Other

32-34 Baker Street, 1-6 Waterloo Terrace & 1-6 Wellington House, Weybridge KT13 8AU

 

Quoting Price: £4,100,000 - Initial Yield:9.00%

Acting on behalf of Cording Capital, we are instructed to sell this attractive M25 mixed-use office, retail and residential investment.

The property comprises a 14,875 sq ft (1,381.9 sq m) retail/office parade with a detached residential building to the rear. Let to 12 tenants with an income split of 61% office, 31% retail and 8% residential, producing an income of £392,228 per annum. AWULT of 5.2 years to expiry and 3.1 years to tenant break. 13% of the income is secured against the strong multinational banking covenant of Handlesbanken, whilst 77% of the income is secured against covenants with D&B ratings of ‘minimum’ or ‘lower than average’ risk of business failure. Opportunity to add value through letting the vacant office suite and residential unit. Redevelopment potential, subject to planning.

We are instructed to seek offers in excess of £4,100,000 (Four Million, One Hundred Thousand pounds), subject to contact and exclusive of VAT.

A purchase at this level reflects a net initial yield of approximately 9.00%, assuming purchasers costs of 6.54% and a low capital value of £276 per sq ft.

Contact

John Ellison

Tel: 020 7493 3330
Mob: 07889 437 236
jellison@lewisellis.co.uk

James Elkington

Tel: 020 7493 3330
Mob: 07810722459
jelkington@lewisellis.co.uk


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