Bateman’s Yard, Tooting, London, SW17 0RG
The Brief
The client was interested in residential development opportunities. Based in Clapham (South West London) they were particularly interested in local opportunities as they are hands on in their development projects.
The Property
The property comprised a mixed use scheme arranged over ground and two upper floors. At ground floor the property provided six commercial units and at first and second floor there are nine apartments. The situation has the significant benefit of being located under 100m from Tooting Broadway Tube Station no the Northern Line.
The Deal
The property presented an interesting opportunity in that the existing developer had run into financial difficulties so it was a part finished development. However, this was balanced by the location which inevitably attracted a lot of interest. LRI assisted the client in financial modelling for the commercial element where they concluded the best use was to merge the units and put a single leisure operator. This combined with their residential experience gave them the confidence to put in a competitive and ultimately successful bid.
Register