243/247 High Street, Hounslow
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| Home | Investment Summary | Location | Demographics | Retailing | Goad | Situation | Description | | Tenure | Tenancy | Tenancy Schedule | Covenant | Rental | VAT | EPC | Proposal | Contact 243/247 HIGH STREET, HOUNSLOW UNBROKEN RETAIL PARADE INVESTMENT OPPORTUNITY | Home | Investment Summary | Location | Demographics | Retailing | Goad | Situation | Description | | Tenure | Tenancy | Tenancy Schedule | Covenant | Rental | VAT | EPC | Proposal | Contact INVESTMENT SUMMARY y Hounslow catchment population is c. 2,361,000 ranking in the top decile of comparison goods trading locations. y 100% prime freehold High Street retail parade investment y Located on the prime, pedestrianised High Street, between the two entrances to the Treaty Shopping centre. y WAULT of 4.47 years y Passing rent of £205,500 pax y Potential to convert upper floors to residential subject to planning. y We are instructed to seek offers in excess of £3,000,000 (Three Million Pounds), subject to contract and exclusive of VAT which reflects a net initial yield of 6.32%, after allowing for purchaser’s costs of 6.45%. 243/247 HIGH STREET, HOUNSLOW UNBROKEN RETAIL PARADE INVESTMENT OPPORTUNITY | Home | Investment Summary | Location | Demographics | Retailing | Goad | Situation | Description | | Tenure | Tenancy | Tenancy Schedule | Covenant | Rental | VAT | EPC | Proposal | Contact Û UXBRIDGE HAYES M25 SHEPHERD’S LOCATION BUSH M4 The London Borough of Hounslow is one M4 M4 M4 of the capital’s largest boroughs covering CHISWICK approximately 22 miles. The principal town A4 within the borough is Hounslow which is located approximately 10 miles (16km) to the south west HEATHROW AIRPORT of Central London and 3 miles (4.8km) from M25 A316 Heathrow Airport. A30 RICHMOND HOUNSLOW The town sits less than 0.5 miles south of the Great West Road (A4), providing quick and easy A3 access to the M4 Motorway via junctions 2 & 3, FELTHAM TWICKENHAM giving access to the M25 and national motorway A30 A316 network to the west, and Hammersmith and Belgravia to the east. M25 A3 In terms of transport five major bus routes M3 run through the town centre, providing easy transport links and 24 hours services to Heathrow, Twickenham, Teddington, Kingston University, Hampton and Tolworth, as well as regular services to Isleworth, West Middlesex University Hospital, West Thames College, and Syon Lane. Hounslow Rail Station also provides services on the Hounslow Loop Line and Waterloo to Chertsey Line, providing six 40 minute services per hour to London Waterloo. There are also three tube stations serving the town, which are Hounslow West, Hounslow Central and Hounslow East all of which are on the Piccadilly line. 243/247 HIGH STREET, HOUNSLOW UNBROKEN RETAIL PARADE INVESTMENT OPPORTUNITY | Home | Investment Summary | Location | Demographics | Retailing | Goad | Situation | Description | | Tenure | Tenancy | Tenancy Schedule | Covenant | Rental | VAT | EPC | Proposal | Contact DEMOGRAPHIC PROFILE Hounslow’s catchment encompasses a total population of 2,361,000, ranking in the top decile of comparison goods trading locations. The total population within the Hounslow primary catchment area is 345,000, significantly above the Smaller London Centre average. Hounslow is projected to see significantly above average growth in population over the period 2016-21. The estimated shopping population of Hounslow is 123,000, which is above the average for the Smaller London Centres. The age profile of the Hounslow primary catchment population includes a particularly high proportion of adults aged 25-44, whereas older working age adults aged 45-64 and the retired aged 65 and over are particularly under-represented within the Hounslow area (Promis, 2017) Hounslow is a thriving economic hub, with employment levels above the national average (PMA), with particular over-representation in the Professional & Business Services Computing, R&D and Telecoms, and Transport & Distribution businesses. The borough has the second highest concentration of ICT & Digital jobs in London. 243/247 HIGH STREET, HOUNSLOW UNBROKEN RETAIL PARADE INVESTMENT OPPORTUNITY | Home | Investment Summary | Location | Demographics | Retailing | Goad | Situation | Description | | Tenure | Tenancy | Tenancy Schedule | Covenant | Rental | VAT | EPC | Proposal | Contact RETAILING IN HOUNSLOW The prime retailing in Hounslow is centred on the partly pedestrianised High Street and the Debenhams anchored Treaty Centre. National multiple retailers represented include H&M, TK Maxx, Primark, Boots and Sports Direct. This retail offer is further supported by the Legal & General owned Blenheim Centre, anchored by a 6,503 sq m (70,000 sq ft) Asda. Barratt London and Wilson Bowden Developments have been chosen by the London Borough of Hounslow as it’s’ partner to develop the Hounslow High Street Quarter. The development will consist of a mixed use scheme in the centre of Hounslow and will provide over 134,000 sq ft of commercial floor space comprising retail and restaurant use. This will include a 12 screen IMAX cinema anchoring the western entrance, with 19 retail/café/restaurant units surrounding the square and entrance onto the High Street. 525 private and affordable homes will be provided by Barratt London including a 27-storey residential tower. The scheme is due to open in late 2019/early 2020 and will be a significant boost to the town centre. 243/247 HIGH STREET, HOUNSLOW UNBROKEN RETAIL PARADE INVESTMENT OPPORTUNITY | Home | Investment Summary | Location | Demographics | Retailing | Goad | Situation | Description | | Tenure | Tenancy | Tenancy Schedule | Covenant | Rental | VAT | EPC | Proposal | Contact HIGH STREET QUARTER BLENHEIM CENTRE GADGET DEPOT NORTH For Identification purposes only 243/247 HIGH STREET, HOUNSLOW UNBROKEN RETAIL PARADE INVESTMENT OPPORTUNITY | Home | Investment Summary | Location | Demographics | Retailing | Goad | Situation | Description | | Tenure | Tenancy | Tenancy Schedule | Covenant | Rental | VAT | EPC | Proposal | Contact SITUATION The subject property is situated in a prime trading location on the pedestrianised High Street, adjacent to Costa Coffee, whilst in close proximity to the entrances to the Treaty Shopping centre. DESCRIPTION The property comprises three well configured retail units arranged principally over three floors, providing sales accommodation on ground with additional ancillary accommodation on the first and second floors. The units are serviced from the Treaty centre to the rear. TENURE The property is held freehold as 3 separate titles. THE TREATY TENANCY CENTRE The property is let in accordance with the tenancy schedule set out below, producing a current rental income of £205,500 pax. All three units are let on effectively Full Repairing and Insuring terms. There is a licence in place relating to rear rights and services at the Treaty Centre, made between The Mayor and Burgess of the London Borough of Hounslow, Mentionland Limited, Taylor Woodrow Property Company Limited and the Prudential Assurance Company Limited. The current licence fee is £3,534 and is increased annually in line with RPI. The current net rent receivable is therefore £201,966 pax. For Identification purposes only 243/247 HIGH STREET, HOUNSLOW UNBROKEN RETAIL PARADE INVESTMENT OPPORTUNITY | Home | Investment Summary | Location | Demographics | Retailing | Goad | Situation | Description | | Tenure | Tenancy | Tenancy Schedule | Covenant | Rental | VAT | EPC | Proposal | Contact TENANCY SCHEDULE Tenant Trading Rent Passing Rent £ pa Rental Value Description Areas sq ft sq m Lease Start Expiry Date Break date Comments Name as Review (Zone A/ sq ft) (Zone A/ sq ft) Ground Floor Sales 1,539 142.98 Ground Floor Storage 155 14.40 Shoe 243 High Zone Shoe Ground Floor ITZA 791.8 units £65,000 £70,100 20/09/2010 19/09/2020 Street Retail Zone First Floor Ancillary 434 40.32 (£78.85) (£85) Limited Second Floor ancillary 435 40.41 Total 2,563 238.1 Ground Floor Sales 1,588 147.52 Ground Floor ITZA 783.75 units Ann 245 High Ann £78,000 £69,300 Summers First Floor Ancillary 478 44.41 08/10/2003 29/09/2018 Street Summers (£95.71) (£85) Ltd Second Floor ancillary 292 27.13 Total 2,358 219.06 Ground Floor Sales 1,155 107.3 There is a basement area Ground Floor ITZA 672.6 units accessed by a hatch. 247 High CEX First Floor Ancillary 917 85.19 £62,500 £62,500 CEX 13/01/2017 12/01/2027 13/01/2022 12/01/2022 (T) Street Limited (£85) (£85) Tenant must Second Floor ancillary 479 44.50 pay penalty of £31,250 if Total 2,551 236.99 break option is exercised Total 7,472 694 £205,500 pa £201,900 pa 243/247 HIGH STREET, HOUNSLOW UNBROKEN RETAIL PARADE INVESTMENT OPPORTUNITY | Home | Investment Summary | Location | Demographics | Retailing | Goad | Situation | Description | | Tenure | Tenancy | Tenancy Schedule | Covenant | Rental | VAT | EPC | Proposal | Contact COVENANT Shoe Zone Retail is a footwear retailer in the United Kingdom and Ireland which sells CeX Ltd is a second hand goods chain based in the United Kingdom specialising in shoes at low prices. It has over 500 stores throughout the UK and Ireland and employs technology, computing and video games. It was established in 1992 in London, and over 4,000 people. has since grown to have more than 350 stores in the UK. The summary accounts information can be set out as follows:- The summary accounts information can be set out as follows:- 01/10/2016 03/10/2015 04/10/2014 30/06/2016 30/06/2015 30/06/2014 Shoe Zone Experian Score CEX Limited Experian Score Retail Limited GBP GBP GBP GBP GBP GBP