After encountering difficulty in selling a large three-bedroom apartment in Canary Wharf, an overseas owner turned to AZ Real Estate for a new perspective. A previous offer had dragged on for several months but ultimately failed to exchange.

Located on the 40th floor of Pan Peninsula, the 179 sq m apartment offered exceptional views across London, generous living space and access to premium facilities. However, despite reducing the asking price significantly from the original purchase price to approximately £1 million, finding the right buyer had proven difficult.

While the apartment offered strong value for its size and location, one major challenge remained: the annual service charge of approximately £30,000. Although many prospective buyers initially responded positively to the apartment itself, the ongoing costs often became a sticking point.

Having already relocated abroad, the owner was increasingly eager to move on from a property that had become expensive and difficult to maintain from overseas. Recognising these challenges, AZ Real Estate adjusted its approach, focusing on buyers who would fully appreciate the building’s premium amenities and accept the associated service charge.

The strategy also focused attention on the apartment’s exceptional purchase price, demonstrating how the lower asking price could effectively offset several years of service charges.

Throughout the process, AZ Real Estate remained closely involved, managing communication and coordinating the transaction on behalf of the overseas owner.

Eventually, a buyer was secured who appreciated both the apartment’s potential and the lifestyle it offered. The transaction completed successfully, allowing the owner to move on from a long-running and increasingly costly commitment, while the buyer secured a spacious London home with exceptional panoramic views.