Thornton Heath, CR7 Ref: 34015

The owner of this freehold industrial property in Thornton Heath acquired it as part of a portfolio in 2021. Inheriting a commercial tenant as part of the deal, the lease was due to expire in June 2024. Having given the owner advice on the planning potential of the site, a decision was made to market the property for rent, as planning permission for development would likely take years. We were tasked with securing a tenant on a short-term flexible basis which would allow the owners to get vacant possession back if planning were to be achieved. With this in mind, we went ahead with a public marketing campaign. Interest was strong from the outset and multiple offers were received from a range of operators including a scaffolding firm, car storage business and a contractors. Terms were agreed with the contracting firm and a surrender of the existing lease was executed simultaneously with the completion of the new lease, and therefore no void period for the owner.

PROJECT ADDRESS: 753-755 London Road, Thornton Heath, Surrey CR7 7PE

Jamie Stevenson

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