Menu

For Sale

Marylebone

Fuel Filling Station & Convenience Store, Marylebone Road, NW1 5AR

Availability (1)

1 Ft2

£3,345,000

SharePrint

  1. Information
  2. Map
  3. Area & Transport
  4. E.P.C
  5. Other Documents
  1. Introduction

    Long let, well-secured RPI Linked Income, Virtual Freehold in Marylebone - Fuel Filling Station & Convenience Store




    Description

    Planning Usage: (uses which do not fall within the specified use classes above)

    • Shell branded fuel filling station and Londis convenience store investment, comprehensively refurbished in 2018.
    • Attractive guaranteed inflation-linked rental uplifts.
    • Rare Central London forecourt in a prime location in Central London with an estimated 94,000 vehicles passing the site each day.
    • Prominent and visible situation on the busy junction of Marylebone Road (A501 Westway) and Gloucester Place (A41).
    • Virtual Freehold tenure (999-year interest) at a peppercorn ground rent.
    • Leased to Malthurst Limited (5A1 D&B Rating) with a surety from Malthurst (UK) Ltd until December 2032, without break. Offers well secured income for 11.75 years term certain.
    • Rent reviews are 5-yearly, linked to increases in RPI from October 2017 and subject to a minimum rental uplift at review of 5.1% and a maximum of 15.9%. Vendor will top-up the rent to reflect the increase in RPI between Oct-17 and Oct-20.
    • Current rent £150,000 per annum, which the vendor will top up to £160,350 per annum (based on RPI increase from lease start to Oct-2020.
    • We are instructed to invite offers in excess of £3,345,000 subject to contract and exclusive of VAT.
    • A sale price at this level reflects a net initial yield of 4.50% (based on purchaser’s costs of 6.5%).

    Availability (1)

    UnitFloorSize (Ft2 | M2)Price (sale | /Ft2)Planning UsageStatus
    Virtual FreeholdGround1£3,345,000Sui GenerisAvailable
    Total / Avgs.Total / Avgs.1£3,345,000
  2. Location

    Fuel Filling Station & Convenience Store,
    Marylebone Road,
    London NW1 5AR

  3. Transport

    Marylebone
    Hammersmith & City, Bakerloo, Circle
    Baker Street
    Bakerloo, Metropolitan, Circle, Jubilee, Hammersmith & City
  4. Other Documents

    Brochure

MISREPRESENTATION ACT — These particulars do not form part of any offer of contract. They are issued as a general guide, but do not constitute representation of fact. Parties should satisfy themselves as to their accuracy. Unless otherwise stated, all prices/rents are quoted exclusive of vat. All terms and information provided is subject to contract & without prejudice.