We acquired this derelict former public house for a private client via auction in early 2016, and were subsequently retained to promote the site for redevelopment.
Given that the building had been vacant since the early 1990's is structurally unstable, not Listed, not protected nor sat in a Conservation Area, many would have expected a straightforward run through planning. The current planning system just doesn't allow for 'straightforward' though, and it took three applications over more than 2 years before planning permission was granted for six luxury apartments above a duplex office unit.
We explored the opportunity to have the development completed for long-term investment, but with consented sites continuing to command a premium the property was offered for sale.
Several offers were received, and terms ultimately agreed with an Indian investment company. Contracts were exchanged promptly at more than 40% of the Gross Development Value, and completion took place in October 2019.
We're always keen to hear from landowners with development opportunities to sell. Consented sites are our specific area of expertise - we'll know to the nearest penny what your site is worth, and always have reliable buyers willing to pay a premium for the right opportunity. Please contact us for a free market appraisal.
PROJECT ADDRESS: 95 Thames Street, Greenwich SE10 9AY
CLIENT: Private investment company
DATE: October 2019
SALE PRICE: £1,694,000