Disposal – Residential Care Home (Disused), London
AU CONSULTANCY undertook the process of mining a commercial property portfolio for a London based local authority on behalf of a client and successfully advised on the sale of a former residential care home.
The subject property had been dormant and in a severely dilapidated condition for over 8 years with the L/L incurring costs as a result of poor management advise and guidance.
AUC got the site valued and advised on the need for a feasibility study and for planning to be sought for the development of the site.
By running a competitive tender process and ensuring clients preferences were accommodated, AUC with our cross-collaborators successfully disposed the site to residential developers for just over £2m.
The site would be developed for residential housing stock, which would be supporting the local authorities drive to have more houses in the borough.