LONDON ROAD, MORDEN LB MERTON
This building was originally purchased as an investment and is located close to Morden Underground Station (Northern Line) and within an area identified by LB Merton, the local authority, as a potential redevelopment area. Comprising a 33,000 sq.ft. supermarket on the ground floor (let J Sainsburys), the upper parts comprised 13,000 sq.ft. of office accommodation let to a newspaper group. Upon acquisition, the lease to Sainsbury was regeared and the rent reviewed whilst a surrender was taken on the upper parts, with the freehold eventually being purchased by an investment fund.
Gross Development Value: