M Core continues expansion with acquisition of Wimbledon retail parade
Sheet Anchor Evolve, part of M Core, has completed the acquisition of a 38,000 sq ft retail parade and multi-storey car park in Wimbledon.
The properties at the parade are currently let to five tenants, including Metro Bank, Joe & The Juice, Itsu, Fitness Space, and a brand new 14,000 sq ft Aldi store. The asset provides a weighted average unexpired lease term of 8.3 years to break and 16.5 years to expiry.
The parade – purchased from developer London Square – adjoins Wimbledon Bridge House, an office building located in the heart of Wimbledon town centre located opposite both Wimbledon Station and Wimbledon Quarter.
The news follows M Core’s recent acquisition of a trio of retail assets in Aberdeen.
Joe O’Keefe, founding partner of Sheet Anchor Evolve, said: “This acquisition marks another significant step in our strategic growth journey as part of M Core. Wimbledon Bridge House is a strong addition to our expanding portfolio. This well-located, high-performing asset aligns with our approach to acquiring properties with long-term income and potential for asset management.
We remain focused on growing across key town centres and delivering value for our investors and stakeholders.”
Sean Gavin, managing director at London Square, added: “The sale of this important retail parade to a specialist of Sheet Anchor Evolve’s calibre will ensure that the ground floor uses at Wimbledon Bridge House thrive as we invest in the wider property to help enhance the town centre for residents, businesses and visitors.”
Jack Barratt from Bruce Gillingham Pollard acted for Sheet Anchor Evolve.