Shopstop acquired in Europe’s busiest railway interchange for £137m
DTZ Investors has completed the freehold acquisition of Shopstop, Clapham Junction for around £137m. Shopstop occupies a 2.3-acre site and provides 74,500 sq ft of retail, leisure and offices at one of the main entrances to main entrance to Clapham Junction railway station, Europe’s busiest railway interchange, with an estimated annual footfall of 31 million.
The property is 100% let to tenants including M&S Simply Food, Sainsbury’s, Monsoon, Superdrug and Fitness First. There is also office accommodation on the upper floors which houses the UK headquarters of Moss Bros. Over 20% of the current income is secured for over 10 years.
Tony Brothwell, fund manager at DTZ Investors, said: “Shopstop represents a rare opportunity to acquire a prime, fully let, mixed use, multi-let property in a dynamic London location with significant future development possibilities supported by the major infrastructure improvements planned for this very busy rail interchange.”
Fawcett Mead advised DTZ Investors on the acquisition, with Robinson Webster also providing occupational advice.