Clifton Agency have completed the sale of 141-153 Drummond Street, Euston, London NW1 on behalf of Avignon Capital. The supermarket anchored convenience retail & leisure parade sold for £1,310,905 which reflected a net initial yield of 9.77%.
The Zone 1 virtual freehold investment is located just 200m from Euston Station and had a relatively long 6.5 year WAULT. The property was let to 5 tenants with 40% of the income secured against a Costcutter franchisee. Other tenants include Sushi Point, Ringtone Boxing Gym, Log Nail Spa and Motion Photo Studio.
Ben Simpson commented:
“After advising our clients on this ownership since 2019, it was great to identify a buyer after an extensive marketing process. As always, it was pleasure to work with Gateley’s on the legals and our counterparty at Robert Irving Burns to close the sale prior to the year end.”
For further information on this transaction, or to discuss similar Central London investment requirements, please contact the team at Clifton Agency.
Comments