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Top 10 most expensive properties sold in Redbridge last year bought for £4m or more

PUBLISHED: 07:00 12 February 2018 | UPDATED: 13:57 13 February 2018

The Exchange shopping centre in Ilford High Road, sold for £78m last year. Photo: Archant

The Exchange shopping centre in Ilford High Road, sold for £78m last year. Photo: Archant

Archant

Redbridge’s 10 most expensive properties each sold for more than £4million last year, figures reveal.

Land Registry data shows that more than £1.4billion changed hands last year across more than 2,800 property deals done in the borough.

The Exchange Shopping Centre, in Ilford High Road, was the most expensive property in the borough at £78m.

Dutch property investment firm Capital & Regional bought the building from previous owners Meyer Bergman in March last year.

Widely regarded as the as one of the leading owners of community shopping centres in the UK, the company also manages six centres in Wood Green, Walthamstow, Luton, Hemel Hempstead, Maidstone and Blackburn.

On top of that, an individual, ground floor unit of very same shopping centre sold for £11m.

This unit came joint fifth in our ranking, tied with International House, in Balfour Road, which was purchased by Redbridge College.

The second most expensive property sold was Unit 26 of Bourne Court, in Southend Road, South Woodford coming with a price tag of £12.5m.

Bourne Court is a complex of commercial buildings, with Unit 26a belonging to Ilford branch of UK care home provider MiHomecare.

Third in our ranking is Charter House, just next to the cemetery in High Road, Ilford, which sold for more than £12.27 million.

Planning permission to change the use of the existing building into 99 apartments and a office floor space was granted in May 2016.

Six out of the ten most expensive properties bought in the last year fetched more than £11m.

Recorder House, in Ilford High Road, came in seventh, fetching £8.05m.

This 0.34 hectare site – which consists of a vacant publishing house and car park - has “potential to build a significant residential-led development,” according to real estate firm Savills.

In spite of these major purchases, the overall amount of money changing hands fell by £77m since last year, where more than 3,300 property deals were done in Redbridge.

More than 850,000 residential sales were listed across England and Wales last year, down three per cent from the 877,307 recorded by this time the previous year.

The government shelved plans to privatise the Land Registry following heavy criticism in 2016.

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