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254-258 North End Rd 40,125 SF 100% Leased Retail Building London SW6 1NJ $14,456,451 ($360.29/SF) 5.75% Cap Rate
INVESTMENT HIGHLIGHTS
- Versatile use
- Natural light
- Signage
EXECUTIVE SUMMARY
The property comprises a three storey purpose built commercial building. The asset sits on a rare freehold 0.4 acre site with a service yard to the rear.
The asset offers an extremely rare opportunity to acquire a freehold site of 0.4 acres in London’s travel Zone 2. There are notable developments in the local area that have already achieved planning permission demonstrating the local authority’s willingness and the commercial viability of developments of scale on North End Road.
The ground floor unit is let to Lidl Great Britain Limited for a term of 25 years from 18th April 2024 (23.6 years unexpired) at a passing rent of £393,000 pa
(£27.57 psf). Tenant option to break in years 15 and 20 (12.6 years unexpired). 5-yearly index linked rent review collar and capped at 1% and 2.5%,
respectively. Next rent review on 18th April 2029.
The first floor and Second Floor Unit let to The Gym Limited, trading as The Gym Group, for a term of 15 years from 13th February 2024 (13.4 years unexpired) at
a rent of £270,000 pa (£10.44 psf). Tenant option to break in year 10 (7.9 years unexpired). 5-yearly index linked rent review collar and capped at 1% and 3%.
Next rent review on 13th February 2029.
The asset offers an extremely rare opportunity to acquire a freehold site of 0.4 acres in London’s travel Zone 2. There are notable developments in the local area that have already achieved planning permission demonstrating the local authority’s willingness and the commercial viability of developments of scale on North End Road.
The ground floor unit is let to Lidl Great Britain Limited for a term of 25 years from 18th April 2024 (23.6 years unexpired) at a passing rent of £393,000 pa
(£27.57 psf). Tenant option to break in years 15 and 20 (12.6 years unexpired). 5-yearly index linked rent review collar and capped at 1% and 2.5%,
respectively. Next rent review on 18th April 2029.
The first floor and Second Floor Unit let to The Gym Limited, trading as The Gym Group, for a term of 15 years from 13th February 2024 (13.4 years unexpired) at
a rent of £270,000 pa (£10.44 psf). Tenant option to break in year 10 (7.9 years unexpired). 5-yearly index linked rent review collar and capped at 1% and 3%.
Next rent review on 13th February 2029.
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Tenure
Freehold
Building Size
40,125 SF
Building Class
B
Year Built
1961
Price
$14,456,451
Price Per SF
$360.29
Cap Rate
5.75%
NOI
$831,246
Percent Leased
100%
Tenancy
Multiple
Building Height
3 Stories
Loading Docks
2 Exterior
Slab To Slab
10’
Building FAR
2.41
Lot Size
0.38 AC
Parking
15 Spaces (0.37 Spaces per 1,000 SF Leased)
Frontage
67’ on North End Rd
AMENITIES
- Bus Line
- Signage
- Air Conditioning
NEARBY MAJOR RETAILERS
1 of 7
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254-258 North End Rd
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