PRIME FREEHOLD RETAIL INVESTMENT IN HIGHLY ATTRACTIVE WEST LONDON SUBURB
305 - 307 CHISWICK HIGH ROAD LONDON W4 305 - 307 CHISWICK HIGH ROAD LONDON W4
INVESTMENT CONSIDERATIONS • Prominent location on Chiswick High Road. • 4,620 sq ft ground floor retail unit. • Well secured to a quality retail tenant. • Residential above sold off on 999 year lease. • Close proximity to Chiswick Park Tube Station. CHISWICK Chiswick is a highly affluent West London suburb in the Borough of Hounslow approximately 6 miles west of Central London. Road communications are excellent with the A406/205 North & South Circulars within 1 mile together with access to the A4/M4. Stations nearby include Chiswick Park and Turnham Green Underground as well as Gunnersbury overground. Chiswick Park provides almost 1.8 million square feet of top quality office space with c 12,000 people employed there including HQ’s for companies including Paramount, Pepsico, Starbucks, CBS and Foxtons. There are many residential schemes being built close to the property including Opus Collection by Lendlease, the area remaining a hugely popular destination for young professionals and families.
RETAILING IN CHISWICK Chiswick High Road boasts a large number of both multiple and quality independent retailers as well as a wealth of restaurants and cafes. Sainsbury’s and Waitrose mix with Mint Velvet, White Stuff, Gap Kids, Waterstones and many others whilst quality restaurants include Michelin starred Hedone and La Trompette as well as numerous chains. LOCATION The property occupies a busy location on Chiswick High Road close to the junction with Acton Lane giving proximity to Chiswick Park Station. Hedone is adjacent whilst Sainsbury’s, HSBC, Halfords & Wickes are nearby.
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1. Halfords L U E D U E T AD A H AR R N P
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L D S FLANDERS RD N E W 2. Wickes T N
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L DOLMA L N RD N 7. Sainsbury’s CHISWICK 8 9 E 15 16 H 10 D A
IGH B 11 12 H ROA R IG C O H E AD SWICK I CHI R V 4 H AD 5 6 E O
RO I D IGH 13 S 8. Caffe Nero K H N 14 R A WIC W HIS N G C L L O I TURNHAM GREEN E C N H X
O K A S F 9. Starbucks T I V O L T T E E I U C A R S RA R R E N D LD T GUNNERSBURY FIE B E TH 10. Waitrose R HEA D D
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N K 11. Carluccios M E S D S Y RD D U 4 LLESLE D WE A R R K D V G E A 12. Robert Dyas T E D L D R R E E L D WELLESLEY RD U V E S I O O T OSVENO F N GR R RD C D 13. Zizzi H S R N T WAVENDON AVE H T A O S I R E E T 14. Byron H T E W
U T R A S D RE 15. Gap BARROWGATE RD G A4 16. Marks & Spencer A4 ELLESME RE ROAD A4 HOGARTH LANE DESCRIPTION The property is arranged on 3 floors. The ground floor comprises a single large showroom unit, the upper parts consist of 6 self contained flats accessed from the High Road.
ACCOMMODATION
Ground Floor Retail The showroom has the following approximate dimensions and floor areas:
Internal Width (front) 38 ft 0 ins Internal Width (rear) 48 ft 3 ins Shop Depth 101 ft 9 ins Built Depth 120 ft 0 ins Ground Floor Sales 4,620 sq ft Rear Store 112 sq ft Patio Area 785 sq ft ITZA 1,698 sq ft
Residential Upper Parts Self contained residential accommodation currently comprising 4x1 bed and 2x2 bed flats.
305 - 307 CHISWICK HIGH ROAD LONDON W4 TENURE EPC The property is held freehold. The retail unit has an EPC rating ‘B’, full details available on request. TENANCIES The retail store is let to Neptune Retail Ltd (name changed PROPOSAL from JGE Investments Ltd on 27 February 2015) with a rental We are seeking offers in excess of £2,200,000 (Two Million Two guarantee from Neptune (Europe) Ltd on a 10 year full repairing Hundred Thousand Pounds) subject to contract and exclusive and insuring lease from 13th October 2014 subject to 5 yearly of vat for our client’s freehold interest. A purchase at this price upwards only rent review at a current rent of £140,000 pax. would show an attractive net initial yield of c 6.0% assuming normal purchaser’s costs of 5.8%. The residential upper parts are let to James Taylor Homes (Chiswick) Ltd on a 999 year lease from 14 February 2013 at a peppercorn rent. CONTACTS For further details contact either Martin Crossley or COVENANT INFORMATION Saul Zulman at Metrus.
Neptune (Europe) Ltd 30 September 2014 Martin Crossley BSc (Hons) MRICS Turnover £26,436,043 Head of Retail Agency E [email protected] Pre Tax Profit £1,824,809 DD 020 7079 2499 Total Net Worth £4,014,481 M 07968 848812
Neptune Retail Ltd 30 September 2014 Saul Zulman Total Net Worth £546,721 Office, Retail & Investment Agency E [email protected] DD 020 7079 2500 RETAIL RENTAL VALUE M 07958 517519 We devalue the passing rent to approximately £30psf. The Subject To Contract adjacent property 319-327 Chiswick High Road has recently (August 2015) been let following a multiple bidding situation to Cotswold Outdoor at £135,000pax which we understand equates to nearly £33psf (interested parties should verify this accordingly).
VAT The property has been elected for VAT.
Important Notice: Metrus Property Advisors Limited for themselves and for the vendors or lessors of this property whose agents they are give notice that: (i) these particulars do not form any part of any offer or contract (ii) the statements contained herein are issued without responsibility on part of this firm, its employees or its clients and are statements of opinion and therefore are not to be taken as or implying a statement or representation of fact (iii) any intending purchaser or lessee must satisfy themselves as to the correctness of each of the statements made herein (iv) the vendors or lessors of this property do not make or give, and neither the firm nor any of its employees have any authority to make or give, any representation or warranty whatever in relation to this property (v) all rents and prices quoted are exclusive of VAT unless stated otherwise. Any intending purchasers or lessees must satisfy themselves independently as to the incidence of VAT in any transactions. Terms quoted are subject to contract. September 2015. Designed and produced by Creativeworld. T: 01282 858200.