A highly regarded residential property lawyer specialising in UHNW portfolios in London, Nicholas Maestri joined Bargate Murray in April 2018 to set up its high-end residential property department. ‘I knew immediately that the firm’s ethos matched my own: a bespoke personal service for the client as opposed to just numbers on a piece of paper.’
Maestri brings a level of expertise and knowledge few can match. ‘I have significant expertise in the prime central London property market, acting for both domestic and international clients. I have a strong track record in maintaining high levels of service, and provide a tailored approach to achieve client demands,’ he says. ‘I have advised in the sale of individual flats in a new-build development worth over £25 million and have acted for clients in purchases and sales in some of the most desirable roads and new developments in London.’
Recent examples include a number of prime developments in central London, including Chiltern Place, Novell House, and West Gate House, as well an £11.5 million freehold purchase in Kensington. He also deals with corporate purchases and sales where the property is the sole asset of the company. He can also act on transactions where the funding is with a Sharia-compliant mortgage.
He’s bullish about market prospects. ‘Brexit has been challenging as the confidence in the property market is very low at the moment; but outside London the market is buoyant thanks to the first-time buyer SDLT incentives, while property priced over £10 million, especially to international buyers, is unaffected by political changes,’ he says. ‘Most of our work outside those parameters has slowed, as buyers are looking for the seller to compromise on the price, which they will only do if they need to sell,’ he adds. ‘Most sellers are merely waiting for the value of their properties to return to their pre-Brexit levels.’
For agreed deals, he says the time frame is much shorter, as practices are becoming conscious of potential withdrawals and want to ensure the other party commits as soon as possible. For Maestri, absolute discretion and confidentialy are paramount. ‘It is all about the service,’ he says.
Maestri started out at a regional property firm in 1996, becoming an equity partner soon after qualification. After leaving in 2013, he joined a ‘rapidly growing’ firm, setting up its residential departments in multiple central London offices before moving to a UHNW-focused London practice. He then joined Bargate Murray who originally focused on superyacht law, but now act on the disposal and acquisition of all luxury assets.