RIB Sell Putney Investment Property
We are delighted to announce the sale of a Putney investment property located at 69-71 Putney High Street.
About the property
Putney is a thriving and affluent suburb of South London located in the London Borough of Wandsworth. Putney is situated around 5 miles southwest of Central London and is a popular living location for commuters, especially young professionals. This Putney investment property is located near the River Thames which is always a major boon for any purchaser. Residents in Putney benefit from the serenity of a riverside location as well as easy access to Central London with Putney also having relatively low residential property values when compared to Fulham and Chelsea located immediately north of the river.
London Waterloo can be reached in under 20 minutes from Putney Station and Clapham Junction Station – the busiest train station in the country and a major transport hub can be reached in 5 minutes, providing access to the Overground as well as direct access to London Victoria. In addition, this Putney investment property is connected to the tube network via the District Line from East Putney and Putney Bridge Tube Stations. In addition, there are numerous bus services into Central London and the South Circular runs directly through the area, leading directly to the A3 and junction 10 of the M25.
The subject Putney investment property is situated centrally within the retail pitch in Putney, on the eastern side of the thoroughfare at 69-71 Putney High Street. The subject property is located on the same side as a number of major retailers including Boots, Paperchase, Mars & Spencer, and Topshop. Other nearby occupiers in the area include Toni & Guy, McDonalds, and Waitrose.
Additionally, the property benefits from not being listed or being situated in a conservation area, making redevelopment of the existing site far easier. In addition, there was an outstanding rent review for 69 Putney High Street which we consider to be highly reversionary. This provides an opportunity to increase the rent or re-gear the lease in order to bring forward vacant possession in line with the mutual option to break the lease for number 71 in August 2018. In addition, given the scale and massing of the buildings along Putney High Street, the property is significantly underdeveloped and we believe that subject to planning permission and vacant possession, redeveloping the site could accommodate a 4-5 stoey building, ground floor retail of circa 1,500 sq ft, 6-8 flats above, and redevelopment of the rear yard to create a minimum of 4 residential units.
“We were delighted to have completed on this deal in the highly sought-after Putney investment market. We are continuing to conduct a large number of transactions outside of our traditional Central London area, both within Greater London and within the rest of the UK as the team continues to grow.” Said Board Director Damien Field when asked to comment.
Do not hesitate to contact a member of our Investment Team if you are looking to sell a property in Putney or anywhere else in London: