£56.100.000
Confirmation
Prime London Retail Park
London, United Kingdom
Retail
#34132
Core+
28 Oct 2024
Property Details
Broker
Sold
117,752 sq.ft.
10,939 m²Leasable area
476 £/sq.ft.
5,128 £/m²6.50 %
15
Freehold
Fees
Investment Overview
A prime retail destination just 8 miles from Central London. Part of a regionally dominant retail centre with a 130,000 sq ft M&S, a 105,000 sq ft Sainsbury’s and the 67,333 sq ft Priory Retail Park. Serves a large and affluent catchment of which 46% are classified in the highest affluence group ‘City Prosperity’. Providing a retail park extending to a total of 117,752 sq ft of accommodation. High footfall with over 85,000 customer visits per week. Offers a complementary mix of leading retailers including Next, JD, TK Maxx, Homesense, Boots and Sports Direct alongside food and beverage operators including Starbucks and Nando’s. Produces a rental income of £3,892,542 per annum assuming a rental guarantee on Unit 5B equating to an average of £31.15 per sq ft. Use Class E. Predominantly open A1 (including food). Proven retailer demand for the scheme. Active asset management opportunities to further cement the park’s dominance. A site of 7.25 acres (2.94 hectares) with strong underwrite for alternative uses such as residential or industrial.
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