In response to our clients demands, Harwood is delighted to announce that it has established a bespoke Country House division – focusing solely on country acquisitions, with a special focus on the South West of England.
Sincere thanks to PrimeResi Journal for featuring the news – which we are all incredibly excited to share.
Harwood Advisory has, since its inception, dipped its toe in the country market and has been privileged to source some exceptional properties for clients in this time.
With her 18 years experience in both London and the Country, Susannah Fox MRICS will be heading up our new offering following her move to the South West. Being a Chartered Surveyor, she brings an exceptionally professional eye to a property search.
Alongside her, we are thrilled to welcome Claire Clark to the team.
Claire has over 10 years of property experience and has been most recently raising her three children and building an unenviable knowledge of the local area, which she brings to the team along with her discerning eye for detail and an incredibly calm approach.
Please contact us if we can help with any of your property requirements in the South West!
Let’s talk Capital Gains Tax….
Because, quite frankly, everyone else is.
We’re currently representing the owners of an incredible super-prime property, soon to be coming on the market in excess of £20m.
Having been in the family for 40 years, there is a genuine concern that they are facing a huge bill if the new Labour Government double the CGT rate in the upcoming Autumn budget as is widely anticipated.
If they do decide to align CGT rates with income tax rates, particularly for higher and additional-rate taxpayers, this could mean an increase from the current 20% figure to as much as 40% or 45%, depending on their income bracket.
Some property owners may rush to sell assets before the rate increase takes effect – to lock in gains at the lower tax rate. This could lead to a short-term surge in sales, potentially affecting stock prices, property markets, and other capital assets.
Having taken advice from the peerless Denny Carr at Honey Barratt, it is clear that the critical point in all of this will be the CGT Trigger Point for the sale of UK residential properties, which are not the main home.
>> For CGT purposes, the key date to be aware of is the exchange of contracts, not the completion date. This is when the beneficial ownership of the property transfers, and it’s the point at which the CGT liability is triggered.
>> The CGT reporting and payment for residential properties must be completed within 60 days of the property’s completion date.
>> Any sale subject to conditions, such as planning permission, will only trigger CGT once the condition is fulfilled.
>> For people who are registered for self-assessment, they must also include the gain in their next self-assessment tax return, in addition to the 60-day reporting requirement.
Timing really will be of the essence. And many nerves will be frayed in the process.
Ultimately – while the intention behind raising CGT may be to boost revenue and promote fairness, it could lead to unintended economic consequences. The UK may become a less attractive destination for international investors. Wealthy individuals or businesses may also relocate their capital or operations to jurisdictions with more favourable tax regimes, leading to capital outflows from the UK and lower long-term tax revenues.
The next few months are certainly going to be interesting. As ever, learning from others gives us confidence and clarity. So please do share your thoughts to help us all be as prepared as possible.
Summer is coming to an end. The new school year begins. Everyday life returns to some sense of normality. Business trips increase as people resume regular travel schedules.
It is the time when there is a noticeable upturn in property transactions, particularly in prime areas. Families often use the summer months to relocate, and the return to school marks a period of increased activity in the property market. According to Savills, September is when the prime property market in London often sees a surge in viewings and offers as families settle into new homes.
With property considerations – timing is vital. Which is why we are delighted to showcase four of the most exceptional properties that we have ever had the privilege of bringing to the market.
All totally unique, yet each possessing an abundance of space, light, privacy and supreme quality.
Academy Gardens >> one of the best flats ever come to the market, 4,200 sq.ft of space with a main reception room of 1,500 sq.ft and ceiling heights in excess of 4m. This was the original show flat in Academy, and is the first time this particular apartment has sought new owners in over 20 years.
Young Street >> a superb three bedroom, fifth floor apartment measuring 1,432 sq.ft – with an impressive 240 sq.ft west-facing terrace, situated in a prime development just south of Kensington High Street – equidistant to one of London’s oldest residential squares and one of London’s favourite high streets.
St. James’s Place >> at almost 3,000 sq.ft, this spacious three-bedroom lateral apartment, boasts a large west-facing roof terrace with stunning, unincumbered views over Green Park and beyond. Nestled in the heart of St.James’s, it is in walking distance of some of London’s most iconic places – The Ritz, St James’s Park, Stafford & Dukes, Berry Brothers & Rudd – and the legendary Wiltons restaurant.
Bedford Gardens >> a beautiful Grade II listed family home with south facing garden, situated on a prestigious, tree-lined street in the heart of Kensington. Measuring approximately 2,150 sq.ft, the elegantly fronted house is set back from the road by a large front garden – and yet close to Notting Hill Gate and High Street Kensington.
For more information, or to arrange a viewing at any of these incredible homes – then please contact Sami Robertson or Ollie Blakelock.
By Sami Robertson, Founding Director of Harwood Advisory
The Olympics have been in my blood all my life. My passion for swimming ingrained into me since childhood.
My Great Grandmother, Alice ‘Nanty’ Ayres was an Essex swimming champion. Living to the ripe old age of 104, her stories ignited my interest, love, and dedication to open water swimming.
My Great Grandfather, William Benjamin Lovely, was the coach of the GB Water Polo Team as London hosted the XIV Olympiad in 1948. As well as the 1952 Olympics in Helsinki.
Bill (who we affectionately called Bubups) represented England as a player – and as captain between 1927-29. After retiring, he became Chief Coach of the GB team. Earlier in his swimming career, Bill had been one of five to form the inaugural water polo committee for the Amateur Swimming Association.
He played for and captained Plaistow United, arguably England’s best water polo club of his generation. He was a teammate and friend of Ted Temme, the famous English Channel and Olympic swimmer – who became the first to successfully complete a solo swim of the English Channel both ways, from England, and from France.
A respected athlete and revered mentor, Bill gave everything to further the sport of water polo across the British Isles. He even wrote the rule book. And given that it has been described as ‘the world’s toughest team sport’, those rules were vital.
Sadly, I never got to meet this legend. A few months after retiring as England coach due to ill-health, he passed away at the impossibly young age of 53 on 16 July 1953, whilst on holiday on the Isle of Wight.
His words of wisdom, however, live on – and are still incredibly relevant to this day. They are words that I live by, and share with my own children as they embrace their own sporting passions:
“Whilst it must be conceded that the objective is a good game, there is firmly implanted in every player a desire to be on the winning side. Desire is one thing and Resolve is another.” Bill Lovely
I’ve said many times that swimming has given me so much. It has ultimately shaped the values that I hold dear, and on which I have built Harwood Advisory. The bond between swimmers is so strong. It has built some lifelong friendships – some of which have become longstanding clients, having experienced some wonderful moments together. For that, I will always hold these family pictures close – along with my very own Olympic Water Polo hero.
Join our Founding Director, Sami Robertson, on a tour of his favourite spots in the picturesque Holland Park, Kensington. This charming area is not just a haven for nature lovers but also a cultural and culinary delight.
Serene Gardens and Scenic Streets
First on Sami’s list is the tranquil Kyoto Garden. This beautiful Japanese garden is a peaceful escape from the city’s hustle and bustle, with its stunning waterfall, serene ponds, and vibrant flora. It’s a perfect spot for a leisurely stroll or quiet contemplation.
Not far from there, you can wander down Merlbury Road, known for its charming architecture and serene atmosphere, or explore the blend of historical charm and modern amenities.
Quaint Walkways and Elegant Residences
Next, take a stroll down Kensington Church Walk. These areas reveal a mix of upscale residences and vibrant city life, lined with boutique shops and quaint cafes. Phillimore Gardens and Bedford Gardens also showcase the elegant homes and lush greenery that Kensington is known for.
Delightful Dining and Gourmet Shopping
For a cosy spot to enjoy a coffee or a light meal, Sami recommends Café Phillies. This local favourite offers a welcoming atmosphere and delicious menu options. If you’re in the mood for something delicious, head to Kitchen W8. Whole Foods Market is also a must-visit for anyone wanting to grab a healthy snack or stock up on high-quality groceries.
Luxurious Living in Kensington
Essex Villas, Academy Gardens, Thornwood Gardens and Holland Park Villas are perfect examples of the luxurious residential areas in Kensington. These spots epitomise the elegance and exclusivity of the neighbourhood.
Be sure to watch Sami’s video for an insider’s tour of Holland Park, Kensington, and discover even more hidden gems. Happy exploring!
Looking for a Property in Kensington?
If you’re enchanted by the charm of Kensington and looking for a property in or around the area, be sure to check out our latest listings. We have a range of beautiful properties that might just be your next dream home.
Explore Properties in Kensington
“Let’s all move to Monaco or Jersey…”
….so say literally 90% of the clients we speak to – if the new Labour government pushes through with plans to abolish the non-dom tax status entirely.
Labour say that the current measures are too lenient and leave room for loopholes, and that their new policies will raise an additional £3.2 billion annually.
The manifesto specifies that non-doms will no longer benefit from the remittance basis, which allows them to avoid UK taxes on foreign income. And quite critically, they also plan to bring offshore trusts within the scope of inheritance tax, regardless of when the trusts were established.
But this £3.2 billion is somewhat of a smokescreen.
It’s a figure that won’t be achieved for one simple reason – those wealthy individuals will just leave the UK, significantly reducing the overall tax revenue. And when they do, it will have a huge knock on effect. Not only to the property market, but to industry, education, hospitality, and many more.
And let’s not forget that the additional revenue from these tax changes – to fund public services like the NHS and education – is central to Labour’s policy platform.
Last year, a non-dom paid £665m income tax and on average, non-doms pay 10 times as much as the average tax bill, approx £170k. It beggars belief why any government would want to disincentivise this kind of revenue topping up their depleted coffers. You can buy a lot of ambulances with £665m!
We’ve heard from a private banker whose firm had 9,000 calls from clients thinking about moving abroad after hearing the news. A staggering number.
The Institute of Fiscal Studies have emphasised the need for more detailed plans to ensure these measures don’t negatively impact the UK’s attractiveness for investment.
Financial advisers that we’ve spoken to are worried about the transitional provisions and the impact on existing non-doms. Without knowing the full details of Labours plans, there is genuine fear that people will rush into making decisions around their location and finances – hoping to mitigate the impact of the proposed changes.
Our friend Tim Searle TEP – a leading tax and insurance advisor based in Dubai – has these words of advice for anyone looking to jump quickly:
“It’s important for non-dom investors to understand their position now and what it is likely to be post election with little time left before April ‘25 if any significant protection or restructuring is to be implemented. It is evident that this is a serious fiscal cat among the pigeons and advisory are likely to be swamped if it is left to the last minute. Clients need to engage their tax advisory, realtor, lawyer, fiduciary and insurance specialists to secure a clear way forward.”
Everyone’s talking about Daniel Daggers. But most people are missing the point.
Buying London. The new Netflix show about super prime agency DDRE Global, described as ‘probably the most hateable TV show ever made’ by one British newspaper.
It seems like the entire property industry has an opinion about it.
But the vast majority of comments seem to focus purely on the UK perception and viewpoint.
This show is made primarily for an international audience, not a UK one. It’s focus is to appeal to people that are interested in the super prime London property market – in the same way that they did with Selling Sunset in LA (made by the same producers). It’s why every location is crudely signposted with street signs and maps to make it abundantly clear where it sits in relation to the centre of London.
And so it opens DDRE up to a huge new potential global client base.
Without spending vast sums on paid media and advertising.
Unlike the vast majority of the prime property industry, Danny understands the vital importance that a strong brand, astute marketing strategy and high quality social media content plays in building a business. In reaching the right people. In creating awareness. In selling the dream.
That’s why his team (that clearly love him) isn’t just made up of Advisors. There’s also a diverse group of Content Creators. Videographers. Broadcasters. Social Media & Marketing Managers. It’s a structure more akin to a luxury goods brand – and it stands apart from the traditional property agency approach. It’s why the new boutique advisory firms like Harwood and DDRE are stealing a march on the more established players.
Harwood Advisory have done our own international deals – particularly in the US, working alongside key local agents that we know and trust incredibly well. Building and nurturing those relationships takes time. I worked with Danny for over a decade at Knight Frank. We grew up in the industry together.
I have a huge amount of respect for him and all that he has built since then. I’m certain that he won’t care in the slightest about most of the people in the UK passing comment about his team. In fact, he’ll be revelling in it. The world has become smaller. Everyone is interconnected. And whether a reaction is positive or negative, all this publicity can only be a good thing. Hats off to Danny for doing something that’s never been done before. Pushing the envelope is sometimes uncomfortable, but necessary in order to move an industry on.
Onwards and upwards.
Watch our video below for a sneak peak of the views from the best penthouses in W8.
Sitting atop the highly sought after Sheffield Terrace, Academy Gardens and Thornwood Lodge in The Royal Borough of Kensington & Chelsea.
All incredibly different, with their own unique qualities and history. Each boasting over 4,500 sq.ft of lateral living. With the most phenomenal views, and bathed in natural light.
Harwood are very proud to have these mandates, not least because we get to soak in the views that very few people are privileged to see.
By all means get in touch with Sami Robertson, Ollie Blakelock or Anna Lazenbury to find out more, or arrange a viewing.