Our London Bridge office was initially instructed to acquire The Clipper from Enterprise Inns in August 2013. Shortly after the purchase, McCullochs submitted a planning application to Southwark Council for a comprehensive program of redevelopment, however the application was unsuccessful. Following the refusal, our London Bridge team were instructed to dispose of McCullochs interest unconditionally. We therefore undertook an intensive marketing campaign in order to maximise the value of this versatile site.
The Clipper is a well-located detached freehold pub on Rotherhithe Street, within a short distance from Bermondsey Underground Station (Jubilee Line), Rotherhithe and Surrey Quays (London Overground) Stations. The existing property is approximately 4,670 sqft laid out over three floors, and offered clear potential to convert and extend. Our
client, following the refusal had looked to capitalise on the conversion potential in the open market.
We undertook an intensive open marketing campaign which included listing on our corporate website and circulation of details throughout London's property market. Within 2 weeks of marketing we had several offers from a range of private developers. Given the level of interest, we were in a position to conclude the sale within a week of agreeing the price. Contracts completed within 4 weeks from exchange.
PROJECT ADDRESS: 562 Rotherhithe Street, London SE16
CLIENT: McCulloch Homes
PROJECT DATE: May 2016