10–15 Market Place
Bexleyheath, KentVIEW ALL OUR TRANSACTIONS
Acquired unconditionally in 5 days from Flowdrive. The occupier, FADS, was known to be keen to surrender their remaining lease.
10 – 15 Market Place commanded a very good position in the town and provided large open plan retail accommodation, ideal for the larger discount space users.
Following the acquisition, a premium was paid to FADS to complete an immediate lease surrender and the property prepared for marketing.
Having identified a number of multiple retailers, an individual made an approach to acquire the FH and the property was sold with VP in less than 6 months from purchase.
The unit has, since disposal, been occupied by ALDI and more recently Mothercare who remain in occupation.
- Excellent town centre position
- Adjacent to the town centre bus stop
- Large unbroken floor plate
- To take a surrender to offer the property to the market
- To realise ERV, a rent well above that paid by FADS
- To market a large quantum of space, stock which was not readily in supply
- FADS rent below market value
- FADS lease had a reasonable unexpired period
- FADS would require a premium to vacate
- Whilst discussions had taken place, final agreement of the premium payable to FADS was not agreed
- The fabric of the building was in need of identified repair
- Void risk once the surrender was completed