We've been advising the long-term owners of this prominent building on Bexleyheath's busy Broadway for many years. We have an Acorn branch in the ground floor, and also let the adjacent unit a couple of years ago.
Our advice goes deeper though, and was tailored around the clients' desire to improve their own office accommodation, and maximise the value of the asset. When Permitted Development rights were changed to more readily enable office to residential conversions we highlighted the fact that the property offered great potential. The office space arranged over the upper floors was vast, but tired and inefficient. We introduced architects and other professional consultants, and over five years or so several planning applications were pursued.
Firstly our clients secured permission to alter and extend the ground floor in order to provide c5,000 sqft of modern offices for their own occupation. They then made a prior approval application for the conversion of the upper floors to provide 18 apartments, followed by a further application for 7 more flats in a new third floor.
After completing the ground floor works and successfully moving their business, we were appointed to manage the marketing of the vacant development opportunity. This was far from a straightforward deal, but we were able to conclude a sale of the freehold to a local developer at a premium price, with the commercial investment retained by the sellers on a long lease.
PROJECT ADDRESS: Broadway House, 210-214 Broadway, Bexleyheath, Kent DA6 7BG