REXHOUSE 25-43 HAMPTON ROAD WEST, HANWORTH, LONDON, TW13 6AP - MIXED USE COMMERCIAL / RESIDENTIAL BUILDING OCCUPYING - Allsop
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REX HOUSE
25-43 HAMPTON ROAD WEST, HANWORTH, LONDON, TW13 6AP
MIXED USE COMMERCIAL / RESIDENTIAL BUILDING OCCUPYING
A LARGE SITE IN POPULAR WEST LONDON LOCATION
REX HOUSE
25-43 HAMPTON ROAD WEST, HANWORTH, LONDON, TW13 6AP
BRENTFORD - 5.1 MILES TWICKENHAM STADIUM - 2.6 MILES CITY OF LONDON - 15 MILES
FOUNTAINS CLOSE DEVELOPMENT
- 99 NEW BUILD HOMES
HEATHROW - 2.5 MILES
M3
A316 /
PA HOUSING DEVELOPMENT
ROAD W
- 21 FLATS MPTON
A316 HA
Outline for identification purposes only.
REX HOUSE
25-43 HAMPTON ROAD WEST, HANWORTH, LONDON, TW13 6AP
INVESTMENT CONSIDERATIONS
■ Mixed use commercial / residential building
in popular West London suburb
■ Comprising 5 retail units and car forecourt on
the ground floor and 32 residential units above
■ Residential element includes 11 flats let on ASTs
and 21 held on long leasehold basis
■ Low existing site cover of 36%, with potential
to extend / develop subject to consent
■ Producing a total income of £277,465 per annum
■ 70% of the commercial income is let to Very Low
Risk or Low Risk tenant covenants
■ Average unexpired lease term of 4.84 years until
lease expiry on the commercial element
■ Heads of Terms have been agreed for a new
15 year lease (breaks in 5 & 10) with Subway
demonstrating sustainable rental levels
■ Residential is fully let
■ Site offering excellent long term redevelopment
opportunity subject to consent
PROPOSAL
We are instructed to seek offers in excess of £3,500,000
(Three Million and Five Hundred Thousand) subject
to contract and exclusive of VAT. A purchase at this
level reflects a Net Initial Yield of 7.44% after allowing
for purchaser’s costs of 6.50%.
Please note the property will be sold at Allsop’s
23rd March online Auction. No bids will be accepted prior.
DATA ROOM
For access to the Allsop dataroom please email
gergo.petrovics@allsop.co.uk
REX
WEMBLEY
HOUSE
CHALK FARM
25-43 HAMPTON ROAD WEST, HANWORTH, LONDON, TW13 6AP
A40 KENSAL GREEN
GREENFORD REGENTS Euston
PARK
A40
M25 Marylebone
HAYS A406
Liverpool Street
Paddington
A40 A4202
CENTRAL LONDON
WHITE CITY
EALING
HYDE PARK
A312 GREEN PARK London Bridge
A3320
HARMONDSWORTH Waterloo
MOOR WESTMINSTER SOUTHWARK
HAMMERSMITH A4
M4 LAMBETH
Victoria
M4 A4 Vauxhall
CHISWICK
A4
HESTON A30
BATTERSEA BATTERSEA
PARK
FULHAM
KEW A202
GARDENS Clapham
LONDON HEATHROW Barnes Junction
Hounslow Richmond
A205 A3205
M25 Putney
HOUNSLOW RICHMOND BRIXTON
CLAPHAM
A30 COMMON
WANDSWORTH A23
Whitton Twickenham A3 CLAPHAM DULWICH
Feltham
FELTHAM A312 TWICKENHAM BALHAM
RICHMOND PARK
Strawberry Hill A205
A316
Ashford A24 FO
Staines
HANWORTH
Fulwell H
WIMBLEDON WIMBLEDON
COMMON
STAINES
A308
Kempton Park
Kempton Park ROAD
Racecourse
LOCATION A316 0.6 miles
LONDON WATERLOO
Hanworth is located in the London Borough of Hounslow, M3 (Junction 1) 2.3 miles
approximately 2.5 miles west of Twickenham, 2 miles south of Nearby Feltham (Travelcard Zone 6) and Whitton (Travelcard Zone 5)
train stations provide direct services to London Waterloo station, M4 (Junction 3) 4.3 miles
Hounslow 13 miles west of Central London.
with a journey time of approximately 30 minutes. M25 (Junction 13) 7.4 miles
Hanworth benefits from West London’s excellent connectivity to
major roads and the property is situated 2.3 miles to Junction Feltham Train Station is 1.1 miles to the north west of the premises
1 of the M3, which in turn provides direct access to the M4 and providing 6 trains per hour to Waterloo and Whitton Train Station PUBLIC TRANSPORT
M25. Hanworth was split into two in the 1970s by the constriction is 1.8 miles to the north east of the premises providing 2 trains per From Feltham Train Station
of an M3 feeder road, the A316 which intersects Hampton Road hour to Waterloo.
Clapham Junction 18 mins
0.6 miles to the south of the property.
Waterloo 29 mins
Vauxhall 29 mins
Clapham London Reading 53 mins
Feltham Whitton Richmond Junction Waterloo Victoria Bridge Paddington
AIR
7 mins 18 mins 29 mins 30 mins 44 mins 1 hr
1.8 miles 1.1 miles London Heathrow 9 mins
London Gatwick 40 mins
REX HOUSE
25-43 HAMPTON ROAD WEST, HANWORTH, LONDON, TW13 6AP
SITUATION
The property is situated on the southern side of the popular opposite and near the subject property including Greggs, KFC,
Hampton Road West (A312), near to its junction with Mount Road. Tesco Express, Boots, and Sainsbury’s.
The immediate area is a mix of residential and industrial Due to Hanworth’s excellent infrastructure links, it has become
premises and include nearby occupiers such as Screwfix, Wickes, one of West London’s prime industrial and warehouse locations
Toolstation, Dulux, Homebase and Selco. with links to the M3, M4 and M25. Over the years, Hanworth has
There is also a good number of strong retail occupiers directly grown its offer of trade and retail occupiers evidenced by the
cluster of such uses around the subject property.
© Crown Copyright, ES 100004106. For identification purposes only.
REX HOUSE
25-43 HAMPTON ROAD WEST, HANWORTH, LONDON, TW13 6AP
1. Ground Floor - Commercial accommodation
providing 5 retail units.
DESCRIPTION
2. First Floor - Kerr House: 11 flats let on ASTs.
The property comprises a seven storey building of concrete 3. Second to Sixth - Rex House: 21 flats held
construction providing a parade of retail accommodation on long leasehold basis. 4
on the ground floor and residential accommodation above.
4. Roof level - Telecommunications.
There are 5 retail units, a car forecourt and 32 purpose-built flats
(of which 21 are sold off on long leases) with a large site at the rear
providing allocated parking.
Unit Trading as Total Sq m Total Sq ft
3
1 Subway 62.7 675
2 Delikatesy Koziolek 71.5 770
3 Cantinho Sao Vicente* 62.95 678
4-5 Ladbrokes* 126.1 1,357
Car Forecourt Enterprise Rent-A-Car 179.4 1,931
Total 502.65 5,411
2
*Floor Area – attained from the VOA website, Allsop have been unable to
gain internal access
Kerr House (1st Floor) was previously used as office accommodation
and converted to provide 11 flats in 2014. These flats are currently 1
let on Assured Shorthold Tenancies (see Tenancy section) and are
accessed via a double door entrance facing onto Hampton Road
West with fire exit provisions at the rear of the property.
Kerr House Accommodation Floor Area Sq ft
Flat 1 1 bed 495
Flat 2 1 bed 570
Flat 3 2 bed 657
SITE AREA
Flat 4 1 bed 549 0.76 acres (0.31 hectares)
Flat 5 1 bed 592
Flat 6 1 bed 452 SITE COVER
Flat 7 2 bed 646 36%
Flat 8 1 bed 474
TENURE
Flat 9 1 bed 517
Freehold
Flat 10 1 bed 495
Flat 11 1 bed 538 TENANCY
*Residential Floor Areas have been provided by the vendor. The property is let as per
the tenancy schedule
Rex House is the tower element of the property which provides
residential accommodation held on long leasehold basis on the on the following page,
second to sixth floors. Please refer to Tenancy section.
LARGE SITE WITH POTENTIAL TO EXTEND EXISTING producing a total income
BUILDINGS OWING TO THE LOW EXISTING SITE COVER. of £277,465 per annum.
REX HOUSE
25-43 HAMPTON ROAD WEST, HANWORTH, LONDON, TW13 6AP
TENANCY SCHEDULE
Unit Tenancy Tenant Name (Guarantor) Floor Area Lease Rent Lease Expiry WAULT WAULT Contracted Rent Comments
Type (sq ft) Start Review Expiry Break (£ p.a.)
Unit 1 Lease Subway Realty Limited 675 28/12/2005 14.99 4.99 £13,500 Tenant is currently holding over. New 15 year lease
being agreed to include a Tenant break option at year
5 & 10. 5 yearly upward only rent review. Vendor is to
top up 6 month rent free period granted to the tenant.
Unit 2 Lease Mr Grzegorz Sienko & Mrs Katarzyna Sienko 770 07/01/2016 07/01/2021 06/01/2026 4.90 4.90 £15,000 Rent Review: 7th Jan 2021.
Unit 3 Lease Mr Jose Bernardino Goncalves Pachecho* 678 30/03/2015 29/03/2025 4.13 4.13 £15,000 VOA floor areas used.
Unit 4 & 5 Lease Ladbrokes Betting & Gaming Limited** 1,357 03/11/2008 03/11/2021 0.73 0.73 £26,300 VOA floor areas used.
Car Forecourt Lease Enterprise Rent-a-Car Ltd 1,931 16/01/2007 16/01/2022 15/01/2027 5.93 5.93 £41,750 Rent Review: 16th January 2022.
Roof Site 1 Lease Hutchison 3G UK Limited - 16/10/2002 15/10/2012 0.00 0.00 £15,811 Tenant is holding over.
Roof Site 2 Lease Cornerstone Telecommunications Infrastructure Limited (CTIL) - 26/04/2017 25/04/2037 16.21 16.21 £19,000
KERR HOUSE 5,411 6.23 4.99 £146,361
Flat 1 (1 bed) AST Private 495 09/09/2017 08/09/2021 £10,800
Flat 2 (1 bed) AST Private 570 10/10/2016 09/10/2021 £11,440
Flat 3 (2 bed) AST Private 657 30/09/2016 29/09/2020 £13,260 Tenant is holding over.
Flat 4 (1 bed) AST Private 549 19/10/2018 18/10/2019 £11,180 Tenant is holding over.
Flat 5 (1 bed) AST Private 592 07/06/2018 06/06/2019 £11,700 Tenant is holding over.
Flat 6 (1 bed) AST Private 452 20/04/2019 19/04/2022 £10,764
Flat 7 (2 bed) AST Private 646 15/05/2015 14/05/2021 £14,400
Flat 8 (1 bed) AST Private 474 17/03/2018 16/03/2022 £11,700
Flat 9 (1 bed) AST Private 517 28/05/2015 27/05/2021 £11,040
Flat 10 (1 bed) AST Private 495 17/08/2019 16/08/2021 £11,400
Flat 11 (1 bed) AST Private 538 10/12/2018 09/12/2019 £10,920 Tenant is holding over.
Car Parking Space (#28) Licence Individual 18/09/2020 17/09/2021 £500 Break Option: 17/09/2021
REX HOUSE 5,985 £129,104
Flat 8 - 27 Long Leasehold Private - 24/06/1979 14/06/2104 20 x £100 p.a. ground rent £2,000
Managing Agent Flat Long Leasehold Private - 01/01/2016 31/12/2140 £0
£2,000
TOTAL 11,396 £277,465
*Additionally to the above, there is an opportunity to increase the rent by letting a currently vacant Roof Telephone Mast & a c. 100 sq ft storage unit in the rear yard, available with a parking space. **Residential floor areas have been provided by the vendor.
Section 5b Notices under the Landlord & Tenant Act 1987 have been served on the qualifying residential long lease holders
REX HOUSE
25-43 HAMPTON ROAD WEST, HANWORTH, LONDON, TW13 6AP
TENANT’S COVENANTS:
Ladbrokes Betting & Gaming Limited – Very Low Risk (93) Hutchison 3G UK Limited (Three) – Low Risk (82) Subway Realty Limited – Maximum Risk (13)
Ladbrokes Coral is a British betting and gambling company, based Hutchison 3G UK Limited is a British telecommunication and internet service Subway is an American fast food restaurant franchise and the world’s largest
in London, who recently acquired Gala Coral Group, and changed provider, trading as Three, and is the fourth largest mobile network operator sandwich chain with more than 44,000 locations around the world. Subway
its name to Ladbrokes Coral Group. The above covenant is a subsidiary in the UK with over 13 million subscribers. Three network offers mobile and Realty Limited is a subsidiary of Subway International Holdings BV and
of Ladbrokes Coral Group Limited. internet packages using their sophisticated and extensive coverage network is the property arm of the franchise used for the acquisition of the large
across the UK. They are one of the leading companies in 5G technology. majority of UK’s Subway properties.
The last three years financial figures show the below results: The last three years financial figures show the below results: The last three years financial figures show the below results:
31 Dec 2019 31 Dec 2018 31 Dec 2017 31 Dec 2018 31 Dec 2017 31 Dec 2016 31 Dec 2019 31 Dec 2018 31 Dec 2017
Turnover £983,371,000 £732,366,000 £766,519,000 Turnover £2,379,281,000 £2,357,044,000 £2,203,170,000 Turnover £40,641,235 £35,107,808 £35,424,835
Pre-Tax Profit £432,204,000 -£43,794,000 -£166,483,000 Pre-Tax Profit £72,665,000 £356,573,000 £304,149,000 Pre-Tax Profit £925,049 £1,530,929 £1,741,628
Total Net Worth £1,117,459,000 £730,285,000 £761,750,000 Total Net Worth £3,294,998,000 £3,390,087,000 £3,047,968,000 Total Net Worth £325,198 £1,574,725 £4,337,408
Enterprise Rent-a-Car UK Ltd – Very Low Risk (93) Cornerstone Telecommunications Infrastructure Limited
Originally an American car rental company, it is one of the most prominent – Very Low Risk (93)
car and van hire companies in the UK, with over 470 branches. Enterprise Cornerstone Telecommunications Infrastructure Limited is a British
offer a wide range of membership options depending on the frequency company that operates radio mast infrastructure. The company was formed
customers require a hire vehicle. in 2012 as a joint venture between the mobile phone operators Telefónica
The above covenant is the strongest covenant within the group with the and Vodafone. Cornerstone rooftop located urban base stations provide
highest turnover and net worth figures. vital connectivity for our major towns, cities, public and leisure spaces.
The last three years financial figures show the below results: The last three years financial figures show the below results:
31 Jul 2019 31 Jul 2018 31 Jul 2017 31 Mar 2020 31 Mar 2019 31 Mar 2018
Turnover £975,330,000 £876,490,000 £820,690,000 Turnover £341,200,000 £340,936,000 £354,964,000
Pre-Tax Profit £29,122,000 £18,623,000 £9,037,000 Pre-Tax Profit -£99,141,000 -£101,607,000 -£93,011,000
Total Net Worth £119,807,000 £175,232,000 £155,209,000 Total Net Worth £304,989,000 £411,863,000 £517,277,000
EPC
EPCs are available in the dataroom.
VAT
The property is elected for VAT and it’s anticipated
the transaction will be treated as a transfer of
a going concern (TOGC).
ANTI-MONEY-LAUNDERING
A successful bidder will be required to provide
information to satisfy the AML requirements
when Head of Terms are agreed.
DATAROOM
For access to the Allsop dataroom please email
gergo.petrovics@allsop.co.uk
PROPOSAL
We are instructed to seek offers in excess of £3,500,000 (Three Million and Five Hundred Thousand) subject to contract
and exclusive of VAT. A purchase at this level reflects a Net Initial Yield of 7.44% after allowing for purchaser’s costs of 6.50%.
Please note the property will be sold at Allsop’s 23rd March online Auction. No bids will be accepted prior.
For further information or to make arrangements for viewing please contact:
NATIONAL INVESTMENTS COMMERCIAL AUCTIONS
Alex Butler Gergo Petrovics Doug Guild
07801 219 888 07961 234029 07745 536150
alex.butler@allsop.co.uk gergo.petrovics@allsop.co.uk doug.guild@allsop.co.uk allsop.co.uk
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 02.21
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