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Under the skin of the letting market

Here we share news and views on both the local letting market in & around Oxfordshire and all planned and recent legislation.

360° Service throughout 2021

As we approach the end of the year we wanted to reflect on an ongoing project that represents our 360° service in action.

Our Central Oxford team had let and managed a block of 10 apartments in Oxford city centre for more than 20 years. Towards the end of 2020, the owners told us of their plans to sell the whole block. Their Property Manager referred them to Inspired Sales and Acquisitions, our sales and investment specialists whose expertise lies in matching up landlords who want to sell with investors looking for proven investment opportunities.

A block of 10 apartments is not a typical sale that you just list on the portals and wait for a call! So the Inspired team proactively targeted their marketing to individuals and organisations that might be interested in acquiring this small development. The block was listed with a guide price of £3.3m and the team received multiple calls expressing interest. The sale went to ‘best and final’ offers and was tied up in early 2021.

The new owners were keen to continue working with Finders Keepers to let and manage the block, and they put the phased upgrade work out to tender. Bricks and Mortar and Decorum Interiors – our building and furnishing divisions – submitted quotes and have been thrilled to win the business for the first four apartments. Throughout 2021 they have been busy upgrading four of the properties, each with its own individual style.

The most recent completion was apartment 10: a spacious split-level one bedroom apartment which has a private balcony off of the living room and additional balcony with rooftop views. The project involved extensive renovation throughout, with Bricks & Mortar upgrading the kitchen and bathroom, and redecorating throughout and Decorum Interiors installing new furniture and lighting. The end result was a real transformation from a dated and gloomy apartment to a modern and stylish home combining dark features with light wood throughout.

The upgrade project started when the previous tenancy came to an end in September, with Bricks and Mortar working closely with Decorum Interiors not only to ensure the final look came together, but to dovetail all works and installations ready for the completion date. The lettings team in Central Oxford marketed the property before the works completed and secured a let – at a 39% rent increase on the previous tenancy – ready to move in in November.

Investment – Building & Renovation – Furnishing – Letting – Management – Sales

If you think you could benefit from our full 360° service (or even part of it), call 01865 311011.