THE PROPERTY:
Thames Way, Gravesend
A 24,000 sq. ft. fully fitted trade counter on a 2.3 acre site. The premises had been vacant for over a year and were in a poor condition. The lease had 11-years remaining, with a gross liability of £3.6m.
WHAT WE DID
As the client’s lease disposal specialist we:
- appointed a leading disposal agent in this sector and undertook remedial works to improve marketability of the site
- established that the freehold value was well below the landlord’s loan, following a market valuation, culminating in the bank supporting a sale
- exchanged contracts to purchase the freehold investment, whilst pursuing a sale with a delayed 6 month completion, to an owner occupier
- saved over £1m by completing the investment purchase simultaneously with an onward sale to an occupier
SERVICES PROVIDED
- Liability pricing
- Disposal option analysis
- Targeted marketing
- Asset management
- Risk transfer execution
- Property management
Find out about our property disposal expertise
Contact the team behind this project >>
Tim Lowe
BSc (Hons) MRICS
Director of Operations
