Retail

142 – 162 Kilburn High Road, London NW6 4JD

 

Quoting Price: £21,070,000 - Initial Yield:5.75%

Acting on behalf of Nuveen Real Estate we are instructed to market this prime foodstore anchored retail investment in London.

The property comprises a retail led mixed use building located fifteen minutes from London’s West End. Four retail units provide 48,095 sq ft of accommodation, 1,963 sq ft of offices within the upper parts and 52 residential apartments, which have been sold off on ground leases.

The property is fully let to five tenants with over 90% of the income secured against the excellent covenants of Aldi, TK Maxx, Sports Direct and Vodafone, rated by Dun and Bradstreet as 5A2 ‘lower than average risk’. Attractive WAULT of 6.21 years to expiry (4.5 years to breaks) and a total passing rent of £1,293,175 p.a. rising to approximately £1,412,000 p.a. in October 2022.

We are seeking offers in excess of £21,070,000 (Twenty One Million and Seventy Thousand Pounds), subject to contract and exclusive of VAT, after purchase costs of 6.75%. A purchase at this level reflects an attractive net initial yield of 5.75%, rising to 6.28% in October 2022. 

Contact

David Kos

Tel: 020 7493 3330
Mob: 07709 813267
dkos@lewisellis.co.uk

Julian Gallagher

Tel: 020 7493 3330
Mob: 07941 413 299
jgallagher@lewisellis.co.uk


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