Fawcett Mead Letting Availability 2020
Clapham Junction : Shopstop
Fawcett Mead have recently acted on behalf of DTZ Investors on the acquisition of this prime mixed-use investment in the heart of Central London.
- 2.3 acre mixed use site in the heart of Central London
- Price: circa £137,000,000
Shopstop is formed of a site area of 2.3 acres and provides circa 74,500 sq ft of retail, leisure and office accommodation which benefits from being located at the main entrance to Clapham Junction railway station, Europe’s busiest railway interchange, with an estimated annual footfall of c. 31 million.
The property is 100% let to tenants including M&S Simply Food, Sainsbury’s, Monsoon, Superdrug and Fitness First. There is also office accommodation on the upper floors which is occupied by Moss Bros and acts as their UK headquarters. Over 20% of the current income is secured for over 10 years.
It is the first time that this property has been traded in the open market for 18 years. The acquisition of the strategically located 2.3 acre site offers numerous long-term opportunities, including inclusion in the area’s wider development plans, whilst being underwritten by the strong existing tenant line up and income profile.
Jonathan Mills commented: “We are delighted to have secured this acquisition for our client, DTZ Investors, against intense competition. Comprising a 2.3 acre, mixed use site in the heart of Central London, the property offers a multitude of asset management opportunities. The property represented a once in a generation opportunity to secure one of the most exciting repositioning projects in London.”
Crewe : 25-29 Victoria Street & Unit 3 Victoria Shopping Centre
Fawcett Mead are pleased to have acted on the sale of this high yielding retail investment in Crewe. The property comprises three shops, well-let to three extremely strong covenants including Holland & Barrett and Ryman. The sale price of £667,000 reflected a net initial yield of 10.00%.
- High-yielding retail investment in prime pitch, tenants include Holland & Barrett and Ryman
- Passing Rent: £70,250 per annum
- Net Initial Yield: 10.00%
- Price: £667,000
Sutton : Store B, St Nicholas Centre
Fawcett Mead are pleased to have acted on the sale of Store B, St Nicholas Centre in Chatham. A purchase price of £1,500,000 reflects a net initial yield of 9.10%.
- Let to SportsDirect.com Retail Ltd until 2025
- Passing Rent: £145,000 per annum
- Net Initial Yield: 9.10%
- Price: £1,500,000