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292-294 Walton Rd 9,053 sq ft 100% Let Retail Property West Molesey KT8 2HY £3,500,000 (£386.61/sq ft) 8.68% Net Initial Yield
INVESTMENT HIGHLIGHTS
- The property is to be sold freehold subject to the exisitng tenancies
- A sale at this level would reflect an 8.68% NIY off the current income and 10.26% NIY off the ERV
- Offers are invited in the region of £3,500,000
EXECUTIVE SUMMARY
Offers are invited in the region of £3,500,000 for the freehold interest. Offers will also be considered on the basis that the Seller retains the retail element on a 999-year lease if this were not of interest to a residential developer.
A sale at this level would reflect an 8.68% NIY off the current income and 10.26% NIY off the ERV, when allowing for purchase costs and assuming the 9-unit residential consent is worth £1,100,000.
A sale at this level would reflect an 8.68% NIY off the current income and 10.26% NIY off the ERV, when allowing for purchase costs and assuming the 9-unit residential consent is worth £1,100,000.
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Tenure
Freehold
Property Subtype
Shopfront Retail / Residential
Property Size
9,053 sq ft
Costar Property Class
C
Year Built
1985
Price
£3,500,000
Price per sq ft
£386.61
Yield
8.68%
NOI
£303,800
Occupancy Rate
100%
Tenancy
Multiple
Number of Floors
2
Plot ratio
0.36
Total Plot Size
0.58 ac
Frontage
91 ft on Walton Road
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292-294 Walton Rd
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