Investment company Mansford has bought the mixed-use Woolwich Arsenal Estate, SE18, for £52.5m.
It has bought the circa 100 properties from Powis Street Estates. The price reflects a yield of around 5%.
Located over Beresford Square, Hare Street and Powis Street, the estate comprises flats and shops let to tenants including Primark and New Look.
Tim Meakes, head of specialist investment at Colliers International which advised the buyer, said: “Woolwich is undergoing a period of significant regeneration with much new investment in housing and transport.”
He added: “There is much opportunity for our client to increase the value of this portfolio through residential development, asset management and refurbishment which makes it a very exciting investment.”
Cradick Retail, Lewis & Partners and Real EstateIM advised Powis Street Estates.
