The £2m London apartment that’s a prize draw

South Ken

You could become the proud owner of a £2 million London apartment in a prize draw that costs just a tenner a ticket.

Gatsby Property is raffling off a luxury renovated flat on Exhibition Road in South Kensington, with entries expected to close in June 2019.

The two founders of Gatsby Property – Harry Dee and Jonny Jackson – have been developing properties in London for five years.

Gap in the market

With sales in the capital starting to stutter thanks to a glut of properties on the market and affordability issues for potential buyers, the duo decided to take a different approach to offloading their latest project.

Jonny Jackson told the Evening Standard: “We felt like there was a real gap in the market at the top end, and our aim was to put our money where our mouth is and raffle off one of our own newly refurbished apartments in one of the capital’s most sought-after locations.”

Tickets are expected to go on sale imminently on Gatsby Property‘s dedicated payment platform Cadivus, priced at £10.

High-end refurbishment

The property itself is located opposite the Science Museum in South Kensington, close to Hyde Park and the V&A.

Having been completely refurbished from top to toe, the apartment has an open-plan living/cooking/dining space with a modern, en-suite master bedroom. The fixtures and fittings are from high end manufacturers and designers such as Camerich, Fired Earth, Lefroy Brooks and Buster & Punch.

Legal costs covered

In the prize draw, the developers will pay both stamp duty and legal fees, along with the first year of the service charge. The property is leasehold with 964 years remaining on the lease.

Once the draw is closed on a date yet to be decided, the winner will be drawn at random by compliance service Promo Veritas.

A minimum of 300,000 tickets need to be sold for the draw to go ahead. If that number is not reached, the winner will receive a cash prize instead.

About the Author Frances Traynor

Fran is the content writer for Capital Conveyancing, producing articles on all aspects of the conveyancing process and around the UK property market in general. If there is a topic you'd like to see covered on these pages, please drop Fran a line on [email protected]

Leave a Comment: