JD SPORTS 123 HIGH STREET NORTH, EAST HAM, LONDON E6 1HZ - HIGH STREET INVESTMENT OPPORTUNITY - Allsop
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PRIVATECLIENT
HIGH JD SPORTS
STREET 123 HIGH STREET NORTH,
EAST HAM, LONDON E6 1HZ
INVESTMENT
OPPORTUNITY
• JD SPORTS, 123 HIGH STREET NORTH, EAST HAM, LONDON E6 1HZ HIGH STREET INVESTMENT OPPORTUNITY
INVESTMENT CONSIDERATIONS PROPOSAL
• Located in East Ham in the London Borough • Income of £110,000 per annum subject to a rent • We are instructed to seek offers in excess of
of Newham review in year five £1,725,000 (One Million, Seven Hundred and
• Let to the 5A1 covenant of JD Sports Fashion • Recently refurbished in JD Sports full branding Twenty Five Thousand Pounds), subject to
PLC for 10 years certain with no breaks • JD Sports have relocated from a smaller store contract and exclusive of VAT. A purchase at
• The property comprises 4,424 sq ft of well at 131 High Street North, demonstrating their this level would reflect a net initial yield of 6%
configured retail in a prime trading position commitment to the pitch after allowing for purchaser’s costs of 6.22%.
on High Street North • Ground floor only on a new 999 year lease
• JD SPORTS, 123 HIGH STREET NORTH, EAST HAM, LONDON E6 1HZ HIGH STREET INVESTMENT OPPORTUNITY
Stratford International
QUEEN ELIZABETH Stratford
EAST HAM
OLYMPIC PARK
LOCATION
LONDON
STADIUM
WEST HAM East Ham Barking
East Ham is a lively and popular suburb
situated within the London Borough of Upton Park
Newham, north of the River Thames. Abbey
BARKING
The district has an estimated population
Road
Plaistow
of approximately 76,000 alongside a West Ham
PLAISTOW
primary catchment population of BOROUGH OF NEWHAM
222,000. The area was identified within Bromley-by-Bow
BROMLEY
the London Plan as one of 35 Major BY BOW
Centres. East Ham is conveniently
located between Barking and the City
of London with easy access to the West
Beckton
BECKTON
End, London City Airport, The Olympic Canning
Town
Stadium, Westfield Stratford, the O2 Prince Regent Gallions
Reach
Arena, and The Excel Exhibition. Royal Victoria
ExCeL
London
BLACKWALL Royal Albert Dock
Royal Victoria Dock
TUNNEL LONDON CITY AIRPORT
CANARY
WHARF
The
O2 London City Airport
King
George V
SILVERTOWN
COMMUNICATIONS
St
East Ham benefits from strong road
ra
tfo communications with the A13 situated in
rd
3. close proximity to the south and the A406
5m
(North Circular Road) running parallel to the
east. Both the District and the Hammersmith
& City Underground Lines can be accessed
via the East Ham Underground station
oss 10m offering regular services to Stratford
Charring Cr
(15mins) and Liverpool Street Station
on
6m (20mins). There are also a number of city
nd
f Lo wide bus routes in the local vicinity.
yo
Cit
5m
London City Airport is located just 2 miles
London
rf
ha
to the south east and Stansted Airport is
W
y
approximately 30 miles to the north.
h 7m
n ar
Cit
Ca
D
ar
nwic
y Airport
tfo
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17
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4m
• JD SPORTS, 123 HIGH STREET NORTH, EAST HAM, LONDON E6 1HZ HIGH STREET INVESTMENT OPPORTUNITY
DEMOGRAPHICS RETAIL IN EAST HAM
East Ham is an established retail centre with a East Ham is a popular retailing location and High
total population within the primary catchment Street North is the principle retailing pitch in
area of 222,000. The area benefits from a young the area. There are a large number of national
population which includes a particularly high retailers located in the street which include
proportion of adults aged 25-44 within the Primark, Foot Locker, Holland & Barrett, Wilko,
primary catchment population. East Ham is Boots, Argos, McDonalds, Costa Coffee and
projected to see an above average growth in Specsavers amongst many others.
population over the period 2017-21 and the area The town boasts an excellent mix of national and
is already experiencing an above average rise in local occupiers which serve the local community
residential values. and catchment area. The East Ham Market Hall
is particularly popular with its quirky and unique
mix of local and international market stalls.
In terms of total floorspace East Ham retail is
estimated to be at approximately 0.51 million sq
ft and total in-store comparison retail expenditure
(2016) for the area is above the national average
for comparable centres at £496m million.
• JD SPORTS, 123 HIGH STREET NORTH, EAST HAM, LONDON E6 1HZ HIGH STREET INVESTMENT OPPORTUNITY
SITUATION
The property is situated on the west side of High Street North
approximately a three minute walk from East Ham underground station.
The unit benefits from strong pedestrian flow located in East Ham’s prime
retailing pitch. WH Smith is located adjacent to the subject property
with Boots and Deichmann Shoes located immediately opposite.
DESCRIPTION
®
The property comprises a mid-terrace retail unit arranged over ground
floor only which forms part of a larger 2 storey building. The property
provides a ground floor retail sales area with ancillary storage and staff
accommodation to the rear. There is vehicular access to the rear via Ron
Leighton Way.
ACCOMMODATION
Accommodation* Sq m Sq Ft
Ground Floor 411 4,424
ITZA 127.6 1,373
*Measurements are approximate, any interested party should carry out their own
measured survey.
TENANCY
The property is let to JD Sports Fashion PLC for a term of 10 years from
15 August 2017 on an effective full repairing and insuring lease expiring
14 August 2027 without break at a passing rent of £110,000 pa. The rent
will be reviewed in 2022 in line with open market rental values.
TENURE
999 Years at a peppercorn rent.
COVENANT INFORMATION
JD Sports Fashion Plc, more commonly known as just JD Sports,
is a sports-fashion retail company founded in 1981 in Bury, Greater
Manchester. The company now has over 1,200 stores across a number
of retail fascias and benefits from its own roster of highly sought-after
worldwide exclusive product releases. It is listed on the London Stock
Exchange and is a constituent of the FTSE 250 Index. In 2016, JD Sports
acquired Go Outdoors for £112 million.
JD Sports Fashion plc has a current D&B rating of 5A1 and reported the
following financial information for the last three years:
Year Ending 28 Jan 2017 30 Jan 2016 31 Jan 2015
Turnover 2,378,694,000 1,821,652,000 1,522,253,000
Pre-Tax Profit 238,368,000 131,631,000 90,496,000
Tangible Net Worth 361,348,000 308,809,000 195,414,000
© Crown Copyright, ES 100004106. For identification purposes only.
VAT PROPOSAL
The property is elected for VAT and it is We are instructed to seek offers in excess of £1,725,000 (One Million, Seven Hundred and
anticipated the transaction will be treated Twenty Five Thousand Pounds), subject to contract and exclusive of VAT. A purchase at
as a transfer of a going concern (TOGC).
this level would reflect a net initial yield of 6% after allowing for purchaser’s costs of 6.22%.
EPC
For further information or to make arrangements for viewing please contact:
The EPC is available upon request.
ALLSOP PRIVATE CLIENT TEAM ASTON ROSE
DATAROOM Liam Stray Kevin Neun
020 7543 6769 0203 026 4092
For access to the Allsop Dataroom
liam.stray@allsop.co.uk kevinneun@astonrose.co.uk
please use the following link:
https://datarooms.allsop.co.uk/register/EastHam www.allsop.co.uk www.astonrose.co.uk
PRIVATECLIENT
Misrepresentation Act: 1. Allsop LLP and Aston Rose on its own behalf and on behalf of the instructing party of this portfolio whose agent Allsop and Aston Rose 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 instructing party does not make or give, and neither Allsop or Aston Rose nor any of their 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 instructing party are those contained and expressly referred to in the written contract for sale or agreement for lease between the instructing party 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: Command D - www.commandHQ.co.uk 02.18
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