on behalf of joint fixed charge receivers ashford
TRANSCRIPT
117-133 (ODD NUMBERS ONLY) CONVENT ROAD, MIDDLESEX TW15 2HW
MIXED RESIDENTIAL AND RETAIL PARADE OFFERING SIGNIFICANT DEVELOPMENT POTENTIAL AND ASSET MANAGEMENT OPPORTUNITIES
ON BEHALF OF JOINT FIXED CHARGE RECEIVERS
ASHFORD
117-133 (ODD NUMBERS ONLY) CONVENT ROAD, MIDDLESEX TW15 2HWASHFORD
ASHFORD
Investment Considerations• Freehold mixed use parade comprising:
• Nine ground floor shops each with a first & second floor flat (9 x 2 bedroom)• Terrace of nine garages• Total site area of 0.216 hectares (0.534 acres) with a vacant and undeveloped element of the site
extending to 0.054 hectares (0.133 acres)• 8 of the retail units and associated flats each let subject to Full Repairing and Insuring leases• Five leases currently holding over• No.133 comprising a flat and shop currently vacant• Total Current Rental Income of £116,500 per annum• 6,643 sq ft (617.13 sq m) of retail and 5,706 sq ft (530.09 sq m) of residential accommodation• Significant development and asset management opportunities
• Offers in excess of £2,250,000 (Two Million Two Hundred and Fifty Thousand Pounds) are invited Freehold interest subjecting to all existing leases and tenancies, subject to contract and exclusive of VAT.
MIXED RESIDENTIAL AND RETAIL PARADE OFFERING SIGNIFICANT DEVELOPMENT POTENTIAL AND ASSET MANAGEMENT OPPORTUNITIES
117-133 (ODD NUMBERS ONLY) CONVENT ROAD, MIDDLESEX TW15 2HWASHFORD
ASHFORD
MIXED RESIDENTIAL AND RETAIL PARADE OFFERING SIGNIFICANT DEVELOPMENT POTENTIAL AND ASSET MANAGEMENT OPPORTUNITIES
Feltham Road B377
B378
Convent R
oad
B378
School Road
B378
Feltham Hill Road
Feltham Hill Road
Feltham Hill Road
B377
Church Road
Fort
brid
ge R
oad
Manor Road
Fontmell Park
Rex
Ave
nue
Link
scro
ft A
venu
e
Ashford Avenue
Muncaster Road
Metcalf Road
P
ark
Roa
d
Coolgardie Rd
Chalm
ers Road
East
Chalm
ers Road
Lynegrove Avenue
New Park Road
Pop
lar
Roa
d
Junction Road
Mor
ning
ton
Roa
d
Chesterfield Rd
Clarendon Road
Prin
ces
Roa
d
Per
cy A
venu
e
D
ing
le Road
Denman Drive
Glenfield Road
Hug
hes
Roa
d
O
rcha
rd A
venu
e
Sou
thfie
lds
Ave
Car
ew R
oad
Hog
arth
Ave
nue
Elg
in A
venue
Cec
il R
oad
Ap
pro
ach
Rd
Fo
ntme
ll Clo
se
A308 Kingston Road A308
A308 Staines Road West
ASHFORD MANORGOLF CLUB
QUEEN MARYRESERVOIR
■
PRESTON ■
BLACKBURN
■
HUDDERSIELD
■
WAKEFIELD
■
EAST KILBRIDE
■
CHESTER
■
WREXHAM
■
TELFORD
■
ROYALLEAMINGTON SPA
■
SOLIHULL
■
REDDITCH
■
GLOUCESTER
■
NEWBURY
■
CHIPPENHAM
■
NEWPORT
■
BOURNEMOUTH
■
TORQUAY
■
DARTMOUTH
■
FALMOUTH■
PENZANCE
■
EXMOUTH
■
LYME REGIS
■
BIDEFORD
■
KING’S LYNN
■
BEDFORD
WELWYN■ GARDEN CITY
HEMELHEMPSTEAD ■
■
LEIGHTONBUZZARD
■
DOVER■
FOLKESTONE
■
HASTINGS
■
EASTBOURNE
■
DARTFORD
■
NEWMARKET
■
HARWICH
■
SEVENOAKS
■
ASHFORD
■
MAIDSTONE
■
HOVE
■
CRAWLEY
HASSOCKS ■
■
WOKINGHAM
■
GUILDFORD
BRADFORD■
HARROGATE■
SCARBOROUGH■
WHITBY■
MIDDLESBROUGH■
HARTLEPOOL■
FALKIRK■
ST ANDREWS■
LANCASTER■
ST HELENS■
BANGOR■
WIGAN■
ROCHDALE■
STOCKPORT■
GREAT YARMOUTH■
LOWESTOFT■
FELIXSTOWE■
CREWE■
SHREWSBURY■
BARRY■
WESTONSUPER-MARE
■
BARNSTABLE■
ILFRACOMBE■
TINTAGEL■
NEWQUAY■
TRURO■
ST. IVES■
BODMIN■
WESTWARD HO! ■
TIVERTON■
BRIDGWATER■
CIRENCESTER■
WORCESTER■
HEREFORD■
MAIDENHEAD■
HIGHWYCOMBE
■
AYLESBURY■
FARNBOROUGH■
BRACKNELL■
WOKING■
■
ROYALTUNBRIDGE WELLS
TUNBRIDGE■
LEWES■
HAYWARDSHEATH
■
BRIGHTON■LITTLEHAMPTON
■
CHICHESTER■
POOLE■
SAILSBURY■
ANDOVER■
EXETER■
MARGATE■
CANTERBURY■
KETTERING■
HUNTINGDON■
WELLINGBOROUGH■
BURYST EDMUNDS
■
BRAINTREE■
CHELMSFORD■
■ SANDWICH
SOUTHEND-ON-SEA■
ROMFORD■
GILLINGHAM■CROYDON
■
CLACTON-ON-SEA■
LUTON■
RUGBY■
CHELTENHAM■
BLACKPOOL ■
FLEETWOOD ■
HULL■
Freehold mixed use parade comprising:Freehold mixed use parade comprising:
M1
M11
M25
M25
M40
M40
M42
M6 TollM54
M42
M1
M1
M6
M6M5
M5
M62M65
M74M77
M8
M9
M80
M73
M60
M56
M66
M18
A1
A63
A15
A1
A1
A428
A14
A43
A47
A11
A11
A46
A38
A52
A52
A59
A59A59
A570
A1(M)
A1(M)
A1(M)
A1(M)
A1(M)
M180M58■
MANCHESTER■
ST HELENS
■NORWICH
■BRISTOL
■BATH
■PLYMOUTH
■PORTSMOUTH
■SOUTHAMPTON
LONDON
■
SUNDERLAND■
CARLISLE
BIRMINGHAM■
WOLVERHAMPTON■
WALSALL■
OXFORD■
CAMBRIDGE■
NORTHAMPTON■
IPSWICH■
LIVERPOOL■
LEEDS■
ASHFORDASHFORD
Freehold mixed use parade comprising:
NEWCASTLE UPON TYNE■
MIDDLESBROUGH■
EDINBURGH■
PERTH■
DUNDEE■
DONCASTER■
YORK■
HULL■
LEICESTER■
■BUXTON
■SHEFFIELD
■ SCUNTHORPEBARNSLEY■
■HALIFAX
■MILTONKEYNES
READING■
SWINDON■
■COVENTRY
DERBY■
STAFFORD■
BOSTON■
■BOLTON
■SWANSEA
CARDIFF■
■GAINSBOROUGH
■GRIMSBY
■BRIGG
NOTTINGHAM■
NEWARK-ON-TRENT■
CHESTERFIELD■
SOUTHPORT■
BLACKBURN■
BLACKPOOL■
STOKE-ON-TRENT■
NEWCASTLE-UNDER-LYME■
LINCOLN■
GLASGOW
Freehold mixed use parade comprising:
TENURE
Freehold
LOCATION
The property is located in Ashford within Spelthorne Borough Council. Ashford is approximately 58 km (36 miles) south west of central London and 4.98 km (3.1 miles) south of Heathrow. The property occupies a prominent corner position on the north side of Convent Road at its junction with School Road and Feltham Hill Road.
Both the A30 and A308 (located to the north and south of the property) link to the M25 approximately 6.44 km (4 miles) to the west of the property and the M4.
There is a bus stop adjacent to the property providing services to Staines, Wimbledon and Twickenham.
Ashford train station is 1.6 km (1 mile) north west of the property and has regular direct services to London Waterloo (c.40 minutes) and Staines (c.4 minutes).
Heathrow airport is located 4.82 km (3 miles) north of the property. Europe’s busiest airport is used by 80 airlines flying to 185 destinations.
117-133 (ODD NUMBERS ONLY) CONVENT ROAD, MIDDLESEX TW15 2HWASHFORD
MIXED RESIDENTIAL AND RETAIL PARADE OFFERING SIGNIFICANT DEVELOPMENT POTENTIAL AND ASSET MANAGEMENT OPPORTUNITIES
© Crown Copyright, ES 100004106. For identification purposes only.
DESCRIPTION
The property comprises a mixed use parade arranged over ground and two upper floors occupying a site of approximately 0.216 hectares (0.534 acres). The nine ground floor retail units each have a two bed maisonette above. Retail units, 117-125 (odd) each benefit from rear extensions.
The residential element of the parade is accessed from a front stairwell while the individual flats are approached via a rear first floor walkway. The nine two bedroom maisonettes all benefit from front terraces (above the retail) and we understand they are all currently sublet.
Vehicular access to the property is from Convent Road at the eastern side of the property. To the rear of the property is a terrace of nine garages which are each demised to the retail units together with additional car parking for approximately 4/5 cars (although there are no marked spaces). There is a triangular shaped vacant site to the north east which is included in the title and extends to approximately 0.054 hectares (0.133 acres).
117-133 (ODD NUMBERS ONLY) CONVENT ROAD, MIDDLESEX TW15 2HWASHFORD
MIXED RESIDENTIAL AND RETAIL PARADE OFFERING SIGNIFICANT DEVELOPMENT POTENTIAL AND ASSET MANAGEMENT OPPORTUNITIES
RESIDENTIAL DEVELOPMENT POTENTIAL
In order to establish development potential the Vendor has commissioned Barton Willmore to undertake a detailed planning report.
The report ‘concluded that in planning terms there is clear potential for additional development of the site, comprising further residential redevelopment. This outcome could be achieved through a range of development solutions including extension of the existing building or comprehensive redevelopment.’
The full and detailed report is available to download from the data room (www.conventroadashford.com).
PLANNING
Local Planning AuthoritySpelthorne Borough Council Tel: 01784 451499Website: www.spelthorne.gov.uk
We have been advised that the property is neither Listed nor situated in a Conservation Area.
ASSET MANAGEMENT AND DEVELOPMENT OPPORTUNITIES (subject to obtaining all necessary consents)
• Let the vacant shop
• Refurbish and let the vacant flat
• Potential for an additional floor/ mansard
• Potential to extend/reconfigure the retail units
• Potential to re-gear the individual leases
• Potential to asset manage the structure of the leases and regain control of the residential uppers
• Potential to develop the site to the rear
• Comprehensive redevelopment of the site in its entirety
ACCOMMODATION AND TENANCY SCHEDULE
No. Trading Name Accommodation Floor Areas (Commercial NIA and Residential GIA)
Lease Dates Lease Term
Current Rent (PA)
Next Rent Review
Out of 1954
Holding actSQ FT (ITZA) SQ M (ITZA) Start Date End Date
117
Regency Dry Cleaning
Shop & garageGround
554 51.47
25/03/86 24/03/11 25 Years £13,750 - No117A 2 bedrooms, kitchen, bathroom, reception room, terrace
(454) (42.18)
First & second 634 58.9
119
Jubilee Installations
Shop & garage Ground865 80.36
25/03/86 24/03/11 25 Years £14,000 - No(568) (52.75)
119A 2 bedrooms, kitchen, bathroom, reception room, terrace First & second 634 58.9
121
Tile Centre
Shop & garage Ground1,068 99.22
25/03/86 24/03/11 25 Years £14,000 - No(606) (56.28)
121A 2 bedrooms, kitchen, bathroom, reception room, terrace First & second 634 58.9
123
William Hill
Shop & garage Ground877 81.47
25/03/86 24/03/11 25 Years £16,000 - No(512) (47.56)
123A 2 bedrooms, kitchen, bathroom, reception room, terrace First & second 634 58.90
125
Loco
Shop & garage Ground1055 98.01
28/09/12 28/09/37 25 Years £15,000 28/09/17 No(576) (53.51)
125A 2 bedrooms, kitchen, bathroom, reception room, terrace First & second 634 58.9
127/129
Coffee Stop
Two shops & garage Ground1,124 104.42
29/09/12 28/09/37 25 Years £30,000 29/09/17 No(874) (81.22)
127A/129ATwo flats each comprising: 2 bedrooms, kitchen, bathroom, reception room, terrace
First & second 634 58.9
131
The Paper Shop
Shop & garage Ground560 52.02
25/03/86 24/03/11 25 Years £13,750 - No(453.5) (42.13)
131A 2 bedrooms, kitchen, bathroom, reception room, terrace First & second 634 58.9
133
Vacant
Shop & garage Ground540 50.17
- - - - -(447) (41.48)
133A 2 bedrooms, kitchen, bathroom, reception room, terrace First & second 634 58.9
Total £116,500.00
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 08.16
PROPOSALOffers in excess of £2,250,000 (Two Million Two Hundred and Fifty Thousand Pounds) are invited for the Freehold interest subjecting to all existing leases and tenancies, subject to contract and exclusive of VAT.
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.
EPCs
EPCs are available to download from the data room.
VAT
We understand that the property is not elected for VAT.
DATAROOM
Further information is provided in the dataroom. For access please register on the following website www.conventroadashford.com
For further information please contact:
National InvestmentsJames Salmon020 7543 [email protected]
Liam Stray020 7543 [email protected]
Residential Investment & DevelopmentJames Hood020 7344 [email protected]
Richard How020 7344 [email protected]
Michael Linane020 7344 [email protected] www.allsop.co.uk