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State Parade High St 6,856 sq ft 100% Let Retail Property Ilford IG6 2EZ £5,000,000 (£729.29/sq ft) 7.50% Net Initial Yield
Investment Highlights
- Prime position fronting onto Fullwell Cross Roundabout
- Excellent road and transport connections
- Close to local amenities and green spaces
Executive Summary
The property is to be sold subject to existing leases. The property is currently producing £400,545 per annum.
All commercial units are fully let, contributing £204,875 per annum. One unit is a double shop.
The residential units contribute £195,670 per annum. 11 of the flats are let on ASTs, 1 flat is let on a regulated tenancy with tenant in place for over 52 years (Flat 16), and 4 are sold off on long leases (Flats 3, 8, 9, and 11).
All commercial units are fully let, contributing £204,875 per annum. One unit is a double shop.
The residential units contribute £195,670 per annum. 11 of the flats are let on ASTs, 1 flat is let on a regulated tenancy with tenant in place for over 52 years (Flat 16), and 4 are sold off on long leases (Flats 3, 8, 9, and 11).
Property Facts
Sale Type
Investment
Property Type
Retail
Tenure
Freehold
Property Subtype
Shopfront
Property Size
6,856 sq ft
Costar Property Class
C
Year Built
1950
Price
£5,000,000
Price per sq ft
£729.29
Yield
7.50%
NOI
£375,000
Occupancy Rate
100%
Tenancy
Multiple
Number of Floors
3
Plot ratio
0.63
Total Plot Size
0.25 ac
Parking
20 Spaces (0.92 Spaces per 1,000 sq ft Leased)
Amenities
- Roller Shutters
- Storage Space
- Air Conditioning
Nearby Major Retailers
1 of 8
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State Parade | High St
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