Ballymore has put the Waitrose at its Embassy Gardens development in Nine Elms, SW8, up for sale.
The developer has instructed Coady Supple to sell the
property, which is adjacent to the new £600m US Embassy, for £20m – a 4% yield.
The supermarket has signed a 25-year lease for the 36,000 sq ft shop and 128-space underground car park. It will be one of its largest sites in central London.
Waitrose will pay an annual rent of £820,000, with a fixed increase of 2% pa.
Ballymore’s plans for Nine Elms total 2.6m sq ft of mixed-use space, including 2,000 homes, 600,000 sq ft of offices, 100,000 sq ft of shops and leisure and a 100-bedroom hotel.
