602-620 KINGSTON ROAD & 2A, 2B & 2C PRINCE GEORGE’S AVENUE , SW20 8DN

RARE OPPORTUNITY TO ACQUIRE AN UNBROKEN FREEHOLD PARADE ON A LARGE CORNER SITE WITHIN AN AFFLUENT LONDON FIRST TIME THE UNBROKEN PARADE HAS BEEN ON THE MARKET 602-620 KINGSTON ROAD & 2A, 2B & 2C PRINCE GEORGE’S AVENUE RAYNES PARK LONDON, SW20 8DN

INVESTMENT CONSIDERATIONS • Rare unbroken Freehold parade in an affluent London suburb • Comprising a parade of 10 commercial units with 23 flats above and a detached building on Prince George’s Avenue with offices and flats above • Located within the popular commuter suburb of Raynes Park • Situated on a large corner site (0.54 acres) with development potential • The property is currently producing a total rental income of £492,410 per annum • Located in an area of high development with a number of new projects in construction or completed in the vicinity • Various asset management and value added opportunities • Potential Reversion to £526,260 per annum when 616-620 Kingstone Road relet and the vacant flat occupied • Substantial car park to the rear providing 22 car parking spaces

PROPOSAL We are instructed to seek offers in excess of £7,700,000 (Seven Million, Seven Hundred Thousand Pounds) subject to contract and exclusive of VAT. A purchase at this level reflects a low capital value of £356 psf and a Net Initial Yield of 6.00% and a Reversionary Yield of 6.41% after allowing for purchaser’s costs. d Southfields R A505 ld Rd Stansted e ston fi

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t Raynes Parkn is an affluent suburb within the o

m JUNCTION 11 M I N S

e in south-westr London located 1 mile south west of Wimbledon and

a l 9.3 miles Csouth west of . 17 M I N S The south west London neighbourhood is a well-connected popular WATERLOO 21 MINS commuter location, providing direct trains to Clapham Junction (Overground) in 11 minutes and to London Waterloo (Overground, OXFORD CIRCUS 27 MINS Bakerloo, Jubilee, Northern and Waterloo & City Lines) in 21 minutes BLACKFRIARS 36 MINS from Raynes Park Station, which is ideally located 0.2 miles to the west SITUATION of the subject property. In addition, station is situated 0.7 miles to the east which also operates Thameslink services to Bus services in the vicinity provide direct access to , The subject property is situated 0.2 miles east of Raynes Park Blackfriars and Farringdon in 36 minutes and 40 minutes respectively. Wimbledon and . Station, occupying a significant corner site along the southern Raynes Park Station will also benefit from the arrival of Crossrail 2, Raynes Park is well connected, located within close proximity to several side of Kingston Road, bounded by Prince George’s Avenue to a proposed rail route that will run from to Hertfordshire via major roads including the A3, which lies 1 mile to the south west and the west and Carlton Park Avenue to the east. Victoria and St Pancras, with completion due mid 2030’s. The proposals A24 which lies 2 miles to the east. The A24 travels south towards the M25 Raynes Park’s main shopping area, north of the station, is accessed include improvements to the station facilities and an increase in the Motorway whilst the A3 serves a direct route north into south London and via a walkway under the railway, directly opposite the property. number of trains serving the station per hour. south west towards Portsmouth. The surrounding area is predominantly residential in nature with a The nearest London Underground station is London Heathrow and Gatwick are easily accessible via road or public number of commercial premises along Kingston Road, providing (Northern Line) which is 1.6 miles to the east. transport, with fastest journey times of 36 minutes and 40 minutes respectively. retail and office facilities. 602-620 KINGSTON ROAD & 2A, 2B & 2C PRINCE GEORGE’S AVENUE RAYNES PARK LONDON, SW20 8DN

CARLTON PARK AVE

KINGSTON ROAD

APPROACH ROAD APPROACH ROAD

PRINCE GEORGE’S AVENUE

ASTON ROAD

Outline for indicative purposes only. 602 - 620 Kingston Road & 2a, 2b & 2c Prince George’s Avenue © Crown Copyright, ES 100004106. For identification purposes only.

DESCRIPTION The property comprises a terrace of 602-620 Kingston Road 2a, 2b & 2c Prince George’s Avenue ten mixed use buildings fronting onto The ground floor comprises 10 The property comprises a detached Kingston Road together with a purpose- commercial units (currently arranged building currently arranged as open plan built detached building to the rear as 7 single units and a triple unit) and offices on the ground floor converted fronting Prince George’s Avenue. a small office building behind 620 to a community police station with two 602-620 Kingston Road is arranged Kingston Road providing a total gross self-contained flats above. internal area of 7,362 sq ft (684 sq m). over ground, first and second floors with The ground floor provides an additional Prince George’s Avenue arranged over The upper floors are organised as 23 1,694 sq ft (157.4 sq m) of commercial ground and first floor. self-contained studio, 1-bedroom and accommodation and 1,262 sq ft 2-bedroom apartments extending to The property sits on a broadly (117.2 sq m) of residential accommodation a net saleable area of 11,297 sq ft rectangular site extending to above. (1,049.5 sq m). There are 8 flats which approximately 0.54 acres. benefit from individual roof terraces The property also benefits from a large to the rear of the property overlooking car park / yard area to the rear with the rear car park. Most of the flats are parking for approximately 22 cars. accessed from the rear of the property. SITE AREA TENURE 2a, 2b & 2c Prince George’s Avenue 0.54 acres (0.22 ha). Freehold. 602-620 KINGSTON ROAD & 2A, 2B & 2C PRINCE GEORGE’S AVENUE RAYNES PARK LONDON, SW20 8DN

TENANCY INFORMATION

Unit Tenancy Tenant Name (Guarantor) GF F1 F2 Total Accommodation Lease Start Lease Expiry Review WAULT WAULT Contracted Rent per sq ft Comments Type (sq ft) (sq ft) (sq ft) Expiry Break Rent (£ p.a.) (£ psf) 602 Kingston Road Lease Kingly Limited 703 703 25/11/2019 24/11/2024 3.69 3.69 £16,500 £23.47 602a Kingston Road AST Private 526 526 1-bed 24/07/2017 23/07/2021 £13,800 602b Kingston Road AST Private 582 582 1-bed 21/05/2019 17/05/2021 £14,640 Sub Total 703 526 582 1,811 3.69 3.69 £44,940 604 Kingston Road Lease JM C&D Ltd 677 677 13/11/2020 12 /11/203 0 12 /11/2025 9.66 4.66 £16,500 £23.63 Tenant’s Option to Break: 12/11/2025 604a Kingston Road AST Private 717 717 1-bed 01/10/2020 30/09/2021 £13,500 604b Kingston Road AST Private 718 718 1-bed 17/11/2020 16/11/2021 £13,200 Sub Total 677 717 718 2,112 9.66 4.66 £42,700 606 Kingston Road Lease G Haslehurst Builders 716 716 16/06/2017 15/06/2027 6.25 6.25 £15,750 £22.00 606a Kingston Road AST Private 716 716 2-bed 18/07/2020 17/07/2021 16/06/2022 £15,540 606b Kingston Road AST Private 411 411 1-bed 04/11/2017 03/11/2021 £13,020 The property benefits from a terrace Sub Total 716 716 411 1,843 6.25 6.25 £44,310 608 Kingston Road Lease Zest Financial Advisers 698 698 01/11/2019 31/10/2029 01/11/2024 8.63 8.63 £16,250 £23.28 608a Kingston Road AST Private 695 695 1-bed 30/11/2020 29/11/2021 £13,200 608b Kingston Road AST Private 424 424 1-bed 15/08/2020 14/08/2021 £13,200 The property benefits from a terrace Sub Total 698 695 424 1,817 8.63 8.63 £42,650 610 Kingston Road Lease CS Architects 642 642 01/01/2018 31/12/2022 1.79 1.79 £14,770 £23.01 610a Kingston Road AST Vacant 712 712 1-bed ERV: £14,100 per annum 610b Kingston Road AST Private 422 422 Studio 18/10/2014 17/10/2021 £11,94 0 The property benefits from a terrace Sub Total 642 712 422 1,776 1.79 1.79 £26,710 612 Kingston Road Lease Sherwood Cars Limited 642 642 21/07/2016 20/07/2026 21/07/2021 5.35 5.35 £15,000 £23.36

612a Kingston Road AST Private 292 292 1-bed 29/12/2018 28/12/2021 £13,020 Tenant is confirmed to be vacating. 612b Kingston Road AST Private 409 409 1-bed 16/11/2018 15/04/2021 £13,620 The property benefits from a terrace 612c Kingston Road AST Private 403 403 Studio 21/11/2013 3 0 /11/2021 £11,70 0 Sub Total 934 409 403 1,746 5.35 5.35 £53,340 614 Kingston Road New Lease Melville Property Group 649 649 25/03/2021 24/03/2026 5.00 5.00 £16,000 £24.65 Tenant’s Option to Break: 25/03/2024 614a Kingston Road AST Private 701 701 1-bed 20/10/2018 19/10/2021 £13,800 614b Kingston Road AST Private 403 403 Studio 31/12/2019 30/12/2021 £10,800 The property benefits from a terrace Sub Total 649 701 403 1,753 5.00 5.00 £40,600 616,618 - 620 Lease South London Church Fund 1,798 1,798 18/11/20 07 01/11/2017 0.00 0.00 £28,250 £15.71 Tenant currently holding over under Kingston Road (Diocese of ) the Landlord and Tenant Act 1954. ERV £48,000 per annum 616a Kingston Road AST Private 296 296 Studio 13/05/2019 12/05/2021 £9,720 616b Kingston Road AST Private 414 414 Studio 25/03/2021 24/03/2022 £10,740 616c Kingston Road AST Private 414 414 Studio 02/01/2021 01/01/2022 £10,620 The property benefits from a terrace Tenant is confirmed to be vacating. 618a Kingston Road AST Private 740 740 1-bed 07/01/2012 06/01/2022 £15,420 The property benefits from a terrace 618b Kingston Road AST Private 458 458 Studio 02/01/2021 01/01/2022 £10,740 Sub Total 1,798 1450 872 4,120 0.00 0.00 £85,490 620a Kingston Road Lease Dyno Pest 545 545 29/09/2019 28/09/2029 29/09/2024 8.54 8.54 £13,500 £24.77 620b Kingston Road AST Private 350 350 Studio 23/01/2016 22/01/2022 £11,94 0 The property benefits from a terrace 620c Kingston Road AST Private 440 440 Studio 01/06/2020 31/05/2021 £10,740 620d Kingston Road AST Private 346 346 Studio 10/03/2021 09/03/2022 £10,200 Sub Total 545 350 786 1,681 8.54 8.54 £46,380 Prince George’s Avenues Lease Mayors Office of Policing and Crime 1,694 1,694 31/01/2017 30/01/2022 0.87 0.87 £35,890 £21.18 Flat 2a Prince George’s AST Private 50 581 631 2-bed 05/03/2021 04/03/2022 £14,100 Avenue Flat 2c Prince George’s AST Private 50 581 631 2-bed 22/12/2018 21/12/2021 £15,300 Avenue Sub Total 1,794 1,162 2,956 0.87 0.87 £65,290 Total 9,156 7,438 5,021 21,615 4.49 4.06 £492,410 d Southfields R ld Rd e ston fi

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H h g i 2A, 2B & 2C PRINCE GEORGE’S AVENUE g u o h l P S 5 t 3 r 2 e B e d t Roa ap G RAYNES PARK d R ch Haydons ur LONDON, SW20 8DN h Road C d n W a o o m im R

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li d l o A2 C 19 WANDLE t NEARBY DEVELOPMENTS Morden Road S h PARK ig H d a Colliers

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m 1 h b R e e s 5 R L d 3 D ter a o d n NEARBY DEVELOPMENTS n r Rd e 2 Wimbledon s d e t Road a R 2.5 miles 4 ton Chase o gs R d A Kin n

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The subject site offers a number of potential redevelopment opportunities subject to 8 d e 29

R A o obtaining the necessary consents, as follows: a B d 2 B 7 28 9 6

South Phippes G M a Merton Bridge r r A. Potential for a pair of semi-detached C. Longer term conversion of ground floor BEVERLEY a tin MORDEN HALL New nd Wa Malden PARK y PARK

houses or small block of apartments commercial to residential to form 100% D r

i v CANNON HILL

e adjacent to No.1 Carlton Park Avenue, residential block surrounding a central garden. COMMON Belgrave Walk e in line with 6/8 Carlton Park Avenue v A

t D. Conversion of 2A, 2B, 2C to form a pair of n located directly opposite. o 1 m 3 5 e semi detached houses or extension into the r a l B. Extension into loft spaces to create roof to create larger flats on the upper parts. C larger apartments.

The subject property is located within the within the area. As part of the Plan, public London Borough of Merton and is not listed spaces will see a significant amount nor does it lie within a conservation area. of investment to improve the quality of Under the Local Plan, Raynes Park outdoor space and encourage place 2 4 6 has been identified as a high quality making. Furthermore, the Plan outlines suburban location which will undergo scope for increasing development within redevelopment to improve local the area and emphasises the importance infrastructure, the environment and of supporting local businesses as well as enhance pedestrian and cycle links securing transport improvements.

1 579-589 KINGSTON ROAD 3 SOUTHEY BOWLING CLUB 5 424 KINGSTON ROAD – – Under Construction 557 & 559 KINGSTON ROAD – Recently completed Completed The new 124 unit build to rent Redevelopment of site with erection of 9 x houses Redevelopment of existing office scheme featuring c. 13,000 sq (3 x 2-bed dwellings & 6 x 4- bed dwellings) with and industrial building to provide ft office space at ground level new shared pedestrian and vehicular access two x three-storey buildings for the and a central courtyard space from Kingston Road, erection of a new bowls club provision of 9 townhouses and 25 providing rich, green external building and associated facilities. apartments. amenity for residents. 4 641 KINGSTON ROAD – 6 RAINBOW INDUSTRIAL PARK 2 567-577 KINGSTON ROAD – Planning granted, work to commence 2021 Workspace Group are redeveloping Nearing Completion Redevelopment of the Railhouse public house to provide existing buildings to provide New building with church 9 new flats (6 x 1 bedroom and 3 x 2 bedrooms) directly 224 residential units, 3,449 sq m facilities on ground floor and an adjacent to the railway station. A three-storey extension of commercial space, 3,713 sq ft additional 18 residential units, will contain a new entrance foyer, stairwell and lift to of commercial space and car parking and associated reach the flats on the upper levels, including a new third associated basement parking for landscaping. Brimelow floor on top of the existing Victorian building. A new retail over 126 cars, cycle storage and McSweeney Architects. area will be located at the ground floor. external amenity space. d Southfields R ld Rd e ston fi

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B RAYNES PARK PARK Wimbledon

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a r fo tt Raynes Park is a very popular suburb with young professionals, not just h s u rd La s h C t n r R because of its excellent connections, but also the proximity to West A o e a e d n a London’s most popular destinations including Richmond and Kingston. L

H h g i Raynes Park has lived in the shadow of Wimbledon, but with more g u o h l P affordable prices and equally good amenities, it is becoming an S 5 t 3 r 2 increasingly popular choice to opt for this smaller neighbouring area e B e d t Roa ap G d in order to enjoy a quiet life on the edge of the city without the R ch Haydons summer hustle and bustle of Wimbledon. ur h Road C The thriving Residents’ Association of Raynes Park have been d n W a o o crucial for the improvement of the local area and building m im R

m b ra A o l e d a great community spirit in the last few decades. The

3 CANNIZARO C n Hill n A

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W B Wimbledon o r d d o d a o o o W 1 d n ’ 8 w s W a a 2 y R s y B ’ o r a e

li d l o A2 C 19 WANDLE t Morden Road S h COMMUNITY Richmond (28 mins) PARK ig H d M25 (36 mins) a Colliers

1 – the 140 year old woodland o 4 Wood

R 2

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Kingston (15 mins) A l conservation area reaching over 21 hectares is home p

or Dundonald W to a variety of wildlife and fishery. Road 5 3 2 Lantern Arts Centre – CommunityB arts centre hosting 2 igh Street 2 B n H 4 erto 8 A238 M 2 choirs, an amateur theatre3 group, various children’s A

B T 2 South r activities and a jazz club.a 8

C p Wimbledon

1 s 19 Merton h

D y r L Wa Park n i a u t s u ran RESTAURANTS & COFFEE SHOPS e t n A mbridge Rd r M ch a h B 4 e 23 C A2 a 2 u 8 C m 3 6 o 8 r Lime and Thyme Hashi o 5 c W

m h b R e e 6 s 16 R 4 Gaya Korean restaurant 7 The BGR L d 2 D ter a o d n n r Rd e 4 5 Wimbledon s d e t 5 8 20 Road a R Lantern Coffee House Starbucks ton Chase o gs R d A Kin n

8 to A 3 7 23 s 2 3 A g

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R hey Road 11 Raynes Park Residents Lawn Tennis Club us R B a

b d d

8 d e 29 12 David Lloyds R A o 12 a B

13 2 Prince George’s Playing Fields – Wanderersd Football Club 13 B 19 7 28 14 10 9 14 6 Joseph Hood Recreation Ground – Home of Merton FC South Phippes G M a Merton Bridge r r 15 Raynes Park Sports Ground BEVERLEY a tin MORDEN HALL New nd 9 Wa Malden PARK y PARK

16 Southey Bowling Club Dr

i 18 v CANNON HILL

e SHOPPING 11 COMMON Belgrave Walk e 17 20 Sainsbury’s v 1 A

t 18 21 B&Q 19 Next 21 n o

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C 602-620 KINGSTON ROAD & 2A, 2B & 2C PRINCE GEORGE’S AVENUE RAYNES PARK LONDON, SW20 8DN

INTERNALS

608b Kingston Road 606a Kingston Road 2c Prince George’s Avenue 610a Kingston Road

608b Kingston Road 2c Prince George’s Avenue

2c Prince George’s Avenue 610a Kingston Road

610a Kingston Road 608b Kingston Road

2c Prince George’s Avenue EPC EPCs are being commissioned and will be available upon request.

VAT The property is not elected for VAT.

ANTI-MONEY-LAUNDERING A successful bidder will be required to provide information to satisfy the AML requirements when Head of Terms are agreed.

DATAROOM For access to the Allsop dataroom please use the following link: https://datarooms.allsop.co.uk/register/raynespark

PROPOSAL We are instructed to seek offers in excess of £7,700,000 (Seven Million, Seven Hundred Thousand Pounds) subject to contract and exclusive of VAT. A purchase at this level reflects a low capital value of £356 psf and a Net Initial Yield of 6.00% and a Reversionary Yield of 6.41% after allowing for purchaser’s costs.

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

NATIONAL INVESTMENT Alex Butler Gergo Petrovics 07801 219 888 07961 234 029 [email protected] [email protected]

RESIDENTIAL INVESTMENT Michael Linane Antonia Beech 07970 807 011 07391 865 615 [email protected] [email protected]

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 04.21