• The property is let to The Works and Accessorize producing a total current income of £187,500 per annum exclusive.

• Rebased rents with lease start dates in 2024 and 2023. Previous passing rent on 47 George Street was £321,000 per annum.

• Estimated rental value of £207,000 per annum based on a Zone A tone of c.£152 per sq ft.

• WAULT of 6.31 years to expiry and 3.38 years to break.

• The property benefits from a desirable planning permission to change the self-contained first and second floors of 47 Gorge Street to provide 7 x residential dwellings (Class C3) and associated fenestration alterations.

• Freehold.

We are instructed to seek offers of £4,500,000 (Four Million Five Hundred Thousand Pounds) subject to contract and exclusive of VAT, which reflects a net initial yield of 6% on the commercial element after allowing for the deduction of standard purchaser’s costs and a capital value of £324 psf attributed to the residential development opportunity.