DTZ Investors has bought Croydon’s Purley Cross Retail Park for £59m, from Oval Real Estate.

The Purley Cross Retail Park, is fully-let and 126,410 sq ft, comprising five units situated on an 8.6-acre site. Tenants include Smyths Toys, Currys, Starbucks, Aldi and M&S supermarkets.

Ben Haller, director at DTZ Investors, said: “We are delighted to have secured this asset with such strong fundamentals. The occupational dynamics in Croydon, in tandem with the WAULT and tenant profile, offers resilient income with prospects for growth.

“The underlying location gives flexibility for alternative land uses over the long term, whilst the quality of physical real estate immediately strengthens the fund’s responsible investment objectives.”

Green & Partners and DTRE acted jointly for the vendor.