Commercial property
Sold
Prime Central London Freehold, 160-166 Kensington High Street, London

Investment for sale
£27,600,000 / NIY 4.25%
Summary
  • Prime mixed use, freehold investment located in one of central London's most popular shopping locations
  • Attractive period building comprising 21,402 sq ft of quality retail and office accommodation with residential above
  • 74% of the income is secured from 5A1 covenants, Metro Bank Plc and Argos Ltd
  • Total income £1,254,000 per annum, reflecting £207 - £213 Zone A for the retail and £44 per sq ft for the office income
  • Adjoining retail units achieving headline £237 Zone A, which supports strong rental growth off the passing rents
  • Offers in excess of £27,640,000 subject to contract and exclusive of VAT
  • Net initial yield of 4.24%, assuming purchaser's costs of 6.76% and a capital value rate of £1,291 per sq ft overall
Done
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