The imminent opening of a new upmarket agent is causing ripples in the super-wealthy estate agency market.
The business, which opens on October 3, is being backed by an un-named ultra-rich former client and is offering 0% commission on the first 50 sales instructions.
Wilfords London will focus on the sales and lettings of luxury London homes, but also plush country houses and some international development.
The business is founded by Geoff Wilford who has worked for Foxtons, Hamptons and Knight Frank, whilst also having sold private Barbados residencies to high net worth individuals and celebrities such as Simon Cowell, Eddie Jordan and Lord Andrew Lloyd Webber.
One former client is said to have been so impressed with Wilford’s professional acumen and ambition that he became Wilfords London’s principal financial backer.
The lettings side will be managed by Simon Welfare, who was previously head of several lettings departments at Foxtons.
The firm also offers an architectural service via Bríd Carr Architecture, who are on hand to advise on alterations and planning, as well as available to manage projects on behalf of the buyer.
The Wilfords London portfolio already includes multi-million pound properties across Kensington and Chelsea.
The opening of the business comes after Savills reported that London is the fourth most expensive city in the world to buy a home.
For more information please visit www.wilfords.com
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Comments
david: "the financial backer spotted that london was the fourth most OVERPRICED country in the world."
Erm... I think you will find that London is a CITY, not country...
"In toyko when the similar bubble burst in 1991 some prime tokyo property dropped 90-99%
google it if you don't believe me.
even 20 years later property in japan is still 40% less in actual terms than 1991"
No denying that - but what you FAIL to mention is that Tokyo is STILL the second most expensive city (after Hong Kong) in the world for 'billionaire homes', to which this article is targeted. London - you know... the CITY -is fourth, with Paris squeezing third.
You are able to buy nearly twice the size property in London as Tokyo for the same money.
rant - the Tokyo 20-year crash is another of your pet loves. Care to comment, mon ami? ;o)
E43 million knocked off Irelands most expensive house
http://www.guardian.co.uk/business/ireland-business-blog-with-lisa-ocarroll/2011/sep/22/ireland-most-expensive-house-walford
Interesting article from MoneyWeek about how the current Euro debt crisis could bring UK house prices down.
http://www.moneyweek.com/investments/property/uk/how-panic-in-europe-could-hurt-uk-house-prices-13901
In summary, the BoE rate has been less significant than LIBOR for a while now. A second (or rather a return to the original) credit crunch could see mortgage rates reverse their recent downward trend.
wow chris you really add to the debate on this blogg
if only we had your foresight and analytic skills
David, the good lord has let you remain on this planet far to long.
Trust me, the EAs can easily spend 75% of there day "blogging" from the office toilet and they still wouldnt get all the bitter and twistedness out of thier system.
If only you had the money and the balls eh. You would'nt be sat in your office toilets.
most of london is pretty dire and a hotbed of crime.
central london seems occupied by sons of dictators and failed bankers.
It looks like these idiots are about to do the same thing all over again but 10 x worse and this time no-one will bail them out ala ireland.
as said before toyko prices fell 90-99% and general property is still 40% less in actual terms than 1991.All these loans are on banks balance sheets and is about to bring them to their knees as uk property prices plunge
I hav been shorting banks this year and selling puts on houseprices.
good luck if you are optimistic,but this country including london is basically bust
I am glad I am not going to be seeing David over the weekend, what fun that would be!
London is London. You don't leave there unless you are making some serious bunse. It is its own economy. A lot of the out of towners will never grasp that. To Joe Bloggs in Doncaster, £15m for a 2 bed flat is uncomprehendable.
As for the London crash....Aeroplanes fall out of the sky, it doesn't mean the next one will as well. If my aunty had a set, she would be my uncle.
DOOM, DOOM AND MORE DOOM. If an area is prosperous...still spread some DOOM and hope we get DOOM!!! Cheer up son.
I've owned many houses since 1988 now with no mortgage.
the current insanity was bailed out by hmg using low interest rates,this has stopped my kids and their friends buying a stake in society.
This is unsustainable shift of wealth and we need to rely on our kids to grow the economy
eventually rates will rise and thickos with 'buy to let portfolios' will be bankrupted and rightly so
anyone who bought a property 'for investment' after 2005 has been lucky not clever
David, the good lord has let you remain on this planet far to long.
Trust me, the HPCers can easily spend 75% of there day "blogging" from their mum and dads spare room and they still wouldnt get all the bitter and twistedness out of thier system.
If only you had the money and the balls eh. You would'nt be sat in your parents box room.
It's working well in Burnley I hear?
I think during tulips from amsterdam madness,a board of directors spent a whole board meeting discussing the structure of a fresh tulip on the board table.
trust me,the london housing market coud easily fall 75% and still be grossley overpriced.
perhaps it would be prudent to open an office in lybia or the like to connect with the best customers
Whilst I wish Wilfords every success if I were going to sell my £15m studio flat in Kensington Im not sure id give it to an agent who had no incentive to sell my flat but would instead be looking for instruction no51 where he would at least earn a fee. Why dont they go down the £495 including EPC route (obviously im be facetious).
What 'ripples' has it caused?
David: London is the fourth most overpriced country in the world? or expensive city?
and the random post about not being able to gain any instructions before you open your doors, really? Is that how a business operates, open the doors without a client or product to sell??
"The Wilfords London portfolio already includes multi-million pound properties across Kensington and Chelsea" - how? It isn't even open yet - as quoted by their own website (which isn't even listed on google).
Once again, did EAT even bother to check it out, or do they just print everything that is sent to them??
Well Done Geoff and Good Luck..
the financial backer spotted that london was the fourth most OVERPRICED country in the world.
In toyko when the similar bubble burst in 1991 some prime tokyo property dropped 90-99%
google it if you don't believe me.
even 20 years later property in japan is still 40% less in actual terms than 1991
bit late to the party