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Requirement - Purchase
Office to Residential Conversion
Purchase Price £42m
GDV £80m
2014
An unusual development deal on London’s grandest square. This is a trophy building and few clients have the vision for such a property - even if many would like to own it.
Requirement - Development/Refurbishment
Unmodernised 4 Bedroom Apartment
Purchase Price £2.25m
GDV £4.5m
2014
This is an example of a more recent trend in London property. Our client, a developer, had been exhaustively looking through Chelsea and Belgravia for a refurbishment opportunity. He came to us in the hope of finding something which was not on the open market. However, we found him a property which had been on the market for over a year. Whilst it had seemed fully priced at the start of its marketing, a year on it seemed reasonable - especially when you could add 400 sq ft. The developer is on track to exceed his profit on cost expectation.
Requirement - Sale
Office Building
Purchase Price £6m
GDV £11m
2013
Having brokered this complicated office transaction for our client, there was an obvious planning gain for conversion back into residential. Nevertheless, the rebound in the office market meant that the buyer never attempted to develop this and sold it for a significant gain 18 months later.