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Unit 1 Hope Wharf, 37 Greenwich High Road, London SE10 8LR Long Let Nursery in Greenwich (15 Year Lease with RPI Linked Reviews)

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Unit 1 Hope Wharf, 37 Greenwich High Road, London SE10 8LR Long Let Nursery in Greenwich (15 Year Lease with RPI Linked Reviews) Unit 1 Hope Wharf, 37 Greenwich High Road, London SE10 8LR Long let Nursery in Greenwich (15 year lease with RPI linked reviews) Investment Highlights Offers in excess of £625,000 • Newly constructed nursery let on a new 15 year lease • Situated within a prominent residential development in Greenwich, London • 1,491 sq ft of ground floor accommodation with outdoor space and car parking Income • Let to ‘Twinnie Day Nursery Limited’ for 15 years (without £40,000 break) at a passing rent of £40,000 per annum • 5 yearly rent reviews to the higher of RPI (collar and cap of 2% and 4%) and the open market rent. • Excellent transport links to Central London with nearby stations including Greenwich Station and Deptford Bridge DLR NIY 6.10% Location Situation London Borough of Greenwich has a population of The property is situation on Hope Wharf which is 254,557 residents (2011 census). Greenwich has located on Greenwich High Road in close proximity experienced extensive regeneration over the last 2 to both Greenwich Station and Deptford Bridge decades and attracted a large amount of DLR, both of which provide access to Central investment into the locality, including developments London and Canary Wharf. such as the New Capital Quay and the Greenwich Peninsula. Transport Links Distance Greenwich is strategically located to the south east Deptford Bridge DLR 0.2 miles of Central London with excellent transport links via Greenwich Station 0.4 miles Greenwich Station (National Rail) and Deptford A2 120 yards Bridge DLR. The area is best known for the National Maritime There’s a variety of restaurants, bars, shops and Museum, Royal Observatory, Cutty Sark and the markets nearby, including the well known Cutty O2 Arena, which attract over a million tourist each Sark and Greenwich Market which is just over a 15 year. minute walk from the property. Description Tenure The property comprises a commercial unit totalling The property is held on a new 250 year long 1,491 sq ft arranged over ground floor level. The lease at a peppercorn rent. property benefits from outside space at the rear of the property as well as two demised car parking spaces. The unit is part of a wider mixed use development by Fairview Homes consisting of 81 flats and 3,000 sq ft of commercial space. Tenancy The property is let to Twinnie Day Nursery Limited for a term of 15 years without break. The rent is £40,000 per annum, which is subject to 5 yearly upwards only rent reviews to the higher of RPI (cap and collar of 2% - 4%) and the open market rental value. Covenant Information Twinnie Day Nursery Limited (http://twinnienursery.com/) are a day nursery operator based in the South East of England with an existing site in Belvedere, Kent which has been operating since 2013. The site performs consistently against Ofsted inspection having received a ‘Good’ rating since its first inspection. Twinnie benefits from a ‘Low Risk’ Experian rating, with a Credit Risk Score of 87/100. 2019 2018 Net Worth £30,414 £28,648 Turnover £428,351 £349,940 Overall Profit £86,766 £67,238 Further information available upon request. EPC Available upon request. Dataroom Legal documents are available for viewing in the following dataroom: https://datarooms.allsop.co.uk/register/greenwichnursery VAT We understand the property has been elected for VAT. It is anticipated that the sale will be treated as a Transfer of Going Concern (TOGC). Proposal We are instructed to seek offers in excess of £625,000 (Six Hundred and Twenty Five Thousand Pounds) subject to contract and exclusive of VAT. A purchase at this level, provides a Net Initial Yield of 6.10% and a Minimum Reversionary Yield of 6.72% assuming purchaser costs of 5.12%. Contacts Gergo Petrovics James Salmon (0)20 7543 6847 (0)20 7543 6880 [email protected] [email protected] 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..
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