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Retail property (high street) for sale
178 King Street, London, W6 0RA
Under offer
Retail property (high street)
756 sq ft / 70 sq m
Features and description
- Tenure: Freehold
- Total area of ground floor commercial unit - 756 square feet
- Central retail location in Hammersmith
- Sale price of £600,000 - representing a gross yield of 7.33% before costs
- Close to a range of national retailers
- Current commercial income £44,035 per annum
- Rare retail Freehold investment opportunity in prominent Hammersmith location
Description
This is an excellent opportunity to secure a commercial/retail freehold investment. The freehold benefits from a commercial tenancy on the ground floor and ground rents from two upper floor flats which have been sold off on long leases (details below). The sale at £600,000 represents a gross yield of 7.33% based upon the current commercial tenancy.
Commercial ground floor details - 756 square feet occupied by Portico Estate Agents (Portico Property Ltd – D&B Rating N2). Commercial Lease terms – 15-year lease from 11 October 2017 with no breaks (lease expires October 2032), with a current annual rent of £44,035 per annum.
Upper floor flats - Two flats sold off on long leasehold basis. Residential Lease terms and ground rents are: 99 years from August 1993 and 99 years from October 1993. Both pay ground rents of £50 each for the first 33 years, £100 for the next 33 years and £150 per year for the remainder of the 99-year lease terms.
Location
Local Authority- London Borough of Hammersmith and Fulham.
King Street links Hammersmith Broadway to the east with Chiswick High Road to the west.
Viewings
By appointment with Stirling Ackroyd
This is an excellent opportunity to secure a commercial/retail freehold investment. The freehold benefits from a commercial tenancy on the ground floor and ground rents from two upper floor flats which have been sold off on long leases (details below). The sale at £600,000 represents a gross yield of 7.33% based upon the current commercial tenancy.
Commercial ground floor details - 756 square feet occupied by Portico Estate Agents (Portico Property Ltd – D&B Rating N2). Commercial Lease terms – 15-year lease from 11 October 2017 with no breaks (lease expires October 2032), with a current annual rent of £44,035 per annum.
Upper floor flats - Two flats sold off on long leasehold basis. Residential Lease terms and ground rents are: 99 years from August 1993 and 99 years from October 1993. Both pay ground rents of £50 each for the first 33 years, £100 for the next 33 years and £150 per year for the remainder of the 99-year lease terms.
Location
Local Authority- London Borough of Hammersmith and Fulham.
King Street links Hammersmith Broadway to the east with Chiswick High Road to the west.
Viewings
By appointment with Stirling Ackroyd
Property information from this agent
About this agent
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Having served our clients for over 30 years, during this time, we have adapted our service to always stay one step ahead. Since setting up shop on Rivington Street in 1986, we have watched and assisted our local communities to grow into the thriving and fashionable hubs you see today.