RIB Acquire Brixton Property on Behalf of Investment Client
We were delighted to have assisted with the acquisition of a Brixton property with development potential located at 34 Acre Lane, SW2 5SG.
About the property
Brixton is a well known area within Inner London and is located in Fare Zone 2 of the London transport system, at the southern end of the Victoria Line. It is an area which is well-known for its large Caribbean community as well as Brixton Market and a vibrant nightlife. Brixton is one of 35 London areas which is listed as a major centre in the London Plan. As a result of its central location and relatively low property prices, Brixton is an area which has undergone significant change and redevelopment with a number of new homes being built in the area. In addition, Brixton Market has recently been acquired by private investors with many theorising an increase in food offerings in the area, mirroring investor Teddy Sagi’s purchase and redevelopment of Camden Market.
As a result of all this recent change, Brixton is a highly sought-after London submarket for individuals, funds, and development companies looking for properties with potential to change use, redevelop, or add value. The subject Brixton property which RIB acquired comprises 5,707 sq ft over two stories with double height ceilings. It was an industrial-style building which was classed as shop and premises. The property was sold with a positive pre application for a mixed use unit comprising a 570 sq ft retail unit and 9 apartments. We were additionally advised that this Brixton property also has further scope to add an additional storey or mansard to match the building to the rear, thus increasing the amount of space available for development. In addition, there was further scope to redesign the scheme and deliver townhouses rather than apartments – subject to the preference of the developer.
Speaking to our Head of Commercial Acquisitions Sam Arghebant who purchased this Brixton property, he stated: “Brixton is an area which has undergone significant regeneration in recent years and is now one of the most popular areas to live for young professionals. The combination of relatively low rental values and a central location has made Brixton highly desirable. We were delighted have acquired this Brixton freehold property on behalf of our private client and look forward to seeing the new project which they will be delivering in the near future.”
Please do not hesitate to contact a member of our Investment Team if you are looking to acquire a property in Brixton or anywhere else in London:
Damien Field email@example.com 020 7927 0620
Adam Ben-Harosh firstname.lastname@example.org 020 7927 6331
If you are looking for a property for your own occupation from a purchasing or a leasing perspective, do not hesitate to contact our Head of Commercial Acquisitions Sam Arghebant to discuss your requirement:
Sam Arghebant email@example.com 020 7927 0621