Prime Retail / Residential Investment Block
The subject block occupies a prime trading location on the west side of the pedestrianised North End in between the two entrances to Centrale and opposite the Whitgift Shopping Centre frontage.
The property comprises an unbroken parade of six retail units, and 3 residential units, extending to 30,917 sq ft.
Freehold held in 8 separate titles.
The property is let to 10 tenants, producing a current rent passing of £1,003,160 pa.
The WAULT to expiry is 5.7 years with 3.7 years to break.
The commercial income is let to undoubted covenants, including Tesco, EE, Vision Express, Pandora and Card Factory.
Admiral and Pandora have renewed their leases at rebased rents in 2021 and Tesco was a 2022 open market letting, having re-sited from their existing store in George Street.