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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 Hemel Hempstead St Albans M10 Chelmsford Hatfield M11 M25 A1(M) Chipping Epping Old Sh Potters Bar Ongar oreham M1 Road M25 A270 A D 2 y 7 Watford Borehamwood M25 Enfield k 0 e M11 R e d High M1 a Rickmansworth p ac 89-90 a l o Wycombe South Billericay d P LONDON Brentwood m R a g h ROAD Oxney Wickford t n Woodford a i M40 Harefield h l C h Green c t Harrow Brent 6 mins i Ruislip Romford Basildon D M40 Cross 0.3 miles Wembley Ilford d Uxbridge Benfleet Southend-on-Sea a o R Barking n o Stanford-le-Hope d Slough n o L M4 WINDSOR d a HOUNSLOW CLAPHAM o M25 DARTFORD R HEATHROW s u r STAINES i KINGSTON m r Brighton e UPON THAMES T T rafa LONDON l e ga r 0 St c GILLINGHAM 1 a l 0 P M3 2 k 3 A c i 2 r e A d c M20 e M2 r a CROYDON l F t EPSOM e P e r r t t e e t d S e WOKING s r LOCATION a y t o S e e n R k c c d M20 i u M2 r s y ’ e d o S l n e d r The city of Brighton and Hove is one of the major e F G a r e SEVENOAKS MAIDSTONE u a M25 D 3 P Q commercial, cultural and tourist centres in the South east y 2 k d s No A e n rt n 0 h R REIGATE e d a R 1 d r located 76 km (47 miles) south of London, 37 km (23 miles) GUILDFORD r o 0 a G U a G p 2 p d M20er g N A o n rt i h r e south of Gatwick Airport and 67 km (42 miles) east of Str eet p c S la P Portsmouth. h g t C u q e o M23 hu r S e rc K in GATWICK r h o gs s t S wo ’ b o tr l d S n e r tr Brighton benefits from excellent transport links with the A27 S e ee e t a t d t ROYAL We e stern Ashford u M C R Q an ee a oad r rlton THREE BRIDGES EAST TUNBRIDGE tl t providing access east and west and the A23 linking the r S Hi GRINSTEAD WELLS ll Po d n town with the M23 in the north and in turn, the M25. CRAWLEY o B e e t n d t N i S o a e rt e r ip h t The town is easily accessible by rail with a regular fast train CHURCHILL e a r h S Ed t S w t S P a r rd e SQUARE e St S d n t l t o l E service to both London Bridge and London Victoria, with a O s ROYAL l dw i ard e S PAVILLON v t a W t P fastest journey time of 55 minutes. International air travel is e e 0 HAYWARDS r t P 1 r THE LANES S t i provided by London Gatwick airport. 0 n t HEATH e e c e 2 l THE GRAND e e r e d A t r A t d S BRIGHTON i S l b t M p t CENTRE i er s S t B h S a tr 2118 S n ee E St t Ja o me i s 3 St L BURGESS HILL 2 Rye k c A A2 a O 59 l y ld K le ing B l S ’s R a t oad l V e Poo in HASSOCKS e A259 Marin e Pa LEWES rade Ma deira Drive BRIGHTON PIER BRIGHTON WORTHING LITTLEHAMPTON NEWHAVEN 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. © Crown Copyright, ES 100004106. For identification purposes only. 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.
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