Back in 2018 Acorn identified this industrial site in Greenwich as one that offered obvious development potential, and approached the owner. A developer had an option over the site, however planning was at the very early stages and nothing materialised.
In late 2021 we noticed a planning application for 53 flats plus commercial had been submitted by the freeholder. Despite numerous calls, meetings and zooms over the course of 12 months to try and win the business, the owners accepted a direct offer. After suffering delays with their purchaser in and around the Truss debacle, they reached out to see whether we would have a buyer to step in.
We quickly approached a retained client that we knew had the capability and appetite to purchase a site of this size.
A few weeks later, terms were agreed, and after 10 weeks of legals and due diligence which included a soil investigation and an amendment to the s106, contracts were exchanged. Completion followed in October 2023.
Whilst we were originally trying to win the agency business to sell the site, circumstances dictated that we ultimately acted for the buyer. Both parties were delighted with the result, and the buyer intends to re-submit plans for an alternative use… watch this space
PROJECT ADDRESS: 141 Woolwich Road, London, SE10 0RJ
