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PRIME

JAMES PENDLETON EXPANDS PREMIUM SERVICE

AFTER BIG SHIFT TOWARDS PRIME PROPERTY

London, November 2021 – Property experts James Pendleton have made our Prime Property service official for the first time after seeing a big rise in the number of multi-million pound homes on our books for lettings and sales.

We have been diversifying our operations for several years but has increasingly found ourselves acting for owners of properties selling for over £2million.

These prime properties now represent such a large proportion of the business that we are today putting a name to our premium service — Prime Pendleton.

James Pendleton have been attracting more owners of the most expensive homes because many of them are realising they enjoy the experience of being served by a bespoke, less corporate organisation, and dealing directly with the directors of the business.

We have a strong network of branches in South-West London plus an international desk serving overseas investors, plans to expand our prime business as the market continues to experience rapid growth in off-market sales.

Around one in five prime properties sold through James Pendleton never appear on property portals, and interest in off-market sales and letting is growing. This is because we allow vendors of more expensive homes to protect their privacy, as images are never made publicly available.

Buyers expect to pay a small premium and have to move much more rapidly but they are also able to count on the home of their dreams not being opened up to wider competition on the open market which can cost them valuable time and create more uncertainty.

Prime Pendleton will market premium homes discreetly and ‘off-market’ at first, while customers will continue to receive an enhanced level of service, dealing directly with the directors of the business.

Co-founder Lucy Pendleton said the pandemic had turned the definition of ‘Prime London’ on its head, with domestic clients keen to swap trophy homes in Zone 1 for luxury piles in affluent hotspots further west.

This has actually been the main shift in buyer behaviour since the pandemic began while speculation that London is suffering an exodus due to a home working revolution has been ‘wildly exaggerated’, she says.

 

Lucy Pendleton, co-founder of James Pendleton, said:

“The appetite for London never went away and, with the vaccine roll-out in full-swing, the buzz is building again. The prime London market is going to be incredibly strong this year. There are still more than enough buyers who want to call these areas their home. Rumours of a post-pandemic exodus from the capital have been wildly exaggerated.

“Prime Pendleton will capitalise on sustained interest in the capital among high net worth buyers who, rather than sparking a collapse in London prime property are actually helping to broaden it out.

“The one big change is that the definition of ‘Prime London’ has shifted forever. Prime now includes pockets right across the capital with buyers placing a premium on larger gardens and home offices, not just accommodation and proximity to sought-after schools.

“In this market, we’re finding people want lots of entertaining space and gardens. They might even be happy to compromise on the number or size of the bedrooms if they feel the entertainment and outside space fits their needs.

“Some of these clients have been with us for 20 years on their journey up the property ladder. These days they might be looking to splash out £3million on a home, though that wasn’t the case when we first met them.”

Contact us today and schedule your valuation with our Prime Pendleton Directors

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