Our London Bridge team undertook an intensive marketing programme to maximise the value of this versatile property in the heart of SE1, owned by a private client.
123 Westminster Bridge Road is a well located commercial freehold building situated under 500 yards from London Waterloo Station. The existing property is approximately 1,500sqft laid out over four floors, and with the right concept and design, offers clear potential to extend vertically and add additional accommodation. Our client had looked to capitalise on this potential, however, was unsuccessful with a planning application in 2011. Following this refusal they let the building out on short term tenancy agreements to four separate tenants.
We undertook an intensive open marketing of the property which included a listing in the Estates Gazette property journal and the circulation of details throughout the London property market. Our marketing strategy was for the property to be in the market for a short window and then to agree and conclude a sale promptly thereafter. Within 3 weeks of initially beginning marketing we had several offers from a range of purchaser profiles including owner occupiers, a well known PLC and multiple private developers. A sale was agreed at the asking price of £950,000. Contracts exchanged within 7 working days from the sale being agreed and placed with solicitors. Completion took place 3 weeks after exchange.
Acorn provide a proactive and efficient agency service focused on maximising value.
