Streatham Care Home Sold for Assisted Living
Kingsbury have built a reputation on providing our clients with robust and long term strategies, not only for the disposal of their specific property, but for their business and wider portfolio.
This is demonstrated by our involvement in the disposal of Prema House, a 20 room care home located on Gleneagle Road in Streatham which had been operated by the owners for more than 20 years. Having reviewed our client’s existing portfolio of eight care homes, it was identified that Prema House was no longer a viable for operation due to its relatively small size and high running costs. It was agreed that the property would be disposed of and the sale proceeds reinvested into the more profitable establishments.
Prior to commencing our marketing of the property, we arranged for a suitable architect to produce a feasibility study detailing the potential for conversion to residential use. We also ensured that our marketing material highlighted the other potential uses for the building, such as B1 or D1, so that we could appeal to a larger pool of purchasers.
The property was sold after a short marketing period and will be converted to self-contained residential units for assisted living.
If you own an underperforming asset and need advice on how to enhance value, please contact a member of the Kingsbury team
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- Sold for £1,810,000
- 45-47 Gleneagle Road London SW16 6AY
- Corporate Recovery
- Care Home Disposal
- 300m from Streatham Station
Kingsbury dealt with the disposal of the property in a quick and professional manner and provided a great service all the way through to completion.