PRIVATE CLIENT

HIGH JD SPORTS STREET INVESTMENT 123 HIGH STREET NORTH, OPPORTUNITY EAST HAM, E6 1HZ • JD SPORTS, 123 HIGH STREET NORTH, EAST HAM, LONDON E6 1HZ HIGH STREET INVESTMENT OPPORTUNITY

INVESTMENT CONSIDERATIONS PROPOSAL

• Located in East Ham in the London Borough • Income of £110,000 per annum subject to a rent • We are instructed to seek offers in excess of of Newham review in year five £1,725,000 (One Million, Seven Hundred and • Let to the 5A1 covenant of JD Sports Fashion • Recently refurbished in JD Sports full branding Twenty Five Thousand Pounds), subject to PLC for 10 years certain with no breaks • JD Sports have relocated from a smaller store contract and exclusive of VAT. A purchase at • The property comprises 4,424 sq ft of well at 131 High Street North, demonstrating their this level would reflect a net initial yield of6% configured retail in a prime trading position commitment to the pitch after allowing for purchaser’s costs of 6.22%. on High Street North • Ground floor only on a new 999 year lease • JD SPORTS, 123 HIGH STREET NORTH, EAST HAM, LONDON E6 1HZ HIGH STREET INVESTMENT OPPORTUNITY

Stratford International

QUEEN ELIZABETH Stratford OLYMPIC PARK LOCATION EAST HAM LONDON East Ham STADIUM Barking East Ham is a lively and popular suburb situated within the London Borough of Upton Park

Newham, north of the . Abbey Road BARKING The district has an estimated population Plaistow

of approximately 76,000 alongside a West Ham PLAISTOW primary catchment population of BOROUGH OF NEWHAM 222,000. The area was identified within -by-Bow BROMLEY the as one of 35 Major BY BOW Centres. East Ham is conveniently located between Barking and the City of London with easy access to the West BECKTON Canning End, , The Olympic Town Prince Regent Gallions Stadium, Westfield Stratford, the O2 Reach ExCeL London Arena, and The Excel Exhibition. Royal Victoria Royal Albert Dock BLACKWALL Royal Victoria Dock TUNNEL CANARY LONDON CITY AIRPORT WHARF The O2 London City Airport King George V

COMMUNICATIONS East Ham benefits from strong road Stratford 3.5m communications with the A13 situated in close proximity to the south and the A406 () running parallel to the east. Both the District and the & City Underground Lines can be accessed via the East Ham Underground station offering regular services to Stratford Charring Cross 10m (15mins) and Liverpool Street Station (20mins). There are also a number of city wide bus routes in the local vicinity. City of London 6m London City Airport 4m London City Airport is located just 2 miles to the south east and Stansted Airport is approximately 30 miles to the north. 5m Dartford 17m

Greenwich 7m • JD SPORTS, 123 HIGH STREET NORTH, EAST HAM, LONDON E6 1HZ HIGH STREET INVESTMENT OPPORTUNITY

DEMOGRAPHICS RETAIL IN EAST HAM East Ham is an established retail centre with a East Ham is a popular retailing location and High total population within the primary catchment Street North is the principle retailing pitch in area of 222,000. The area benefits from a young the area. There are a large number of national population which includes a particularly high retailers located in the street which include proportion of adults aged 25-44 within the Primark, Foot Locker, Holland & Barrett, Wilko, primary catchment population. East Ham is Boots, Argos, McDonalds, Costa Coffee and projected to see an above average growth in Specsavers amongst many others. population over the period 2017-21 and the area The town boasts an excellent mix of national and is already experiencing an above average rise in local occupiers which serve the local community residential values. and catchment area. The East Ham Market Hall is particularly popular with its quirky and unique mix of local and international market stalls. In terms of total floorspace East Ham retail is estimated to be at approximately 0.51 million sq ft and total in-store comparison retail expenditure (2016) for the area is above the national average for comparable centres at £496m million. • JD SPORTS, 123 HIGH STREET NORTH, EAST HAM, LONDON E6 1HZ HIGH STREET INVESTMENT OPPORTUNITY

SITUATION The property is situated on the west side of High Street North approximately a three minute walk from East Ham underground station. The unit benefits from strong pedestrian flow located in East Ham’s prime retailing pitch. WH Smith is located adjacent to the subject property with Boots and Deichmann Shoes located immediately opposite.

DESCRIPTION ® The property comprises a mid-terrace retail unit arranged over ground floor only which forms part of a larger 2 storey building. The property provides a ground floor retail sales area with ancillary storage and staff accommodation to the rear. There is vehicular access to the rear via Ron Leighton Way.

ACCOMMODATION

Accommodation* Sq m Sq Ft Ground Floor 411 4,424 ITZA 127.6 1,373

*Measurements are approximate, any interested party should carry out their own measured survey.

TENANCY The property is let to JD Sports Fashion PLC for a term of 10 years from 15 August 2017 on an effective full repairing and insuring lease expiring 14 August 2027 without break at a passing rent of £110,000 pa. The rent will be reviewed in 2022 in line with open market rental values.

TENURE 999 Years at a peppercorn rent.

COVENANT INFORMATION JD Sports Fashion Plc, more commonly known as just JD Sports, is a sports-fashion retail company founded in 1981 in Bury, Greater Manchester. The company now has over 1,200 stores across a number of retail fascias and benefits from its own roster of highly sought-after worldwide exclusive product releases. It is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index. In 2016, JD Sports acquired Go Outdoors for £112 million. JD Sports Fashion plc has a current D&B rating of 5A1 and reported the following financial information for the last three years:

Year Ending 28 Jan 2017 30 Jan 2016 31 Jan 2015 Turnover 2,378,694,000 1,821,652,000 1,522,253,000 Pre-Tax Profit 238,368,000 131,631,000 90,496,000 Tangible Net Worth 361,348,000 308,809,000 195,414,000

© Crown Copyright, ES 100004106. For identification purposes only. VAT PROPOSAL The property is elected for VAT and it is We are instructed to seek offers in excess of£1,725,000 (One Million, Seven Hundred and anticipated the transaction will be treated Twenty Five Thousand Pounds), subject to contract and exclusive of VAT. A purchase at as a transfer of a going concern (TOGC). this level would reflect a net initial yield of6% after allowing for purchaser’s costs of 6.22%.

EPC For further information or to make arrangements for viewing please contact: The EPC is available upon request. ALLSOP PRIVATE CLIENT TEAM ASTON ROSE DATAROOM Liam Stray Kevin Neun 020 7543 6769 0203 026 4092 For access to the Allsop Dataroom [email protected] [email protected] please use the following link: https://datarooms.allsop.co.uk/register/EastHam www.allsop.co.uk www.astonrose.co.uk

PRIVATE CLIENT

Misrepresentation Act: 1. Allsop LLP and Aston Rose on its own behalf and on behalf of the instructing party of this portfolio whose agent Allsop and Aston Rose 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 instructing party does not make or give, and neither Allsop or Aston Rose nor any of their 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 instructing party are those contained and expressly referred to in the written contract for sale or agreement for lease between the instructing party 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: Command D - www.commandHQ.co.uk 02.18