The Property
Arranged entirely over ground floor, the three units provide 5,500 sqft GIA of floorspace, fronting Bromley's High Street and benefitting from flexible commercial use.
Occupying a prominent position in the heart of Bromley’s town centre, the property occupies a prime pitch, midway along the High Street and adjacent to the main entrance of The Glades Shopping Centre.
The Transaction
We acted on behalf of a retained client as sole agent in the sale of the three units. The units were sold on new 999 year leases at peppercorn ground rent (virtual freehold), and with the benefit of flexible permitted use within the long leases in order to enhance their value. All three units were sold in a single transaction, and with vacant possession provided on completion. The transaction was completed off market.
This sale exchanged and completed simultaneously with completion of our clients freehold acquisition of the wider building. Aside from the subject three commercial units, the wider property comprised six over-sized flats, and benefitted from full planning permission for a newly-built development arranged over twelve storeys comprising ground floor retail space plus forty seven apartments.
Prior to the sale of the three commercial units, we acted as sole agents in acquiring the freehold property for our clients.
Click here to see further details of the freehold acquisition of the wider building.
Location
