Sold

Prime City Freehold Retail Investment Opportunity, London EC3

56/57 Cornhill, London EC3

Sold for £1,587,500

Property Type:
Commercial
Sub Type:
Retail
Tenure:
Freehold
Net Initial Yield:
4.15%
Site Area:
949 sq.ft [88 sq.m]

Tenancy

The retail unit is let to Wokit Limited for a term of 15 years from May 2017 at an initial rent of £70,000 per annum (£73.76 per sq ft). There is a tenant's option to determine at the 10th anniversary of the term.

Income

£70,000 per annum

Description

  • Prime City retail investment opportunity.
  • The property occupies a prominent position on Cornhill, close to its junction with Gracechurch Street.
  • The property benefits from being situated in close proximity to a wide range of local amenities including the exclusive Royal Exchange and historic Leadenhall Market.
  • The property comprises 949 sq ft (88.2 sq m) of A3 accommodation across lower ground, ground and first floors.