SUTTON 121 HIGH STREET2

INVESTMENT SUMMARY

• Affluent London suburb• Situated in the prime pedestrianised section of the High Street• Income secured against the excellent covenant of Nero Holdings Limited, t/a Café Nero• Lease expiring July 2022• Current income of £50,000 per annum • Freehold• Offers in excess of £700,000 which reflects an attractive net initial yield of 6.80% after the

deduction of usual purchasers costs of 5.00%

LONDONHeathrowAirport

LondonCity Airport

GatwickAirport

A127

A217

A331

A322

A316

A309

A232

A264

A264

A404

A355 A413

A2

A3

A3

A40

A24

A22

A21

A20

A10 A12

A13

A26

A21

A23

M4

M4

M2M3

A329 (M)

M25

M25

M25

M25

M23

M26

M20

M20

Dartford

Bromley

Gravesend

Biggin Hill

Romford

Sevenoaks

Tonbridge

RoyalTunbridge

Wells

Maidstone

Snodland

East Grinstead

Crawley Three Bridges

HorleyGodalming

Cranleigh

Oxted

DorkingGuildford Reigate

Staines

Slough

Wycombe

WembleyUxbridge

BrentCross

Woking

Croydon

HarefieldHarrow

Windsor

Aldershot

Famham

Fleet

BracknallEgham

Sandhurst

Bagshot

READING

Maidenhead

Epsom

Swanley

Fulham

Richmond

KingstonUpon Thames

Southall

BillericayWickford

Stanford-le-Hope

Basildon

Walton-on-Thames

Clapham

SUTTON

M40

Leatherhead

Redhill

SUTTON

LOCATION

Sutton is an affluent London suburb located approximately 10 miles south of Central London and 7 miles west of Croydon.

Strategically located between Croydon and Epsom meaning both the M23 and M25 motorways are easily accessible.

Excellent rail connections with a journey time to London Victoria of approximately 25 minutes.

Heathrow Airport is 15 miles to the west whilst Gatwick Airport is 20 miles to the south.

SITUATIONExcellent trading position in the pedestrianised section of the High Street, the prime retailing pitch in Sutton, at it’s junction with Church Street.

Short distance from the St Nicholas Centre, the town’s main shopping centre, and opposite an entrance in to the Times Square Shopping Centre.

Neighbouring occupiers on High Street include Marks & Spencer, Dorothy Perkins, Boots, Burton, Topshop/Topman and Footlocker. Tenants within the St Nicholas Centre include Debenhams, New Look, Next and Sports Direct, whilst W H Smith, Starbucks, Ernest Jones and H Samuel occupy units in the Times Square Shopping Centre.

DEMOGRAPHICSSutton has a busy retail centre with a primary catchment of approximately 338,000 people.

The catchment population has an above average proportion of adults categorised in the most affluent A & B social groups and has a high proportion of adults aged 25-44, with people aged 15-24 and 65 and over particularly under-represented.

DESCRIPTIONThe ground floor retail unit is fitted out in the tenants corporate branding with a glazed frontage to the High Street and return frontage to Church Street.

The three upper floors provide ancillary space and are accessed by an internal staircase toward the rear of the property.

The property is a four-storey end of terrace building of traditional construction with pitched roofs, extended at ground floor level under a flat roof.

ACCOMMODATIONThe property provides the following net internal areas:

Description Use Area (sq m) Area (sq ft)

Ground Floor Retail 144.09 1,551ITZA 63.08 679

1st Floor Ancillary 57.88 6232nd Floor Ancillary 43.20 4653rd Floor Ancillary 20.07 216Total 265.24 2,855

TENANCYThe premises are let on FRI terms to Nero Holdings Limited for a term of 10 years without break from 16th July 2012 (approx. 3.25 years unexpired) at a current rent of £50,000 per annum. The July 2017 rent review remains outstanding.The rent reflects £68 per sq ft Zone A.

TENUREThe property is held freehold.

50 metres

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Sutton

Experian Goad Plan Created: 07/09/2017Created By: Kitchen LaFrenais Morgan

Copyright and confidentiality Experian, 2017. © Crowncopyright and database rights 2017. OS 100019885

PHONE CLINIC

TELLY’S

VACANT

WARRENS

BAKERY

THREE

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LOVE HAIR

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VACANT

FLIGHT CENTRE

RENTAL EVIDENCEThe current rent reflects £68 per sq ft Zone A, which is low in comparison to recent rental evidence.

Address Tenant Date Rent Rent psf ZA Lease Event

152 High Street CEX Feb 2018 £45,000 £72.15 OML

147-149 High Street Santander Oct 2018 £88,700 £72.15 Lease renewal

150B High Street Superdrug Nov 2017 £97,500 £70.00 Lease renewal

95 High Street Carphone Warehouse Apr 2018 £82,875 £68.50 Lease renewal

COVENANT INFORMATIONThe income is secured against the excellent covenant of Nero Holdings Limited whose most recent published accounts are as follows:

Date of accounts 31/05/2018 31/05/2017 31/05/2016

Turnover (£) 279,223,000 267,897,000 248,761,000

Pre-Tax Profit (£) 22,501,000 25,896,000 24,237,000

Net Worth (£) 240,352,000 217,488,000 191,791,000

EPCThe property has a rating level of C. A copy of the certificate is available on request.

VATWe understand that the property is elected for VAT and therefore VAT will be payable on the purchase price. It is envisaged that the sale will be dealt with as a Transfer of a Going Concern (TOGC).

SUTTON 121 HIGH STREET6

Ryden is a limited liability partnership registered in Scotland. Messrs Ryden for themselves and for vendors or lessors 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 intended purchasers or lessees, and do not constitute, nor constitute part of, an offer or contract; (ii) all descriptions, dimensions, reference to condition and necessary permissions for use and occupation, and other details are given without responsibility and any intending purchasers or tenants should not rely on them as statements or representations of fact but must satisfy themselves by inspection or otherwise as to the correctness of each of them; (iii) no person in the employment of Messrs Ryden has any authority to make or give any representation or warranty whatever in relation to this property. Date: March 2019

Andrew King andrew.king@ryden.co.ukTel: 020 7323 7959

Edwin Braimedwin.braim@rydenco.ukTel: 020 7323 7954

Ryden4th Floor, Langham House302-308 Regent StreetLondon, W1B 3AT

FURTHER INFORMATION

PROPOSAL

We are instructed to seek offers in excess of £700,000 for our clients interest subject to contract and exclusive of VAT which based on the rental income of £50,000 per annum would show a purchaser a net initial yield of 6.80%, after a deduction of normal purchaser’s costs of 5.00%.