Interest in commercial properties across all sectors of the industry continues unabated, and in some instances we're still experiencing
strong competition for favoured trading positions.
We work closely with several departments within Savills, and were contacted by their estates team to advise on the value and marketing of a car showroom and forecourt owned by the Crown Estate. The site is one of four similar on a half mile stretch of Sidcup Road (A20); all of which became vacant in early 2023. Despite the mass departure, replacement tenants were found for all four sites within a relatively short window.
The Crown's site extends to just under half an acre and comprises c2,500sqft of buildings, a canopy and display parking for more than
50 vehicles. We invited rental offers in excess of £65,000pax and our marketing quickly generated interest from a host of local and national operators. Demand from two top-end roadside operators drove the price, with Thrifty ultimately taking a 10 year lease at an initial rent of £100,000pax.
PROJECT ADDRESS: 550 Sidcup Road, Mottingham, London SE9 3AF
