PPR acquires Uniqlo anchored retail parade in Kingston upon Thames
PPR Estates (PPR) confirms the addition of a town centre retail parade in Kingston upon Thames. The freehold site, comprising 4 retail shops (Uniqlo’s local destination store, Oseyo Korean Supermarket, Wings and Cass Art) includes 22,000sq ft of occupied commercial space, various flats on long leases and a private car park at grade to the rear for 35 vehicles represents an anchor investment within two minutes walk of Kingston upon Thames train station. The site GDV is estimated in excess of £20m today.
Jon Caplan, Managing Director of PPR comments “We see significant value in Kingston upon Thames and look forward to working with these new retail and commercial tenants, alongside our existing portfolio. This Clarence Street parade, with it’s high footfall and existing strong income is a resilient addition to our High Street Investment Fund.”
PPR has considerable further funds to invest in similar town centre site acquisitions in 2023. Known for our discrete and fast acquisition processes – we are particularly interested in acquiring mixed-use, town centre assets that meet our sustainable, value creation mission. You can view some of our other recent acquisitions here in Guildford, Norwich and Winchester.