The Convent, Farnborough, sold for £1.24m
- charliebirkett
- Apr 24, 2013
- 1 min read
On behalf of McKay Securities PLC, the Real Estate Investment Trust, The Convent, part of the freehold of the Pinehurst Park complex in Farnborough, Hampshire has been sold for £1.24 million.
The former Victorian convent building has been acquired by a to a specialist residential property development company. The sale price of £1.24 million is well ahead of the McKay’s September 2012 book value of £750,000. This valuation pre-dated the planning consent achieved by Mendip Capital in December 2012 to convert the Convent from office into residential accommodation.
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