Institutional landlords place huge importance on asset management during periods of economic uncertainty.
With Brexit overhanging the market, we as an agency have been working hard with clients to arrange sales off-market as well as via our traditional on-market approach.
A key client (one of the largest registered providers in the country) appointed us to advise on a historic site within their portfolio. The subject property comprised a single storey warehouse unit well located on Wearside Road in Ladywell.
‘A planning consent was secured in October 2017 with Lewisham Council for ‘the demolition of the existing building and the construction of 3 x contemporary houses and a four-storey block comprising 6-apartments (9-units in total)’
The planning consent was too small for delivery by our client. As a result, we were approached to carry out a detailed valuation and sell the site. Once a price was agreed, we progressed with an off-market campaign. We quickly identified a handful of quality purchasers to approach with the opportunity. Following the generation of multiple bids, we proceeded with an unconditional offer of £1,325,000. Using the interest generated we were able to secure a successful exchange of contracts promptly after a price was agreed and contracts were sent out.
This sale represented a strong plot value for Lewisham just sub £150,000 per unit.
If you own a consented development opportunity, then do get in touch with us to discuss the best way to maximise its value.