International real estate advisor Savills, on behalf of Project Grande (Guernsey) Ltd, is set to launch the final retail unit at One Hyde Park residential development let to the first UK premises of Abu Dhabi Islamic Bank.
Offers are invited for the virtual freehold in the luxury retail store for in excess of £21 million, reflecting a net initial yield of 3.60% rising to a predicted 4.35% and 4.99% with indexed reviews. The property is let for a further 14 years at a rent of £800,000 per annum.
Paul Cockburn, Director of Savills Central London team, says: “We are expecting strong interest in this asset given the excellent covenant, long occupational lease and reviews geared to indexation. These are the exact characteristics investors are looking for now in uncertain economic times.”
– More information here.
– One Hyde Park in Buildington.
All about new property developments in London
Please note that all property prices are subject to change. You should always contact the sales representative for up to date information.
Please note that while every effort has been made to ensure the accuracy of the information presented on this page is up to date and correct, Buildington accepts no responsibility for any errors contained in the information, or if the information is not current.