By uncovering critical planning documentation, we unlocked the true value of a development site in Redhill, Surrey, enabling us to secure a fast profit for our client. This was achieved through our specialist knowledge and proactive approach.
Harston+Co were appointed as sole agent to market a residential development site on Oakdene Road in Redhill, Surrey. The property had been acquired via a national auction house but with a very limited legal pack. The property had previously been marketed as a detached house. We repositioned the marketing and presented it as a residential development opportunity, with planning approved for an extension and conversion into five flats.
We identified that key planning documents were missing from the Reigate and Banfield Council’s planning portal. Neither the vendor’s solicitor nor the Council could locate the physical plans.
Recognising that these documents would be fundamental to unlock the site’s true value, we took a proactive approach and managed to trace a previous owner who still held the original plans. We made face-to-face contact on a Sunday and secured the missing documentation.
The property sold just two weeks later for 18% more than its previous asking price, demonstrating the value of specialist commercial expertise, meticulous due diligence, fresh thinking, and a bit of tenacity.
We sourced an off-market development opportunity on behalf of a longstanding client. Harston+Co were in a unique position to make the deal happen, leveraging a long-established relationship to win a highly competitive bidding process and managing what proved to be a complex transaction, requiring a high level of expertise.
Harston+Co were retained by a longstanding client to source development sites. We brought our client an off-market opportunity through a historic relationship with the seller’s agent. This relationship put us in a position to win a competitive bidding process, despite not putting forward the highest bid.
The property is a landmark building in Palmers Green, North London, developed in 1920 for Evans and Davies department store. The property was spread over 20,000 square feet with the upper floors having been most recently used as offices by Enfield council. Planning consent had been granted to convert the upper parts into 13 apartments with potential for further development on the roof space, retaining retail use on the ground floor.
Once agreed, the transaction proved to be complex, due to a telephone mast on the roof of the building. In order to satisfy our client’s lender, we needed to agree the relocation of the telephone mast prior to the commencement of development works, requiring consultation with specialist advisors. We successfully delivered a solution, enabling the transaction to proceed.
We initially advised our client on the acquisition of a mixed-use building on Orford Road in Walthamstow Village in 2011. We continued to support our client throughout their ownership, advising on planning and redevelopment of the property, before securing a letting to GAIL’s Bakery above asking rent. The transaction attracted national media coverage and demonstrated the value of a long-term, strategic approach to asset management.
Over ten years after we advised our client on the initial acquisition of the property through auction, we subsequently provided professional advice as they secured planning permission to redevelop and reconfigure the building to maximise their asset.
Once the development and reconfiguration works neared completion, we launched a comprehensive marketing campaign for the vacant commercial unit, generating a great deal of interest and securing several quality offers.
Terms were agreed with GAIL’S Bakery in excess of the asking price. A lease was completed within one month of solicitors being instructed. The high-profile letting in Walthamstow Village generated national media coverage.
This project reflects our ability to support clients throughout the entire lifecycle of an asset, ensuring investment potential is fully realised.
Following a strategic review of the lease arrangements across a portfolio of three commercial units, we successfully increased our client’s rental income by 20% and recovered a substantial amount of outstanding backdated rent.
We were appointed to act on behalf of a privately held investment company that owns 3 x commercial units on High Road in Tottenham, London. After a comprehensive review of the existing leases, we identified opportunities to increase the income on all 3 units. As a result of the rent reviews, we were able to secure a 20% increase in income and recuperate a substantial amount of backdated rent that was owed.
Following previously unsuccessful attempts at selling as a single portfolio, we were appointed to sell multiple commercial units in Reading town centre. We took a strategic approach to break up the units, which attracted a greater pool of buyers and achieved additional profit for our client.
We were appointed to sell a portfolio of commercial units within a prominent building in Reading town centre, which had previously failed to sell in an auction.
Upon instruction, we identified a shift in demand towards smaller commercial units and devised a new strategy to market the units individually. This strategy unlocked additional demand and profit potential.
Our marketing attracted significant interest. We secured strong offers for all units, successfully achieving a combined profit in excess of the original asking price.
We were instructed to sell a substantial 3-storey building near Norwood Road in South London. We presented and marketed the property to target both residential developers and alternative commercial users, unlocking additional demand and attracting a strong cash buyer.
We were approached to sell a residential development opportunity in South London. The 3-storey building provides over 9,000 square feet (842 square metres) and had been the subject of previous planning applications for a change of use to residential.
Upon instruction, we identified potential for additional commercial uses and carried out a comprehensive marketing plan based on this analysis. We generated significant interest from a range of buyers and ultimately secured the strongest offer from a cash buyer for an alternative commercial use.
The property was purchased for a charity to occupy and will be converted into a museum. The charity, the Antiquarian Horological Society, is a UK-based educational charity dedicated to the study, preservation, and understanding of clocks, watches, sundials, and timekeeping history.
Repurposing the property will establish sustainable long-term use for the building and delivered an excellent outcome for our client through a faster and more straightforward sale, without compromising on asking price.
We were appointed by a family office to asset manage a mixed-use property in Tulse Hill, London. Through the execution of a tailored asset management strategy, we transformed the underperforming commercial element into a secure, high-yielding investment. By letting the reconfigured property to Tesco and Screwfix on index-linked leases, we delivered a 335% increase in rental income and a multi-million-pound uplift in capital value.
At handover, there was a tenant occupying the full commercial space, paying approximately 25% of what we considered to be the market rent. We negotiated with the tenant an early surrender of their lease, which then enabled us to enhance the income and tenant profile.
After securing a change of use, we let part of the commercial space to Tesco in an off-market transaction, leveraging our historic relationship from previous transactions. We then comprehensively marketed the vacant part, securing offers from a number of high-profile tenants. We completed a lease with Screwfix, retaining the land to the rear of the property for future development, achieving an overall rent increase of approximately 335%.
Splitting the property and letting to two strong blue chip covenant tenants, with indexed-linked leases in place and a significant increase in passing rent, resulted in a multi-million-pound increase in capital value for our client.