This is a fast-moving market where information about forthcoming developments is in itself a valuable commodity. We possess this knowledge: Based in central London, we work closely with many of the most important UK property developers and agents, and we have unrivalled knowledge of London’s planning laws and construction opportunities built up over many years.
In addition to advising Russian and overseas clients on off-plan property purchases, we handle the full spectrum of commercial property transactions, including the acquisition of large scale retail units, hotels, leisure centres, licensed premises and development land.
Our highly developed commercial approach to property law gives us and our clients the edge when it comes to successful property investment.
Why buy off plan?
For savvy investors, purchasing London international investment property off plan has many advantages, including:
The opportunity to get the best flats or houses in a particular development
Discounted sale prices by developers keen to secure funds to meet construction costs
Personal input into the design and decor of your property
Convenience, particularly for those who are based overseas, as they do not need to travel to London to complete their investment purchase
You get a 10-year guarantee on the built property
You can re-sell the property before completion without paying stamp duty land tax, but realising the capital gain/profit
Of course, there are risks. If property prices drop or the developer encounters financial problems, your investment could be jeopardised. We will carry out all necessary investigations to ensure you make your investment with your eyes open.
How to purchase off-plan property
While the principles of off plan purchases are the same as any residential property purchase, there are striking differences:
You reserve a plot and pay a reservation fee — usually between £1,000 and £10,000.
In this type of purchase, the developer imposes strict deadlines. Once we receive title documentation, you normally have 21 days to sign a binding contract.
On exchange, you pay a 10 % deposit. You will pay an additional 10% deposit after 6 or 12 months after the exchange (this will vary on each development)
Following exchange of contracts and while the property is under construction, you can usually sell your interest and take advantage of any increase in market value. However, it is important to check the contract terms, as some developments do not allow resales before practical completion or allow to sell just once before the build is complete.
When construction is finished, the purchase is completed.
We will always agree a fixed fee directly with you before you make any commitment
To discuss investment property possibilities in London, call us on +44 207 129 129 6 or contact us online. We are located in St. James’s Square, close to Green Park and Piccadilly in the centre of London.