Airspace Development for Hendon, NW4
November 03, 2023
We have completed contracts for the sale of a freehold building known as Raffles House in Hendon, NW4.
The substantial building benefits from planning consent to add an additional storey comprising 22 brand-new apartments, in addition to refurbishment of the ground-floor common parts, new lifts and other changes.
The transaction was conducted by way of a corporate share sale and all parties worked collaboratively to achieve the final result.
Airspace development often requires specific knowledge, a good understanding of fire regulations, building control and the desire to work with existing leaseholders while carrying out the work.
The purchaser which GLPG sourced is highly experienced within this sector and was able to take commercial views throughout the transaction given their depth of understanding within this sector of the market.
GLPG has sold a wide range of airspace development opportunities and we would be delighted to speak with you if there is a project where our assistance could be of value.