PRIVATE CLIENT THE CO-OPERATIVE COLLIERS WOOD 62 HIGH STREET, LONDON, SW19 2BY Newly developed Foodstore Investment Let to Co-Operative Foodstores Limited on a new 15 year lease THE CO-OPERATIVE COLLIERS WOOD Newly developed Foodstore Investment Let to Co-Operative Foodstores Limited on a new 15 year lease 62 HIGH STREET, LONDON, SW19 2BY INVESTMENT CONSIDERATIONS • Prime location on Colliers Wood High Street. • In close proximity to Colliers Wood Underground Station (Northern Line- Zone 3). • New 15 year lease to Co-Operative Foodstores Limited • Let at £90,000 pa which equates to £19.58psf • Trading commenced in February 2018 • 5 yearly reviews on RPI basis per annum compounded (2%-4% collar and cap) • No tenant break options. • We are seeking offers in excess of £1,780,000 (One Million Seven Hundred and Eighty Thousand Pounds) subject to contract and exclusive of VAT. This shows a net initial yield of 4.75% after allowing for purchaser’s cost of 6.27%. A505 Stevenage Dunstable Stansted Luton Bishop’s A120 A418 LUTON Knebworth Stortford A5 A10 A1(M) A602 A44 M1 A131 A130 A34 Aylesbury Harpenden Welwyn Garden City A40 Hertford A414 M11 Harlow OXFORD BerkhamstedA41 Hemel A12 THE CO-OPERATIVEHempstead St Albans Hatfield A4142 Thame COLLIERS WOOD M10 A414 Chelmsford A138 A420 62 HIGH STREET, LONDON, SW19 2BY J21 A414 Newly developed Foodstore Investment Let to Co-Operative Foodstores Limited on a new 15 year lease A404 Potters Bar Chipping A4010 Chesham J20 Epping J23 Ongar J19 Borehamwood J25 M25 J27 M25 Watford A1 Enfield High Rickmansworth M1 M11 A130 South Wycombe A355 A413 Billericay Oxney Brentwood J28 Wickford M40 Harefield Harrow A10 A127 Ruislip Brent A12 J29 Basildon A404 J16 Cross Romford Wembley Benfleet Henley-on-Thames Uxbridge A40 Southend-on-Sea A34 Canvey Maidenhead Slough A13 M25 Stanford-le-Hope Island A404(M) Southall LONDONLondon J15 City M4 Fulham Windsor Hounslow A2 Clapham READING M4 Heathrow A316Richmond Dartford ( ) Staines Gravesend Sheerness A329 M Egham Ashford COLLIERS WOOD Bracknall A20 J2 Wokingham Ascot Bromley J12 Swanley M3 A309 A3 A23 A322 J3 Rochester Gillingham Walton-on-Thames Croydon Bagshot A232 A21 M2 Sutton M25 M20 Sandhurst M25 Epsom Sittingbourne Shoreham Snodland J10 A Woking A217 2 Biggin Hill A339 1 8 Wandle Meadow A22 J9 M20 Briscoe J5 M26 M3 H Famborough Nature Park Roa a d Lo Sevenoaks y a n Ro g Fleetd d le A331 th M25 y o r R No A3 oa Maidstone n J7 J6 d BASINGSTOKE s J8 A34 R Oxted o Aldershot a d oa d Reigate Ro A26 d ad GUILDFORD n R o bi iso o ns en U Dorking Redhill on North Ro D n R i W o ve a r s d East C si r A21 Famham o ty R e ll li e o A24 63 HIGH STREET R Byegrove Ro g a l Road e d o o R k Tonbridge Haydons Road ad Sout o C r M23 h Roa a Marlborough Ro A303 Godalmingd d t Pa Recreation e Paddock e Horley Road r ad Ground ad t Royal olk S f r Wood A Staplehurst h Gatwick o 2 ig N Tunbridge Alton 1 Witley H Wil 8 C t Wandle Bank Cranleigh avendis on Wells Wandle h Road A264 H 4 2 R A229 a o Park A a d y d a A31 V o d Crawley al Three BridgesR ley o COLLIERS e G ir n WOOD a h r s s d Easton Grinstead e Colliers Wood North v Christchurch Roa Christchurch e n R A264 D s o Recreation Ground a Horshamns d outh Garde S Horsham P r d io ry Rd d oa R et ey n High Stre rtn to d u 8 Mer Currys o A23 a C PC World o Haywards R A23 h ad Ro c escue Heath r Fort u Sainsbury’s h c t s and M&S i r h Burgess Hill C ay W T © Crown Copyright, ES 100004106. For identification purposes only. tun a eran n d M 6 e 3 m ay 2 n W W d ntu A oa era ge R M a eor 24 y ce G A Prin LOCATION SITUATION Colliers Wood is located in the London Borough of Merton, approximately The supermarket is prominently situated fronting Colliers Wood High Street 12.8 km (8 miles) south of Central London, 2 miles east of Wimbledon and which provides access to Tooting Bec Road (A214) to the north and Morden approximately 2 miles south of Balham. Colliers Wood is a densely populated Road (A219) to the south. south-west London suburb, popular with both City workers and families. The property benefits from close proximity to Colliers Wood Underground Communications are excellent with Central London being within easy reach by Station which is situated approximately 320m to the south of the property. London Underground (Colliers Wood, Northern Line), road (30 minutes) and Colliers Wood provides a mix of local and multiple retailers/ restaurants and the over-ground rail with Tooting Railway Station 30 minutes to London Waterloo / immediate area is of mixed use with retail, offices and residential occupiers. London Kings Cross. Colliers Wood has and continues to benefit from significant regeneration, which includes a new town square being generated to complement DESCRIPTION the redevelopment of Colliers Wood Tower to residential units. The area has become synonymous with new residential and retail developments driven by its The property comprises the ground floor of a 3 storey brick built building- the upper close proximity to London. 2 floors provide new residential units which will be sold off on long leases. The ground floor unit provides a new supermarket with loading facilities from the front. THE CO-OPERATIVE COLLIERS WOOD 62 HIGH STREET, LONDON, SW19 2BY Newly developed Foodstore Investment Let to Co-Operative Foodstores Limited on a new 15 year lease ACCOMMODATION COVENANT The property comprises a net internal area of 4,596 sq ft (427 sq m) on the ground Co-Op Foodstores Limited (t/a The Co-operative) was floor only. incorporated in 2014 and following the transfer of a number of assets from Somerfield boasts total assets of over £525m and net assets of over £403m.It is a registered society TENANCY under the Co-operative and Community Benefit Societies The property is let to Co-Operative Foodstores Limited on a full repairing and insuring Act 2014 (32443R), whose registered office is at 1 Angel lease for a term of 15 years from 27th November 2017. The current passing rent is Square, Manchester M60 0AG. £90,000 per annum exclusive of VAT and the lease is subject to annual Retail Price Index Co-Op Foodstores Limited reported the following results in 2016: linked rent reviews compounded on a 5 yearly basis. The RPI uplift is subject to a collar of 2% and a cap of 4%. This rent equates to £19.58 psft. 2 JAN 2016 TIMING Turnover £284,900,000 The Co-Op commenced trading from the unit in February 2018. Pre-Tax Profit £12,300,000 Total Current Assets £525,900,000 TENURE Net Current Assets £403,700,000 Virtual Freehold - 999 year lease. VAT The property is elected for VAT and it is anticipated that the transaction will be treated as a transfer of a going concern (TOGC). DATAROOM For access to the Allsop dataroom please use the following link: https://datarooms.allsop.co.uk/register/ColliersWood PROPOSAL We are seeking offers in excess of £1,780,000 (One Million Seven Hundred and Eighty Thousand Pounds) subject to contract and exclusive of VAT. This shows a net initial yield of 4.75% after allowing for purchaser’s cost of 6.27%. For further information or to make arrangements for viewing please contact: PRIVATE CLIENT TEAM Liam Stray Alex Butler 020 7543 6769 020 7543 6722 [email protected] [email protected] www.allsop.co.uk PRIVATE CLIENT 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 CommandD www.commandHQ.co.uk 02.18.