Springer Nicolas
145-157 High Street, Eltham, London SE9 1TW
Freehold Investment Opportunity- Eltham is a busy south London suburb, lying within the London Borough of Greenwich.
- Prime position on Eltham High Street where nearby retailers include Lidl, Marks & Spencer, TK Maxx, Superdrug, Poundland and Iceland.
- Retail property arranged over ground and three upper floors providing a total area of 36,770 sq ft.
- Multi let to Tapi Carpets & Floors Ltd, Peacocks Stores Properties Ltd, Sportsdirect.com Retail Ltd and International Gospel Community with a WAULT of 6.1 years to lease expiry and 4.4 years to tenant break option.
- 49% of the income secured to Sportsdirect.com Retail Limited on a lease expiring on 19th December 2029.
- Current rent of £425,000 per annum.
- Opportunity to redevelop the property in the future or increase the massing on the roof and explore possible change of use to residential, hotel or student, subject to planning.
- Freehold.
- The vendor is seeking offers in the region of £5,300,000 (Five Million Three Hundred Thousand Pounds) subject to contract. A purchase at this level would reflect a net initial yield of 7.50% after allowing for purchasers costs of 6.8% and a low capital value of £144 per sq ft.
