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:
£1,030,754 per annum
- 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.
- Strong tenant line up including Natwest, Boots, Boots Opticians, Iceland, Waterstones and Patisserie Valerie.
- Total rent passing of £1,030,754 per annum.
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%
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.