Prime, fully let, mixed-use investment with strong sustainability credentials

330 Road Clapham SW9 9AP Offers are sought in excess of £14,500,000 (Fourteen investment Million, Five Hundred summary Thousand Pounds), reflecting an attractive net initial yield • Prime office and leisure investment opportunity in Clapham, an affluent suburb in of 6.22% and a low capital South West . value of £554 per sq ft • Prominently positioned on Clapham Road (A3), assuming purchasers costs of the main arterial route from The travelling south west to Surrey and Hampshire. 6.73%.

• Exceptional connectivity with quick access to Subject to Contract and exclusive of VAT the (Northern and Victoria lines), and services.

• Prime new build office comprising20,497 sq ft (1,904 sq m) over lower ground, ground and five upper floors held freehold.

• New build high spec gym unit comprising 5,653 sq ft (525 sq m) over lower ground and ground floor fronting the Clapham Road. The premises are held on a 999yr LLH, the rent payable under the lease is £300 per annum.

• BREEAM Excellent.

• Offices are let to Ingeus UK Ltd on a new FRI 10 year lease with a tenant break option at the end of years 5 and 6.5. The office renttotals £871,122.50 per annum, equating to £42.50 per sq ft and accounts for 90% of the contracted income.

• The gym unit is let to Venture Fitness Ltd t/a Jetts on a new FRI 15 year lease from August 2019. The gym rent totals £90,000 per annum, equating to £15.92 per sq ft.

• WAULT to expiry 10.29 years and 5.76 years to breaks.

• Total contracted rent of £962,555.50* per annum. *Net rent is inclusive of £1,733 received on the lower ground plant room and exclusive of £300 pay away on the gym unit. ‘Prominently positioned on Clapham Road (A3), the main arterial route from The City of London travelling south west to Surrey and Hampshire’

Clapham High Street Station Wandsworth Road Station Queenstown Road Station Nine Elms - Transformed, National Rail Services National Rail Services National Rail Services mixed-use area by 2025

Clapham North Underground Battersea Power Station Hyde Park Underground Northern Line Apple UK HQ Corner Victoria & Northern Lines

New Covent Garden Flower One Battersea Park Battersea Market - 3000 homes & US & Dutch Embassy Underground Studio Park Park 235,000 sq ft commercial Embassies Gardens & Overground location Clapham is an affluent and popular suburb in South West London, located within the London Borough of , South London. Vauxhall Located 3 miles south west of , 1. 2 miles west of and 2 miles Victoria & south east of Battersea, the area is within close proximity to the A3 and the South Circular (A205), providing access to the M25.

The area is extremely popular with students and young professionals, making Clapham one of London’s most vibrant, cultural and desirable areas. Wandsworth Road Overground Stockwell communications Northern & Victoria Connections at Luma are exceptional with the Victoria, both Northern lines, the Overground and National Rail within a 5 minute walk. The building is also situated on the CS7 cycle super highway, the 50, 88, 155 bus routes and benefits from two Santander cycle stands just metres away. 3 minute walk

Both Stockwell London Underground (Victoria and Northern Line) and Clapham North London Underground stations (Northern Line) are located Clapham just a short walk from the property. High Street 5 minute walk Overground Both the Victoria and Northern Lines connect London from North to South, providing regular services to the West End and the City of London. Clapham High Street London Overground provides regular direct access to Clapham Junction (the busiest rail interchange in Europe) and the wider London Overground network. Clapham North Northern Brixton Overground & Victoria The immediate area is also well provisioned by numerous bus routes.

London City International Airport is located 10 miles to the East Victoria 5 mins Brixton 2 mins Brixton 5 mins Heathrow International Airport Waterloo 8 mins Green Park 8 mins Vauxhall Station 6 mins is located 16 miles to the Wast London Bridge 9 mins Bank 11 mins Waterloo Station 15 mins Clapham Junction 12 mins West End 26 mins Gatwick International Airport is located 25 miles to the South Kings Cross 14 mins N L A N E I N G T O E N N 4 K A 3 2 0 Vauxhall A 3 2 1 2 G R O S V E D N O R R O A N P A R K R D . Vauxhall C O O O K ’ S The R A O Albany Rd 3 Kia Oval A 2 D 6 1 Vauxhall Park

Park

Q situation A3 KENNINGT T D E U E Battersea A R D A O R N W O T S N E E O T Power Station R Oval A 2 0 2 C A M B E R W E L L N E W R O A D S Luma is situated on the Clapham Road, K I N Burgees R K A S Park P U just a few minutes’ walk (0.3 miles) from A R A Battersea 2 E N Clapham High Street, home to a buzzing S 0 H R 3 O D J Park E 5 array of independent cafés, bars and T A T A A O B S 2restaurants. The High Street,B217 along with R

5 1 2 0 O 3 5 A H U

Clapham Old Town, makes up the heart T T

R H C

ofA Clapham’s leisure, retail and late-night O A D L R O M M W A Battersea A D H S N circuit.B The 200 acre Clapham Common, M AD Y

D O W E B N anotherR popular amenity destination for E

A W

T

W E H A 2 0 2 C A M B E R W E L L both residents and visitors is also located ROAD

L L L H A M R S A Battersea Park 6 R P V AS L to the South. The Common hosts various 3 O A 0 31 L R A 3 C O D music festivals and offers amenities such A D A A

D O D A 3 A R as sports pitches, hard courts and a N O A N E W R O A D

R I running track.

H L A T N S N O D O L W O Queenstown N E W A Y Brixton Village Market, home to the most Road Myatt’s vibrant restaurant scene in London, is Fields Larkhall Stockwell locatedCamberwell a 1 mile walk or a 15 minute E

Park N A 2 3 B R I X T underground journey from Luma. D 10

A L A O Stockwell LL R A 9 H J E K D R F A A F OWN Heathbrook O L R T R E Cafes & Restaurants Food markets Y Park T H S 17 R U 20 NS O N R D I 01 Mommi 18 Pop Brixton W A EE S O D N 2 U N Wandsworth M R O A D 0 3 E A R L N B 27 A 02 Red Dog Saloon 19 Brixton Market W O O L 2 Road A HA S T O C K R 2 6 D P U 6 Q U 3 E 5 4 0 A G O 03 Tsunami 1 L Groceries 3 B A AN C H S L M R 3 2 I L B A L L 16 3 O Be at One A A I H 04 20 Sainsbury’s Local V H A W K N D E R R LA E L LR O L R U O T O 05 Madeleine 21 Avocado Leaf U C H T G O E H 7 R W 1 06 No 32 Old Town 22 Little Waitrose N A 2 R E A D D 2 O A L A R K A 07 Gormet Burger Kitchen Entertainment O D A RO D 08 Fu Manchu Clapham Picture House 30 23 Clapham High Street ON E Loughborough R A D E C 6 1 2 3 A T N Ruskin 24 Junction 09 Costa Coffee 24 Brixton Academy 15 21 14 A Park L 3 Jack’s R 10 25 Ritzy Cinema Clapham North B R I X 12 U 3 O B Adventure Bar 11 2 R 11 26 Electric Brixton 2 18 A A H 6 1 T D E 8 O L 12 Cellar SW4 Clapham7 R E 13 Brixton C Fitness S T 23 S D A O R 5 H 13 The Falcon I G 26 28 27 Jetts Gym 22 H 4 A M 29 E H B N 14 The Landor P 19 L A W O O D R O A D 28 Fierce Grace Clapham A 2 E L R K 2 C C A L Common 1 7 I The Clapham North 2 2 1 15 29 Pure Gym 3 A A A Brixton M 3 L O N G R O A D B

E 16 The Phoenix 2 30 Hot Power Yoga A B D 25 2 L 2 2 F 2 L A R F F E 4 0 2 O D 17 Tito’s Peruvian O A 3 B 31 The Gym R R K H I R D P A R A 2 2 1 7 H A M C L A P A R I

O L

Clapham XTON T A O D R N Common BRI D A O R O A D A 2 3 1. Brixton Market – Food and drinks venues 2. Picturehouse – cinema 3. No. 32 The Old Town – bar and restaurant 4. Federation Coffee – café 5. The Blues Kitchen – live music, bar and restaurant 6. The Railway Tavern – pub 7. Adventure Bar – cocktail bar

1 2 3 4 5

6 7 8 9

10 11 12 13 14

8. MOMMI – Japanese x Latino Restaurant 9. Jacks – Coffee and gelato10. Fu Manchu – Sushi and cocktail bar 11. Cellar SW4 – Wine bar 12. a meal Larkhall Park – 500m from LUMA 13. Red Dog South – Brewery and BBQ shack 14. POP Brixton – market, food trucks and event venue description Luma, constructed as part of a mixed-use development, the office element of which occupies a prime position in the heart of Clapham, comprises 20,497 sq ft of brand new Grade A accommodation over lower ground, ground and five upper floors.

High quality open Metal Tiled plan floor plates suspended ceiling

VRF Full height 2 x 13 Air Conditioning glazed facades passenger lifts

WC’s on LED all floors Lighting

Full raised Shower and BREEAM ‘Excellent’ access flooring locker facilities / EPC C (53)

The leisure unit, with return frontage onto Jeffreys Road, comprises 5,653 sq ft and has been fitted out to the highest specificaton by Jetts. Facilities include punch bags, sled track and olympic lifting platforms. WC accommodation

Floor sq ft sq m

Lift Lift 5th 2,201 204.48 WC 4th 3,241 301.10 3rd 3,443 319.87 2nd 3,443 319.87 1st 3,461 321.54 Lift Lift Ground 2,459 228.44 Lower Ground 2,249 208.94 Total Office 20,497 1,904.23 Ground Leisure 3,049 283.26 Lower Ground Leisure 2,604 241.91 typical Total Leisure 5,653 525.18 floorplans Total 26,150 2,429.41 tenure The office premises comprise: (a) The freehold building 332-334 Clapham Road (edged red on the OS Map); and (b) The leasehold premises at lower ground floor beneath Cattermole Apartments, 1A Jeffreys Road which connect into the freehold offices at lower ground floor level. The leasehold offices are comprised in a lease dated 26 October 2018 granted for a term of 999 years at a peppercorn (falls within the area edged blue on the OS Map).

The retail premises (located at ground and lower ground floor) are comprised in a lease dated 26 October 2018 granted for a term of 999 years (falls within the area edged blue on the OS Map).

The rent payable under the lease of the retail premises is £300 per annum for the first 25 years of the term subject to increase by £300 every 25 years.

Further details on the extent of the LLH premises are available in the dataroom.

Not to scale, for indication purposes only. tenancy

Size Lease Lease Lease Rent Passing Rent Years Years Demise Tenant sq ft Start Break(s) Expiry Review Rent per sq ft Break Expiry Comment The lease is subject to 9 months rent free, the 16/06/2026 vendor will provide a top up of any outstanding rent Offices Ingeus UK Ltd 20,497 16/06/2021 15/06/2031 16/06/2026 £871,122.50 £42.50 5.0 10.0 (16/12/2027) free at completion. Inside the L&T Act 1954. Tenant only break options are subject to 12 months notice. Venture Fitness 5 yearly upward only RPI rent reviews, subject to a Gym 5,653 Ordnance12/08/2019 Survey Crown Copyright 2020.11/08/2034 All rights reserved.12/08/2024 £90,000 £15.92 13.2 13.2 t/a Jetts Licence number 100022432. collar of 2% and a cap of 4%. Plotted Scale - 1:1250. Paper Size – A4 Notting Hill Home Plant Room - 28/10/2018 27/10/3017 - £1,733 - 996.4 996.4 Subject to annual upwards only RPI rent reviews. Ownership Ltd Total 26,150 £962,555.50* 5.76 10.29

*Net rent accounts for £300 pay away on the gym unit. Plant Room excluded from WAULT calculation. covenants International APM Group Pty Ltd (Guarantor)

Ingeus UK Ltd The Ingeus UK Ltd lease is guaranteed by International APM Group Pty Ltd (IAPM) a leading global human services and health care organisation, Ingeus UK Ltd became part of the APM Founded in Australia in 1989, Ingeus operate in 9 countries across 4 continents. Ingeus Group in 2019. specialises in creating and delivering services in employment, health, justice and youth to create strong societies in which citizens have the independence, knowledge and know-how As of 30th June 2020, IAPM had a consolidated NAV of AUD$647m, revenue of AUD$814m and to thrive. Ingeus are commissioned by national, devolved and local government to support profit before tax of AUD$26m. efforts to build strong societies. Ingeus also work with commercial employers to support their workplace development and recruitment. Madison Dearborne Partners, a substantial American private equity group acquired a controlling stake in IAPM for AUD$1.6bn on 30th June 2020. Ingeus UK Ltd is fully supported Ingeus UK have recently won contracts with the Department for Work and Pensions to operate by the APM Global Group, financially or otherwise. 25 offices across London, The Midlands and The North West. Further financial analysis, including audited accounts, for both Ingeus UK Ltd and their guarantor, International APM Group Pty Ltd, are available on request. Consolidated Consolidated Consolidated 30/06/2020 30/06/2019 31/12/2018 In Thousands In Thousands In Thousands JETTS Tangible Net Worth (£28,236) (£14,172) £10,934 Venture Fitness Ltd t/a Jetts Sales / Turnover £95,815 £46,811 £118,317 (Company Registration Number 10803915)

Profit / (Loss) Before Taxes (£13,016) (£23,727) £1,729 Jetts was founded on the basis of offering gym members a greater freedom of choice – low fees, 24/7 access and access to all Jetts clubs. Jetts offer a Freedom Direct Debit Membership Recapitalised balance sheet in March 2021 by way of £35m share issue. and no lock-in contracts, emphasis is on providing the services that make members want to stay because they want to, not because they need to.

A global brand, Jetts Gyms can be found in Australia, New Zealand and the Netherlands. There are currently 10 Jetts Gyms operational across the UK. D O A D R E N A I L E 5 M 1 1 A E D G W A R E

R O Notting Hill A City of London D SOHO A 1 3 C O M M E Poplar Holborn R C I A L R O A D

£70 per sq ft City D

Ealing £70 per sq ft A O

White City R

A 1 2 0 3 T H E H I G H W A Y Mayfair E Midtown G D Hyde I Acton R Park B £70 per sq ft R E

W

O T

St James 0

A 3 0 Holland Park 1 Shepherd’s 3 2 0 A Park Bush Southwark D Waterloo A O R L £72 per sq ft L £72 per sq ft E occupational W M O R C E S T Westminster A 4 W Belgravia £75 per sq ft market Hammersmith Chiswick £58 per sq ft D R O A W E S T C R O M W E L L Vauxhall £55 per sq ft Pimlico V A U X H A L Isle of Dogs £55 per sq ft L B R I D G A Clapham as an office market does Vauxhall 2 E N E W C R A D O R R O S not have the critical mass of occupier E N O S S V R G R O O 1 2 A that other neighbouring office hubs A 3 2 D B Oval A A 2 T 0 Oval T Battersea 3 E

R have, but this is largely because of S S Battersea . E L £50 per sq ft A Park £55 per sq ft A Deptford M A B 2 Fulham B R 0 D E 2 underlying residential values for I A D O T C R H A G K M E R A R B P E R D R E A W D R S . E Peckham development sites rather than a lack . T E L B A T L 5 N 2 0 E W R A 3 O A D of occupier demand. D Wandsworth Stockwell Camberwell A

O Road S R A T O C K 3 S

2 R 2 A 0 W D E E Loughborough E L C L

L

Junction

LUMA is uniquely positioned between S 6 R P

O 1

E 2 A T Clapham

3 D

H A High St. Clapham the Clapham, Brixton and Stockwell R Battersea O North Brixton A transport hubs as well as being able D Clapham A 3 L O N G R O A D to benefit from their wealth of amenity Clapham Brixton Clapham Common Lewisham £45 per sq ft and diverse, skilled labour force. Richmond Common Herne Herne £50 per sq ft Hill East Putney Hill Dulwich Occupier demand during the Putney Clapham office leasing campaign came £55 per sq ft South Brockwell Putney Park from occupiers based in South Heath (Quoting) West London as well as the City of Dulwich London. LUMA’s office pitch is better connected than the other key SW Richmond Park London hubs in some ways in terms of access to the West End or City of London and also sits at a rental discount. Wimbledon, Richmond, Putney, Hammersmith and Chiswick all command rents in excess of £50.00psf for prime, Grade A space. Wimbledon Crystal Palace Wimbledon £55 per sq ft investment market The onset of Covid-19 inevitably slowed transaction volumes but recently there has been significant renewed appetite for the best buildings within , as both investors and occupiers focus on core property fundamentals. We expect that, if anything, Covid-19 will accelerate the flight to quality from occupiers, keen to give their employees the most attractive working environment possible.

Greater London continues to be a key investment destination for domestic and overseas capital due to its transparent and mature market, liquidity, excellent growth prospects and attractive yields compared to other asset classes.

comparables

Date Address Size (sq ft) Price Capital Value NIY Unexpired Term Tenant Buyer 1-3 Hammersmith The Department for Work & Under Offer 29,356 £18.50m £630 psf 6.00% 3.0 years Confidential Broadway, Hammersmith Pensions Evergreen Studios, Under Offer 17,072 £16.00m £937 psf 5.40% 5.0 years Sheen Lane Developments Confidential Richmond Connect House, Jun-21 20,575 £14.85m £722 psf 5.71% 4.7 years Multi-Let Columbia Threadneedle Wimbledon 10 Hammersmith Chelsea & Westminster Hospital Jun-21 7,433 £10.58m £1,423 psf 3.83% 9.5 years Assura Broadway, Hammersmith NHS Foundation

Apr-21 Parkshot, Richmond 13,153 £8.50m £623 psf 6.39% 1.9 years Multi-Let Ardstone Capital

25 Kew Foot Road, Mar-21 7,632 £7.75m £1,015 psf 4.56% 10.0 years The Secretary of State CEW Capital Richmond 145/155 King Street, London Borough of Mar-20 28,418 £18.75m £662 psf 5.00% 7.0 years London Borough of Hammersmith & Fulham Hammersmith Hammersmith & Fulham vat proposal further information The property is elected for VAT and we would expect Offers are sought in excess of£14,500,000 (Fourteen For further information or to arrange an inspection, please contact: the transaction to be treated as a Transfer of a Going Million, Five Hundred Thousand Pounds), reflecting an Concern. attractive net initial yield of 6.22% , and a low capital Freddie Owen Huw Gordon value of £554 per sq ft assuming purchasers costs of T: +44 20 7861 1225 T: +44 20 7861 1245 6.73%. Subject to contract and exclusive of VAT. M: +44 7436 109 666 M: +44 7412 669 494 capital allowances E: [email protected] E: [email protected] Website: www.luma-clapham.co.uk Further information available on request. Matterport: my.matterport.com/show/?m=LpdjGqiQxHm

Knight Frank LLP and give notice to anyone who may read these particulars as follows: IMPORTANT NOTICE (1) Particulars: These particulars are not an offer, an invitation or a contract, nor part of one. Any information about price or value contained in the particulars is provided purely as guidance, it does not constitute a formal valuation and should not be relied upon for any purpose. You should not rely on statements by Knight Frank in the particulars or by word of mouth or in writing (“information”) as being factually accurate about the property, its condition or its value. Knight Frank has no authority to make any representations about the property. No responsibility or liability is or will be accepted by Knight Frank LLP, seller(s) or lessor(s) in relation to the adequacy, accuracy, completeness or reasonableness of the information, notice or document supplied or otherwise made available to any interested party or its advisers in connection with the Proposed Transaction. All and any such responsibility and liability is expressly disclaimed. (2) Images: Photographs show only certain parts of the property as they appeared at the time they were taken. Areas, measurements and distances given are approximate only. (3) Regulations: Any reference to alterations to, or use of, any part of the property does not mean that any necessary planning, building regulations or other consent has been obtained. A buyer or lessee must find out by inspection or in other ways that these matters have been properly dealt with and that all information is correct. (4) VAT: The VAT position relating to the property may change without notice. (5) Financial Crime: In accordance with the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 and Proceeds of Crime Act 2002 Knight Frank LLP may be required to establish the identity and source of funds of all parties to property transactions.

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