- Listing ID: 24922
High Street Retail Property For Sale 41 Millharbour, London, E14 9NA
- 3,475 sq ft
- £1,300,000
- For Sale
Property Overview
-
- Size:
- 3,475 sq ft / 323 sq m
-
- Usage:
- A1
-
- Sale Type:
- For Sale
-
- Rental Income:
- £76,784
-
- Property Type:
- High Street
-
- Auction:
- No
-
- Development Opportunity:
- No
-
- Investment Opportunity:
- Yes
-
- Tenanted:
- Yes
-
- Energy Rating:
-
C
Supporting Documents
General Summary
● Convenience store investment opportunity let to the undoubted covenant of Tesco Store Limited.
● The property is let to Tesco Stores Ltd for
a term of 15 years from 18 October 2006
expiring 18 October 2021.
● Virtual Freehold, 990 years remaining.
● Rent of £76,784 per annum exclusive,
subject to five yearly upwards only rent
reviews based on the retail price index and
compounded annually with a cap of 4%.
● Seeking offers in the region of
£1,300,000, subject to contract.
● A purchase at this level would reflect a Net initial Yield of 5.58% allowing for purchaser’s costs of 5.80%.
Location
41 Millharbour is a substantial mixed use building situated on the Isle of Dogs, a short distance from South Quay DLR.
The immediate locality is mainly residential with a number of high rise apartment blocks.
