"That's where a buying agent or family office will prove their worth because they have a relationship with people like us," he says. He reckons about half of luxury properties - those valued at about £10m-plus - will never end up on websites. Simon Tollit, partner at luxury selling agency Tedworth Property, says there is a "very large market" that is "invisible and off-market to the majority". This isn't too easy to find in central London, but he says there are a "few houses" in the Hampstead area.Īnother tricky request is from somebody who wants a tennis court - "that's quite hard to find in certain parts of London" - and another who needs a recording studio, ideally in a separate building at the bottom of the garden. "I've had a request recently from somebody with a car collection who wants to house that underground," Mr Schneiderman says. In some cases, estate agents might be asked to approach the owners of properties to find out if they're willing to sell - and while this works "infrequently", it can help if the potential buyer is well-known. It's often these teams who will approach estate agents or selling agents with specifics on what the super rich buyer is looking for - which can sometimes mean finding a property on a particular sought-after street. Super rich buyers will often have family offices (private wealth advisory firms) running the sale process, he says, along with top lawyers, surveyors, architects and designers - all of whom will be on standby and able to get to the property "very quickly". Marc Schneiderman, founder of luxury estate agency Arlington Residential, knows all about this market. Many of these properties are "invisible" to the average buyer - never making it to sites like Zoopla or Rightmove, and instead becoming part of an almost underground market accessible only to the super rich and in-the-know. The cost of living crisis has not slowed London's prime property boom.Ī total of 54 properties in the capital sold for £15m or more last year, costing their buyers a combined £1.3bn.
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