Retail Units & Shops to rent in Mitcham

Exciting retail opportunity within Sainsburys Superstore complex. Exciting Retail Opportunity within Sainsburys Superstore Complex and adjacent to Marks & Spencer Merton

The available unit is located within the foyer of the Sainsburys Superstore adjacent to the Car Park entrance/exit.

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%.

Merton Abbey Mills is Located on the river Wandle and the former 19th century textile factory of Liberty London. Today it is the home of a craft market and over 50 permanent businesses, including offices, restaurants, a popular pub, plus many other retail services. The Mills is undergoing a programme of improvements with visitor numbers due to increase significantly in the coming period due to regular events and the many new local residential developments. It is located between Colliers Wood and South Wimbledon stations. Colliers Wood tube is less than a 10 minute walk, Wimbledon Village is 10 minutes by car, on the A24, parking is available.