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Monck St - Westminster Quarter 1,109 sq ft Retail Unit Offered at £900,000 in London SW1P 2BQ



INVESTMENT HIGHLIGHTS
- Close to St James' Park, Westminster, Pimlico & Victoria Station
- Amenities nearby
- Good road connections
EXECUTIVE SUMMARY
The property is located in the Victoria and Westminster sub-market, which form a core Central London district in the heart of the capital. The area is bounded by Mayfair and St James’s to the north, Belgravia and Knightsbridge to the west, the River Thames to the east and Pimlico to the south. Westminster Quarter is situated on the west side of Monck Street, close to its junction with Great Peter Street. Monck Street links Horseferry Road to the south with Great Peter Street to the north. The surrounding area is a hugely popular commercial and residential location, with the European headquarter offices of Giorgio Armani, Tom Ford, Jimmy Choo, John Lewis and Burberry all within close proximity. Situated directly opposite the property is Tesco Express, Itsu, EAT, Starbucks and Pret on Monck Street’s respective junctions. The property benefits from excellent public transport links. St James’s Park Station (Circle and District) is situated circa 375m to the north west of the property, Westminster Station (Jubilee and Circle and District lines) is 650m to the north east, Pimlico Station (Victoria line) is 850m to the south and Victoria Station (National Rail, Victoria and Circle and District lines) is located circa 900m to the west. There are also numerous bus routes servicing the local area.
PROPERTY FACTS
| Total Property Size | 37,730 sq ft | Floors | 6 |
| Property Type | Retail (Unit) | Typical Floor Size | 3,971 sq ft |
| Property Subtype | Shopfront Retail / Residential | Year Built | 2017 |
| Costar Property Class | B | Total Plot Size | 0.36 ac |
| Total Property Size | 37,730 sq ft |
| Property Type | Retail (Unit) |
| Property Subtype | Shopfront Retail / Residential |
| Costar Property Class | B |
| Floors | 6 |
| Typical Floor Size | 3,971 sq ft |
| Year Built | 2017 |
| Total Plot Size | 0.36 ac |
AMENITIES
- Air Conditioning
1 UNIT AVAILABLE
Unit 4a
| Unit Size | 1,109 sq ft | Sale Type | Investment |
| Price | £900,000 | Tenure | Long Leasehold |
| Price Per sq ft | £811.54 | Net Initial Yield | 6.00% |
| Unit Use | Retail | NOI | £54,000 |
| Unit Size | 1,109 sq ft |
| Price | £900,000 |
| Price Per sq ft | £811.54 |
| Unit Use | Retail |
| Sale Type | Investment |
| Tenure | Long Leasehold |
| Net Initial Yield | 6.00% |
| NOI | £54,000 |
DESCRIPTION
Prominent new build retail unit with extensive full height glazed frontage, forming part of the Westminster Quarter scheme by Taylor Wimpey.
SALE NOTES
The property is let to Step By Me CIC on a new IRI lease for a term of 10 years from July 2023.
The property is held on Long Leasehold for a term of 999 years from November 2015 at a fixed peppercorn ground rent
Passing rent of £56,000 + VAT per annum
Offers sought in excess of £900,000, reflecting a NIY of 6%, after purchasers costs of 3.4% and a capital value £812 per sq ft
Interior
Interior
NEARBY MAJOR RETAILERS
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Monck St - Westminster Quarter
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