THE BROADWAY 1-5 181 - 199 TOOTING HIGH STREET LONDON SW17 - Allsop
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1–5
THE BROADWAY
181 – 199 TOOTING HIGH STREET
LONDON SW17
INVESTMENT SUMMARY Virtual Freehold by way of a 999 year lease at a peppercorn ground rent Located approximately 400m south of Tooting Broadway Underground station Four ground floor commercial units totalling 15,882 sq ft (1,475.5 sq m) within an attractive new build development Multi-let producing £302,826 per annum Low rental base at an average of £19.69psf WAULT of 15.0 years to lease expiries and 7.5 years to breaks 38% of income benefits from RPI linked rent reviews Offers are sought in excess of £4,545,000. A purchase at this level would reflect a Net Initial Yield of 6.25% assuming adjusted purchaser’s costs of 6.57%.
Tooting
Broadway
200 metres
LOCATION
The property is located within Tooting, in the affluent London Borough of Wandsworth. It is
situated on the east side of Tooting High Street to the north of its junction with Trevelyan Road. 1–5
THE BROADWAY
The surrounding area offers a wide variety of shops, bars, restaurants and leisure facilities.
Nearby occupiers include Sainsburys, Boots, The Chicken Shop (Soho House Group), Honest
Burger, HSBC, Halifax, Starbucks, New Look and an extensive range of local occupiers.
TRANSPORT
The property benefits from excellent communications being within a four minute walk of Tooting
Broadway London Underground station (Northern line) and 0.6 miles from Tooting rail station which
has regular direct Thameslink services to London Blackfriars and onwards to City Thameslink,
Farringdon and St Pancras International all within a journey time of 34 minutes. The area is expected
to benefit from the arrival of Crossrail 2 with Tooting Broadway and Balham stations having been
safeguarded. This could reduce the journey time to London Victoria to as little as 10 minutes. A number
of bus routes also serve Tooting High Street providing onwards access to Central and Greater London.
AD
RO
DU
FISHPONDS PLAYING TOOT
ING B
G
FIELD EC RO
RN
TIN
AD
SFO
OO
WIMBLEDON
GREYHOUND
GA
R RA
RT
RD
STADIUM
TT
PE
LA
NE
RO
NE
UP
LA
AD
U GH TOOTING BEC
O ATHLETICS TRACK
PL & GYM
1–5
ET
RE
THE BROADWAY
ST
TOOTING BROADWAY
GH
HI
NORTHERN LINE
G
IN
ST GEORGE’S
OT
HOSPITAL
M
TO
WANDLE MEADOW
IT
NATURE PARK
CH
AM
HAYDON
ROAD
D
OO
KaoSarn
S ROAD
SW
IER
TOOTING
LL
CO
WANDLE PARK Anytime
N
ET
Fitness
RE
COLLIERS WOOD
ST
GH
NORTHERN LINE
HI
AD
ET
LONDON ROAD
HIGH STRE
RO
MERTON
AM
Screwfix
SOUTH WIMBLEDON
TH
EA
TANDEM
R
NORTHERN LINE FIGGE’S
ST
SHOPPING
CENTRE MARSH
Topps Tiles
Maps and plans for illustrative
purposes only. Not to scale.
DESCRIPTION
The property comprises a newly built five storey
building arranged as four commercial units over the
ground floor, with four upper floors comprising 83
self-contained residential units which have been sold Unit 5 Units 2 & 3
off on long leases. The property has an extensive
frontage to Tooting High Street. Unit 4 Unit 1
The four commercial units are currently arranged as
two retail units, a restaurant and a 24-hour gym.
TENURE
Virtual Freehold. The property is held by way of a
999 year lease from 25 September 2015 at a peppercorn
ground rent.
UNIT 5 UNIT 4 UNITS 2 & 3 COMBINED UNIT 1
2,953 sq ft 4,862 sq ft 6,407 sq ft 1,660 sq ft
(274.4 sq m) (451.7 sq m) (595.2 sq m) (154.2 sq m)
Commercial Unit 4 Commercial Unit 1
Commercial Unit 2 and 3 Combined GIA: 177.53 sq.m
GIA: 437.31 sq.m
GIA: 595.26 sq.m 1910.9 sq.ft
4707.2 sq.ft
Commercial Unit 5 6407.3 sq.ft
GIA: 274.37 sq.m
2953.3 sq.ft
T O O T I N G H I G H S T R E E T
No
rth
Residential
entrance
Residential Residential entrance
entrance
Post Boxes Post Boxes
Ramp
Ramp
Post Boxes
Elec LPHW A3 Water
Lift A3
200mm
High base
Lift
Water LPHW A3
Water
Elec 200mm
High base
200mm
High base
Stairs
A3
200mm
High base
Stairs
Lift Stairs
Stairs
Retail Bin
Store Plant room
A TOTAL AREA OF
15,882 SQ FT (1,475.5 sq m) Retail Bin Store Resi Bin Store
Plans for illustrative purposes only & not to be relied upon. Not to scale.
TENANCIES & ACCOMMODATION
PASSING RENT
UNIT TENANT USE AREA TERM LEASE LEASE RENT TENANT (PA) (PSF) COMMENTS
(SQ FT) (YEARS) START EXPIRY REVIEWS BREAK OPTION
1 KaoSarn A3 1,660 20 27/01/2016 26/01/2036 5 yearly 27/01/2031 £35,000 £21.08 A rent deposit of £26,250 is held.
2–3 Anytime D2 6,407 15 29/09/2015 28/09/2030 5 yearly 29/09/2025 £115,326 £18.00 RPI linked rent review cap and collared
Fitness between 3-5%. A rent deposit of £60,000
is held. 2 car parking spaces included.
4 Screwfix A1 4,862 15 10/12/2015 09/12/2030 5 yearly 10/12/2020 £90,000 £18.51 1 car parking space included.
5 Topps A1 2,953 15 04/08/2016 03/08/2031 5 yearly 04/08/2021 £62,500 £21.16 2 car parking spaces included.
Tiles 04/08/2026
TOTAL 15,882 £302,826
SCREWFIX DIRECT LTD KAOSARN
Screwfix is the UK’s largest supplier of Trade Tools, Plumbing, Electrical, KaoSarn is an independent family run Thai restaurant with an established
Bathrooms and Kitchens with over 400 stores nationwide. Screwfix is part presence in two other south London locations being Brixton, London SW8
of Kingfisher plc, a home improvement company with over 1,100 stores in 10 and St John’s Hill, London SW11.
countries in Europe, Russia and Turkey. Its main brands are B&Q,
Castorama, Brico Dépôt and Screwfix. A rent deposit of £26,250 is held.
Dun & Bradstreet reports a 5A1 rating for Screwfix Direct Limited based on a
turnover of £835,569,000 and a pre-tax profit of £62,006,000 for the year
ending January 2015.
ANYTIME FITNESS LONDON LTD
Anytime Fitness gym franchise concept is a 24-hour gym that has over 50
TOPPS TILES (UK) LTD clubs in the UK, 20 of which are situated within the M25. The Anytime Fitness
franchise is also an international operation with over 3,000 fitness clubs in 23
countries.
Topps Tiles, founded in 1963, is the UK’s leading specialist supplying tiles and
associated accessories to both a trade and retail customer base. Today the
Moreover, the franchise, established 10 years ago, was recently named the
company operates from over 330 UK stores.
Number One Top Global Franchise by Entrepreneur Magazine, surpassing
well-known brands such as McDonalds, Pizza Hut and Subway.
Dun & Bradstreet reports an N1 rating for Topps Tiles (UK) Limited which
represents a minimum risk of business failure. For the year ending October
A rent deposit of £60,000 is held.
2015 the company reported a turnover of £212,180,000 and a pre-tax profit
of £15,795,000.
INVESTMENT OPPORTUNITIES
Virtual Freehold retail investment in a popular south west London location
Guaranteed RPI linked rental uplifts on the gym unit
Opportunity for future capital growth as the area continues to improve economically
Retail and restaurant rental growth is widely expected in Tooting to reflect the success
of nearby Clapham, Balham, Brixton and Wandsworth
PROPOSAL
Offers are sought in excess of £4,545,000. A purchase at this level would reflect a
Net Initial Yield of 6.25% assuming adjusted purchaser’s costs of 6.57%.
VAT
The property is elected for VAT which will be chargeable on the purchase price. It is anticipated
that the transaction will be treated as a transfer of going concern (TOGC).
PLANNING EPC
The property is not listed and does not lie EPC’s available on request.
within a conservation area.
CONTACT
For further information or to make arrangements for viewing please contact:
MARK IBBOTSON HENRY LEIGHTON
Misrepresentation Act: The agents themselves
and for the vendors or lessor of this property
mark.ibbotson@allsop.co.uk henry.leighton@levyllp.co.uk whose agent they are, have taken all reasonable
020 7543 6879 020 7747 0126 steps to ensure the accuracy of these particulars
which are a general outline only and do not
constitute the whole or any part of an offer or
ANDY POINTON MATT PAULSON-ELLIS contract. The information is given in all good faith
but intending purchasers and lessees must satisfy
themselves independently as to the accuracy of
andy.pointon@allsop.co.uk matt.paulson-ellis@levyllp.co.uk all matters upon which they intend to rely.
020 7543 6720 www.allsop.co.uk 020 7747 0151 Designed by www.tlgd.co.uk 020 7384 1322
August 2016.
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