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New Rd 74,897 sq ft 100% Let Retail Property Watford WD17 2EU £25,900,000 (£345.81/sq ft) 6.35% Net Initial Yield
Investment Highlights
- Excellent road communications
- Access to central London via Underground (Metropolitan line)
- Served by the West Coast Main Line
Executive Summary
Rare opportunity to acquire one of the south east’s premier purpose-built retail warehouse parks in Watford.
Fully let to Next, Home Bargains, Boots, Pure Gym and Smyths Toys. Gross passing rent of £1,880,771 per annum equating to an affordable average rent of c. £25.00 per sq ft.
Medium to long-term redevelopment potential; zoned for residential in 2022 Local Plan.
Fully let to Next, Home Bargains, Boots, Pure Gym and Smyths Toys. Gross passing rent of £1,880,771 per annum equating to an affordable average rent of c. £25.00 per sq ft.
Medium to long-term redevelopment potential; zoned for residential in 2022 Local Plan.
Property Facts
Sale Type
Investment
Property Type
Retail
Tenure
Long Leasehold
Property Size
74,897 sq ft
Costar Property Class
B
Year Built
2001
Price
£25,900,000
Price per sq ft
£345.81
Yield
6.35%
NOI
£1,644,650
Occupancy Rate
100%
Tenancy
Multiple
Number of Floors
1
Plot ratio
0.36
Total Plot Size
4.75 ac
Parking
328 Spaces (4.38 Spaces per 1,000 sq ft Leased)
Amenities
- Security System
- Signage
- Storage Space
- Air Conditioning
Nearby Major Retailers
1 of 4
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New Rd
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