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News

“Where there’s tea there’s hope”

Friday, May 14, 2021 By Phil Graves

An impressive freehold office building with a self contained flat over has been sold for close to the asking price after competitive bidding. The property offered over 2,000 sq ft of offices on two floors, car parking to the rear and with a two bedroomed flat over at an asking price of £770,000.

Graves Jenkins won the appointment to act on behalf of private owners who ran their business at the property for many years and were seeking to maximise their asset due to retirement.

Within a few weeks of extensive marketing, GJ produced various proposals and the decision was to sell to Hoogly Tea, a premium tea Company based in Brighton with strong beliefs in ethically sourced and fairly traded values for their business. Owner Tina Gloggengieser added, "We are delighted with our new premises in South Road, perfect for what we need for our business. Graves Jenkins have been brilliant throughout the whole process, really helpful and great communication, thank you."

"The freehold commercial property market has remained strong as investors and owner occupiers realise the value of investing into bricks and mortar. With low interest rates and the gradual recovery of the UK economy, freehold investments will continue to be sought after," commented Phil Graves who handled the sale.