Located in a converted chapel with 5,785 sq ft of space split over four floors, this was no ordinary accommodation.
Instructed by Shaftesbury Young People, the charity working to improve the lives of UK children, KFH began to market the long leasehold interest of this Wandsworth based office. The Grade II listed Royal Victoria Patriotic Building boasts a colourful past and has, since its construction in 1850, been utilised as an orphanage, hospital, school and teacher training college. During World War II, its usage was less prestigious and it became MI6’s ‘London Reception Centre’, otherwise known as an alien clearing station.
Sadly the buildings fell into serious disrepair during the post war years. It was not until much later that the buildings were sold to Tuberg Property Company Ltd for £1, on the proviso that they implemented repair and restoration works. The space was duly reconstructed, and the development became mixed use, incorporating flats, studios, workshops and even a bar and restaurant.
Despite the relatively short period lease (less than 65 years), the property was placed on the market at £1.5million. Initially, residential developers were attracted to the space but, owing to a variety of factors no sale was made.
KFH recommended a renewed marketing campaign with a number of fresh initiatives. As a result, vigorous interest was generated and two occupiers made strong bids on the property. A bidding war ensued and the property was eventually sold to Ralph Sachs for £1.9million, substantially in excess of the client’s expectation.