The subject property forms a ground floor unit of a development which comprises over 170 residential units and a health centre.
It was built around 2014, the building is several storeys with commercial units on the ground floor and gated access at the rear of the development.
Location Description
White City was previously well known for the Television Centre complex which the BBC headquarters for over 50 years.
White City and the larger Hammersmith area is an affluent London district and ideal commuter location (Zone 2). The nearby Westfield London Shopping Centre is home to many designer brand retailers, chain restaurants and gastropubs, making it a very popular tourist location.
The property is a short walk from the Kiyan Prince Foundation Stadium, home to professional football club, Queens Park Rangers. It is also a very short distance from Soho House – White City House Members club, part of the BBC Building.
The property benefits from close access to White City (Central line) and Wood Lane (Circle & Hammersmith and Fulham) stations as well as easy access to the A40 and adjoining motorways.
The subject property is located in a dense residential location under a large modern development of apartments. The development sits in front of Wormholt Park. Direct access to Bloemfontein Road from the A40 and from Uxbridge Road close to Shepherds Bush market.
Tenancy
The unit is let to the Sainsbury’s Supermarkets Ltd on a 15 year FRI from 4th August 2014.
The tenant only break option in 2024 has been removed, showing tenants strength in the location.
The current rent passing is £100,646 per annum. There is a 5 yearly RPI linked cap and collar rent review, which is capped at 18.5% and collar at 5.1%.
For the year ended 09.03.2019, Sainsbury’s Supermarkets Limited reported a turnover of £24.030b, with a pre-tax profit of £174m, shareholder’s funds of £5.838b and a net worth of £5.669b.