This mixed-use development was completed in 2007, the flats sold off and the two commercial units let to Carphone Warehouse and Tesco. We were approached in 2020 by the owners of the commercial space, who had acquired the commercial units as an investment some years earlier.
Carphone Warehouse had recently vacated, and the Tesco lease was nearing expiration. We were instructed to let the vacant unit and introduced an NHS dental practice on a new 15 year lease. With the NHS letting serving as fresh evidence, we then opened negotiations with Tesco, and agreed a new 10 year lease on improved rental terms.
Once both new leases had completed we were instructed to market the investment. Producing a total rental income of £138,000pax we invited offers in excess of £2.6M for the virtual freehold interest, and ultimately concluded a sale at £2.65M - 4.9%NIY.
PROJECT ADDRESS: 30-32 Streatham Place, London SW2 4QY
