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

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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
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
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
View Photo Interior
View Photo Interior

NEARBY MAJOR RETAILERS

Pret a Manger
Caffè Nero
Starbucks
Costa Coffee
Itsu
Zizzi
Nando's
Bill's
Tossed
Coco Di Mama
  • Listing ID: 30041098

  • Date on Market: 13/11/2023

  • Last Updated:

  • Address: Monck St, London SW1P 2BQ

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