Projects


Select a sector to filter projects

Occupy

Investment

Residential

Development

Management

Commercial

Select a sector to filter projects

Occupy

Investment

Residential

Development

Management

Commercial

58-59 Fleet Street - London EC4

JPW Real Estate was instructed to market the freehold interest at 58-59 Fleet Street, London EC4 in June 2007.

The property comprised two retail units trading as Snappy Snaps and Bowing Opticians with 19 flats over let on a ground lease; the total rental income was £129,600 per annum.

We erected a board on the property, prepared a brochure and advertised on line in order to conduct an extensive marketing campaign to find a buyer for this freehold investment. Following an informal tender it was decided to proceed with a joint offer from the two retail tenants. JPW Real Estate managed the due diligence process and advised on the investment sale which was completed in January 2008 at a price of £2,200,000 to show a net initial yield of 5.5%.

The sale posed the following challenges:

  • Selling into a declining market.
  • Delay caused by compliance with the residential tenant’s statutory right of first refusal.
  • Dealing with an inexperienced purchaser who required mortgage finance.
  • Structuring the transaction between the two retailers to give individual ownership and control and yet provide for common management of the building.

Click here to download sales brochure

Copy Of Img 0551

Share this Project