£80,825,000 (Subject to Contract and Exclusive VAT)
A service charge is in operation at the property. There is a current landlord shortfall of £12,844 pa.
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.
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.
Gross Rent of £3,452,735 per annum exclusive
Marks & Spencer, Aldi, Smyths Toys, Starbucks, Currys
4% Net Initial Yield assuming full property costs.
An acquisition at this level produces the following running yield assuming maximum index linked uplifts:
The property is held in a newly formed Jersey based SPV, therefore a corporate deal is available.
Partner | Investment
Green & Partners understand our needs and continually exceed expectations.
Thorough, tenacious, practical in their outlook and approach but above all they get results.
La Salle Investment Management
The expertise and excellent client focus provided by Team G&P is greatly valued and appreciated. The continuing hard work to support our investment, Leasing and Asset Management activities has enabled us to drive investment performance for our clients.
M & G Real Estate
Green & Partners are a focused, diligent and highly determined team who exceed our expectations time after time.
With Green & Partners you get Partner level involvement and Commitment whether it's an MSU or a small kiosk. They are creative and tenacious and have a very good knowledge of shopping centres and the retailer market at all levels.
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