462-470 Brixton Road & 2-10 Tunstall Road, Brixton SW9Posted on October 20, 2021
In October 2021, Clay Street completed on the sale of this Prime Mixed Use Investment on behalf of clients of CBRE Investment Management. The sale attracted strong initial interest from a range of developers and retail focussed investors.
- The property is situated a prime retail trading position directly opposite Brixton tube station in the London Borough of Lambeth.
- Freehold asset comprising six retail units, a college at first floor with seven residential units above. The buildings connect to form an ‘L’ shaped development fronting Brixton Road and the return on Tunstall Road.
- Total retail accommodation of 13,492 sq ft, office/educational of 3,408 sq ft; together with a service yard to the rear the site extends to 0.43 acre.
- The property is 100% let with a large proportion secured against the recently renewed The Body Shop and Poundland.
- Potential to develop above the rear service yard, design options considered in detail by architects, 3DReid.
- Leases structured to create the opportunity to gain vacant possession to enable development in the short to medium term.
The asset was acquired by Essential Living for £12,500,000 reflecting a net initial yield of 5.75% after costs. Levy Real Estate advised the purchaser.