72-76 High Street, Bromley, Kent
London - M25
Dba321
Tenure: Freehold
Tenancy: Single Let
Investment summary
• Highly visible corner retail unit with upper parts.
• Prominent position along Bromley’s pedestrianised section of High Street, opposite one of the main entrances to The Glades Shopping Centre.
• Surrounded by numerous national multiple retailers including Boots, Gap, H&M, Pret A Manger and Russell & Bromley.
• Total accommodation of 4,900 sq ft with one car parking space.
• New 15 year lease to Metrobank Plc from 5 November 2010 providing a long unexpired term of just under 12.75 years.
• Current passing rent of £175,000 per annum reflecting £106 Zone A.
• ERV of £188,500 per annum, £115 Zone A.
• Freehold interest.
• Seeking offers in excess of £2.65 million reflecting an attractive Net Initial Yield of 6.24% and Reversionary Yield of 6.72%, assuming standard Purchaser’s costs of 5.80%.