147 Woodberry Grove, London N4 2SB Long Let Sainsbury’s Retail Investment Opportunity Investment Considerations

Prominent position fronting Woodberry Grove, London N4

Located in the London Borough of Hackney, one of London’s major growth areas

The property is held Long Leasehold for a term of 299 years from 3rd September 2013.

Long let retail investment located in the heart of one of Hackney’s largest regeneration schemes

The property totals approximately 468.78 sq m (5,046 sq ft) at ground floor.

The retail unit is let to Sainsbury’s Supermarkets Limited for a term of 15 years from July 2016 with a tenant only option to determine in July 2026

Initial rent passing of £82,500 per annum (£16.35 psf) with 5 yearly RPI linked rent reviews compounded annually, capped at 4% and collared at 1%

Offers are sought in excess of £1,786,000 for the Long Leasehold interest, providing a net initial yield of 4.35% assuming purchaser’s costs of 6.21%.

Woodberry Down 2 Location

Woodberry Down is located in the London Borough of Hackney, one of London’s major growth areas. The retail unit is located at a prominent location fronting Woodberry Grove. The property is within a short walking distance of Manor House underground station and mainline train stations, providing access to the West End and the City. Woodberry Down is an area undergoing major regeneration by Berkeley Homes, set over 64 acres alongside 42 acres of open waters of the Reservoirs. The development is set amidst a multitude of parks, squares and gardens, including . The development boasts a range of onsite amenities including local cafes, dry cleaners and supermarkets as well as being located within close proximity to the bars, shops and restaurants of Stoke Newington’s Church Street.

5517 New Homes

£1BN regeneration investment

64 acres situated alongside water and green space

15 Minutes from the City and the West End

Woodberry Down 3 WOOD WALTHAMSTOW GREEN

TURNPIKE LANE

TOTTENHAM HORNSEY HALE HARRINGAY WALTHAMS TOW SEVEN SISTERS CENTRA L HIGHGATE EPPING HARRINGAY WALTHAMSTOW WOOD SOUTH FOREST GREEN LANES RESERVOIRS TOTTENHAM SISTERS RD N HIGHGATE SEVESTAMFORD HARRI NGAY HILL WALTHAMSTOW MARSHES

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5 PROUD GALLERIES DOWNS INTERNATIONAL ¹ FINCHLEY HIGHBURY & ISLINGTON

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ROAD CALEDONIAN A PARK HACKNEY HACKNEY UNION CHAPEL JUNCTION WICK LONDON 2012

CAMDEN CAMDEN AND RO OLYMPIC STADIUM PRIMROSE HIGHBURY ISLINGTON L WESTFIELD STRATFORD MARKET S HILL TOWN HALL G VICTORIA PARK CAMDEN DALSTON PRIMROSE UPPER STREET KIN VILLAGE TOWN T RE HILL GENT’S VICTORIA EE C BROADWAY R ANAL PARK BUSINESS DESIGN STRATFORD ST MARKET CENTRAL CENTRE T

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PADDINGTON T TEMPLE MUSEUM OF STREE LONDON SHADWELL OXFORD CITY OF MARBLE ARCH SOHO 30 ST MARY AXE ALDGATE CARNABY STREET ST PAUL’S LONDON TOWER BOND STREET SOMERSET HOUSE BLACKFRIARS CATHEDRAL OF LONDON CHINA TOWN WESTFERRY ROYAL ACADEMY OF ARTS MILLENNIUM POPLAR Woodberry Down BRIDGE EAST INDIA 4 UTH BANK LIMEHOUSE HYDE PARK CHARING SO BASIN

CROSS

• Crem Yo (Frozen Yoghurt) • Butchers

Woodberry Down will see • Tostato (Café) • Barbers 5,557 new homes built, • WDCO creating a new community • Fruit & Veg Store for North London

The area is expected to see a further £1billion Café/Restaurants of investment over the next 20 years Hackney Council Tenants • Post Office Young’s Pub Dry Centre • Newsagent • Fruit & Veg Store • Café • Estate Agent The scheme will also JLL (Estate Agents) • Beautician encompass a 1.3 acre public park and a new Project Office / Marketing Suite retail square in the heart of the scheme, due to open in early 2025

W  Woodberry Downs O O D B E R R Y G R O will provide a further 4,645.15 sq m (50,000 sq ft) of flexible retail and leisure space V E Accommodation Tenure VAT EPC

The property is arranged over 468.78 sq m The property is held on a Long Leasehold interest The property has been elected for VAT and it is The property has an EPC rating of B(35). (5,046 sq ft) at ground floor with full height for a term of 299 years from 3rd September 2013 envisaged the sale will be treated as a Transfer of glazed frontage onto Woodberry Grove. The unit is at £1 per annum. a Going Concern (TOGC). serviced by a loading bay to the northern side of the property at ground floor. Proposal Tenancy We are instructed to seek offers in excess of £1,786,000 subject to contract and exclusive of VAT for the Long Leasehold interest. Assuming purchaser’s costs of The retail unit is let to Sainsbury’s Supermarkets The tenant benefits from a rent free period 6.21% this reflects a net initial yield of 4.35% and a low capital value of £353 psf. Limited for a term of 15 years from 7th July 2016 of 3 months. Any outstanding rent free will with a tenant’s only option to determine on 20th be topped up by the vendor at completion, July 2026. by way of a deduction from the purchase price. The initial passing rent is £82,500 per annum (£16.35 psf) with 5 yearly RPI linked rent reviews compounded annually, capped and collared at 4% Contact and 1% respectively. For further information or to arrange on inspection of the property please contact:

Covenant

March March March 2013 2014 2015 (£‘000,000) (£‘000,000) (£‘000,000) James Abrahams Marsha Rabinovich

Turnover 23,290 23,919 23,443 [email protected] [email protected] Founded in 1869, J Sainsbury Plc is a leading 020 7588 4433 020 7588 4433 presence on the high street and is the UK’s second largest food store operator with over 1,200 stores Pre-Tax Jack Sawbridge around the country, employing approximately 616 810 -206 161,000 people. Profit [email protected] 020 7588 4433 During the financial year to March 2016, the Total company added a gross 454,000 sq ft of new Net 4,507 4,706 4,224 selling space at a 1.7% increase since the start of Worth the year. DISCLAIMER: Allsop LLP on its behalf and for the Vendors or Lessors of this property, whose Agents they are, give notice that: These particulars are set out as a general outline only for guidance to intending Purchasers or Lessees, and do not constitute any part of an offer or contract. Details are given without any responsibility and any intending Purchasers, Lessees or Third Parties should not rely on them as statements or representations of fact, but must satisfy themselves by inspection or otherwise as to the correctness of each of them. No person in the employment of Allsop LLP has any authority to make any representation or warranty whatsoever in relation to this property. Unless otherwise Woodberry Down 6 stated, all prices and rents are quoted exclusive of VAT. September 2016