Clapham Junction, SW11
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Clapham Junction, SW11 A Prime Reversionary A3 Bar/Restaurant 276-288 Investment and Redevelopment Opportunity Lavender Hill Lavender Hill | Clapham Junction 276 - 288 Investment Summary Lavender Hill 276-288 - Rare opportunity to acquire a substantial corner 1 freehold investment in a prime London location Clapham ‘Clapham Junction remains the UKs busiest station interchange with Junction (Source: Office for Rail and Road 2015-2016) - Opposite the UK’s busiest station interchange with over 30 Million passengers annually.‘ over 30 Million passengers annually 2 - Single Let A3 Tenant, subject to an underletting outside ’54 Act 3 Location - Freehold Clapham Junction is located in The train station is the busiest in the - Rent: £315,000 pax based on a 2013 Rent Review 4 Battersea, approximately 5.8km south UK with in excess of 2,000 trains and west of Central London. The affluent 430,000 passengers passing through - Reversionary A3 evidence area benefits from excellent transport each day. Regular train services links, a strong demographic profile provide links with the underground - Strong occupier demand from national multiples and one of the highest concentrations network at Waterloo, Vauxhall and of affluent households in Europe. 5 Victoria, as well as a regular service to - Potential for redevelopment on expiry for multiple Gatwick Airport (every 5 – 10 minutes restaurants with residential/offices above, subject to at peak times) with a fastest journey appropriate consents Clapham Junction is strategically time of 25 minutes. The main station located in close proximity to the A3 entrance is from St John’s Hill via a 6 - Offers in excess of £7,380,000 (Seven Million Three and The South Circular (A3205) roads small shopping centre. Hundred and Eighty Thousand Pounds) that link into the M25 London Orbital and the national motorway networks. - A purchase at this level would reflect the following 7 The station is served by numerous yield profile, assuming purchasers costs of 6.6% bus routes including night services. Net Initial Yield 4% 8 The above reflects a low price per sq ft of £267 on an overall basis (GIA). 2 Chelsea RIVER THAMES Nine Elms 8 Battersea Park 6 Fulham 1 7 5 4 Subject Property Putney Clapham Junction Clapham Common Wandsworth 3 276 - 288 Lavender Hill | Clapham Junction Lavender Hill | Clapham Junction 276 - 288 ‘1st Place - Best area ‘One of the best ‘The favourite place of London to live.‘ places to live in the to live in England and (Time Out: City living Survey 2015) UK for Families.‘ Wales for aspiring (Sunday Times Best Places To Live Guide, 2013) young professionals.‘ Situation (Lloyds TSB study, 2013) The subject property is approximately 100m from both entrances to Clapham Junction Station and occupies an extremely prominent position at the corner of Lavender Hill, Falcon Road and opposite the junction with St Johns Road and St John’s Hill. DEMOGRAPHICS The Clapham Junction area benefits from A seperate point of entry from Mossbury Road provides an a significantly above average proportion of additional route of access to the upper floors, via an existing the most affluent AB and C1 social groups. stairwell, curently used as a fire exit. The building is not The area benefits from a particularly high listed but is located in the local conservation area. population of young professionals and families aged 25-44 who traditionally have DIMENSIONS a higher disposable income and spending M Ft power. Gross Frontage 32.14 105 DESCRIPTION Net Frontage 25.64 84 The property consists of a five storey over basement building of traditional masonry Maximum Depth 19.83 65 and structural frame construction. The ground and basement floors are currently ACCOMODATION AND AREAS arranged as a bar/restaurant, with office, storage and toilets at basement. The Floor Description Area (SqM) Area (SqFt) premises also benefits from external seating for approximately 30 covers and a valuable Basement Bar Ancillary 533.2 5739 278 - 288 Lavender Hill premises license permitting trading from Ground Bar/Restaurant 509.9 5489 Clapham Junction 08:00 to 00:30 Sunday to Thursday and 08:00 to 02:30 Friday and Saturday. Ground Gym Entrance 44.9 483 First Gym 460.4 4956 The upper floors are used as a health and fitness club with seperate access at ground Second Gym 485.5 5226 floor from Falcon Road. The club has recently been refurbished to the standard Third Gym 480.2 5169 of Fitness First Platinum level corporate Fourth Gym (Offices) 52.5 565 styling. The gym is currently fitted out with full facilities including, cardio room, gym, Total GIA: 2566.6 27,627 spin studios, steam and sauna. The property has been measured in accordance with RICS Code of Measuring Practice 6th Edition (September 2007) by Plowman Floors 1-3 could be made self contained off Craven Associates.* a wide stair core to the left elevation with *Full plans and the measured survey by PMA are available on lift access from the ground floor lobby. request, showing NIA, ITZA and ceiling heights. Travelodge Dwellings 276 - 288 Lavender Hill | Clapham Junction Junction ApproachLavender Hill | Clapham Junction Hotel 276 - 288 & Cafe Ole Ofce Falcon Road Mossbury Road Dwellings Ofce Household Goods Dwellings Ofce Fitness First Retailing and Leisure in Clapham Junction Health Club Vodka TheTanning Clapham Junction Sweet Sensation Hairdressing Headmaster Superstore Revolution Sandwich Bar Jack’s Convenience Ladbrokes Cafe Minicab@ Clapham Junction has become one of the most established retail Boxes wtc Shop Betting Subway Bus Serv Ofce Store Party Betting Ofce and leisure destinations in South London due to the excellent Clapham William Hill Mail transport links and positive spending habits. Junction Public House St Johns Road is the Café, Cote, All Bar One, Bank meeting point for commuters Shop Stop @ Clapham Junction Station The Falcon Vacant established retail pitch with and Franco Manca. and visitors to the area. Bank/Financial Good News Steers a strong mix of national The above restaurant Restaurant occupiers we Takeaway multiple retailers represented operators are all out of have liaised with recognise Superdrug Health & Beauty including Waitrose, M&S and sight of the station and over the potential to benefit from Mexican Restaurant Entance Debenhams. There is an 400m from its entrance, those people immediately Paperchase Tortilla eclectic mix of restaurants arguably serving more of a exiting the station who do Stationer Menswear Cofee Shop Monsoon Cafe Nero Moss and bars in the area primarily local population. There is not want to walk nearly half a Ladies Wear Ladies & Mens WearAccessorize located on Battersea Rise and little quality offering in the kilometre to Battersea Rise/ Ladies Accessories Northcote Road such as Bills, immediacy of the Station, Northcote Rd for a quality Sainsbury’s Local Entrance Byron Burger, Nandos, Pho the obvious entry and restaurant offer. Kebab Feast Take away Quicksilver Convenience Store Amusements Ilminster Gardens Junction News OCCUPIER REQUIREMENTS* Entrance Games Shop Mobile & Laptop Repair Snappy Snaps Film Develping Tran’s Operator Size Requirement SqFt (GF + B) Stated Term (Years) Beauty Salon Good Morning Vietnam Restaurant Paddy Power Betting Ofce 2500-4000 GF Wagamama 20 1000-1500 B STA Travel Agent St Johns Road 2500 GF Chain ReactionJeweller Carluccios 25 1000 B Dwellings Santander 2000 GF Bank Wahaca 20 2000 B Traid Severus Road Charity Shop 300-500 GF Meat Liquor 20 Dwellings 2000 B (Buses Only) 1250-2500 GF Five Guys 15/20 Shoppers Pride 1250 B Amusements Dwelling 2500 - 3000 GF CEX Fullers 25 2000 B F Hinds Jeweller 2000/2500 GF Busaba 25 North 2000/2500 B *Information available on request. Areas and terms are a guide only following occupier dialogue. Northcote Road Beauchamp Road Lavender Hill | Clapham Junction Lavender Hill | Clapham Junction RENTAL EVIDENCE Tenancy Covenant Rent We are aware of the following relevant transactions; The entire property is let to Information £315,000 per annum exclusive. The Revolution Bars Limited, a rent was last reviewed in 2013. Revolution Bars Limited is a company registered in January LEISURE private Limited Company based 2014, on assignment with an in Ashton-Under-Lyne, Greater Address Operator Type Effective Rent Rate Per Comments Authorised Guarantee Agreement Manchester. Their immediate (AGA) from Inventive Leisure Date Headline SqFt parent company is Inventive Limited. A further AGA exists from Guaranteeco Limited, with the Inventive Leisure Services Ltd who 94 Northcote The Draft House Rent Review March 2014 £62,000 £45 Historic domestic and global parent took the original assignment from Road, SW11 company being Inventive Service Yates Brothers Wine Lodges Plc, Company Limited. There are 8 who are no longer in existence. 230-236 Lavender Pizza Express Rent Review July 2014 £76,500 £43.90 Historic and lesser pitch member companies in the global Hill The lease is on a Full Repairing family tree, including Revolution and Insuring basis with five yearly Bars Group Plc, who floated on the 50/52 Battersea Pho Vietnamese Rent Review October 2014 £80,000 £50.75 Historic upward only rent reviews, the next London Stock Exchange in 2015 review being in 2018 prior to expiry and now operate 60 bars under Rise, SW11 in 2023. The upper floors, together the Revolution and Revolution De with a dedicated ground floor Cuba brands. 35-37 Battersea Cote Rent Review September £138,250 £53.90 Settled 2016 entrance lobby are sublet, outside Rise, SW11 2015 of the Landlord and Tenant Act 1954 with regard to security of 82/84 Battersea Lupita New Letting Q1 2016 £175,000 £63 Subject to competitive tenure, to Fitness First Clubs Rise, SW11 bids from Busaba and Reys Limited guaranteed by Fitness first (Pizza Express) Plc, this lease expires just prior to the head lease in 2023. The open market transaction shows both the pent-up demand from restaurant occupiers and the potential for rental growth in the area.