Prime Mayfair retail and office investment on South Molton Street, W1
65-68 South Molton Street & 32 Brook Street, Mayfair, London W1
Sold for £55,000,000
- Property Type:
- Sub Type:
- Net Initial Yield:
- Site Area:
- 14,757 sq.ft [1,371 sq.m]
- Rare Mayfair virtual Freehold Mayfair is London’s most exclusive district with the world’s finest retailing provision.
- Prominent corner property providing 50 metres of retail frontage on South Molton Street and Brook Street, opposite Claridge’s.
- Situated a 1 minute walk from both entrances to the new Bond Street Crossrail Station opening in December 2018, and a 4 minute walk from Oxford Circus Station.
- Immediate area set to benefit from nearby developments and major infrastructure improvements.
- Property provides a total of 14,757 sq ft (1,370.8 sq m) of retail and office accommodation.
- Fully let to a diverse tenant base producing a total rental income of £1,651,050 per annum, anchored by retail tenants Links of London and Thomas Sabo.
- Two thirds of the total income is from the retail units.
- Average retail rent of £470 Zone A, offering a significant discount to £2,000 Zone A on Bond Street to the south and £1,150 Zone A on Oxford Street to the north.
- Low passing office rent of only £57.30 per sq ft, equating to circa 50% of Grade A Mayfair rental levels, with highly lettable average floorplates of 3,000 sq ft.
- Both retail and office rental levels offer significant potential for future growth as a result of the imminent infrastructure improvements.