Hnf was instructed on a highly reversionary retail investment in Norbury on 27th July 2017. With our client requiring a quick sale we undertook an intense marketing process offering the property to known investors known to be buying from existing resources and able to meet a tight timetable. Several offers were received below the asking price but after negotiations, a sale was agreed at our asking price of £1.35m with an established buyer with a good track record. Solicitors were instructed on the 3rd August. We assisted the vendor arranging some amendments to title plans and the matter exchanged contracts on 20th August, completing some 2 weeks later. Thus, from instruction, our client had receipt of the proceeds of sale within 5 weeks. The investment was sold at a gross yield of under 3% reflecting its highly reversionary nature and future development potential.
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