Property photos
£2,000,000
(£825.76/sq. ft)
Retail premises for sale
Plaza Parade, London HA02,422 sq. ft
Local area information
Property location
Nearby amenities
- Wembley Central 0.1 miles
- Wembley Central 0.1 miles
- The Corner School (SEN) 0.3 miles
- Ark Elvin Academy 0.3 miles
These distances are calculated in a straight line. The actual route and distance may vary.
Read our area guides for Central London and Wembley to find out more about the local area.
Features and description
Investment Consideration:
Gross Initial Yield: 9.34%
Rental Income: £186,705 p.a.
VAT is applicable to this property
Comprises retail parade of 14 ground floor units
Unit sizes between 8-69 sq m (86-743 sq ft)
Prominent location with 100% occupancy rate
Tenants include Jeweller`s, Fruit & Veg, Florist, Money Transfer, Tailor, Hair Salon and Book Store
Situated in the heart of Wembley within 2 min walk from Wembley Central Starion, providing frequent London Underground (Bakerloo Line), London Overground and National Rail services. Occupiers nearby include Lloyds Bank, HSBC, Coral, Restaurant`s, Takeaway, Barber`s and more.
Property Description:
Comprises retail parade of 14 ground floor units. 1 Plaza Parade has been subdivided into 11 retail units, while 3 Plaza Parade has been subdivided into 3 retail units, providing the following accommodation and dimensions.
1 Plaza Parade: 126 sq m (1,356 sq ft)
Unit 1A (Fruit & Veg): 28 sq m (301 sq ft)
Units 1-2 (Book Store): 20 sq m (215 sq ft)
Unit 3 (Jewellery Shop): 13 sq m (140 sq ft)
Unit 4 (Fruit & Veg): 12 sq m (130 sq ft)
Unit 5 (Hair Salon): 13 sq m (140 sq ft)
Unit 6 (Fruit & Veg): 8 sq m (86 sq ft)
Unit 7 (Fruit & Veg): 8 sq m (86 sq ft)
Unit 8 (Textile & Tailor): 8 sq m (86 sq ft)
Unit 9 (Fruit & Veg): 8 sq m (86 sq ft)
Unit 10 (Money Transfer): 8 sq m (86 sq ft)
3 Plaza Parade: 99 sq m (1,066 sq ft)
Unit 3A-b (Jewellery Shop): 69 sq m (743 sq ft)
Unit 3C (Florist): 30 sq m (323 sq ft)
Total gia: 225 sq m (2,422 sq ft)
Tenancy:
1 Plaza Parade
Unit 1A is at present let to an Individual Food for a term of 3 Years from 27th January 2022 (holding over) at a current rent of £25,000 per annum and the lease contains full repairing and insuring covenants.
Units 1-2 are at present let to an Individual for a term of 10 Years from 1st January 2015 at a current rent of £17,500 per annum and the lease contains full repairing and insuring covenants. Rent review in August 2026 and 2029.
Unit 3 is at present let to an Individual for a term of 3 Years from 1st May 2023 at a current rent of £7,500 per annum and the lease contains full repairing and insuring covenants.
Unit 4 is at present let to an Individual for a term of 4 Years from 5th June 2021 at a current rent of £8,750 per annum and the lease contains full repairing and insuring covenants. Rent review from June 2024 outstanding.
Unit 5 is at present let to an Individual for a term of 10 Years from 1st January 2015 (holding over) at a current rent of £11,375 per annum and the lease contains full repairing and insuring covenants.
Unit 6 is at present let to an Individual for a term of 1 Year from 5th June 2023 (holding over) at a current rent of £8,750 per annum and the lease contains full repairing and insuring covenants.
Unit 7 is at present let to an Individual for a term of 1 Year from 1st May 2023 (holding over) at a current rent of £7,500 per annum and the lease contains full repairing and insuring covenants.
Unit 8 is at present let to an Individual for a term of 9 Years from 1st May 2021 at a current rent of £7,500 per annum and the lease contains full repairing and insuring covenants. Rent review in August 2026 and 2029.
Unit 9 is at present let to an Individual for a term of 1 Year from 1st May 2023 (holding over) at a current rent of £8,750 per annum and the lease contains full repairing and insuring covenants.
Unit 10 is at present let to an Individual for a term of 3 Years from 1st May 2023 at a current rent of £11,250 per annum and the lease contains full repairing and insuring covenants.
3 Plaza Parade
Units 3A-b are at present let to an Individual for a term of 10 Years from 1st April 2023 at a current rent of £45,400 per annum and the lease contains full repairing and insuring covenants. Rent review on 31st March 2026.
Unit 3C is at present let to an Individual for a term of 9 Years from 1st January 2015 at a current rent of £27,430 per annum and the lease contains full repairing and insuring covenants. Tenant pays additional £550 + VAT pcm for electricity bill.
Tenure:
Long leasehold. Held for a term of 999 years from 14th January 1997 at a ground rent of peppercorn.
Location:
Wembley is a densely populated London suburb located approximately 8 miles to the north-west of Central London. The North Circular (A406) is easily accessible and links to the M1 (J1) whilst the A40 provides access to the M40 and M25 (J16). Wembley Central Station is 2 min walk from the property and provides frequent London Underground (Bakerloo Line), London Overground and National Rail services. Occupiers nearby include Lloyds Bank, HSBC, Coral, Restaurant`s, Takeaway, Barber`s and many more.
Gross Initial Yield: 9.34%
Rental Income: £186,705 p.a.
VAT is applicable to this property
Comprises retail parade of 14 ground floor units
Unit sizes between 8-69 sq m (86-743 sq ft)
Prominent location with 100% occupancy rate
Tenants include Jeweller`s, Fruit & Veg, Florist, Money Transfer, Tailor, Hair Salon and Book Store
Situated in the heart of Wembley within 2 min walk from Wembley Central Starion, providing frequent London Underground (Bakerloo Line), London Overground and National Rail services. Occupiers nearby include Lloyds Bank, HSBC, Coral, Restaurant`s, Takeaway, Barber`s and more.
Property Description:
Comprises retail parade of 14 ground floor units. 1 Plaza Parade has been subdivided into 11 retail units, while 3 Plaza Parade has been subdivided into 3 retail units, providing the following accommodation and dimensions.
1 Plaza Parade: 126 sq m (1,356 sq ft)
Unit 1A (Fruit & Veg): 28 sq m (301 sq ft)
Units 1-2 (Book Store): 20 sq m (215 sq ft)
Unit 3 (Jewellery Shop): 13 sq m (140 sq ft)
Unit 4 (Fruit & Veg): 12 sq m (130 sq ft)
Unit 5 (Hair Salon): 13 sq m (140 sq ft)
Unit 6 (Fruit & Veg): 8 sq m (86 sq ft)
Unit 7 (Fruit & Veg): 8 sq m (86 sq ft)
Unit 8 (Textile & Tailor): 8 sq m (86 sq ft)
Unit 9 (Fruit & Veg): 8 sq m (86 sq ft)
Unit 10 (Money Transfer): 8 sq m (86 sq ft)
3 Plaza Parade: 99 sq m (1,066 sq ft)
Unit 3A-b (Jewellery Shop): 69 sq m (743 sq ft)
Unit 3C (Florist): 30 sq m (323 sq ft)
Total gia: 225 sq m (2,422 sq ft)
Tenancy:
1 Plaza Parade
Unit 1A is at present let to an Individual Food for a term of 3 Years from 27th January 2022 (holding over) at a current rent of £25,000 per annum and the lease contains full repairing and insuring covenants.
Units 1-2 are at present let to an Individual for a term of 10 Years from 1st January 2015 at a current rent of £17,500 per annum and the lease contains full repairing and insuring covenants. Rent review in August 2026 and 2029.
Unit 3 is at present let to an Individual for a term of 3 Years from 1st May 2023 at a current rent of £7,500 per annum and the lease contains full repairing and insuring covenants.
Unit 4 is at present let to an Individual for a term of 4 Years from 5th June 2021 at a current rent of £8,750 per annum and the lease contains full repairing and insuring covenants. Rent review from June 2024 outstanding.
Unit 5 is at present let to an Individual for a term of 10 Years from 1st January 2015 (holding over) at a current rent of £11,375 per annum and the lease contains full repairing and insuring covenants.
Unit 6 is at present let to an Individual for a term of 1 Year from 5th June 2023 (holding over) at a current rent of £8,750 per annum and the lease contains full repairing and insuring covenants.
Unit 7 is at present let to an Individual for a term of 1 Year from 1st May 2023 (holding over) at a current rent of £7,500 per annum and the lease contains full repairing and insuring covenants.
Unit 8 is at present let to an Individual for a term of 9 Years from 1st May 2021 at a current rent of £7,500 per annum and the lease contains full repairing and insuring covenants. Rent review in August 2026 and 2029.
Unit 9 is at present let to an Individual for a term of 1 Year from 1st May 2023 (holding over) at a current rent of £8,750 per annum and the lease contains full repairing and insuring covenants.
Unit 10 is at present let to an Individual for a term of 3 Years from 1st May 2023 at a current rent of £11,250 per annum and the lease contains full repairing and insuring covenants.
3 Plaza Parade
Units 3A-b are at present let to an Individual for a term of 10 Years from 1st April 2023 at a current rent of £45,400 per annum and the lease contains full repairing and insuring covenants. Rent review on 31st March 2026.
Unit 3C is at present let to an Individual for a term of 9 Years from 1st January 2015 at a current rent of £27,430 per annum and the lease contains full repairing and insuring covenants. Tenant pays additional £550 + VAT pcm for electricity bill.
Tenure:
Long leasehold. Held for a term of 999 years from 14th January 1997 at a ground rent of peppercorn.
Location:
Wembley is a densely populated London suburb located approximately 8 miles to the north-west of Central London. The North Circular (A406) is easily accessible and links to the M1 (J1) whilst the A40 provides access to the M40 and M25 (J16). Wembley Central Station is 2 min walk from the property and provides frequent London Underground (Bakerloo Line), London Overground and National Rail services. Occupiers nearby include Lloyds Bank, HSBC, Coral, Restaurant`s, Takeaway, Barber`s and many more.
More information
Listed by
Blue Alpine Partners
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