In the Spring of 2020 our Commercial team was asked to advise on the likely value of a freehold commercial property in Greenwich due to become vacant. The new client had owned the building since the late 1980's, but after many years of reliable income decided the time was right to sell, rather than re-let.
Unbroken freeholds don't often change hands in Greenwich, so we were ready for a surge of interest as soon as the property hit the market.
Despite having just come out of the first national lockdown, and with social distancing and many other Covid-19 restrictions still in place we received numerous enquiries from investors, developers & owner occupiers. As a result we carried out three busy viewing days (Covid-compliant of course), and a dozen offers were received on the bid deadline.
The chosen buyer exchanged contracts within 14 days of receiving the legal pack, and completed shortly thereafter.
All in all a great result given that the property was marketed in the middle of a global pandemic, and sold at a price comfortably in excess of the guide.
We think we're pretty good at maximising the value of this type of asset, but don't take our word for it; this is what our first time client had to say - "I would very much like to express my appreciation of the efficient and tenacious service received from Acorn, and in particular Jamie Stevenson. The prompt generation of a variety of offers enabled the sale to go through quickly and smoothly, much to my relief. All was done with great commitment and enthusiasm, and I would absolutely recommend the services of Acorn Commercial".
If you have a commercial property that you are considering letting or selling please don't hesitate to get in contact. We're here to help with free, friendly advice.
PROJECT ADDRESS: 121 Trafalgar Road, Greenwich, London SE10 9TY