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Prime London Retail Park

London, United Kingdom

86%

£56.100.000

Retail

#34132

Core+

28 Oct 2024

Property Details

Broker

Sold

117,752 sq.ft.

10,939 m²

Leasable area

476 £/sq.ft.

5,128 £/m²

6.50 %

15

Freehold

X

Fees

0.00 %

0.30 %

0.00 %

0.30 %

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.