492-500 High Rd 29,069 SF Retail Unit Offered at £7,000,000 in Wembley HA9 7BH

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INVESTMENT HIGHLIGHTS

Unmissable opportunity to purchase the long leasehold of a fully leased retail and leisure block in London’s popular retail location of Wembley.
Benefit from excellent main road frontage along a thriving high street, a short distance from the iconic Wembley Park Stadium.

Property is ideally located opposite Wembley Central shopping centre and Wembley Central London underground and overground stations.
Capitalise on a strong income profile with recent lettings to JD Sports, a reversionary lease to Tesco, and PureGym occupying the lower level.

EXECUTIVE SUMMARY

Discover a rare opportunity to acquire a prominent retail and leisure block located in one of London’s most sought-after areas, Wembley. This former M&S unit boasts exceptional main road frontage, located directly opposite the bustling Wembley Central shopping centre and just moments from the London Underground/Overground station and the iconic Wembley Stadium. The property offers well-configured space totalling approximately 29,000 square feet, with rear servicing, providing optimal layout and flexibility for a range of retail or leisure tenants. With a strong, recognisable income profile, the asset is fully leased to a mix of high-profile national multiples, including a recent letting to JD Sports and a reversionary lease to Tesco, solidifying the long-term viability and demand for this location. Offering a net initial yield of 7.05%, this is an excellent investment with promising returns.

PROPERTY FACTS

Price	£7,000,000
Unit Size	29,069 SF
No. Units	1
Total Building Size	38,534 SF
Property Type	Retail (Unit)
Property Subtype	Storefront
Sale Type	Investment
Building Class	C
Number of Floors	4
Typical Floor Size	20,000 SF
Year Built	1935
Lot Size	0.81 AC

EPC - B

EPC - C

1 UNIT AVAILABLE

Unit 492-498

Unit Size	29,069 SF
Price	£7,000,000
Price Per SF	£240.81
Unit Use	Retail
Sale Type	Investment
Tenure	Long Leasehold
Net Initial Yield	7.05%
NOI	£493,500

DESCRIPTION

The property forms part of a larger mixed-use development, specifically comprising the retail and leisure component. Originally a former M&S store, the building features a framed construction with brick and concrete elevations under a flat roof. On the ground floor, there are two well-configured retail units (Units A & B) fronting High Road. Unit A has recently been fitted out by JD Sports, while Unit B, occupied by Tesco, has undergone a recent refurbishment. The lower ground floor gym (Unit C) benefits from dual access, both from High Road and the rear via Elm Road. All units are serviced from the rear via Dukes Way, while the upper floors have been converted into residential units and sold off on a long lease.

SALE NOTES

Seeking offers in the region of £7,000,000 (Seven Million Pounds), subject to contract and exclusive of VAT. This reflects a net initial yield
of 7.05%, after allowing for purchaser’s costs of 6.39%. Any rent-free periods will be topped up by the vendor on completion.

The property is held long leasehold for a term of 125 years from 30th April 2010 to 29th April 2135 (110 years unexpired). The ground rent is based on 5% of rents received, with the current rent being £22,501.15 per annum rising to £27,626.15 per annum in February 2026 when JD Sports reverts to full rent.