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A NEW LEASE OF LIFE


With the growing demand for commercial to residential conversions in London, Cluttons spotted an opportunity for one of its fund management clients to significantly increase the value of its asset in the heart of London’s West End. By re-gearing one of the leases to facilitate early vacant possession, and proving potential for additional floor space on the upper floors of the property on Jermyn Street, we were able to sell the five upper floors to a residential developer while retaining the retail element to release a substantial capital gain of over 50% on the initial purchase price.