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5 January 2012
Countryside Properties has sold Flexspace, a 15,950 sq ft office building which forms the final phase of the £112 million regeneration of the former Lathams Timber Yard site in Clapton, London E5.
A local investment company has paid £2.2 million for the building which was subject to existing leases to Costcutter Supermarket Groups Limited, The Metropolitan Police Authority, Places For People Individual Support Limited and TBG Learning Limited.
Countryside Properties obtained planning consent for redevelopment of the Latham’s Yard site in November 2006 to provide some 610 residential units, together with commercial space including freehold light industrial units, offices, retail space and a doctor’s surgery, as well as new public open space. The entire scheme has now been successfully developed and sold.
Mark Chatham, Commercial Marketing Director for Countryside Properties, said: “The sale of Flexspace brings to a close the successful redevelopment of old redundant industrial premises, with prime frontage to the River Lea and Lee Valley Park, and excellent access to the City of London via nearby Clapton Station. The scheme has regenerated the area and provides substantial residential development, both private and affordable, and first class commercial buildings, which have attracted a wide range of tenants, creating important local jobs and providing essential services.’’
SBH Page Read and Glenny acted for Countryside on all the commercial sales including the latest sale to Flexspace One Limited.
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Information correct as at 05/01/2012