Lothbury Investment Management has sold a retail property located in Wimbledon, London SW19 to a private investor for €4.7m (£4.05m). Situated close to Wimbledon station, 40-44 Wimbledon Broadway comprises a retail unit and restaurant at ground floor level, with office space above. The retail units are currently let to bookseller Waterstones and Brazilian steak house Touro, and part of the office space is let to a medical recruitment consultancy. The asset has potential scope for future redevelopment and change of use.
Ed Hockley, director at Lothbury Investment Management, said: “This asset has been held in the Fund since inception and has performed well for us over this time. Our decision to dispose of the property is in line with our strategy of rebalancing the Lothbury portfolio away from retail and allow us to focus the efforts of our Active team on our target sectors such as the industrial property sector. Despite the difficulties in the retail sector, our strategy of always buying prime, and having a London / South East bias to our retail investments, has allowed our assets to remain liquid even in this most challenging environment”
