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Prime foodstore and retail warehouse park

England, United Kingdom

93%

£34.150.000

Retail

#34380

Core+

28 Oct 2024

Property Details

Broker

For sale

82,589 sq.ft.

7,673 m²

Leasable area

413.49 £/sq.ft.

4,450 £/m²

5.50 %

6

Freehold

X

Fees

0.00 %

0.40 %

0.00 %

0.40 %

Investment Overview

A prime foodstore and retail warehouse park located in Wimbledon, 6 miles south-west of Central London. The property comprises 6 units in 3 buildings totalling 82,589 sq ft on a site of approximately 5.5 acres. The park effectively has a Class E Food and Non Food consent. Long term income is well secured to leading national covenants including Lidl, Wickes, Pets at Home and Hobbycraft with a WAULT of 10.5 years. The current contracted rent is £2,013,881 pa which equates to a highly sustainable £24.38 psf offering guaranteed uplifts and medium term reversions. Originally constructed in the late 1980s as two solus units. The Wickes unit remains unchanged whilst the other unit has been subdivided to accommodate Lidl, Pets and Hobbycraft. In addition the two pod units were constructed in 2022/2023 together with further car spaces. The scheme now provides a total of 82,589 sq ft.