EGHAM - 195-198 HIGH STREET - Affluent London commuter town Investment Opportunity, with massing potential (STPP) - LoopNet
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EGHAM – 195-198 HIGH STREET Affluent London commuter town Investment Opportunity, with massing potential (STPP) Sat Nav Ref: TW20 9ED
INVESTMENT SUMMARY
2
• Situated in Egham, an affluent and vibrant university town on the outskirts Price: £1,500,000
of Greater London. Rent: £103,000 per annum
• Egham has fantastic road and transport infrastructure which has made Yield: 6.47%
it popular amongst London commuters.
Capital Value: £300 psf
• The subject property holds one of the most prominent positions in the town.
• Egham has a substantial affluent student population as it is home to Based on the fixed rental uplifts, the
Royal Holloway University. running yield until 2024 will be as follows:
• A £60 million redevelopment is taking place within Egham Town Centre
providing modern retail and residential space. Date Yield
Fawcett Mead
EGHAM – 195-198 HIGH STREET
• Let to two long-established independent businesses, plus a popular Dec - 2021 6.63%
takeaway business. Dec - 2022 6.91%
• Nearby tenants include: Dec - 2023 7.07%
• Freehold Dec - 2024 7.23%
Sudbury Neasden Hampstead Kentish Lower Fo
Cricklewood
Town A10 Clapton G
A41 Canonbury
Northolt Wembley Willesden Hackney
Camden Town Stratford
Uxbridge Kilburn Islington
NEWHA
Iver Hillingdon
A40 Perivale
Kensal Green
St John’s Shoreditch
Bow
Heath Maida Vale Wood Plaist
M25 Yeading CITY OF Stepney
Greenford Marylebone Limehouse
Hayes LONDON
Notting Hill Strand Poplar
Southall
Acton Rotherhithe
A312 Ealing
Shepherd’s
3
Bush Westminster Bermondsey Isle of
Deptford Dogs
Hammersmith A102
M4 Chiswick A4 Ch
Brentford Vauxhall Greenwich
M4 Heston A4 Barnes Kennington
Fulham Battersea A2 Blackheath
Kew Camberwell
Hounslow Isleworth Lewisham
A2
HEATHROW Putney
AIRPORT A30 A205 Wandsworth
Brixton Peckham
A3 Clapham
St Margarets Richmond
Whitton Dulwich
Feltham
A205
A316 A214 Tulse Hill Forest Hill
Ham
A30 Twickenham Catford
Staines Streatham
EGHAM A308 Teddington New Malden
Wimbledon A24 Crystal
Palace
Penge
Hampton Kingston
A308 upon Thames Upper Norwood
Raynes Park
A23
Beckenham
Sunbury East Bromley
Virginia Water Molesey Mitcham Thornton
Morden
M3 Heath
Surbiton
Chertsey A309
Fawcett Mead
EGHAM – 195-198 HIGH STREET
Worcester Park West Wickham Hayes
Croydon
Walton-on- A24 A232
Thames Carshalton
Esher Cheam
Sutton
Chobham Weybridge Chessington New Addington
Claygate
M25 Ewell A23
A243
A3
Oxshott Epsom Purley
LOCATION Cobham
A24 A240 Kenley
Bigg
Stoke D’Abernon Warlingham
Woking Ashtead Banstead
Coulsdon
A3
Egham is a university town in the Borough of Runnymede
Ripley Burgh Heath in Surrey, approximately A22
20 miles east of central London and 18 miles to the westA217 of Reading.
M25 Tadworth
SURREY Leatherhead
Caterham
University of LondonEastRoyal
Horsley Holloway
Fetcham College with its population Kingswood of circa 10,000
M25
students lies approximately 1 mile away at Englefield
West Clandon Walton on the HillGreen. Strode’s Sixth Form
Merstham
College is situated under 300 meters to the east of the subject property and currently
Guildford Godstone
Dorking Reigate Redhill Bletchingley
has approximately 1300 students.
The M3 motorway is located approximately 2 miles to the south of Egham,
providing direct vehicular access into London and down to Southampton. In
addition, the M25 runs through Egham allowing for easy travel to London’s
popular suburban towns by commuters.
Egham railway station is located towards the southern end of the town centre.
Trains run frequently to London Waterloo with a journey time of approximately
40 minutes which has attracted many London commuters. Reading station
is also directly accessible with a journey time of around 45 minutes.
London Heathrow is located just north of Egham with a journey time of 15 mins
by car. Gatwick and London Luton airports are also in reasonable proximity
with a car journey times of 40 minutes and 50 minutes.
4
Fawcett Mead
EGHAM – 195-198 HIGH STREET
DEMOGRAPHICS
In 2018, Egham boasted an affluent population of around 28,000, with Royal Holloway University is situated 1 mile to the east
around 30% being classed as of AB social status indicating high amounts of Egham town centre and currently has well in excess
of disposable income (CityPopulation). of 10,000 students attending. The university is ranked in
the top 300 universities worldwide by the Times Higher
The town has attracted several major office occupiers including Proctor Education World University Rankings. Strode’s Sixth Form
& Gamble, Centrica /British Gas, Future Electronics, Belron and Kerry College is situated in the town centre, with a student population of approximately
Foods. Smaller local companies also are attracted to Egham such as 1300. This large student population within Egham brings with it a large amount of
Wilkins Kennedy and Menzies due to the towns close proximity to London disposable income which can only benefit businesses within Egham.
and excellent infrastructure.
5
Fawcett Mead
EGHAM – 195-198 HIGH STREET
CGI of Egham Gateway West Development
RETAILING IN EGHAM
Retailing in Egham is focused towards the western end of High Street, the town’s
100% prime retail thoroughfare. High Street boasts a variety of tenants from national
retailers to small independent businesses and cafes. Some notable national retailers
here include:
A £60 million redevelopment is currently taking place at Egham Gateway West,
bounded at Station Road North, High Street and Church Road where a new retail and
residential space is to be created by late 2021. The redevelopment highlights include
100 new homes, a 100 bed student block, shops, restaurants and a four screen cinema.
Royal Holloway University
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Fawcett Mead
EGHAM – 195-198 HIGH STREET
SITUATION
The subject property is situated at the eastern end of High Street, at
the roundabout where High Street meets Egham Hill (A30), opposite
from the newly refurbished Kings Arms and diagonally opposite the
Maranello Showroom.
Some notable nearby national covenants include:
DESCRIPTION
The subject property comprises an end-terrace building of traditional
brick construction, and is arranged over the ground and first floor.
The first floor is accessed via a designated entrance on High Street.
The property benefits from a large 11 space car park and services area,
found at the rear of the property, which is located just off Milton Road.
The property presents deliverable massing opportunities (STPP),
and in keeping with the remainder of the parade.
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Fawcett Mead
EGHAM – 195-198 HIGH STREET
TENANCY SCHEDULE & ACCOMMODATION
Address Tenant Lease Term Start Date End Date Rent (p/a) Area (sq ft)* Comments
Stepped Rent:
Pepperstitch 01/08/2020 – 31/07/2022 – £25,500 pa
195 High Street 6 years 01/08/2019 31/07/2025 £25,500 1,200
Design Limited 01/08/2022 – 31/07/2024 – £27,500 pa
01/08/2024 – 31/07/2025 – £30,000 pa
5 yearly rent reviews higher of OMV or RPI.
Stepped Rent:
Cheeky Chicken
198 High Street 15 years 16/04/2020 15/04/2035 £32,500 1,300 16/04/2020 – 15/04/2021 – £32,500 pa
and Grill Limited
16/04/2021 – 15/04/2023 – £35,000 pa
16/04/2023 – £37,500 pa
196-197 High Street Tecnica Building Stepped Rent:
5 years 01/08/2019 31/07/2024 £45,000 2,500
(First Floor) Services Limited 01/08/2022 – £47,500 pa
Total £103,000 5,000
*All properties are let on FRI leases.
*There has been no rental concessions during lockdown.
*Fawcett Mead have not measured the subject property.
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TENURE
Freehold.
COVENANT INFORMATION
Fawcett Mead
EGHAM – 195-198 HIGH STREET
Pepperstitch Design Limited (02994275)
Pepperstitch Designs are a well-established interior
design company who trade on the most part
throughout Surrey and the south east of England.
They have been in occupation at the property for
over 15 years.
Cheeky Chicken and Grill Limited (12042035)
Cheeky Chicken and Grill are a newly established fast
food takeaway company serving a wide variety of
chicken-based takeaway meals. The company have
Cheeky Chicken and Grill Limited
invested in excess of £125,000 and have extensively
refitted the property to help meet their already
popular demand.
Tecnica Building Services Limited (03507987)
Tecnica Building Services Limited is a MEP building
services engineering consultancy, specialising in
construction projects. The company boast a large
portfolio of clients across the commercial, retail,
leisure, residential and travel sectors. They have
invested heavily over the last 15 years since they
took occupation.
The company displays a Creditsafe rating of B-56,
indicating “low risk” of default.
Pepperstitch Design Limited Tecnica Building Services Limited
5
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Fawcett Mead
EGHAM – 195-198 HIGH STREET
THE KINGS ARMS
PEPP
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DESIG
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FIRST FLOOR
IA
CN
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E&
Experian Goad Plan Created: 19/10/2020
50 metres Created By: Fawcettmead
Copyright and confidentiality Experian, 2020. © Crown copyright and For more information on our products and services:
VAT
database rights 2020. OS 100019885 EPC Located on High Street,
www.experian.co.uk/goad | goad.sales@uk.experian.com | 0845 601 6011
We understand that the property is elected for A copy of the Energy Performance the towns principal retail
VAT. It is anticipated that the sale will be treated Certificate is available upon request.
as a transfer of a going concern (TOGC). thoroughfare.
PROPOSAL
We have been instructed to seek offers in excess
10
of £1,500,000 (One Million Five Hundred Thousand
Pounds) subject to contract and exclusive of VAT. A
purchase at this level would reflect a net initial yield
of 6.47% assuming purchaser costs of 6.1%.
Egham Gateway
West Development
Fawcett Mead
EGHAM – 195-198 HIGH STREET
FURTHER INFORMATION
Graham Fawcett Joe Baio Patrick Kilvington
graham@fawcettmead.co.uk joe@fawcettmead.co.uk patrick@fawcettmead.co.uk
020 7182 7482 020 7182 7489 020 7182 7486
07980 548 852 07515 889 649 07860 625 512
Misrepresentation Act: The particulars in this brochure are believed to be correct, but accuracy cannot be guaranteed and they are expressly excluded from any contract. SUBJECT TO CONTRACT
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