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LONDON CENTRAL PORTFOLIO
REAL ESTATE INVESTMENT ADVISORY
Acquisition . Refurbishment . Rental . Asset Management 
LCP Private: January Issue

A Note from CEO, Naomi Heaton 


2016 proved a challenging year for the PCL property market. The past 12 months witnessed a marked slow down in sales (down 24% from a year ago) as Stamp Duty changes affected sentiment and uncertainty, both before and after the UK's Brexit vote, was a running theme. With these headwinds, the year saw the PCL market fragment, creating a watershed at the £1m price point. Property below this saw growth of 4.3% compared with a fall of 6.4% at the luxury end of the market.
Whilst the luxury sector is still assimilating the onslaught of tax changes, the mainstream sector (below £1m) has been far less affected by their introduction. As an entry price market, it is more accessible and has remained particularly attractive to international investors taking advantage of beneficial exchange rates resulting from Brexit. For 2017, LCP anticipate that investors will actively re-enter this sector as sterling remains weak, interest rates low and a softer market attracts those seeking good value.

LCP in the Media
 

As the impact of the UK Government's residential tax changes becomes clearer, LCP has been discussing the current state of play in the sales and lettings market with the global press. Alongside an interview with BBC Radio4's Today Programme, LCP's comments have been published in The Daily Mail, the Guardian and the Evening Standard, amongst others. Click here to read more. With its strong Asian client base, LCP has also been speaking to Asia's Property Report on maximising returns in the current marketplace.
For press enquiries, contact Lauren Kemp on +44 (0) 207 723 1733 or lauren@londoncentralportfolio.com

Heaton Named Top UHNW Property Adviser
 

Nominated by both peers and private clients, Naomi is delighted to have been listed in Citywealth's 2016 Leaders List as the UK's top property advisor for financial advisory and UHNW services. The list is considered the pinnacle of the wealth industry and recognises both LCP's pioneering property funds and the company's unique one-stop service for residential investors in PCL.

Featured Acquisition: 

Paddington Street, Marylebone, W1
 
LCP recently acquired a mixed-use freehold building for clients close to the very fashionable Marylebone High Street. This area has seen significant uplift in recent years with signature developments such as the Chiltern Firehouse and more recently, The Chilterns, a residential block which has been achieving prices of around £3,000/SqFt. LCP's new acquisition, directly opposite, was secured at the extremely attractive price of £1,013/SqFt. 
Its mixed-use nature also allowed our clients to take advantage of commercial rates of Stamp Duty (4.7%), representing a significant saving on residential rates. The property has extensive added value potential and LCP is undertaking a full refurbishment of both the commercial and residential parts to maximise investor returns. The first unit has been completed with a high-spec interior design and has received an asking price rental offer in a matter of days. Click here for more pictures

Featured Acquisition:

Strathearn Place, Hyde Park, W2

Acting for another client, LCP recently acquired a one bedroom property in the sought-after Hyde Park area, within a listed white stucco building. Purchased for £640,000, the unit was stylishly refurbished and interior designed to enhance its period features and the hallway removed to make the best use of the available space. A contemporary take on a classic Georgian interior was created to draw attention to the property's high ceilings and ornate plasterwork, adding an element of grandeur.  
Post refurbishment, the flat was valued at £825,000 and has been let to a blue-chip finance professional, achieving a rent 4.3% over LCP's optimistic projections. Click here for more pictures. 

Day in the life of a Project Manager


It has been a busy start to the year for the Project Management department, currently managing 18 refurbishment projects, as weakening sterling post-Brexit has attracted more of our foreign clients into the PCL market.

We meet on site at the start of the day to assess a newly stripped out unit in Pimlico and run through our existing refurbishment plans. 

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Our mailing address is:
LCP House
Ogle Street,
London
W1W 6HU
United Kingdom
t: +44 (0) 207 723 1733
e: contact.ceo@londoncentralportfolio.com

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