Safeway on King’s Road, one of the chain’s prime London stores, is on the market. The deal to surrender the 7,000 sq ft to landlord LaSalle Investment Management, on behalf of the British Rail pension fund, was agreed before Morrison took over Safeway in January. The store is next to the Duke of York’s shopping centre at the Sloane Square end of the street. Jones Lang LaSalle will be marketing the store, which is being eyed by fashion retailers including Monsoon and French Connection. National director James Burt said: “The pitch is 95% prime and, after a period of oversupply in this area, the Duke of York’s scheme is now nearly fully let.” He said prime zone A rents were about £325. Morrison has also sold 14 other Safeway stores to Sainsbury’s as part of the 52 it was obliged to sell when it agreed the £3bn takeover.
Safeway on King’s Road, one of the chain’s prime London stores, is on the market. The deal to surrender the 7,000 sq ft to landlord LaSalle Investment Management, on behalf of the British Rail pension fund, was agreed before Morrison took over Safeway in January. The store is next to the Duke of York’s shopping centre at the Sloane Square end of the street. Jones Lang LaSalle will be marketing the store, which is being eyed by fashion retailers including Monsoon and French Connection. National director James Burt said: “The pitch is 95% prime and, after a period of oversupply in this area, the Duke of York’s scheme is now nearly fully let.” He said prime zone A rents were about £325. Morrison has also sold 14 other Safeway stores to Sainsbury’s as part of the 52 it was obliged to sell when it agreed the £3bn takeover.
