Investment.

Croydon.

Purley Cross Retail Park, CR0 4NU

Map View

Status.

Available

Price.

£80,825,000 (Subject to Contract and Exclusive VAT)

Service Charge.

A service charge is in operation at the property. There is a current landlord shortfall of £12,844 pa.

Location.

Croydon is a principal retail location and one of the largest commercial districts in Greater London. The borough is located 11 miles (18km) south of central London, 5 miles (8km) south west of Bromley and 9 miles (14km) south east of Kingston upon Thames.

Description.

Purley Cross Retail Park comprises 126,410 sq ft over five well configured, super prime, units. The site has recently been partially re-developed to create an unbroken terrace linking Currys on the eastern side of the site with the former John Lewis at Home store (to be Marks and Spencer) at the west. The new units, in the centre of the terrace are occupied by Aldi, Smyths Toys and Starbucks, directly fronting the A24 Purley Way thoroughfare. 

Rent.

Gross Rent of £3,452,735 per annum exclusive

Tenant(s).

Marks & Spencer, Aldi, Smyths Toys, Starbucks, Currys

Tenure.

Freehold

Yield.

4% Net Initial Yield assuming full property costs. An acquisition at this level produces the following running yield assuming maximum index linked uplifts: 2026: 4.24% 2027: 4.41% 2031: 4.70% 2032: 4.90% The property is held in a newly formed Jersey based SPV, therefore a corporate deal is available.

Share.

All viewings are strictly by prior appointment.

David Freeman.

Partner | Investment

Ed Smith.

Partner | Investment

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