PRIVATE ISRAELI INVESTOR ACQUIRES WEST HAMPSTEAD RETAIL FOR £7.4 MILLION

February 27, 2017

A private Israeli investor, advised by GCW and Steven Ossack Associates, has acquired a prime retail development in West Hampstead, London from Ballymore for £7.4 million, reflecting a net initial yield of 4.12%.

The 9,757 sq ft high street retail development, Heritage Lane West Hampstead, is anchored by Marks & Spencer and generates an income of £325,460 pa on new 10-15 year leases. The units are let to Marks & Spencer Plc (78% of income), The Provenance Meat Company, The Village Haberdashery, and Johns & Co Estate Agents.  The development has been sold as a 999 year long leasehold at a peppercorn rent.

The retail square is located at the heart of the £124.7 million mixed use Heritage Lane development and will serve 198 new homes and office workers on site, as well as high volume of passing trade. Work has commenced on the construction of a new entrance to the London Overground station and plans are also underway to relocate the entrance to the tube station adjacent to the Square.

Ballymore was advised by Colliers.

Latest News

KLM REAL ESTATE PROMOTES TOM JAMSON TO PARTNER

June 27, 2022 - 10:34

KLM Real Estate has boosted its retail advisory team with the promotion of Tom Jamson to partner. Having joined the firm in 2013, Tom focusses primarily on designer outlets, central London high street[...]

+ Read More

HANOVER GREEN RETAIL APPOINTS CHRIS BRAITHWAITE AS NON-EXEC DIRECTOR

June 21, 2022 - 09:11

Hanover Green Retail has appointed Chris Braithwaite, a former Senior Director at Apple as a Non-Executive Director. While at Apple, Braithwaite was responsible for leading their Global Retail Real E[...]

+ Read More

Harrods celebrates the highly anticipated launch of H beauty Gateshead

June 20, 2022 - 08:39

Harrods is proud to celebrate the opening of H beauty Gateshead, the brand’s fifth standalone beauty store in the UK, located in the Metrocentre. Offering an unparalleled beauty utopia, the 30,203 s[...]

+ Read More

CONTACT

CALL US

+44 (0)20 7647 4420

ADDRESS

Wren House, Garden Close Lane, Newbury RG14 6PR