Lothbury Investment Management has put Anchor Retail Park in Mile End, E1, up for sale, with Savills targeting offers over £30m for the redevelopment opportunity.
The 139,827 sq ft retail park comprises a three-unit retail warehouse totalling 45,385 sq ft and 11 four-bedroom terraced houses totalling 9,147 sq ft.
The retail units are let to Currys, Asda and Halfords until 2025, generating a passing rent of £1.28m per annum. The houses, at 1-11 Anchor Terrace, Cephas Avenue, deliver a total rent of £475,200 a year.
The site has been subject to pre-application discussions with Tower Hamlets Council for redevelopment as either build-to-rent or student accommodation.
The proposed plans drawn up for BTR by Allford Hall Monaghan Morris comprise 257 homes and 11,593 sq ft of commercial space. The PBSA plans, prepared by Maber, would see the provision of 440 beds and 66 affordable homes, totalling 206,689 sq ft, plus 9,957 sq ft of retail space.
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Photos from Savills
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