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Robert Irving Burns

17 New Row, Covent Garden, London

£1,600,000

Details

  • Ref: 224564
  • Type: Retail
  • Availability: Available

Description

The subject premises comprise a Class E Retail premises arranged over Ground & Lower Ground Floors. Waterstones also occupy the premises to the rear of 17 New Row (9-13 Garrick St) which is owned by a different owner under a separate lease and does not form part of this sale.

Location
The Central London iconic district of Covent Garden is bounded by Leicester Square, Trafalgar Square and Soho, and to the north and east by Holborn and the Mid-Town district.
Covent Garden benefits from c44 million visitors per year who come to experience the world class shops, restaurant and leisure facilities on offer. It is London’s main theatre and entertainment area, offering world class attractions such as the Royal Opera House, Covent Garden Piazza and the Theatre Royal. It is home to 13 theatres and over 60 pubs and bars, providing vibrancy & trading activity from morning to evening.
New Row is a busy pedestrianised retail street linking Bedford Street and St Martin’s Lane. The subject property is situated on the north side of New Row directly opposite Bedfordbury. New Row is one of the main thoroughfares leading into the centre of Covent Garden.
Covent Garden and Leicester Square underground stations are located within a few minutes walking distance. Charing Cross and Waterloo mainline stations are also located close by.

Available Area

Name/FloorSq FtSq MAvailability
g Sales1,556144.56Available
ancillary 15914.77Available
lg 1,04997.46Available
Total2,764256.78 

Features

  • Prime Central London retail investment arranged over ground and lower ground floors (2,764 sqft / 256.78 sqm NIA).
  • New 250 year long-leasehold at a peppercorn rent.
  • Low newly rebased rent of £86,000 pa (previous rent £120,000 pa).
  • Let to Waterstones Bookselleres Limited until 27/05/2029.
  • We are instructed to seek offers in excess of £1,600,000 (One Million Six Hundred Thousand Pounds), subject to contract. A purchase at this level would reflect a Net Initial Yield of 5.06% (assuming standard purchasers costs).

Materials

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