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Greater London D1 Investment Let to a Secure Tenant on a 10 Year Unbroken Lease for SALE

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Greater London D1 Investment Let to a Secure Tenant on a 10 Year Unbroken Lease for SALE Greater London D1 Investment Let to a secure Tenant on a 10 year unbroken lease FOR SALE Unit 1, Queenshurst, Sury Basin, Kingston Upon Thames KT2 5NZ UNIT 1, QUEENSHURST, SURY BASIN, KINGSTON UPON THAMES KT2 5NZ INVESTMENT CONSIDERATIONS Kingston upon Thames is an affluent Greater London town recognised as a major regional shopping centre. The property is located just to the north of the town centre, close to Kingston Train Station and directly opposite Sainsbury’s and Nuffield Health Centre. Forms part of a brand new landmark development by Berkeley Homes. Self-contained corner unit with benefit of D1 use totalling approximately 1,830 sq ft. Let to Explore Learning Limited on a new 10 year unbroken lease to expire on 9 May 2029 , at a rent of £32,940 per annum exclusive. LOCATION Upward only rent review inline with CPI at the end of the 5th The Queenshurst development is prominently located immediately to the north of year with no cap. Kingston town centre just off Richmond Road (A307 - the main arterial route to Richmond) and a short walk from Kingston Railway Station. Strong tenant covenant from Explore Learning Limited who Directly opposite the property is a Sainsbury’s Superstore and Nuffield Health Centre operate over 120 centres nationwide. with a large public car park offering ample car parking. Meanwhile, Kingston town centre provides a full range of shops, banking facilities and restaurant and leisure 999 year lease at a peppercorn rent. operators. A regular train service from Kingston Railway Station allows easy connections to Offers sought in excess of £625,000 exclusive and subject to Clapham Junction, Wimbledon and Richmond, with journey times to London Waterloo contract. A purchase at this level would reflect a NIY of c. of approximately 30 minutes. 5.1% assuming usual purchaser's costs. 2 UNIT 1, QUEENSHURST, SURY BASIN, KINGSTON UPON THAMES KT2 5NZ Unit 1 3 UNIT 1, QUEENSHURST, SURY BASIN, KINGSTON UPON THAMES KT2 5NZ DESCRIPTION TENURE The property comprises a self contained ground floor corner The property is available by way of a new 999 commercial unit of approximately 1,830 sq ft GIA forming part of a year lease at a peppercorn ground rent. brand new development by Berkeley Homes. The unit has been fully fitted out by the Tenant to include a tutoring area, WCs, and private PROPOSAL office, and benefits from comfort cooling suspended ceiling, integral LED lighting and full height glazed frontages. Our clients are seeking offers in excess of £625,000 (Six Hundred and Twenty Five Thousand Pounds), subject to contract and TENANCY exclusive of VAT. A purchase at this level The property is let on a new full repairing and insuring lease to Explore reflects a net initial yield in the region of c. 5.1% assuming usual purchasers costs. Learning Limited for a term of 10 years without any breaks, commencing on 10 May 2019 and expiring on 9 May 2029 at a rent of £32,940 per annum exclusive. VAT The lease is granted inside the Landlord & Tenant Act and incorporates We are advised the property is elected for a rent review at the end of the 5th year, 10th May 2024 indexed to CPI VAT. with no cap. The Tenant was granted an 8 month rent free period. EPC COVENANT B 36 - a copy is available upon request www.explorelearning.co.uk Year to Year to Year to Established 2001, Explore Learning provide Maths and English tuition to some 30,000 31/12/2018 31/12/2017 31/12/2016 children nationwide via their network of over 120 centres. £000 £000 £000 Turnover 49,590 45,667 42,786 Catering for children between the ages of 4 and 14 years, they also provide SAT and 11 Plus exam preparation. Profit before tax 2,351 2,695 3,236 Net current assets 6,126 4,976 A summary of their recent financial results is provided. 4,646 CONTACT For further information or to arrange an inspection please contact: ADAM SOLIMAN CATTANEO COMMERCIAL DD: 020 8481 4742 19-23 High Street Mobile: 07714 759701 Kingston upon Thames Email: [email protected] Surrey KT1 1LL MISREPRESENTATION ACT 1967 and DECLARATION CGI of Development Cattaneo Commercial for themselves and for the vendors of this property whose agents they are give notice that: a) the particulars are set out as general outline only for the guidance of intending purchasers and do not constitute, nor constitute part of, an offer or contract; b) 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 purchaser should not rely on them as statements or representations of fact but should satisfy themselves by inspection or otherwise as to the correctness of each of them; c) no person in the employment of Cattaneo Commercial has any authority to make or give any representation or warranty whatever in 4 relation to this property. .
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