Our investment team has recently completed the sale of two unbroken residential blocks in Bromley to London & District Housing Ltd.
Our residential management team had acted for the private Irish owner for many years; introducing tenants and coordinating renewals etc. With the client keen to reduce her portfolio ready for retirement, we were brought in to advise on the best way to maximise value.
With neither block fully compliant and utilities shared, the decision was made to market each building as a whole rather than on a piecemeal basis.
Whilst the purchase of both buildings was not a prerequisite of the marketing campaign, their proximity and similarity to each other encouraged most interested parties to bid on both.
The national marketing effort guaranteed huge interest and a host of offers. London & District emerged as the most competitive buyers, and their acquisitions completed in February 2015. Given our knowledge of the blocks, we have been retained to manage both estates and the individual tenancies.
If you have a long-standing or unbroken investment that you might consider selling please get in touch - you might be pleasantly surprised by the current value.
