PARSONS GREEN LANE 6O/7O LONDON SW6 4HU PRIME FREEHOLD SUPERMARKET & RESTAURANT INVESTMENT OPPORTUNITY 6O/7O PARSONS GREEN LANE LONDON SW6 4HU 6O/7O PRIME FREEHOLD SUPERMARKET & PARSONS GREEN LANE RESTAURANT INVESTMENT OPPORTUNITY LONDON SW6 4HU 6O/7O INVESTMENT CONSIDERATIONS Prime freehold supermarket and restaurant located in one of London’s most affluent boroughs Located approximately 50m south of Parsons Green Underground Station Attractive building with impressive street frontages comprising approximately 8,432 sq ft let to the Co-Operative Group Ltd and Le Pain Quotidien Ltd AWULT of approximately 12.9 years Approximately 53% of the income is secured to the Co-operative Group Ltd which benefits from RPI linked reviews for a further 17.5 years Current passing rent is £255,001 Freehold The most recent investment sale close by, let to Cote Restaurants Ltd, sold in April 2016 for a price reflecting 3.2% net initial yield Offers are sought in excess of £5,300,000 (Five Million Three Hundred Thousand Pounds) subject to contract and exclusive of VAT. This reflects a net initial yield of 4.5% after allowing for purchasers costs of 6.6%. 6O/7O IMPERIAL WHARF WANDSWORTH EEL BROOK FULHAM PUTNEY ROUNDABOUT COMMON BROADWAY BRIDGE CHELSEA UNDERGROUND HURLINGHAM PARSONS GREEN UNDERGROUND FOOTBALL CLUB STATION PARK UNDERGROUND STATION STATION 6O/7O PRIME FREEHOLD SUPERMARKET & PARSONS GREEN LANE RESTAURANT INVESTMENT OPPORTUNITY LONDON SW6 4HU LOCATION Parsons Green is located in the London Borough of Hammersmith and Fulham, in South West London, and is one the most affluent areas within London. The area is centred at Parsons Green with Fulham Road A10 and New Kings Road to the north and south respectively STRATFORD providing access to Fulham to the north east and Putney to the south west. A501 Parsons Green is vibrant and popular with young Western Avenue REGENTS A406 professionals with its varied supply of bars, restaurants, PARK KINGS CROSS 5 cafes and shops. 2 A12 M The area is serviced well by public transport with Parsons A11 Green Underground Station, located in Zone 2, providing Westway access to Victoria, via the District Line with a fastest journey Westway GT PORTLAND ST A13 Thetime ofParkway 23 minutes. Regular bus services run from both Fulham Road and New Kings Road providing access to A40 CENTRAL LONDON LIVERPOOL ST PADDINGTON Central London in approximately 40 minutes. LONDON The A4 is located approximately 1.5 miles to the north of BLACKFRIARS Parsons Green and provides access to the M4 (Junction 1) CITY AIRPORT approximately 3.5 miles to the west and access to Central HYDE PARK PICCADILLY CIRCUS London approximately 2 miles to the east. SHEPHERD’S BUSH GREEN PARK Heathrow Airport is situated approximately 12 miles to the LONDON BRIDGE west and is the busiest airport in the United Kingdom and KNIGHTSBRIDGE WESTMINSTER Europe serving approximately 75 million passengers in 2015. A4 CHISWICK M4 COMMON HAMMERSMITH SITUATION VICTORIA M 4 A4 The property is situated on the western side of Parsons Green Lane immediately north of its junction with Ackmar Road HAMMERSMITH and Dairy Close. Fulham Road and New Kings Road are CHISWICK EARL’S COURT A4 CHISWICK HOUSE GREENWICH A117 situated approximately 200m to the north and 300m to the & GARDENS FULHAM A2 south respectively and both roads provide access to Putney BARNES BATTERSEA A202 to the south west and Fulham Broadway to the north east. PARK PARK Parsons Green Underground station is situated PARSONS GREEN LONDON HEATHROW immediately north of the subject property. KEW Nearby occupiers include Little Waitrose, Whistles, Cote, GARDENS Dexters Estate Agents, Brik Estate Agents and The White PUTNEY HEATHROW BRIDGE Horse Public House. 5 2 Further retailing and restaurants/bars are located nearby on the M New Kings Road to the south and Fulham Road to the north. A316 A3205 Great South West Road A3 RICHMOND PARK A20 WIMBLEDON A308 COMMON DEMOGRAPHICS • In the 2011 Census the population of Parsons Green and Walham was 10,813 with an average age of 35. • The number of people economically active (full time) was 47.2% compared with the national average of 38.6%. 43 52 eet 27 Str 45 54 ello • Within Parsons Green and Walham, 20.6% of the population are managers/directors and senior officials compared Nov Retail 29 47 56 29 49 1 3 49 58 to an average of 10.9% in England. a 1 3 51 51 60 33 62 • 56.4% of people have level 4 qualifications and above compared with 27.4% in England. 53 53 35 55 55 37 57 64 6O • 47% of employed residents are working as managers, directors, senior officials or in professional occupations. 7O 9 3 a s n 27 9 59 on o 3 s ti 57 ar ta P S 27 en 61 re • 75% of adults aged 16-74 are economically active (71% in 2001). 41 G 23 1 59 43 25 34 27 2 63 2 9 • Densely populated ward in London Borough of Hammersmith and Fulham (121 people per hectare). 45 9 36 a 65 k 31 47 al 33 W • 3.4% of the economically active are unemployed compared to the national average of 4.4%. d 67 49 el Parsons Green fi 34 ns o 71 38 51 c ea 40 B 73 4 42 3 a 3 75 b 2 a 2 b 46 77 48 44 50 ad 20 P o R a e r e s h r r a T o s H e it m h o k c W n A 19 s G r e e n L a n e Pa rs on 8 s - 1 G 0 re P en a r s o n s G r e e n 5 7 9 11 Park 17 14 19 16 20 18 ce la 21 22 oad P 24 t Dionis R o 25 26 S 28 30 0m 25m 50m 75m 32 34 36 40 38 42 Road ionis 44 St D © UKMap Copyright The GeoInformation Group 2016 Licence No. LANDMLON100003121118. Plotted Scale - 1:1250 6O/7O PRIME FREEHOLD SUPERMARKET & PARSONS GREEN LANE RESTAURANT INVESTMENT OPPORTUNITY LONDON SW6 4HU DESCRIPTION The property comprises two separate high street units arranged over ground floor only, forming part of a larger block. Both units benefit from excellent street frontage. The Co-operative is arranged to provide a large food store with a storage area to the rear, which also provides a staff kitchen, office and toilets. The Le Pain Quotidien is arranged to provide a substantial dining area with a kitchen to the rear. The unit also benefits from alfresco dining to the front on Parsons Green Lane. TENURE The property is held freehold. 43 52 eet 27 Str 45 54 ello Nov Retail 29 47 56 29 49 1 3 49 58 a 1 3 51 51 60 TENANCY SCHEDULE 33 62 53 53 35 55 55 37 57 64 Unit Tenant Area Rent Lease Lease Rent Comments 9 3 a s n 27 9 59 on o 3 s ti 57 ar ta 27 P S (sq ft) (pa) Start Expiry Review en 61 re 41 G 23 1 59 43 25 34 27 Unit 1 (60) Co-Operative 4,629 £135,000 29/11/2013 28/11/2033 29/11/2018 Benefits from 5 yearly RPI linked 2 63 2 9 45 9 36 a 65 Group Ltd (£29.16 psf) rent reviews compounded. k 31 47 al 33 W d 67 Collared and capped at 49 el Parsons Green fi 34 ns o 71 1% and 4%. The lease contains 38 51 c ea 40 B an option for the tenant to 73 4 42 3 a 3 renew for a further 15 years 75 b 2 a 2 b 46 with a tenant break option in 77 48 44 year 10, to be exercised from 50 ad 20 P o 28/05/2032 to 27/05/2033. R a e r e s h r r a T o s H e it m h o k c W n A 19 s G Unit 2 (70) Le Pain Quotidien Ltd 3,803 £120,000 20/03/2009 19/03/2024 20/03/2019 r e e n (£31.55 psf) L a n e Pa rs on 60/84 Parsons Green Lane London and Quadrant £1 19/10/2005 18/10/2130 8 s - 1 G 0 re & Heathman’s Yard Housing Trust P en a r s o n s G Eastern Power r e Sub-station £0 10/06/2008 09/06/2107 e Networks Plc n .5p 5 Sub-station London Electricity Plc 30/01/1991 29/01/2090 7 (if demanded) 9 11 Total 8,432 £255,001 Park 17 14 19 16 20 18 ce © Crown Copyright, ES 100004106. For identification purposes only. la 21 22 oad P 24 t Dionis R o 25 26 S 28 30 0m 25m 50m 75m 32 34 36 40 38 42 Road ionis 44 St D © UKMap Copyright The GeoInformation Group 2016 Licence No. LANDMLON100003121118. Plotted Scale - 1:1250 6O/7O PARSONS GREEN LANE LONDON SW6 4HU RECENT SIMILAR TRANSACTIONS COVENANT INFORMATION The Co-Operative Group Ltd. Property Date Price Net initial Summary 02/01/2016 03/01/2015 04/01/2014 Yield The Co-operative Group is the largest consumer Turnover (000’s) £9,301,000 £9,433,000 £10,534,000 Heritage Lane, Currently £7.35m 4.15% Let to M&S and M&S Hot Food On The Move on co-operative in the UK owned by more than 8 million West Hampstead under new 15 year leases with 5 yearly RPI linked reviews members.