Thoughts, news and insights | London Property Consultants

Life after Brexit referendum

In the wake of the Brexit referendum, Simon Barnes of H. Barnes & Co offers some timely advice to luxury property buyers …

After the last general election the pollsters got it very wrong, and they got it wrong again this time. In the months before the Brexit referendum, in Prime Central London there was an air of uncertainty and waiting, making for a stagnating property market.

Nothing will change instantly after the Brexit referendum

There is no doubt that the final weeks in particular before the referendum deterred some people from signing on their property deal, especially overseas buyers who wanted to wait and see how the vote impacted currency and how the pound stood up against the dollar/euro/rouble. However, now that we know the result there is no firm reason to sit on the fence, life really does have to move on and peoples’ motivation and need to buy property has not disappeared and will not disappear because of what happened on the 24th June.

Elections and referendums produce debate, fill newspapers and airwaves, but they cannot enforce dramatic change overnight. If ‘you’ve got to do it, you’ve got to do it’ and for the wealthy buyer looking to extend their property portfolio in Prime Central London, they will not be put off by the referendum outcome.

At the super prime level in the Prime Central London property market what really impacts and can halt impulse property acquisition are genuine global economic events, like oil prices plummeting or the Chinese stock markets plunging. Most discerning UHNWIs recognise that, pitted against the peaks and troughs of the global markets, London remains both a safe haven and a consistent safe bet in which to invest in prime property irrespective of whether it sits, now or in two years’ time, inside or outside the European Union.

Advice for Buyers

My advice for serious buyers wanting and needing to forge ahead with a purchase:

Be clear and importantly be realistic about what you want and need
Be brave and unafraid to look above your budget and then make offers
Be ready to move quickly and have all the legal work and finances in place to avoid unnecessary delays
Be willing to work with the vendor
Be flexible on exchange/completion timescales
Wear the buyer’s hat when you’re selling (typically vendors completely change their tune when they become buyers)

The key message is for those selling and renting to be realistic in their pricing to reflect the mood and tone of the PCL market; and that there’s always an element of compromise.

by Simon Barnes

Where to eat the best Sushi in London

Here’s a guide on where to discover the best of London’s sushi restaurants:

Prime Central London boasts some of the best sushi restaurants in the country, from reasonably priced trendy haunts to fine dining with sushi prepared by some of the most skilful and talented Japanese chefs.

Top tips when it comes to eating sushi (quickly!)

‘Sushi’ does not mean raw fish, but references the rice being flavoured with vinegar.
It’s fine to eat with your fingers rather than chopsticks, which should be reserved for raw fish slices.
Place your chopsticks across your plate or bowl, standing them upright denotes an offering to the dead.
Leaving soy sauce is considered bad manners, as is dipping sushi rice into it. You should only dip the fish part of the roll to avoid soggy flaking rice.
Sushi is one meal where you are allowed to gobble quickly and eat up!
楽しみます

Simon Barnes of H.Barnes & Co recommends six of the best Sushi restaurants in central London

“Co-founder Shinya Ikeda at Yashin in Kensington and his team of chefs base their menu around omitting soy sauce if you wish, believing that this allows the diner to appreciate the true flavour of the fish. Their unique concept relies on traditional methods dating back some 150 years to the end of the Edo period of Tokyo and involves brushing the fish with exactly the correct amount of soy sauce and choosing the best accompaniment to complement the fish.”

Simon Barnes is a big fan, saying ‘It’s the best sushi I’ve ever eaten!”

“As well as Yashin Sushi, I would head to Roka sushi restaurant in Charlotte Street . It’s a great place to enjoy robatayaki cuisine in an informal setting with plenty of atmosphere in the heart of London’s media district.”

Mayfair is known for being home to all things luxury and Sumosan, hidden away in Albermarle Street is excellent and although expensive is a great alternative to Nobu. For culinary theatre delivered to your table on a glass tray, the ‘sushi and sashimi set’ features a delicious ‘Suzuki’ or sea bass and ‘yamachi’ or yellow fin.

Head to vibrant Marylebone to Dinings, where for ten years former Nobu legend, Masaki Sugisaki and Keiji Fuku have been creating amazing sushi and wowing diners. One of the house’s specialities is wagyu beef nigri finished with foie-gras and sweet soy.

Shogun can be found next door to the Millenium Hotel in Adam’s Row, Mayfair, hidden away in a basement with stone walls showcasing antique Japanese art. This establishment has been going since the 1980’s and provides a traditional and authentic Japanese dining experience favoured by locals and visitors to the Capital.

Sake no Hana in St James’ is a favoured by the smart business crowd, who come for the excellent sake and whisky as much as the food and stand-out service. The ultra-contemporary interior space was designed by Japanese architect, Kengo Kuma.

More modest but serving up an exciting choice of traditional and original dishes, Chisou in Princes Street just off Regent’s Street attracts a trendy creative clientele. Popular signature dishes on the menu include salmon sushi and unagi maki special (crabmeat and avocado rolled inside out with flying fish roe and finished with slow cooked eel. They have opened another eaterie in Knightsbridge to cater for the smart set in south west London.

Join a Sushi Making Experience

by Simon Barnes

Buying off the radar property in London

In London, established property experts acknowledge their geographical boundaries. The nature of the city’s geography and spread of property means that not only is there a north south river divide, but there are micro markets within relatively small areas of the city. Areas within close proximity may offer a differing mix, style and proportion of property, the density of housing, the layout of squares and streets and the range in value, all have distinct characteristics.

Prime Central London

In the same way you would not send your prized Rolls Royce to the local garage for a service, you probably wouldn’t go to the ‘local high street agent’ if you were looking to buy or sell a particular type of property. True, they may be able to do the job eventually, but they wouldn’t be specialised enough to get you the best results. You wouldn’t ask your local estate agent to sell your house in the country, or to find you a secluded villa in the South of France.

The very small market referred to as ‘Prime Central London’ is particularly specialised. Selling a large, lateral flat in Belgravia, or a substantial town house with adjoining mews house in Mayfair, is not about sticking it on your web site, an advert in the freebie property press, then sitting and waiting for the phone to ring. Just as looking for a particular style of house, with off street parking and gardens in Kensington, is unlikely to be achieved by simply registering with the local agents. Rental investment portfolios, unmodernised properties, with development potential, unusual houses. There are specialist ‘expert’ agents for each, but they’re unlikely to be the same agent.

Off the Radar

The property I seek out and deal with is largely off the radar; in fact sometimes it is never actually on the market. This is where that good old fashioned ‘ear to the ground’, tap of the nose stuff really kicks in. His ‘expert’ knowledge of a very specific area means he genuinely knows who lives where, who owns what and can describe the inside of a property from the outside before having crossed the threshold. When someone has been actively buying in an area over a long period of time, they will have their own extensive figures and comparable values to hand based on actual sales,. More importantly, they want to be advised by someone with first-hand experience, who can offer a fistful of examples which will instil confidence in the client and be incredibly useful in buying or selling at the best price and the right time in the market.

In this business some off the radar deals take longer than others. Depending on the circumstances of the deal time spans vary hugely. We completed an ‘off market’ deal last year within 10 days of the buyer seeing the property; but in another case, it took nine months to complete the deal because the seller needed time to find an alternative property. Patience and decisiveness wins the prize, one example being a successful purchase in 2011. We bought a house for a client last year. He was incredibly specific on the address in prime Belgravia, the type and style of house. Unfortunately the house was rented so we couldn’t get to see it. So we waited until the tenant vacated, the house would have been available on the open market and the interest would certainly have pushed up the price. We made the decision we wanted the house, so we bought it without seeing it.

The Buying Agent

It’s important to recognise the value other professionals can add and finding out about property which is not actually for sale is one of the trademarks of a very experienced buying agent and essential when scouting for the finest property investment in PCL. The bedrock is having a solid relationship with the Capital’s key agents built up over many years. Transacting several deals with serious high net worth individuals ensures one access to the best properties both on and off the market. I will often be the first person an agent calls with their ‘off the market’ properties

by Simon Barnes

St Tropez – where real people meet and mingle

St Tropez is a place where people ‘meet’ and many friends rent or buy property here to be close to one another during the summer. The most desirable and expensive residential areas are Les Parcs de Saint Tropez – a private gated exclusive residential development where some of the most expensive luxury villas are situated and prices run into tens of millions.

Les Parcs de St Tropez — Les Parcs de Saint Tropez – Alexandra Lloyd Properties

Other desirable areas are Cap Tahiti, Les Graniers, and Capon. Saint Tropez has a varied clientele. It has always been popular with the Belgians, and Italians, French, Swedish, but also loved by the British, Americans, eastern Europeans, and wealthy Middle Eastern families.

Not only is St Tropez an historic and beautiful town surrounded by beautiful villages and Provencal countryside, but it boasts some of the best sandy beaches around that stretch around five kilometres located along the coast in the Baie de Pampelonne.

The old town of St. Tropez, La Citadelle, is famous for its small unique and famous bars, cafes and hotels. Best spots for shopping, enjoying an expresso, cocktails and dinner, and for partying are The Port, Café de Paris, and Senequier is renowned for people watching and boat envy. During the day people tend to head to the beaches and the luxurious beach day clubs – Club 55 , Les Palmiers, Tahiti, Nikki Beach.

For those wanting to indulge in retail therapy the best designer boutiques, alongside quaint independent shops and boutiques can all be found in the town. For those seeking a more active holiday there is wonderful sailing and the annual sailing race, ‘Les voiles de Saint Tropez’ at the end of September is a celebrated event on the town’s social calendar. Walking along the coastal paths or unspoilt countryside of the Var region, diving and polo are all popular throughout the year.

Accessibility comes in several guises, Nice is the largest airport and dependent on traffic about an 1hr45 mins drive, with direct flights to and from New York, Dubai and most major European cities. The private airport at La Mole is about 30 mins away and Toulon 1hr30mins drive from Saint Tropez; alternatively the nearest helipad is 35mins away.

by Simon Barnes

Saint Tropez: pretty as a picture

Earlier this month a famous painting of Saint Tropez by renowned French artist Paul Signac was sold by Sotheby’s for 10,666,000 USD

Saint Tropez has long been a favourite place for artists and creative types to seek peace and inspiration for their art. Since the 19th Century the aspiring and successful artists would leave Paris and head to the South of France for the relaxed pace of life, the light, colours of Provence and beautiful views of the coast and surrounding landscape.

Georges Seurat Portrait of Paul Signac, 1890, conté crayon, private collection

One such acclaimed and highly collectable French artist was Paul Signac (1863–1935). Paul Signac was a neo-impressionist artist, who collaborated with Georges Seurat to develop a specific painting method termed ‘Pontillism’. Parisian born Signac turned to painting after initially studying to be an architect. Based in Paris, he spent time travelling around Europe painting landscapes.

In April 1882, Signac sailed from Concarneau to the south of France for the first of many visits to Saint Tropez, after the death of Seurat in 1881. On reaching the port, which was then only accessible by boat, Signac was struck by the vista houses with terracotta roofs. Such was Signac’s love of the place, he bought a house in Saint Tropez and would spend summers painting, joined by friends. Over several decades, the harbour and coastline continued to be a source of inspiration leading to several other works.

Earlier this month on the 9th May 2016 in New York, Paul Signac’s painting, ‘Maisons du port Saint Tropez’ (inscribed Op.237) was auctioned for the first time at Sotheby’s Evening Sale of Impressionist & Modern Art. For 58 years this painting was in the family collection of Ambassador John Langeloth Loeb, Jr. since his parents acquired it in July 1958. The painting sold for approximately $10.6m, having carried an estimate of $8-12 million USD.

Paul Signac - Maisons du port Saint Tropez — Paul Signac – Maisons du port Saint Tropez

Paul Signac painted ‘Maisons du port Saint Tropez’ at the height of his time as the forerunner of neo-impressionist painters, when he allocated ‘opus numbers’ to his works. Signac explained that this in this particular painting, ““The separated elements will be reconstituted into brilliantly coloured lights.”

Jeremiah Evarts, Head of Sotheby’s Impressionist & Modern Art Evening Sales in New York, comments: “Maisons du port, Saint-Tropez is a true manifesto of Pointillism. Through this stunning view of Saint-Tropez, Signac is searching for the musicality and beauty in the world around him, and the resulting ‘Opus’ is the greatest we have seen come to auction in almost a decade.”

Credit: ART DAILY: Sotheby’s to offer Paul Signac’s ‘Opus’ masterpiece Maisons du port, Saint-Tropez

Nothing will change instantly after the Brexit referendum

Advice for Buyers

The key message is for those selling and renting to be realistic in their pricing to reflect the mood and tone of the PCL market; and that there’s always an element of compromise.

Top tips when it comes to eating sushi (quickly!)

Simon Barnes of H.Barnes & Co recommends six of the best Sushi restaurants in central London

Simon Barnes is a big fan, saying ‘It’s the best sushi I’ve ever eaten!”

Join a Sushi Making Experience

Prime Central London

Off the Radar

The Buying Agent

Contact H. Barnes & Co – Tel: 020 7499 3434