INVESTMENT OPPORTUNITY IN DOCKLANDS

The current passing rent is £49,000 per annum and the rent is to be reviewed to open market value of the property, upwards only, in the 5th year.

The current leaseholder of the property is an estate agent who belongs to one of the largest chains in the country. The estate group has recently been acquired by Connells Group, a leading UK property services group, which has 600 branches and has resulted in the combined entity being the largest estate agency company in the UK with over 15,000 employees. The ultimate owner of the Connells Group is Skipton Building Society.

TENURE: The property is held on a long leasehold interest expiring 31st December 2134, at a fixed rent of £3,025 pa, exclusive of service charge and maintenance charge.

New 10-year full repairing and insuring lease from 25 June 2019 with a
tenant-only break option in year 5, subject to 6 months’ notice.

SIZE: Ground floor retail unit 836 sqft Approx.

Freeholder is asking for offers over £730k which gives approx. 6.75% gross yield.

For further information, please contact the BTC Commercial and Investment team on 0208 889 7474 or commercial@btcint.com.

Tenure: Freehold