Sold

401 King Street, Hammersmith, London W6

401 King Street, Hammersmith, London W6

Offers in excess of £14,350,000

Property Type:
Commercial
Tenure:
Freehold
Net Initial Yield:
5.00%
Site Area:
24,566 sq.ft

Income

766,026

Description

  • Prominent Freehold corner office building with ground floor retail, totalling 24,566 sq ft (2,282 sq m)
  • Site area of 0.45 Acres with 65% site cover, and rear surface car park for 23 vehicles.
  • Total passing rent of £766,026 per annum reflecting a low average rent of £31.18 per sq ft, offering significant reversion.
  • Most recent letting in the building achieved £39.92 per sq ft in March 2015.
  • Tenants include Qantas Airways Limited and Journey Latin America
  • Block office lease expiry date of March 2019
  • Substantial refurbishment in 2009 including new lifts, refurbished common parts and cooling.
  • Potential to drive value through building repositioning, reconfiguring ground floor retail/office mix, or possible alternative uses.
  • Indicative office scheme to extend third floor and gain additional fourth floor providing circa 5,000 sq ft NIA additional floor area
  • Opportunity for commercial / residential development of the car park site to the rear of the property