sell quickly for close to the asking price. Property prices in several areas have come back up to close to their peak.

However, there are indications that more properties will be coming up for sale in the spring as the UK begins to recover from the recession. If you are a looking to sell your property, now is a great time to put your property on the market as the lack of other properties for sale means demand, and prices, remains high.

SOLD - Lambs Conduit Passage

2010-01-04T11:58:00.000Z

Third floor studio flat in Lambs Conduit Passage.

This well planned flat has plenty of storage and is quite light and bright, with wood laminate flooring throughtout.

The spacious main room features a fitted modern kitchen and double doors leading to the separate sleeping area, which is large enough for a double bed.

Lambs Conduit Passge is just off Theobalds Road, a short walk from Holborn tube station and all the local amenities of Lambs Conduit Street and The Brunswick shopping centre.

ASKING PRICE £290,000 (LEASEHOLD) THIS PROPERTY WAS SOLD IN EXCESS OF ASKING PRICE!

SOLD - Laystall Court, Bloomsbury WC1

2009-11-20T16:04:00.000Z

Laystall Court, Bloomsbury, WC1 £399,950

A pleasant two double bedroom 5th floor apartment that is located on Mount Pleasant. Mount Pleasant is a very quiet Road situated between Grays Inn Road and Rosebery Avenue and is walking distance to Chancery Lane Underground Station. This flat features a large entrance hallway and reception room with wood bock flooring, separate modernized fitted kitchen, two double bedrooms and a modernized bathroom with separate WC. This property is very well presented and offers good sized accommodation.

Recently sold studio flat Bloomsbury WC1

2009-11-20T15:52:00.000Z

Medway Court, Bloomsbury, WC1 £175,000

A studio flat ideally located for both Kings Cross & Euston mainline and underground stations, but also Russell Square underground station. Located within this purpose built block, this property has been recently redecorated and features a pleasant west facing studio room, separate kitchen and three piece bathroom. As with all flats within this block, this property has access to a very pleasant private garden.