Why do you think this property isn't selling?

[zzuple]

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

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

Well it's already been reduced and still not selling...

81 years left on lease = less than a year before it gets seriously expensive to extend (I know the estate agent description says "lease being extended" but what stage of the process (which can take months) is it at?

6k+ service charge seems astronomical even for central London

It says the lease is being extended, but not by whom.

The service charge is over £6.5K per year, which is over £500 per month.

Couldn't see the bathroom, the kitchen is dated, the building looks soulless and the outside doesn’t look well maintained, which doesn’t bode well for the common parts.

Why only 7 photos, 2 of which are outside.Kitchen is awful-sorry

• Lease length - this is the killer
• original kitchen but no other original features means it’s just a dated kitchen to replace
• it’s empty when people view it because the pictures are AI
• heavily, heavily compromised by London wall west - it’s going to have panoramic views of building works for ten years
• service charges are high (but that wouldn’t explain it not selling relative to others in the Barbican that do sell)

My parents had a kitchen like that (but in green) that was put in their house when it was built in 1977. It looks more like the type you’d find in a student halls to me than in a London flat. It doesn’t seem to go with the overall feel & lifestyle that you are presumably trying to present.

The Barbican is a very desirable and iconic Brutalist location, might be eye watering to non Londoners but it's a unique location and very sought after.
. The short lease will be the issue, the other ones that have sold for the same or ever more have extended leases. Isn't a short lease almost impossible to mortgage.

There's no use asking people outside of London what they think. As others have said, it's probably the short lease.

The pics of the empty rooms are very off putting. The kitchen looks terrible

Are they actually selling for that though? There can be a big difference between what people ask and what they get.

(Not saying they are or they aren’t as don’t have enough knowledge of that area. But it’s a consideration).

Exterior area (balcony and structure directy above) look neglected. It would make me anticipate a hefty bill for external repairs and decorations in the near future. I'd be deterred as I'd expect some decent maintenance for that service charge.
Also lease length. No pic of bathroom.
The floor plan shows the reception room having two areas - designate one a dining area/work studio?

You are selling (if its you) to a restricted pool

Not many people love the Barbican architecture. Because its horrible

Expensive leasehold service charges
Short lease
Ugly kitchen
Messy looking balcony
Barely any pictures
Looks as if the bedroom opens with the front door (it doesnt)
Mortgage issues (although someone buying that is not likely to need a mortgage)

I love the Barbican. I thought these flats got snapped up. People saying the kitchen is dated etc obviously don't get it but I'm sure it will sell assuming it's priced in line with other flats in the Barbican?

I googled Brooke Marine kitchens after reading the full description - the pics online look good but unfortunately the one in the particulars just looks old and battered. I’m assuming the original bathroom isn’t a great selling point 50 years on given there’s no picture.

Eye watering cost for such a small space. Terrible pics of the kitchen and outside balcony bit.

Not enough good photos

Wow I would love to live in the Barbican, I love your place OP. it’s just about £200k out of my price range 😭

Lease length
No bathroom pictures

Another 1 bed sold for over 900k this year so I don't necessarily think it's the price.

Because it's a leasehold with very low number of years left on it and leasehold would be very expensive to extend. The service charge is crazy high too. It's also ridiculous money for a 1 bed flat. I can buy a 4-5 bed house with large garden for that amount of money less than an hour from London in an area with good schools. Why would anyone bother spending that amount of money on a 1 bed flat?

The grotty dark kitchen.

Because people that love the Barbican, really love the Barbican

And to be fair to the OP, the ad on rightmove does clearly state the lease is being extended so it shouldnt be an issue. Perhaps it should go on the market once that is all done

The lease needs extending before it goes on the market - nobody will be interested at 81 years. Or else the price needs reducing to make up for it.
It's a nice flat in a great location, but apparently it's got much harder to sell any kind of flat these days.

I can’t stand when people say ‘I could buy a mansion in (insert random town) for that’. So? I would never dream of seeing someone’s house in a nondescript location and saying ‘I could buy a flat in central London for that!

The building looks like one of those ugly 1970s block of flats where all the undesirables used to be dumped. I just couldn't get past that. Needs dressing up a lot inside to make it look homely. But I would say the biggest issue is the short lease remaining.

The price is already about 200k less than comparable flats with longer leases.

Perhaps these flats are not very popular at the moment, then. I had a friend who lived in one and he was happy there, but the architecture was a bit soulless and he had to pay a huge extra service charge when the lift broke, even though he lived on the ground floor and never used the lift.