8 Ravensbourne Rd
Bromley BR1 1HP

Hanover Place offers a unique opportunity to acquire an exceptionally well-connected mixed-use investment in Central Bromley. This striking landmark property is strategically located in Bromley's main commercial hub, within a prosperous Greater London Borough. Its prime location is just a 2-minute walk from Bromley South railway station, providing an 18-minute access to London Victoria, making it highly desirable for commuters and businesses alike.
Situated prominently on the high street, Hanover Place is adjacent to The Glades Bromley and the bustling High Street, ensuring high foot traffic and visibility. The property totals 85,727 sq ft (NIA) and 104,278 sq ft (GIA), arranged over two ground-floor retail units and four upper office floors. It occupies a large site area of approximately 1.28 acres (0.51 hectares), offering ample space for various commercial activities.
The building is multi-let to three office tenants and two retail tenants, providing a weighted average unexpired lease term (WAULT) of 3.11 years to expiries and 0.90 years to breaks. Currently, the property is 45% let (excluding the Wilko Retail Limited lease) and generates a rental income of £627,868 per annum, equating to £7.32 per sq ft overall and £24.33 per sq ft on the let office space. Hanover Place also boasts an excellent town centre car parking ratio, with a decked car park providing a 1:609 sq ft ratio.
In recent years, the property has seen proven rental growth, with office rents in the building increasing from £17.50 psf to £26.50 psf. Furthermore, there is significant short to medium-term redevelopment potential, supported by a positive historic planning pre-application. The Council has supported the principles of developing the site, making it suitable for various repositioning options, including residential, BTR, co-living, senior-living/retirement care, data centres, hotels, and self-storage (subject to planning).
The site is not occupied by any statutory or locally listed buildings and is not located within a conservation area, enhancing its redevelopment potential. The property is held Freehold, adding to its appeal as a secure investment. Hanover Place represents an exceptional opportunity for investors seeking a well-connected, mixed-use property with significant growth and redevelopment potential in Central Bromley.