Savoy Hotel Laundry Site London

News - 27/11/2020

Former Savoy Hotel laundry site sells for £11.3 million

We have completed the sale of a mixed-use building in Clapham, historically used as the laundry site for the Savoy Hotel

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On behalf of clients Optivo, we have completed the sale of a 34,885 sq ft mixed-use property consisting of offices, retail unit, 112 residential flats and an underground basement car park, located on Clapham Road, SW9. 

Despite tough market conditions in 2020, this sale was made at less than a 10% reduction of the quoting price set prior to the outbreak of Covid-19 in March..  

Jon Rea-Palmer, Associate Director at LSH, commented:

“This was an exciting project to work on with several different potential purchase angles to consider. Working closely with clients, Optivo, we identified several purchasers who would be interested in repositioning the vacant offices with asset management and development potential. We subsequently concluded the sale to Lipman Properties at an excellent price given this year’s unimaginable market conditions. This is an exceptional result which we are extremely proud to have assisted Optivo with.”

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