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NCP Portland Place, 6-7 Weymouth Mews, Marylebone, London W1
NCP Portland Place, 6-7 Weymouth Mews, Marylebone, London W1
Offers in the region of £740,000
- Property Type:
- Commercial
- Tenure:
- Long Leasehold
- Net Initial Yield:
- 6.0%
- Site Area:
- 5,482 sq.ft [509 sq.m]
Description
- Prime Central London Car Park comprising a total of 30 basement spaces.
- Site extending to approximately 5,500 sq ft (510 sq m) GIA.
- Medium-term long leasehold interest with approximately 35.75 years unexpired.
- Let to NCP Limited for a term expiring May 2037.
- 2017/2018 rent totalled £46,692.88 (next review June 2018).
- Annual fixed RPI linked increases collared and capped between 1.5%-5.0%.
- A purchase at 6.0% NIY rises to a yield of 10.2% in year 19 assuming 3% per annum RPI.
- NCP Limited (5A1 D&B rating) is jointly owned by Park24 and the Development Bank of Japan (DBJ) and is debt free.