GCW has advised CBRE IM on the £4.02 million sale of its East Sheen asset 270- 282 Upper Richmond Road.
CBRE IM disposed of the mixed use parade in November. The sale attracted significant interest from investors keen to secure a prime asset at the heart of the affluent South West London catchment.
Within the Borough of Richmond Upon Thames, the parade is located adjacent to Waitrose and close to footfall generators, including Amazon Fresh, Superdrug and WH Smith. GCW has helped its client secure a robust non fashion tenant profile and continued to drive value through strategic asset management.
The parade also offers an attractive value add opportunity. The property incorporates four flats and a viability study undertaken by SEAM Architects outlines the potential to deliver new dwellings and commercial units.
The redevelopment piece proved particularly appealing to investors keen to get a foothold in London’s greenest borough. East Sheen boasts a wealthy loyal catchment with residential sales values achieving more than £850 per sq ft. It has proved a popular choice for young professionals and families, attracted to the local amenities, access to open space, excellent transport links and outstanding schools.
GCW Partner Oli Horton says: “This is a great result for CBRE IM. We have worked closely with them on agency and asset management for the parade, regearing or letting 5 of the 6 units. We’ve maximised value and then secured the sale which reflects the strength of our multi-disciplinary offer.”