105 Salusbury Road, Queens Park, London, NW6
London - M25
Dba314
Tenure: Freehold
Tenancy: Multi-Let
Investment summary
• Prominent mixed use investment located in the affluent Queens Park, less than 3 miles from Central London.
• Situated on Salusbury Road, Queens Park’s main retail and restaurant pitch and core office focus.
• Art deco property configured as offices, health club and supermarket.
• Total accommodation of 3,440.8 sq m (37,038 sq ft) arranged over three storeys.
• 38 parking spaces providing an excellent ratio of 1:975 sq ft overall.
• Total current passing rent of £649,240 per annum.
• Reversionary offices let at a low passing rent of £20.31 per sq ft, gym let at £7.95 per sq ft, and rack rented supermarket.
• Multi let to ITE Group, Fitness First and Sainsbury’s with 89% of the income secured against Minimum Risk covenants.
• Average weighted unexpired term certain of 9.12 years.
• Outline planning consent for the development of two additional floors to provide 14 private penthouses with a Gross Internal Area of 959.2 sq m 10,324 sq ft).
• Freehold interest.
• Multiple asset management opportunities to enhance value.
• Seeking offers in excess of £11.75 million (Eleven Million, Seven Hundred and Fifty Thousand Pounds) reflecting the following profile, excluding any income or receipts from the consented planning permission:
• Net Initial Yield: 5.22%
• Equivalent Yield: 5.57%
• Reversionary Yield: 5.61%
• Capital Value Per Sq Ft: £317
• Low capital value of £248 per sq ft including the consented development.
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