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PrimeResi Quarterly Journal

The handbook of the luxury property industry

Click on the cover to find out more

PRQ8

Current issue: Winter 2016/7

Next issue: due for publication in April 2017

£19.95m (including Stamp Duty): The priciest property so far to be launched online-only

An online estate agent has pocketed £899 as sole agent on a £19.95m (£17.9m ex-SDLT) house on Phillimore Gardens. SellMyHome.co.uk is claiming Phillimore Gardens as the most expensive property ever...

An online estate agent has pocketed £899 as sole agent on a £19.95m (£17.9m ex-SDLT) house on Phillimore Gardens.

SellMyHome.co.uk is claiming Phillimore Gardens as the most expensive property ever to be launched solely through an online agent, although it has been touted around by a fair few traditional agents for quite a while. We even featured it as PrimeResi’s Property of the Week over a year ago, with a significantly lower asking price of £15m.

The vendor has decided to throw full stamp duty in with the £19.95m asking price this time, effectively raising the list price by £2,060,491 in the interests of marketing and transparency. “It’s no secret that SDLT has had a negative impact on properties at the top end of the market,” says the vendor (who’s not keen to be named). “It’s not only caused confusion but has discouraged investment in an asset class that has for many years been seen as a long term safe bet, particularly for overseas investors. Buyers have to pay stamp duty so it makes sense to me for everything to be transparent. Above anything else Phillimore Gardens is a highly sought after location so by including the SDLT in the asking price I am looking to share the additional cost with the purchaser.”

The property is on SellMyHome’s “London Package”, which costs £899 (including VAT) for a year’s worth of marketing including advertising across Rightmove, Zoopla and PrimeLocation, a Virtual Walkthrough tour, unlimited photographs, professional floorplans, a dedicated account manager, and a For Sale sign.

  • Here’s the Virtual Walkthrough:

Will Clark, Director of SellMyHome.co.uk: “Online estate agency can work at all levels of the market. This property on Phillimore Gardens is likely to attract interest from around the globe due to its premium location. With exposure on the most prominent portals, Rightmove, Zoopla and Primelocation, as well as a virtual walkthrough, interested purchasers will be able to have their first look at the property from the comfort of their own home. With support from SellMyHome.co.uk we expect that the vendor will be conducting viewings with both buying agents and interested purchasers alike. The inclusion of stamp duty land tax is a marketing tool that ensures transparency and offers good value on a per square foot basis when compared with similar sales on the street.”

Dining Room - Phillimore Gardens - Medium Res Drawing Room- Phillimore Gardens - Medium Res Exterior - Phillimore Gardens - Medium Res

Full details here

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