GCW’s successful partnership with The Co-operative Group, where it has disposed of a number of sale and leaseback properties, continues with two more investments going to market. The latest instructions include a prime freehold retail investment opportunity on Burleigh Street, Cambridge. The property is on a prominent corner location, adjacent to Primark, and is to be let to Co-operative Bank on a new 10 year lease from the date of completion of the sale. The property went under offer ahead of the £1,355,000 asking price within one week of going on the market.
The second instruction is for a neighbourhood retail parade together with a residential development site in Abbey Wood, south east London. The 0.62 acre site is anchored by a 4,280 sq ft Co-operative food store, to be let on completion of the sale for a term of 15 years with RPI-linked reviews, plus three shops let to local traders. It also offers development potential with planning consent to develop nine residential dwellings on the adjoining site. The town will be the south eastern terminus for the Crossrail development which will be operational from 2018.
The latest two retail investment instructions follow GCW’s successful sale of a raft of properties for the group. These include an Ask restaurant in Cranleigh, parades of shops including Co-op food stores in Sutton, Bexleyheath and Maidenhead; an HSBC bank in Eltham and a Next in Ilford.