Our involvement with this used car lot adjacent to Surrey Quays Station stretches back many years. Part-owned by the occupier and partly by a private family, the challenge wasn't so much whether a sale would be made, but when and by what means.
To the family the property was inheritance, and the proceeds would be split multiple ways. Their sole motivation, therefore, was to achieve the best price. To the owner-occupier though, whilst a sale was appealing it would prove a wrench to leave the site after 30 years, and there had always been a need to relocate the business.
We undertook a marketing exercise in 2019 that generated a host of strong offers, but weren't able to agree terms to the satisfaction of both sellers. Nevertheless, we remained in touch with the family's solicitor, owner-occupier and the best bidder, and eventually agreed an unconditional deal in late 2020. Contracts were exchanged expeditiously, and completion took place in March 2021.
At completion we further agreed for South London Car Sales to re-occupy on a rolling licence whilst the new owners explore various options for the site.
PROJECT ADDRESS: 17-27 Rotherhithe Old Road, London SE16 2PP