The challenge.

Holbrook house is located in Maidstone, Kent and is a Permitted Development build, converting office space to residential. The building is on a busy, pedestrian side road. It sits between multiple bar venues. The single largest challenge here is the fact that the 6, 1 bedroom apartments are located above a beauty and hair salon on the ground floor. This resulted in buyers having to be cash funded due to the lack of mortgage lenders who would consider these apartments as acceptable for security.

discounts, it was processing the deluge of applicants!

Our solution.

Conscious that most buyers would be investors, our experience was that pre-let apartments sell well, we suggested to the developer that we rent 50% of the available units. This was achieved within 2 weeks of our instruction. We then began marketing to both investors and first time buyers, on the clear stipulation what they would need to have liquidity in order to proceed.

The result.

The pre-let units were sold within the month. The remaining units were then also let and we repeated the process. We then advised the developer to apply for roof-space addition and planning for an infill area we identified. Ultimately we sold the freehold with planning and the developer fully exited.