276 Sherwood Park Avenue
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BHP purchased this asset in the knowledge that Threshers were in financial difficulty and with the intention of obtaining VP of the entire.
In order to maximise the gross development value of the site, any redevelopment would include residential uppers.
Upon the demise of Threshers, BHP secured possession of the entire property and re let the off licence to an operator through the Threshers’ receivers.
Vets for Pets was subsequently identified for a pre-let of a retail unit to be developed on the vacant site. Upon securing the necessary planning consent, which included residential upper parts, BHP constructed the new building.
Upon completion of the residential apartments above the Vets for Pets facility, it is the intention to dispose of the entire asset.
- Partially income producing
- Under developed site & suitable for redevelopment
- To secure VP of the site
- To secure a planning consent for the site
- To enhance GDV through the inclusion of residential development in any new build
- Site demised to Threshers
- Threshers in known financial difficulty
- Existing apartment within the Threshers demised area
- Vacant possession of the site could not be guaranteed in the immediate future
- Planning risk