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STARBUCKS CLAPHAM JUNCTION37-39 ST JOHN’S ROAD, SW11 1QN
RETAIL COFFEE SHOP INVESTMENT WITH SIGNIFICANT RESIDENTIAL DEVELOPMENT POTENTIAL
✪
✪STARBUCKS CLAPHAM JUNCTION 37-39 ST JOHN’S ROAD
SW11 1QN
CLAPHAM COMMON
CLAPHAM JUNCTION
CLAPHAM GRAND
ST JOHN’S ROAD
A306
A306
BATTERSEA POST OFFICE BATTERSEA LIBRARY
✪STARBUCKS CLAPHAM JUNCTION 37-39 ST JOHN’S ROAD
SW11 1QN
INVESTMENT CONSIDERATIONS
✪ Located within the affluent and popular suburb of Clapham Junction
✪ The property is situated in the 100% prime pitch on St John’s Road
✪ Currently let to the 5A1 covenant of Starbucks who wish to renew for a term of ten years
✪ Freehold
✪ Current passing rent of £126,850 pa reflecting a below market Zone A rent of £122 psf
✪ After reconfiguration of the ground floor the ERV increases to £189,000 pa based on a Zone A rent of £185 psf
DEVELOPMENT POTENTIAL (subject to gaining all the necessary consents)
✪ Conversion of the first and second floors to residential use
✪ The comprehensive redevelopment of the site, including an increase in the height and density of the development
We are instructed to seek offers in excess of £4,250,000 (Four Million Two Hundred and Fifty Thousand Pounds), subject to contract and exclusive of VAT.
LOCATION
Clapham Junction is located in the south west London Borough of Wandsworth, one of the most affluent and popular areas of South London. The district is situated approximately 4 miles (6.4 km) south west of Central London, nearby suburbs include Westminster, Chelsea and Earlsfield. Clapham Junction benefits from excellent transport links.
✪STARBUCKS CLAPHAM JUNCTION 37-39 ST JOHN’S ROAD
SW11 1QN
RAIL
Clapham Junction is one of Europe’s busiest train stations with an estimated 2,000 trains and 500,000 passengers passing through each day. It serves as an intersection for regular trains to London Waterloo, London Victoria and Vauxhall providing easy access across London as well as the south east and south west of England. The station underwent major refurbishment in 2012 to accommodate the continuing increase in demand.
CAR
Clapham Junction benefits from excellent road communications being situated in close proximity to both the South Circular Road (A205) and the A3, which is the major arterial route through south west London. The A3 provides direct access to the M25 which is approximately (19 miles) 32 km to the south west.
BUS
Numerous bus routes pass through St John’s Hill, St John’s Road and Lavender Hill providing regular services into Central London.
AIR
Clapham Junction benefits from a regular train service to London Gatwick Airport approximately every 5-10 minutes (peak times) with a fastest journey time of 25 minutes.
LONDONHeathrow
LondonCity
Gatwick
Stansted
Luton
J27J25J23
J21
J20
J19
J16
J15
J12
J10
J7J8
J9
J6
J5
J3
J2
J29
J28
A5
A505
A418
A602A131A130
A138
A130
A127
A339
A264
A264
A229
A120
A404
A355
A404
A413
A4142
A4010
A414
A414
A414
A1
A2
A3
A41
A34
A31
A24
A22
A21
A20
A10
A10
A12
A12
A26A21
A23
A23
A420
A303
A34
A34
A44
A40
M1
M4
M4M4
M2
M3
M3
M3
M10
M40
M40
A404(M)
A329(M)M25
M25
M25
M25
M25
M25
M23
M26
M20
M20
M11
M11
A1(M)
M1
HarlowHarlow
BishopʼsStortfordBishopʼsStortford
EppingEppingPotters BarPotters Bar
KnebworthKnebworth
HertfordHertfordAylesburyAylesbury
DunstableDunstable StevenageStevenage
DartfordDartford
BromleyBromley
GravesendGravesend
GillinghamGillingham
ShorehamShoreham SittingbourneSittingbourne
CroydonCroydon
RomfordRomfordIlfordIlford
SevenoaksSevenoaks
TonbridgeTonbridge
RoyalTonbridge
Wells
RoyalTonbridge
Wells
TottenhamTottenham
MaidstoneMaidstone
SheernessSheerness
StaplehurstStaplehurst
CrawleyCrawley Three BridgesThree Bridges
HorleyHorley
HorshamHorsham
WitleyWitley
GodalmingGodalming
CranleighCranleigh
HaywardsHeath
HaywardsHeath
Burgess HillBurgess Hill
OxtedOxted
DorkingDorkingGUILDFORDGUILDFORD ReigateReigate
StainesStaines
HemelHempstead
HemelHempstead
CheshamChesham
St AlbansSt Albans
HighWycombe
HighWycombe
ThameThame
WatfordWatford
WembleyWembley
LutonLuton
HarefieldHarefield
HampsteadHampstead
BorehamwoodBorehamwood
EnfieldEnfieldBarnetBarnet
WindsorWindsor
SloughSlough
FamboroughFamborough
AldershotAldershot
AltonAlton
BASINGSTOKEBASINGSTOKE
FamhamFamham
WokinghamWokingham AscotAscot
SandhurstSandhurst
READINGREADING
OXFORDOXFORD
Henley-on-ThamesHenley-on-Thames
EpsomEpsomSuttonSutton
RichmondRichmond
SouthallSouthall
WickfordWickford
Stanford-le-HopeStanford-le-Hope
Southend-on-SeaSouthend-on-SeaCanveyIsland
CanveyIsland
BrentwoodBrentwood
ChelmsfordChelmsford
ChippingOngar
ChippingOngar
BasildonBasildon
Welwyn GardenCity
Welwyn GardenCity
Walton-on-ThamesWalton-on-Thames
KingstonUpon Thames
KingstonUpon Thames
CLAPHAMCLAPHAM
St John’s R
oad
Northcote R
oad
Strath Terrace
Bolingb
roke Grove
Boutflower Road
Auckland R
oad
Buckm
aster Road
Alm
eric Road
Shelgate Road
Leathwaite R
oad
Web
b’s R
oad
W
Lindo
re Ro
ad
Keildon Road
Eccles Road
Parm
a Crescent
La
vend
er Sw
eep
Barnard Road
Beaucham
p R
oad
Beauchamp Road
Ilminster G
ardens
Comyn Road
Eckstein Road
Severus R
oad Falcon R
oad
Falcon Lane
Grant Road
Barnard M
ews
Limburg R
oad
Hafer R
oad
Altenb
urg Gardens
Kathleen R
oad
Lavender G
ardens
Mysore R
oad
Sisters A
venue
Aliwal Road
Mossbury Road
A3
Battersea Rise A3
Battersea Rise A
3
S C
ircular
Road
A3220
A3220
A3036 S
t John’s Hill
A3036
A3036 Lavender Hill
A3036
A3036
CLAPHAMJUNCTION
CLAPHAMCOMMON
RETAIL COFFEE SHOP INVESTMENT WITH SIGNIFICANT RESIDENTIAL
DEVELOPMENT POTENTIAL
✪STARBUCKS CLAPHAM JUNCTION 37-39 ST JOHN’S ROAD
SW11 1QN
© Crown Copyright, ES 100004106. For identification purposes only.
50 metres
For more information on our products and services:www.experian.co.uk/goad | goad.sales@uk.experian.com | 0845 601 6011
Clapham Junction
Experian Goad Plan Created: 30/08/2016Created By: Allsop
Copyright and confidentiality Experian, 2016. © Crowncopyright and database rights 2016. OS 100019885
CLAPHAM JUNCTIONSTATION
SITUATION
The property is situated in the heart of Clapham Junction’s retail thoroughfare occupying a 100% prime pitch. The property benefits from frontages onto St John’s Road and Beauchamp Road. The property is located opposite Waitrose Supermarket and adjacent to F Hinds Jewellers with a number of national multiples in close proximity including O2, TK Maxx, Superdrug, Santander, Specsavers and Boots. Clapham Junction railway station is located a short 5 minute walk north west of the property.
DESCRIPTION
The property comprises a prominent 3 storey end-of-terrace corner building arranged over ground, first and second floors. The ground floor consists of a Starbucks coffee shop with the upper floors providing ancillary accommodation. The tenant currently uses only the ground and part of the first floor whilst the entirety of the second floor is not in use. There is a small courtyard to the rear of the building which provides rear external access to the first floor via Beauchamp Road.
ACCOMMODATION
Floor NIA (Sq m) NIA (Sq Ft)
Ground Floor(ITZA)
96.95(88.12)
1,044(948.5)
First Floor 92.77 999
Second Floor 79.93 860
Total 269.65 2,903
TENURE
Freehold
RETAIL COFFEE SHOP INVESTMENT WITH SIGNIFICANT RESIDENTIAL DEVELOPMENT POTENTIAL
✪STARBUCKS CLAPHAM JUNCTION 37-39 ST JOHN’S ROAD
SW11 1QN
RETAIL COFFEE SHOP INVESTMENT WITH SIGNIFICANT RESIDENTIAL
DEVELOPMENT POTENTIAL
DEMOGRAPHICS
Clapham Junction has a primary catchment area of 102,000 with an estimated shopping population of 41,000. The area is projected to see an above average growth in population over the period 2015-20. Clapham Junction benefits from a significantly high proportion of adults aged 25-44 with an above average proportion falling within the most affluent AB and C1 social groups. As a result of the younger population Clapham Junction has an above average number of adults in private rented accommodation.
RETAILING IN CLAPHAM JUNCTION
Clapham Junction is an established retailing destination with excellent communications creating a desirable location for people to live, socialise and shop. There is a wide selection of shops, bars and restaurants benefiting from a high pedestrian footfall and captive population resulting in an in-store comparison retail expenditure of £273 million in 2015.
Clapham Junction’s young and affluent catchment population, which traditionally benefit from an increased disposable income, have a higher per capita in-store comparison expenditure when compared to other trading locations within south west London.
TENANCY
The entire property is let to Starbucks Coffee Company (UK) Ltd on a full repairing and insuring lease for a term of 25 years from 23rd April 1991 expiring 22nd April 2016 at a current rent of £126,850 pa.
The tenant is currently holding over but they have expressed a desire for a new ten year lease on similar terms. Due to the underlying residential development value to the upper floors the vendor has decided not to renew the lease at this time and will leave this to the discretion of the purchaser. Correspondences to this point can be provided on request.
COVENANT INFORMATION
Starbucks is an American coffee company and coffeehouse chain founded in Seattle, Washington in 1971. Today it is the largest coffee house in the world with 23,768 locations worldwide and over 880 stores in the UK. The business has produced the following headline accounts over the last 3 years:
27 Sep 2015 28 Sep 2014 29 Sep 2013
Turnover £405,641,634 £408,721,070 £399,405,183
Pre-Tax Profit £34,216,739 £1,056,196 (£20,465,123)
Total Net Worth £57,705,649 £35,513,082 £43,838,060
✪STARBUCKS CLAPHAM JUNCTION 37-39 ST JOHN’S ROAD
SW11 1QN
RETAIL COFFEE SHOP INVESTMENT WITH SIGNIFICANT RESIDENTIAL DEVELOPMENT POTENTIAL
6
5759
1
Retail
Eckstein Road
Beauchamp Road
Ilminster G
ardens
St John’s Road
Retail5048
52
46
55
0m 5m 10m 15m
DEVELOPMENT POTENTIAL
Subject to obtaining the necessary planning consents the property provides a number of potential development opportunities including:
✪ Conversion of the first and second floors to residential use.
✪ The comprehensive redevelopment of the site, including an increase in the height and density of the development.
In order to establish the development potential, the Vendor has commissioned a planning report which provides a comprehensive review of the development potential of the existing building and redevelopment and extension potential.
The report concludes that in planning terms there is the potential to progress a conversion through an application for the change of use of the first and second floors to a
residential use. Furthermore, there is the potential to progress a comprehensive redevelopment of the Site, including an increase in the height and density of development.
The Vendor has commissioned indicative floor plans outlining the reconfiguration of the ground, first and second floors which are available in the dataroom.
Residential values in the Clapham Junction area are currently achieving approximately £1,000psf.
Full copies of the planning report and subsequent floor plans are available upon request or via the Dataroom: http://datarooms.allsop.co.uk/register/STARBUCKSCJ
Misrepresentation Act: 1. Allsop LLP on its own behalf and on behalf of the vendor/lessor of this property whose agent Allsop LLP is, gives 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 representations 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. 2. Prospective purchasers or tenants are strongly advised to: (a) satisfy themselves as to the correctness of each statement contained in these particulars; (b) inspect the property and the neighbouring area; (c) ensure that any items expressed to be included are available and in working order; (d) arrange a full structural (and where appropriate environmental) survey of the property; and (e) carry out all necessary searches and enquiries. Allsop is the trading name of Allsop LLP. Design: CommandD www.commandHQ.co.uk 10.16
For further information or to make arrangements for viewing please contact:
Lottie Hayward020 7543 6750
lottie.hayward@allsop.co.uk
Liam Stray020 7543 6769
liam.stray@allsop.co.uk
www.allsop.co.uk
Receiver Caveat:This property is being marketed for sale on behalf of Joint Fixed Charge Receivers and therefore no warranties or guarantees in any respect, including VAT, can be given.
The information in these particulars has been provided by the Joint Fixed Charge Receivers to the best of their knowledge, but the purchaser must rely solely on their own enquiries. The Fixed Charge Receivers are not bound to accept the highest or any offer and are acting in respect of the sale without personal liability.
PROPOSALWe are instructed to seek offers in excess of £4,250,000
(Four Million Two Hundred and Fifty Thousand Pounds), subject to contract and exclusive of VAT.
✪
VAT
The property is elected for VAT and we would expect the transaction
to be treated as a Transfer of a Going Concern (TOGC).
EPC
A copy of the EPC is available in the dataroom.
DATAROOM
Further information is provided in the dataroom. For access please register on the following website: http://datarooms.allsop.co.uk/
register/STARBUCKSCJ
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