Richmond retail investment handed £2.5m price tag
A retail investment in Richmond-upon-Thames has been placed on the market with an asking price of £2.5m.
The property – located at 2-6 Hill Street and 2 Red Lion Street – spans a total area of 6,179 sq ft across three floors and is leased to Waterstones on a new 5.25 year lease, expiring in January 2030.
It produces an annual rental income of £172,500.
The store is located in a prime position within Richmond, with nearby retailers and operators including Søstrene Grene, L.K. Bennett, Wagamama, Pizza Express, ODEON, The Ivy, Five Guys, M&S, Barclays, and Zizzis.
It is also situated opposite Sheen Lane’s 90,000 sq ft mixed-use redevelopment of the former House of Fraser department store.
The asking price of £2.5m represents a net initial yield of 6.49%.
TW Keil has been appointed to find a suitable purchaser.