A cautionary tale from Clerkenwell

Buying agency reports snapping up investment property for £70,000 less than the seller acquired it for six months earlier

Jo Eccles’ buying agency Sourcing Property has just demonstrated there’s some cracking deals to be had out there right now, if you know what you’re doing..

Engaged by a Jersey Trustee to advise one of its clients on buying a long-term, yield-driven investment property in Clerkenwell, the acquisition firm secured an apartment for £70,000 less than the current owner had paid just six months earlier.

Considered the best long-term option out of the three suitable propositions unearthed by the team, it was also the cheapest, and the firm has now been retained to oversee the rental process.

Good news for both agent and client, but perhaps most importantly a reminder of the need for extra caution when buying in the current market.