Update 2nd Quarter 2016

The Update

Second Quarter 2016

Commercial & Development Division

Bermondsey We were instructed to arrange a sale of these former stables in SE1 by the owner-occupiers, who had secured prior approval for the conversion of the office building to residential. Furthermore our clients had received a positive preapplication response to an entirely newbuild, residential proposal. It therefore seemed fairly obvious that the property would be sold to a residential developer, but we remained mindful of the shortage of freehold office accommodation in and around London Bridge.

Our marketing strategy attracted a host of offers within a short timeframe, and whilst strong interest was received from several developers, we agreed a sale to a local firm of architects. A deal was exchanged and completed inside 4 weeks.

What’s Inside...

Rotherhithe In spite of a recent planning refusal and unsuccessful appeal, we had no trouble arranging the sale of this vacant former public house on behalf of McCulloch Homes.

Our marketing generated a host of offers, and a sale completed inside 4 weeks.

Page 2 We moved to bigger, better offices in London Bridge in early July…

Catford Freehold D1 buildings are in high demand, so it’s no surprise that this former school in Catford was snapped up by a local nursery operator for a figure well in excess of the guide price. If you have a D1 property you’re mindful to sell or let, please get in touch.

Page 4 After letting a unit in Bromley to GBK, we popped in for a team burger…

1 Sherman Road, Bromley, Kent BR1 3JH 020 8315 5454

120 Bermondsey Street, London Bridge, London SE1 3TX 020 7089 6555

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Editorial ‘Frustrating, but equally rewarding’ would be my summary of the second quarter!

In hindsight business levels remained good during the three month period, but there’s no doubt that the market became a little stodgy between the budget and the EU Referendum. Those that didn’t absolutely need to make a decision, quite simply didn’t make that decision! That in itself proved rather frustrating, but immediately after the Brexit vote it was interesting that the market began to move again, in spite of the unexpected outcome.

Whilst on the subject of Brexit, I’m not sure that I’m adequately qualified to comment on the likely impact on the market (who is?), but for what it’s worth, my opinion is that activity in Greater London will remain strong. Demand for housing is unlikely to diminish which will ensure that developers have a game to play, and money is only likely to get cheaper, which will continue to encourage investors to look to property for a return on their capital.

Turning specifically to 2nd quarter business, you’ll note from this Update that we completed a wide range of transactions across an equally wide area during the period. Demand continues to outstrip supply, so if you have a commercial, investment or development opportunity to sell or let please get in touch.

Last, but certainly not least, we’ve finally managed to acquire larger offices in London Bridge! We’ve bought just over 2,000 sqft of open plan B1 space adjacent to our agency branch on Bermondsey Street. The space is most definitely ‘urban chic’, and will house factions of our Commercial & Development, New

Our work with The Manna Society We always aim to achieve the best possible price for our clients, but when our London Bridge branch achieved £2,500 more than a client expected for her property, she kindly donated the money to a charity of our choice!

Given our ongoing association with The Manna Society, we were delighted to deliver the generous cheque to help them continue their work with London’s homeless.

Jess Adams, Lily Whitby, Clare Thorn and Katie Grimwood have also spent time at The Manna Centre this quarter; helping wash up crockery, and prepare and serve food.

For more information on Manna’s work and how you could help, please visit mannasociety.org.uk.

1 Sherman Road, Bromley, Kent BR1 3JH 020 8315 5454 2

Homes, Asset & Equity Management and Financial Services teams. We already have 12 staff in situ, and will be adding to each of the teams during the remainder of the year.

I hope that you find our latest Update interesting, and would be delighted to hear from you if we can be of assistance in any way.

Jeff East - Director jeff.east@acorn.ltd.uk

GBHC Mini Marathon Back in April, our John Payne brand sponsored The Greenwich & Bexley Hospice Mini Marathon for the second year running.

More than 1,000 young runners and their families descended on Greenwich Park to help raise money for the local hospice.

Fortunately the weather was kind and John Payne’s ‘selfiestand’ was a hit! Acorn Group staff manned water stations and marshalled the 2.62 mile route, with goodie bags awarded to all participants upon completion of the course!

It was a fantastic day for all who took part, and for a very important and worthy cause.

Keep up to date @johnpayne.

120 Bermondsey Street, London Bridge, London SE1 3TX 020 7089 6555

acorncommercial.co.uk

Beckenham

Sevenoaks

Our agency team recently concluded the sale of this commercial freehold in Beckenham. Our local Langford Russell branch is situated on the ground floor; with offices above.

The sale was completed to a local investor inside a month.

This development site had full planning permission in place for 6 residential units, and was purchased by a regional developer that intends to start construction straight away.

Tower Bridge

East Sussex

Our London Bridge agency team achieved a premium rent for this prominent retail unit on Tower Bridge Road.

The unit will be operated as a wine bar and delicatessen following a change of use application.

This freehold period D1 building was previously used as a care home. It was marketed with potential for conversion to residential use (stpp) and a sale completed just 7 weeks from instruction.

Elmers End

Bromley

Sevenoaks

We recently pre-let the ground floor of this prominent new development to the Co-operative food group. Completion is due in October this year.

Following the sale of this High Street freehold we were instructed to find a tenant for the vacant ground floor, and duly secured a letting to solicitors.

We were delighted to secure the location of our new Sevenoaks Langford Russell residential office in April; a prominent spot on Sevenoaks High Street!

South Norwood

Catford

South Norwood

This appealing site in South Norwood with planning permission for two apartments was snapped up by a local developer within just two weeks of marketing.

Following considerable interest, this A1 unit was successfully let to a local funeral business in May. We always need retail instructions!

This vacant commercial freehold was sold to a local investor within 5 weeks of us being appointed. More freeholds are urgently required.

1 Sherman Road, Bromley, Kent BR1 3JH 020 8315 5454

120 Bermondsey Street, London Bridge, London SE1 3TX 020 7089 6555

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Bromley We let a unit in Bromley’s prime leisure pitch to Gourmet Burger Kitchen (GBK) last year, and have been meaning to pop in ever since.

A recent team meal out gave us the perfect excuse, and we weren’t disappointed!

We manage the letting and acquisition of prime commercial units for a range of clients. If you have a strategic unit to let, or indeed have a specific commercial requirement, please contact one of our offices.

Adam Hosking Associate

Henry Hammond Projects Manager

Emma Fox

Tom Luck

Jeff East

Tony Wood

Steven Flannighan

Josh Byles

Jess Adams

Lily Whitby

Office Manager

Projects Co-ordinator

Director

Projects Co-ordinator

Director

Projects Manager

Team Secretary

Team Secretary

Staff Focus Here’s what we found out after a brief conversation with Tony Wood....

Best holiday location?

How do you have your coffee?

Favourite song?

Marmite. Love/hate?

Tenerife

Heaven - Dj Sammi remix (first dance wedding song)

Favourite car?

Knight Rider (Kit)

Cats/dogs?

Dogs

Go-to drink?

Black Hate

Watch sports/play sports?

Play sports

Tell us a fun fact about yourself?

I live on the south coast, and regularly break out my roller blades whilst my children speed off on their scooters.

Red wine

Sweet/savoury?

Savoury

tony.wood@acorn.ltd.uk 020 8315 5454

The Acorn Group, incorporating:

This newsletter is designed and edited in-house by Acorn’s PR & Marketing Division.

Please contact Adam Smith for more information on 020 8315 6959.

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