Fawcett Mead has recently advised Legal & General on the sale of this prime, multi-let retail parade in Clapham Junction. 66% of the current income is secured to Waitrose until 2029. The sale price of £25,000,000, reflects a Net Initial Yield of 3.99%.
Jonathan Mills commented: “We are delighted to have completed successfully on this sale at an attractive exit price for Legal & General, in evidence of the continued attractiveness of the foodstore market in an otherwise very uncertain environment. The property was sold off market to a pension fund investor who we had identified as having a specific requirement for an investment that matched the subject property’s characteristics. The sale follows on from our £138m acquisition of Shopstop, Clapham Junction for DTZI and clearly demonstrates the continued investor appetite for Central London retail investment opportunities.”
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