In spite of the Brexit vote, our investment team enjoyed a busy period during the summer of 2016; managing the marketing and sale of a number of notable properties across South London and North Kent. Acting on behalf of an International Collective Investment Scheme (ICIS), we concluded the sale of one of their medium term, mixed-use assets to a private local investor.
Well located on sought-after Union Street, and just a few hundred yards from London Bridge station, the subject property comprises B1 offices over ground and lower ground floors, with three 1 bedroom flats over the upper three stories.
With interest rates expected to drop as a result of the 'Leave' vote, we anticipated stronger demand for investments in Central London. With this in mind we chose to employ a high profile marketing campaign in order to maximise value instead of our client's behalf.
Numerous web postings, advertisements in the national property press and mailshots generated strong interest and a host of offers. Ultimately several buyers competed to secure the property, and the successful bidder exchanged contracts in just 3 working days.
Our commercial team hope to be engaged by the new owner to undertake an active management strategy in respect of the office space, whilst our local residential branch will locate tenants for the three vacant flats.
The Acorn Group is multi-faceted and having bought or sold your property, can assist with the ongoing management or redeployment of equity generated.
PROJECT ADDRESS: 6 Union Street, London SE1 1SZ
CLIENT: Private ICIS
SALE PRICE £1,725,000
