Santander puts London shopping centre on the block

Santander has appointed Park Place Retail to find a new owner for the Tandem Centre in Colliers Wood, SW19. The 117,752 sq ft retail destination, which sits on a seven-acre site eight miles from central London, has a price tag of £56.1m. Tenants include Next, JD Sports, Clarks, WHSmith, TK Maxx, Homesense, Boots and Sports Direct. Food and beverage operators at the site include Starbucks, McDonald’s and Nando’s. The scheme produces a rental income of £3.9m per annum, reflecting a net initial yield of 6.5%. Tandem Centre forms a part of a wider regional shopping hub with a neighbouring 130,000 sq ft Marks & Spencer store, 105,000 sq ft Sainsbury’s and the 67,333 sq ft Priory Retail Park. Photo from Park Place Retail