Eltham This asset was a 1960’s concrete jungle, which was run down and an eyesore to the rest of the street. We obtained the property with a 40% vacancy rate, and it also had run down maisonettes on the first floor.
Overtime we bought the long leaseholds of the maisonettes to secure vacant possession. In turn the shops were let on very short leases, which could have been seen as problematic, but actually a benefit for our future plans for redevelopment.
Working closely with our architects (DLA) at the time, we created a 129 unit mixed-use scheme; including 3 restaurants, a cafe, convenience store, GP surgery and a pharmacy.
This was then sold on to Cathedral Group who implemented the scheme.