Starbucks Clapham Junction 37-39 St John’S Road, S W11 1Q N

✪ STARBUCKS CLAPHAM JUNCTION 37-39 ST JOHN’S ROAD, S W11 1Q N

RETAIL COFFEE SHOP INVESTMENT WITH SIGNIFICANT RESIDENTIAL DEVELOPMENT POTENTIAL ✪ STARBUCKS CLAPHAM JUNCTION CLAPHAM COMMON 37-39 ST JOHN’S ROAD SW11 1Q N

A306

BATTERSEA POST OFFICE BATTERSEA LIBRARY

ST JOHN’S ROAD

CLAPHAM GRAND

CLAPHAM JUNCTION

A306 ✪ STARBUCKS CLAPHAM JUNCTION 37-39 ST JOHN’S ROAD SW11 1Q N

INVESTMENT CONSIDERATIONS ✪ Located within the affluent and popular suburb of Clapham Junction ✪ The property is situated in the 100% prime pitch on St John’s Road ✪ Currently let to the 5A1 covenant of Starbucks who wish to renew for a term of ten years ✪ Freehold ✪ Current passing rent of £126,850 pa reflecting a below market Zone A rent of £122 psf ✪ After reconfiguration of the ground floor the ERV increases to £189,000 pa based on a Zone A rent of £185 psf

DEVELOPMENT POTENTIAL (subject to gaining all the necessary consents) ✪ Conversion of the first and second floors to residential use ✪ The comprehensive redevelopment of the site, including an increase in the height and density of the development We are instructed to seek offers in excess of £4,250,000 (Four Million Two Hundred and Fifty Thousand Pounds), subject to contract and exclusive of VAT. A505 Stevenage Dunstable Stansted Luton Luton Bishopʼs A120 A418 Knebworth Stortford A5 A10 A1(M) A602 A44 M1 A131 A130 A34 Aylesbury Welwyn Garden City A40 Hertford A414 M11 Harlow OXFORDOXFORD A41 Harlow A12 Hemel✪ St Albans A4142 Thame Hempstead M10 A414 Chelmsford A138 M40 STARBUCKS RETAIL COFFEE SHOP INVESTMENT A420 CLAPHAM JUNCTIONJ21 A414 A404 Potters Bar Chipping WITH SIGNIFICANT RESIDENTIAL A4010 Chesham 37-39 ST JOHN’SJ20 ROAD Epping DEVELOPMENT POTENTIAL J23 Ongar SW11 J191Q N J25 Borehamwood M25 J27

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R d s a t o d e d a oa r R d te R lga She A339 o a A22 d J9 J5 M26 M20 Famborough M25 Sevenoaks Maidstone J7 J6 A34 BASINGSTOKEBASINGSTOKE J8 Oxted Aldershot M3 GUILDFORD Reigate A26 GUILDFORD Dorking A21 Famham Famham A24 Tonbridge A303 Godalming M23 LOCATION Horley Staplehurst Gatwick Staplehurst Alton Witley Clapham Junction is located in the south west Royal Cranleigh A264 Tonbridge A229 London Borough of Wandsworth, one of the RAIL Tonbridge CAR BUS AIR A31 Crawley Three Bridges Wells most affluent and popular areas of SouthThree Bridges Wells A264 Clapham Junction is one of Europe’s Clapham Junction benefits from excellent Numerous bus routes pass through Clapham Junction benefits from London. The district is situated approximately busiest train stations with an estimated road communications being situated in St John’s Hill, St John’s Road and a regular train service to London 2,000 trains and 500,000 passengers close proximity to both the South Circular Lavender Hill providing regular Gatwick Airport approximately every 4 miles (6.4 km) Horshamsouth west of Central London, passing through each day. It serves as an Road (A205) and the A3, which is the major services into Central London. 5-10 minutes (peak times) with a intersection for regular trains to London arterial route through south west London. fastest journey time of 25 minutes. nearby suburbs include Westminster, Chelsea Waterloo, London Victoria and Vauxhall The A3 provides direct access to the M25 and Earlsfield. Clapham Junction benefits providing easy access across London as which is approximately (19 miles) 32 km to A23 Haywards well as the south east and south west of the south west. from excellent transport links. Heath England. The station underwent major refurbishment in 2012 to accommodate Burgess Hill the continuing increase in demand. Clapham Junction

✪ RETAIL COFFEE SHOP INVESTMENT STARBUCKS WITH SIGNIFICANT RESIDENTIAL CLAPHAM JUNCTION DEVELOPMENT POTENTIAL 37-39 ST JOHN’S ROAD SW11 1Q N

CLAPHAM JUNCTION STATION

SITUATION

The property is situated in the heart of Clapham Junction’s retail thoroughfare occupying a 100% prime pitch. The property benefits from frontages onto St John’s Road and Beauchamp Road. The property is located opposite Waitrose Supermarket and adjacent to F Hinds Jewellers with a number of national multiples in close proximity including O2, TK Maxx, Superdrug, Santander, Specsavers and Boots. Clapham Junction railway station is located a short 5 minute walk north west of the property.

DESCRIPTION

The property comprises a prominent 3 storey end-of-terrace corner building arranged over ground, first and second floors. The ground floor consists of a Starbucks coffee shop with the upper floors providing ancillary accommodation. The tenant currently uses only the ground and part of the first floor whilst the entirety of the second floor is not in use. There is a small courtyard to the rear of the building which provides rear external access to the first floor via Beauchamp Road.

ACCOMMODATION TENURE

Freehold Floor NIA (Sq m) NIA (Sq Ft)

Ground Floor 96.95 1,044 (ITZA) (88.12) (948.5)

First Floor 92.77 999

Second Floor 79.93 860

Total 269.65 2,903

Experian Goad Plan Created: 30/08/2016 50 metres Created By: Allsop

Copyright and confidentiality Experian, 2016. © Crown For more information on our products and services: copyright and database rights 2016. OS 100019885 www.experian.co.uk/goad | [email protected] | 0845 601 6011 ✪ STARBUCKS RETAIL COFFEE SHOP INVESTMENT CLAPHAM JUNCTION WITH SIGNIFICANT RESIDENTIAL 37-39 ST JOHN’S ROAD DEVELOPMENT POTENTIAL SW11 1Q N

DEMOGRAPHICS

Clapham Junction has a primary catchment area of 102,000 with an estimated shopping population of 41,000. The area is projected to see an above average growth in population over the period 2015-20. Clapham Junction benefits from a significantly high proportion of adults aged 25-44 with an above average proportion falling within the most affluent AB and C1 social groups. As a result of the younger population Clapham Junction has an above average number of adults in private rented accommodation.

RETAILING IN CLAPHAM JUNCTION

Clapham Junction is an established retailing destination with excellent communications creating a desirable location for people to live, socialise and shop. There is a wide selection of shops, bars and restaurants benefiting from a high pedestrian footfall and captive population resulting in an in-store comparison retail expenditure of £273 million in 2015.

Clapham Junction’s young and affluent catchment population, which traditionally benefit from an increased disposable income, have a higher per capita in-store comparison expenditure when compared to other trading locations within south west London.

TENANCY

The entire property is let to Starbucks Coffee Company (UK) Ltd on a full repairing and insuring lease for a term of 25 years from 23rd April 1991 expiring 22nd April 2016 at a current rent of £126,850 pa.

The tenant is currently holding over but they have expressed a desire for a new ten year lease on similar terms. Due to the underlying residential development value to the upper floors the vendor has decided not to renew the lease at this time and will leave this to the discretion of the purchaser. Correspondences to this point can be provided on request.

COVENANT INFORMATION

Starbucks is an American coffee company and coffeehouse chain founded in Seattle, Washington in 1971. Today it is the largest coffee house in the world with 23,768 locations worldwide and over 880 stores in the UK. The business has produced the following headline accounts over the last 3 years:

27 Sep 2015 28 Sep 2014 29 Sep 2013

Turnover £405,641,634 £408,721,070 £399,405,183

Pre-Tax Profit £34,216,739 £1,056,196 (£20,465,123)

Total Net Worth £57,705,649 £35,513,082 £43,838,060 ✪ I l RETAIL COFFEE SHOP INVESTMENT STARBUCKSm CLAPHAM JUNCTIONi WITH SIGNIFICANT RESIDENTIAL n DEVELOPMENT POTENTIAL 37-39 ST JOHN’Ss ROAD SW11 1Q N t e

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0m 5m 10m 15m 52 DEVELOPMENT POTENTIAL Retail Subject to obtaining the necessary planning consents the property provides a number of potential development opportunities including:

✪ Conversion of the first and second floors to residential use. residential use. Furthermore, there is the potential to progress a comprehensive redevelopment of the Site, including ✪ The comprehensive redevelopment of the site, including an increase in the height and density of development. an increase in the height and density of the development. The Vendor has commissioned indicative floor plans In order to establish the development potential, the outlining the reconfiguration of the ground, first and Vendor has commissioned a planning report which provides second floors which are available in the dataroom. a comprehensive review of the development potential of the Residential values in the Clapham Junction area are existing building and redevelopment and extension potential. currently achieving approximately £1,000psf. The report concludes that in planning terms there is the Full copies of the planning report and subsequent floor potential to progress a conversion through an application plans are available upon request or via the Dataroom: for the change of use of the first and second floors to a http://datarooms.allsop.co.uk/register/STARBUCKSCJ VAT EPC DATAROOM

The property is elected for VAT A copy of the EPC is available Further information is provided in and we would expect the transaction in the dataroom. the dataroom. For access please to be treated as a Transfer of register on the following website: a Going Concern (TOGC). http://datarooms.allsop.co.uk/ register/STARBUCKSCJ ✪ PROPOSAL We are instructed to seek offers in excess of £4,250,000 (Four Million Two Hundred and Fifty Thousand Pounds), subject to contract and exclusive of VAT.

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

Lottie Hayward Liam Stray 020 7543 6750 020 7543 6769 [email protected] [email protected]

www.allsop.co.uk

Receiver Caveat: This property is being marketed for sale on behalf of Joint Fixed Charge Receivers and therefore no warranties or guarantees in any respect, including VAT, can be given. The information in these particulars has been provided by the Joint Fixed Charge Receivers to the best of their knowledge, but the purchaser must rely solely on their own enquiries. The Fixed Charge Receivers are not bound to accept the highest or any offer and are acting in respect of the sale without personal liability.

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 10.16