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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%.
This is the prime retail warehouse destination in the London Borough of Merton. Occupiers include; Currys/PC World, Aldi, Dunelm, Burger King and Greene King public house.
The subject property occupies a prominent position on Christchurch Road in Colliers Wood. Colliers Wood Underground Station (Northern Line services) is located a short walk away from the property. Christchurch Road is an area predominantly made up of established independent retailers and restaurants. Multi-national tenants within the immediate vicinity include Co-Operative Foods, Costa and Ladbrokes. The unit is arranged over Ground Floor only.
A retail shop To Let in London Road, Mitcham. Other retail properties in the immediate vicinity include Age UK Local Services, British Heart Foundation Furniture & Electrical and Realeyes.
A retail shop To Let in London Road, Mitcham. Other retail properties in the immediate vicinity include The Co-Operative Funeralcare, Scope and Lloyds Bank.
A retail shop To Let in Morden Road, Mitcham. Other retail properties in the immediate vicinity include Mitcham Fire Station, Mitcham Tram Stop and Nisa Local.
A retail shop To Let in Greyhound Lane, London. Other retail properties in the immediate vicinity include Post Office, Sainsbury's Local and Morley's.
A Leisure unit To Let.
