London Bridge Freehold Disposal
Kingsbury have built a reputation of adding value to the property assets dealt with on behalf of their clients.
This is demonstrated again at 97-99 Borough High Street, a 5-storey commercial building in the heart of London Bridge.
Having identified the potential of the property, which was in the hands of Receivers, a purchase was agreed on behalf of a long-standing client, and unconditional contracts exchanged just 2 hours later at the offices of the Receivers’ solicitors.
Dialogue was then opened with the tenant, Coral Bookmakers, who occupied the entire building, to surrender the upper floors whilst enter into a new 15 year lease on the ground floor. At the same time, a planning application was successfully managed to convert and extend the office space to residential use.
Once planning permission was achieved and the tenant’s lease restructured, we coordinated an open market disposal of the property, achieving a price which resulted in a circa 75% profit on cost within an 18 month period.
Projects such as this require technical ability combined with commercial intelligence in order to be able to identify potential and then crystallise this into value.
If you wish to discuss you property requirements, please contact a member of the Kingsbury team.
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- 97-99 Borough High Street London SE1 1NL
- Project Management
- Central London location
- Open Market disposal
Kingsbury achieved a record rent and planning permission against the LPAs policy an excellent result for us