VERNEY HOUSE, 248 FULHAM ROAD & 1B HOLLYWOOD ROAD, CHELSEA
Prime London retail and office investment.
- Located in a prominent position in one of the most affluent Boroughs in the country.
- Multi let office and retail building with two frontages arranged over 4 floors totalling approximately 1,413 sq m (15,215 sq ft) with 13 basement car spaces.
- Currently produces a rental income of £662,476 pa, assuming a guarantee on the vacant unit, which will provide the opportunity for a reversion going forward.
- The building is not listed or in a Conservation Area, providing the longer term possibility of converting the offices to residential and increasing the building size, subject to planning.
- AWULT to expiry 6.5 years (3.7 years to the breaks).
- Seeking offers in excess of £13,500,000 (Thirteen Million Five Hundred Thousand Pounds) subject to contract and exclusive of VAT.
- Net Initial Yield of 4.60% rising to 4.93% assuming a reversion of £710,616 pa and purchasers costs of 6.72%.
- Capital value of £824 per sq ft on the upper levels.