Our preference is always to openly market any property simply because our reach is so vast, that by marketing far and wide we can be sure that the very best price is forthcoming. Occasionally though, a seller might prefer that marketing is more exclusive, or that we introduce a retained client.
In this case the sellers were willing to part with their unbroken block of 10 flats, but only at a certain price. We weren't afforded the opportunity of a full marketing campaign, but were still able to canvas our database of more than 15,000 applicants on a generic basis
A dozen or so strong responses were received from our circular which led to several offers. Terms were agreed with overseas investors in early December 2023, and unconditional contracts exchanged before Christmas.
The block in question was fully let on ASTs producing £201,000 pa. The sale price was £3M; reflecting a NIY of 6.34%.
We have a long list of buyers for unbroken freehold blocks so if you have a similar property to sell please get in touch.
PROJECT ADDRESS: 33 Campshill Road, Lewisham, London SE13 6QU
