A YEAR IN REVIEW...

Deborah Battsek, founder of DBPR, an established PR consultancy specialising in the luxury property sector in prime central London sat down with Christian and Simon to discuss how the business has fared over the last 12 months, gaining valuable insight into what makes Tedworth successful and how they operate as a team from their Sloane Street HQ. 

DB: 2023…has it lived up to expectation for Tedworth? 

ST: Our year started with a bang – a ‘Team Tedworth’ trip to the Alps. It was a great opportunity to come together as a team to ensure we were all aligned in our objectives for the year ahead, and whilst there is always a slight sense of trepidation at the beginning of a new year, as we sit here now and reflect, I would say yes, without a doubt 2023 has lived up to our expectations, and possibly even surpassed them. Amongst the backdrop of a challenging market, we have been involved in some great transactions and achieved some phenomenal results and the true testimony to this can been seen from the point of view of our clients. 

CW: We have received more rave reviews and testimonials than in any of our previous years trading and, even more pleasing than this, we have had more new business introduced to us by way of referrals too, demonstrating that our values and methods are not only being appreciated by our clients but also cutting through more deeply into our market which is really exciting. 

DB: Can you outline anything specific that deserves a special mention? 

CW: The growth of our lettings business unquestionably needs to be emphasised as a significant highlight. One of our key objectives has always been to ensure our lettings portfolio evolves and grows in unity with our sales business and wider brand as a reputable, best in class service. The prime central London lettings market is hugely competitive and challenging but Sabaya Verger and Hannah Wilson have been brilliant at driving our growth in this sector and have been instrumental in the creating the foundations of what is now a massively important element of our service offering to clients. 

ST: We were really keen to develop and strengthen our brand this year too; In order to genuinely be at the top table, one needs a recognisable, stand out brand and the way that Jade Cudin has developed Tedworth has been very impressive. Peers within the industry compliment us on how brand Tedworth is evolving, and there can be no greater praise than that of a competitor. 

DB: It is widely reported that stock levels are historically low, whilst demand from buyers seemingly remains at a healthy level. Should this not create competition and stable growth in the market? Why does confidence seem such a problem? 

ST: The first thing to say is that a supply/demand imbalance is not a new phenomenon. We operate in a highly discretionary market and so your point about confidence is key. Sentiment absolutely dictates how the prime central market behaves and the prime central London market is as affected by global concerns as it is domestic. Situations beyond anyone’s control in recent months, coupled with persistent ‘doom and gloom’ media reports alongside the often knee jerk reaction of corporate commentary has unquestionably eroded the confidence required by buyers and whilst the demand remains, not at any price. Generally speaking, a purchaser needs to feel that they are getting realistic value and for those discretionary clients who don’t need to sell, this can sometimes encourage them to ‘sit this cycle out’. 

CW: In reality, the volume of prime sales is not at all inconsistent with what the market has seen on average over the last 10 years; there is significant competition for best-in-class properties at all price levels and there is no question that London remains as desirable for ever for its cultural lifestyle appeal. There is a growing sense of stability that we believe will drive a sense of confidence in the coming months. Our most common advice to our clients right now is ‘hold your nerve’.