Lower Ground Flat

[pigsinwings]

We live in a lower ground flat in London that has been refurbished and is in excellent condition. Large and lateral with very high ceilings making it light and airy. It is in a purpose built block and has no garden.
Priced cheaper than other flats in the block as we know people don't like lower ground flats.
We've had over 25 viewings, everyone says nice things about the flat but no one makes an offer as they don't like lower ground. One offer at 15% below asking which we accepted and they pulled out as after mulling over they didn't want lower ground.

Is a lower ground flat an absolute no for the majority of you? What are we missing?

@DespairingHomeowner

Also, would you be willing to rent to break chain? Can you market as chain free, & is it a FTB type property? This would appeal to anyone in a rush to meet the stamp duty cut off (eg in jan/if a sale falls through)

It sounds similar to the LG I rented in a mansion block (though that had a garden). Between someone who has lived in one so has a realistic view, or people who are stretching budget for space I hope you will get somewhere

If you refurbished 2 years ago, is there anything cheap to do (I’m thinking refresh some paint, fix any little niggles)

Thanks for your positive vibes! I'm hoping someone will come along to buy. Been on the market since July and happy to rent but would prefer to sell.

Fingers crossed someone comes along soon! We've loved living in it, happy family memories. Hope someone feels the same about the place......

I personally wouldn't be against a lower ground floor flat at all, if the price was cheaper than the rest to reflect that. I obviously wouldn't want to pay the same price for a lgf if a higher floor was the same price. It sounds like you're priced right and the right buyer will come along for whom lgf is not much of an issue if price is right.

Yes, and the fact you have a porter and CCTV are definite security positives.
Fingers crossed for you Op.

I agree it's probably the lack of garden. Is the ad clear that although it's a lower ground floor it has no outside space?

The ad does say no outside space. There are three other flats on the block up for sale and the movement overall has been slow.

Clearly lack of garden and lower ground makes it challenging. Especially as people wonder about the long term value of London property post Covid-19 and Brexit.

Maybe it'll just take a bit longer to sell because everyone is looking for outside space at the moment. It's probably worth staying put if you can rather than taking a big hit. Yoir flat sounds lovely lower ground floor or not, and sooner or later it will sell.

I'd only buy lower ground as it is the one with a garden. As you say yours does not. But it seems ridiculous people viewing your flat and rejecting it as it's lower ground - surely they know that from the description?
If you want to sell it means lowering your price.

My in-laws own two lower ground floor flats in London. They live in one, which has an internal courtyard And rent out the other one, which has no garden area but is right across the street from Hyde Park. If I was to choose one of theirs to live in, I’d choose the one with the courtyard but just because it has a better layout than the one without outside space.

Are you near a park, can you push the, just round the corner from X park, line? In case people want outside space? I agree with pp, people surely know that’s its lower ground floor when they come to view.

As people know it's LG and has no garden but still view it - it could be the street itself, too many passers-by, or busy-ish with cars an dwindows are too close to the pavement?
Or something off-putting at the back - a view of pipes / unsightly wall? These are a few things which wouldn't be obvious from description.
I think you should lower the price a little more on listing as you were prepared to accept nearly 25% less! Most people are just not brave enough to odder that low, so they think no point in trying. They may look under your price range only and can see your is too much above that.

*offer that low

I think it sounds gorgeous. Do you have a Rightmove link?

@CatAndHisKit

As people know it's LG and has no garden but still view it - it could be the street itself, too many passers-by, or busy-ish with cars an dwindows are too close to the pavement? Or something off-putting at the back - a view of pipes / unsightly wall? These are a few things which wouldn't be obvious from description. I think you should lower the price a little more on listing as you were prepared to accept nearly 25% less! Most people are just not brave enough to odder that low, so they think no point in trying. They may look under your price range only and can see your is too much above that.

To be clear, it's priced at 10% less than other identical flats. We accepted an offer at 15% below the asking price, so net net 25% below. Looks like we have to wait it out. Fingers crossed!!

Can't share the Rightmove link as it would be very outing :(

I think you need to start by pressing your Agent. Ask them for better feedback. 'It's a LG flat' is BS. A good Agent wouldn't be showing it to people who are adamant they don't want a LG Flat & those that are waivering will have another reason why your flat, in particular, is not what they're after

LG wouldn't be my choice as I like my doors and windows open all the time & that wouldn't be wise/safe.

However, life is a compromise and if LG was all I could afford, then I'd compromise other things before I compromised on no outside space (personally I'd sacrifice the interior being done already because that's something i could change, whereas outside space can't be changed and having lived in a place with no garden (& with a park across the road) I would NEVER do it again (sorry).

Get onto your Agent!

🤞🏼 You get a buyer soon!

As far as being outing - unless you've posted about weird fetishes or how much you hate your SIL, does it really matter?

Unfortunately the usual trade off for lower ground is that it has the garden; what’s the situation with yours - does the upstairs flat have the garden and therefore look into your flat? That would be the double whammy that will knock out the basement fans. I’ve had / known some very nice LG flats in Maida Vale / Notting hill / north Ken but in each case, the direct access to a lovely garden has made up for security issues (&!tube rumble!)

(FWIW, I’m trying to sell a flat with incredible communal gardens but no direct access. Not even getting viewings)