London flat sale oils sales chain
SOME lateral thinking was required to sell Epwell Grounds, Banbury, recently, which was on the market with FPDSavills and Clayson Haslewood.
"The majority of farm sales are not subject to the chains that often delay residential transactions," says Will Naylor, of Savills Banbury office. But in this case, the disposal of the main lot of the 544-acre arable farm, priced at £2.44m for the whole, depended on a series of deals all hinging on the sale of a London flat struggling to sell.
Because the vendors of Epwell were emigrating to New Zealand they decided to speed up the process by buying the flat, therefore enabling the whole chain to proceed and their farm to be sold. The house will be rented or sold later when the London property market is stronger.
"While it would not normally be in the vendors interests to break the chain this way, difficult market conditions make it necessary to consider all possibilities," says the chartered surveyor. *