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Mixed-use estate with long dated supermarket income

London, United Kingdom

84%

£38.000.000

Mixed use

#22352

Core+

11 Nov 2024

Property Details

Broker

Sold

123,210 sq.ft.

11,446 m²

Total

308 £/sq.ft.

3,319 £/m²

5.90 %

6

Freehold

X

Fees

0.00 %

0.40 %

0.00 %

0.40 %

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.