A prominent corner site acquired on an unconditional basis for a private client from Development Securities, with NCP in occupation.
Operated as a public car park adjacent to Bexleyheath's busy Broadway Shopping Centre, the lease to NCP was renegotiated following our client's acquisition to allow for earlier termination.
Planning permission was secured at local level for a landmark mixed-use scheme comprising a 92 bedroom hotel, 43 residential units, approx 15,000 sqft of retail/leisure space and a replacement public car park underground.
Acorn's Commercial team negotiated the pre-letting of the hotel to Premier Inn Hotels, and part of the commercial space to Brewer's Fayre (another of the Whitbread stable of brands). The residential element was pre-sold to Hyde Housing Association, and a strategy put in place for the operation of the public car park.
In spite of the economic climate funding was secured for the project, and construction began in late 2012. Practical completion is scheduled for Autumn 2014.
Acorn do far more than simply manage acquisitions and disposals. Our expertise is far reaching such that we can advise and manage the identification, conception, promotion and facilitation of complicated mixed-use projects.
