The Box Portfolio, Charlton
Acquisition of 3 industrial warehouses from a company that had entered administration. Total price of £20.5m.
Identified pre-purchase that the Charlton site would be of interest to housebuilders as a residential development opportunity and therefore generate a higher value than the apportioned price at purchase of £10.5m.
Negotiated an early surrender of the property from the tenant in return for an early dilapidations settlement. The ability to obtain vacant possession was legally documented and the site was marketed for sale.