Investment Consideration:
Gross Initial Yield: 7.04%
Rental Income: £38,000 p.a.
Low capital value of approx. £239 per sq ft
VAT is applicable to this property. Transaction will be treated as TOGC.
Comprises double fronted retail premises t/a Right Choice Mobility
Let until March 2036 on a lease renewal. Tenant in occupation since 2016
Future redevelopment potential to split into 2 self-contained retail units, STPP.
Forming part of the wider Tesco-led development, incorporating a large Tesco supermarket together with residential and commercial accommodation, generating strong levels of local footfall
Occupiers nearby include Tesco Superstore, Costa Coffee, Restaurant`s, Post Office and many more.
Property Description:
Comprises ground floor retail shop t/a Right Choice Mobility and providing the following accommodation and dimensions:
Ground Floor: 192 sq m (2,072 sq ft)
Open plan retail, storage, wc
Tenure:
Virtual freehold. Held on a 999 year lease from 2026 at a ground rent of peppercorn.
Tenancy:
The property is at present let to Right Choice Mobility Limited for a term of 10 years from 29th March 2026 at a current rent of £38,000 per annum and the lease contains full repairing and insuring covenants. Open market upward only rent reviews on 29.03.2031,29.03.2033 and 29.03.2035 and tenant option to determine on 29.03.2031. The lease falls outside the Security of Tenure Provisions of Part II of the Landlord and Tenant Act 1954. Deposit held of £11,511 + VAT. Lease renewal, tenant in occupation since 2016.
Location:
The property is situated in Highams Park, an established residential and commercial district in north-east London within the London Borough of Waltham Forest. The area benefits from excellent road connectivity, with the A406 North Circular Road and M11 motorway both within close proximity, providing convenient access across Greater London and to the wider motorway network. The property occupies a prominent position on Larkshall Road, directly opposite Highams Park railway station, which provides regular services into London Liverpool Street. The premises form part of the wider Tesco-led development, incorporating a large Tesco supermarket together with residential and commercial accommodation, generating strong levels of local footfall. Highams Park town centre offers a good range of local shops, cafés, restaurants and other amenities, while the surrounding area is predominantly residential, providing the property with a substantial local catchment.
