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London

Jones Lang LaSalle advises on £15 million flagship store sale

Aberdeen Asset Management buy Furniture Village store on Purley Way, Croydon


Furniture Village, CroydonLondon , 17th September 2013 - Aberdeen Asset Management has bought the new flagship Furniture Village store on Purley Way in Croydon, for £15m, reflecting a yield of 5.85%. Jones Lang LaSalle advised Aberdeen Asset Management

The open A1 23,500 sq ft retail warehouse was bought from M&G Real Estate. The stand alone retail warehouse has been recently let to Furniture Village on a new 15 year lease at a rent of £ 40 per sq ft.

Jonny Perkins, Director in Jones Lang LaSalle’s Retail team, said: “Purley Way is a tremendously strong trading location, backed up by the fact that Furniture Village has aspirations to make this property their flagship store. Prime property like this which also provides a long term income profile, has become rare and difficult to purchase.”