London Retail Investment

• Located in the heart of one of London’s most affluent residential locations
• Next to Regents Park, Primrose Hill and Hampstead Heath
• Exceptional transport links – 10 minutes to Central London
• Over 7.5 years unexpired with no breaks
• Freehold
• No VAT payable on the purchase price
• Passing rent of £23,500 per annum
• £300,000 subject to contract
• 7.6% Net Initial Yield

This historic market town is a vibrant location for sightseeing, shopping and museums. The town benefits from being a tourist location, enjoying a rich history dating back to the Iron Age.

The area boasts excellent connectivity, making it one of London’s most accessible and desirable districts. The area’s transport links are designed to offer residents and businesses seamless access to central London and beyond, ensuring ease of travel for work, leisure, and daily commutes.

The property occupies a prime retailing pitch in the heart of Dorchester town centre on the pedestrianised South Street. Surrounding occupiers include Waterstones, Card Factory, Poundland, FatFace, New Look, Superdrug, Mountain Warehouse and WHSmith.

The entrance to Tudor Arcade is less than 500 feet to the north, on South Street. Anchored by a Waitrose store and 164-space car park, Tudor Arcade is an enclosed shopping mall extending to approximately 48,000 sq ft and features a mixture of well-known High Street brands along with local, independent retailers and F&B operators.

Dorchester South train station is less than 0.8 km (0.5 miles) to the south.

The property comprises a retail unit arranged over ground and part first floor, along with vacant accommodation on the remainder of the first floor.

The ground floor retail unit is predominantly open-plan and has been fitted out to a high standard by the tenant in their usual corporate style. The part first floor provides ancillary accommodation.

The remainder of the first floor previously formed part of the former retail tenant’s demise. The Landlord has since undertaken separation works to make these upper parts self-contained and they now benefit from their own dedicated access from the ground floor at the front of the property via South Street (see Planning Consent section below).

There is a rear yard area accessed via Trinity Street.

We are instructed to seek a figure of £685,000, (Six Hundred and Eighty Five Thousand Pounds) subject to contract, reflecting a net initial yield of 10.0% assuming purchaser’s costs of 5.27%.

Please note that a purchaser will be re-charged the costs of the measured survey (£545 +VAT) and searches (£1,189.72) which are provided in the data room.

Please note that a purchaser will be charged a Transaction Fee of 1.0% of the Purchase Price plus VAT.

1. The property is located in an affluent location within the London commuter belt;

2. The property occupies a prime retailing pitch within the Garden Square Shopping Centre;

3. Securely let to Boots UK Limited (Net Assets Funds £1,543,000,000);

4. Let on two new co-terminus leases from August 2023;

5. The tenant has been in occupation since 1978 (46 years) and signed a reversionary lease, demonstrating their commitment to the property;

6. Attractive lot size for an investor;
   
   
7. Attractive net initial yield