Estate Agents Surrey: March 2012

Sunday, March 25, 2012

Welcome to Wentworthski: Multimillion pound family home on exclusive Surrey estate sparks Russian bidding war

One of the most desirable homes on the exclusive Wentworth Estate in the heart of Surrey sparked a Russian bidding war this weekend reports the appointed agent, Barton Wyatt.

September House, the luxurious detached property from established developers, Millgate Homes, enjoyed a flurry of interest from a number of international buyers in recent weeks but it was two Russian families who eventually went head to head to secure the sale.

After fierce negotiating the lucky winner transferred the deposit for this £6,250,000 family home in record time and is set to move in within the month.

Commenting on the successful sale, James Wyatt, Partner of the award winning agency, Barton Wyatt, says:
“It is sales such as September House that make estate agency really exciting. In my 25 years in this industry, I have never seen such strong competition for a property. Both parties fell in love with the 10,000 sq ft new house but in the end, as it often does, money talks and the lucky buyer secured the deposit first.

“The indoor swimming pool was a big hit in this house, not to mention that the property had been dressed by well known interior designers, Alexander James Interiors who worked with Millgate Homes to create a perfect blend of luxury and sophistication.”

September House’s new owners will not be the only Russian residents in the area. This corner of leafy Surrey has become a hotspot for Russian families attracted to the open green spaces, easy commute to London, large detached new homes complete with high tech security features.

James Wyatt continues, ‘I wouldn’t go so far as to say that this area has turned into ‘Wentworthski’ but I can certainly see why international buyers, including Russians, are buying in and around Wentworth in ever increasing numbers. Be it their primary family home or a country retreat, the estate offers some truly special homes.”

For more information on the Russian demand for property in Surrey contact Barton Wyatt on 01344 834000 or visit www.bartonwyatt.co.uk.

Barton Wyatt provide luxury golf villas in Florida and select Property in Sunningdale. James Wyatt MNAEA, MARLA, TRC, REALTOR ® is a partner at Barton Wyatt Letting Agents Surrey. Tel: 01344 843000

Wednesday, March 21, 2012

Closure of Stamp Duty loophole will not deter my foreign buyers says James Wyatt

21st March, 2012

"Chancellor George Osborne might have kept his promise of coming "down like a tonne of bricks" on those who have avoided paying stamp duty by closing the tax loophole in today's Budget but this won't deter foreign nationals from buying property in UK.

The UK is an extremely attractive place to buy property given the Pound's weakness in recent years. In fact the UK is an all round favourite choice due to our dominant financial centre, superb sporting and cultural activities, some of the World's best restaurants and top drawer educational choices.

Since the start of 2012, 35% of our business has been selling houses to overseas buyers and of those, 65% were from Eastern Europe (Russian, Ukraine & Kazakhstan).

Barton Wyatt have sold properties on the exclusive Wentworth Estate and St Georges Hill, Weybridge, both of which are attractive to wealthy buyers. Foreigners pay an average of £8m for a house and have taken advantage of the loophole using an offshore company in the past however at this price point, I doubt the revised 7% stamp duty applicable on standard purchase vehicles moving forward would put off a serious buyer.

In terms of property types, new homes is the preferred purchase by foreign buyers. Recently one luxury developer Millgate Homes sold 'September House' on Wentworth for £6.25m after a bidding war broke out between two Russian families.

The problem we face in the Home Counties is not the closure of the stamp duty loophole but a dwindling stock of new properties of a high enough calibre which will inevitably lead to price rises."
For more information or immediate bespoke comment from James please contact Barton Wyatt on 00 44 1344 843 000.

Barton Wyatt provide luxury golf villas in Florida and select Property in Sunningdale. James Wyatt MNAEA, MARLA, TRC, REALTOR ® is a partner at Barton Wyatt Estate Agents Surrey. Tel: 01344 843000

Wednesday, March 14, 2012

US tenants drive lettings market in Surrey

According to data from Surrey's Best Estate Agent, Barton Wyatt, US nationals are driving the North Surrey lettings market, accounting for 45% of all tenants in rented properties in 2011.

Established in Virginia Water for nearly 50 years, the award winning agency Barton Wyatt which specialises in high end lettings as well as property sales, also revealed that despite the majority of rental stock in 2011 being privately let, almost 20% was let to companies and their employees.

Commenting on the findings, Partner James Wyatt, who celebrates his silver anniversary at Barton Wyatt this year, said:

"In line with the recent findings from PrimeLocation.com which revealed that the location from which the highest volume of searches for British property to buy was the US at 21%, we too have seen a resurgence in US nationals renting in the North Surrey area, accounting for nearly half of all lets in 2011."

Wyatt continues,

"During the recession we saw a decrease in the volume of corporate lets particularly with many international companies downsizing operations or relocating, many back to the US. In 2011 however we saw this trend reverse with US professionals and their families once again returning to the area for employment which in turn has boosted the corporate lettings market."

Of Barton Wyatt's corporate tenants, the most popular sectors of employment in 2011 were energy at 19%, finance at 15% and telecoms and pharmaceuticals each accounting for 10%. As Lettings Manger, Joanne Parris explains, "Some of our biggest corporate letting clients include oil and gas giants BP and Shell as well as the 10^th largest pharmaceutical company in the world, Eli Lilly and American corporation, Dow Chemicals."

Indeed this leafy corner of Surrey, in and around Virginia Water, only 42 minutes by direct train to Central London, seems to be the preferred destination not only for major US conglomerates to house their UK operations but also for employees to reside. A number of American expat groups and communities exist in Surrey such as the American Women of Berkshire & Surrey and the presence of not only TASIS in Thorpe but the ACS International Schools in Egham and Cobham is highly appealing to families.

These flavours of home combined with the large, often American style open-plan properties on offer in the area make it an obvious choice. As James Wyatt points out, "Over the years we have seen a greater demand from our US tenants for larger detached homes with properties in the area now averaging a substantial 5 - 6000 sq.ft. 4 and 5 bedroom properties are frequently the most popular with smaller 1 and 2 bedroom apartments barely rented by this market."

One such home, available to rent today is Sylvanus House located in Sunningdale. This great family house just minutes from the shops and mainline train station comprises master suite with full dressing area, guest suite with bathroom and dressing area, 3 further bedrooms, family bathroom, living room, dining room, study, open-plan kitchen / breakfast room leading to a family room as well as a double integral garden and gardens to the front and rear. Available for £4,750 per calendar month, this type of property is ideal for corporate tenants and won't stay on the market for long.

Saturday, March 3, 2012

Property Near ACS International School

Relocation is always a possibility for various professionals in the course of their careers. When families have to relocate, housing often plays a big role in determining where to stay. Schooling considerations may also come into play. Although transformations in learning have made it possible to train for many careers online, the hands-on nature of certain courses still necessitates physical attendance of classes. Check out the resources here for more on distance education.

When relocating to foreign countries, it is common for individuals to seek schools that have an international aspect. This is because international schools allow students to adjust more successfully to the new school environment. ACS International School, located at Egham in Surrey, England is one of the finest examples of an international school. It offers a unique curriculum that meets the needs of both international and local students. The school has an extremely diverse selection of students, representing all continents, which truly reflects a global outlook in the educational arena.

The property market for many of the towns near the school is well developed. With various housing styles and neighborhoods to choose from, you’re bound to find a house within your range. The school is served by an excellent transportation system that consists of a highly advanced road and rail network. This allows easy access to London and other metropolitan areas. Heathrow and Gatwick airports are conveniently located not far from the school, which makes international travel easier to manage.

The high demand for properties in Surrey has contributed to a high market value for housing. Properties on the market include rentals and properties for sale. Several factors have contributed to making Surrey one of the most desirable places to live in. These include excellent transport network, wide availability of various levels of schooling, including preschool, primary and high schools, good range of housing, vast areas of woodland, low crime rate, and quality shopping opportunities. Housing designs in Surrey include Georgian style houses, romanticized styles, Surrey-style varieties, suburban-style houses and Victorian housing. The good range of housing styles also helps to sustain high interest in the property market near ACS International School.

Barton Wyatt provide luxury Property in Sunningdale. James Wyatt MNAEA, MARLA, TRC, REALTOR ® is a partner at Barton Wyatt Estate Agents Sunningdale. Tel: 01344 843000