The Continuing Need for Discreet, Independent Advice
Dear <<First Name>>
For this November issue of our newsletter, I had the pleasure of interviewing Charles McDowell, one of London’s leading independent agents for top end Prime Central London properties.
|
|
Charles established his specialist agency, Charles McDowell Properties, in 2001. We have worked together countless times throughout the last 12 years or so. He and his team provide a highly personalised and extremely discreet real estate service for his clients from around the world as well as within the UK.
Charles’ knowledge and insight into the super prime property market in central London are second to none. So, I have great pleasure in sharing his expert views here with you.
Best wishes,
|
|
|
The Continuing Need for Discreet, Independent Advice
Please share a bit about your background and how you ventured into property.
My first job straight after school was in the House of Commons. Wanting to be an estate agent, and having accumulated a good database of contacts, I wrote to Alan Russell asking if I could work in the property business with him and spent nearly ten years with Alan; he is one of the great agents with great people skills, understanding what people want. I learnt a lot from him.
Leaving in 2001, I then set up Charles McDowell Properties. As the Americans say, “your network is your net worth”, so I used the network I’d grown in various businesses to buy and sell London properties.
Have you noticed a change in your clients over time? I believe they were from the UK initially but are now more international?
Around 60% of our buyers are foreign. They love the UK; our education is an important part of the dynamic, as are our laws. I think we undersell ourselves having a lot of things other countries don’t, and that’s why people buy here, especially London. It offers a lot in comparison to other cities around the world.
Has the current situation affected your clients’ perception of London?
Yes, we have a few clients who want to visit London but can’t because of quarantine. It’s not going to get any easier this year. But we are still busy with people looking to buy even without a fully functional market yet.
How do you think things will change in the future? You mentioned there being a lot of independent practices opening.
I think we are going to see more people going it alone. The big firms will occupy the mass market while also contracting their private offices to create a bit of blue-sky business between their volume and top end operations. But I think we will see many more individuals being like the American system of a single realtor. What I fear most is increasing regulation, which won’t protect people any more than it does now.
We need to try and get wealthy people back to the UK – we are an island, we thrive on foreign investment and foreign input and we need to encourage that, especially now with Brexit.
There are implications in terms of personal security and other issues – a legitimate concern if you come from a difficult political regime.
That’s another reason why a lot of people use agencies like ours. We go to a lot of trouble to comply with everything. People get more discretion than they might elsewhere and value that we protect their identities.
If you had between £3 and £15 million to spend, what would be top of your property list?
First, a beautiful house in the Cotswolds, Oxfordshire or the Home Counties. Then I would buy a lateral flat in London and probably something in America. The London flat would be in Cadogan Square, Cadogan Gardens – I love it all around there. You’re near Peter Jones, Sloane Square and Knightsbridge. The Cadogan Estate has done a fantastic job with Pavilion Road and around the partially pedestrianised Eaton Square, and the Grosvenor Estate has done equally well with Elizabeth Street, all being brought up to an international standard.
For a full copy of the interview, please get in touch with Justin. If you have any questions for Charles, do contact him on either 020 3551 2545 or charles@mcdowellproperties.co.uk.
|
|
Look Out for our Next Quarterly Independent Research Report
Since announcing that we had commissioned an independent research report, the next Justin Mason Valuation Consultancy Prime Central London Update is about to be published.
Containing a market commentary that presents the story so far, the research report will help your decision-making process and prepare you for the valuation.
If you would like any further information about our research, or would like to discuss how we can help you in any other aspect, do please contact Justin Mason on either 020 3409 0894 or by emailing justin@justinmasonvaluation.com
|
|
|
|
