MapRetail property (high street)
Retail property (high street)
2,764 sq ft / 257 sq m
Features and description
- Tenure: Leasehold
- Prime Central London retail investment arranged over ground and lower ground floors (2,764 sqft / 256.78 sqm NIA).
- New 250 year long-leasehold at a peppercorn rent.
- Low newly rebased rent of £86,000 pa (previous rent £120,000 pa).
- Let to Waterstones Bookselleres Limited until 27/05/2029.
- We are instructed to seek offers in excess of £1,600,000 (One Million Six Hundred Thousand Pounds), subject to contract. A purchase at this level would reflect a Net Initial Yield of 5.06% (assuming
Description
The subject premises comprise a Class E Retail premises arranged over Ground & Lower Ground Floors. Waterstones also occupy the premises to the rear of 17 New Row (9-13 Garrick St) which is owned by a different owner under a separate lease and does not form part of this sale.
Location
The Central London iconic district of Covent Garden is bounded by Leicester Square, Trafalgar Square and Soho, and to the north and east by Holborn and the Mid-Town district.
Covent Garden benefits from c44 million visitors per year who come to experience the world class shops, restaurant and leisure facilities on offer. It is London’s main theatre and entertainment area, offering world class attractions such as the Royal Opera House, Covent Garden Piazza and the Theatre Royal. It is home to 13 theatres and over 60 pubs and bars, providing vibrancy & trading activity from morning to evening.
New Row is a busy pedestrianised retail street linking Bedford Street and St Martin’s Lane. The subject property is situated on the north side of New Row directly opposite Bedfordbury. New Row is one of the main thoroughfares leading into the centre of Covent Garden.
Covent Garden and Leicester Square underground stations are located within a few minutes walking distance. Charing Cross and Waterloo mainline stations are also located close by.
The subject premises comprise a Class E Retail premises arranged over Ground & Lower Ground Floors. Waterstones also occupy the premises to the rear of 17 New Row (9-13 Garrick St) which is owned by a different owner under a separate lease and does not form part of this sale.
Location
The Central London iconic district of Covent Garden is bounded by Leicester Square, Trafalgar Square and Soho, and to the north and east by Holborn and the Mid-Town district.
Covent Garden benefits from c44 million visitors per year who come to experience the world class shops, restaurant and leisure facilities on offer. It is London’s main theatre and entertainment area, offering world class attractions such as the Royal Opera House, Covent Garden Piazza and the Theatre Royal. It is home to 13 theatres and over 60 pubs and bars, providing vibrancy & trading activity from morning to evening.
New Row is a busy pedestrianised retail street linking Bedford Street and St Martin’s Lane. The subject property is situated on the north side of New Row directly opposite Bedfordbury. New Row is one of the main thoroughfares leading into the centre of Covent Garden.
Covent Garden and Leicester Square underground stations are located within a few minutes walking distance. Charing Cross and Waterloo mainline stations are also located close by.
Property information from this agent
About this agent
Robert Irving Burns - Commercial
Robert Irving Burns, Ground Floor,
19 Margaret Street, London,
W1W 8RR
020 8033 7560Commercial Property Agents in London Whether you want to lease your commercial property, or find the right premises to rent, we can help. RIB’s industry insight and expertise guarantee a smooth, seamless process; from marketing and letting, to acquiring the ideal property. Our commercial letting services include both property disposal and property acquisition. We also have a wide selection of London offices, which are available to rent. We work with investors, developers, tenants and property owners alike, assisting with everything from finding great premises, to marketing and letting the property to the ideal business. Commercial property disposal in London can be complex, and finding a suitable tenant is always a top priority. We help with every aspect of this process, including marketing, negotiations, and liaising with solicitors and professional advisors. Our commercial property acquisition service helps tenants find the perfect place to run their business. From negotiating contracts to carrying out an audit of available properties, our team are here to offer support and guidance. And, if you’re searching for offices to rent in London, in areas such as Fitzrovia, Mayfair, Marylebone and Soho, we’ve got some excellent premises for you to choose from. Read on to find out how we can help you.