PEASCOD STREET & HIGH STREET WINDSOR · 2019-07-11 · Windsor Castle, Windsor Great Park, Legoland...

PEASCOD STREET & HIGH STREET

WINDSOR

PRIME HIGH STREET INVESTMENT WITH RESIDENTIAL UPPERS

INVESTMENT SUMMARY• Prime retailing position.• Fully let with a WAULT to break of 6 years

7 months, and WAULT to expiry of 9 years, producing an income of £239,940 per annum.

• Windsor is recognised as being within the UK’s top 10 most affluent towns.

• Over 195,000 weekly footfall.• Freehold.• Offers are sought in excess of £4,165,000

(Four Million One Hundred and Sixty Five Thousand Pounds) for the freehold interest, subject to contract and exclusive of VAT. This reflects an attractive net initial yield of 5.5% on the retail and a capital value of £250,000 on the residential flat, after allowing for purchaser’s costs at 6.53%.


WINDSOR

LOCATIONWindsor is a historic market town located within the Royal Borough of Windsor and Maidenhead. It is located 24 miles west of Central London, 20 miles east of Reading and 6 miles south east of Maidenhead. The town is one of the UK’s leading tourist destinations with sites including Windsor Castle, Windsor Great Park, Legoland and the nearby Ascot Racecourse as well as being home to Eton College.

The town benefits from excellent communication links with Junction 6 of the M4, 2 miles north of the centre which closely intersects with Junction 15 of the M25 and Heathrow Airport. The town is served by Winsor & Eton Central and Windsor & Eton Riverside stations, both providing frequent services to London Waterloo and Paddington.


WINDSOR

LONDONHeathrow

LondonCity

Gatwick

Stansted

Luton

J27J25J23

J21

J20

J19

J16

J15

J12

J10

J7J8

J9

J6

J5

J3

J2

J29

J28

A5

A505

A418

A602A131

A130

A138

A130

A127

A217

A331

A339

A316

A309

A232

A264

A264

A229

A120

A404

A355

A404

A413

A4142

A4010

A414

A414

A414

A1

A2

A3

A3

A41

A34

A40

A31

A24

A22

A21

A20

A10

A10

A12

A12

A13

A26

A21

A23

A23

A420

A303

A34

A34

A44

A40

M1

M4

M4

M2

M3

M3

M10

M40

A329(M)

M25

M25

M25

M25

M25

M25

M23

M26

M20

M20

M11

M11

A1(M)

M1

Harlow

Bishop’sStortford

Epping

Knebworth

Hertford

Aylesbury

Dunstable Stevenage

Hatfield

DartfordGravesend

Gillingham

Shoreham

Rochester

Sittingbourne

Romford

Sevenoaks

Tonbridge

RoyalTunbridge

Wells

Maidstone

Snodland

Sheerness

StaplehurstPaddock

Wood

HaywardsHeath

Burgess Hill

GUILDFORD

HemelHempstead

Berkhamsted St AlbansThame

Luton

WINDSOR

BASINGSTOKE

READING

OXFORD

Swanley

BillericayWickford

Stanford-le-Hope

Southend-on-SeaBenfleetCanveyIsland

Brentwood

Chelmsford

ChippingOngar

Basildon

Welwyn GardenCity

Harpenden

RETAILINGWindsor has an estimated 630,000 sq ft of retail accommodation centred on the pedestrianised Peascod Street and adjacent is the Royal Windsor Shopping Centre, comprising the Windsor & Eton Central Station, and Windsor Yard Shopping Centre.

The subject properties are located at the junction of Peascod Street, and High Street, in close proximity to Windsor Castle. The subject pitch is recognised as prime pitch where there are a number of mulit-national occupiers in occupation such as M&S, Boots, White Stuff, Starbucks Coffee, Barbour, and Krispy Kreme.


WINDSOR

DEMOGRAPHICSWindsor has a retail catchment of over 300,000 people and is ranked within the UK’s top 10 most affluent catchments. This is reflected in its per capital retail spending levels which are significantly above the UK average and population categorised within the most affluent AB social group. This stands at 37% compared to the UK average of 22% and including AB/C1 rises to 71%.

Windsor attracts 7.6 million visitors a year, from both the UK and overseas. In 2017, tourism generated approximately £441.8m on trips to Windsor and Maidenhead, and approximately £420.1m directly benefited local businesses (Source: www.windsor.gov.uk).

The high retail catchment coupled with the high number of tourists results in a footfall in excess of 195,000 people.

DESCRIPTION AND ACCOMMODATIONThe freehold ownership includes four retail units, three of which have glazed frontages onto Peascod Street, and the other unit is prominently located on High Street, diagonally opposite the Castle. In addition, there is a two storey maisonette above unit 5 Peascod Street.

The subject units provide the following approximate NIA floor areas:

UNIT USE SIZE (SQ M)

SIZE (SQ FT)

ITZA (SQ FT UNITS)

2-3 Peascod Street

Ground Floor Sales 119.93 1,291 691

First Floor Ancillary 5.46 59

Second Floor Ancillary 90.15 970

4 Peascod Street

Ground Floor Sales 31.95 344 344

First Floor Ancillary 27.48 296

Second Floor Ancillary 25.70 277

5 Peascod Street


Ground Floor Ancillary 3.71 40

Basement Ancillary 20.97 225

26 High Street


Basement 51.65 556

First Floor Office 42.92 462

Second Floor 48.59 523

Third Floor 47.44 403

5a Peascod Street Top Floor Maisonette 52.00 560


WINDSOR

Address Tenant Accommodation Lease Start Lease Expiry Tenant Break Passing Rent (pa) Incentive

2-3 Peascod Street

Seasalt Ground, first, and second floors

12/18 12/28 n/a £85,000 12 months’ rent free

4 Peascod Street Eurochange Basement, ground, first, and second floors

12/18 12/28 12/23 £38,000 6 months’ rent free

5 Peascod Street Raj’s 59 Ground floor 03/15 03/25 n/a £35,000 n/a

5A Peascod Street

Private tenant Top floor maisonette 08/18 08/19 n/a £10,440 n/a

26 High Street WDFG Ltd t/a Glorious Britain

Basement, ground, first, second, and third floors

06/18 06/28 06/23 £71,500 3 months’ rent free (if break not exercised)


WINDSOR

TENANCY The property provides an attractive WAULT to break of 6 years 7 months, and WAULT to expiry of 9 years, and a total income of £239,940 per annum.

*The outstanding rent free is to be topped up by the vendor.

COVENANT INFORMATION

Seasalt Ltd (Company no. 02259954)

Year Turnover Pre-tax Profit Shareholder’s Funds Creditsafe Rating

27/01/2018 £51,088,502 £367,884 £9,462,858 C45

Ultra Value Ltd t/a Raj’s 59 (Company number. 07677332)


30/06/2018 - - £36,515 B62

Eurochange Limited (Company co. 02519424)


30/06/2018 £37,386,000 £10,293,000 £29,975,000 A79

WDFG Ltd (Company no. 02872512)


31/12/2017 £1,015,630,000 £153,323,000 £150,624,000 A79


WINDSOR

MISREPRESENTATION NOTICE. Avison Young hereby gives notice that the information provided (either for itself, for any joint agents or for the vendors lessors of this property whose agent Avison Young is in this brochure is provided on the following conditions:(1) The particulars are set out as a general outline only, for the guidance of intending purchasers and/or lessees and do not constitute an offer or contract, or part of an offer or contract.(2) All descriptions, dimensions and references to this property’s condition and any necessary permission for use and occupation, and any other relevant details, are given in good faith and are believed to be correct.

However, any intending purchasers or tenants should not rely on them as statements or representations of fact but satisfy themselves of their correctness by inspection or otherwise.(3) No person in the employment of Avison Young, or any joint agents, has any authority to make or give any representation or warranty whatsoever in relation to the property or properties in this brochure.(4) All prices quoted are exclusive of VAT.(5) Avison Young shall have no liability whatsoever in relation to any documents contained within the brochure or any elements of the brochure which were prepared solely by third parties, and not by Avison Young. Design: CommandD www.commandHQ.co.uk May 2019.

Avison Young UK LLP22 Ganton Street, Soho, London W1F 7FD

Avison Young is the trading name of GVA Grimley Limited. ©2019 GVA Grimley Limited

Lewis Sinclair 0207 911 2913

[email protected]

Jessica Hawes 0207 911 2409

[email protected]

www.avisonyoung.co.uk

EPC2-3 Peascod Street – D79, 4 Peascod Street - C73,

5 Peascod Street - C70, 26 High Street - C73, 5a Peascod Street – F34

VATThe properties are elected for VAT. It is anticipated that the sale will be

structured as a Trade of Going Concern (TOGC).

DATA ROOMThe data room is available upon request.

WEBSITEwww2.avisonyoung.co.uk/14998

PROPOSALOffers are sought in excess of £4,165,000 (Four Million One Hundred and Sixty Five Thousand Pounds) for the freehold interest,

subject to contract and exclusive of VAT. This reflects an attractive net initial yield of 5.5% on the retail and a capital value of £250,000 on the residential flat, after allowing for purchaser’s costs at 6.53%.

PEASCOD STREET & HIGH STREET WINDSOR · 2019-07-11 · Windsor Castle, Windsor Great Park, Legoland...

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Transcript of PEASCOD STREET & HIGH STREET WINDSOR · 2019-07-11 · Windsor Castle, Windsor Great Park, Legoland...