DTZ Investors has completed on the purchase of Purley Cross Retail Park in Croydon for €66.3m from Oval Real Estate. The property is a prime retail park comprising 126,410 feet squarred of lettable floorspace across five units which occupy an 8.6-acre site.
The scheme is fully-let with a WAULT of 11.9 years to break and 12 years to expiry. Further income is derived from existing PV and EV infrastructure and there is a 61% income exposure to indexed rent reviews. The tenant-mix creates a complementary hybrid use between the Aldi and M&S supermarkets alongside Smyths Toys,Currys, M&S general merchandise and Starbucks.
Croydon has a reputation as one of the UK’s leading retail warehouse locations due to its draw from a large catchment across the South London arc and surrounding counties. The micro-market is underpinned by low vacancy and constrained supply alongside a track record of robust occupier trade.
Source: europe-re.com on the 9th of March
https://europe-re.com/dtz-investors-buy-purley-cross-retail-park-for-66-3m-gb/71500