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The Co-Operative the Former Lounge, White Horse Hill, Chislehurst, Kent, BR7 6DG

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The Co-Operative the Former Lounge, White Horse Hill, Chislehurst, Kent, BR7 6DG The co-operative The Former Lounge, White Horse Hill, Chislehurst, Kent, BR7 6DG Foodstore Investment let to The Southern Co-operative Ltd on a new 15 year lease THE CO-OP THE FORMER LOUNGE, WHITE HORSE HILL, CHISLEHURST, KENT, BR7 6DG INVESTMENT CONSIDERATIONS n Located in the affluent London suburb of Chislehurst n 13 dedicated car parking spaces n New 15 year lease to strong covenant of The Southern Co-operative Ltd n We are instructed to seek offers in excess of £1,600,000 n Let at £94,000 pa which equates to £25.76 psf (One Million Six Hundred Thousand) reflecting a net initial yield of 5.5% assuming purchasers costs of 6.14%. n 5 yearly RPI reviews with a collar of 1% and a cap of 4% A505 Stevenage Dunstable Stansted Luton Luton Bishop’s A120 A41 A418 Knebworth A5 A10 Stortford A44 A602 Oxford A1(M) M1 A131 A130 A34 Aylesbury Welwyn Garden • City A40 Hertford Witney A418 A414 M11 A41 Hemel Harlow THE CO-OP THE FORMERA12 LOUNGE, WHITE HORSE HILL, CHISLEHURST, KENT, BR7 6DG Oxford Hempstead St Albans Hatfield A4142 Thame M10 A414 Chelmsford A138 J21 A414 A420 Chipping A404 Potters Bar Epping L A4010 J20 y ad ds J23 WaldenOngar e Ro Bee ridg t J19 J25 ain e ch J27 M p w M25 W oo Avenue R d R Abingdon Borehamwood alkde d is Road e iew Watford illv A1 Enfield n H R F Dorchester Rickmansworth o a High M1 M11 W A130 r a ml Billericay h d A355 A413 South it a Wycombe Brentwood e n d H Oxney J28 Wickfordo W M25 r a Wallingford e l M40 u s k DIDCOT e W n Harefield Harrow e H Greenway e Wantage v s Brent A10 il th A l A127 Gree A12 d J29 u Ruislip r Cross a Basildon st Dri e A404 J16 tRomford A s n Wembley 2 L m l 0 ve e In a E Benfleet 8 e ad ne u v s i Southend-on-Sea o Henley-on-Thames Uxbridge n ct Ro A40 e Cl Maidenhead a ill B v ham C Canvey H r 263 A lo Ba Slough A13 e M25 Stanford-le-Hopese n Island A404(M) London e LONDON d A34 J15 City k M4 Oa Windsor Fulham Hounslow A2 ad Reading M4 Heathrow Richmond Clapham o Dartford ema R eg Bradfield D ad Staines A316 Gravesend A329(M) Sheerness t Ro Egham Kingston mon Ashford J2 ad el B Bracknall Upon Thames CHISLEHURST T A20 a Ro o ri wn Wokingham Ascot to J12 A23 Bromley Swanley ic s Newbury A309 V y W hen M3 A3 J3 Gillingham a h A322 Rochester y W ite d Walton-on-Thames b R d Croydon gle H o a In o a Ro Bagshot A232 A21 M2 r d y se an lb M20 A33 Sutton H A Sandhurst M25 i A ll d Epsom Sittingbourne e Shoreham Snodland la id J10 A20 e Woking A217 R Biggin Hill 8 o A339 a A22 d J9 J5 M26 M20 M3 Famborough Sevenoaks Basingstoke Fleet M25 A331 A3 Maidstone J8 J7 J6 Oxted E A34 m Aldershot p Reigate A26 r e e Guildford l s Dorking Redhill a s V Dr e 19 v ive Famham 10 A21 o Andover Walden r A24 95 G Park Road Ro Tonbridge 17 M23 ad A303 Godalming 93 15 8 Horley Paddock LOCATION Royal Wood StaplehurstTENANCY 13 6 Gatwick 91 2 Alton Tunbridge 1 Witley Chislehurst is located within the London Borough of Bromley, The property will be let to The Southern Co-operative Ltd from the date 11 Cranleigh 4 A264 Wells 4 3 approximately 16.9 km (10.5 miles) south east of Central London, 5.2 kmA229 of completion for a term of 15 years on full repairing and insuring terms. A31 2 Crawley Stockbridge 5 Three Bridges 6 9 (3.2 miles) east of Bromley and 15.7 km (9.5 miles) east of Croydon. The passing rent will be £94,000 per annum and the lease is subject to five 7 North A264 The LondonEast Grinstead Borough of Bromley has a resident population of 309,392 7 W yearly upward only rent reviews which are reviewed to compounded RPI 9 h Horsham it and Chislehurst is an affluent commuter suburb for Central London. growth with an annual 1% collar and a 4% cap. The current rent equates e Horsham 97 Winchester Ho Elmstead Woods station is approximately 1.6 km (1 mile) to the west to £25.76 psf. rs 99 e 13 of the property providing regular direct train links into London’s Cannon H B 15 ill a Street, London Bridger and London Charing Cross within 30 minutes. 17 h TIMING a A23 Haywards m Practical completion is proposed for April/May 2017. Heath101 R Retail -3 o 1 SITUATION a d The property is situated in a densely populated residential area on the Burgess Hill 103 TENURE corner of White Horse Hill (A208) at its prominent junction with Victoria Long Leasehold – 999 year lease from date of completion. Road. The A208 runs parallel with the A20 and links Orpington to Mottingham. d 60 a o Two primary schools are situated very close to the subject property R a and all the retailing58 offer of Chislehurst is a short distance to the south. COVENANT ri to c The Southern Co-operative Ltd (t/a The Co-operative) 83 i V DESCRIPTION The Southern Co-operative runs over 250 community food stores is rr o and funeral homes across eleven counties in southern England. 81 C The property comprises the ground floor of a 3 storey building. The upper floors will provide 8 new residential units and these will The Southern Co-operative Ltd reported the following results k ro 79 e M be sold off on long leases. The ground floor unit will provide a new across the last three years: ld y fie convenience store with loading facilities to the rear. rs a e v 77 E W y There is a 13 space car park which forms part of the demise on the 24 Jan 2015 25 Jan 2014 26 Jan 2013 a b rn e ce l u 75 L g In other sideW of Victoria Road directly opposite the property. Turnover £350,505,000 £326,716,000 £303,106,000 h ite 73 H Pre-Tax Profit £2,366,000 £11,814,000 £7,748,000 o ACCOMMODATIONrs 71 e H Total Net Worth £89,291,000 £86,555,000 £85,704,000 0m 10m 20m 30m The property will compriseill a gross internal area of 339 sq m y b (3,649 sq ft) on the ground floor only. le 69 g © Crown Copyright, ES 100004106. For identification purposes2 only. In © UKMap Copyright The GeoInformation Group 2017 Licence No. LANDMLON100003121118. Plotted Scale - 1:745 THE CO-OP THE FORMER LOUNGE, WHITE HORSE HILL, CHISLEHURST, KENT, BR7 6DG VAT The property is elected for VAT. It is anticipated that the transaction will be treated as a transfer of going concern (TOGC). DATAROOM For access to the Allsop dataroom please use the following link: https://datarooms.allsop.co.uk/index.php/register/chilslehurst Existing users can log into the dataroom site and register usiung the following access code: chilslehurst PROPOSAL Offers are sought in excess of £1,600,000 (One Million Six Hundred Thousand Pounds) subject to contract and exclusive of VAT. A purchase at this level reflects a net initial yield of 5.5% assuming purchaser’s costs of 6.14%. For further information or to make arrangements for viewing please contact: Jonathan Butcher Liam Stray 020 7543 6755 020 7543 6769 [email protected] [email protected] www.allsop.co.uk 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: Command D www.commandHQ.co.uk 02.17.
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