The new piece is located on one of Britain steepest residential streets on a property in Totterdown, Bristol, a property that is currently on the market with local estate agent Greenwoods Property Centre, however, the sale is now on hold. Undoubtedly the piece has caused quite a stir in the local community with many coming out to have a look at the artist’s latest stencilled work.
Member of The Guild of Property Professionals and Director of Greenwoods Property Centre, James Grimsted, posted an image of the mural on his Instagram account with the understated caption ‘When Banksy makes one of our property sales slightly more complicated….’
James explains: "The Banksy piece has made the transaction situation far more complicated with a lot of speculation in the national press regarding the property now being off of the market with skyrocketing values due to the mural being suggested, however, at this stage that is all hearsay, and nothing has been discussed or clarified."
Grimsted and his team at this time are respecting his client’s wishes in order for them to take time and receive appropriate advice.
He says: “We are currently in unchartered territory regarding how something like this would impact the value of the property, how would one even qualify something like this? Our client needs time to sufficiently evaluate their situation and it is only appropriate that they are allowed to do so, so this has been our recommendation.”
According to Grimsted, he became aware of the piece on Thursday morning and since then it has been a whirlwind of media and people wanting to know more about the mural and taking photos.
He concludes: “While there is much rhetoric in the media regarding the property, which has obviously caused the first-time buyers some concern regarding whether the property transaction is still going ahead, as it stands at the moment, the property is still on the market but the vendor is rightly taking stock of her position and has respectfully asked for the transaction to be put on hold.
"All I can say is this is an unbelievable story, and we will keep all parties involved up to date as it continues to unfold.”
