8a artillery row - Levy LLP
GROUND FLOOR
8A ARTILLERY ROW LONDON SW1 RETAIL INVESTMENT SALE
INVESTMENT SUMMARY • Prominently located in Victoria, SW1 • Virtual Freehold on a new 999 year lease at a peppercorn rent • Ground floor accommodation on a new 15 year lease trading as Vital Ingredient • Current passing rent of £105,000 per annum • Net internal area of 2,134 sq ft (198 sq m) • Offers in excess of £1,950,000 (One Million Nine Hundred and Fifty Thousand pounds) subject to contract • Low capital value of £914 psf • Net initial yield of 5.09% after usual purchaser’s costs of 5.80%
GROUND FLOOR, 8A ARTILLERY ROW, LONDON, SW1
LOCATION
COMMUNICATION
The property is prominently located in Victoria on the west side of Artillery Row at its junction with Howick Place, immediately to the south of Victoria Street and Buckingham Gate.
The property has excellent communications being within a short walk away from Victoria Station, St James’s Park and Westminster Underground Station. Victoria Station is undergoing the first stage of upgrade works which will result in £700 million worth of investment significantly enhancing Victoria’s position as one of London’s primary transport hubs. Victoria Station is the second busiest station in the UK enjoying a footfall of more than 77 million people per year.
Victoria is becoming a centre for global luxury retail brands including Tom Ford, Jimmy Choo and Marc Newson. Most recently the Kering Group whose brands include Gucci, Saint Laurent and Stella McCartney has taken 11,600 sq ft at 62 Buckingham Gate.
Victoria Underground Station is serviced by the District, Circle and Victoria lines. Westminster and St James’s Park Underground stations are also with an easy walking distance.
The site is well positioned in an improving location, opposite to the House of Fraser department store and adjacent to One Howick Place, a substantial office led mixed use development, which houses the Head Office of Giorgio Armani S.p.A.
LL
RD
CHURCHILL WAR ROOMS
ST JAMES’S PARK
RR D
A3214
G AT E QUEEN ANNE’S
ST
DAR L
AY
E BB
DW
OLD PYE ST
RO
W T
W RO ST
ER
TP L OA
HE
NC
WC
FR
EE
S
RO
R’
GR
LA
EL V
ST
S CI AN
E
HO
N
ST
NK
AC
SC
TO
N ST
RR
’S
ER
ME DWAY ST
The ground floor unit provides 2,134 square feet (NIA) of brand new retail accommodation creating an attractive continuous street frontage arranged along the length of Artillery Row. Retail Unit 8A Artillery Row
ST
ST
TE
PL
D YR
AT
H
LE
ET
E
CO
AV
RR
EY
N
EFE
GR
DE
EE N C O A
MARSHAM
RS
RD
OS
M O NC K S T
Y
HO
EB
BR
GR
G R E AT PE T E R ST
G R E AT P E T E R S T
TH
AM WESTMINSTER CATHEDRAL
RP
IS
ST
NG
IA
KI
OR
RL
MO
CA
ICT 2V
APOLLO VICTORIA THEATRE
DESCRIPTION & ACCOMMODATION The property provides a self-contained retail unit arranged over ground floor level.
RCHARD ST YO
BA A3212 MILL
ICK P
A
IA
T UF TO
HOW
HOWICK PL
OR
WESTMINSTER ABBEY
T
MI T H ST
ET
CT
EE
TS EA
STRE
O R IA
VI 02
R ST
ST
2 14
C A X TO N S T
TE
RE ST
I RL
A30
LONDON VICTORIA
GA
A3
VICTORIA
TE R M I N U S P L
AM
D AC
N GRD
VICT A302
LN
GH
E’S ST ANN
2
CARDINAL PLACE SHOPPING CENTRE
VICTORIA PALACE THEATRE
LE
IN
S TR U T TO
A30
A3
ST
CK
PALACE OF WESTMINSTER
GR
WA R
CA
BU
ST
OA
IL
D
ARTILLER Y ROW
W
ST
E FR
TOT HI LL S T
BR
FO ST KR OW
CE
WIC
LA
Y
BIG BEN
ST. JAMES’S PARK
E
ER ST
AF
PETT
NC
PA L M
RD
PL
B R O A D W AY
A FR
B RID G E S T
S TO R E Y’S G ATE
UTH
LK G E WA
TMO
A B IR D C
RD
SPU
UR
PA
WESTMINSTER
SP
BUCKINGHAM PALACE
A3212
A EM
HO R S E GU A RD ’ S
TH
CONSTITUTION HILL
Victoria Station provides a non-stop direct service to Gatwick Airport with departures every 15 minutes, and a journey time of only 30 minutes.
RO MN EY S T
H O RS EF E RR Y R D
Floor
Accommodation
Ground
Retail
Sq m
Sq ft
ITZA
198
2,134
709
PA SS AG
GROUND FLOOR, 8A ARTILLERY ROW, LONDON, SW1
FLOOR PLAN
RETAIL LETTING TRANSACTIONS Address
Occupier
Rent (Pax)
Zone A Rent
Area (Sq Ft)
ITZA
Lease Start
Lease Expiry
70-95 Artillery Row, SW1
Pret a Manger
£240,000
£240
2,175
1,000
25/05/2014
24/05/2029
3 Artillery Row, SW1
Eat Keen
£35,000
£135
550
259
15/05/2014
14/05/2029
5 Artillery Row, SW1
Adobo
£32,500
£130
250
250
03/10/2013
02/10/2023
RETAIL INVESTMENT TRANSACTIONS Status
Sale Date
Address
Tenure
Sq Ft
Tenant
Term Certain
Sold/Available Price (£/m)
Yield
VFH
2,417
Masman Project Limited
15
£4.35
5.00%
FH
3,612
Starbucks
15
£3.50
3.51%
Sold
Q4 14
68-70 Wardour Street, W1
Under Offer
Q1 15
4 Great Marlborough Street, W1
Sold
Q4 14
409-410 Strand, WC2
VFH / FH
3,744
Byron Burgers
15
£5.90
3.75%
Sold
Q4 14
95-99 Charing Cross Road, WC2
VFH / FH
1,890
The Change Group / Caffè Nero
10
£4.25
4.24%
Sold
Q4 14
136 Great Portland Street, W1
VFH
1,004
Pret A Manger
15
£2.65
3.75%
TENANCY The entire property is let to Outbrand Retail Ltd (Company Number: 04026290) trading as Vital Ingredient at a passing rent of £105,000 per annum. The tenancy is for 15 years from 9th March 2015 until 8th March 2030 subject to upwards only open market reviews in years 5 and 10. The vendor will top the rent up over the remainder of the initial 6 month rent free period until 9th September 2015. The passing rent of £105,000 per annum reflects £49.20 psf overall and a low Zone A rent of £133 ZA.
GROUND FLOOR, 8A ARTILLERY ROW, LONDON, SW1
TENURE
EPC
CONTACTS
The property is offered by way of virtual freehold on a new 999 year lease at a peppercorn rent.
The property has an EPC Rating of C. A copy of the certificate is available on request.
Henry Leighton Tel: 020 7747 0126 Email: [email protected]
VAT
PROPOSAL
Matt Paulson-Ellis Tel: 020 7747 0151 Email: [email protected] Barron Randall Tel: 020 7747 0127 Email: [email protected]
The property is elected for VAT. It is intended that the sale will be treated as a TOGC.
We are seeking offers in excess of £1,950,000 (One Million Nine Hundred and Fifty Thousand Pounds) subject to contract. A purchase at this level will reflect a low capital value of £914 psf and a net initial yield of 5.09% after usual purchaser’s costs of 5.80%.
MISREPRESENTATION ACT 1967 – LEVY REAL ESTATE LLP for themselves and for the Vendors or Lessors of this property whose agents they are given notice that: all descriptions, dimensions, reference to condition and necessary permissions for use and occupation and other details are unless otherwise stated indicative only. Any intending purchasers or tenants should not rely on them as statements or representations of fact or as warranties but must satisfy themselves by inspection or otherwise as to the correctness of each of them. Any services mentioned have not been tested and therefore prospective occupiers should satisfy themselves as to their operation. These particulars are produced in good faith and set out a general guide only and do not constitute part of any offer or contract. No person in the employment of Levy Real Estate LLP has any authority to make or give representation or warranty in relation to this property. All prices and rents are quotes exclusive of VAT unless otherwise stated. Designed & produced by Creativeworld. Tel 01282 858200.
8A ARTILLERY ROW LONDON SW1 RETAIL INVESTMENT SALE
INVESTMENT SUMMARY • Prominently located in Victoria, SW1 • Virtual Freehold on a new 999 year lease at a peppercorn rent • Ground floor accommodation on a new 15 year lease trading as Vital Ingredient • Current passing rent of £105,000 per annum • Net internal area of 2,134 sq ft (198 sq m) • Offers in excess of £1,950,000 (One Million Nine Hundred and Fifty Thousand pounds) subject to contract • Low capital value of £914 psf • Net initial yield of 5.09% after usual purchaser’s costs of 5.80%
GROUND FLOOR, 8A ARTILLERY ROW, LONDON, SW1
LOCATION
COMMUNICATION
The property is prominently located in Victoria on the west side of Artillery Row at its junction with Howick Place, immediately to the south of Victoria Street and Buckingham Gate.
The property has excellent communications being within a short walk away from Victoria Station, St James’s Park and Westminster Underground Station. Victoria Station is undergoing the first stage of upgrade works which will result in £700 million worth of investment significantly enhancing Victoria’s position as one of London’s primary transport hubs. Victoria Station is the second busiest station in the UK enjoying a footfall of more than 77 million people per year.
Victoria is becoming a centre for global luxury retail brands including Tom Ford, Jimmy Choo and Marc Newson. Most recently the Kering Group whose brands include Gucci, Saint Laurent and Stella McCartney has taken 11,600 sq ft at 62 Buckingham Gate.
Victoria Underground Station is serviced by the District, Circle and Victoria lines. Westminster and St James’s Park Underground stations are also with an easy walking distance.
The site is well positioned in an improving location, opposite to the House of Fraser department store and adjacent to One Howick Place, a substantial office led mixed use development, which houses the Head Office of Giorgio Armani S.p.A.
LL
RD
CHURCHILL WAR ROOMS
ST JAMES’S PARK
RR D
A3214
G AT E QUEEN ANNE’S
ST
DAR L
AY
E BB
DW
OLD PYE ST
RO
W T
W RO ST
ER
TP L OA
HE
NC
WC
FR
EE
S
RO
R’
GR
LA
EL V
ST
S CI AN
E
HO
N
ST
NK
AC
SC
TO
N ST
RR
’S
ER
ME DWAY ST
The ground floor unit provides 2,134 square feet (NIA) of brand new retail accommodation creating an attractive continuous street frontage arranged along the length of Artillery Row. Retail Unit 8A Artillery Row
ST
ST
TE
PL
D YR
AT
H
LE
ET
E
CO
AV
RR
EY
N
EFE
GR
DE
EE N C O A
MARSHAM
RS
RD
OS
M O NC K S T
Y
HO
EB
BR
GR
G R E AT PE T E R ST
G R E AT P E T E R S T
TH
AM WESTMINSTER CATHEDRAL
RP
IS
ST
NG
IA
KI
OR
RL
MO
CA
ICT 2V
APOLLO VICTORIA THEATRE
DESCRIPTION & ACCOMMODATION The property provides a self-contained retail unit arranged over ground floor level.
RCHARD ST YO
BA A3212 MILL
ICK P
A
IA
T UF TO
HOW
HOWICK PL
OR
WESTMINSTER ABBEY
T
MI T H ST
ET
CT
EE
TS EA
STRE
O R IA
VI 02
R ST
ST
2 14
C A X TO N S T
TE
RE ST
I RL
A30
LONDON VICTORIA
GA
A3
VICTORIA
TE R M I N U S P L
AM
D AC
N GRD
VICT A302
LN
GH
E’S ST ANN
2
CARDINAL PLACE SHOPPING CENTRE
VICTORIA PALACE THEATRE
LE
IN
S TR U T TO
A30
A3
ST
CK
PALACE OF WESTMINSTER
GR
WA R
CA
BU
ST
OA
IL
D
ARTILLER Y ROW
W
ST
E FR
TOT HI LL S T
BR
FO ST KR OW
CE
WIC
LA
Y
BIG BEN
ST. JAMES’S PARK
E
ER ST
AF
PETT
NC
PA L M
RD
PL
B R O A D W AY
A FR
B RID G E S T
S TO R E Y’S G ATE
UTH
LK G E WA
TMO
A B IR D C
RD
SPU
UR
PA
WESTMINSTER
SP
BUCKINGHAM PALACE
A3212
A EM
HO R S E GU A RD ’ S
TH
CONSTITUTION HILL
Victoria Station provides a non-stop direct service to Gatwick Airport with departures every 15 minutes, and a journey time of only 30 minutes.
RO MN EY S T
H O RS EF E RR Y R D
Floor
Accommodation
Ground
Retail
Sq m
Sq ft
ITZA
198
2,134
709
PA SS AG
GROUND FLOOR, 8A ARTILLERY ROW, LONDON, SW1
FLOOR PLAN
RETAIL LETTING TRANSACTIONS Address
Occupier
Rent (Pax)
Zone A Rent
Area (Sq Ft)
ITZA
Lease Start
Lease Expiry
70-95 Artillery Row, SW1
Pret a Manger
£240,000
£240
2,175
1,000
25/05/2014
24/05/2029
3 Artillery Row, SW1
Eat Keen
£35,000
£135
550
259
15/05/2014
14/05/2029
5 Artillery Row, SW1
Adobo
£32,500
£130
250
250
03/10/2013
02/10/2023
RETAIL INVESTMENT TRANSACTIONS Status
Sale Date
Address
Tenure
Sq Ft
Tenant
Term Certain
Sold/Available Price (£/m)
Yield
VFH
2,417
Masman Project Limited
15
£4.35
5.00%
FH
3,612
Starbucks
15
£3.50
3.51%
Sold
Q4 14
68-70 Wardour Street, W1
Under Offer
Q1 15
4 Great Marlborough Street, W1
Sold
Q4 14
409-410 Strand, WC2
VFH / FH
3,744
Byron Burgers
15
£5.90
3.75%
Sold
Q4 14
95-99 Charing Cross Road, WC2
VFH / FH
1,890
The Change Group / Caffè Nero
10
£4.25
4.24%
Sold
Q4 14
136 Great Portland Street, W1
VFH
1,004
Pret A Manger
15
£2.65
3.75%
TENANCY The entire property is let to Outbrand Retail Ltd (Company Number: 04026290) trading as Vital Ingredient at a passing rent of £105,000 per annum. The tenancy is for 15 years from 9th March 2015 until 8th March 2030 subject to upwards only open market reviews in years 5 and 10. The vendor will top the rent up over the remainder of the initial 6 month rent free period until 9th September 2015. The passing rent of £105,000 per annum reflects £49.20 psf overall and a low Zone A rent of £133 ZA.
GROUND FLOOR, 8A ARTILLERY ROW, LONDON, SW1
TENURE
EPC
CONTACTS
The property is offered by way of virtual freehold on a new 999 year lease at a peppercorn rent.
The property has an EPC Rating of C. A copy of the certificate is available on request.
Henry Leighton Tel: 020 7747 0126 Email: [email protected]
VAT
PROPOSAL
Matt Paulson-Ellis Tel: 020 7747 0151 Email: [email protected] Barron Randall Tel: 020 7747 0127 Email: [email protected]
The property is elected for VAT. It is intended that the sale will be treated as a TOGC.
We are seeking offers in excess of £1,950,000 (One Million Nine Hundred and Fifty Thousand Pounds) subject to contract. A purchase at this level will reflect a low capital value of £914 psf and a net initial yield of 5.09% after usual purchaser’s costs of 5.80%.
MISREPRESENTATION ACT 1967 – LEVY REAL ESTATE LLP for themselves and for the Vendors or Lessors of this property whose agents they are given notice that: all descriptions, dimensions, reference to condition and necessary permissions for use and occupation and other details are unless otherwise stated indicative only. Any intending purchasers or tenants should not rely on them as statements or representations of fact or as warranties but must satisfy themselves by inspection or otherwise as to the correctness of each of them. Any services mentioned have not been tested and therefore prospective occupiers should satisfy themselves as to their operation. These particulars are produced in good faith and set out a general guide only and do not constitute part of any offer or contract. No person in the employment of Levy Real Estate LLP has any authority to make or give representation or warranty in relation to this property. All prices and rents are quotes exclusive of VAT unless otherwise stated. Designed & produced by Creativeworld. Tel 01282 858200.
