3 Plaza Parade, Ealing Road, Wembley, Middlesex, HA0

Investment Consideration:
Gross Initial Yield: 8.09%
Rental Income: £72,830 p.a.
VAT is applicable to this property
Comprises retail parade of 3 ground floor shops
Prominent location with 100% occupancy rate
Situated in the heart of Wembley within 2 min walk from Wembley Central Starion, providing frequent London Underground (Bakerloo Line), London Overground and National Rail services. Occupiers nearby include Lloyds Bank, HSBC, Coral, Restaurant`s, Takeaway, Barber`s and more.

Property Description:
Comprises retail parade of 3 ground floor shops, t/a Jeweller`s and Florist, providing the following accommodation and dimensions.
3 Plaza Parade: 99 sq m (1,066 sq ft)
Unit 3A-B (Jewellery Shop): 69 sq m (743 sq ft)
Unit 3C (Florist): 30 sq m (323 sq ft)

Tenancy:
Units 3A-B are at present let to an Individual for a term of 10 Years from 1st April 2023 at a current rent of £45,400 per annum and the lease contains full repairing and insuring covenants. Rent review on 31st March 2026.
Unit 3C is at present let to an Individual for a term of 9 Years from 1st January 2015 at a current rent of £27,430 per annum and the lease contains full repairing and insuring covenants. Tenant pays additional £550 + VAT pcm for electricity bill.

Tenure:
Long leasehold. Held for a term of 999 years from 14th January 1997 at a ground rent of peppercorn.

Location:
Wembley is a densely populated London suburb located approximately 8 miles to the north-west of Central London. The North Circular (A406) is easily accessible and links to the M1 (J1) whilst the A40 provides access to the M40 and M25 (J16). Wembley Central Station is 2 min walk from the property and provides frequent London Underground (Bakerloo Line), London Overground and National Rail services. Occupiers nearby include Lloyds Bank, HSBC, Coral, Restaurant`s, Takeaway, Barber`s and many more.