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TWICKENHAM – Prominent Freehold Mixed Use Parade Investment & Development Opportunity

King Street, Twickenham TW1 3SD

Offers in excess of £23,500,000

Property Types:
Commercial, Development Opportunity
Sub Type:
Retail
Tenure:
Freehold

Income

£1,030,754 per annum

Description

  • Rare opportunity to acquire the freehold of a prominent parade with extensive development potential. STP.
  • Extremely affluent London suburb.
  • Prime trading location.
  • The property comprises 4,229.6 sq m (45,426 sq ft) of retail, office and residential accommodation arranged over basement, ground and two upper floors.
  • Freehold.
  • Strong tenant line up including Natwest, Boots, Boots Opticians, Iceland, Waterstones and Patisserie Valerie.
  • Total rent passing of £1,030,754 per annum.

Dataroom: www.kingstreettwickenham.com

PROPOSAL

Offers sought in excess of £23,500,000 (Twenty Three Million Five Hundred Thousand Pounds) subject to contract and exclusive of VAT. A purchase at this level would reflect an attractive net initial yield of 4.11% with a potential reversion of 4.83% after costs of 6.76%

DEVELOPMENT POTENTIAL

The property provides a number of potential residential led development opportunities (STP) including:

  • A residential development within the rear service area.
  • Potential to create an attractive new frontage facing towards the Diamond Jubilee Gardens and River Thames, which could also complement the London Borough of Richmond upon Thames’ emerging proposal for the development of adjacent land.
  • Immediate conversion from office to residential use through the application of ‘permitted development rights’ at the first floor of 23-25 King Street.