London 2 bed flat. Over 1 week listed but only 1 enquiry/viewing - please critique!

davidmcn

Teapot55 said:

I disagree with comments about having two bathrooms. Yes, if you’re the sole occupant, two might seem unnecessary & you could use the ‘family’ bathroom for a bit of storage & just have it as a toilet for any visitors. 

However, if it’s a couple occupying the flat, it’s great for one of them to still be able to get ready to go out etc in peace without having to walk around half-dressed to get to the bathroom & then discover one of your other half’s visitors are in there. 

Yes, it might be useful, but I think many would prioritise having a more usable kitchen, or a decent-sized second bedroom, or any sort of storage cupboard before having a second bathroom to clean.

getmore4less

Alan2020 said:

musehead said:

getmore4less said:

musehead said:

getmore4less said:

Owleyes00 said:

Sorry me again, I just did the similar listings thing and I think you are priced too high.

this flat is the same price as yours and has a private balcony and much bigger kitchen in a similar sort of building 

https://www.rightmove.co.uk/properties/86384266#/

Drop it by £20k and see how you do

problem is that is still for sale and been on a while suggesting that one is also overpriced.

its the SSTC that need to be compared those are the ones people have viewed and made offers of.


I did not get as far as looking at the sold prices in my previous more like this analysis

https://forums.moneysavingexpert.com/discussion/comment/78271605/#Comment_78271605

full matrix for 1/2 mile

	1bed	2bed	3bed+
0-425	33/18	5/4	2/4
0-450	40/22	10/6	2/4
0-475	51/23	12/9	3/4
0-500	57/25	30/14	4/5
0-550	59/26	53/21	5/5
0-600	59/26	76/33	7/8
0-max	59/27	117/63	47/27

its those 14 and the 5x3beds that need looking at to compare.

here are 8  in the 475-500 bracket SSTC.
1/4
https://www.rightmove.co.uk/properties/78957591
https://www.rightmove.co.uk/properties/86017753

1/2
https://www.rightmove.co.uk/properties/88439047
https://www.rightmove.co.uk/properties/83467111
https://www.rightmove.co.uk/properties/78169356
https://www.rightmove.co.uk/properties/97957805
https://www.rightmove.co.uk/properties/104273435
https://www.rightmove.co.uk/properties/85199752

and the first 7 over 500 that are SSTC

£510  
https://www.rightmove.co.uk/properties/90200488

£530 
https://www.rightmove.co.uk/properties/78895350

£550
https://www.rightmove.co.uk/properties/103828643
https://www.rightmove.co.uk/properties/78895368
https://www.rightmove.co.uk/properties/78719751
https://www.rightmove.co.uk/properties/101661860
https://www.rightmove.co.uk/properties/87531583



also handy on RM listing is the direct link to the Sold data

https://www.rightmove.co.uk/house-prices/sw17-7at.html

nothing in the block of interest but go out 1/4m a few but no listings, 1/2m again lack of listing needs more research on the candidates.

this sold for 500k   Dec 2020



AS for the "Patio"   first two pictures kind of shout look at this great outside space fenced off

Is the bit next door has outside the door also communal why is there a privacy fence between?

looking at the planning(2002/3002) it looks to plan.
https://planning.wandsworth.gov.uk/Northgate/PlanningExplorer/GeneralSearch.aspx

Those one beds on the ebd are their terrace areas also communal 


From the plans it looks like to get from the underground parking you have to come up at the end where the shops are then go outside round you patio  then in the door  next to your patio

That's a right trek if you have stuff.

Thanks for your detailed analysis getmore4less.

Regarding the patio area, yes the trellis fencing and planters are all to plan according to the planning application drawings (all have been in place since it was built). The reality is that it was set up as if they are private patio areas - why the developer has done this, I don't know. It would have made much more sense with this setup if the lease included the patio area. The other 4 flats with patios have the same situation - in fact one of them has added extra trellis fencing along the front to make it more private! And nobody is aware that it's a communal area.

But I obviously need to be more clear in the listing and let buyers decide themselves on viewing if they are happy with it.

In fact, there is an internal doorway direct from the parking garage into the main building, maybe not clear on the plans. That way also has a lift, so most people enter the building that way from the garage, particularly if they have stuff.

I could see that doorway into the front lobby with the lift but there is no access to your flat I can see from lobby

only access is going to the entrance next to your patio via the terrace or via the roller doors to the steps..



Do the ones on the end still have their  private decked areas as that what was on the plans
 

Ah yes I see what you mean. You're right, if you enter via the front lobby (through the front door on the main road, or from the garage) you need to go through the door onto the terrace and then access my flat from there. Alternatively you can go via the garage roller doors or the driveway and up the steps onto the front of the terrace without going into the main front part of the building. Most people go up the outside steps to the front of the terrace to access these flats in the back part of the building.

On the far left of the plans, there's 3 flats with private patio areas. They are not accessible by anyone else. I don't know what the situation is regarding the lease for those flats though.

I've attached an image of the plan I'm referring to if anyone is interested! Red arrow pointing to my flat.

Looking at this floorplan, it sounds like the terrace is for your use and owned by the freeholder, but they are maintaining it out of others money (unless you pay a higher service charge).  I think they did this to prevent people asking to extend out.  Have you considered approaching the freeholder to lease that bit of land for the same years as your flat for £5K or so, then it becomes your private space and you can plant bamboo, put a trellis etc and make it your own?

I did not dig any deeper but there is some comment on the planning about not enough seating in the outside spaces  the may be some requirement for those bits of terrace in front to those to be communal.

mind you if you look at the planning( 2003/2187) there looks to be a planter where there is currently access

Marvel1

Open plan kitchen and lounge gets a no viewing from me.

On my own, small kitchen, even if I struggle sometimes with storage, so this has less storage space.

No idea what photos 17, 18 and 19 is suppose to be.

2 bathrooms, no need, I would prefer an extension of one of the bedrooms to accommodate the space.

Daveinlincoln

I think your flat looks great....my only criticism is it looks very "Brown".... all those pine units/bits of furniture and floor are not trendy but its an easy fix with a few contrasting rugs that can be picked up cheaply....a few green plants and flowers inside would work too and are cheap to buy.

musehead

getmore4less said:

Alan2020 said:

musehead said:

getmore4less said:

musehead said:

getmore4less said:

Owleyes00 said:

Sorry me again, I just did the similar listings thing and I think you are priced too high.

this flat is the same price as yours and has a private balcony and much bigger kitchen in a similar sort of building 

https://www.rightmove.co.uk/properties/86384266#/

Drop it by £20k and see how you do

problem is that is still for sale and been on a while suggesting that one is also overpriced.

its the SSTC that need to be compared those are the ones people have viewed and made offers of.


I did not get as far as looking at the sold prices in my previous more like this analysis

https://forums.moneysavingexpert.com/discussion/comment/78271605/#Comment_78271605

full matrix for 1/2 mile

	1bed	2bed	3bed+
0-425	33/18	5/4	2/4
0-450	40/22	10/6	2/4
0-475	51/23	12/9	3/4
0-500	57/25	30/14	4/5
0-550	59/26	53/21	5/5
0-600	59/26	76/33	7/8
0-max	59/27	117/63	47/27

its those 14 and the 5x3beds that need looking at to compare.

here are 8  in the 475-500 bracket SSTC.
1/4
https://www.rightmove.co.uk/properties/78957591
https://www.rightmove.co.uk/properties/86017753

1/2
https://www.rightmove.co.uk/properties/88439047
https://www.rightmove.co.uk/properties/83467111
https://www.rightmove.co.uk/properties/78169356
https://www.rightmove.co.uk/properties/97957805
https://www.rightmove.co.uk/properties/104273435
https://www.rightmove.co.uk/properties/85199752

and the first 7 over 500 that are SSTC

£510  
https://www.rightmove.co.uk/properties/90200488

£530 
https://www.rightmove.co.uk/properties/78895350

£550
https://www.rightmove.co.uk/properties/103828643
https://www.rightmove.co.uk/properties/78895368
https://www.rightmove.co.uk/properties/78719751
https://www.rightmove.co.uk/properties/101661860
https://www.rightmove.co.uk/properties/87531583



also handy on RM listing is the direct link to the Sold data

https://www.rightmove.co.uk/house-prices/sw17-7at.html

nothing in the block of interest but go out 1/4m a few but no listings, 1/2m again lack of listing needs more research on the candidates.

this sold for 500k   Dec 2020



AS for the "Patio"   first two pictures kind of shout look at this great outside space fenced off

Is the bit next door has outside the door also communal why is there a privacy fence between?

looking at the planning(2002/3002) it looks to plan.
https://planning.wandsworth.gov.uk/Northgate/PlanningExplorer/GeneralSearch.aspx

Those one beds on the ebd are their terrace areas also communal 


From the plans it looks like to get from the underground parking you have to come up at the end where the shops are then go outside round you patio  then in the door  next to your patio

That's a right trek if you have stuff.

Thanks for your detailed analysis getmore4less.

Regarding the patio area, yes the trellis fencing and planters are all to plan according to the planning application drawings (all have been in place since it was built). The reality is that it was set up as if they are private patio areas - why the developer has done this, I don't know. It would have made much more sense with this setup if the lease included the patio area. The other 4 flats with patios have the same situation - in fact one of them has added extra trellis fencing along the front to make it more private! And nobody is aware that it's a communal area.

But I obviously need to be more clear in the listing and let buyers decide themselves on viewing if they are happy with it.

In fact, there is an internal doorway direct from the parking garage into the main building, maybe not clear on the plans. That way also has a lift, so most people enter the building that way from the garage, particularly if they have stuff.

I could see that doorway into the front lobby with the lift but there is no access to your flat I can see from lobby

only access is going to the entrance next to your patio via the terrace or via the roller doors to the steps..



Do the ones on the end still have their  private decked areas as that what was on the plans
 

Ah yes I see what you mean. You're right, if you enter via the front lobby (through the front door on the main road, or from the garage) you need to go through the door onto the terrace and then access my flat from there. Alternatively you can go via the garage roller doors or the driveway and up the steps onto the front of the terrace without going into the main front part of the building. Most people go up the outside steps to the front of the terrace to access these flats in the back part of the building.

On the far left of the plans, there's 3 flats with private patio areas. They are not accessible by anyone else. I don't know what the situation is regarding the lease for those flats though.

I've attached an image of the plan I'm referring to if anyone is interested! Red arrow pointing to my flat.

Looking at this floorplan, it sounds like the terrace is for your use and owned by the freeholder, but they are maintaining it out of others money (unless you pay a higher service charge).  I think they did this to prevent people asking to extend out.  Have you considered approaching the freeholder to lease that bit of land for the same years as your flat for £5K or so, then it becomes your private space and you can plant bamboo, put a trellis etc and make it your own?

I did not dig any deeper but there is some comment on the planning about not enough seating in the outside spaces  the may be some requirement for those bits of terrace in front to those to be communal.

mind you if you look at the planning( 2003/2187) there looks to be a planter where there is currently access

In fact, on the landscaping plan you mention and the plan I attached on the previous page, the planters are shown going all the way across the front of the patio which would make it only accessible from my patio door, and not from the communal walkway.

In reality, the developers did not follow the plan exactly and the small planter on the right is missing, providing access between the walkway and the patio area.

I may approach the freeholder to see if I can lease the space.

Crashy_Time

PropertyLog is showing plenty of 25k and 50k price drops for the area, I think the OP needs to be more aware of how the flat is priced.

Lunchbox

I agree the problem is the price. The kitchen is completely inappropriate and impractical for a 2 bed and the lack of private outside space is a problem. Even if no one else currently uses it, not having an exclusive right to use will come up in conveyancing  and will put people off as it’s likely the lease may allow the freeholder to modify it. The square footage is actually fairly low for a 2-bed, how does the price compare to 2 beds with a similar sq ft nearby?

I’m in a zone 3 area and 2 beds with 900-1000 sq ft (almost 30% more), large, practical kitchen areas and large balconies are on the market for 450-460k.

Crashy_Time

On the positive side a week isn`t very long at all! No doubt some buyer desperate to "get on the ladder" might pop up but I fear that London is now awash with basic flats that were marketed as "executive" or "exclusive" or some similar nonsense and with super low interest rates and HTB schemes many people were hoodwinked into buying them, many of these developments are also in areas that 10 or 20 years ago wouldn`t even have been on the radar of "young professionals" as desirable places to live.

musehead

Lunchbox said:

I agree the problem is the price. The kitchen is completely inappropriate and impractical for a 2 bed and the lack of private outside space is a problem. Even if no one else currently uses it, not having an exclusive right to use will come up in conveyancing  and will put people off as it’s likely the lease may allow the freeholder to modify it. The square footage is actually fairly low for a 2-bed, how does the price compare to 2 beds with a similar sq ft nearby?

I’m in a zone 3 area and 2 beds with 900-1000 sq ft (almost 30% more), large, practical kitchen areas and large balconies are on the market for 450-460k.

I've done a comparison of price per sqft for 25 sold and unsold 2 bed flats nearby of similar price. My asking price is £803 per sqft. Average SSTC price is £795 per sqft. But the average of only the unsold flats is £710/sqft. If I dropped to £450k I'd be around £720/sqft.

I think the Balham-Tooting area is relatively expensive for a zone 3 area. Further down the Northern line near Colliers Wood and South Wimbledon stations (still zone 3) you tend to get a lot more for your money.

Lunchbox

musehead said:

Lunchbox said:

I agree the problem is the price. The kitchen is completely inappropriate and impractical for a 2 bed and the lack of private outside space is a problem. Even if no one else currently uses it, not having an exclusive right to use will come up in conveyancing  and will put people off as it’s likely the lease may allow the freeholder to modify it. The square footage is actually fairly low for a 2-bed, how does the price compare to 2 beds with a similar sq ft nearby?

I’m in a zone 3 area and 2 beds with 900-1000 sq ft (almost 30% more), large, practical kitchen areas and large balconies are on the market for 450-460k.

I've done a comparison of price per sqft for 25 sold and unsold 2 bed flats nearby of similar price. My asking price is £803 per sqft. Average SSTC price is £795 per sqft. But the average of only the unsold flats is £710/sqft. If I dropped to £450k I'd be around £720/sqft.

I think the Balham-Tooting area is relatively expensive for a zone 3 area. Further down the Northern line near Colliers Wood and South Wimbledon stations (still zone 3) you tend to get a lot more for your money.

All sounds fair enough. If you took a comparable flat as your starting point though (I.e. 2 bed with similar sq ft) as a buyer I’d be looking at 10k less for the cost and hassle of redoing the kitchen, and 20k for the complete lack of demised or exclusive ‘right to use’ outside space. Add 10k for the parking space if the comparable property doesn’t have one.

I may be wrong, and you can give it some time to see if it picks up but as someone who is looking around these areas, the kitchen and outdoor space would be big issues for me that I’d only be able to look past if it was priced taking these into account, and it’s currently at the top end.