Acquisition and disposal of regeneration site in Lower High Street, Cheltenham for mixed use development.
Distinguished local property developer Mark Casey Limited instructed us to acquire two strategically important adjacent sites from two sellers, for a mixed-use redevelopment. The combined site was in an up-and-coming area of Cheltenham with planning for apartments and commercial units.
Given its prime location the site was in high demand. We needed to move quickly to ensure our client secured both sites simultaneously, against stiff competition from other bidders. The site posed a number of technical challenges, not least the presence of a footpath, and a telecommunications mast belonging to a major mobile provider. Both technical constraints threatened to delay any redevelopment and subsequent disposal.
We acquired the combined site within 2 weeks of instruction – on time and on fixed fee budget. We overcame all technical constraints, including negotiating the surrender of the mobile telecommunications operator’s lease.
As a result, our client was able to dispose of the redeveloped site swiftly to one purchaser, at minimal legal cost to maximise return on investment.