Another PDR Deal Completed!
Since the introduction of Permitted Development Rights (PDR) allowing the change of use offices to residential, Kingsbury have become established as market leaders in the acquisition, sale and management of sale of PD schemes, having already completed sales for in excess of 1,150 units.
One of our latest deals is the sale of a 35,000sq.ft. premises located in Sutton town centre, which benefits from PDR for conversion of the unused office space to around 40 apartments, whilst retaining the retail uses at ground floor level.
On behalf of the PLC owners, we prepared the property to be sold by working with our clients solicitors to collate a detailed data room and legal pack, and then carried out a comprehensive marketing process which resulted in numerous offers being received in excess of the £3.75m guide price. Due to the level of supporting information which we prepare prior to releasing a property for sale, we are able to ensure contracts are swiftly exchanged once a deal is agreed, and in this instance it took less than 24 hours for respective parties to exchange contracts.
If you own an office premises which could benefit from PDR anywhere in England, please contact Paul Heale on 020 7183 2529 or firstname.lastname@example.org for initial advice.
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- Old Inn House 2 Carshalton Road Sutton SM1 4RA
- Permitted Development
- Sale value maximised by intelligent targeted marketing
- Less than 24 hours to exchange contracts
- 35,00sq.ft. town centre freehold
- Permitted Development Rights for residential development
I was delighted that this sale has completed and thanks for your efforts on our behalf
Panther Securities PLC