London flat not selling. Why? Why? Can you plz help me to understand.

[Mypizzicato]

My 3 bedroom flat is not selling. It has been on the market since a week before the 1st National lockdown in March.
Had a few viewings but not offer. Price was reduced twice since March.

www.rightmove.co.uk/properties/68930043#/

I think it's a nice flat in a great location. We also extended the lease till 2197
I know that London at the moment can be a difficult market but this would be still a nice flat when things would be back to normal.
Thanks for any suggestions

Kitchen cupboards need a face lift as at the mo that looks like an expensive job . No bath - might put off 3 bed family buyers . No garden- but are there any common areas that might offset that ?

On the whole though it looks spacious and to have potential ... the real problem is probably just the current crisis

Estate agent friend tells me that business is booming for properties outside Central London with gardens. The feeling is that, after lockdown, no-one wants to be cooped up again in a flat without its own garden space. You may be better off putting off the sale for 6 months, if you are able to wait.

That price
That location

I don’t the OP needs to do a Damn thing!

If limited interest it’s because of fact they’d miss out in stamp duty and there’s a real “wait and see” in London atm

For me it is because the very first photo is of the building which makes it look like a very rough area as the very first impression

I think people who would think this have never been to Maida Vale

@formerbabe

For me it is because the very first photo is of the building which makes it look like a very rough area as the very first impression

I think people who would think this have never been to Maida Vale

Hence my suggestion for separate London property area!

@formerbabe

For me it is because the very first photo is of the building which makes it look like a very rough area as the very first impression

I think people who would think this have never been to Maida Vale

This!

I think most people would want to rip out that kitchen, flooring and all and start from scratch, so would budget accordingly.

The rest looks, to me, like the inside of a concrete box, painted. It's plain and without character. That blue in the living room is cold and anonymous.

But, I looked at a similar-ish flat on here last week that everyone else said was far too cluttered, with books, textiles, art etc and I thought it looked lovely, cosy and welcoming. To me, that other one hid the fact it was a concrete box in a concrete block and presented as a home, whereas yours does not.

Wow not being rude here but it looks like something from an Eastern European tower block. I’m in Scotland and you could buy a gorgeous 6 bedroom detached house with that. I’m sorry but I know we’re I’d choose to live. I wouldn’t give even pay half of that for what your asking. I must live in another world. Sorry just my opinion

I like the flat very much but the kitchen is outdated. You have a lovely balcony so there is outside space but the block looks like ex-council and may be off-putting for that reason?

You need more than 7 or 9 photos to sell the flat as the ones here possibly don't do it justice. The best one is the balcony and then the sitting room. I'd replace the half curtain in the kitchen with a snazzy blind and clear all the gadgets away before retaking a photo and paint the wooden cupboards if possible.

Flat in your block sold in 2018 for £550K (2 bed) and another (4 bed) sold in 2019 for £465K. I suspect you need to lower your expectation again even though you've reduced twice since March.

I think people who would think this have never been to Maida Vale

Manky council block on an estate isn’t many people’s idea of desirable.

I take it the OP is a landlord. The property will appeal to another landlord but not sure many people are looking for investment properties at the moment.

It could also maybe appeal to FTB but 550k does buy a private flat in a naice part of London so not sure how many would go for this thing instead.

@Strawberryplum

Wow not being rude here but it looks like something from an Eastern European tower block. I’m in Scotland and you could buy a gorgeous 6 bedroom detached house with that. I’m sorry but I know we’re I’d choose to live. I wouldn’t give even pay half of that for what your asking. I must live in another world. Sorry just my opinion

It's not especially 'pretty' but it's in one of the most gorgeous parts of London...I'd say the location is the main draw.

And if that gorgeous six bed detached house you're talking about was located there, it would cost multi millions.

@Strawberryplum

Wow not being rude here but it looks like something from an Eastern European tower block. I’m in Scotland and you could buy a gorgeous 6 bedroom detached house with that. I’m sorry but I know we’re I’d choose to live. I wouldn’t give even pay half of that for what your asking. I must live in another world. Sorry just my opinion

Well, you do live in another world don't you? Op isn't marketing her flat to someone who wants to live in a 6 bedroom mansion in Scotland is she? Much as she isn't hoping to attract someone who wants to live in a 3 bed semi in Milton Keynes or a penthouse in New York.

I'm not in the UK, but it often makes me smile to hear all the tips. Paint this, move that, change the duvet cover. That flat looks very good to me, and most of the works are just cosmetic, easily done by the buyer if they want it badly enough.

Where I am ROI, most try and make their properties look ok, but don't go for showhome condition either. Very few here would change a kitchen or bathroom, that's for the buyer to do if they want the house, and sales are moving here too.

When our mum passed away we had to sell her house. It had been rented for 12 years, but it was regularly maintained, ie we had gutters cleaned, garden kept nice, painted regularly. The kitchen was old like myself. It sold, honestly within three weeks, but although it needed a bit of updating, it was the location that did it, and we got the Molly Maids and Men in to clean it within an inch of its life when the last tenant left.

Sorry for going on, but it is rare for flats to have ANY outside space. This flat has a balcony. That is a great feature, as is the location.

Might be price and nervousness re Covid. Best of luck OP.

Its so pointless when people come these threads to say bloody hell you could buy a mansion for that where I live!!
London is expensive. People still want to live there!

I think you should spend 10k and redo the kitchen. Remove the furniture and get a dressing agency to put in smaller, light furniture, as yours overwhelms the space. Your customer is prob very stylish wanting to live round there and won’t want pine furniture and cupboards.

You could get the kitchen resprayed for a fraction of the cost of a new kitchen.

It is dated OP.

I think you need to strip out a lot of stuff. Paint white. Paint kitchen cupboards. It looks like a nice flat but needs to be much plainer.

I don't think the ex council thing is a deal breaker, but the price needs to be right.

formerbabe
I’ll take your word from it but the ops asking and I’m just giving my opinion. It’s hideous and I’d rather live elsewhere for that price thank you.

Have you seen this one? Same area, higher spec, cheaper. Might it be that you're still too expensive?

www.rightmove.co.uk/properties/99338429#/floorplan?activePlan=1

I wouldn't spend money on a new kitchen. Much better to leave that choice to the buyer. There's nothing more off-putting than a new and expensive but not-to-my-taste kitchen. But, I'd expect to factor in a drop in price roughly equivalent to a nice new kitchen.

Maybe the re-spray idea would tone it down? Dunno if that's going to be enough for anyone though. Depends whether it's bought to let out or as a home, perhaps.

It's always price at the end of the day.

It does seem like a great deal on paper in terms of size and location , but a bit dull and dated in inspection. I think painting it in neutral colours would be really good.
I wonder is it also the fact that a lot of people who buy in Maida Vale are wealthy, international and are looking for more high end, ready to move in properties.

There also eff all to do in a part of Scotland where you could buy a 6 bed house.

@newgirls dressing agency is a brilliant idea.

Thanks Irish - money well spent to get the swish buyer or the buy to let investor who wants an easy life.