Investment deals

Chiswick

A unique island site, housing musician Ed Sheeran’s management company as a tenant, was sold in June for GCW client Catella APAM, achieving a 7% yield at £11.9m.

“What we sold was rare: it’s an island site in one of London’s most affluent suburbs, with an interesting tenant mix and potential future development made for an appealing disposal.” said Ben Legard, senior surveyor, GCW.

As well as housing the international hit maker, other tenants at 376-378 & 382-384 Chiswick High Road, include Ryman’s, Starbucks, Flying Tiger Copenhagen – the Danish variety store, and Maggie & Rose, the kids and family members’ club launched in 2006, and is often likened to private members club, Soho House.

Battersea

GCW completed the purchase of Kido Nursery, Battersea in June for £2.35m. The brand-new nursery on a 15-year lease, is part of the recently built residential development near Battersea Power Station and benefits from being in  the regeneration area of Wandsworth (Nine Elms).

“It is a market we are dominant in and best placed to advise on nurseries. We have several clients looking to expand their portfolio into a growing market,” said Legard  of GCW.

Banks repurposing, South London

The significant number of bank branch closures over the last decade has opened the door of opportunity for investors looking to repurpose. From 2019 to 2023, just over 2,000 banks closed, according to Statista, with Barclays shutting the highest number.

GCW has advised on the purchase of several former banks for investors, with deals completed in Worcester Park, Penge and Whitton in recent months. “In good locations where residential values are strong, especially London, the former banks provide good investment opportunities at attractive lot sizes, giving investors wider scope to explore alternative uses,” said Archie Morriss, director, GCW.

He added: “We’re still looking for similar opportunities  for multiple investors.”

Royal Tunbridge Wells

Prime town centre site at 119 & 121/123 Mount Pleasant Road, was sold to ILM Capital for £3m, reflecting an initial yield of 8.53%. GCW acted for the seller CBRE IM.

The 12,142 sq ft building is in an exemplary central location within the town centre and is currently let to Specsavers and Pret, at an annual turnover of over £2m. Pret regeard their lease in 2022 for an additional 5-years.

“We achieved an excellent outcome in the current market. The potential repositioning opportunity of the building’s upper parts alongside the strong retail fundamentals due to its prominent location, are really what made this an optimal deal for all parties” said Will Mead, GCW surveyor, who acted on the deal.