Viaduct Gdns
London SW8 5BL
Embassy Gardens - Legacy 2 · Retail Property For Sale
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6,846 SF
INVESTMENT HIGHLIGHTS
- Completed in 2022, Embassy Gardens is a prestigious Zone 1 residential-led development situated in the heart of Nine Elms
- The scheme delivered 1,555 new homes and more than 130,000 sq ft of retail accommodation, anchored by Waitrose
- Adjacent to the new US Embassy, which lends the development its name. Designed by HAL Architects and Sir Terry Farrell CBE
EXECUTIVE SUMMARY
Completed in 2022, Embassy Gardens is a prestigious Zone 1 residential-led development situated in the heart of Nine Elms, adjacent to the new US Embassy, which lends the development its name. Designed by HAL Architects and Sir Terry Farrell CBE, the scheme delivered 1,555 new homes and more than 130,000 sq ft of retail accommodation, anchored by Waitrose, alongside landscaped public squares, spectacular gardens and a 4.5-hectare linear park. The scheme itself offers best in class amenities for residents, which includes a library, gym, spa, yoga studio, cinema and business facilities and the globally renowned Sky Pool which received over 1 billion impressions when the first CGI was unveiled
PROPERTY FACTS Sale Pending
| Unit Size | 743 - 1,732 SF |
| No. Units | 2 |
| Total Building Size | 6,846 SF |
| Property Type | Retail |
| Property Subtype | Storefront Retail/Residential |
| Building Class | B |
| Number of Floors | 8 |
| Typical Floor Size | 856 SF |
| Year Built | 2019 |
| Lot Size | 5.57 AC |
2 UNITS AVAILABLE
Unit 2AA05
| Unit Size | 1,732 SF |
| Unit Use | Retail |
| Sale Type | Investment |
| Tenure | Long Leasehold |
| Net Initial Yield | 7.00% |
| NOI | £62,300 |
DESCRIPTION
The property comprises a brand-new double height commercial unit situated below a modern residential scheme (sold off). The unit features a fully fitted out restaurant unit which has been finished to a high specification, totalling 1,731 sq ft (GIA).
SALE NOTES
The property is let to Lim Junye Ltd (t/a Evernight) on a 10 year lease expiring 12th May 2032. The lease is contracted outside the Security of Tenure provisions of the Landlord & Tenant Act 1954.
The contracted rent is £62,352 and increases to £65,816 per annum at year 4 (13th May 2026). The vendor will top-up the rent to the year 4 rent.
There is an upwards only, open market rent review on 13th May 2027.
The lease is subject to a tenant only break option on the 13th May 2027, actionable on 6 months’ notice.
We are instructed to seek offers in excess of £890,000, reflecting an attractive Net Initial Yield of 7.00% after a deduction of standard purchasers’ costs (5.62%).
Unit 2BA05
| Unit Size | 743 SF |
| Unit Use | Retail |
| Sale Type | Investment |
| Tenure | Long Leasehold |
| Net Initial Yield | 7.00% |
| NOI | £25,550 |
DESCRIPTION
Unit 2BA05 comprises a brand-new commercial unit situated below a modern residential scheme (sold off). The unit features two fully fitted barber stations and a lounge area, with a storage/staff room area in the rear. The unit totals 743 sq ft (GIA)and is finished to a high specification.
SALE NOTES
The property is let to Neon Black Ltd on a 10 year lease expiring 22nd June 2031, at a rent of £26,355 per annum. There is an open market rent review on the 23rd June 2026.
The lease is contracted outside the Security of Tenure provisions of the Landlord & Tenant Act 1954.
