Remarkably, it’s ten years since we set up Nicolas Van Patrick (write Nicolas Pejacsevich and Patrick Alvarado) and given how difficult the market has been during this time, there is plenty to celebrate. It’s been a fantastic ride and great to be on that journey together. But while we’ve had fun, it’s not been plain sailing and probably fair to say we’ve experienced the hardest market any agent of our age has seen.

However, while 2014 to 2024 were tough for the Knightsbridge property market and prime central London more generally, setting up our own company was the best possible decision we could have made. The other smart move was taking on a partner, and even better, we were blessed to choose one who would let us be ourselves and never put us under pressure.

Back in 2013, we were working for Douglas & Gordon in Chelsea but were no longer enamoured of the business. We were high earners, but such is the nature of large corporates we were also heading for 50 and would likely be the first to be let go if things got tough, with nothing to show for it. We’d been contemplating setting up our own agency for a while, but it was over coffee in Baker & Spice on Milner Street that we realised we already knew someone we could ask for advice. Nic had an existing relationship with John Fentener Van Vlissingen as he’d bought properties for him previously, so we decided to ask him what he thought. After Nic’s visit just before Christmas 2013, Mr Van Vlissengen suggested we go into business together and NVP launched in September 2014.

In the ten years since, much has happened. No sooner had the two of us, plus a secretary and Jenny, who worked for Mr Van Vlissengen’s family office helping manage his portfolio, opened our original office with 13 properties to manage and five to sell, George Osborne overhauled stamp duty, to devastating effect. As the sales market grew increasingly challenging, we looked at lettings for a more stable income revenue and after discussing it with Mr Van Vlissingen we decided to grow our lettings portfolio via acquisitions.

During those early years, we would admire our neighbours, Hobart Slater, an agency established in Knightsbridge 30 years previously who had the area pretty much wrapped up. We approached them about buying the business but were refused initially; however, by 2018 they were open to selling, so we took on their premises and rental book and our business continued to grow.

The purchase of Hobart Slater propelled NVP forwards and was our third crucial step (after starting NVP and partnering with Mr Van Vlissengen). It enabled us to survive Covid without financial assistance. Enlarged premises on Montpelier Street also gave us space for another acquisition which we achieved this year with the purchase of HLR. This is a great addition to NVP, enabling us to extend our reach into Chelsea, with two new staff members from HLR’s team who are already well integrated. As well as absorbing rental books along the way, we have also created a block management division from scratch, although everyone tried to put us off, warning us about the paperwork and regulation involved. Yet in seven years, this has grown to 250 units under management.

The past decade has been one of huge change. London has seen a significant exodus of people with money, owing to high taxation, Brexit, changes to non-domiciled status and potentially more to come in what is feared to be a punitive Budget. Ten years ago, every UHNW individual wanted a piece of London property, but now they go elsewhere – Italy, Portugal, Monaco, Dubai, Switzerland.

Not everyone likes what we have to say but we are true to ourselves, even if it doesn’t always get us the instruction

We have had to pivot accordingly. When we started NVP, our backgrounds and area of expertise were strongly in sales. But while rentals were on the backburner, this has fundamentally changed, and we have altered with it. We are now a well-rounded agency with a strong rental emphasis. We may be relatively small in the scheme of things but we are nimble. We have the time to give real advice – not everyone likes what we have to say but we are true to ourselves, even if it doesn’t always get us the instruction.

While the market is challenging, we have never lost our enthusiasm. To come into the office every day and be surrounded by people we like working with, backed by the partnership – now with Mr Van Vlissengen’s family office – feels a very lucky place to be. We look forward to seeing how NVP evolves over the next decade.