20 June 2018
Multi-let industrial investment sale
SHW Development/Investment Consultancy have completed the sale of an industrial investment in Thornton Heath. The half acre site comprised eight-unit industrial units producing over £75,000pa. The site has been purchased by a Croydon based investor / developer, with a view to redevelopment in the medium term.
Our Professional Division were instructed to rationalise the lease events for the units, in order that it could be a viable future development opportunity. According to SHW Head of Professional Division Jon Dickman: "Only through the expertise and careful negotiation of the Professional team were all the leases aligned and regularised to allow a potential purchaser to have the comfort that the development of the site was realisable at a future point in time to help maximise the final sale price."
SHW Commercial Management have looked after the property for many years, and have been retained to manage the premises for the new owner with a particular focus on tenant liaison.
Our private clients said: "In discussion with SHW we formulated a strategy to ready the property for sale. SHW followed the plan including recommending legal advice in order to achieve our goal of releasing our capital in an orderly fashion. We are very pleased with the outcome."
Richard Plant, SHW Development Consultancy Partner said: "The site was sold without residential planning consent but achieved a value based on its potential as a development site over and above its industrial land value."
Contact:
Richard Plant
020 8662 2718
