20 May 2016
SOUTH BANK INVESTMENT STRONG DESPITE PERCEIVED BREXIT CONCERNS

We have advised on seven commercial sales transactions since the start of the year, highlighting a particular appetite for small to medium sized investment in the market.

The team has sold five properties ranging from 3,000 to 7,000 sq ft for a combined total of almost £20 million including:

- 3 Marshalsea Road, SE1, (6,553 sq ft) sold on behalf of Dorrington to a Private Investor for £5,700,000

- 56 Ayres Street, SE1, (6,920 sq ft) sold on behalf of a Private Investor to TH Real Estate for £5,000,000

- 112-114 Tooley Street, SE1, (4,905 sq ft) sold on behalf of an Owner Occupier to a Private buyer for £3,725,000

- 45 Great Guildford Street, SE1, (3,275 sq ft) sold on behalf of Curb Records to Electrical Safety First for £2,875,000

- 25a Copperfield Street, SE1, (3,261 sq ft) sold on behalf of Sears Davies to Pink Squid for £2,500,000

On the buying side, we have also advised a number of parties acquiring properties in the market, including the FDA who has bought  Ebbark House, 93-95 Borough High Street, SE1 (5,302 sq ft) for £4,500,000 and Oxygen Asset Management, who acquired 82 Lower Marsh, SE1, (436 sq ft) from Greggs for £1,500,000.

Rupert Cowling, Partner, said:  “These transactions demonstrate the appetite for commercial assets below 10,000 sq ft in size across the South Bank market, and that despite the overall slowing down of investment transactions ahead of the European referendum on the 23rd June, there are still deals being done.

“We’ve been saying for some time now that the South Bank represents a microcosm of the broader central London market, where there simply isn’t the supply to meet demand. Therefore it is unsurprising that when good quality, well-located assets come on to the market, there is no shortage of interested parties eager to do a deal.”

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