Brighton Bn1 4Jf

89-90 LONDON ROAD BRIGHTON BN1 4JF

RETAIL & RESIDENTIAL INVESTMENT OPPORTUNITY 89-90 LONDON ROAD BRIGHTON BN1 4JF

INVESTMENT CONSIDERATIONS ■■ Located in the popular city of Brighton ■■ 6 minute walk (0.3 miles) from Brighton Railway Station ■■ London Road is an up and coming vibrant area ■■ Comprises a ground floor retail unit with three upper floors of residential accommodation ■■ Totalling approximately 5,550 sq ft ■■ Retail unit let to The Martlets Trading co Limited with a guarantee from The Martlets Hospice Limited on a lease expiring in March 2025 ■■ Rent of £65,000 pa on the retail accommodation reflecting a low Zone A of £65 psf ■■ Total ERV for the residential accommodation is £62,400 pa ■■ Total rent passing of £112,400 pa, ERV of £127,400 pa ■■ Offers are sought in excess of £2,000,000 (Two Million Pounds) subject to contract and exclusive of VAT. 89-90 LONDON ROAD BRIGHTON BN1 4JF RETAIL & RESIDENTIAL INVESTMENT OPPORTUNITY

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EASTBOURNE 89-90 LONDON ROAD

BRIGHTON Brighton - London Road BN1 4JF RETAIL & RESIDENTIAL INVESTMENT OPPORTUNITY

DEMOGRAPHICS SITUATION The total population within the Brighton primary catchment area is The property is situated on London 515,000 with an estimated shopping population of 329,000. Brighton Road in a mixed retail and residential also has a sizeable student population, estimated at around 30,000 area. Brighton Railway Station is bringing additional spend to the catchment area during term time. The approximately a 6 minute walk south age profile of the Brighton primary catchment population includes a west of the property. particularly high proportion of young adults aged 15-24; adults aged Nearby occupiers include Natwest, 25-44 are also over represented. In 2011, the Brighton area contained Boots Opticians, Superdrug, British a significantly above average proportion of adults of working age within Heart Foundation, Scope, Poundland, the most affluent AB social group. Dominos along with a wide range of Spending in Brighton is boosted by leisure and business tourism and local independent occupiers. ranks within the top ten towns for staying visits in Britain according to VisitBritain.org, with 457,000 such visits in 2015. According to Brighton & Hove City Council, some 8.5 million tourists visit the city each year.

Experian Goad Plan Created: 20/01/2017 50 metres Created By: Allsop

Copyright and confidentiality Experian, 2017. © Crown copyright and For more information on our products and services: database rights 2017. OS 100019885 www.experian.co.uk/goad | [email protected] | 0845 601 6011 89-90 LONDON ROAD BRIGHTON BN1 4JF RETAIL & RESIDENTIAL INVESTMENT OPPORTUNITY

LONDON ROAD REGENERATION London Road has become the focus of a number of strategies and projects aimed at improving its environment. The London Road Masterplan sets out the vision to make London Road attractive for business investment and a popular destination for customers to spend their time and as a result increase retail spend. Recent regeneration projects include the Open Market and site J of the New England Quarter. The Open Market site features a covered market with 45 independent retail units and 12 artists’ studios at first floor level supporting the wider regeneration of the London Road shopping area. Site J of the New England Quarter (NEQ) is a large mixed use development adjacent to the railway station in the centre of Brighton. Site J comprises 147 residential units, a 98 bedroom hotel, office and retail floor space. The pedestrian route links the rear entrance to the station with London Road. Another major regeneration project on London Road is Abacus House. This is a 350 bed student scheme situated at 94 London Road. It provides a high quality hall of residence for several academic institutions including Sussex University and Brighton Film School. Furthermore the area benefits from the Mary Portas initiative www.visitlondonroad.co.uk which was established to promote London Road as a part of Brighton that is rapidly improving.

DESCRIPTION TENANCY SCHEDULE The property comprises a ground floor retail unit Unit Tenant Floor NIA Start Review Expiry Passing ERV and 2 upper floors of newly converted residential (sq ft) Date Date Date Rent pa pa accommodation and a newly built top floor penthouse. Ground The Martlets Ground 3,040 13/03/2015 13/03/2020 12/03/2025 £65,000 £65,000 Trading Co Limited The retail unit benefits from a large frontage onto London Road, internally the unit comprises a retail ITZA 1,000 (£65 Zone A) shop with ancillary accommodation to the rear. Flat 1 Vacant 572 0 £15,000 The residential accommodation has its own Flat 2 Private 580 09/01/2017 08/01/2018 £16,200 £16,200 entrance from London Road and comprises 4 x 2 bedroom apartments. The apartments have been Flat 3 Private 708 25/01/2017 24/01/2018 £15,000 £15,000 finished to a high specification with the penthouse and the duplex benefitting from substantial roof Flat 4 Private 650 11/02/2017 10/08/2017 £16,200 £16,200 terraces. Total 5,550 £112,400 £127,400 COVENANT Martlets is a registered charity caring for people living through For the year ended 31 March 2016, retail operations have terminal illness in and around Brighton and Hove. Across the contributed £1.7m to income, an increase on £184,000 on the hospice services, over 25,000 local people have been cared for and/ previous year. One major contribution to the increase has been the or supported since 1997. opening of the London Road store.

The Martlets Trading Co Ltd (04557282) Guarantor - The Martlets Hospice Limited (2326410)

31/03/2016 31/03/2015 31/03/2014 31/03/2016 31/03/2015 31/03/2014

Turnover (000’s) £1,744,414 £1,560,576 - Turnover (000’s) - - -

Pre-Tax Profit (000’s) -£10,966 -£2,145 - Pre-Tax Profit (000’s) £1,625,982 £765,425 £2,464,595

Total Net Worth (000’s) £4,006 £12,811 £14,527 Total Net Worth (000’s) £9,216,990 £7,591,008 £6,825,583

TENURE EPC’s VAT Freehold. The freehold is held in one Ground Floor - D81 The property is elected for VAT however we would company and a long lease of 999 years for Flat 1 – C81 Flat 2 – C77 anticipate the transaction will be treated as a Transfer the residential is held in a separate vehicle. Flat 3 – C83 Flat 4 – C81 of a Going Concern (TOGC).

PROPOSAL Offers are sought in excess of £2,000,000 (Two Million Pounds) subject to contract and exclusive of VAT.

For further information or to make arrangements for viewing please contact:

Lottie Hayward Andy Pointon 020 7543 6750 020 7543 6720 [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 CommandD www.commandHQ.co.uk 02.17