Daniel Bruce said his flat is now “worth zero” (Image: MYLONDON/Facundo Arrizabalaga)
A homeowner said he feels his “life was stolen” after finding his £800,000 London flat is “now worth nothing”.
Daniel Bruce, 40, bought his flat, a plush home in a Camden block, in 2019.
He said the new-build property at 53 Agar Grove immediately caught his eye, and was stunning both in the brochures and in person.
But he claimed his dream home turned out to be anything but, as he encountered a host of issues with his flat, rendering it “worth zero”.
Over the last few years, Mr Bruce has had to reckon with a leaking terrace that causes rotten and partially collapsed floors, plumbing issues and electrical problems.
READ MORE: UK home sellers average £102,650 profit in 2023, Hamptons reports
The homeowners bought their flats at newbuild Agar Grove in 2019 (Image: MYLONDON/Facundo Arrizabalaga)
Speaking to MyLondon, he said the terrace started leaking into his home just days after he and his partner moved in, with other flat owners having similar issues.
The leaking terrace, he claimed, caused cracks in the building’s external facade and some of the brickwork now moves.
He added that a bathroom floor has collapsed on itself, rendering the room unusable, and that during heavy rain his ceiling leaks, causing electrical issues which mean his kitchen is useless for days or weeks on end.
Other owners said they encountered similar issues, with their bathrooms having started leaking.
Mr Bruce has alleged the building’s facade moves when touched (Image: MYLONDON/Facundo Arrizabalaga)
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Mr Bruce and Alexandra Druzhinin, the owner of another flat in the seven-storey building, have alleged the building is structurally unsound.
They said strong winds and large, rumbling lorries rolling by outside can cause their flats to shake.
Mr Bruce said: “Every time the building moves, or every time there’s a loud sound, you’re awake, and you’re also going to check just to make sure everything’s okay.
“I have this nightmare that one of the corners [of the building] just falls away and I’ve got to go and get everyone, knock on every door to get everyone out.”
Both homeowners had surveys conducted before they moved in, which found nothing was wrong with the properties or building, but they are limited as they cannot assess a home’s structural soundness.
Neither he nor Ms Druzhinin have been able to claim insurance agreed in plans finalised in 2019, leaving them trapped in the building, which is owned by Prime Metro Properties.
Despite entering the claims five years ago, they have yet to receive a penny from insurance underwriters Acasta European Insurance Company Limited.
The two have spent those years fighting despite the flats now being worth nothing, Mr Bruce claimed.
He said they have even received a report “that said it needs demolishing”.
In response to the claims, a spokesperson for Prime Metro Properties (PMP) said the firm is working with Acasta to agree on a schedule that can “rectify” the issues.
They said: “We are currently in discussions with Acasta the structural defects insurers in an attempt to agree on a schedule of works to rectify the issues within the building.
They added: “We instructed and continue to engage the structural engineer who has produced the reports that the leaseholders are relying upon and continue to engage a legal team to ensure that the claims of the leaseholders and freeholder are dealt with correctly.
“Our legal team is working in conjunction with that of the other leaseholders to find an acceptable solution to this problem and is dedicated to bringing this to a conclusion.
“Unfortunately, it is a complex situation and the process very slow and costly. This is further exacerbated by the fact the construction company who were employed to build 53 Agar Grove have gone into liquidation.
“Whilst the building is clearly deteriorating there are a number of differing professional opinions as to cause and remedy.”
The spokesperson said PMP maintains the flats were sold with absolute good faith and with all the correct documents from Camden Planning, Building Registrations and insurers in place.
A spokesman for Acasta said the firm cannot provide specific information on the case but remains “committed to fulfilling its obligations” at 53 Agar Grove.
They said: “Unfortunately, we are constrained in our ability to provide specific information and freely discuss all matters in relation to the insurance claims generally with third parties, for confidentiality and other legal reasons.
“Acasta remains committed to fulfilling its obligations under the relevant insurance policies in respect of the owners of the apartments at 53 Agar Grove.
“We continue to engage with the relevant owners regarding progression and resolution of this matter.”
