M&G has bought Plough Lane Retail Park in Wimbledon, SW17, from BlackRock for £32.8m.
The scheme, which is located next to the AFC Wimbledon stadium, comprises six units across three buildings totalling 82,589 sq ft.
Occupiers include Lidl, Wickes, Pets at Home and Hobbycraft, with a combined contracted rent of £2m per annum.
The retail park was initially brought to the market in April last year with an asking price of £34.2m and the deal competed on Christmas Eve.
Much of the retail warehousing stock across the broader Wandsworth area in south-west London has been redeveloped for residential use.
In its Global Real Estate Outlook report for 2025, M&G identified retail parks as being at the forefront of a retail renaissance in Europe thanks to strong tenant demand, growing footfall and “sticky” occupancy from retailers in the supermarket and DIY sectors.
Morgan Williams acted for the vendor; Savills acted for the purchaser.
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