Asda anchored, value orientated community shopping centre

Romford. The Mercury

Asking (STC) £25,000,000
  • The Mercury is a thriving, value orientated community shopping centre let to a robust mix of essential and convenience-led operators
  • Romford is a densely populated commuter town with exceptional connectivity, benefiting from high speed train access to London Liverpool Street in 17 minutes through the opening of the Elizabeth Line
  • Loyal catchment population of 550,000 within a 20 minute drive, which is predicted to grow by 10.47% by 2040
  • Romford's retail scene has witnessed one of the most successful recoveries within the UK in terms of footfall, with the highest recovery ranking in London
  • The centre comprises 243,089 sq ft including a 96,751 sq ft Asda and a 998 space car park
  • Asda have an option to extend their lease to 2051 at a gearing of 53% of ERV
  • The scheme offers an all-day leisure experience with an 8-screen Cinema, Bingo hall and day care within the complex
  • The scheme is on an upward trajectory, with 14 lettings and lease renewals concluded over the last 24 months
  • Part freehold part long leasehold with 93 years remaining
  • High footfall of 9.7 million per annum
  • Affordable, low operating cost base, with rents largely rebased and service charge running at £8.48 psf
  • The property benefits from a gross income of £3,077,370 pa and a net income of £2,026,544 pa after deduction of headrent and landlord non-recoverables