£3,500,000
(£1,235.88/sq. ft)
Retail premises for saleFreehold Retail Parade, 228-234A Shaftesbury Avenue, London WC2H
2,832 sq. ft
About this property
A rare opportunity to acquire five well located Commercial E Class units in prime Central London in close proximity to British Museum, soas University of London and the British Library.
High-profile corner position situated in a prime Central London, appealing to occupiers seeking strong footfall, visibility and proximity to London’s entertainment and business districts
Excellent public transport connectivity, within easy walking distance of Tottenham Court Road and Holborn Underground Stations.
Multi-let to 5 tenants producing a total current income of £215,700 pa with scope to improve rents at the next review’s 2029 and 2030. The upper floors have been sold off on long leases.
Comprising total NIA of 2,832 sq ft (263 sq m) Class E retail accommodation arranged over ground and lower ground floors.
Price: £3,500,000, for the Freehold interest, subject to contract reflects a net initial yield of 5.8%.
The property comprises a six-storey mixed-use building, typical of Shaftesbury Avenue’s architectural style, and benefits from a prominent street presence with excellent visibility due to high pedestrian and vehicular footfall. Arranged as five retail units across the lower ground and ground floors, providing a total of 2,823 sq ft NIA (3,610 sq ft gia) of Class E accommodation.
The upper floors, which have been sold off on long leases, comprise residential accommodation. In addition, a selfcontained Class E unit fronting Grape Street has also been sold off.
Location
Positioned just a short walk from Tottenham Court Road Station (serving the Central, Northern, and Elizabeth Lines) and Holborn Station (Central and Piccadilly Lines), the property offers outstanding transport links. The area has undergone
extensive infrastructure upgrades, most notably with the opening of the Elizabeth Line and the redevelopment of Tottenham Court Road station, further enhancing accessibility and footfall.
This vibrant and diverse area is home to a wide array of retail, dining, and lifestyle amenities, including Costa Coffee, Pret A Manger, James Smith & Sons Umbrella Shop, and McCann Bespoke Tailoring. Nearby Museum Street provides a charming mix of independent cafés, restaurants, and boutique retailers.
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