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32 Warwick Way 941 SF Retail Building London SW1V 1RY $572,597 ($608.50/SF) 7.21% Cap Rate
Investment Highlights
- The premises are used as a betting office (sui generis)
- Mid-terrace property comprising a single retail unit
- The property is held long leasehold for a term of 150 years
Executive Summary
No. 32 is a mid-terrace property comprising a single retail unit on ground and basement floors and two residential apartments on the 1st, 2nd and mezzanine floors, which are accessed via their own independent entrance. The apartments each comprise 2-bedrooms, kitchen/dining area and bathroom. The 2nd floor apartment has access to a large roof terrace at roof level.
• Long leasehold mid terraced retail and residential property for sale.
• Situated in one of London's most affluent Boroughs.
• Located in the heart of Pimlico on one of its main retail thoroughfares.
• Nearby occupiers include Little Waitrose, Tesco Express, Holland & Barrett and Cafe Nero.
• Retail single let to William Hill Organisation Limited (Company No: 00278208) at a passing rent of £31,000 per annum (£32.94 per sq ft overall) until 6th October 2030.
• Residential comprising two 2 bed apartments sold off on long leases.
• There is the opportunity to regear the residential leases.
• The premises are not VAT elected.
• The Vendors are seeking offers of £420,000 for the long leasehold interest, reflecting a cap value of £445 per sq ft and a net initial yield of 7.21%.
• Long leasehold mid terraced retail and residential property for sale.
• Situated in one of London's most affluent Boroughs.
• Located in the heart of Pimlico on one of its main retail thoroughfares.
• Nearby occupiers include Little Waitrose, Tesco Express, Holland & Barrett and Cafe Nero.
• Retail single let to William Hill Organisation Limited (Company No: 00278208) at a passing rent of £31,000 per annum (£32.94 per sq ft overall) until 6th October 2030.
• Residential comprising two 2 bed apartments sold off on long leases.
• There is the opportunity to regear the residential leases.
• The premises are not VAT elected.
• The Vendors are seeking offers of £420,000 for the long leasehold interest, reflecting a cap value of £445 per sq ft and a net initial yield of 7.21%.
Property Facts
Sale Type
Investment
Property Type
Retail
Tenure
Long Leasehold
Property Subtype
Storefront Retail/Residential
Building Size
941 SF
Building Class
B
Year Built
1910
Price
$572,597
Price Per SF
$608.50
Cap Rate
7.21%
NOI
$41,284
Tenancy
Single
Building Height
3 Stories
Building FAR
1.08
Lot Size
0.02 AC
Amenities
- Controlled Access
- Security System
- Signage
- Energy Performance Rating - D
- Storage Space
- Smoke Detector
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32 Warwick Way
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