Why do you think this property isn't selling?

[zzuple]

https://www.rightmove.co.uk/properties/156099821#/?channel=RES_BUY

As a Northerner my eyes are watering.

I don’t know OP but commenting as it might boost people looking at your post.

81 year lease? Dated kitchen and bathroom?

Not enough pictures.

Where's the bathroom?

The kitchen needs refitting.

Is that a front door, directly into the bedroom?

It's overpriced.

Price
kitchen

could get a 5 bed detached for that money here 🙈

Obviously the price too, but there are other one bedroom flats for sale in the Barbican for more, so obviously some people will pay that amount.

The building is very unattractive, the kitchen is empty and soulless.

As a Northerner my eyes are bleeding! The mansions you could buy in Yorkshire for that….

I’m assuming it’s yours OP, in which case I hope it sells for you soon.

Tenure: Leasehold Lease Years Remaining: 81
Service Charge: £6,563 (Yearly)

81 year lease which means extension incurs marriage value

So you need to inquire cost of lease extension and add to the price

I’m not sure the original kitchen has anything to write home about. It’s in an ugly block. Usually properties sell if they have furniture in them, because it then gives the room a purpose.

Is it your flat, or are you just astounded at the price and why it’s not selling?

To be fair it’s irrelevant if you can’t get a 5 bed elsewhere. It’s in Barbican in the city of London and I seriously doubt it has the same target audience

I know it's London but that's very expensive for a one bed so that's immediately going to limit the demographic who would spend that on a one bed with the rates on top. I also think the kitchen isn't to my taste for the price tag tbh. It might be nicer in person, but it looks dated at a glance at the pics with limited actual worktop space. No pics of the bathroom which could potentially need work and it's a little hard to work out the layout from the pics. Initially I thought you were coming in through your bedroom until I read through the notes more carefully. I'm not a Londoner so I realise this might just be the going rate now but my point is that only so many people will earn enough to justify it especially if they plan to have a family, its a big price for a temporary home.

Service charge and lease length. Possibly the kitchen which I would absolutely replace to sell

Horrendously overpriced.
Exterior and building it’s based in is horrid.
Kitchen is dated and in need of a refit.
No pictures of bathroom.
No homely feel at all.
First picture was promising, but lost its appeal after this.

It's in the Barbican in Central London!!! Of course it's appropriately priced.

OP, I would buy this in a second if I could afford it but the short lease is the problem. The service charge is also quite eye watering but I assume that's what you get for an institution like this.

Definitely the lease.
ETA and possibly the service charge.

I also agree the main building itself is not nice to look at so the apartment really benefits from the nice furniture in the initial pics to make it look higher end as the actual building gives the opposite impression.

I know the Barbican is very desirable. I used to know someone who lived there, and I worked near there. It’s a great location.
But the lease is too short and the pics make the flat look a little soulless.
And as a PP said, no pic of the bathroom?
And yes, the service charge seems pretty high!

It’s the Barbican. Ugly yes, but famous and won prizes for the architecture, yes. It’s right in the centre of the City so has an appeal of its own as it’s likely walking distance to work for the target demographic

Needs new kitchen and bathroom.

Kitchen looks like a morgue
Sofa and rug looks like a soil spillage occurred
Bleak, grey, dismal.
£800k, 1bed with £6.5k annual service charge and 81 year lease - What's not to love? 😳

Length of lease and service charge

It’s virtually impossible to get a mortgage on a property with an 81 year lease. You would do well to extend the lease to 150 years then re-market

Also OP, those flats, esp the 1 beds are often bought as week day crash pads. I wonder if there’s less demand now people are likely to work more hybrid?

Needs a new kitchen. No bathroom pic. I would get it professionally staged for photos/ viewings and relist when the lease has been extended.

I kinda feel Like you are joking OP. even though some
may feel the location justifies the price!