WHARF HOUSE, 1 BREWERY LANE TWICKENHAM TW1 1AA

VIRTUAL FREEHOLD RESTAURANT INVESTMENT

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INVESTMENT CONSIDERATIONS ■ Prime location in the affluent suburban town of

Twickenham.

■ Prominently situated opposite Twickenham Railway Station.

■ Excellent transport links to Central London and London Airports.

■ Property comprises a well-configured ground floor restaurant unit, totalling 3,147 sq ft.

■ Let to MW Restaurants Limited with a further 22.5 years to expiry

■ Passing rent of £94,000 per annum, equating to £29.87 per sq ft.

■ 5 yearly RPI rent reviews compounded (2%-5% collar and cap per annum)

■ No breaks.

■ Virtual Freehold : 999 year lease

■ We are seeking offers in excess of £1,365,000 (One Million Three Hundred and Sixty Five Thousand Pounds) subject to contract and exclusive of VAT. This shows a net initial yield of 6.5% after allowing for purchaser’s cost of 6.03%.

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Gatwick AirportGatwick Airport

M4M

23

M3

M25

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25 TWICKENHAMHeathrow

AirportHeathrow

Airport

CanaryWharfLondon BridgeClapham Junction

Morden

WimbledonRichmond

Ealing Broadway Earls Court

Heathrow

Blackfriars

Victoria

Whitechapel

Epsom

WestCroydon

Croydon

To Dorking

To Brighton

To Maidstone

Wimbledon

King’s Cross / St. Pancras International

Waterloo

Piccadilly Line

Rail

Northern Line

Railway Station

Underground Station

Tram Station

Overground StationVictoria Line

District Line

Twickenham

EEL PIE ISLAND

Ham Lands

Craneford Way

Playing Fields

RIVE

R TH

AMES

Whitton Road

Craneford Way Craneford Way

Egerton Roa

d

Court Way

Court Way Heathfield S

Heathfield S

Cole Park Road

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nor Ro

ad

Gra

nge

Ave

Upper Grotto Road Grotto Road

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ny

son

Ave

nue

Edwin Road

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milto

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Station Road

Laure

l Ave

nue

Clifd

en Ro

ad

Clifd

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Copthall G

ardens

Holly Road

Grosven

or Road

Queens Road

Sharla

nd Road

Church St

Arragon RoadBell LnW

ater Ln

Riverside

Lebanon Park

Sion Rd

Ferry Roa

d

Mary’s Terra

ce

Am

yand

Park

Road

Victoria Rs

Strafford Rd

Haggard Road

Orleans Road

Saville

Roa

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He

ath G

ard

ens

Lion Ro

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Heath Road Heath Road K

ing Stre

et

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305

Richmond Road

Richm

ond Road

Chertsey Road

London Road

A31

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A31

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Whitton Road

Lond

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ad

RIVER CRANE

Twickenham

St Margarets

LOCATIONTwickenham is an affluent suburban town located in the southwestern quadrant of Greater London, popular with City workers and families. This densely populated residential area is the largest town within the London Borough of Richmond, which as a borough, boasts a population of 195,680 residents. The area contains a significantly above average proportion of adults within the most affluent AB social group (PROMIS). Twickenham continues to benefit from significant residential regeneration, especially near the Railway Station due to the excellent transport links.

The town is approximately 16.2 km (10 miles) south west of Central London, 4.3 km (2.6 miles) north east of Kingston-upon-Thames and 9.0 km (5.6 miles) east of Heathrow Airport. Twickenham benefits from excellent communication links to Central London and London Airports from Twickenham Station, located approximately 100 yards to the east of the property.

Twickenham is world renowned for Twickenham Stadium, home of English Rugby with a capacity of 82,500. As well as the venue for home internationals, the stadium hosts other sporting events, concerts and conferences attracting tens of thousands to the town on a regular basis.

TRAVEL TIMES

By Train

Clapham Junction 12 mins

Kingston 12 mins

London Waterloo 20 mins

Reading 58 mins

By Car:

Kingston-upon-Thames 11 mins

London West End 45 mins

London City 55 mins

Reading 55 mins

Airports:

London Heathrow 15 mins

London Gatwick 50 mins

London Luton 60 mins

London City 70 mins

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A310 London Road

S Crane Road

Brewery Lane

Brewery Lane

TwickenhamStation

River Crane

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BREWERY WHARF The restaurant is part of the recently completed Brewery Wharf development by Berkeley Group, which, to the rear of the restaurant, provides twenty-eight, luxurious four and five bedroom houses in an exclusively gated mews location. Adjacent to the subject property is a piazza overlooking the River Crane, on the doorstep of the restaurant.

TWICKENHAM GATEWAY Twickenham Gateway is the ongoing redevelopment of Twickenham Station, a project between Network Rail and Kier. Once completed, the development will provide a brand new station building with shops and a café and ground floor level and 1,2 and 3 bedroom contemporary apartments above. The development will boost the aesthetics of the station and certainly increase the resultant footfall.

The developers and Sainsbury’s have agreed a pre-let for the retail unit adjacent to the new station entrance. It is estimated that the development will be completed and functioning from November 2020 onwards.

THE EXCHANGE The Exchange, a community building managed by St Mary’s University, includes a 320 seat theatre in the building adjacent to the subject property with daily music events, comedy nights, cinema and theatre production.

SITUATION The property is situated on the western side of London Road (A310), with a piazza to the entrance of the restaurant overlooking the River Crane. The property is directly opposite the popular Twickenham Railway Station (Southwestern Railway, Zone 5), therefore attracting high footfall rates throughout the day. It fronts onto London Road (A310), which has access to A316 to the north, which leads to the M25 to the south west and Richmond/ Chiswick to the north west.

The property is located in a densely populated residential area with various developments under construction in the vicinity. The area provides a mix of local and multiple retailers / restaurants and the immediate area is of mixed use with retail, offices and residential occupiers.

Travelodge Twickenham is located less than 200 yards away from the property, on the opposite side of the railway bridge. The 10-storey Travelodge consists of 111 bedrooms and is in a prime location for visitors of Rugby games.

Adjacent to the subject property, the Haymarket Media Group occupy the five-storey office building as their headquarters, housing hundreds of their employees.

LOCAL HIGH STREET

TWICKENHAM STADIUM

Site outline for identification purposes only.

DESCRIPTIONThe property comprises the ground floor of a newly built 4 storey brick building, part of a wider executive development by Berkeley Group. The ground floor unit provides a modern, high-end restaurant unit, totalling 3,147 sq ft (292.45 sq m). The upper parts of the building comprise executive residential flats, not included in the sale.

The tenant has installed a comprehensive commercial kitchen, fitted out a high specification restaurant area as well as a quirky, modern bar area with pool table. High ceilings, stripped back to bare minimum creates a spacious atmosphere for the visitors. Overlooking the fountain on the piazza and the River Crane, there is an outdoor seating area to the front of the restaurant.

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TENANCYThe property is let to MW Restaurants on an effectively full repairing and insuring lease(1) for a term of 25 years from 22 March 2017 expiring in March 2042. The current passing rent is £94,000 p.a. exclusive of VAT and the lease is subject to 5 yearly rent reviews to the higher of Open Market Value or RPI on a compound basis.

The RPI uplift is subject to a collar of 2% and a cap of 5% per annum. (1) The tenant is directly responsible for all internal repairs and responsible under the service charge for a fair and reasonable proportion of all other repairs and estate maintenance enjoyed by the tenant including the building structure.

TENUREVirtual Freehold – 999 year lease.

COVENANTMW Restaurants, incorporated on 20th March 2014, was set up by Martin Williams. Previously to his role at MW Restaurants, Martin was the Managing Director of Gaucho until 2014 when he sold the business. Gaucho’s recent struggles have seen Martin return to Gaucho as CEO in an attempt to save the company from entering into administration.

M Restaurant has become an award winning restaurant and bar establishment offering an inspired dining experience; offering private members’ area, wine tasting rooms, secret dens and flexible event space.

The ‘M’ brand currently has 3 restaurants in London: Threadneedle Street, Twickenham and Victoria Street, with an additional M Wine Store.

MW Restaurants Limited reported the following results in 2016/2017:

Dec 2016 Dec 2017

Turnover £5,595,501 £6,611,172

Pre Tax Profit £-598,480 £-547,372

Total Net Worth £4,619,912 £3,956,376

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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 10.19

For further information or to make arrangements for viewing please contact:

Ronnie Morgan0207 7543 6808ronnie.morgan@allsop.co.uk

Gergo Petrovics0207 7543 6847gergo.petrovics@allsop.co.uk allsop.co.uk

PROPOSALWe are seeking offers in excess of £1,365,000 (One Million, Three Hundred and Sixty Five Thousand Pounds) subject to contract and exclusive of VAT. This shows a net initial yield of 6.5% after allowing for purchaser’s cost of 6.03%.

VATThe property is elected for VAT and we would expect the transaction to be treated as a Transfer of a Going Concern (TOGC).

EPCAvailable in the dataroom.

DATAROOMFor access to the Allsop dataroom please use the following link:

https://datarooms.allsop.co.uk/register/mrestauranttwickenham

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