143-147 SHENLEY ROAD BOREHAMWOOD GREATER LONDON WD6 1AH PRIME MIXED-USE INVESTMENT OPPORTUNITY INVESTMENT SUMMARY • Situated in the heart of Borehamwood’s main retail thoroughfare. • Eight residential flats arranged over first and second floors, all of which are fully income producing let on AST agreements. • Prime mixed use building providing 7,853 sq ft (729.55 sq m) of commercial and residential accommodation. • Currently producing a total rent of £140,600 per annum. • Freehold. • Offers are invited in excess of £2,400,000, subject to contract and exclusive of VAT. This reflects a 7.50% NIY on the commercial and • A recently refurbished ground floor restaurant let on a new 15 year £345 per sq ft capital value on the residential (assuming standard FRI lease from April 2018. purchaser’s costs). 143-147 Shenley Road, Borehamwood, Greater London WD6 1AH LOCATION Borehamwood is an affluent Hertfordshire town located in the district of Hertsmere, c. 11 miles north-west of Central London, a strategic inner M25 location. The town benefits from exceptional connectivity with the D A O S T national motorway network, rail links and international airports being in close proximity. R A N N O B T O E ROU The subject property is situated approximately 0.3 miles from Elstree & Borehamwood train station, which L C P O provides regular direct services to King’s Cross St Pancras International (19 mins), Farringdon (30 mins), London A T G W S H L Blackfriars (35 mins) and London Bridge (59 mins). A E V Y E H I D N L R D U ON A L RT O E LE R AL FE SITUATION IF CL Y RD NE A A EAD LA L H S E L ES R X The subject property is situated on the northern side of Borehamwood’s main shopping thoroughfare along E T E A E GA T N M T D Shenley Road, equidistant between a Tesco Extra to the east and Borehamwood Shopping Park to the Owest. D O HA R R A IN P N M A G O R A R G D E N E D W D The property is conveniently set back from Shenley Road on an access road providing loading and customer A H F R A F R A I O D Y L L O parking. The world famous Elstree Film Studios are some 300 yards to the east of the property. Other nearby L T C R D W R H Y A A E D E O L occupiers on Shenley Road include; Iceland, Subway, Greggs, BathStore and Lloyds Bank. O V R E B E Y O A D L L R R A D G O S F T T R B R E RO A Y Luton E A T O H D (21 miles) K A W R O O R O A I D Y D E U L T N S St Albans E H S D A O R ELST D SUBJECT PROPERTY REE EL WA FI Y AT R T T H S E D Elstree Studios O A B RO M BOREHAMWOOD A Y A L Borehamwood E L N D N O Shopping Park E S H R T S R E E T W A Y F U Hendon R ZE HI LL R NE O R A A D L Elstree & D DEL M ARUN DRIVE L LU Borehamwood A L R A A E V O Rail Station S Y A M O A R N W L L O A E S S I B M N FU E N R N E Z A T EH R IL C L E R RIV O D A EY D HL AS Y RRI A A E W F R S 143-147 Shenley Road, Borehamwood, Greater London WD6 1AH Drawn 20130928 Contains Ordnance Survey data © Crown copyright and database right 2013 823 ENT CREAMS GELATO 143-147 Shenley Road, Borehamwood, Greater London WD6 1AH DESCRIPTION COVENANT The subject property provides a recently refurbished ground floor restaurant totalling 3,288 sq ft (305.46 sq m) Creams Gelato Co. with residential accommodation on the first and second floors totalling 4,565 sq ft (424.05 sq m). Creams Cafès have been operating since 2008 with the first UK franchise taking 2 years of meticulous research and planning until it was finally established. The franchise is a unique and independent food brand. They aim The residential element comprises of 8 apartments (4 x 2 bed apartments and 4 x 1 bed apartments) all have to present a 1950’s retro Americana genre whilst boasting a black and purple colour scheme alongside with the benefit of central heating. Access to the residential accommodation is from a shared entrance on Shenley distinctive lighting which adds a trendy, unique looking design and feel. There are currently 24 Creams stores Road. in Central London including Kilburn, Wembley, Stratford, Hounslow, Ilford and Brixton. www.creamscafe.com Zoomex Limited TENURE Zoomex Limited was established in 2012 and currently has a D&B rating of 1A2 which represents a “lower than average risk” of business failure. www.zoomex.co.uk. Summary accounts for the last 3 years are set out below:- Freehold. TENANCY Zoomex Limited 31/03/2018 31/03/2017 31/03/2016 Net Worth £707,391 £788,450 £230,251 The property is let in accordance with the following tenancy schedule, producing a current rental income of £140,600 per annum. Net Current Assets (Liabilities) £624,838 £659,860 £95,015 The commercial unit is let on an effective full repairing and insuring (FRI) terms and the residential units are let on Assured Shorthold Tenancies. TENANCY SCHEDULE Address Floor Tenant Area Sq M Area Sq Ft Lease Start Expiry Date (Break) Next Review Current Rent PA Comments S.I.A. Developments Limited 08/04/2033 09/04/2023 Unit A Ground with guarantee from Zoomex 305.50 3,288 09/04/2018 £65,000 The tenant has subdivided the unit. (08/04/2028) 5 yearly Limited (t/a Creams Gelato Co.) Assured Shorthold Tenancy. 143A First (Front) Individual 74.69 804 TBC TBC - £10,200 2 bedroom apartment. Assured Shorthold Tenancy. 143B Second (Front) Individual 36.70 395 TBC TBC - £8,400 1 bedroom apartment. Assured Shorthold Tenancy. 145A First (Front) Individual 42.26 455 TBC TBC - £8,400 1 bedroom apartment. Assured Shorthold Tenancy. 145B Second (Front) Individual 66.01 711 TBC TBC - £10,200 2 bedroom apartment. Assured Shorthold Tenancy. 147A First (Middle) Individual 43.17 465 TBC TBC - £10,200 2 bedroom apartment. Assured Shorthold Tenancy. 147B Second (Rear) Individual 72.32 778 TBC TBC - £10,200 2 bedroom apartment. Assured Shorthold Tenancy. 147C First (Rear) Individual 48.01 517 TBC TBC - £9,000 1 bedroom apartment. Assured Shorthold Tenancy. 147D Second (Rear) Individual 40.89 440 TBC TBC - £9,000 1 bedroom apartment. Total 729.55 7,853 £140,600 143-147 Shenley Road, Borehamwood, Greater London WD6 1AH 143-147 Shenley Road, Borehamwood, Greater London WD6 1AH EPC EPC’s available upon request. VAT The property has been elected for VAT and it is envisaged that the transaction will be treated as a Transfer of a Going Concern (TOGC). PROPOSAL Offers are invited in excess of £2,400,000, subject to contract and exclusive of VAT. This reflects a 7.50% NIY on the commercial and £345 per sq ft capital value on the residential (assuming standard purchaser’s costs). FURTHER INFORMATION Should you require further information or wish to view the property please contact either:- 3-5 Barrett Street St Christopher’s Place STEVEN POLLACK JONATHAN SKERRY London W1U 1AY T: 020 7042 6002 T: 020 7042 6004 M: 07530 424 019 M: 07736 300 594 020 7042 6000 E: [email protected] E: [email protected] www.buchananbond.com Misrepresentation Act 1967 & Declaration Buchanan Bond Real Estate Ltd, for themselves and for the vendors of this property whose agents they are, give notice that: i) The particulars are set out as a general outline only for the guidance of intending purchasers, and do not constitute, nor constitute part of, an offer or contract. ii) All descriptions, dimensions, references to condition and necessary permission for use and occupation and other details are given in good faith and are believed to be correct, but any intending purchasers should not rely on them as statements or representations of fact and must satisfy themselves by inspection or otherwise as to the correctness of each of them. iii) No person in the employment of Buchanan Bond Real Estate Ltd has any authority to make or give any representation or warranty in relation to this property. JUNE 2019..