Withdrawn

London, W1 – 118-122 Great Portland Street

118-122 Great Portland Street, Fitzrovia, London W1

Offers in excess of £6,215,000

Property Type:
Commercial
Sub Type:
Retail
Tenure:
Freehold
Net Initial Yield:
4.5%

Income

£298,500pa

Description

  • Freehold.
  • Prominently situated retail investment in Fitzrovia, a vibrant West End ‘village’ desirable to retailers, restaurateurs, occupiers, hoteliers and residents.
  • Located in a bustling commercial hub, one minute from the BBC’s TV & Radio broadcasting HQ and the intersection of the West End’s retail destination of Oxford Street & Regent Street.
  • Excellent transport links close to Oxford Street, Bond Street and Tottenham Court Road underground stations, which will improve further with Crossrail.
  • The immediate area benefits from increasing footfall as a result of placemaking initiatives and major infrastructure improvements including the delivery of HS2 at nearby Euston mainline and underground station.
  • Retail accommodation totalling 7,511 sq ft (697.8 sq m) arranged as two units over ground and basement floors.
  • Fully let to excellent covenants – Co-op Food and Headmasters.
  • WAULT of 11.0 years to lease expiries (3.4 years to breaks).
  • Residential uppers (‘sold off’) comprise 10 flats.
  • Total passing rent of £298,500 per annum.
  • Offers are invited in excess of £6,215,000 subject to contract and exclusive of VAT. Pricing at this level reflects a Net Initial Yield of 4.50% (assuming full purchaser’s costs of 6.63%).