Retail Warehouse Investment (DIY)

The purchase of this greater London asset provides the opportunity to acquire a retail warehouse asset let to Homebase that has redevelopment opportunities. The subject property was built in 1997 and comprises a purpose built, stand alone retail warehouse unit with a surface tarmacadam car park to the front and side. The unit provides 46,046 sq ft of ground floor retail warehouse accommodation. There is a mezzanine that runs around the walls of half of the unit also. There is a garden centre at the western end of the property. Customer car parking is provided to the front and side of the unit. There are 196 car parking spaces, providing a ratio of 1:235 sq ft. Potential for for subdivision into two units and reletting to a DIY and food operator or redevelopment to residential use, subject to obtaining the necessary consents. The lease expires in December 2030, providing 6.5 years unexpired, there is a Landlord only break option in December 2025. The current contracted total rent passing is £1,004,388 per annum which equates to a sustainable £21.81 per sq ft.