12-20 Wood Street, London, E17 3HT

Description
A rare opportunity to acquire a secure retail investment in a busy London location. The property comprises a substantial ground floor retail unit let to Tesco, generating a current rental income of £59,547 per annum. The lease includes upward-only RPI-linked rent reviews, the last of which was in July 2023 with the next scheduled for July 2028. Offered at a reduced price of £950,000, the investment reflects a gross initial yield of 6.27% and a net initial yield of 5.75% (assuming standard purchaser’s costs). The property benefits from prominent frontage, excellent footfall, and long-term income from a strong national covenant.

Location
12-20 Wood Street is prominently situated in the heart of Walthamstow, within the vibrant Wood Street neighbourhood. The area benefits from excellent transport links with Wood Street Overground Station just a short walk away, providing direct services to London Liverpool Street. The surrounding area is a popular and well-established retail and residential location with a strong local customer base and increasing levels of regeneration and investment activity.

Legal Costs
Each party to bear their own costs in the transaction

Tenure
Now available with a new 125 year long lease
The letting to Tesco was agreed in September 2013 for a period 20 years, expiring in September 2033.