In December 2020, our commercial team was asked to advise on the likely value of a freehold commercial building in Chislehurst. The owner has been considering a sale of the property for a while, and when a partial rent payment was made in the last quarter of 2020, they decided now was the right time to sell.
Unbroken freeholds don't often change hands in Chislehurst, so we knew there would be a wave of interest as soon as the property came to the market.
Word in Chislehurst travels fast and after only two weeks of marketing where we had over 100 enquiries and two busy viewing days, we received over 20 offers. After an offer was accepted contracts were exchanged within 10 days of receipt of legal pack and completed shortly thereafter.
All in all a great result given that the property was an investment opportunity with the current tenant having only paid a reduced rent for the last quarter, and sold at a price which reflected just a 5% return!
PROJECT ADDRESS: 17 Royal Parade, Chislehurst, Kent BR7 6NR