PROPERTIES

The Hummingbird Bakery, 3 The Quadrant, Richmond-upon-Thames TW9 1BP

Price£3,080,000

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The Hummingbird Bakery, 3 The Quadrant, Richmond-upon-Thames TW9 1BP

  • Price£3,080,000
  • Income£100,000 pa
  • Yield4.50%
  • SectorHigh Street Retail
  • StatusAvailable
PDF DETAILS

Prime Retail Investment and Residential Development Opportunity

Summary

  • Located in affluent London suburb of Richmond-upon-Thames, just south of the station.
  • Retail let to the Hummingbird Bakery with in excess of 10 years unexpired term without a break.
  • Freehold.
  • Current income of £100,000 pa with the benefit of vacant upper parts.
  • Existing planning permission to convert the upper parts into 3 residential flats.
  • Offers in excess of £3.08M subject to contract and exclusive of VAT.
  • A purchase at this level will reflect a net initial yield of 4.5% on the commercial element after allowance of unadjusted purchaser's costs of 6.8% and £500 per sq ft for the vacant upper parts.