Log In/Sign up
Your email has been sent.
254-258 North End Rd 40,125 sq ft 100% Let Retail Property London SW6 1NJ £10,850,000 (£270.40/sq ft) 5.75% Net Initial Yield
INVESTMENT HIGHLIGHTS
- Versatile use
- Natural light
- Signage
EXECUTIVE SUMMARY
The property comprises a three storey purpose built commercial building. The asset sits on a rare freehold 0.4 acre site with a service yard to the rear.
The asset offers an extremely rare opportunity to acquire a freehold site of 0.4 acres in London’s travel Zone 2. There are notable developments in the local area that have already achieved planning permission demonstrating the local authority’s willingness and the commercial viability of developments of scale on North End Road.
The ground floor unit is let to Lidl Great Britain Limited for a term of 25 years from 18th April 2024 (23.6 years unexpired) at a passing rent of £393,000 pa
(£27.57 psf). Tenant option to break in years 15 and 20 (12.6 years unexpired). 5-yearly index linked rent review collar and capped at 1% and 2.5%,
respectively. Next rent review on 18th April 2029.
The first floor and Second Floor Unit let to The Gym Limited, trading as The Gym Group, for a term of 15 years from 13th February 2024 (13.4 years unexpired) at
a rent of £270,000 pa (£10.44 psf). Tenant option to break in year 10 (7.9 years unexpired). 5-yearly index linked rent review collar and capped at 1% and 3%.
Next rent review on 13th February 2029.
The asset offers an extremely rare opportunity to acquire a freehold site of 0.4 acres in London’s travel Zone 2. There are notable developments in the local area that have already achieved planning permission demonstrating the local authority’s willingness and the commercial viability of developments of scale on North End Road.
The ground floor unit is let to Lidl Great Britain Limited for a term of 25 years from 18th April 2024 (23.6 years unexpired) at a passing rent of £393,000 pa
(£27.57 psf). Tenant option to break in years 15 and 20 (12.6 years unexpired). 5-yearly index linked rent review collar and capped at 1% and 2.5%,
respectively. Next rent review on 18th April 2029.
The first floor and Second Floor Unit let to The Gym Limited, trading as The Gym Group, for a term of 15 years from 13th February 2024 (13.4 years unexpired) at
a rent of £270,000 pa (£10.44 psf). Tenant option to break in year 10 (7.9 years unexpired). 5-yearly index linked rent review collar and capped at 1% and 3%.
Next rent review on 13th February 2029.
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Tenure
Freehold
Property Size
40,125 sq ft
Costar Property Class
B
Year Built
1961
Price
£10,850,000
Price per sq ft
£270.40
Yield
5.75%
NOI
£623,875
Occupancy Rate
100%
Tenancy
Multiple
Number of Floors
3
Loading Docks
2 Exterior
Floor To Floor Height
10 ft
Plot ratio
2.41
Total Plot Size
0.38 ac
Parking
15 Spaces (0.37 Spaces per 1,000 sq ft Leased)
Frontage
67 ft on North End Rd
AMENITIES
- Bus Route
- Signage
- Air Conditioning
NEARBY MAJOR RETAILERS
1 of 7
VIDEOS
MATTERPORT 3D EXTERIOR
MATTERPORT 3D TOUR
PHOTOS
STREET VIEW
STREET
MAP
Presented by
254-258 North End Rd
Already a member? Log In
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.