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Recent investment Transaction

Aviva Purchases Matalan & Ali warehouses in New Malden - Dec '15

21st December 2015

Aviva, advised by ESH, have purchased the Matalan and Aldi retail warehouses on Kingston Road, New Malden from a private vendor for £14,250,000 / 5.16% net initial yield. The scheme comprises 37,534 sq ft and is let with an AWULT of 9.24 years at rents of £22.48 psf and £18.97 psf. The Aldi rent is subject to five yearly upward only rent reviews to RPI with a collar and cap at 1% pa and 2.5% pa respectively. Both units benefit from an unrestricted open A1 planning consent that allows the sale of food. Savills advised the vendors.