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An optimistic start to the year

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As our presence in central London continues to grow, so do the number of sellers and landlord’s who trust us to sell and let their properties. Across our three prominent office locations, we spend 180-200 hours working hard to find our clients the best buyer or tenant for their property. 

‘So far this year we’ve experienced a surge of proceedable buyers and there’s an optimistic view that prices will increase as the year progresses,’ says Tina Evans, Sales Director at Frank Harris & Co. ‘Over the 22 years I’ve worked in this office, I’ve watched the area develop and it’s now become a destination of choice. More people are buying homes to settle in rather than buying a pied-à-terre for weekday living. The City has amazing transport links, and we are looking forward to the addition of the highly anticipated Crossrail set to open in 2022 in Farringdon which will link us to Bond Street in approximately 4 minutes, Canary Wharf in 8 minutes and Heathrow in 30 minutes. Our buyers are diverse, they range from doctors working in St Bartholomew’s Hospital to families looking to put roots down in the Barbican, to investors browsing our new build properties. We recommend sellers instruct a solicitor as soon as they instruct an agent, be organised with paperwork, fill out protocol forms and if it’s a leasehold property request an up to date management pack as soon as you can. The Barbican Estate is highly sought after as are some of the historic streets leading from Fleet Street. We recently agreed the sale of a property on Wine Office Court within weeks of it coming to the market. Clerkenwell is another one of our popular areas, it’s favoured by creative firms and is home to smart apartments in converted warehouses. It’s also where sleek restaurants and historic pubs sit side by side. Within the last few weeks, we have sold a two bedroom period property on Sekforde Street, the owner was delighted with the bespoke service they received.’ 

‘It’s an incredibly active market at the moment, we registered over a hundred applicants in the first week of January,’ says Ian Swale, Lettings Director at Frank Harris & Co. ‘Our tenants have traditionally been finance and legal professionals however we are now seeing many working in IT and the digital economy, social media and marketing. Along with lots of architects and creatives who love the Brutalist architecture of The Barbican Estate. Our most popular locations are The Barbican and The Golden Lane Estates for fans of mid 20th Century architecture, Charterhouse Square, the narrow alleys around West Smithfield and Bartholomew Close for period and listed properties plus City Road and Old Street which cater to those who prefer a more modern style of living. In order to achieve the optimum price you should ensure the property is fully prepared. Well-presented properties that also offer good value will attract the best tenants more quickly. Being prepared also means making sure the property is fully compliant with all legal requirements and health and safety regulations, some of which were only introduced very recently. There is a lot of legislation for landlords to comply with which is why we are here to make it a smooth and stress free process. We are advising tenants to be ready to make quick decisions. We have been successfully letting properties throughout the pandemic and have had a continuous stream of applicants wanting to rent in the City therefore if you see a property you like and it ticks all the boxes, be prepared to pay the asking price to avoid disappointment as there is a lot of competition out there. Houses in The Barbican Estate are rare as they don’t come to the market very often however, thanks to our unrivalled knowledge and long term relationship with a landlord, we were instructed on their property as sole agents and achieved a fantastic price letting it to a Senior Executive and his family relocation from America.’

If you would like an update on the local market, or if you are considering selling or letting your property, please contact your local Frank Harris & Co. office where our team will be happy to help.

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