The former West Norwood Fire Station is without a doubt one of the most hotlycontested properties we've ever sold.
Our Development team fielded several hundred enquiries following a national marketing campaign, and the block viewings can only be described as bedlam! It was never in doubt that a buyer would be found for a consented development site in South East London, but just how much could we achieve for our client? Preparation is the key in these matters, and we spent weeks collating surveys, existing and approved plans, committee reports, supporting statements, decision notices, S106 Agreements and even the specifics of the car club scheme. This enabled us to immediately furnish prospective purchasers with everything they might require to appraise the site, and in an easily navigable format (experienced buyers will appreciate my point). Most importantly though, our marketing pack included a detailed sales & marketing report generated personally by Akin Kara, Director of Acorn New Homes; South London's largest new homes selling agent. This information is invaluable to buyers, their banks and investors, and helps us ensure we achieve the very best residual land value.
So, how did the marketing go? Well, we guided the site at £3.95m, which for 20 private units equates to almost £200,000 per plot. We accepted an offer of £4.5m, and exchanged contracts just 24 hours later. That's £225,000 per plot, and can only be declared a good result! If you have a development site with a planning consent, it might just be worth a little more than you thought - so get in touch!
PROJECT ADDRESS: Former West Norwood Fire Station, 445 Norwood Road, London SE27 9DG