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301-321(Excluding 319) New Cross Road, SE14 6AS

VIRTUAL FREEHOLD RETAIL PARADE INVESTMENT OPPORTUNITY 321

301-321 (Excluding 319) New Cross Road, London SE14 6AS

301-317

INVESTMENT CONSIDERATIONS n Prominent parade of 10 lock-up shop units totalling 11,672 sq ft n An attractive AWULT of 15.3 years to expiry n Located in the densely populated London suburb of New Cross n Strong breakup value (London Travelcard Zone 2) n Offers sought in excess of £2,000,000 (Two Million Pounds) n Situated opposite Goldsmith University, the former subject to contract and exclusive of VAT. A purchase at this level Town Hall and adjacent to New Cross Railway Station would reflect a net initial yield of 8.13% after costs of 6.28%, a low n Current passing rent of £172,800 p.a. with an ERV of £190,800 p.a. capital value of approximately £171 psf and a reversionary yield of 9%. (Excluding 319) 301-321 New Cross Road, London SE14 6AS

HIGHBURY

WEST UPTON

BRONDESBURY HACKNEY WICK PRIMROSE HILL GREEN DE BEAUVOIR HACKNEY KILBURN TOWN UPTON PARK ST JOHN’S WOOD

KINGS CROSS KENSAL NEW CROSS GREEN BOW PLAISTOW New Cross is a densely populated London suburb located 4 miles GLOBE TOWN MILE END (6.4 km) south east of in the London Borough of KENSAL TOWN . The suburb is well positioned between the affluent and SPITALFIELDS historic Royal Borough of to the east and the popular NORTH KENSINGTON London Borough of to the west. Goldsmiths University is located on and south of New Cross Road and benefits from a COVENT BAYSWATER GARDEN LIMEHOUSE strong student population of circa 8,000. The district also benefits from excellent transport links. POPLAR SHADWELL SOUTH BANK DOCKLANDS BOROUGH SHEPHERD’S BUSH ST JAMES’S SOUTHWARK New Cross is served by both New Cross Gate and New Cross train stations which both fall within London SILVERTOWN Travelcard Zone 2. New Cross railway station operates GREENWICH KENSINGTON PENINSULA a number of London based services on the East LondonHAMMERSMITH Line with further Southeastern services to mid-. WEST KENSINGTON QUAYS New Cross Gate railway station provides London CHARLTON EARL’S COURT Overground services as well as national Southern rail services on the Brighton Main Line. The Borough also CHELSEA DEPTFORD benefits from the Docklands Light Railway. BARNES GREENWICH CHELSEA New Cross benefits from excellent road communications HARBOUR being situated on the A2 and the A20, two of the major NEW CROSS arterial routes through south London. Both the A2 and A20 STOCKWELL KIDBROOKE provide direct access to the M25 which is approximately 13 miles (21 km) to the south east. The suburb is also in close proximity to the South Circular Road (A205) located BLACKHEATH approximately 2 miles (3.2 km) to the south. TOWN DEMOGRAPHICS EAST LEWISHAM PARK Numerous bus routes pass through New Cross Road The Borough of Lewisham is an established retail and commercial centre with a total population within the primary catchment area of 392,000 and a shopping population of 132,000. Within the borough the providing regular services across London. WEST HILL RICHMOND suburb New Cross has an approximateDULWICH population of 15,756 (2011 census) and benefits from a young EARLSFIELD SOUTHFIELDS population with a median age of 30 years old. The Borough is projected to see significantly above

New Cross benefits from a regular train service to average growth in population over the period 2017-21,FOREST HILL with the majority of this growth coming from London Gatwick Airport with a fastest journey time STREATHAMadults HILL of working age. As a result of the younger population, Lewisham has an above average number of approximately 47 minutes when travelling via East of adults in rented accommodation. Station. New Cross

301-321 (Excluding 319)

New Cross Road, London SE14 6AS New Cross

SEAFOOD AND BUTCHERS

NEW CROSS SUPERMARKET RAIL STATION

EXOTIC

BITES

STREET FOOD NEW CROSS GATE

RETAIL PARK BEIRUT

SEAFOOD AND BUTCHERS

NIGHTCLUB SUPERMARKET

EXOTIC

BITES

STREET FOOD

BEIRUT

SITUATION NEW CROSS GATE The property is situated on the northern side of New RAIL STATION Cross Road between its junctions with Goodwood Road and Clifton Rise. The road comprises a variety

of A1 retail, educational establishments, restaurants, STATION takeaways and residential/student accommodation. New Cross Road benefits from a high footfall being n Sold off on 999 year leases situated immediately opposite Goldsmiths University UNIVERSITY OF LONDON campus and moments from New Cross Gate Railway CAMPUS Station. Situated some 500 metres to the west is New Cross Gate Retail Park with occupiers including a 66,000 © Crown Copyright, ES 100004106. For identification purposes only. sq ft Sainsbury’s superstore, TK Maxx and Dreams Bed Store. Additional occupiers located in the immediate Experian Goad Plan Created: 09/11/2016 area include The Venue Nightclub, Costa Coffee, Iceland, 50 metres Londis, Subway and William Hill. Created By: Allsop Copyright and confidentiality Experian, 2016. © Crown copyright and database For more information on our products and services: rights 2016. OS 100019885 www.experian.co.uk/goad | [email protected] | 0845 601 6011 DESCRIPTION The property comprises a retail parade of 10 lock-up shop units totalling 11,672 sq ft arranged over ground and part basement. Included in the sale are a further 6 shops at 289-299 New Cross Road which have been sold off on 999 year leases at a peppercorn rent and 6 flats above 311 New Cross Road which have been sold off on 125 year leases producing a ground rent of £1,050 pa.

TENURE Long leasehold from 25/03/91 for 999 years.

Experian Goad Plan Created: 09/11/2016 50 metres Created By: Allsop Copyright and confidentiality Experian, 2016. © Crown copyright and database For more information on our products and services: rights 2016. OS 100019885 www.experian.co.uk/goad | [email protected] | 0845 601 6011 (Excluding 319) 301-321 New Cross Road, London SE14 6AS

TENANCY SCHEDULE

Unit Tenant Floor NIA Lease Rent Lease Passing Rent ERV Comments (sq ft) Start Review Expiry p.a. p.a.

Rabah Lamari Ground 662 301 New Cross Road 31/01/2014 31/01/2019 30/01/2026 £12,000 £19,000 t/a Zino Basement 471 Nader Said Nassirzadeh Ground 735 303 New Cross Road 19/07/2016 19/07/2021 18/07/2036 £19,250 £19,250 t/a Beirut Lebanese Street Food Basement 412 Ground 759 305 New Cross Road Mankind Estate Agent Ltd 25/03/2011 25/03/2021 24/03/2026 £18,000 £19,250 Basement 454 Mustafa Koc Ground 864 307 New Cross Road 25/06/2010 25/06/2020 24/06/2025 £14,000 £19,250 t/a Ottoman BBQ Restaurant Basement 477 Gulcihan Gorur Ground 888 309 New Cross Road 03/01/2017 02/01/2022 02/01/2032 £18,000 £19,250 t/a GSM Supermarket Basement 755 Christopher Roberts Ground 675 311 New Cross Road 24/11/2016 24/11/2021 23/11/2031 £18,000 £19,000 In occupation since 23/11/2001 t/a ADA Solicitors Basement 457 Habeeb Lawal Ground 495 313 New Cross Road 18/11/2016 17/11/2021 17/11/2036 £18,000 £18,500 t/a Exotic bites Basement 467 Khairul Hoque Ground 748 315 New Cross Road 10/06/2016 10/06/2021 09/06/2031 £18,500 £19,250 In occupation since 20/09/1994 t/a Nouvelle Spice Basement 461 Umar Shehzad Malhi Ground 513 317 New Cross Road 03/08/2016 01/09/2021 31/08/2046 £18,000 £18,500 Tenant only break in 31/08/2026 t/a New Cross Food Market Basement 464 Mohammed Harees Samaradeen Ground 545 321 New Cross Road 17/06/2016 17/06/2021 16/06/2046 £18,000 £18,500 t/a Chacha Butchers & Sea Food Basement 370

289-299 New Cross Gate 6 shops sold off on 999 year leases 25/03/1991 24/03/2990 Peppercorn

6 residential flats sold off 311a New Cross Road 17/02/2006 16/02/2131 £1,050 £1,050 on 125 year leases

Total 11,672 £172,800 £190,800

Please note that all the units are let on FR&I leases apart from 307 which is a IR&I Lease. *Measurements are approximate and provided by the vendor. VAT EPC DATAROOM For further information or to make arrangements for viewing please contact: The property is not EPCs available For access to the Allsop Dataroom please use the following link: https://datarooms.allsop.co.uk/register/NewCrossRoad where legal elected for VAT. on request. documentation can be accessed including leases, up to date searches, rental statements, title plans, lease plans and insurance documents.

Liam Stray 020 7543 6769 PROPOSAL [email protected] Offers sought in excess of £2,000,000 (Two Million Pounds) subject to contract and exclusive of VAT. A purchase at this level would reflect a net initial yield of 8.13% after costs of 6.28%, a low capital Alex Butler 020 7543 6722 value of approximately £171 psf and a reversionary yield of 9%. [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: Command D www.commandHQ.co.uk 01.17