CBRE Global Investors has exchanged contracts to sell the freehold interest in 131 Great Suffolk Street, SE1, for in excess of £4.5m.
Residential developer Tailored Living Solutions is understood to have outbid eight parties for the two-storey, 8,153 sq ft warehouse-style property with development potential.
Nick Willson of Union Street Partners, which advised CBRE Global Investors, said: “The sale price reflects an uplift of around 110% on the price paid when we acquired the building for CBRE Global Investors in June 2014.
“The progressive nature of the property’s value in a relatively short period of time demonstrates how the South Bank market continues to strengthen.”
Daniel Cobb represented the purchaser.
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