Offers over
£6,000,000
(£457.46/sq. ft)
Retail premises for sale9-23 Leopold Road, Wimbledon, London SW19
13,116 sq. ft
Freehold
About this property
Key Points
An unbroken parade of 7 retail units with residential upper parts intact, serving the affluent Wimbledon residential catchment. Local shopping parade which has benefited from increased Covid resilience trading, busy essential goods and services location. In close proximity to Wimbledon station, Wimbledon Park Underground & (District line, Thameslink, Tramlink, and National Rail services). Total commercial net internal area of 5,870 sq ft (545.40 sq m). Total residential net internal area of 7,254 sq ft (673.92 sq m). Total Gross Internal Area 13,124 sq ft. Nearby occupiers include Waitrose, Safestore, Leon, Pret, and Odeon. 69% let with a WAULT to expiry of 6.66 and a WAULT to expiry on the commercial income of 6.66 and on the total income of 4.72. Total rent roll: £262,000 P.A.X (subject to landlord top-up). Upcoming rent reviews of 33% of the commercial income within next 3 years. Freehold. Active asset management potential.
Description
The property comprises a handsome terrace of 7 shops let to 6 tenants with apartments above over a 0.217-acre site. The parade was constructed in the late 19th Century. The shops provide a good mix of accommodation sizes and configurations, all of which are serviced from the front, off busy streets with excellent frontage.
Offers invited in excess of £6,436,000 (Six Million, Four Hundred and Thirty-Six Thousand Pounds), representing an Initial Net Yield of 6% of commercial income (£2,265,000) and £575 per sq ft on the residential uppers (£4,171,050), which reflects a significant discount to the wider Wimbledon residential market at £750 per sq ft. A sale at this price reflects a capital value of just £490 per sq ft of the total gia.
Location
The property is located on Leopold Road which forms a local retail parade in the Wimbledon Park area, lying half a mile to the north of Wimbledon town centre in south west London in the London Borough of Merton. The parade primarily serves the Wimbledon Park area with all shops occupied by independent retailers catering for the everyday needs of the resident population. The wider area is an affluent residential neighbourhood with a good range of boutique retailers, upmarket chain stores, a large Waitrose (c.200 metres), and healthy amount of green outdoor spaces and parks.
Description
The property comprises a handsome terrace of 7 shops let to 6 tenants with apartments above over a 0.217-acre site. The parade was constructed in the late 19th Century. The shops provide a good mix of accommodation sizes and configurations, all of which are serviced from the front, off busy streets with excellent frontage.
Offers invited in excess of £6,436,000 (Six Million, Four Hundred and Thirty-Six Thousand Pounds), representing an Initial Net Yield of 6% of commercial income (£2,265,000) and £575 per sq ft on the residential uppers (£4,171,050), which reflects a significant discount to the wider Wimbledon residential market at £750 per sq ft. A sale at this price reflects a capital value of just £490 per sq ft of the total gia.
Location
The property is located on Leopold Road which forms a local retail parade in the Wimbledon Park area, lying half a mile to the north of Wimbledon town centre in south west London in the London Borough of Merton. The parade primarily serves the Wimbledon Park area with all shops occupied by independent retailers catering for the everyday needs of the resident population. The wider area is an affluent residential neighbourhood with a good range of boutique retailers, upmarket chain stores, a large Waitrose (c.200 metres), and healthy amount of green outdoor spaces and parks.
.png){kind=logo}