Author: Cyril Richert
ShopStop, the retail area of Clapham Junction station, has been acquired by DTZ Investors for £137 million.
The winning bid is said to be 30% above the initial price, which must have been a decisive factor to be chosen by DV4, clients of Delancey, over prestigious interested parties including vacuum cleaner pioneer James Dyson’s property business, Legal & General, Redevco, LaSalle Investment Management and Meyer Bergman.
Tony Brothwell, Fund Manager at DTZ Investors commented:
“Shopstop represents a rare opportunity to acquire a prime, fully let, mixed use, multilet property in a dynamic London location with significant future development possibilities supported by the major infrastructure improvements planned for this very busy rail interchange.
We are confident that this purchase will provide strong medium and long term returns for the Fund.”
It could, but not only in term of income generated by the shopping parade. Clapham Junction is a designated site for a Crossrail 2 station, due to open in the early 2030s, and it is well known that Network Rail has expressed interest for the area, including CPO (Compulsory Purchase Order) if necessary.