Apr 15, 2016
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Topland to sell 13 M&S stores

Apr 15, 2016

Topland Group, a privately-owned property company, has instructed real estate advisor CBRE to sell 13 M&S London stores in prime locations.

Photo: CBRE

They shops are the remaining high street assets of ones originally acquired in a M&S sale-and-leaseback deal made in 2001. Included in the portfolio are stores in attractive London locations including Camden, Chiswick, Clapham and Putney. 

The combined annual rental for the portfolio is £31,355,248 and it totals a whopping 3,452,775 sqft. It's estimated to be worth about £500m, with a net initial yield of 5.87% rising to 6.92% through annual escalations. 

Peter Arduino, Capital Markets Executive Director at CBRE who is handling the sale, commented: “This is a fantastic portfolio, which will offer investors the rare opportunity to acquire a perfect mix of prime high street units, 95% of which are let to one of the UK’s leading retailers.
“The portfolio will provide a stable income on fixed uplifts and valuable asset management opportunities. There is no doubt it will attract significant interest from the current UK and global market, which is currently lacking a supply of interesting stock."

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