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Station Rd - Vantage Building 1,475 SF Retail Condo Unit Offered at $580,992 CAD in Hayes UB3 4FL
INVESTMENT HIGHLIGHTS
- Adjacent to the New Elizabeth Line station
- Great local amenities
- Great transport links
EXECUTIVE SUMMARY
Highpoint Village is a mixed-use development, spearheaded by the renowned Ballymore Group, offers a dynamic and thriving environment for retail and leisure businesses. The units are ideally located adjacent to the recently opened Hayes & Harlington Crossrail station, ensuring excellent connectivity and an influx of foot traffic. Hayes has seen a steady population increase over the past several years, with ongoing developments attracting a growing number of residents and workers. The local area offers a diverse population, including families, professionals, and students. This is supported by nearby educational institutions and the area's proximity to Heathrow Airport. Hayes is strategically located near Heathrow Airport, with excellent road and rail links to Central London and the Thames Valley. The property is compliant with fire regulations in connection with the cladding (ESW1).
PROPERTY FACTS
| Total Building Size | 7,310 SF | Floors | 1 |
| Property Type | Retail (Condo) | Typical Floor Size | 7,310 SF |
| Property Subtype | Storefront Retail/Residential | Year Built | 2010 |
| Building Class | B | Lot Size | 0.70 AC |
| Total Building Size | 7,310 SF |
| Property Type | Retail (Condo) |
| Property Subtype | Storefront Retail/Residential |
| Building Class | B |
| Floors | 1 |
| Typical Floor Size | 7,310 SF |
| Year Built | 2010 |
| Lot Size | 0.70 AC |
AMENITIES
- Security System
- Storage Space
1 UNIT AVAILABLE
Unit 1
| Unit Size | 1,475 SF | Tenure | Long Leasehold |
| Price | $580,992 CAD | Cap Rate | 9.46% |
| Price Per SF | $393.89 CAD | NOI | $54,933.53 CAD |
| Condo Use | Retail | Sale Conditions | Ground Lease (Leasehold) |
| Sale Type | Investment |
| Unit Size | 1,475 SF |
| Price | $580,992 CAD |
| Price Per SF | $393.89 CAD |
| Condo Use | Retail |
| Sale Type | Investment |
| Tenure | Long Leasehold |
| Cap Rate | 9.46% |
| NOI | $54,933.53 CAD |
| Sale Conditions | Ground Lease (Leasehold) |
DESCRIPTION
Play Hayes is a well-established soft play centre. The centre has become a popular destination for local families and visitors, catering to children of all ages with a variety of interactive play zones, party facilities, and educational activities. The property is occupied as a nursery and play space under Class E. Alternative uses permitted with landlords consent.
SALE NOTES
Play Hayes have been in occupation since 2013 having renewed their lease on 10th October 2023 on an effective Full Repairing and Insuring 20 year lease, held outside the security of tenure provisions of the Landlord & Tenant Act, expiring on 9th October 2043. The current rent payable is £29,500 pa (equivalent to £20 per sq.ft) with 5 yearly upward only, open market rent reviews, the next in October 2027. There is a tenant only break option on 9th April 2027 on 6 months prior notice. In the event that the break is not operated the tenant will be provided four months rent-free. There is a rent deposit of £11,250. Being offered for sale on a virtual freehold basis (999 years from 2020 at a peppercorn rent) for £312,000 (equivalent to £211 per sq.ft). A sale at this level would produce a 9.16% Net Initial Yield.
MAJOR TENANT INFORMATION Click Here to Access
| TENANT | SF OCCUPIED | LEASE END DATE |
|---|---|---|
| Tesco Express |
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Jan 0000
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| Henry Wiltshire |
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Jan 0000
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| Takaa tak |
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Jan 0000
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| Octmarux (t/a Play Hayes) |
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Jan 0000
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NEARBY MAJOR RETAILERS
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Station Rd - Vantage Building
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