Sold

New Palace Place, Monck Street, London, SW1

London - M25

dba283

Mixed Use
£6,215,000

Tenure: Virtual Freehold
Tenancy: Multi Let

Investment summary

•2005 built London Borough of Westminster property.

•Arranged over ground floor and comprising supermarket, restaurant, retail and office units.

•Virtual freehold.

•Occupiers include Tesco, Coral, Galliard and HDR.

•Approximately 19,092 sq ft.

•A few minutes walk from both Westminster and Pimlico Underground Stations.

•Average weighted unexpired lease term of approximately 6.5 years.

•Strong Government occupational presence locally. The property backs onto the 500,000 sq ft Home Office Head Quarters, which employs over 3,500 people.

•Current rent of £509,390 per annum with reversion to £554,233 per annum on settlement of the Tesco rent review (08/2010) and re-letting of unit 7.

•We are seeking offers of £6,215,000 which shows a net initial yield of 7.75% and a reversion to 8.43%.

Contact us for further information
Telephone: +4420 7323 1010
Facsimile: +4420 7323 6600
Email: info@dbaprop.co.uk
Website: www.dbaprop.co.uk

Address:
DBA
91 Wimpole Street
London
W1G 0EF


Misrepresentation Clause

DBA Advisors Ltd for themselves, their Associated Companies, their employees and for the vendors or lessors of the properties whose agents they are give notice that:
1. All particulars or properties provided are given as a general outline only for the guidance of intending purchaser, lessee or tenant, and do not constitute, nor constitute part of, an offer or contract.
Whilst all particulars of properties given including but not limited to descriptions, dimensions, references to condition and necessary permissions for use and occupation and maps are believed to be correct and are given in good faith, they are however given without responsibility on the part of David Baroukh Associates their Associated Companies, their employees and or the vendors or lessors as the case may be.
2. None of the statements contained in any particulars is to be relied upon as a statement or representation of fact.
3. Any intending purchaser or lessee or tenant should not rely on any particulars provided by us and must satisfy themselves by inspection or otherwise as to the correctness of each statement made in such particulars.
4. The vendor or lessor (as the case may be) do not make or give and neither DBA Advisors Ltd, their Associated Companies or any person in their employment have any authority to make or give any representation or warranty whatever in relation to any properties.