Retail Investment Opportunity

Roche BoboisUnits A & BEast HillWandsWORth London, SW18 1JS

UNITS A & B, EAST HILL, WANDSWORTH LONDON, SW18

Investment summary

• Let to the excellent covenant of Roche Bobois Ltd (Paris) exclusive furniture.

• Superb prominent retail unit and gym built in 2007.

• Located in an affluent growth area of Wandsworth.

• Highly visible retail unit constructed in 2007 as part of a new apartment block.

• 150 year lease at a peppercorn.

• Offers in the order of £940,000.

• Net initial yield 7.25%, rising to 7.44% in October 2012 and 7.65% in October 2013.

UNITS A & B, EAST HILL, WANDSWORTH LONDON, SW18

River Thames

BatterseaPark

Hyde ParkGreen Park

SpencerPark

WandsworthCommon

Earls CourtExhibitionCentre

StamfordBridge

Chelsea FC

Finborough Road

Chelsea

Embankment

Wandsw

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Battersea

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Road

Sloane Street

LWR Sloane St Chelsea Bridge Rd Q

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Queenstow

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Fulham Broadway

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Warwick Road

New King’s R

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Battersea Bridge Road Latchm

ere Road Elspeth Rd

Oakley Street Albert Bridge Road

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Vic

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es. W

estbridge Rd

Sw

ando

n Way Trinity Road

Putney Bridge Road

East Hill

St. Johns H

ill

Lavender

Hill

W

andsworth Road

Falcon Road St. John’s Rd Northcote Rd

Kensington High Street

Kensington Road

Knightsbridge

C

romwell Road C

romwell Road

Road

Onslow Pl Sydney Street

Thurloe Place

Earls Court Road Radcliffe Gardens Edith Grove

Ecclestone Street Belgrave Road

North End Road

The Avenue

Clap

ham

Com

mon

Sou

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de

Pimlico

Brompton

Chelsea

Battersea

SouthKensington

BelgraviaVictoria

WestBrompton

FulhamBroadway

ParsonsGreen

Earls Court

GloucsterRoad

High StreetKenshington

South Kensington

SouthKensington

Knightsbridge

SloaneSquare

QueenstownRoad

ClaphamJunction

WandsworthTown

TRINITY COURT

Trinity Courtis outside the Congestion Zone

Wandsworth West Hill

Wandsworth High St East Hill

A3

Wandsworth Common Battersea Rise Clapham Common North Side

WandsworthRichmond

Putney

Battersea

Clapham

TootingCommon

Wimbledon

Kingston

Teddington

Twickenham

Chelsea

Fulham

Pimlico

TRINITY COURT

M4

sat naV: sW18 1Js

Location

The borough of Wandsworth is located in south west London approximately 2.5 miles north of Wimbledon, a similar distance to south of Fulham, 5 miles east of Richmond and 4 miles south west of central London.

Wandsworth has excellent transport communications being positioned on the A3 and A205 South Circular. The A3 is mostly dual carriageway and provides links to Kingston and further connects the M25 Motorway, about 20 miles to the south west.

Public facilities are also excellent with Wandsworth Town main line station linking with Clapham Junction, Vauxhall and Waterloo stations. District Line underground services are 5 minutes walk at both East Putney and Southfields stations. The river taxi service stops at the pier at Riverside Quarter offering commuters an alternative to conventional public transport reaching Blackfriars in only 35 minutes.

UNITS A & B, EAST HILL, WANDSWORTH LONDON, SW18

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ISH

RO

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PHO

ENIX W

AY

EAST HILL

WANDSWORTH COMMON (A3)

WANDSWORTH COMMON

A

B

A3

A3

TRINITY RO

ADsituation

The property is situated in Wandsworth adjacent to Trinity Road (A214) which is a dual carriageway and just 300 yards to the ‘sculpture’ on York Road roundabout, and 400 yards to Wandsworth Bridge and the River Thames.

Wandsworth Common at the top of East Hill, has some of the most expensive townhouses in London across from Bellevue Road containing several boutiques and the famous restaurant Chez Bruce where chef Gordon Ramsay learned his trade. The Roche Bobois shop and Ice Gym therefore have a very wealthy indigenous catchment.

UNITS A & B, EAST HILL, WANDSWORTH LONDON, SW18

description

The properties form part of a modern purpose built development constructed in 2007 with 130 apartments and comprise a retail unit and a gym arranged at ground floor. The Roche Bobois has an extensive frontage of some 120 ft and the units have the following approximate floor areas:

sq ft sq m

Unit A 3,709 344.57

Unit B 653 60.67

total 4,362 405.24

tenure

The property is held on a lease for a term of 150 years from 1st June 2005 at a peppercorn.

The Roche Bobois Unit has the benefit of 1 car parking space in a secure basement car park. Customer parking is on street as the residents car parking restrictions are not in force within trading hours.

Planning

The units both have the benefit of planning consent for A2, A3, B1 or D1 uses whilst Unit A has also planning for A1 retail.

tenancies

The property currently produces a total income of £72,000 pax as follows:

Unit a The property is let on an FRI basis to Roche Bobois Ltd for a term of 15 years from 7th May 2008 at a current rental of £60,000 pax subject to 5 yearly upward only rent reviews. There is a tenant break clause on 6th May 2018.

Unit B The property is let on FRI terms to Integrated Core Exercise (ICE) Ltd for a term of 10 years from 1st October 2010 subject to an upward only rent review at the 5th year at a current rental of £12,000 pax. The rent increases as follows:

1st October 2012 – 30th September 2013 £14,000 pax

1st October 2013 - £16,000 pax

The Roche Bobois is let off a modest rent of £16/sq ft which we believe is reversionary.

UNITS A & B, EAST HILL, WANDSWORTH LONDON, SW18

Covenants

Roche Bobois Ltd are a high end Parisian furniture maker and with retail locations worldwide. In the UK they trade from 8 stores, Harrods in Knightsbridge, 2 stores in Wandsworth and 2 stores in Finchley Road Swiss Cottage London NW3, Walton on Thames, Manchester and Liverpool. They are part of Roche Bobois International, with the ultimate Holding Company being Sofimagest SA.

Click to visit the Roche Bobois website.

The latest accounts were filed 31st 12/2009.

There is a rent deposit of £35,250.

The company has a rating of ‘Very Low Risk (Confidence).

date Of accounts 31/12/2009 31/12/2008 31/12/2007

GBP 000 GBP 000 GBP 000

net Worth 1,416 1,406 1,604

turnover 12,543 11,220 8,392

Pre-tax Profit 389 458 1,367

Integrated Core Exercise (ICE) Ltd – ICE Gym is a newly opened gym and is fitted out to a high standard with the latest equipment. There are no accounts filed yet for this company. There is a rent deposit of £3,250.

UNITS A & B, EAST HILL, WANDSWORTH LONDON, SW18

Proposal

Offers in excess of £940,000 are invited for our client’s leasehold interest. A purchase at this level will show the following running yield after allowance for purchasers costs at 5.75%:

Initial Yield 7.25%October 2012 7.44%October 2013 7.65%

Contact

For further information or an inspection please contact:

Paul Gale Bsc FRICsPROPIM 33 Cork Street, London W1S 3NQTel: 020 7292 9001Mob: 07740 843844email: paul.gale@propim.co.uk

MISREPRESENTATION ACT 1967 – PROPIM Ltd for themselves and for the vendors of this property whose agents they are, give notice that : All descriptions, dimensions, reference to condition and necessary permissions for use and occupation and other details are given without responsibility and any intending purchasers should not rely on them as statements or representations of fact but must satisfy themselves by inspection or otherwise as to the correctness of each of them. These particulars are produced in good faith and set out as a general guide only and do not constitute part of any offer or contract. March 2011