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Editorial Transactions
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Meet the Team
We deal with people, not just their properties. Put a face to our names on page 7...
Business has been great for the Commercial, Investment & Development teams with over 100 new deals agreed for our clients across Acorn and Stirling Ackroyd in Q3. We are on track to have the strongest exchange quarter of the year in Q4. As we continue to invest in our people to ensure you get the right advice and the best possible service, we are delighted to announce that two new graduates will be joining our experienced team in November.
So, what makes us different? Now part of LRG, we provide national coverage. We are market leaders in our sector and now supply additional services including planning consultancy work delivered by ‘Boyer Planning’ and commercial surveys, building surveys, and red book valuation work delivered by ‘SAS’. Our division is supported by over 300 estate agency branches across the UK including brands Romans, Gibbs Gillespie, Portico, Leaders, Scott Fraser, AndCo, Hose Rhodes Dickson and Moginie James. As we continue to grow, I am also delighted to announce that The Acorn Group has acquired GPS, an established lettings business based in Dartford, operating across North Kent On the back of the last newsletter, which is distributed to our database of over 15,000 B2B clients, we are very grateful for the new enquiries. Please remember, we now operate nationally. If you are a landlord with a vacant property or seller of a commercial property, investment or development site, we would be delighted to help. Our business is all about relationships and working together.
Neil Louth CEO
Catford SE6
After a long period of ownership and having carried out a full refurbishment and extension of the property, our client decided now was the right time to sell these two adjacent Victorian buildings in Catford.
Comprising 2 ground floor retail units and 7 flats, the properties were producing a total rent of £124,900pa. The buildings were purchased by an investor after an extensive marketing campaign for a price which reflected a low 7.8% yield.
Keston BR2
From petrol garages, to sausage factories, we deal with an array of different property sales, the more peculiar the better! We were delighted to be instructed to market this former chicken farm in Keston.
Comprising 16,000sqft of offices, workspace and storage on a 1 acre site, the former chicken farm was converted by our client when originally purchased in 2008.
Offered to the market vacant or with the current tenants in situ, a thorough marketing campaign resulted in lots of interest and a sale was agreed to a company with similar investments locally. The new owner plans to enhance the existing accommodation and increase the rental income.
Dartford DA1
After over 90 years of ownership and occupation, A Pile & Sons decided to explore the notion of a sale. Whilst they had been approached regularly over the years on a subject to planning basis, they wanted to pursue an unconditional sale.
Freehold industrial sites of this size (1acre) are rare to find, and with Enterprise Rent-A-Car renting part of the site, we were confident a similar business would offer the best terms.
We took the site to the market on two fronts, a freehold sale and a company sale. The early interest was strong, however one party with an existing car repair business materialised as the standout bidder, and terms to purchase the company were agreed.
A company sale is rarely straightforward and with nearly a century of trading behind the business, this made matters more complex. The legal process certainly took longer than a typical freehold sale, however the upside for our client made it worthwhile.
Interestingly, the terms agreed were on par with subject to planning offers received over the years, and whilst a property may appear to offer development potential, sometimes the value rests in the existing bricks and mortar!
We’re always willing to appraise properties where the value is hard to pinpoint. If you or a client would like the benefit of our advice, please don’t hesitate to get in touch.
In a nutshell
£45,000pa
Type 2,440sqft E
South Norwood SE25
Location
Catford SE6
sqft
Croydon CR0
£547,000
Woolwich SE18
£320,000
Originally bought by the seller in the early 2000’s, after 20 years of ownership, our client decided now was the right time to sell.
The four-storey end of terrace Victorian building located in South Norwood comprised of 4 flats, let and producing £52,200 per annum with potential to increase the income.
An extensive open-market campaign resulted in a number of bids, and a sale was ultimately agreed to a private investor.
Welling DA16
This prominent town centre development opportunity initially featured in our 1st quarter update of 2022, following our successful efforts in brokering a sale of the property from one long term client to another.
Fast forward to 2024, we are pleased to report that we have successfully managed a sale of the property for a second time! This time with the benefit of full planning permission to build a modern block comprising ground and first floor commercial and 9 new build apartments.
Whilst we can probably rule out a sale of the site in its current form for a third time, our commercial, investment and development, new homes and financial services teams all look forward to assisting with the future sales of the finished units.
