6-42 Buckingham Palace Road, SW1_Property for Sale

6-42 Buckingham Palace Road, London, SW1W 9TQ, UK

6-42 Buckingham Palace Road, SW1

Asset Description

The Buckingham Palace Road portfolio comprises 42,318 sq ft of retail, restaurant, office and residential accommodation.

The portfolio provides secure, long-term retail and restaurant income on ground and lower ground floors, with a WAULT exceeding 9 years, with potential to capture rental reversion through rent reviews. The remainder of the block offers immediate and long-term asset management opportunities to increase rental income.

The portfolio consists of 8 separate leasehold titles, physically divided by Victoria Square. The northern block (6- 24) provides a truly mixed-use portfolio with numerous value add opportunities. The southern block (26-42), the upper parts have been sold on long leases, while the retail units are fully let on 5 occupational leases and 3 units are sold off to one long leaseholder at 10% gearing.

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Attributes

Building area net

3,931 m²

Occupancy

87%

Year built

1930

Land area gross

0.18 ha

Number of units

WAULT

8.4 years

Media

Investment Highlights

Rare opportunity to acquire an 0.44 acre / 42,318 sq. ft portfolio of retail, restaurant, office and residential in the heart of London’s West End.
Excellent connectivity, with Buckingham Palace Road linking Victoria’s rail and bus stations to key tourist destinations including Buckingham Palace, The Mall, and St James’s Park.
122 metres of prime frontage onto Buckingham Palace Road - a major thoroughfare marking the boundary between the dynamic office hub of Victoria and the prestigious residential area of Belgravia.
Benefits from over 12.6 million annual footfall, comprising affluent residents, office workers, and tourists.
Immediate scope to increase the passing annual rent of £1,065,174 through asset management and leasing opportunities.
Secure retail income of £753,390 per annum, with a WAULT of 9.07 years from tenants including Gail's Bakery, Hummingbird Bakery and Pizza Pilgrims.
Potential to capture retail reversion at rent review due to recent evidence within the portfolio occurring at significantly higher than passing ITZA rents.
9,798 sq. ft of office accommodation with c.50% offered with vacant possession and the remainder let of affordable rents of under £51 per sq. ft, offering significant asset management potential.