Prime Retail Parade With Future Redevelopment Potential And Located In The London Borough Of Hounslow
Summary
Located in Hounslow one of London’s largest boroughs.
Situated in a prime position on the northern side of Hounslow High Street directly opposite the principle entrance to the Treaty Shopping Centre, which has been earmarked for a substantial mixed use scheme to include circa 1,200 homes.
Corner retail block providing six retail units and substantial vacant upper parts.
Multi let producing an income of £594,000 per annum.
AWULT to expiry of 4.85 years (2.17 years to break).
Freehold
Nationwide, Vodafone and Superdrug have all recently renewed their leases.
Potential for residential led scheme on the upper parts subject to necessary planning consents. The vendor has had a positive pre app on the upper parts for conversion to 20 apartments.
Offers in excess of £9,680,000 (NINE MILLION SIX HUNDRED AND EIGHTY THOUSAND POUNDS) Subject to contract and exclusive of VAT.
A purchase at this level will reflect a netinitial yield of 7% on the retail and £150 psf on the upper parts, after allowance for purchasers costs of 6.69%
