News and Updates
Completed Development
Folowing the grant of planning consent for retained clients, Thornes successfully introduced local developers to a small site with planning consent for four detached houses in Longham. Contracts exchanged in March 2011 and an immediate start on site commenced. The development is now competed and the four units are being offered for sale at a combined GDV of £1,215,000 which reflects a 35% land value.
Swanage retail investment created
Thornes received instructions from Mortagees in possession to sell the longleasehold interest in a retail property in the High Street, Swanage. Offers were sought in the region of £175,000 for the 700 sq ft unit. A potential investment purchaser was introduced to the opportunity who expressed interest but a preference was held to acquire a property with income. Thornes took the opportuity and sought out expressions of interest from tenant occupiers. The buyer, off the strength of the early interest exchanged contracts on the sale and within two weeks a formal rental offer of £14,000 pa on a new ten year lease was agreed. The rent relects a 9% gross intial yield.
Another Shop Opens in Poole
Shop Let in 4 weeks ! Thornes received instructions to market a vacant retail unit in Poole High Street in July and by the 1st week in August, tenants had not only been identified, terms agreed, and following referencing and signatures to a legal agreement, keys were handed over to the new tenants `Vortex` who are already open for business.
Dorchester Planning Approved
Acting for clients THORNES agreed the tender and sale of a large detached property in Dorchester, to a local developer.
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22 Parkstone Road, Poole, Dorset, BH15 2PG ~ T : 01202 684004 info@thornes.org.uk ~ www.thornes.org.uk