Merantun Way Colliers Wood, SW19 2RF

Prime South West London Leisure Park Investment

Park Place Retail are marketing this prime South West leisure park, the salient details of which are:-

Zone 3 London location - located in a prominent position on the A24 Merantun Way in Colliers Wood, just 8 miles from Central London.

Prime pitch - the scheme is centred in the prime retail and leisure pitch in Colliers Wood.

Large and affluent population - just under 50,000 people live within a 5 minute drive time of the subject property, extending to over 415,160 people within 15 minutes, with 46% classified as the highest affluence group ‘City Prosperity’.

Diverse tenants - the scheme comprises two A3 units let to KFC and Pizza Hut, a Premier Inn hotel and a Nuffield Health gym with a swimming pool.

Income - the property produces a rental income of £1,879,773 per annum.

Long WAULT - over 11 years to expiry.

Short term uplifts in income - 44% of the income is guaranteed to increase before October 2024.

Premier Inn - they form 38% of the income with around 20 years unexpired, and CPI uplifts capped at 4% per annum compounded.

Site - a large site area of 2.75 acres, and unusually high number of car parking spaces; 198, for a zone 3 location due to surface level and undercroft car parking.

Freehold - predominantly freehold, with 2 long leasehold areas.

Asset management potential - immediate term asset management angles and long term redevelopment potential to residential.

Offers are invited in excess of £25,160,000. (Twenty Four Million, Three Hundred Thousand Pounds), subject to contract and exclusive of VAT, allowing for purchaser’s costs of 6.74%. This reflects a net initial yield of 7.00%, rising to 7.46% in September 2024, based on the Pizza Hut fixed uplift and Premier Inn predicted uplift based on CPI capped at 4%.