Savills and CBRE sell prime retail space near Liberty Shopping Centre
Savills, alongside CBRE, has sold 56-72 Market Place in Romford, currently home to Debenhams on behalf of a private Irish client for £12m
The 228,066 sq ft property is let on a single lease to Debenhams. The building fronts Market Place within the main shopping district of Romford and is close to both the Liberty Shopping Centre and Brewery Shopping Centre.
Toby Ogilvie Smals, investment director at Savills, commented “The Debenhams in Romford was a great project to work on and we are delighted to secure such a strong result for our client. The preparation of the asset for sale was meticulous, working with architects, planners and the Council in order to present the potential for the asset in the best possible light.”
Mark Garmon-Jones, head of Savills shopping centre investment and repurposing, added: “We are seeing considerable appetite for redevelopment and repurposing opportunities as investors and developers look to unlock the latent value in retail centres and assets in Greater London and across the rest of the UK.”
