London, 11 April 2016 – Boultbee Brooks Real Estate has announced the sale of 220-220A/B Queenstown Road, London to TH Real Estate, for £7.7 million.
220-220 A/B Queenstown Road comprises two attractive multi-let period buildings comprising 14,500 sqft of office space arranged over ground and four upper floors, located in the popular area of Battersea in the London Borough of Wandsworth.
Situated on the east side of Queenstown Road at its junction with Ingate Place, circa 200 metres from Queenstown Road mainline railway station, the buildings benefit from quick and direct access to London Waterloo, Vauxhall and Clapham Junction overland railway stations, as well as being a short walk to Battersea Park railway station, providing direct access to Victoria.
Since acquiring the property in 2014, Boultbee Brooks re-geared various of the occupational leases and also achieved prior approval for conversion of part of the premises to residential under the Town and Country Planning (General Permitted Development) Order 2015.
Acting on behalf of the vendor, Robert Cannock of Aurum Real Estate, who advises Boultbee Brooks, said, “Since acquiring the property for our client we received a number of interesting approaches from various parties keen to acquire it. Battersea is a rapidly improving area of London and many of the nearby commercial premises have been converted to residential, but in addition to that potential, these buildings offer small floor plate sizes that are ideally suited to the improving local office occupier market. TH Real Estate made a strong proposal that took account of the building’s future potential and accordingly we were happy to accept their proposal, as it allowed our client to exit ahead of their intended business plan period and with an attractive return on their investment.”
TH Real Estate were advised by Springer Nicolas.