Three Bedrooms Inside a Converted Industrial Space

$1.95 MILLION (1.495 MILLION BRITISH POUNDS)

This three-bedroom home, converted over the past two years from an auto mechanic’s garage, is just down the street from Mile End Park in East London. The modern design incorporates below-ground and staggered levels to maximize the house’s 1,600 square feet of living space, with a central glass atrium that runs from top to bottom.

“It’s a clever design to bring light to the lower part of the building, so you don’t feel like you’re in a boat or something,” said Chloe Bliss, an agent with The Modern House, which has the listing.

The home’s brick facade is painted black, with sections of frosted glass above oak doors. The main entrance opens into the combined kitchen and dining area, which has a double-height ceiling, two skylights and polished concrete floors. The appliances and sink are built into the sleek cabinetry that runs the length of one wall.

An oak and black steel staircase leads up a half level to the living room, which has glass walls overlooking the kitchen on one end and the atrium on the other. It has a skylight, oak parquet floors and a linear frosted glass window to bring in more light. On the other side of the atrium is a bedroom (currently configured as an office) with an en suite bath. Stairs at the kitchen end of the living room lead to a small rooftop terrace.

The other two bedrooms, one with an en suite bath, are below the kitchen, situated on either side of a small courtyard at the base of the atrium. Another level below is a large “family bath” lined with polished concrete. It has a large walk-in shower, a trough sink and a soaking tub.

The property does not have a garden or dedicated parking space. There is a bike storage closet just inside the main entrance, Ms. Bliss said.

The once-industrial East London neighborhood has been undergoing regeneration for some time, Ms. Bliss said. This property is flanked by a builder’s supply shop on one side and homes undergoing redevelopment on the other. Two parks are within a block: The 79-acre Mile End Park, with its fitness center and stadium, climbing wall, skate park and children’s playground; and Tower Hamlets Cemetery Park, a restored Victorian cemetery. Shops for necessities and casual restaurants reflecting the area’s ethnic diversity are within an easy walk, she said.

The property is about a 10-minute walk to the Mile End underground station; the ride to central London is about 15 minutes. Heathrow Airport is about 75 minutes by car, and 90 minutes by public transit.

Market Overview

After at least five years of flat or falling prices, due in large part to the economic tumult unleashed by its protracted withdrawal from the European Union, Britain began to see some encouraging signs in the housing market as 2020 began.

“Over the past three years, there has been a general slowdown in UK house price growth, driven mainly by a slowdown in the south and east of England, but there has been a pick-up in annual growth since December 2019,” according to a March 2020 report by the Office for National Statistics.

The average house price across England in March was 248,000 British pounds ($323,000), a 2.2 percent rise from March 2019. In London, prices grew by 4.7 percent year over year to an average of 486,000 pounds ($635,000) — the largest 12-month growth in the capital region since December 2016.

According to the report, the increased growth in London “may reflect a larger shift in the type of properties being sold than usual, with more sales of very high value properties.”

The report also notes that the national House Price Index would be “suspended until further notice” due to data volatility caused by pandemic-related disruptions. But real estate agents there report that London’s housing market has seen a surge in demand since England’s pandemic-induced prohibition on in-person real estate showings was lifted on May 12.

“There are a few things going on,” said Tom Bill, head of United Kingdom Residential Research for the property firm Knight Frank. “We have a degree of pent-up demand that’s been building for five or six years against the landscape of Brexit, tighter lending conditions, and an ever-changing tax landscape. Then the general election last December that elected a majority government released a lot of demand in January and February.”

The subsequent coronavirus lockdown, he added, “caused people to re-examine how and where they live, and we are at a slightly artificial moment in time. We don’t know how long it’s going to go on.”

Britain has been hit hard by Covid-19, with 310,829 reported cases and 46,574 deaths as of Aug. 11, including the second-highest death rate in the world, according to the World Health Organization. While England has lately seen some local outbreaks, cases have been on enough of a decline that buyers are venturing out in large numbers.

“People are feeling a little more confident that they understand what is going on globally more than they did three months ago,” said Guy Gittins, managing director of the estate agency Chestertons. “They were more fearful and paranoid at the start of lockdown. And if you’re working at home, suddenly you need that home office or that garden.”

In the month leading up to Aug. 7, Chestertons’s 32 London offices had 100 percent more accepted offers than during the same period last year, Mr. Gittins said, adding that the fall-through rate on deals was half that of the previous year. “That is a very important indicator of buyer sentiment,” he said. “We haven’t seen a market like this for 10 years.”

Ms. Bliss said that visitors to The Modern House website have increased by 144 percent since May 13 compared with the same period last year. About 70 percent of those visitors were new to the site.

Leafier parts of London offering family houses with more outdoor space, including Wandsworth, Richmond, Dulwich and Islington, saw small price increases in July due to rising demand. Prices in prime central London, including the neighborhoods of Mayfair, Kensington and Notting Hill, remained flat, as those areas are more reliant on international buyers, many of whom have been stymied by travel complications, Mr. Bill said.

Who Buys in London

While interest from international buyers dropped off during the lockdown, there were some “brave buyers” who used the moment to strike some discounted deals from afar, Mr. Gittins said.

“We put together some high-value deals for overseas buyers who were very familiar with the city and the types of properties,” he said.

More recently, Chestertons’s offices have seen a doubling of interest from Hong Kong buyers, many looking for a safe haven from the political unrest at home, he said.

Interest from U.S. buyers has also increased over the last year or so, Ms. Bliss said. (Americans traveling to Britain are currently required to quarantine for 14 days.) Other foreign buyers tend to come from China and the Middle East.

Buying Basics

There are no restrictions on foreign buyers in England. Buyers and sellers use their own lawyers. The agent’s commission in London is 2 to 3 percent, and is paid by the seller.

Buyers must pay a surcharge of 3 percent of the purchase price if the property is a second home.

Foreign buyers should be aware that many apartments in the prime, older areas of central London are for sale on a leasehold basis, Mr. Gittins said, wherein purchasers buy a lease from the building owner, which could be an individual or group of individuals.

“You own it for a set period of time — it could be very, very short or very, very long — and you have the right to extend that lease,” he said. “There are rules around that, and it’s complicated, so you definitely need very good legal expertise to walk you through that.”

Websites

Languages and Currency

English; pound sterling (1 pound = $1.31)

Taxes and Fees

Normally, stamp-duty land tax is due on the portion of a sale price above 125,000 pounds ($147,000), starting at 2 percent and gradually rising to 12 percent on the portion above 1.5 million pounds ($1.77 million).

However, a tax “holiday” in place countrywide through March 31, 2021, exempts the first 500,000 pounds ($590,000) from the tax, and provides additional savings up to a maximum of 15,000 pounds ($17,700), Mr. Bill said.

“Up to purchases of $1.5 million, it does make a difference, and we’ve noticed a relative uptick in activity in that range,” he said.

Legal fees for a freehold purchase range from about 1,000 to 5,000 pounds ($1,180 to $5,900), Mr. Gittins said. Fees for a more complicated leasehold purchase could be twice as much.

Annual council taxes on this home are around 1,400 pounds ($1,650), Ms. Bliss said.

Contact

Chloe Bliss, The Modern House, 011-44-7508-133-248; www.themodernhouse.com

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Good evening. Here’s the latest.

1. Fresh relief for Americans hit hard by the coronavirus recession remained distant, and new presidential directives caused confusion and criticism.

Under the measures that President Trump announced Saturday, those eligible for unemployment aid would receive an extra $400 weekly, with the federal government covering only $300 of that amount and states making up the difference. Above, Mr. Trump with his executive orders.

A number of governors expressed alarm about having to make up the $100 difference, as many states have seen tax revenue plummet during the pandemic. And because Congress controls the federal budget, the president’s directives will almost certainly be challenged in court.

It was unclear when negotiations would resume over how to close the gap between a $3.4 trillion measure the House approved in May and a roughly $1 trillion package that Republicans unveiled last month. Lawmakers have largely left the capital to return to their home districts.

Federal agencies have been asked to submit feedback to the White House by Tuesday, though it was unclear when President Trump might approve or announce the rule. Above, the border between Mexicali, Mexico, and Calexico, Calif.

A draft memo, parts of which were obtained by The Times, said the prohibition would apply “only in the rarest of circumstances,” but if Mr. Trump approved the change, it would be an escalation of his government’s longstanding attempts to seal the border against what he considers to be threats.

3. The Clintons and the Obamas will be among the speakers at the mostly virtual Democratic National Convention next week.

Senator Bernie Sanders of Vermont and former Gov. John Kasich of Ohio, a Republican who is a harsh critic of President Trump, will deliver addresses Monday night. Hillary Clinton, above, will deliver a prime-time speech next Wednesday, as will Senator Elizabeth Warren of Massachusetts if she is not selected as Joe Biden’s running mate, officials said.

Mr. Biden, the former vice president and presumptive presidential nominee, will speak from Delaware on Thursday, the final night of the convention. Former President Barack Obama’s time slot has not been announced, and neither has Michelle Obama’s.

Mr. Biden is expected to announce his running mate this week. His advisers say he has spoken in recent days with several of the leading candidates, as well as Gov. Gretchen Whitmer of Michigan.

And President Trump tweeted that he may make his acceptance speech for the Republican nomination in Gettysburg, Pa., or at the White House.

4. McDonald’s sued its former C.E.O., claiming that he lied about sexual relationships with three employees in the year before his ouster.

Steve Easterbrook, above, was fired and replaced eight months ago for sexting with a subordinate. For the most part, corporate executives under a similar cloud have departed quietly, and companies haven’t aired the ugly details.

But a new allegation from an anonymous tip about Mr. Easterbrook has ignited a public war, with McDonald’s seeking to recoup stock options and other compensation that it allowed Mr. Easterbrook to keep — a package worth more than $40 million, by one estimate.

Mr. Easterbrook’s lawyer didn’t immediately respond to requests for comment.

5. Lebanon’s prime minister and cabinet resigned.

In a televised address, Prime Minister Hassan Diab said he was acting after widespread anger over last week’s explosion, which killed more than 150 people, wounded 6,000 and left hundreds of thousands homeless.

The blast added to existing frustration with the country’s political elite for what many in Lebanon consider decades of corruption and mismanagement. Above, protesters near the Parliament today.

Mr. Diab, in office since January, said his government had sought to put in place changes called for by the Lebanese people but was blocked by political foes he declined to name. It is unclear who will now take charge of the recovery from the blast.

The campaign against the pro-democracy movement has drawn a global outcry. On Friday, the Trump administration placed sanctions on Carrie Lam, Hong Kong’s chief executive, and 10 other officials over their roles in suppressing dissent. China retaliated by sanctioning 11 American nonprofit leaders and lawmakers, including Senators Marco Rubio and Ted Cruz.

7. Chicago police officers arrested more than 100 people on charges of looting, battery against the police and disorderly conduct. A curfew was imposed on downtown starting tonight.

Hundreds of people converged early Monday on the city’s upscale shopping district, breaking windows and ransacking stores. The chaotic scene prompted officials to briefly raise bridges downtown and halt nearby public transit. Thirteen police officers, a civilian and a security guard were injured. Above, Yogi Dalal with his daughters Jigisha, right, and Kajal at the family food and liquor store after it was vandalized.

The police said the looting had apparently grown out of a shooting between the police and a man with a gun that took place on the South Side. Like many other cities across the country, Chicago has seen a spike in gun crimes this summer.

“What occurred downtown and in surrounding communities was abject criminal behavior, pure and simple,” Mayor Lori Lightfoot said this morning.

8. This could be the largest public gathering in the U.S. since the first coronavirus cases emerged here in the spring.

Officials expected about 250,000 motorcycle enthusiasts, about half the attendance of last year, in Sturgis, S.D., for the town’s annual biker rally.

We spoke with a few of those attending about why they came. Many said they were not concerned about the virus, as they walked around without masks, took helicopter rides and attended outdoor concerts and motorcycle shows.

9. Amazon has plans to launch 3,236 satellites. SpaceX’s goal is 12,000. And OneWeb has already put hundreds into orbit.

They all aim to extend high-speed internet service around the world, including to remote or underserved communities. But astronomers are worried.

With only about 2,600 satellites aloft right now, skywatchers are increasingly alarmed because of the orbs’ propensity to photobomb astronomical images with bright streaks. Above, a long-exposure image of a satellite’s track in the sky near Salgotarjan, Hungary.

Scientists are also worried about the lack of regulation as more entrants join the action. “It feels like putting a bunch of planes up and then not having air traffic control,” a planetary astronomer in New Zealand said.

10. And finally, if you drink Fresca or Squirt, you’re now also swallowing the latest mosquito repellent.

Nootkatone, an oil found in cedar trees and grapefruits, won approval today from the Environmental Protection Agency as an insect repellent. It is so safe that it is used as a flavor and fragrance by the food and perfume industries.

The chemical is not oily, lasts for hours and has a grapefruit-like scent. And it repels mosquitoes, ticks (like the one above), bedbugs and fleas, according to the Centers for Disease Control and Prevention. Bonus: It may also be effective against lice, sandflies, midges and other pests.

Have an all-natural evening. And don’t let the bedbugs bite.

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