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State Parade High St 6,856 SF 100% Leased Retail Building Ilford IG6 2EZ $6,678,421 ($974.10/SF) 7.50% Cap Rate
Investment Highlights
- Prime position fronting onto Fullwell Cross Roundabout
- Excellent road and transport connections
- Close to local amenities and green spaces
Executive Summary
The property is to be sold subject to existing leases. The property is currently producing £400,545 per annum.
All commercial units are fully let, contributing £204,875 per annum. One unit is a double shop.
The residential units contribute £195,670 per annum. 11 of the flats are let on ASTs, 1 flat is let on a regulated tenancy with tenant in place for over 52 years (Flat 16), and 4 are sold off on long leases (Flats 3, 8, 9, and 11).
All commercial units are fully let, contributing £204,875 per annum. One unit is a double shop.
The residential units contribute £195,670 per annum. 11 of the flats are let on ASTs, 1 flat is let on a regulated tenancy with tenant in place for over 52 years (Flat 16), and 4 are sold off on long leases (Flats 3, 8, 9, and 11).
Property Facts
Sale Type
Investment
Property Type
Retail
Tenure
Freehold
Property Subtype
Storefront
Building Size
6,856 SF
Building Class
C
Year Built
1950
Price
$6,678,421
Price Per SF
$974.10
Cap Rate
7.50%
NOI
$500,882
Percent Leased
100%
Tenancy
Multiple
Building Height
3 Stories
Building FAR
0.63
Lot Size
0.25 AC
Parking
20 Spaces (0.92 Spaces per 1,000 SF Leased)
Amenities
- Automatic Blinds
- Storage Space
- Air Conditioning
Nearby Major Retailers
1 of 8
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State Parade | High St
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