Vail Williams was appointed to provide technical property due diligence advice on a multi-million pound residential property on behalf of a high-net worth investor based abroad.
The newly built property, situated in the sought-after area of Hampstead, had a purchase price of £16 million and boasted six bedrooms, a swimming pool and fitness suite.
How we helped
Undertook a pre-acquisition survey of the property, which was marketed as boasting a high-end finish.
Identified several issues, including problems with the pool, master suite ventilation and poor finishes, as well as defects in the building’s fire proofing.
Also discovered aesthetic issues not in-keeping with a high-end property, including a garage which would not fit an executive car, a kitchen with only 4 sockets and poor-quality sound proofing.
Produced a building survey report for our client, detailing our findings, to inform his investment decision.
Using our building survey report, the client successfully sought a £1.3m reduction in the sale price, together with a programme of remedial works to address issues identified.
In the end, considering the results of the report, the client decided that the property was not the right investment opportunity for them at that time, and went on to purchase elsewhere.
Get in touch
If you think you may need similar support to that described here, or you would simply want to have an informal chat with a member of our team to discuss your property needs, get in touch.