News

22 January 2018

Replacing old industrial site with much-needed new housing

SHW employed a multi-disciplinary approach in order to transform a dilapidated industrial site in Thornton Heath with new flats and more besides.



We were asked to carry out a review of the site by the client’s solicitor Streeter Marshall – the site had consent for eight units as well as space for a place of worship to replace existing space, and a deal had been agreed already.

 

We realised the deal agreed was not a true reflection of value, marketed the site and sold to an alternative party for double the previous offer.

 

Furthermore, our Professional Division was also instructed to carry out a Capital Gains Tax valuation on the site for the client. As a result of expert advice our client was able to realise a much higher selling price than previously envisioned.


Our client said: “Thank goodness we consulted SHW or we could have sold for half the price we eventually received.”


Richard Plant, Head of SHW’s South London, Surrey & Kent Region said: “It’s very satisfying to be able to utilise the full scope of the firm in order to achieve a very positive client outcome, as well as recycling a site to be put toa new use.


“In the actual event we achieved 100% more than the client was originally going to accept. This gave riseto a considerable capital gain but SHW were also able to assist in this regard as well.”

 

Contact: 
Richard Plant

020 8662 2718

rplant@shw.co.uk 


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