Bird In Hand 62 Gravel Rd
3,481 SF Retail Building Bromley BR2 8PF £1,100,000 (£316.00/SF) 7.11% Net Initial Yield
INVESTMENT HIGHLIGHTS
- Property arranged over three levels: basement, ground and first floors
- The Bird in Hand is situated at the intersection between Gravel Road and Cross Road within a predominantly residential area
- Located in South London within the London Borough of Bromley
EXECUTIVE SUMMARY
The entire property is let to private individual on a 20 year lease from 26 October 2023 at a current rent of £82,800 per annum which is subject to five yearly open market reviews and annual RPI increases with a collar of 2% and cap of 5% (except in the open market review year). A rent deposit of £20,339 is held by the landlord.
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Tenure
Freehold
Building Size
3,481 SF
Year Built
1970
Price
£1,100,000
Price Per SF
£316.00
Net Initial Yield
7.11%
NOI
£78,210
Tenancy
Single
Number of Floors
3
Building FAR
0.48
Lot Size
0.17 AC
Parking
8 Spaces (2.3 Spaces per 1,000 SF Leased)
Frontage
40 ft on Gravel Road
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NEARBY MAJOR RETAILERS
