Summary
A former NatWest premises, the property featured extensive upper parts which would be suitable for conversion to residential.
Once planning consent for the conversion of the upper parts was secured, the residential refurbishment was duly undertaken.
Through its retail agency contacts, BHP was aware of a number of betting shop requirements for Downham given its demographics.
Business Case
STRENGTHS
- Extensive upper parts
- Upper parts already separately accessed
- On site parking
OPPORTUNITIES
- To undertake the refurbishment of the residential apartments separately to the retail
WEAKNESSES
- Apartments of limited value
- No ability to increase the massing
THREATS
- Downham residential values had limited scope for improvement
- The quality of buyer was likely to lead to significant false starts in residential sales