During the final quarter of 2016, our investment team were appointed to manage the marketing and sale of this attractive mixed-use freehold in Dulwich by a long term client of the Group. Well-located on sought-after Lordship Lane; the property comprises a large ground floor A1 retail unit with two x 3 bedroom and one x 4 bedroom flats in the upper parts all let on ASTs (Assured Shorthold Tenancies).
Our initial appraisal advice was tailored to suit the property and profile of the clients requirements and prevailing market conditions. In tandem with a high profile marketing campaign, we encouraged our client to engage the services of a recommended solicitor to prepare a legal pack, in order to ensure a quick and efficient exchange of contracts. After holding various block viewings with a number of interested parties, we received a host of offers and promptly concluded a sale at £150,000 in excess of the guide price which, on the basis of current income, reflects a NIY (net initial yield) of
just 3.79%! Needless to say, our efforts in securing such a robust price for the property resulted in a very happy client.
As always, we would be delighted to hear from any property owners who require expert advice on how best to maximise the value of an individual asset or portfolio.
PROJECT ADDRESS: 128-130 Lordship Lane, East Dulwich, London SE22 8HD
CLIENT: Private Landlord
PROJECT VALUE: £2,000,000
PROJECT DATE: January 2017