The following provides you with some examples of work we have been involved in, in the recent past.
Palmers Green – Triangle House – Off market disposal
We were delighted to complete the off-market sale of this 21,000 sq ft, mixed use, retail and office building in the popular North London suburb of Palmers Green, N13.
The property comprises two shops at ground floor with 14,000 sq ft of vacant office space formerly occupied by Enfield Borough Council. The vendor had secured permitted development rights to convert the upper parts into 13 apartments, whilst during the limited marketing campaign, a positive pre-app from the Council was received to support the creation of a new third floor and the creation of a further 7 apartments.
A selected marketing campaign was undertaken focusing on developers active specifically in the North London and Build To Rent sectors and a strong price was received after receiving a number of bids.
In this transaction, pricing and choosing the right party to treat with were paramount!
Chingford Mount
We were delighted to be recommended to a family property company to assist them in formulating a strategy for a mixed use parade in the popular London suburb of Chingford Mount.
The company had owned the parade for decades and had been approached by a national supermarket chain who were keen to develop a new store on the site. The parade was part income producing and part cleared site which had a planning consent on it for a mixed use commercial/residential scheme which was fast approaching expiry.
We undertook various development appraisals for the client to ascertain if the scheme could be developed profitably based upon the terms offered by the supermarket, but it became obvious that they could not justify the rent that we needed to in order to make the scheme stack financially.
A decision was subsequently made to market the vacant site and a major campaign was instigated which led to almost 30 bids being received, and a sale price in excess of 50% above the quoting price being achieved.
Coulsdon – HQ Office building acquired off market for corporate client
We were asked to assist a corporate entity in their search for a new headquarters building in 2019. At the time, a suitable freehold could not be acquired however we were able to upsize the client in their existing building which resolved the issue in the short term and tenant breaks were negotiated into their new lease to allow future flexibility.
The clients business has continued to grow, and therefore the search re-commenced in the summer of 2021 to find a building suitable to house this ever expanding business, whilst maintaining their representation in the same part of south London in an effort to retain as many of its very valuable members of staff as possible. (A major requirement for the business).
Ward property undertook a detailed search of potentially suitable buildings within the target area based upon location and size, and t his building was highlighted as a potential target. The landlord was canvassed and a dialogue established. 15 months later, and after a lot of time and effort was expended by all involved, we completed the purchase and are now full steam ahead planning for the extensive refurbishment to ensure that the building provides a first class place to work for its employees.