In excess of 10.75 years unexpired Let to Holland ... · The area is also well served by public transport with numerous bus routes provided. Elephant & Castle Station is 0.8 km (0.5

In excess of 10.75 years unexpired

Let to Holland & Barrett

Pre-Tax Profits £84m, SH Funds £252m

Potential to create residential upper parts,

subject to planning

No VAT payable

£1,200,000, subject to contract

5.5% Net Initial yield

www.singerviellesales.com

The subject property is situation within the London Borough of Southwark, approximately 5 km (3 miles) south east of Central London.

Walworth Road is a key arterial road into Central London and connects with the A3 and Elephant & Castle immediately to the north. To the south, Walworth Road

continues to Camberwell Road which in turn meets the A202.

The area is also well served by public transport with numerous bus routes provided. Elephant & Castle Station is 0.8 km (0.5 miles) to the north and provides regular rail

services to London Bridge, London Waterloo and London Charing Cross with a journey time of approximately 15 minutes. Denmark Hill Station is 2.4 km (1.5 miles) to

the south and provides regular rail services to London Victoria and London Blackfriars with a journey time of approximately 10 minutes. In addition, Elephant & Castle

Underground Station (Bakerloo & Northern Line) is approximately 0.8 km (0.5 miles) to the north, Kennington Underground Station (Northern Line) approximately 0.8 km

(0.5 miles) to the west and Oval Underground Station (Northern Line) approximately 1.6 km (1 mile) to the south-west. London City Airport is approximately 15 km (9

miles) to the north-east.

In January 2015 it was reported that average house prices in London rose to an all-time high and Land Registry figures show that Southwark has seen one of the biggest

annual rises out of any London suburb (23.8%).

The property is situated in a prime retailing pitch on the east side of Walworth Road. There is a bus stop directly outside the property. Other national retailers immediately

surrounding the subject property include Marks & Spencer, Vodafone, Foot Locker, Boots, JD Sports, Nat West, Dolland & Aitchison and Morrisons.

Lendlease is working in partnership with Southwark Council to deliver a £1.5 billion regeneration project to Elephant & Castle. Walworth Road is set to benefit directly

from the area’s transformation which includes plans to deliver over 6,000 new jobs, up to 2,988 new homes and £1.5 million investment in local schools. In addition,

£30 million is to be invested in transport improvements including reconnecting Walworth Road to the transport hub at Elephant & Castle and creating new cycle routes

between New Kent Road and Walworth Road. For further information see www.elephantandcastle-lendlease.com

The subject property comprises a ground floor retail unit with a small ancillary

area at first floor. Internally, the unit has been fitted out by the tenant to their

usual corporate style.

There is access to the rear of the property via Walworth Place.

The majority of the surrounding properties are arranged over several storeys

whereas the subject property is a single-storey building (with the exception of

a minor 390 sq ft first floor area). Therefore, we believe there is an opportunity

for an investor to create some additional floors and undertake a residential

scheme on the upper parts, subject to obtaining the necessary planning

consents.

The property has been measured by BKR Floor Plans and provides the following

accommodation:

Zone A 27.87 sq m 300 sq ft

Zone B 27.87 sq m 300 sq ft

Zone C 27.87 sq m 300 sq ft

Zone D 23.50 sq m 253 sq ft

ITZA 51.75 sq m 557 sq ft

Ground Floor Office / Storage 39.48 sq m 425 sq ft

First Floor Staff / Storage 36.05 sq m 388 sq ft

Total 182.64 sq m 1,966 sq ft

A set of floor plans is available to download

Freehold.

The property is currently let to Holland & Barrett Retail Limited, on a full

repairing and insuring lease for a term of 15 years from 12th November 2010,

expiring 11th November 2025 (in excess of 10.75 years unexpired). The

current passing rent is £70,000 per annum and the lease benefits from 5

yearly upwards only rent reviews, the next being on 12th November 2015.

Holland & Barrett Retail Limited (Co. No.2758955) has reported the following

figures;

30th September 2013 30th September 2012

Revenue £349,637,000 £335,286,000

Pre-Tax Profits £84,309,000 £74,421,000

Shareholders’ Funds £251,864,000 £194,093,000

Holland & Barrett is Europe's leading retailer of Vitamins, Minerals and Herbal

Supplements. Their stores are a familiar sight in almost every major city and town

across the United Kingdom and Ireland, where they operate over 620 outlets.

The company markets a broad line of nutritional supplement products, as well

as food products which include fruit, nuts, snacks and other items.

Holland & Barrett has the benefit of over 80 years of experience in the health

supplement industry and operates over 660 stores in the UK, 47 in Ireland and

in total the group operated 980 stores including 79 international franchises as at

30th September 2013. For further information please visit

www.hollandandbarrett.com.

The property is not elected for VAT and therefore VAT will not be payable on

the purchase price.

1. An opportunity to acquire a freehold retail investment in an Inner London location;

2. The investment provides highly secure income – let to Holland & Barrett;

3. In excess of 10.75 years unexpired lease term;

4. Potential to create additional floors and undertake a residential scheme on the

upper parts, subject to planning;

5. The property occupies a prime pitch on Walworth Road;

6. The property benefits from being in an area of London currently undergoing a £1.5

billion regeneration project;

7. The investment provides a purchaser with an attractive lot size.

8. The property is not elected for VAT.

Neil Singer [email protected] Tel: +44 (0) 208 954 2410

Richard Wolfryd [email protected] Murray Yugin [email protected]

Dale Henry [email protected]

SUBJECT TO CONTRACT & EXCLUSIVE OF VAT

Misrepresentation Act 1967 Singer Vielle for themselves and for the Vendors or Lessors of this property whose Agents they are give notice that: 1. The particulars are set out as a general outline only for the guidance of intending purchasers or lessees, and do not constitute, nor constitute part of, an offer or contract

2. All descriptions, dimensions, references to condition and necessary permissions for use and occupation, and other details are given in good faith and are believed to be correct but any intending purchasers or tenants should not rely on them as statements or representations of fact but must satisfy themselves by inspection or otherwise as to the correctness of each of them. 3. No person in the employment of Singer Vielle has any authority to make or give any representation or warranty whatever in relation to this property. 4. All maps are for identification purposes only and should not be relied upon for accuracy. 5. Unless otherwise stated, all prices and rentals quoted are exclusive of Value Added Tax to which they may be subject. Finance Act 1989 Unless otherwise stated, all prices and rents are quoted exclusive of VAT. Property Misdescriptions Act 1991 These details are believed to be correct at the time of compilation, but may be subject to subsequent amendment. Concerning the Properties listed and/or appearing on the Site: 1. Under no circumstances shall we be liable to you for any direct, indirect, consequential, incidental or special damages arising out of your purchase or lease of any Properties on the Site. 2. Under no circumstances shall we be liable for any errors or incompleteness of the information relating to any Property listed on this Site or if any Property has been withdrawn from sale or lease nor shall we be responsible for any inaccurate dimensions of any Properties or price listed. 3. Our website service permits you to enquire about and to purchase or lease Properties appearing on or listed on this Site. Such enquiries, purchase or leasing can only be made and permitted strictly subject to the terms and conditions set out below. 4. We do not accept responsibility or liability for the completeness or accuracy of information appearing on this Site which is provided by the Vendors or Lessors of the Property concerned who are solely responsible for such information. 5. Whilst we believe that the Properties listed are available for purchase or lease we make no guarantee that this is the case or that they have not been withdrawn by the Vendor or Lessor of the same. All Properties appearing or listed on the Site are subject to changes, errors or omissions. We have not verified the accuracy of the information relating to the Properties or any dimensions which have been given by the Vendors or Lessors. 6. All Properties are listed subject to contract and the prices shown are exclusive of VAT if applicable.

Our client is seeking a figure of £1,200,000 (One Million, Two

Hundred Thousand Pounds), subject to contract, reflecting a net

initial yield of 5.5%.

Singer Vielle

94-96 Wigmore Street

London W1U 3RF

Tel: +44 (0) 207 935 7200

Vendors Solicitor

Yugin & Partners Solicitors

Jubilee House, Merrion Avenue

Stanmore, Middlesex HA7 4RY