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EGHAM – 195-198 HIGH STREETAffluent London commuter town Investment Opportunity, with massing potential (STPP)

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2INVESTMENT SUMMARY

• Situated in Egham, an affluent and vibrant university town on the outskirts of Greater London.

• Egham has fantastic road and transport infrastructure which has made it popular amongst London commuters.

• 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 Royal Holloway University.

• A £60 million redevelopment is taking place within Egham Town Centre providing modern retail and residential space.

• Let to two long-established independent businesses, plus a popular takeaway business.

• Nearby tenants include:

• Freehold

Price: £1,500,000

Rent: £103,000 per annum

Yield: 6.47%

Capital Value: £300 psf

Based on the fixed rental uplifts, the running yield until 2024 will be as follows:

Date Yield

Dec - 2021 6.63%

Dec - 2022 6.91%

Dec - 2023 7.07%

Dec - 2024 7.23%

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LOCATION

Egham is a university town in the Borough of Runnymede in Surrey, approximately 20 miles east of central London and 18 miles to the west of Reading.

University of London Royal Holloway College with its population of circa 10,000 students lies approximately 1 mile away at Englefield Green. Strode’s Sixth Form College is situated under 300 meters to the east of the subject property and currently 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.

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H E R T F O R D S H I R E

E S S E X

K E N T

S U R R E Y

B E X L E Y

N E W H A M

C I T Y O FL O N D O N

Sevenoaks

Shoreham

Eynsford

Leatherhead

Ashtead

Dorking

Fetcham

Ripley

Reigate Redhill

Croydon

Beckenham

Upper Norwood

BromleySwanley

Dartford

GraysErith

Chigwell

Epsom

Ewell

Cheam

Carshalton

Putney

HackneyCanonbury

Islington

Shoreditch

Marylebone

Hampstead

Hendon

Cricklewood

Colindale

EdgwareStanmoreMill Hill

GoldersGreen Highgate

Crouch End

EastFinchley

St John’sWood

Camden Town

KentishTown

Leyton

Friern Barnet

Cockfosters

Stoke Newington

Goodmayes

Camberwell

BermondseyRotherhithe

Stepney

Westminster

Maida Vale

Notting Hill

Shepherd’sBush

Kensal Green

Deptford

New MaldenWimbledonEGHAM

Esher

Hampton

Teddington

Twickenham

Whitton

ChiswickBrentford

IsleworthHounslow

Heston

Feltham

HEATHROWAIRPORT

Ealing

WembleyNortholt

Neasden

Queensbury

Kingsbury

Willesden

St Margarets

Sunbury

Claygate

Surbiton

EastMolesey

Woking

Chertsey

Chobham

Guildford

West Clandon

East Horsley

Cobham

Oxshott

Chessington

Worcester Park

MordenMitcham

StreathamCrystalPalace

Purley

Banstead

Burgh Heath

Tadworth

Walton on the Hill

Stoke D’Abernon

Weybridge

Walton-on-Thames

Sutton

Raynes Park

Orpington

Petts Wood

ChislehurstKingston upon Thames

Richmond

Kew

Perivale

Sudbury

Harrowon the Hill

Kenton

Greenford

SouthallHayes

Hillingdon

Acton

Barnes

Ham

Woolwich

Thamesmead

PurfleetCharlton

Barnet

TottenhamFinchley

Borehamwood

Radlett

Oxhey

Hornsey

Winchmore Hill

Palmers Green

Potters Bar

Hadley Wood

Enfield

Edmonton

Wood Green

MuswellHill

EnfieldLock

Harrow

Wealdstone

Ruislip Pinner

Yeading

Uxbridge

IverHeath

Northwood

Rickmansworth

BovingdonKings Langley

Caterham

Godstone

Oxted

Westerham

Biggin Hill

Merstham

Bletchingley

Kingswood

Coulsdon

Kenley

Sidcup

Bexleyheath

CatfordForest Hill

Hayes

Downe

Keston

Penge

Tulse Hill

ThorntonHeath

West Wickham

Eltham

Plumstead

EastWickham

Lewisham

Blackheath

Greenwich

Poplar

Bow

Highbury

Hale End

Stratford

Upper Clapton

Lower Clapton

Leytonstone

ForestGate

Walthamstow

HighamHill

Woodford

Chingford

Loughton

Theydon Bois

Epping

Chipping Ongar

Buckhurst Hill

Plaistow

Upton Barking

Clayhall

Barkingside

Gants Hill

Highams Park

ChadwellHeathNewbury

Park

Ilford

Dagenham

Becontree

Rainham

Elm Park

Romford

Gidea Park

SouthOckendonBeckton

East Ham

Limehouse

Isle ofDogs

Dulwich

BatterseaFulham

Hammersmith

Wandsworth

Kennington

Vauxhall

Strand

Kilburn

PeckhamBrixtonClapham

Warlingham

New Addington

Brentwood

UpminsterHornchurch

Harold Hill

Collier Row

Grange Hill

WalthamAbbey

Hainault

Cheshunt

Staines

Gerrards Cross

ChelfontSt Peter

Virginia Water

Watford

Bushey

CITYAIRPORT

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DEMOGRAPHICS

In 2018, Egham boasted an affluent population of around 28,000, with around 30% being classed as of AB social status indicating high amounts of disposable income (CityPopulation).

The town has attracted several major office occupiers including Proctor & Gamble, Centrica /British Gas, Future Electronics, Belron and Kerry Foods. Smaller local companies also are attracted to Egham such as Wilkins Kennedy and Menzies due to the towns close proximity to London and excellent infrastructure.

Royal Holloway University is situated 1 mile to the east of Egham town centre and currently has well in excess of 10,000 students attending. The university is ranked in the top 300 universities worldwide by the Times Higher Education World University Rankings. Strode’s Sixth Form

College is situated in the town centre, with a student population of approximately 1300. This large student population within Egham brings with it a large amount of disposable income which can only benefit businesses within Egham.

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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.

CGI of Egham Gateway West Development

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DESCRIPTIONThe 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.

SITUATIONThe 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:

Royal Holloway University

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TENANCY SCHEDULE & ACCOMMODATION

Address Tenant Lease Term Start Date End Date Rent (p/a) Area (sq ft)* Comments

195 High Street Pepperstitch Design Limited

6 years 01/08/2019 31/07/2025 £25,500 1,200

Stepped Rent:01/08/2020 – 31/07/2022 – £25,500 pa01/08/2022 – 31/07/2024 – £27,500 pa01/08/2024 – 31/07/2025 – £30,000 pa

198 High StreetCheeky Chicken and Grill Limited

15 years 16/04/2020 15/04/2035 £32,500 1,300

5 yearly rent reviews higher of OMV or RPI.Stepped Rent:16/04/2020 – 15/04/2021 – £32,500 pa16/04/2021 – 15/04/2023 – £35,000 pa16/04/2023 – £37,500 pa

196-197 High Street (First Floor)

Tecnica Building Services Limited

5 years 01/08/2019 31/07/2024 £45,000 2,500Stepped Rent: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

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 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.

Tecnica Building Services Limited

Cheeky Chicken and Grill Limited

Pepperstitch Design Limited

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50 metres

For more information on our products and services:www.experian.co.uk/goad | goad.sales@uk.experian.com | 0845 601 6011

Egham

Experian Goad Plan Created: 19/10/2020 Created By: Fawcettmead

Copyright and confidentiality Experian, 2020. © Crown copyright anddatabase rights 2020. OS 100019885

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Located on High Street, the towns principal retail thoroughfare.

VAT We understand that the property is elected for VAT. It is anticipated that the sale will be treated as a transfer of a going concern (TOGC).

EPCA copy of the Energy Performance Certificate is available upon request.

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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 CONTRACTDesigned by Graphic Outlines Ltd 2020

FURTHER INFORMATION

PROPOSAL

We have been instructed to seek offers in excess 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%.

Graham Fawcettgraham@fawcettmead.co.uk020 7182 748207980 548 852

Joe Baiojoe@fawcettmead.co.uk020 7182 748907515 889 649

Patrick Kilvington patrick@fawcettmead.co.uk 020 7182 748607860 625 512

Egham Gateway West Development