Investment Opportunity Let to the NHS On a Low Base Rent
Summary
Located in one of London’s largest regeneration areas which includes Brixton Academy, Brixton Market, Electric Avenue and Pop Brixton.
Comprising a total 14,531 sq ft over ground and first floors.
Let in its entirety to the NHS (King’s College Hospital NHS Foundation Trust) on a 15 year lease from 27
October 2022, with a tenant option to break at the 10th year.
5 yearly RPI rent reviews.
Total passing rent of £279,721 per annum, reflecting low rent of £19.25 per sq ft.
NHS to invest heavily on their fit out works which is to include offices, state of the art simulation wards and training facilities.
Freehold (with a small virtual freehold element)
We are seeking offers in excess of £5.25M (Five Million Two Hundred and Fifty Thousand Pounds) subject to contract and exclusive of VAT for our client’s freehold interest in the above. A purchase at this level shows a net initial yield of 5% and a guaranteed reversionary yield between 5.50% and 6% at the 2027 review, after allowance for unadjusted purchaser’s costs of 6.8%.
