3rd time lucky in tricky owner occupier market

Pre COVID, a small owner occupier property would be sold quickly and with a high chance of success on the first attempt and if a sale failed, there would be a long list of under bidders that could be relied upon to pick up the baton.

In the COVID / post COVID environment, there are far fewer owner occupiers in the market and the due diligence that is now taking place by their banks and lending sources appears way beyond previous experience.

After 2 false starts, Ashurst Real Estate is finally delighted to announce the sale of the virtual freehold interest of 27 Mount Pleasant, London WC1X 0AS which is a historic, ground floor and basement commercial property that had been in the same private client ownership for over 20 years.

This odyssey of a sale has highlighted the much more stringent due diligence and lending requirements over previous times and building owners considering a sale should take note that many aspects of property ownership that might have been previously overlooked are now under scrutiny and can cause a sale to falter.

The property has been sold to The Vintage Showroom, a globally renowned vintage menswear archive who are naturally excited to provide a new permanent home for their business.

The Vintage Showroom represented themselves in this transaction whilst the vendor of 27 Mount Pleasant was represented by Ashurst Real Estate.

Call Ashurst Real Estate if you wish to sell a building. 020 7419 5117.