October 17, 2017
BIDWELLS LAUNCHES PRIME KENSINGTON HIGH STREET INVESTMENT SALE
A mixed-use commercial freehold property investment on Kensington High Street, one of London’s most popular shopping locations, has been brought to the market to the market by Bidwells, on behalf of a Cambridge college.
160-166 Kensington High Street is an attractive period building comprising 21,402 sq ft of quality retail and office accommodation, with residential above.
The total annual income is £1.254 million, 74% of which is secured from 5A1 covenants, Metro Bank Plc and Argos Ltd. The income reflects £207-213 Zone A for the retail and only £44 per sq ft for the offices. Adjoining retail units are achieving headline £237 Zone A, and grade A offices have achieved £63 per sq ft, which suggests strong rental growth potential.
Offers are being sought in excess of £27.64 million, which reflects a net initial yield of 4.25%.
Darryl Stevenson of Bidwells commented: “This is a rare opportunity to acquire a mixed-use freehold property in one of the UK’s most exclusive and popular retail locations. It offers an attractive tenant mix, secure income, with future asset management opportunities.”