News

Aberdeen Asset Management sell Gallows Corner Retail Park, Romford, to Royal London

Price: £56 million Type: Investment Sale Status: Completed

Aberdeen Asset Management have sold Gallows Corner Retail Park, Romford, to Royal London for £56,000,000, reflecting an initial yield of 5.17%.

The property is an outstanding London retail park located at the junction of the A12 and A127. An average of 88,833 vehicles pass the property every day.

The scheme is a purpose built modern retail warehouse park of 92,538 sq ft, laid out as seven units. It has a part Open A1/part bulky goods planning consent. Tenants include Next, Argos, Magnet, DFS, Halfords, Furniture Village and Harveys and the current passing rent is £3,089,764 per annum.

The park has experienced strong, ongoing rental growth at recent rent reviews, lease renewals and lettings.

For further information contact Hamish Whiteman or Nick Staunton.

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