Kensington High St block on sale

By Paul Norman - Monday, October 16, 2017 12:31

Main news image
A Cambridge college has brought to market a mixed-use commercial freehold property investment on Kensington High Street, seeking £27.64m, which reflects a net initial yield of 4.25%.

160-166 Kensington High Street comprises 21,402 sq ft of  retail and offices, with residential above.

The total annual income is £1.254m, 74% of which is secured from 5A1 covenants, Metro Bank and Argos. The income reflects £207-213 zone A for the retail and only £44 per sq ft for the offices. Adjoining retail units are achieving headline £237 zone A, and grade A offices have achieved £63 per sq ft, which suggests strong rental growth potential.

Darryl Stevenson of Bidwells, which is advising the college, said: “This is a rare opportunity to acquire a mixed-use freehold property in one of the UK’s most exclusive and popular retail locations. It offers an attractive tenant mix, secure income, with future asset management opportunities.”

pnorman@costar.co.uk

Get in Touch
+44 203 205 4600