190 Tottenham Court Road, London W1T 7PH

Description

The prominent property is arranged over ground floor and basement to provide a triple fronted shop. It is a prominent Fitzrovia leasehold shop investment, well located opposite Goodge Street Underground Station, let to Optical Center UK Ltd until November 2037. Offered on behalf of a major UK fund. VAT is applicable.

Accommodation

Ground floor and basement - 2,513 sq ft

Location

The property occupies a prime trading position on the eastern side of Tottenham Court Road in the heart of Fitzrovia, directly opposite Goodge Street Underground Station and within walking distance of Tottenham Court Road (Elizabeth Line), Oxford Street and Bloomsbury. Tottenham Court Road is one of Central London's principal retail thoroughfares and benefits from substantial pedestrian footfall, serving a diverse mix of retail, restaurant, office and residential occupiers. Goodge Street Underground Station is directly opposite; Tottenham Court Road Station is nearby. Euston, King's Cross St Pancras and Charing Cross mainline stations are within easy reach.

Tenure / Property Information

Investment Analysis

Prominent Fitzrovia leasehold shop investment directly opposite Goodge Street Underground Station, comprising 2,513 sq ft and let to Optical Center UK Ltd at a current passing rent of £120,000 per annum. At the £1,200,000 guide, the headline gross yield is 10.00%. A formal market value or GDV cannot be established from the supplied evidence because there are no completed sales, sufficiently specific rental comparables, or investment valuation evidence. The approximately 38-year unexpired lease, £3,888 per annum headrent, tenant break options, capped rent review and applicable VAT are material considerations.

Investment Snapshot

Strategy Recommendation

Consider only as an income-led commercial leasehold investment, subject to legal review of the lease, tenant break provisions, rent review cap, Schedule of Condition, headlease and VAT treatment. Do not rely on a BRRR or flip strategy without independent valuation and cost evidence.

Works Required

No refurbishment works are identified in the supplied evidence. The property is let on an effective full repairing and insuring lease, subject to a Schedule of Condition; no works allowance is therefore assumed.

Rental & Market Context

Potential BRRR Position

A BRRR strategy cannot be reliably underwritten because no GDV, comparable evidence, lending terms or refurbishment requirement is supplied. The approximately 38-year unexpired lease and applicable VAT may affect refinanceability and valuation. The existing contracted income is the principal investment case rather than a demonstrated refurbishment uplift.

Buy-to-Let Analysis

The existing contractual passing rent is £120,000 per annum, equivalent to £10,000 per month, producing a 10.00% headline gross yield against the £1,200,000 guide. Net investment performance cannot be fully assessed because VAT, buyer or seller charges and other acquisition costs are not quantified. The lease provides income visibility to November 2037 but includes tenant break options and capped five-yearly rent reviews.

Flip Analysis

A flip or resale surplus cannot be calculated because no supported GDV, resale evidence, refurbishment budget or selling-cost allowance is available. The asset is an income-producing leasehold commercial investment rather than an evidenced refurbishment opportunity.

Investor Risks & Due Diligence

• Approximately 38 years remain on the lease, which may restrict valuation, financeability and future resale.

• Tenant break options are included in the lease and could affect income duration.

• Five-yearly rent reviews are subject to a cap of 130% of the passing rent, limiting potential rental growth.

• A £3,888 per annum headrent is payable and reduces income after headline rent.

• VAT is applicable, but the rate, recovery position and total acquisition impact are not supplied.

• Additional seller or third-party charges may apply and are not quantified.

• The lease is effective full repairing and insuring subject to a Schedule of Condition; the detailed lease and schedule have not been provided.

• No sufficiently specific external rental comparables or completed sales evidence were supplied.

Recommendation

Consider only as an income-led commercial leasehold investment, subject to legal review of the lease, tenant break provisions, rent review cap, Schedule of Condition, headlease and VAT treatment. Do not rely on a BRRR or flip strategy without independent valuation and cost evidence.

Strategy Rating

Analysis Confidence

The passing rent, lease terms, guide price, accommodation and location are supplied, but there is no valuation evidence, rental comparable evidence, EPC, cost schedule, fee schedule or quantified VAT treatment.