An unnamed property company has acquired the freehold interest in 51-53 High Street in Sutton, Surrey, for £1.25m.
The building, which is situated in a prominent position, comprises a ground floor retail unit let on a recently renewed lease to Lloyds Bank, ancillary space on the ground floor and two upper floors offering the potential for residential conversion into up to seven flats.
Martin Clark, partner at SHW, which acted for a private client on the sale, said: “There is a lot going on in Sutton town centre, with Sutton Council announcing the funding for the refurbishment of St Nicholas Shopping Centre and new residential development taking place on the back of wider inward investment.
“Our marketing generated a good deal of interest from investors who want to obtain a slice of Sutton’s future and engineered a situation where buyers made their best bids. SHW renewed the lease, created the vision drawings for the flats and found the buyer – a great result for our client.”
