Streatham SW16

In December 2001, we completed the sale of another school.  The fourth handled by the division in recent times. On this occassion it was for Sainsbury’s Supermarkets who had acquired the former Streatham Modern Boys School, adjacent to their flagship store on Streatham High Road, with a view to extending their existing car park into the disused playground.  With the original five storey period school building in poor order and then surplus to requirements, we advised Sainsbury’s on alternative uses, and ultimately a sale of the remaining freehold interest. A scheme for the conversion of the school into seven luxurious apartments was conceived by architects Essex Goodman & Suggitt, and planning permission granted by the London Borough of Lambeth in Spring last year. Following the grant of planning permission we began marketing the site, from which a number of attractive offers resulted. Competition was strong amongst the short-listed bidders, and a sale agreed to specialist developer Phoenix Logistics Ltd. Phoenix are based just half a mile away in Norbury, and following their recent acquisitions of similar sites in Sydenham, Dulwich and Balham, made the most of their proven track record for maximising value from conversion projects.

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Posted By Acorn Commercial on 30th December, 2001

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