A private Irish investor has bought a Starbucks in Clapham Junction, SW11, for £4.6m – a 4% yield.
The property, which was bought out of receivership, has a current passing rent of £126,850 per sq ft and comes with development potential.
The property comprises a prominent three-storey, end-of-terrace corner building arranged over ground, first and second floors. There is scope to redevelop the upper floors, where the second floor is currently vacant, into flats.
Kieran D Cotter & Co acted on behalf of the purchaser; Allsop represented the vendor.
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