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117-129 Baker St 6,135 sq ft 100% Let 4-Star Retail Property London W1U 6SD £7,550,000 (£1,230.64/sq ft) 6.10% Net Initial Yield
Investment Highlights
- Connection to the Metropolitan, Jubilee, Circle, District and Bakerloo Lines
- Excellent natural light
- Opposite Baker Street Underground Station, benefiting from 21.5+ million annual passenger movements
Executive Summary
A rare opportunity to acquire a highly prominent mixed-use freehold asset in one of Central London’s most established retail and leisure destinations. The property is situated opposite Baker Street Underground Station, benefiting from over 21.5 million annual passenger movements, and extends to 6,135 sq ft across four units with extensive frontage onto both Baker Street and Bickenhall Street. It generates a current rent of £491,000 per annum and is secured to strong national covenants, including Bill’s Restaurants and Robert Dyas. There is reversionary evidence in the immediate vicinity, alongside long-term income security reflected in a 9.1-year WAULT, with 90% of the income secured beyond seven years. The asset is offered at a guide price of offers in excess of £7.55 million, reflecting a net initial yield of 6.1%.
Property Facts
Sale Type
Investment
Property Type
Retail
Tenure
Freehold
Property Subtype
Shopfront Retail / Residential
Property Size
6,135 sq ft
Costar Property Class
B
LoopNet Rating
4 Star
Year Built
1810
Price
£7,550,000
Price per sq ft
£1,230.64
Yield
6.10%
NOI
£460,550
Occupancy Rate
100%
Tenancy
Multiple
Number of Floors
7
Frontage
47 ft on Baker Street
Amenities
- Security System
- Storage Space
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Nearby Major Retailers
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117-129 Baker St
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