Mining for Cambridge Gems

Proximity to the private schools and travel hubs are key factors when seeking high-end houses.  Cambridge city, like most major cities, has defined but limited premium family house ‘zones’, which for the buyer can mean a very competitive and stressful buying process.  The need for local knowledge and guidance becomes essential, particularly when the supply of suitable homes is short.

The Brief

Having relocated to Cambridge several years ago and, having bought a conveniently located interim property in Cambridge city, Mr and Mrs LR had been seeking their ‘dream home’ for some time.  Their search had taken them around a variety of options in both the country and the city.  We recognised that their search brief needed fine-tuning and so our initial meetings were focused on understanding the family’s lifestyle and priorities.  A brief was agreed after it became clear that the key considerations were the children’s proximity to their respective Cambridge schools and easy access to the railway station for Mr LR’s commute.  Our clients sought a characterful, large family home set in spacious grounds.  Although unafraid of a major refurbishment project, there had to be the potential for the appropriate uplift in monetary value.

The Search

Our clients told us that they had ‘almost purchased’ in the country and had found houses that really appealed to them.  However, when it came to the commitment to buy, they found that living out of the city made them nervous about the potentially compromised quality of life, which would involve the intrusion of daily commutes for all the family.  We recognised their need for a ‘country feel’ and so steered our search towards the leafy, attractive roads where older houses sit on larger plots with mature, established gardens.  We viewed several properties together and as a result, the search was narrowed to a small number of roads, which we ordered by preference.  In collaboration with our network of property professionals, we worked at finding an opportunity in their preferred situation.  In time, a very suitable property became available off- market.  An early viewing was arranged and knowing our clients’ situation well, we were able to position them favourably with the vendors as highly motivated purchasers.   The rest, we might have said, was history but it was not that simple.  With one other purchaser in the frame, the process went to sealed bids, our guidance ensured that our clients won the tender.  Following the building survey, in discussion with our clients, we then renegotiated the price for a considerable reduction due to unforeseen issues. Needless to say, our clients were pleased with the outcome.

The Value

Our journey with Mr and Mrs LR began in February, traditionally a time when the property market gears up for the spring awakening.  However, in the post-Brexit economy, many prospective vendors were reticent to bring their ‘gems’ to the market, unsure of how it would fare at that time.  As such, for the vendors, the attractive option is often to invite a few discreet and serious purchasers to consider their property.  This is where we add value, bringing our expertise and contacts together to find such hidden gems, when it might have seemed an impossibility.