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New Rd 74,897 SF 100% Leased Retail Building Watford WD17 2EU $34,568,363 ($461.55/SF) 6.35% Cap Rate
INVESTMENT HIGHLIGHTS
- Excellent road communications
- Access to central London via Underground (Metropolitan line)
- Served by the West Coast Main Line
EXECUTIVE SUMMARY
Rare opportunity to acquire one of the south east’s premier purpose-built retail warehouse parks in Watford.
Fully let to Next, Home Bargains, Boots, Pure Gym and Smyths Toys. Gross passing rent of £1,880,771 per annum equating to an affordable average rent of c. £25.00 per sq ft.
Medium to long-term redevelopment potential; zoned for residential in 2022 Local Plan.
Fully let to Next, Home Bargains, Boots, Pure Gym and Smyths Toys. Gross passing rent of £1,880,771 per annum equating to an affordable average rent of c. £25.00 per sq ft.
Medium to long-term redevelopment potential; zoned for residential in 2022 Local Plan.
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Tenure
Long Leasehold
Building Size
74,897 SF
Building Class
B
Year Built
2001
Price
$34,568,363
Price Per SF
$461.55
Cap Rate
6.35%
NOI
$2,195,091
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.36
Lot Size
4.75 AC
Parking
328 Spaces (4.38 Spaces per 1,000 SF Leased)
AMENITIES
- Security System
- Signage
- Storage Space
- Air Conditioning
NEARBY MAJOR RETAILERS
1 of 4
VIDEOS
MATTERPORT 3D EXTERIOR
MATTERPORT 3D TOUR
PHOTOS
STREET VIEW
STREET
MAP
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New Rd
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