Hersham Green shopping centre in Surrey has been put up for sale by owner Markland Holdings with a £15.3m price tag – a 5.4% net initial yield.
The 54,451 sq ft scheme is anchored by a Waitrose supermarket and has 15 shops as well as 5,000 sq ft of offices and 233 car parking spaces.
The Waitrose, which produces 71% of the centre’s £951,000 annual income, was let on a 20-year lease in 2005 and is subject to five-yearly open-market reviews. The most recent, in March 2015, is still outstanding.
The centre comes with scope for redevelopment subject to planning, and includes options for residential, additional retail and leisure extensions as well as overall refurbishment.
Coady Supple is advising Markland Holdings.
