Purchase of Kingston upon Thames retail asset complete
DTZ Investors has successfully acquired the freehold interest in 55/57B Clarence Street & 4 Fife Road, Kingston-upon-Thames for £18.1m reflecting an initial yield of 4.4%.
This retail investment comprises a block of four retail units, offering modern, well configured retail and ancillary accommodation, principally arranged over ground and two upper floors. The asset is prominently situated at the pedestrianised junction of Clarence Street and Fife Road and benefits from wide frontages to Clarence Street and good ‘eye-line’ visibility from the main entrance to the Bentall Centre.
The acquisition provides exposure to an affluent Greater London market that is forecast to benefit from population growth of approximately 16% for the period to 2024.
DTZ Investors were represented by CWM.