Freehold commercial properties are proving a hot commodity at present, and particularly those with development potential.
When the long-established legal practice of Gough, Clinton & Broom was taken over by TG Baynes, their former offices on Bellegrove Road became surplus to requirements. Extending to over 3,000sqft and with a large yard to the rear, the property was ripe for redevelopment. The partners made an application under permitted development rights for the creation of 4 flats above a small ground floor retail unit.
We were asked for advice on the possible sale of the property, and the owners were delighted to hear that we anticipated a value of at least £675,000. As is typically the case our marketing generated considerable interest, and we held several busy block viewings. Numerous offers were received, and a deal agreed with local developers with a long track record in the immediate area. In spite of the lockdown the sale successfully completed in April 2020, and at £720,000. Needless to say our clients were delighted!
If you have commercial premises to sell from a merger, acquisition or maybe just as a result of a change in operating practice, please contact one of our offices for a free, confidential appraisal.
PROJECT ADDRESS: 104 & 106 Bellegrove Road, Welling, Kent DA16 3QD