Property Investment- Cobdown House
Ditton in Kent
About this project
Following marketing and disposal of a development site, our client commissioned us to identify alternative property investment and development opportunities resulting in the identification and subsequent acquisition of Cobdown House and surrounding land in Ditton, Nr Maidstone, Kent.
This large extended Victorian detached property comprised of occupied offices situated in a parkland setting with potential for further office development.
As part of this property investment we were initially commissioned to manage the property, successfully letting additional office space and increasing income by approximately 75%.
Subsequently, we were instructed to provide Development Consultancy advice in conjunction with our associated sister company, Harrison Mutch Chartered Architects who designed and obtained planning consent for a suitable scheme, in this sensitive parkland site, of a further 375 sqm of new office space.
As part of our role we provided development appraisals and feasibility studies for the new build offices, the construction of which was Project Managed by Harrison Mutch.
Since starting the construction of the building, the UK was deep into the “credit crunch” and recession which provided significant challenges to disposing of the completed office building.
Harrisons Commercial Agency department were able to dispose of the newly completed office building to the Kent County Football Association and to overcome the funding shortages which prevailed at the time, the transaction was structured to include a part exchange property, in a different location, and a private funding agreement between the purchaser and the client.