Prime Aldgate restaurant investment opportunity for sale Goodman’s Fields Investment Opportunity Investment considerations Long leasehold investment held for a term of 999 years from completion at a peppercorn rent The property occupies a prominent corner position on the junction of Alie Street and Leman Street forming part of the Goodman’s Fields development Goodman’s Fields is an award-winning development of over 1 million sq ft of mixed use accommodation and 2.3 acres of landscaped gardens The property comprises 168.28 sq m (1,811 sq ft), of A3 accommodation at ground floor As part of the tenant’s fit out, they have installed a mezzanine floor. This has not been included in our measurements Let to Pizza Union from 3rd February 2017 for a term of 25 years until February 2042 Passing rent of £85,000 per annum (£46.94 psf) with 5 yearly upwards only open market rent reviews Offers in excess of £1,700,000 reflecting a net initial yield of 4.71% Goodman’s Fields Investment Opportunity C t 201 Eas Weavers Fields a 5 m A t t b ree er St n r i ld S d O t r g Location e e e t H A e BETHNAL GREEN 12 SHOREDITCH HIGH STREET a 0 t 2 h R o 1 a Goodman’s Fields is a seven acre regeneration 0 d scheme by Berkeley Homes within walking distance 5 A of the City of London. Goodman’s Fields has been d BARBICAN a designed to create a place for business and living o 11 R A C ad y o o R t d i m n to naturally blend. The amenity space will serve WHITECHAPEL ile E C m M Brick Lane the extensive office and residential infrastructure e r c i in the immediate area a MOORGATE l S MOORGATE t r Goodman’s Fields is surrounded by three main streets e e A1211 LIVERPOOL ST t 11 A that offer easy pedestrian and vehicular access to London’s main road and rail networks ad WHITECHAPEL Ro el ap ch Leman Street is a main arterial route bringing traffic te hi W Pizza Union from the West, North and East in the City of London THE CITY Commer cial Road A13 ALDGATE ALDGATE L M Aldgate East Underground station is within 250 e EAST A13 a m ST PAUL’S 0 1 n a yards to the North with Tower Hill DLR, Aldgate s A n e l S l t Underground and Fenchurch Street mainline stations T e r BANK t h S e a e t e g r t within a 5 – 10 minute walk s M e p e i MANSION o n t et o re sh St HOUSE i r ot D Whitechapel Crossrail Station is within 10 – 15 minute B i sc CANNON ST FENCHURCH e re o ames Stre s P Th et c STREET k walk, which is due to be delivered later this year SHADWELL t S A MONUMENT ee 32 tr t 1 S 1 TOWER HILL nt r i e M al e y o TOWER R t e g GATEWAY d L et i ower T e he Highway A1203 r hames St r T King Edward B Memorial Park k e TOWER HILL r g a d i w r h B t u n o o S d n o L SOUTH BANK Wapping Woods e g d i r A 3 T B 20 o 0 A o 32 t le r 0 y 0 e S e e t r r w e t e o WAPPING S LONDON BRIDGE t Wapping Garden Goodman’s Fields has been designed Aldgate East Underground Whitechapel Crossrail Station T h g RIVER THAMES i to create a place for business and station is within 250 yards is within 10 – 15 minute walk H living to naturally blend of Goodman’s Fields (Due in 2018) Goodman’s Fields Investment Opportunity 4 3 1 2 Local developments Aldgate East is situated directly to the East of the insurance and financial district of the City of London. The area has established itself as one of the key locations in London’s tech belt rivalling Clerkenwell and Shoreditch Goodman’s Fields lies at the heart of the significant new developments that have provided over 1million sq ft of new office development and in excess of 3,000 new homes over the past few years Significant new schemes include: 1 Aldgate Tower 2 The Relay Building 3 Whitechapel Building 4 1 Braham Street 324,000 sq ft 100,000 sq ft 200,000 sq ft 324,000 sq ft Office development completed 2015 Office and 207 residential unit Office and exhibition scheme New office development to be development completed 2014 completed 2016 -2018 completed by 2021 Goodman’s Fields Investment Opportunity Situation Whitechapel 12min walk Goodman’s Fields will provide over 1 million sq ft The of mixed use accommodation comprising 1,076 units, Property ding 4 617 student rooms and a 250 bedroom hotel. Hoar There will be 112,000 sq ft of A1/A2/A3/A4/A5, 3 B1, D1 and D2 accommodation on-site, drawing considerable footfall with 7 day trading Aldgate East Tube Station North East Block Pizza Union occupy a corner unit of the North West 3min walk (Under Construction) block fronting Alie Street and Leman Street with Alie Street immediate access to the central piazza. The unit is 2 5 very prominent and generates a high footfall 1 7 6 Aldgate Tube Station North West Block The area has benefited from significant inward 6min walk investment. There is extensive redevelopment in the 8 immediate area of office, residential, hotel and student 10 accommodation. The majority of which has been completed and with more due to be delivered over 9 the next 2 years 11 1 Pilpel 15 2 Premier Inn 13 3 12x3 Boxing Gym South East Block (Delivery 2018/19) 4 Crossfit Aldgate Leman Street 12 5 Curzon Cinema South West Block Local 6 Amber Café 14 7 Escape Rooms 8 Knight Frank 9 The Running Horse 10 Leman Street Tavern 11 Berkeley Homes Marketing Suite 12 Sainsbury’s Local 13 The Pastry Parlour Please note: 14 Berkeley Homes (North East London) Ltd Head Office This is the minimum size of the word mark by its self 15is: NHS (GP Surgery) W:20 mm H: 6,256 mm Please note: This is the minimum size of the figurative mark with the wordmark in combination is: W:19,317 mm H: 30 mm Amber Café 21 Piazza walk London, E1 8QH Goodman’s Fields Investment Opportunity Mezzanine Description The property is arranged over ground floor level Ground Floor with a full height glazed frontage. The tenant has WC WC installed a mezzanine floor at their own cost WC WC The unit is positioned below the North West corner of the North West block which provides 182 flats DISABLED DISABLED and a 250 bed Premier Inn Hotel. The South West WC WC block has been completed and comprises 617 luxury student apartments above a Sainsbury’s supermarket, the Pastry Parlour and Berkeley Homes (North East London) Ltd office PIZZA OVEN PIZZA OVEN ENTRANCE ENTRANCE Not to scale Goodman’s Fields Investment Opportunity Tenure & Tenancy Tenure Covenant VAT The property is held via a new long leasehold interest The building has been elected for VAT for a term of 999 years from the date of completion at a peppercorn rent Proposal Pizza Union is a fast growing chain of Italian Tenancy Pizza Bars following its establishment in 2012. We are instructed to seek offers in excess of The chains restaurant in Aldgate was rated as the £1,700,000 (One Million, Seven Hundred Thousand The property is let to Pizza Union for a term 3rd best restaurant in London by Trip Advisor Pounds) subject to contract and exclusive of VAT. of 25 years from 3rd February 2017 until (as at 06/12/2017). Pizza Union is headquartered A purchase at this level reflects a net initial yield of February 2042 at 35 New Bridge Street, London with restaurants 4.71% after usual purchasers costs of 6.18% in Aldgate, Kings Cross, Dalston and Spitalfields. The passing rent is £85,000 per annum, Pizza Union Limited has an Experian score of £46.94 psf overall 89 and are considered a Low Risk The lease provides for 5 yearly upwards only open For the year ending 1st January 2017 the company market rent reviews showed a net worth of £2,080,000 Contact For further information please contact: JAMES ABRAHAMS CHRISTOPHER JAMES 020 7588 4433 | james.abrahams@allsop.co.uk 020 7588 4433 | christopher.james@allsop.co.uk Misrepresentation 1. Allsop LLP on its own behalf and on behalf of the vendor/lessor of this property whose agent Allsop LLP is, give 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 representative 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.