195 Windmill Lane, Cheshunt Herts EN8 9AW
INVESTMENT AGENCY Marketing Particulars
2 MERROW STREET, WALWORTH, SOUTHWARK, LONDON SE17 2NJ Approximately 1,018 sq.ft.
RETAIL INVESTMENT FOR SALE Ground floor retail investment New 999 year lease Let to Harvey and Thompson Limited (Trading as H & T Pawnbrokers) Attractive 7.07% net initial yield
Copping Joyce Surveyors Limited Registered Office 27 Phipp Street, London EC2A 4NP
www.coppingjoyce.co.uk
Professional Department 020 7749 1040 Commercial Agency 020 7749 1041 Fax 020 7749 1042
Commercial Agency – Valuation – Landlord & Tenant – Development/ Investment – LPA Recoveries – Expert Witness
INVESTMENT AGENCY Marketing Particulars
Copping Joyce Surveyors Limited Registered Office 27 Phipp Street, London EC2A 4NP
www.coppingjoyce.co.uk
Professional Department 020 7749 1040 Commercial Agency 020 7749 1041 Fax 020 7749 1042
Commercial Agency – Valuation – Landlord & Tenant – Development/ Investment – LPA Recoveries – Expert Witness
INVESTMENT AGENCY Marketing Particulars APPROXIMATE FLOOR AREAS* LOCATION The property is well located at the western end of Merrow Street, close to the junction with Walworth Road, a busy retail thoroughfare in the London Borough of Southwark. Nearby occupiers include Marks and Spencer, Argos, Holland and Barrett and an Iceland supermarket. TRANSPORT Elephant & Castle (Piccadilly, Circle and District Lines) – 15 min walk (Bakerloo and Northern Lines and National Rail Services) Numerous bus routes also service the immediate area All walking distances/ times are approximate.
DESCRIPTION The property comprises a ground floor retail unit forming part of an end of terrace Victorian property. The building is of solid brick construction under a mansard roof. The unit is currently occupied by Harvey & Thompson Limited (trading as H & T Pawn Brokers) who also occupy the adjacent building at 389 Walworth Road SE17. TENANCY Tenant: Harvey & Thompson Limited Lease: 15 year lease from 21st November 2012 (inside the security of tenure provisions of the 1954 L & T Act) Passing rent: £9,000 per annum exclusive Review: 21st November 2017 & 21st November 2022.
Floor Ground
Sq ft 1,018
Sq m 94.70
Please note these floor areas have been taken from the VOA website. TENURE New 999 year lease. VAT TBC RATES We understand the rateable value is £5,900, however all interested parties should make their own enquiries London Borough of Southwark. EPC EPC rating of D (81). PROPOSAL We have been instructed to seek offers in excess of £125,000 (One Hundred and Twenty-Five thousand pounds) exclusive and subject to contract for the long leasehold interest. This equates to an attractive net initial yield of 7.07% taking into account purchasers’ costs of 1.8%. LEGAL COSTS Each party to be responsible for their own legal costs incurred in the transaction. PLEASE CONTACT Copping Joyce Tel: 020 7749 1041 John Giblin: [email protected] Jessica Furlong: [email protected]
TENANT COVENANT
2015 Revenue of £89.2m (2014 £87.7m) 2015 profit before tax results of £6.8m (2014: £5.5m) Experian Credit Risk score – Very Low Risk Over 180 pawnbroker stores nationwide
Misrepresentation Act 1967: Copping Joyce Surveyors Limited for themselves, for any joint agents and for the vendors, lessors or assignors of this property whose agents they are given notice that: (i) The particulars are set out as a general guide only for the guidance of intending purchasers or lessees and do not constitute, nor constitute part of, an offer or contract (ii) 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 satisfy themselves by inspection or otherwise as to the correctness of each of them.(iii) No person in the employ of Copping Joyce Surveyors Limited or any joint agents has any authority to make or give any representation or warranty whatever in relation to this property (iv) All rentals and prices are quoted exclusive of VAT(v) All plant, machinery, equipment, services and fixtures and fittings referred to in these particulars were present at the date of publication. They have however not been tested and therefore we give no warranty as to their condition or operation. May 2016: subject to contract
Copping Joyce Surveyors Limited Registered Office 27 Phipp Street, London EC2A 4NP
www.coppingjoyce.co.uk
Professional Department 020 7749 1040 Commercial Agency 020 7749 1041 Fax 020 7749 1042
Commercial Agency – Valuation – Landlord & Tenant – Development/ Investment – LPA Recoveries – Expert Witness
2 MERROW STREET, WALWORTH, SOUTHWARK, LONDON SE17 2NJ Approximately 1,018 sq.ft.
RETAIL INVESTMENT FOR SALE Ground floor retail investment New 999 year lease Let to Harvey and Thompson Limited (Trading as H & T Pawnbrokers) Attractive 7.07% net initial yield
Copping Joyce Surveyors Limited Registered Office 27 Phipp Street, London EC2A 4NP
www.coppingjoyce.co.uk
Professional Department 020 7749 1040 Commercial Agency 020 7749 1041 Fax 020 7749 1042
Commercial Agency – Valuation – Landlord & Tenant – Development/ Investment – LPA Recoveries – Expert Witness
INVESTMENT AGENCY Marketing Particulars
Copping Joyce Surveyors Limited Registered Office 27 Phipp Street, London EC2A 4NP
www.coppingjoyce.co.uk
Professional Department 020 7749 1040 Commercial Agency 020 7749 1041 Fax 020 7749 1042
Commercial Agency – Valuation – Landlord & Tenant – Development/ Investment – LPA Recoveries – Expert Witness
INVESTMENT AGENCY Marketing Particulars APPROXIMATE FLOOR AREAS* LOCATION The property is well located at the western end of Merrow Street, close to the junction with Walworth Road, a busy retail thoroughfare in the London Borough of Southwark. Nearby occupiers include Marks and Spencer, Argos, Holland and Barrett and an Iceland supermarket. TRANSPORT Elephant & Castle (Piccadilly, Circle and District Lines) – 15 min walk (Bakerloo and Northern Lines and National Rail Services) Numerous bus routes also service the immediate area All walking distances/ times are approximate.
DESCRIPTION The property comprises a ground floor retail unit forming part of an end of terrace Victorian property. The building is of solid brick construction under a mansard roof. The unit is currently occupied by Harvey & Thompson Limited (trading as H & T Pawn Brokers) who also occupy the adjacent building at 389 Walworth Road SE17. TENANCY Tenant: Harvey & Thompson Limited Lease: 15 year lease from 21st November 2012 (inside the security of tenure provisions of the 1954 L & T Act) Passing rent: £9,000 per annum exclusive Review: 21st November 2017 & 21st November 2022.
Floor Ground
Sq ft 1,018
Sq m 94.70
Please note these floor areas have been taken from the VOA website. TENURE New 999 year lease. VAT TBC RATES We understand the rateable value is £5,900, however all interested parties should make their own enquiries London Borough of Southwark. EPC EPC rating of D (81). PROPOSAL We have been instructed to seek offers in excess of £125,000 (One Hundred and Twenty-Five thousand pounds) exclusive and subject to contract for the long leasehold interest. This equates to an attractive net initial yield of 7.07% taking into account purchasers’ costs of 1.8%. LEGAL COSTS Each party to be responsible for their own legal costs incurred in the transaction. PLEASE CONTACT Copping Joyce Tel: 020 7749 1041 John Giblin: [email protected] Jessica Furlong: [email protected]
TENANT COVENANT
2015 Revenue of £89.2m (2014 £87.7m) 2015 profit before tax results of £6.8m (2014: £5.5m) Experian Credit Risk score – Very Low Risk Over 180 pawnbroker stores nationwide
Misrepresentation Act 1967: Copping Joyce Surveyors Limited for themselves, for any joint agents and for the vendors, lessors or assignors of this property whose agents they are given notice that: (i) The particulars are set out as a general guide only for the guidance of intending purchasers or lessees and do not constitute, nor constitute part of, an offer or contract (ii) 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 satisfy themselves by inspection or otherwise as to the correctness of each of them.(iii) No person in the employ of Copping Joyce Surveyors Limited or any joint agents has any authority to make or give any representation or warranty whatever in relation to this property (iv) All rentals and prices are quoted exclusive of VAT(v) All plant, machinery, equipment, services and fixtures and fittings referred to in these particulars were present at the date of publication. They have however not been tested and therefore we give no warranty as to their condition or operation. May 2016: subject to contract
Copping Joyce Surveyors Limited Registered Office 27 Phipp Street, London EC2A 4NP
www.coppingjoyce.co.uk
Professional Department 020 7749 1040 Commercial Agency 020 7749 1041 Fax 020 7749 1042
Commercial Agency – Valuation – Landlord & Tenant – Development/ Investment – LPA Recoveries – Expert Witness
