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Colliers Godfrey Vaughan
1 Tenterden Street, Hanover Square, London, W1S 1TA
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Two attractive Freeholds comprising restaurant retail over ground and lower ground with self contained offices over four upper floors.
Vacant upper parts offering a Refurbishment/Development opportunity. Currently office use, with potential for conversion to residential, subject to planning consent.
Two attractive Freeholds comprising restaurant retail over ground and lower ground with self contained offices over four upper floors.
Vacant upper parts offering a Refurbishment/Development opportunity. Currently office use, with potential for conversion to residential, subject to planning consent.
A3 retail income secured on two leases against the substantial covenants of City Centre Restaurants Ltd and Groupe Chez Gerard Restaurants Ltd, both for a further 15.5 years.
Reversionary retail rent, with reviews in February 2008.
We are instructed to seek unconditional offers in excess of £4,500,000 subject to contrat and exclusive of VAT. A purchase at this level would reflect a net initial yield of 3.47% based on the rental income, rising to 5.85% upon letting the vacant office space at an ERV of £32.50 per sq ft and allowing for normal purchaser's costs of 5.7625%.
property reference: GALE999000112
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