SHW completes sale of Norbury residential development site

SHW, on behalf of Ernle Estates Ltd, has sold the freehold interest in 82 Pollards Hill North in Norbury, London SW16 to Langham Property Co Ltd for £1,275,000.

The 0.672-acre residential development site has been sold with planning permission for the demolition of the existing dwelling and erection of five new houses with associated car parking, cycle parking, refuse storage and landscaping.

82 Pollards Hill North is situated on the Northern side of Pollard Hills, in an ideal location with Croydon town centre located 2.4 miles south, and Norbury town centre 0.6 miles to the north. The potential new scheme proposes a mix of three and four-bedroom detached houses and two semi-detached houses, incorporating shared outdoor amenity space in the form of a children’s play areas and natural wildlife area.

Mark Cook, Director of Ernle Estates Ltd, says: “It was a great pleasure working with Richard and Alexi at SHW. It had taken us 16 years to obtain planning permission, so it was very important indeed to achieve the best price. Fortuitously, the SHW team have a very good understanding of the values in the area and an excellent knowledge of who the serious purchasers are.”

Alexi Borg, of SHW, comments: “Now more than ever, securing a purchaser with a strong track record and the ability to source favourable rates and ultimately perform to agreed terms and timescales is paramount.

“Following a concise marketing campaign, it was encouraging to see the high level of demand for the opportunity from a range of developers. The process highlighted a sustained eagerness for consented, smaller scale, manageable housing opportunities in the region, despite ongoing supply-chain and cost pressures facing the sector. With a sale completion well above guide price, achieved within only 6-weeks from marketing inception, we were just as chuffed as our client.”