303 – 323 Kings Road, LondonPosted on January 30, 2015
In January 2015 we completed the acquisition of a prime retail parade on Kings Road on behalf of pension fund clients of LaSalle Investment Managers.
The parade of 12 shops was held leasehold with an unexpired lease term of 63 years. The weighted average lease term at purchase was circa 7.5 years.
The rental tone was off a low base in the region of £150 ITZA providing good prospects for rental growth and opportunity to execute a proactive asset plan to improve the tenant mix.
The asset was acquired for £10.25m reflecting a NIY of 5.6%.