Prominently positioned, derelict and offering clear development potential, Acorn approached the owner of this site back in 2017 to see whether they would sell.
After laying out the different options available which included an unconditional sale, subject to planning, or a disposal once planning had been achieved, the owner decided to pursue planning permission themselves. Over the years we advised with viability, unit design and market conditions, and once planning was granted in January 2024 we were instructed to sell the site.
We received over 50 enquires resulting in several offers. After one false start with a buyer who struggled to secure finance, terms were re-agreed to a developer purchasing with cash reserves, and in 28 days contracts were exchanged.
In this situation, the owner added value through achieving planning permission before selling, and it's often the case that we will sit in the background and advise during the process with the aim of making the site as saleable as possible.
Like many of the local residents, we look forward to seeing the derelict building demolished and 10 brand new flats built!
Please feel free to get in touch if you're looking for advice on the potential of your site.
