Commercial property in London, United Kingdom, 1 935 m²

United Kingdom. Central London. Commercial building. 1935m2 A rare opportunity to acquire a site with continuous retail area in London's Knightsbridge, a hub for prime retail. The building houses 10 commercial units, ranging from retail and medical units to restaurants and cafes, spread over the ground and basement floors with frontage to Knightsbridge. All units are income-leased, producing rents of £917,150 per annum. The property is on a long lease with 974 years remaining on the lease at a fixed rate. There are opportunities to manage the asset by improving the tenant mix and rent recovery to enhance the current rent, which is considered to be below market value. The property is owned by a single Special Purpose Vehicle (SPV) which will be eligible for zero Stamp Duty Land Tax (SDLT) or can be purchased as a single property subject to mixed-use SDLT at 5%. • Prestigious Knightsbridge location, just minutes from the world famous Harrods department store, in one of the world's most famous luxury retail locations. • Virtual tenure with 972 years remaining, rents are rock bottom. • Ten retail units spread over two floors, totalling 20,287 sq ft (20,287 sq ft). • Stunning 65 metre (214 ft) wide shopping centre frontage towards Knightsbridge, providing excellent visibility and high footfall. • Diverse tenant mix including retail, health and hospitality businesses – beauty clinics, fashion boutiques, health food stores, pharmacies and cafes. • Total transition rent of £914,250 per annum. • Lease terms of 7.87 years remaining and 8.82 years remaining. We are inviting bids in excess of £17,500,000 for a specialist property company (SPV) in the Isle of Man, reflecting a net initial yield of 5.13% and an attractive capital value of £863 psf (assuming buyers costs of 1.80%). Buyer's fee is 2%. We will sell your flat or house. There are flats and houses to choose from in a range of budgets, including commercial properties