Duchy Acquires Waitrose Store in Coulsdon
In line with its strategy of investing in a diverse range of commercial opportunities in key locations, the Duchy of Lancaster has acquired a Waitrose food store comprising 17,000 square feet in the commuter town of Coulsdon.
The acquisition is a two-storey building on the high street opposite Coulsdon train station. The tenant, Waitrose, operates a food store on the premises under a lease which expires in 2034.
Commenting on the purchase, Duchy Head of Urban Mike Andrews said: “The site itself covers 0.7 acres and is in a key location. Coulsdon is an affluent commuter town with excellent transport and communication links into London. We are continually looking at opportunities to invest in key strategic locations and this purchase will add further diversification to our growing urban and commercial portfolio.”
This is the fourth commercial acquisition made by the Duchy of Lancaster since the start of the year. The Duchy was advised on the purchase by Marchmont Investment Management.