110-114 King Street, Hammersmith, London, W6
London - M25
Dba322
Tenure: Freehold
Tenancy: Multi-Let
Investment summary
• Double fronted two storey retail unit with four self contained two bedroom maisonettes.
• Located along Hammersmith’s prime retail thoroughfare, in direct proximity of Kings Mall Shopping Centre.
• Retail unit totalling 953.09 sq m (10,259 sq ft) with 291.71 sq m (3,141 sq ft) of residential acommodation.
• Nearby retailers include Maplin, Savers, Moss Bros, Iceland and Primark.
• Retail let to Argos Limited on a new 10 year lease with approximately 9.25 years unexpired.
• Low retail passing rent of £150,000 per annum with ERV of £189,500 per annum.
• Combined current passing rent of £192,840 per annum.
• Overall ERV of £262,300 per annum.
• Potential to develop additional residential units at second floor level subject to the necessary consents.
• Freehold interest.
• Seeking offers in excess of £3.75 million reflecting the following attractive profile, assuming standard Purchaser’s costs of 5.80%:
• 5.34%* Net Initial Yield.
• 6.61% Reversionary Yield.
• £280 per sq ft capital value.
*Assuming letting the vacant maisonette at ERV.