Forge are delighted to have advised Nuveen, a TIAA company on the succesful disposal of 180-190 High Street, Lewisham.

The property comprises 54,360 sq ft and is entirely let to Primark for a further two years on FRI terms.

Following a highly competitive bidding scenario, Forge were able to execute the sale well ahead of the quote price of £7.59m / 6.50% NIY.

Jonathan Mills commented:

“Having advised on the original acquisition, we are pleased to have helped achieve a successful conclusion to our client’s ownership. We were able to generate a competitive bidding environment, including from a number of special purchasers, which ultimately led to a successful outcome for Nuveen.”

To discuss similar opportunities, please contact Jonathan Mills or Joe Baio.

Forge have advised on the successful sale of 3-4 Market Hill, Cambridge, on behalf of our client, CBRE Investment Management.

Situated in a prime location in one of the UK’s strongest retail centres, the 6,866 sq ft asset is part let to Popeyes, with vacant upper parts offering an interesting development angle.

Forge were delighted to generate a strong level of investor interest and secure an excellent result ahead of the quoting terms at a price reflecting a benchmark yield for High Street retail.

Jonathan Mills commented:

“Having acted on the original acquisition of the property as part of the Magna Portfolio in 2015, we are delighted to have seen the sale through to a successful conclusion for our long-standing clients, CBRE IM.”

To discuss this or other opportunities, please contact Jonathan Mills or Joe Baio.

Forge are pleased to have advised Jaspar Group on the successful disposal of 341 High Street, Sutton.

The property, which is let to Topps Tiles until October 2028, provides a single-storey unit of 5,575 sq ft on a 0.4-acre site.

Following a highly competitive bidding scenario, Forge were pleased to conclude the deal with a private client of Simon Gregory of Smith Price RRG.

For further information, or to discuss similar opportunities, please contact our investment team.

Forge are pleased to have advised a private investor on the off-market acquisition of 6 Lands Lane & 27 Albion Place, Leeds.

The property, which is let to Pret a Manger, comprises 5,561 Sq ft across five floors, and is situated in a core city centre location.

Joe Baio commented, “Having tracked the asset for nearly 12 months, we were very pleased to have secured this attractive deal in Leeds, off-market. The building is situated in a prime pedestrianised pitch and is well-let to Pret a Manger, benefitting from medium-term reversionary potential.”

Forge have now concluded in excess of ten leasing, investment and lease advisory deals in Leeds over the last 18 months.

Many thanks to Patrick Over of EYCO who acted on behalf of the Vendor.

For further information please contact our Investment Team.

Forge are pleased to have advised Nuveen, a TIAA company on the off-market sale of Market Place, Romford.

The property comprises a purpose-built retail parade of 67,651 sq ft, and is situated at the heart of Romford’s retail core.

Notable tenants in the parade include: Iceland, Home Bargains and BHF.

Jonathan Mills commented:

“We are delighted to have completed this successful sale on behalf of long-standing clients, Nuveen.”

For further information, please contact Jonathan Mills or Joe Baio.

Forge are delighted to have advised an overseas private investor on the disposal of 184a Edgware Road & 2-10 Crawford Place, W2.

Following a targeted marketing campaign and bids scenario, the asset sold ahead of quote, at a level reflecting a capital value of £770 per sq ft and a Net Initial Yield of 2.09%.

It was great to work with Alex Butler of Allsop LLP who advised the private purchaser.

For further information, or to discuss similar opportunities please contact Joe Baio or Jonathan Mills

Forge are delighted to have advised Redevco on the successful sale of 56-76 Commercial Road, Bournemouth.

The property comprises a 100% prime flagship retail development, totalling circa 60,000 sq ft of retail accommodation.

97% of the income is secured to extremely strong covenants, including Zara, Sports Direct, JD Sports and HSBC.

Having received strong interest from a range of investors, Forge concluded the sale at circa £11,500,000, reflecting a Net Initial Yield of circa 9.65%.

Jonathan Mills commented:

“We are delighted to have completed this 100% prime sale on behalf of Redevco, for which we received very competitive bidding. The property offers arguably the best retail accommodation in Bournemouth, for which there remains strong occupational demand.”

For further information, please contact Jonathan Mills or Joe Baio.

Forge are delighted to have advised M&G on the successful sale of 37-44 Stall Street & 9-18 Bath Street in Bath.

The property comprises a rarely available, super prime, trophy mixed use asset in Bath.

Totalling circa 62,500 sq ft of retail accommodation and 6,800 sq ft of office accommodation, the property is let to a strong line-up of retail occupiers. 50% of the retail income is secured to Primark until 2032.

Following a competitive bidding scenario from a range of institutional and overseas investors, Forge were able to conclude the sale at circa £15,000,000, reflecting a Net Initial Yield of circa 8.30%.

Jonathan Mills commented:

“We are delighted to have completed this super prime sale for M&G, for which we received considerable interest from both institutional and overseas investors.”

For further information, please contact Jonathan Mills or Joe Baio.