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Sutton – Modern Well-secured High Street Leisure & Retail Investment

287-309 High Street, Sutton, SM1 1AN

Property Type:
Commercial
Sub Type:
Retail
Net Initial Yield:
8%

Income

£511,274.50 pa

Description

  • Rare opportunity to acquire a prominent leisure and retail investment in the popular London suburb of Sutton
  • The property comprises a large mixed use development built in 2015 in which the residential uppers have been sold off on long leases
  • All tenants benefit from new leases with at least 9 years remaining until expiry
  • Tenants include Costa, Magnet, The Gym, EasyCoffee, Trade Tiles Direct and Poundstretcher
  • Freehold
  • Situated adjacent to a recently opened Sainsbury’s Supermarket
  • Circa 12 minute walk from both West Sutton Train Station and Sutton Train Station
  • The Gym Ltd has a fixed rental uplift in year 5 rising to £201,399 pa with all other tenants benefiting from five yearly open market rent reviews
  • The property comprises 27,789 sq ft (2,582 sq m) of ground floor retail and leisure accommodation
  • Total current rent passing of £511,274 pa

Offers sought in excess of £6,000,000 (Six Million  Pounds) subject to contract and exclusive of VAT. A purchase at this level reflects a Net Initial Yield of 8% assuming purchaser’s costs of 6.65%.

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