Midmoor House, Richmond upon Thames, London TW9 2NQPosted on September 14, 2018
PRIME SOUTH WEST LONDON OFFICE & RETAIL INVESTMENT
Midmoor House, 1-2 Kew Road, Richmond upon Thames, London TW9 2NQ
- Rare opportunity to acquire a prominent freehold office and retail investment in a highly sought after location directly opposite Richmond Station in South West London.
- Desirable office location referred to as ‘Silicon upon Thames’ due to an abundance of multi-national media and technology companies.
- Resilient retailing centre with nearby occupiers including various well-known national multiples.
- The building was significantly refurbished in 2014 and provides 5,897 sq ft NIA of office accommodation over 3 floors above 5,835 sq ft GIA of retail accommodation at ground and basement.
- Weighted average unexpired lease term of 8.7 years to expiries and 5.7 years when accounting for break options.
- Total passing rent of £420,231 per annum, with 60% of the income derived from the office tenants.
- The office rents reflect a low average of £42.43 per sq ft providing an opportunity for future rental growth.
We are inviting offers in excess of £7,500,000 subject to contract and exclusive of VAT. A purchase at this level would reflect a Net Initial Yield of 5.25%, after allowing for purchaser’s costs of 6.66%. This reflects a low capital value figure of £639 per sqft.
Sales ParticularsClick here to download more details on Midmoor House, Richmond upon Thames, London TW9 2NQ (pdf)