Commercial property Investment for sale
Prime Commercial Investment | M&S, The Boulevard, Imperial Wharf, London
Investment for sale
£7,350,000 / NIY 5.75%
Neighbouring Chelsea Harbour, Imperial Wharf is one of the most affluent and desirable locations in Central London
Located next to Imperial Wharf Station
Prime commercial unit let to Marks & Spencer Plc until September 2037 with a tenant only break in September 2027 giving approximately 7.5 years unexpired term certain
Sublet to boutique premium gym brand ONE LDN expiring in September 2027
ONE LDN have been trading since 2014 and are one of the most popular flagship boutique gyms in London
Virtual Freehold (999 year lease at a peppercorn)
GIA of 1,770.11 sq m (19,053 sq ft)
Current passing rent of £452,560 per annum (£23.75 per sq ft) with fixed uplifts every 5 years based on 2.5% per annum compounded
The rent increases to £512,030 per annum in September 2022
Offers in excess of £7,350,000 (seven million, three hundred and fifty thousand pounds) for its long leasehold interest subject to contract and exclusive of VAT. A purchase at this level reflects a net initial yield of 5.75% (Rising to 6.52% in 2022) assuming purchaser’s costs of 6.66%.
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