Well-located in a lovely street close to Chislehurst Station, this unbroken apartment block was undoubtedly the most sought-after property that we sold during the third quarter.
The post-war building is arranged to comprise four spacious 2 bedroom flats; each with an undercroft garage, off-street parking and communal gardens. The property had been held as a family investment for many years, and was sold to help fund our clients' retirement. Offered subject to four ASTs and producing £51,180pa, the property appears to offer development potential, albeit an application had been refused for an additional two apartments. Nevertheless, our marketing generated more than 100 enquiries, and 20 offers in excess of the guide!
Several rounds of bidding were required to whittle down the interest, and we ultimately achieved 20% more than our clients expected. Indeed the final sale price for the unbroken block with tenants in situ was more than the piecemeal value of the four apartments with vacant possession. Residential investments are clearly highly sought-after at present, so if you have a similar property to sell please get in touch.
PROJECT ADDRESS: Beechbrook House, Lubbock Road, Chislehurst, Kent BR7 5JL