DTZ Investors/Sovereign Centros set to board at Clapham Junction Shop Stop

By Paul Norman - Thursday, May 10, 2018 14:40

DTZ Investors and Sovereign Centros are in pole position to buy Delancey’s Shop Stop retail parade at Clapham Junction station, SW11.

Delancey, via JLL, has been seeking bids of around £100m but it is understood that the price paid will be close to £130m.

CoStar News revealed last month there has been strong interest from parties including vacuum cleaner pioneer James Dyson’s property business, DTZ Investors, Legal & General, Redevco, LaSalle Investment Management and Meyer Bergman.

It is unclear whether Network Rail bid for the scheme. Network Rail took back control of the south-west London station last month from train operator South Western Railway in order to push on with major upgrade works. It has previously talked to Capco about the potential for a major development on and around the station.

The 70,000 sq ft retail-led, Shop Stop scheme at the entrance to Clapham Junction station on St John’s Hill, SW11, represents a significant redevelopment opportunity. Tenants include M&S Simply Food, MAC cosmetics and Monsoon as well as a 14,000 sq ft gym let to Fitness First and a 5,000 sq ft Sainsbury’s.

The property also contains office space on the first and second floors.

Fawcett Mead is advising DTZ Investos and Sovereign Centros.

pnorman@costar.co.uk

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