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Home , Epsom, The Ashley Centre

PRIVATE CLIENT

58-62 HIGH STREET , KT19 8AJ PRIME INVESTMENT 58-62 HIGH STREET, EPSOM, KT19 8AJ PRIME RETAIL INVESTMENT

INVESTMENT CONSIDERATIONS ■■ Located in the attractive and affluent ■■ 65% of the income received from JD Sports ■■ Total current rent of £85,000 pa with a reversionary of Epsom until 2022 (5A1) rent of £113,000 pa at the next lease event based ■■ The property comprises 3,573 sq ft of well ■■ JD Sports Fashion plc reported a record yearly on recent lettings configured retail in a prime trading position profit in the 53 weeks to 3 February 2018 with ■■ We are instructed to seek offers in excess of on Epsom High Street (uppers sold off) a 24 per cent rise in pre-tax profits. £1,336,000 (One Million Three Hundred and Thirty ■■ Popular commuter town with excellent links ■■ Latest 20 year letting to the Cell Care unit sets Six Thousand Pounds), subject to contract and to central the Zone A at £85 meaning the JD unit is exclusive of VAT. A purchase at this level would very reversionary at £54.50 reflect a net initial yield of6% after allowing for ■■ Freehold purchaser’s costs of 6.04%. 58-62 HIGH STREET, EPSOM, KT19 8AJ PRIME RETAIL INVESTMENT A505 Stevenage Dunstable Stansted Bishop’s A120 A418 LUTON Knebworth Stortford A5 A10 A1(M) A602 A44 M1 A131 A130 A34 Harpenden A40 Hertford A414 M11 OXFORD A41 Hemel Harlow A12 Hempstead St Albans A4142 Thame M10 A414 A138 A420 J21 A414 A404 Potters Bar Epping A4010 Chesham J20 J23 J19 J25 M25 J27 M25 Watford A1 Enfield High M1 M11 A130 Wycombe A355 A413 Billericay J28 Wickford M40 Harefield Harrow A10 A127 Brent A12 J29 Basildon A404 J16 Cross Romford Wembley Uxbridge A40 Benfleet Southend-on-Sea A34 Maidenhead A13 M25 Stanford-le-Hope A404(M) Southall London J15 M4 LONDONCity Fulham READING Windsor A2 M4 Heathrow Richmond Clapham A316 Dartford ( ) Staines Gravesend Sheerness A329 M Egham Kingston A20 J2 Bracknall A23 Upon Thames Swanley J12 A309 A3 A322 M3 J3 Gillingham Walton-on-Thames A232 Bagshot Sutton A21 M2 M25 M20 Sandhurst M25 Sittingbourne EPSOM Snodland J10 A217 Biggin Hill A339 A22 J9 J5 M26 M20 M3 BASINGSTOKE Fleet A331 A3 M25 Maidstone J7 A34 J8 J6 Oxted Aldershot A26 Famham A21 A24 Tonbridge A303 Godalming M23 Horley Royal Staplehurst Gatwick Tunbridge Cranleigh A264 Wells A229 A31 Three Bridges A264 East Grinstead

Horsham A23

Haywards Heath

Location Excellent Connectivity Epsom is an affluent market town located Sutton is extremely well connected and as a result is a popular commuter town: approximately 27 km (17 miles) south west of Central London in North . Epsom is situated within the south-west quadrant of the M25 approximately 9 miles (14.5 km) north-west of Redhill, 5 miles (8 km) to the north-east of and 9 miles (14.4 The Town benefits from very strong rail Junction 9 of the M25 is approximately 4 miles km) to the north-west of Reigate. communications with frequent mainline train (6.4 km) to the south-west of the town centre via the The government district of Epsom and has services from Epsom station, a 5 minute A24 which leads to the M23, A3 and M3 providing a residential population of approximately 79,500 walk from the subject property. Frequent access to the national motorway network. with a total population within the Epsom Primary services run to the centre of London with Retail Market Area of 120,000. The town straddles direct services to London Vauxhall, Waterloo the and the upper Thanet Formation and Victoria stations with a fastest journey and is renowned for the popular Epsom Downs time of 36 minutes. In addition there are Gatwick Airport is approximately 19 miles Racecourse and the famous . regular services to Dorking, Horsham, (30.4 km) to the south-east and Heathrow Airport Leatherhead and Guildford. approximately 22 miles (35.2 km) to the north-west. 58-62 HIGH STREET, EPSOM, KT19 8AJ PRIME RETAIL INVESTMENT

Retail in Epsom The total population within Epsom’s Primary Retail Market Area is currently 120,000, which is significantly above the Small Town average, yet even more apparent is the fact that Epsom is projected to see significantly above average growth in population over the period 2017-22 (Promis). Retail floor space in Epsom is estimated at 0.56 million sq ft, which is above a town of this type’s average, with the town displaying continuously low vacancy rates, relative to the national average. The main shopping centre is and The Ebbisham Centre providing the A3/ Restaurant offer in the town:- The subject property is situated in between the two centres.

Demographics Epsom is widely regarded as an affluent area due to there being an above average amount of older working age adults (aged 45-64) and a very low claimant count 0.5% in comparison to the national average of 1.1%. The Epsom area contained a significantly above average proportion of adults categorised within the managerial and professional occupations and a low proportion of adults categorised within the unskilled manual employment, the unemployed and those on state benefits. © Crown Copyright, ES 100004106. For identification purposes only. 58-62 HIGH STREET, EPSOM, KT19 8AJ PRIME RETAIL INVESTMENT

Situation The property occupies a prime pitch on the north side of Epsom High Street just east of its junction with Waterloo Road. The High Street benefits from strong pedestrian flow comprising a wide variety of retail, leisure, financial and professional services. Surrounding occupiers include; Fat Face, HSBC, Lloyds, Metro Bank, Fat Face, Mountain Warehouse, Santander and , amongst many others.

Description The property comprises an attractive three storey building which has been split into three well configured ground floor retail units with upper floor student accommodation above. The retail units comprise sales space to the front with ancillary storage accommodation to the rear. Part of the first floor has been let to JD Sports and is used as ancillary storage accommodation. The student accommodation and 62 High Street have been sold off on long leaseholds.

Tenure Freehold

Tenancy Schedule

Address Tenant Accommodation* Sq Ft Sq M ITZA Lease start Rent Review Expiry Rent p.a Zone A ERV p.a 58 High Street Baja Bothers UK Ltd (Cell Cafe) Ground Floor Sales 470 44 353 27/06/2018 27/06/2022 26/06/2038 £30,000 £85 £30,000 Ground Floor Sales 2,165 201 Ground Floor Ancillary 75 7 60 High Street JD Sports Fashion PLC 914 02/02/2012 01/02/2022 £55,000 £54.50 £83,000 First Floor Ancillary 863 80 Total 3,103 288 First Floor 1,462 136 20/02/2013 19/02/3012 £0 £0 1st & 2nd Floor Norwich House (Epsom) LTD Second Floor 1,317 122 Total 2,779 258 62 High Street D & L UK Epsom LTD Ground Floor Sales 315 29 20/02/2013 19/02/3012 £0 £0 Total 6,667 619 £85,000 £113,000

*Allsop have been provided the measurements by the vendor. Any interested party should carry out their own measured survey. 58-62 HIGH STREET, EPSOM, KT19 8AJ PRIME RETAIL INVESTMENT

Rental Comparables Covenant JD Sports Fashion plc reported pre-tax profits of £294.5m in the 53 weeks to 3 February Address Tenant Date £ Zone A 2018, a record for the fashion chain. In-store sales rose 3 per cent on a like-for-like basis, 95 High Street Pret A Manger June 2017 £100 while online sales jumped 30 per cent. Whilst the retail market in general has struggled 91 High Street Metro Bank June 2017 £86 this year JD have continued to profit from the “athleisure” trend towards wearing good quality athletic clothes outside the gym and by offering high end special and limited 59 High Street Post Office April 2017 £73 edition versions of their leisurewear and footwear. 50 High Street Waterstones Jan 2017 £65.50 JD Sports Fashion plc has a current D&B rating of 5A1 and reported the following 97 High Street Starbucks March 2016 £85.00 financial information for the last three years*: Year Ending 03 Feb 2018 28 Jan 2017 30 Jan 2016 Turnover £3,161,400,000 £2,378,694,000 £1,821,652,000 Pre-Tax Profit £294,500,000 £238,368,000 £131,631,000 Tangible Net Worth £623,300,000 £361,348,000 £8,809,000 EPC More information available in the data room.

VAT The property is elected for VAT and we would expect the transaction to be treated as a Transfer of a Going Concern (TOGC).

DATAROOM For access to the Allsop Dataroom please use the following link: https://datarooms.allsop.co.uk/register/EpsomHighStreet

Proposal We are instructed to seek offers in excess of£1,336,000 (One Million Three Hundred and Thirty Six Thousand Pounds), subject to contract and exclusive of VAT. A purchase at this level would reflect a net initial yield of 6% after allowing for purchaser’s costs of 6.04%.

For further information or to make arrangements for viewing please contact:

PRIVATE CLIENT TEAM

Liam Stray Ronnie Morgan 020 7543 6769 020 7543 6808 [email protected] [email protected] www.allsop.co.uk

PRIVATE CLIENT

Misrepresentation Act: 1. Allsop LLP on its own behalf and on behalf of the vendor/lessor of this property whose agent Allsop LLP is, gives notice that: (a) these particulars do not constitute in whole or in part an offer or contract for sale or lease; (b) none of the statements contained in these particulars as to the property are to be relied on as statements or representations of fact; and (c) the vendor/lessor does not make or give, and neither Allsop LLP nor any of its members or any person in its employment has any authority to make or give, any representation or warranty whatsoever in relation to the property. The only representations, warranties, undertakings and contractual obligations to be given or undertaken by the vendor/lessor are those contained and expressly referred to in the written contract for sale or agreement for lease between the vendor/lessor and a purchaser or tenant. 2. Prospective purchasers or tenants are strongly advised to: (a) satisfy themselves as to the correctness of each statement contained in these particulars; (b) inspect the property and the neighbouring area; (c) ensure that any items expressed to be included are available and in working order; (d) arrange a full structural (and where appropriate environmental) survey of the property; and (e) carry out all necessary searches and enquiries. Allsop is the trading name of Allsop LLP. Design CommandD www.commandHQ.co.uk 07.18