37 Alexander St 787 SF 100% Leased Retail Building London W2 5NU $572,313 ($727.21/SF) 5.88% Cap Rate

Investment Consideration:
Gross Initial Yield: 5.88%
Rental Income: £25,000 p.a.
VAT is NOT applicable to this property
Comprises ground floor retail premises with ancillary at basement
Prominent corner location with allocated outdoor space at the front
Situated in a quiet residential area within 5 min walk from Royal Oak Underground Station with nearby occupiers including Veterinary Clinic and others.
Property Description:
Comprises prominent corner retail premises t/a medical clinic arranged over ground floor and basement, providing the following accommodation and dimensions:
Ground Floor: 35 sq m (377 sq ft)
Reception, Retail
Basement: 38 sq m (410 sq ft)
Treatment rooms, wc
Tenancy:
The property is at present let to Portobello Girl Beauty Limited for a term of 10 years from 8th June 2018 at a current rent of £25,000 p.a. and the lease contains full repairing and insuring covenants. Break clause in 2023 NOT exercised. Rent review from 2023 outstanding.
Tenure:
Long leasehold. Held on a 999 Year lease from 25th December 1988 at a ground rent of peppercorn.
Location:
The property is situated in a highly sought after area of West London, North of Bayswater and west of Paddington, close to local shops and amenities with the more extensive facilities of Whiteleys Shopping Center in close proximity. The open spaces of Hyde Park are within easy reach. The closest underground station is Royal Oak, situated 5 min walk and providing Circle and Hammersmith & City Lines.services.