170-176 The Broadway is more locally known as Gerrys of Wimbledon, a long established family business specialising in a wide range of sporting goods and accessories. Following retirement, 55 years of business has come to an end.
The ground floor, comprising 5,649 sq. ft. (524.81 sq. m.) of retail space, was let by Andrew Scott Robertson in excess of the quoted rent of ?125,000 per annum. Strong interest was received from a broad selection of retailers and terms were quickly agreed with British furniture and homeware brand,Neptune in March 2016. The new Wimbledon store will be its seventeenth opening and third in the London area with two other locations in Fulham and Chiswick. Neptune’s other sites are spread across the rest of the UK as well as Europe.
Following closure of the business, a substantial fit-out will take place ahead of opening in summer 2016. Neptune will occupy on a new full repairing and insuring terms 10 year lease, subject to a tenant break at the end of the 5th year.
Stewart Rolfe, Director of Commercial Agency at Andrew Scott Robertson, comments ?Wimbledon remains a target destination for high end retailers and further demonstrates why Wimbledon continues to have one of the lowest shop vacancy rates in the country at 1.77% (as at the end of 2015). This compares to the London average of 6.5% and a national average of 9.1% over the same period.?
Further information:ASR News
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