Anchor Retail Park, Mile End | Property for sale | Savills
3.21 Ac(1.30 Ha)
Excess of £30,000,000(420.509.610 kr)

Anchor Retail ParkMile End

  • Under offer
  • Sole agency
  • Freehold
Development land
3.21 Ac (1.3 Ha)

Key features

  • Prime retail park with redevelopment potential
  • The Property comprises a 3 unit retail warehouse terrace totalling 45,385 sq ft
  • The total income across the property is £1,756,577 per annum.
  • The total Freehold site extends to 3.21 acres (1.30 hectares).
  • The retail leases expire in 2025
  • Several pre-apps for the redevelopment of the site for BTR & PBSA
  • Residential feasibility study, which comprises a total of 257 residential units
  • PBSA feasibility study by architects Maber, which comprises a total of 440 beds
  • The site has a PTAL rating of 6a.
  • For sale Freehold

Prime East London Foodstore Anchored Retail Park Investment With Redevelopment Potential

About this property

  • The property comprises a terrace of three retail warehouse units providing a total GIA of 45,385 sq ft. with a surface car park found to the front of the scheme. The property is fully let to Currys, Asda and Halfords. The buildings are of steel portal frame construction with a brickwork frontage. The roofs are pitched and formed from composite panel roof sheets. The site provides 145 car parking spaces on a surface tarmacadam car park, providing an excellent customer car parking ratio of 1:313 sq ft. Access to the property for customers and to the service yard is available from a traffic light controlled junction on the A11 (Mile End Road).

Local information

  • Anchor Retail Park is strategically located in Mile End within the London Borough of Tower Hamlets, approximately 2 miles east of the City of London.
  • The immediate area comprises of densely populated residential neighbourhoods and local businesses on Whitechapel High Street (1.1 miles west of the retail park).
  • The various Queen Mary University of London buildings surround the site. With over 32,000 students, the university was founded in 1785 by a consortium of London based institutions and is part of the Russell Group of universities. Other nearby higher education institutions include: UCL (25 mins), Kings College (25 mins), London School of Economics (26 mins), and Imperial College London (44 mins) as well as the INTO London World Education Centre (20 mins) which works with over 100 UK and European universities providing a modern learning environment.

Additional information

  • There is potential to pursue planning permission for the comprehensive demolition of existing buildings and the redevelopment of the Site to provide:
  • Residential units (Use Class C3), or, Purpose built student accommodation (PBSA) (Use Class Sui Generis);
  • Affordable housing (Use Class C3) (required in both cases);
  • Ground floor commercial uses (Flexible Class E); and
  • Associated access and public realm improvements including soft and hard landscaping and improved permeability.