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Hanworth – Mixed Use Commercial / Residential Building Occupying A Large Site In West London
Rex House, 25-43 Hampton Road West, Hanworth, London, TW13 6AP
Offers in excess of £3,500,000
- Property Types:
- Commercial, Mixed, Residential
- Sub Types:
- Office, Retail
- Tenure:
- Freehold
- Net Initial Yield:
- 7.44%
Income
£277,465 pa
Description
- Mixed use commercial / residential building in popular West London suburb
- Comprising 5 retail units and car forecourt on the ground floor and 32 residential units above
- Residential element includes 11 flats let on ASTs and 21 held on long leasehold basis
- Low existing site cover of 36%, with potential to extend / develop subject to consent
- Producing a total income of £277,465 per annum
- 70% of the commercial income is let to Very Low Risk or Low Risk tenant covenants
- Average unexpired lease term of 4.84 years until lease expiry on the commercial element
- Heads of Terms have been agreed for a new 15 year lease (breaks in 5 & 10) with Subway demonstrating sustainable rental levels
- Residential is fully let
- Site offering excellent long term redevelopment opportunity subject to consent