Warden's Reach, 39-40 Woodgrange Road, Forest Gate, Newham, E7 8BA
15,392 Sq Ft / Other / Investment
For Sale
- £5,900,000.00
Available - Last updated: 12 April 2024
Summary
A prominent long let foodstore led investment in Forest Gate, an affluent and emerging East London commuter suburb with great transport
connections to Central London. The retail investment forms part of Warden’s Reach, a highly sustainable mixed-use development under construction providing 74 residential apartments. Clarion Housing Group has developed this scheme with 3 commercial units at ground level, forming a brand new, well-configured foodstore led retail scheme comprising 15,392 sq ft (1,430 sq m).
Key Points
Let to Lidl Great Britain Limited, Scoffs (Essex) Limited guaranteed by Scoffs Group Limited t/a Costa Coffee & Local Independent Beautician.Practical Completion due December 2023Combined Rent roll of £330,000 per annumVirtual freehold (999 year long leasehold interest at peppercorn)At Practical Completion the scheme will have a Weighted Average Unexpired Lease Term (WAULT) to Lease Expiry of 22.5 years and 17.4 years to Tenant BreaksOffers invited in excess of £5,900,000, representing a Net Initial Yield of 5.25%, assuming standard purchases costs of 6.622%Location
Set in the thriving London Borough of Newham, Forest Gate is a vibrant district of East London. 1.5 miles east of Stratford and its wide range of amenities including Westfield Shopping Centre and the Queen Elizabeth Park, and 5.5 miles northeast of the City of London. Forest Gate continues to develop as one of Newham’s most popular residential areas due to the range and quality of housing stock and the close proximity to numerous leisure
facilities and Epping Forest to the north.
Property Quote Price(s)
| Description | Sale type | Guide price | Price type |
| |
For Sale Freehold
|
£5,900,000.00
| NA |
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