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KWIK FIT, 97 LONDON ROAD
HIGH WYCOMBE
WELL SECURED, PROMINENT, ROADSIDE
INVESTMENT OPPORTUNITY
KWIK FIT, 97 LONDON ROAD, HIGH WYCOMBE, HP11 1BU
INVESTMENT SUMMARY• A prominent purpose built automotive centre including a
forecourt and 12 space surface car park.
• Strategically located on the A4 arterial road accessed via the M40 providing excellent road communications.
• Affluent catchment within a 10 minute drive time.
• Well secured to Kwik Fit Properties Limited t/a Kwik Fit since 1998 (11 years unexpired)
• Guaranteed by parent company Kwik Fit Holdings Limited.
• Over two floors and a total site floor area of 6,980 sq ft (648 sq m) with a total site area of circa 0.16 acres
• Total current rent of £115,610.51 per annum.
• Freehold.
Offers sought
in excess of
£1,975,000
reflecting a
net initial yield
of 5.5%
Subject to Contract & Exclusive of VAT and net of graduated purchasers costs of 6.29%.
KWIK FIT, 97 LONDON ROAD, HIGH WYCOMBE, HP11 1BU WELL SECURED, PROMINENT, ROADSIDE INVESTMENT OPPORTUNITY
NOTE: For indicative purposes only.
GO
RD
ON
RO
AD
L O N D O N R O A D ( A 4 0 )
The Pheasant
Pub
High Wycombe Cricket Club
KWIK FIT, 97 LONDON ROAD, HIGH WYCOMBE, HP11 1BU
LOCATION High Wycombe is busy commercial centre in South Buckinghamshire. The town is located 30 miles
(48 kms) north west of Central London, 26 miles (42 kms) south east of Oxford and 23 miles (37
kms) north east of Reading. High Wycombe is a combination of industrial and market town, with
traditional emphasis on furniture production.
The town enjoys excellent road communications being conveniently located close to the M40 motorway
with access at both Junctions 3 and 4. The M40 provides direct access Oxford, Birmingham and
Central London (via A40). The M25 is located 10 miles (16 kms) to south east which in turn provides
access to the rest of the UK motorway network. High Wycombe railway station provides frequent
services to Central London (Marylebone) with a fastest journey time of 23 minutes, Oxford in a
journey time of 40 minutes and Birmingham (New Street) in 1 hour 20 minutes.
A3
A34
A34 A339
A303
A41
A40
A420
A10OXFORD
Aylesbury
WATFORD
READING
Newbury
Andover
Bracknell
Slough
Guildford
Crawley
Basingstoke
Stevenage
LUTON
LONDON
M25
M25
M23
M25
M1M40
M4
M3
M4
A1 (M)M1
M40
M11
HIGH WYCOMBE
KWIK FIT, 97 LONDON ROAD, HIGH WYCOMBE, HP11 1BU WELL SECURED, PROMINENT, ROADSIDE INVESTMENT OPPORTUNITY
DEMOGRAPHICS Within a 10 minute drive time of the subject property there is a total population of 132,683 persons
comprising 52,130 households. By 2020 the population within this drive-time is projected to increase
by 5%.
The catchment population is particularly affluent with social economic groups AB and C1 forming the
largest proportion whilst the least affluent DE social economic group is particularly under-represented.
SITUATIONThe immediate area is densely populated with residential dwellings aswell as other national
multiple road side operators including, Volkswagen, Ford and Majestic Wine, while the property
also adjoins ‘The Pheasant’ public house.
Daws Hill Ln Heath End Rd Heath End Rd
Mar
low R
d
W Wycombe Rd
De
sbor
ough
Ave
Amer
sham
Hill
Hat
ter’s
Ln
Ha
tter’s
Ln
Arch
Way
A40
A404
A
404
M
arlow
Hill
A40 A40 A40 A40
A4010M40
M40
M40
KWIKFIT
Eden Shopping Centre
BuckinghamshireNew University,High Wycombe
Campus
Cressex Business Park
RAF Daws Hill
High Wycombe Rail Station
KWIK FIT, 97 LONDON ROAD, HIGH WYCOMBE, HP11 1BU
DESCRIPTIONThe property comprises a purpose built tyre depot with ancillary accommodation on first floor of
approximately 6,980 sq ft (648 sq m). The property benefits from a roller shutter door and forecourt
providing approximately 12 car parking spaces.
ACCOMMODATIONThe accommodation is arranged as follows:
GIA sq ft GIA sq m
Ground Floor 3,615 336
First Floor 3,365 313
TOTAL 6,980 648
TENUREFreehold.
TENANCYThe property is let in its entirety to Kwik Fit Properties Limited t/a Kwik Fit on a 30 year Full Repairing & Insuring lease from 25th August 1998 expiring 24th August 2028 (11 years unexpired). Rent reviews are 5 yearly to Open Market Rental Value with the next review due 25th August 2018.
The property produces a current income of £115,610.51 per annum.
Kwik Fit’s ultimate parent company, Kwik Fit Holdings Limited, guarantee the lease.
KWIK FIT, 97 LONDON ROAD, HIGH WYCOMBE, HP11 1BU WELL SECURED, PROMINENT, ROADSIDE INVESTMENT OPPORTUNITY
COVENANT INFORMATION
Kwik Fit Properties Limited (Tenant) Kwik Fit Holdings Limited (Guarantor)
Financial Year End 31st March 2016 31st March 2016
D&B Rating 2A 1 4A 1
Profit / (Loss) Before Taxes £131,000 £14,000
Tangible Net Worth £2,222,000 £28,538,000
Net Current Assets (Liabilities) £2,222,000 £198,000
Kwik Fit are experts in automotive parts repair including tyres, brakes, exhausts, MOT testing, car servicing and air conditioning recharge.
The first Kwik Fit centre opened in 1971 and now operate from 600 stores across the UK.
EPCAn EPC for the property is available upon request.
VATThe property has been elected for VAT purposes and it is expected that the sale will be treated as a Transfer of Going Concern (TOGC).
PRIME, WELL SECURED, FREEHOLD, RETAIL INVESTMENT
MISREPRESENTATION These particulars do not constitute an offer or contract. They are intended as a guide to prospective purchasers. All reasonable care has been taken in the preparation of these particulars but their accuracy is not guaranteed. The purchaser should satisfy himself and as to the correctness of these details. Neither the agents nor the vendors or lessors are to be or become under any liability or claim in respect of these particulars. These particulars are supplied on the understanding that all negotiations are conducted through this office. October 2017. Adrian Gates Photography & Brochures 07710 316 991
FURTHER DETAILSFor further details or to arrange an inspection,
please contact:
Ed Smith 020 7659 4831
Patrick Over 020 7659 4832
PROPOSAL
Our client is seeking offers in excess of £1,975,000 (One Million, Nine Hundred and Seventy Five Thousand Pounds), subject to contract and exclusive of VAT, reflecting a Net Initial Yield of 5.5%, assuming graduated purchasers costs of 6.29%.
