_Knight Frank Auctions adopt dual sales strategy in South London

The property, located in Beckenham, Bromley, comprises four shops with 12 flats above and a mews building at the rear comprising three flats, majority let at a total passing rent of £223,200 per annum.

Richard Watson, Head of Knight Frank Auctions, comments: “To be able to offer our clients a joined-up, cross-group service to ensure that a property of this type is exposed to the whole market is very exciting; it is certainly a USP for Knight Frank. We expect the property to be bought by the private investor market, the lifeblood of the auction market, but because of its capital value, it makes sense to involve more teams.”

The sales strategy was agreed between the Knight Frank Auctions and Residential Investment teams, maximising the best-in-class market exposure to the private and high net worth market through the Residential Investment team, together with the Auction team’s know-how of expediting auction contract sales and their strong pool of liquid and motivated purchasers.

The property is an unbroken mixed-used freehold parade within the M25. Such unbroken parades have become a scarcity and are highly prized by private investors, and we hope this will heighten its appeal.

Harrison Collins, Partner, Residential Investments comments: “We are delighted to be working with the Auction Team on this rare period unbroken freehold opportunity in Beckenham. Mixed-use assets are seen by investors as an attractive asset during periods of economic stress, and appetite for investment opportunities remains resilient, particularly that the property offers investors the chance to create additional value add through refurbishment and asset management.”

Richard Watson raises the point that a dual sales approach is not a fresh idea, and he has witnessed the success of this approach in previous roles. He feels Knight Frank can offer a much enhanced, almost un-paralleled service here, with its market-leading Residential Investment teams acting jointly with the Auctions team to provide certainty of sale in a timely manner on an unconditional basis.

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