EAST HAM 2-10 MYRTLE ROAD & 2-6 ST JOHNS ROAD, E6 1HU
PRIME FREEHOLD LONDON FOOD STORE INVESTMENT WITH RESIDENTIAL DEVELOPMENT POTENTIAL EAST HAM 2-10 MYRTLE ROAD & 2-6 ST JOHNS ROAD, E6 1HU PRIME FREEHOLD LONDON FOOD STORE INVESTMENT WITH RESIDENTIAL DEVELOPMENT POTENTIAL
INVESTMENT SUMMARY
zz Prominent standalone food store
zz Located in a vibrant and well connected Greater London suburb, identified within the London Plan as one of the 35 major centres
zz Situated in a prominent position on Myrtle Road adjacent to the entrance to East Ham Market Hall (to be comprehensively redeveloped) and in close proximity to High Street North in the heart of East Ham’s Town Centre
zz Freehold
zz Provides 30,017 sq ft of accommodation arranged over ground and first floors
zz Trading from the premises since 1994, Sainsburys have recently concluded a new 10 year FRI lease at a rent of £400,000 pa
zz Excellent transports links with both the District and the Hammersmith and City underground lines accessed from East Ham Underground Station, giving access to Stratford (15 minutes) and Liverpool Street Station (20 minutes)
zz Large population living in and around East Ham with a district population of around 76,000 and a primary catchment population of 222,000
zz Site extends to 0.44 acres (1,800m2)
zz Excellent potential for redevelopment of the site for residential (with a planning consent already granted prior to the tenant completing a lease renewal)
zz 10 year income without break
zz Exceptional covenant strength of J Sainsbury’s Supermarkets Limited
zz Offers are sought in excess of £6,820,000 (Six Million Eight Hundred and Twenty Thousand Pounds), subject to contract and exclusive of VAT. A purchase at this level provides a net initial yield of 5.5%, after allowing for acquisition costs of 6.65% EAST HAM 2-10 MYRTLE ROAD & 2-6 ST JOHNS ROAD, E6 1HU PRIME FREEHOLD LONDON FOOD STORE INVESTMENT WITH RESIDENTIAL DEVELOPMENT POTENTIAL
LOCATION AND EAST HAM COMMUNICATIONS
East Ham is a continually improving, lively and popular suburb situated within the London borough of Newham, North of the River Thames. The district has an estimated population of approximately 76,000 alongside a primary catchment population of 222,000. The area was identified within the London Plan as one of 35 major centres.
East Ham is conveniently located between Barking and the City of London with easy access to the West End, London City Airport, The Olympic Stadium, Westfield Stratford, The O2 Arena and the Excel M Exhibition Centre.