Case Study - Purchase / Acquisition, Development 2
Ref: EK/3/8’07 Eamon Kennedy – Partner Kirkby & Diamond
To source suitable investment opportunities for the client by identifying property with potential capital growth through; redevelopment, refurbishment or a change of planning use.
To identify investment opportunities and carry out a full market appraisal on the property by providing local and regional commercial advice.
Enter into negotiations for a purchase and carry out a formal valuation of the property. Then to complete an immediate exchange of contracts to secure the property, with a delayed completion to maximise time in analysing the properties full potential and identify suitable tenants preventing any large void periods.
Contacting the auction houses and researching the local property markets, identifying propositions that are available, along with properties that owners were willing to sell off-market.
Speaking with local property owners whilst carrying out other forms of commercial property work.
Kirkby and Diamond undertook a thorough search exercise in order to identify suitable investment opportunities, advise the client, liaised with the vendor's surveyors in order to arrange for access to the property and complete a formal appraisal of the premises.
A formal valuation was carried out based on our local market knowledge which enabled us to submit an offer at a level which would realise a good return on the property and hopefully secure the property.
The client acquired the property and we have now found a strong covenant to take occupation of the ground floor premises, whilst looking to convert the upper parts to residential.
The client is happy with the advice Kirkby and Diamond provided in order to maximise the property's full potential.