93/101 Clarence Street

Description

• The Royal Borough of Kingston upon Thames is a leading affluent commuter town and leading retail centre 12 miles south west of Central London.
• Kingston benefits from its strong transport infrastructure, providing frequent and direct travel to Central London and surrounding boroughs.
• New 10 year lease agreed with Uniqlo in September 2023.
• Uniqlo lease is subject to annual CPI linked uplifts with a collar and cap at 1%-3%.
• New 15 year lease to Oseyo from 2022 (TBO in year 10) at a rent of £120,000 per annum.
• Oseyo rent is reversionary in 2027 to our ERV of £150,000 pa.
• The property benefits from future development opportunities to add residential accommodation above the existing retail (STPP).
• Capital value extremely well underpinned by alternative use value.
• Current Rent: £398,955 per annum.
• ERV in 2027 £443,077 per annum.
• Freehold.