Prime Reversionary Retail Investment, 60 & 61-62 George Street, Richmond upon Thames, TW9 1HF

- Let on two leases to Boots Properties Ltd until 2068 and Boots UK Ltd until 2043 (subject to tenant only options to break) at a combined rent of £250,500 per annum.
- A unique opportunity to acquire a retail investment with up to 54 years unexpired to Boots Properties Ltd.
- Based upon recent letting activity, we believe the current passing rent is reversionary and provides significant scope for future rental growth.
- Offers in excess of £5,700,000 (Five Million Seven Hundred Thousand Pounds).
- A purchase at this level would reflect a net initial yield of 4.15% and a reversionary yield of 4.51%, after allowing for purchaser’s costs of 5.80%.
- The subject property is located in Richmond upon Thames, one of the most wealthy south west London suburbs.
- The town is ranked 1st of the 200 retail PROMIS centres for forecasted growth in comparison retail expenditure over the next 4 years.
- 80% of the catchment population falls within the most affluent socio economic groupings of class A/B and C1.
- The units are situated in a prime location on the north west side of George Street opposite H&M and within close proximity to House of Fraser, Marks and Spencer and Top Shop.
- Freehold.
- In the autumn of 2013, the tenant carried out a significant £2m refurbishment programme to create a single well configured south west London flagship store for Boots.