Commercial center in Eastern Greater London

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Commercial center in Eastern Greater London

2,438,000 €
2,615 € /m²
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  • Total area
    932 m²
  • Yield
    7.4 %
  • Built in 
    2000
Details
Property parameters
  • Land area: 1,900 m²
  • Number of parking lots: 30
  • 2-floor building
Financial performance
  • Annual income: 185,950 €
Tenants
  • Fully let

It is a commercial building for sale.

Description

The total area of the two-story building is 932 m².

The plot of 1,900 m².

Building with glazed elevations was constructed as a car showroom buidlding in 2000. The entire ground floor is occupied by a showroom and workshop, the first floor accomodates offices.

There is parking for 30 cars.

Tenure: Freehold.

The property is fully leased out.

Features

  • Three electric loading doors;
  • Gas heating;
  • Air conditioning;
  • Secured yard;
  • Internal height of 5,3 meters.

Financial performance

Absolute income is 155,750 £.

The current yield of 7,4%.

Purchaser's costs of 6,3%.

Tenants

Tenant is Lookers Southern Ltd, one of the largest vehicle retailers in the UK.

The company operates more than 99 car trade centers and its annual turnover exceeds £ 3.5 billion.

The non-terminable lease agreement is valid is until 2025.

There is also a college subtenant. The lease agreement is valid until 2025.

Location

The property is situated near the road.

There are shops, cafes and bus stop in the neighborhood.

The nearest railway station is 1,5 km to the east.

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