Bromley BR1 Somewhat selfishly, I’m delighted that we’ve sold this property for redevelopment. It’s been on my commute for 25 years and frankly, it’s an eyesore! Acquired by a longstanding client as a multi-let commercial investment, permission was secured for extension and conversion to create 11 apartments. We sold the property to a private build-to-rent investor.
New Eltham SE9 Lock-up shops in busy parades remain in high demand. This unit attracted several offers and was ultimately let to a chain of telecommunications shops for £14,000pax.
CGI
West Kingsdown DA3 Detached former day centre approx. 2,350 sqft on a half-acre plot. Sold vacant to a day nursery operator for £500,000 F/H.
Woolwich SE8 A vacant mixed-use freehold at the top of Woolwich; most recently operated as a bookmakers. The property has consent for alteration and extension to form two commercial units and 8 self-contained apartments. We sold the site in 2022, but the buyer decided to pursue other projects instead. We were only too happy to arrange a further sale, and understand the latest owner intends to build-out and retain the investment.
Greenwich SE10 The third industrial unit that we’ve sold on this estate in 2023. Approx 2,685 sqft and offered as a vacant freehold, we achieved £610,000.
Catford SE6 Dartford DA1 Vacant former day centre c.2,170 sqft and prominently positioned in central Dartford. Lapsed consent for community unit and 9 flats. Sold for £650,000.
Despite the recent hike in interest rates, property is an asset class that continues to appeal to investors. Modern socioeconomics suggest a solid future for businesses in childcare and early years education, and investors at all levels have been quick to recognise that. This attractive period building is let to a chain with over 100 day-nurseries nationwide, and generates an income of £68,079 per annum. We sold the investment to an overseas ex-pat family at a NIY of 6.7%. 3
