£38.000.000
Confirmation
Mixed-use estate with long dated supermarket income
London, United Kingdom
Mixed use
#22352
Core+
11 Nov 2024
Property Details
Broker
Sold
123,210 sq.ft.
11,446 m²Total
308 £/sq.ft.
3,319 £/m²5.90 %
6
Freehold
Fees
Investment Overview
Prominently located in Paddington and next to the affluent and chic neighbourhoods of Notting Hill and Bayswater. Multi-let with 72% of the commercial income let to Waitrose for a further 12.4 years. Extremely rare large Central London supermarket with 58,456 sq ft underground car park providing future asset management opportunities. The only major supermarket serving Paddington, Bayswater, Notting Hill & Maida Vale. WAULT of 10.8 years to expiry & 10.3 years to break. Sold off residential upper parts. 5 ground floor retail, restaurant and leisure units (total 17,185 sq ft) fronting Bishop’s Bridge Road and Porchester Road. A vacant former pub which has been re-clad and is in shell condition.
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