Don’t worry — play domi­noes

The Jewish Chronicle - - CLASSIFIED -

Es­tate agents — stop moan­ing. That is the clar­ion call from one of their num­ber, Real Es­tates, in Tot­teridge, north Lon­don. Prop­er­ties at the top end of the mar­ket — worth £2 mil­lion to £5 mil­lion — are sell­ing slowly but they are sell­ing. Real Es­tates has pulled off a se­ries of sales as sat­is­fy­ing as watch­ing domi­noes top­ple other domi­noes.

The chain started small. A ground­floor, two-bed­room flat in a pur­pose­built devel­op­ment in Mill Hill, north west Lon­don, with an ask­ing price of £385,000, sold through Real Es­tates. Mill Hill is “not, strictly speak­ing, on the Tot­teridge radar,” says the agency’s Oliver Ross but the sell­ers of that flat were able to use the money to buy an­other Real Es­tates prop­erty, a semide­tached house in Oak­leigh Park’s Fri­ern Bar­net Lane, north Lon­don, with a price tag of £775,000.

This freed the sell­ers of the Oak­leigh Park house, who also de­cided to move up. They bought a large, de­tached house nearby, on the mar­ket for £1.395 mil­lion. An­other seller with cash in their pocket was able to look for a new home. They EDITED BY CHAR­LIE JA­COBY chose, via Real Es­tates again, a dou­ble­fronted Ge­or­gian-style de­tached house with heated out­door swim­ming pool in Tot­teridge Vil­lage, priced at £3.5 mil­lion — ex­actly the kind of prop­erty that is cur­rently so hard to sell.

“Each of th­ese suc­ces­sive sales in­curred the in­cre­men­tal stamp duty prop­erty tax but each pur­chaser ac­cept­ing this as un­avoid­able and made the nec­es­sary pro­vi­sions,” says Ross.

Hav­ing done it once, Real Es­tates’ Tot­teridge of­fice did it again. It put to­gether an­other string of sales, start­ing with a re­fur­bished Ge­or­gian-style semi-de­tached house in South­way, N20, on the mar­ket at £1.35 mil­lion.

The sell­ers moved up the road to a re­fur­bished de­tached house in Pine Grove, Tot­teridge, a prop­erty that was not even on the mar­ket at the time.

Ross in­sti­gated the sale by ap­proach­ing the own­ers to gauge their in­ter­est. An on-the-ta­ble of­fer of £4.5 mil­lion was enough to fund their move to nearby Harmsworth Way, where they bought a double-fronted de­tached prop­erty that was on the mar­ket through Real Es­tates. “The rest was, as they say, well — not his­tory per­haps but def­i­nitely psy­chol­ogy,” says Ross.

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