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After 20 years of ownership, FTSE-250 regeneration specialist St Modwen has put its 26-acre site at Edmonton Green on the market with an impressive £70 million price tag.
The company leaves a strong legacy behind: over £5 million in rent is generated every year from the scheme, which is comprised of hundreds of buildings with an array of functions, including a shopping centre, a market, a Travelodge hotel, sports centre and over 700 homes. St Modwen has also invested heavily in developing the site and buildings to attract new tenants, and has worked up plans that would enable new restaurants, homes and a cinema to be built.
However, after two decades the firm has decided it is time to move on and focus investments on its mega warehousing pipeline in order to capitalise on the ever-increasing logistics market.
This news was brought to you by Morgan Pryce, a specialist tenant acquisition agent with offices in Oxford Circus and the City. Morgan Pryce specialises in search, negotiation and project management and works exclusively for tenants.