Another One Bites the Dust

This property – the third – was supposed to be the lucky one. It was supposed to be mine! And to be honest I really did want this one, but I didn’t get it. Why? It’s another long story.

When I first lived in London over twenty-five years ago I lived in a shared flat on the Fulham Road. There were 10 of us; it wasn’t exactly private. Or quiet. We shared everything and it was CHEAP, which made living in London affordable on a very low salary. It was also a fantastic flat in a fantastic location; you could hear the Household Cavalry trotting off from the stables to exercise in Hyde Park a couple of times a week.

I lasted there three months and then moved to leafy Putney… And it always stuck in my mind that if I had the chance to buy a property on the Fulham Road, I would go for it.

So after the warehouse disaster, I started looking in the areas I knew and this little, tired, gem of a flat on the Fulham Road just called my name. It hadn’t had anything done to it since the 90’s, it was just waiting to be taken in hand (by me) and given a new lease of life. So what was the catch? HA – you figured that out already, did you?

first floor flat

It needed its lease extended.

And that was going to cost. The agent mentioned this at the first viewing, so I did know I was going to have to pay for this and the agreed purchase price certainly accommodated the lease premium. I was happy to take that on, but things unraveled really quickly.

Within the first week of my offer being accepted I discovered that the sellers hadn’t had a leasehold survey done. What is this? Well, its jolly expensive is the first thing I should say. It’s a report done by a surveyor to set the value of the lease premium in relation to the value of the property and others of the same ‘type’ in the same area. Essentially the premium compensates the freeholder/landlord for loss of earnings (ground rent) but does not factor in things like the general condition of the building and certainly not the decorative order of the property. What we found was that the premium we’d been told was likely to be asked was a fabrication – though not a million miles from what was an accurate value – just more than I wanted to pay for a building that needs a fair bit of TLC – because the moment I became a leaseholder, I too would have a share of those costs.

With the advice of the surveyor and my solicitor I asked the sellers if they would consider extending the lease in their name – if I increased my purchase offer to cover the premium – so that it would be transferred to me as part of the sale. That way the whole process would be ‘friendly’, they already knew the freeholders and it would be a simple conversation between them to get an agreed price for the extension. Or so I thought. They would only agree to doing this if I paid them a consideration – which they would split with me if the premium was less than what was agreed between us. Hmm. And then I got a really weird call from the agent to tell me that they could get more for the flat with the lease extended, if they remarketed it. Hang on, I was buying it, it wasn’t being remarketed. Was it?

From that moment things got nasty. The sellers refused to talk to the freeholder on my behalf, they would only allow us to start the lease extension after exchange of contracts – so at the point I owned the property and deposits had changed hands – and they kept pushing for me to agree to their terms. I got twice weekly phone calls from the agent, to see ‘how I was getting on.’ One of them left me shaking. So after three weeks of this I couldn’t take it anymore and withdrew my offer.

That was nearly three weeks ago and more pieces of the puzzle have revealed themselves, but the bottom line is that the sellers wanted more money for the flat than the market was prepared to pay. The place had been for sale since March of 2016 and they hadn’t accepted any offers before mine. Somehow in the process of accepting my offer they decided they would recoup some extra funds from somewhere. But how to do it?? Aha. Inflate the lease premium. Thing is they hadn’t done their homework.

the palette for the updated interior

If they had initiated the leasehold survey and agreed the price with the freeholder in advance, they could have added their little bit extra and no-one would have known. I’d never have questioned it because it would have looked like they were organised sellers, paperwork in order and all ready to go. But because the agent kept making ‘out of nowhere’ comments, I knew something was up. Every time he tried to coerce me into accepting the sellers terms he would mention that they could get more if they remarketed it.

In the end they got what they wanted, but the market is pretty uncertain right now; maybe it’ll be another year before they actually have it off their hands. And have I found another place to buy?

YEP…

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Planning a Space

I’ve mentioned before how important it is to have your interior space work for you. Not only does it have to house all your belongings, it has to accommodate you, your family and visitors too and if you live in a period property the way it functions now will be very different to how it functioned when it was built.

A house I’m working on at the moment had a raft of alterations done to it about 16 years ago that modernised the property. The clients signed off on the plans and liked the work, but considering my brief, I’m not sure they were ever particularly happy with the function of the space afterwards. So it’s been an interesting task because what those improvements did has actually created problems that in rectifying, I’ve had to decide not to do anything with. I know, that sounds mad, but where steels have been put in, I’m leaving them; where windows have been fitted, I’m leaving them; where ceiling heights have been reduced, I’m leaving them and where soil stacks have been installed, I’m leaving them too.

Yes, I am actually planning on doing things to the house – in fact we’ve finished the first two phases and the final, most invasive scheme was kicked off at the end of January. The clients gave me the go-ahead to radically update the downstairs by putting back in a wall – a glazed wall – early in December. But more on that another time, the space just finished is a master bedroom suite and so far, it seems to be a success.

miranda bedroom

We started out with two adjacent rooms – the bedroom which was the full width of the house and overlooked the street and the ensuite which had been created by borrowing from and reconfiguring the bedroom behind it. The ensuite was also able to be accessed from the bedroom behind and I think when the family first moved in would have been a practical nursery for their new born son. But times have changed, the rear room is now a study and both parents have said how they wanted to have their room back – privacy was definitely a motivating factor in this redesign.

existing layout

At first I approached the layout in a very conventional way, left the ensuite where it was and just closed in the door to the rear bedroom/study, but the issues surrounding this were largely of storage and whichever way I looked at it, I couldn’t get enough wardrobe space by leaving it in the bedroom. It just didn’t feel very exciting, the bedroom would still be long and dominated by a wall of wardrobes. Yes, I do put together schemes that are simple and don’t involve a lot of building work – but they usually happen when the space is good to start with – and when the client wants a lot from a space, sometimes there is no choice but to spin it on its head.

refurb

That’s when I started to think about this annoying soil stack that had been installed from the upper floor and came down on the party wall through the master bedroom and the front entrance way! It wasn’t at all noticeable but it couldn’t be moved, so why not use it?? Why not spin the layout round and put the ensuite at the far end of the bedroom? That’d mean the old ensuite would become the dressing room and we could double the amount of wardrobe space, the mess would be out of the bedroom and the whole space would have a more intimate and enclosed feel to it.

new layout

I re-drew the space to see if it worked and it really did!

Usually there’s a point where all the thinking and the drawing comes to a natural conclusion – and I know I’ve got it right because I get all excited about it – I can see it in my mind. In this case, I wouldn’t have suggested putting in a new soil stack but because it was already there, I was able to take advantage of the location it was in – and in making that decision the whole scheme fit together like puzzle pieces.

creating the ensuite

creating the ensuite

creating the dressing room

creating the dressing room

Yes, it has created a smaller bedroom, but it is one that is focused solely on sleep and relaxation. It has a serenity to it; a sense of calmness. There used to be two entrances to the bedroom before, now there is only one. It’s become a destination instead of a corridor and each piece of furniture in there enhances that feeling of peace. The ensuite has that same sense of tranquility too – and this really is a small space. These are all issues to consider when you’re planning a bedroom suite. How much time do you really spend in your bedroom as an adult? In your own home, not that much! So the important function is to promote rest and allow you to start the new day refreshed. It’s worth considering the surrounding rooms if you want to get the space right, but most importantly, take advantage of what you already have. Don’t make something that can’t be moved a negative, instead make the things you can’t change a ‘feature’ or at the very least the pivot for changing the way you think about the room.

using the existing drainage to be concealed in a cupboard

using the existing drainage to be concealed in a cupboard


ensuite

miranda's bedroom