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London Retail Investment
437 Uxbridge Road,Ealing Common, London W5 3LD
Costa Coffee unit
Affluent London suburb
Adjacent to Ealing Common Underground Station & Sainsbury’sLocal
Attractive lot size
Attractive net initial yield
DescriptionThe subject property comprises a ground floor retail unit which has beenfitted out by the tenant in their usual corporate style.
The property forms part of a larger development completed in 2011including an adjoining retail unit (let to Sainsbury’s) and 51 residentialapartments above.
AccommodationWe have been advised that the property provides the followingaccommodation:
PlanningThe permitted use under the lease is as a coffee shop within Class A1 and/orA3.
LocationEaling is situated within the heart of West London between Heathrow,the world’s busiest airport and Central London.
Ealing is strategically located and benefits from first classcommunications. There is direct access to the M4 Motorway less than2.4 km (1.5 miles) to the south, the M40 Motorway approximately 18km (11 miles) to the north west, the M25 Motorway approximately 18km (11 miles) to the west and the A40 Western Avenue provides a directlink into Central London. Heathrow Airport is a mere 13 km (8 miles) tothe west and only 20 minutes by train. Ealing is serviced by the Central,District and Piccadilly Underground lines in addition to numerousnational rail services.
Ealing will form part of Crossrail and once the high speed rail link opensin 2018, up to ten services an hour in each direction will serve EalingBroadway, allowing passengers to get to a range of destinations morequickly and easily. The journey to Bond Street will be 11 minutes quickerand passengers travelling to Canary Wharf will be able to reduce theirjourney time by 18 minutes. Eurostar services at Stratford will be easilyaccessible in less than half an hour.
SituationThe property is situated in a prominent position fronting the UxbridgeRoad (A4020), close to its junction with Granville Gardens.
The property is adjacent to Ealing Common Underground Station anda Sainsbury’s convenience store. The surrounding area provides a blendof national and independent occupiers. Ealing Broadway Station andEaling town centre are within easy walking distance, some 0.8 km (0.5miles) to the north-west. The property also benefits from being in adensely populated residential area. .
Gross Frontage 14.58 m 47 ft 10 inNet Frontage 14.25 m 46 ft 9 inShop Depth 19.33 m 63 ft 5 inGround Floor GIA 125.04 sq m 1,346 sq ft
TenureLong leasehold for a term of 999 years from 29th June 2012 at apeppercorn rent
TenancyThe property is let to Yummie Coffee Co Limited (t/a Costa), on a fullrepairing and insuring lease for a term of 10 years from 8th June 2012,expiring 7th June 2022. The current passing rent is £25,000 perannum. There is a tenant’s break option on 8th June 2018, subject tothree months’ prior written notice. The lease benefits from an upwardsonly rent review on 8th June 2017.
CovenantFor the year ending 31st March 2013, Yummie Coffee Co Limited (Co.No. 05036200) reported Shareholders’ Funds of £309,302.
Yummie Coffee Company currently operates 7 Costa Coffeefranchises with locations including Acton, Ealing Common, WestEaling, Shepherds Bush and two stores in Hounslow. In addition, thecompany is opening a further three stores in Hayes, North Kensingtonand Greenford within the next few months.
Value Added TaxThe property has been elected for VAT. It is anticipated that the saleof this property will be treated as a Transfer of a Going Concern (TOGC).
Investment Considerations1. An opportunity to acquire an attractive London retail investment;
2. The property is well located, immediately adjacent to EalingCommon Underground Station & a Sainsbury’s convenience store;
3. The property comprises a modern retail unit;
4. The investment provides a purchaser with an attractive lot size;
5. A purchase at the asking price will provide an investor with anattractive net initial yield.
Subject to Contract & Exclusive of VAT
Singer Vielle for themselves and for the Vendors or Lessors of this property whose Agents they are give notice that:1. The particulars are set out as a general outline only for the guidance of intending purchasers or lessees, and do not constitute, nor constitute part of, an offer or contract2. All descriptions, dimensions, references to condition and necessary permissions for use and occupation, and other details are given in good faith and are believed to be correct but 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.3. No person in the employment of Singer Vielle has any authority to make or give any representation or warranty whatever in relation to this property.4. All maps are for identification purposes only and should not be relied upon for accuracy.5. Unless otherwise stated, all prices and rentals quoted are exclusive of Value Added Tax to which they may be subject.
Under no circumstances shall Singer Vielle be liable to you for any direct, indirect, consequential, incidental or special damages arising out of your purchase or lease of any Property.
Unless otherwise stated, all prices and rents are quoted exclusive of VAT.
These details are believed to be correct at the time of compilation, but may be subject to subsequent amendment.
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ProposalOur client is seeking offers in excess of (Three Hundred andFifty Thousand Pounds), subject to contract, reflecting a net initial yield of
.
ContactSinger Vielle94-96 Wigmore Street [email protected] W1U 3RFTel: 020 7935 7200 richard,[email protected]: 020 7486 8511www.singerviellesales.com [email protected]
Vendor's Solicitor
Jones Day21 Tudor Street [email protected] EC4Y 0DJTel: 020 7039 5316
