Sold

Swindon – Fleetway House, Fleet Street, SN1 1RA

Fleetway House, Fleet Street, Swindon SN1 1RA

Offers in excess of £3,000,000

Property Types:
Commercial, Development Opportunity, Mixed, Residential
Sub Type:
Retail
Net Initial Yield:
9.53%

Income

£335,000 per annum

Description

*Price reduced*

Investment Considerations

  • Located in the historic town of Swindon
  • Close to prime retail pitch
  • Freehold
  • Basement, ground and first floor (37,342 sq ft) let to strong covenant of Wilkinson Hardware Stores Ltd
  • Unexpired lease term of approximately 2.24 years
  • Current passing rent of £335,000 pa 
  • Comprising 49,581 sq ft (4,624.87 sq m)GIA
  • Rare town centre ‘large format’ store
  • Situated 0.5 miles from the Swindon Rail Station
  • Direct train to London Paddington in 37 minutes (end of 2017)

Development Potential

  • Planning consent has been granted for change of use of 2nd floor to 12 no. flats (8,180 sq ft GIA)
  • The property has potential for a comprehensive redevelopment or an increase in density through additional floors
  • Potential for alternative uses on upper floors such as hotel or gym

Offers are sought in excess of £3,000,000 (Three Million Pounds) subject to contract and exclusive of VAT. A purchase at this level reflects a net initial yield of 9.53% after allowing for purchaser’s costs and a low capital value of £66 psf.

Dataroom

For access to the Allsop Dataroom please use the following link: https://datarooms.allsop.co.uk/register/wilkoswin