Latest PDR deal completed
Britannia House typifies the type the poorer quality office space which the Government had in mind when relaxing the planning laws surrounding change of use from B1 office to residential use. Following a short marketing period, unconditional contracts were exchanged within 5 days at a price well in excess of the Sellers original expectations. The property will be converted to provide over 40 new homes, whilst retaining a retail use at ground floor, providing a new lease of life to this otherwise unviable building.
Since the introduction of Permitted Development Rights (PDR) allowing the change of use offices to residential, Kingsbury have become established as market leaders in the acquisition, sale and management of sale of PD schemes, having already completed sales for in excess of 1,280 units.
If you own an office premises which could benefit from PDR anywhere in England, please contact Paul Heale on 020 7183 2529 or firstname.lastname@example.org for initial advice.
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- Sold for £6,650,000
- Brittania House North Finchley London N12
- 22,000 sq.ft. freehold building
- Permitted Development Rights for 24 apartments
- Part let producing circa £76,450 per annum
- Final sale value in excess of guide price
Kingsburys track record with these types of office buildings speaks for itself, and this experience was apparent when advising us on the most beneficial route to take to achieve a sale