The former Toys ‘R’ Us unit in Croydon has been sold for £16.1m, with the 42,741 sq ft. freehold property being purchased by an undisclosed buyer.
We can also confirm that the legal dispute concerning the portfolio has now been settled and that it is mandated to deliver an agreed business plan which is designed to maximise returns to the secured lenders and other stakeholders.
Joint agents appointed to market the properties are Cushman & Wakefield and Morgan Williams.
The Toys ‘R’ Us estate originally comprised 31 property assets owned by Toys ‘R’ Us Properties (UK) Ltd.
Following Toys ‘R’ Us entering administration in February 2018, we were appointed to provide full asset, property and facilities management to the estate.
There are currently 24 assets remaining for disposal with the completion of the business plan for the entire estate expected in 2020.
