Acting for the partners of PJH Solicitors, we've recently concluded the sale and leaseback of their prominent headquarters building, Kelsey House, in central Beckenham. The detached building comprises a ground floor bar/restaurant, with four floors of offices and a residential apartment above - mixed-use in the truest regard!
Offering future potential for active management, extension and/or conversion to residential, our instructions were to generate maximum interest in order to achieve the best possible freehold value. Our marketing campaign was a resounding success, and several offers were received above the guide for a variety of different uses.
We ultimately concluded a sale to a private commercial investor at more than £4,000,000 - a figure that reflects a healthy £270/sqft, and a NIY of just 6%. The new owner intends to maintain the commercial use, and a leaseback deal was agreed to secure PJH's occupation in the building.
Would a sale and leaseback deal work for your business? Please contact us for some confidential advice, free of charge.
PROJECT ADDRESS: Kelsey House, 77 High Street, Beckenham BR3 1AN
PROJECT VALUE: £4,000,000
PROJECT DATE: June 2017
CLIENT: PJH Solicitors