153-161 Clarence Street

Kingston Upon Thames

Surrey, KT1 1QT

Substantial Freehold Prime Investment

In excess of 90% of the income to JD Wetherspoon Plc

for a further 21.5 years unexpired.

Location

Kingston Upon Thames is situated approximately 18 km (11 miles) south west of Central

London. Nearby centres include Staines approximately 18 km (11 miles) to the west with

Richmond Upon Thames approximately 5 km (3 miles) to the north.

The town benefits from excellent road communications being situated at the intersection of

the A307/A308. The A3, linking Central London to Portsmouth, is approximately 5 km (3

miles) to the east and connects with the M25 (junction 10) a further 21 km (13 miles) to the

south west.

Kingston Upon Thames mainline railway station provides a regular service to Central London

(Waterloo) in a fastest journey time of approximately 28 minutes.

Demographics

Kingston Upon Thames has a resident Urban Area population (2001) of approximately

146,873 with a District population (1994 estimate) within 10 km (6 miles) of the centre of

962,643 rising to 3,969,387 within 20 km (12 miles) of the centre.

The town has a skilled and affluent population with key demographic data set out below:

Mosaic Consumer Classification Kingston Upon Thames

(Urban Area)

Great

Britain

Symbols of Success 18.03% 9.70%

Suburban Comfort 24.20% 14.69%

Urban Intelligence 32.51% 7.35%

Class Groupings A, B & C1 (2001) 68.50% 51.10%

Household Owner Occupier (2001) 71.50% 68.30%

Claimant Count Unemployment Rate

(TTWA April 2009)

3.00% 4.30%

Situation

The property is well located with a substantial frontage to the west side of Clarence Street

and is strategically positioned adjacent to the prime retailing pitch with Kingston Upon

Thames mainline railway station 200 m to the north. The Rotunda Multiplex Leisure

complex is situated opposite.

Description

Originally built in 1910 the property is constructed with an attractive detailed masonry and

stonework facade and is arranged on basement, ground and two upper floors. The property

provides a ground floor retail unit with an A3 unit at basement, ground and part first floor

levels. The remainder of the part ground, part first and second floors are in the process of

being fitted out for use as a church, learning facility, offices and conference centre together

with a coffee shop facility to be added over the north open terrace.

Tenure

Freehold subject to the benefit of the long leasehold interest as outlined in the attached

tenancy and accommodation schedule.

The property benefits from a right of way over the land hatched brown on the attached OS

plan.

Tenancies

The investment is let on three effective full repairing and insuring leases in accordance with

the attached tenancy schedule.

Please see the attached tenancy and accommodation schedule.

Covenants

JD Wetherspoon plc, for the year ending 26 July 2009, reported a tangible net worth of

£162,835,000 and pre tax profits of £45,029,000 from a turnover of £955,119,000. Dun &

Bradstreet have provided a credit rating of 5A1.

For additional information please see www.jdwetherspoon.co.uk

London Church International, for the year ending 30 November 2008, reported a tangible net

worth of £858,667 and pre tax profits of £18,271 from a turnover of £603,390. Dun &

Bradstreet have provided a credit rating of 1A1.

For additional information please see www.lci.org.uk

Planning

The property is neither listed nor situated within a conservation area.

VAT

Our client has elected to waive their exemption from VAT and, as such, VAT will be payable

on the purchase price.

Pricing

Offers in excess of £4,290,000 (Four Million, Two Hundred and Ninety Thousand Pounds)

subject to contract and exclusive of VAT reflecting an initial yield of 6.25% net of purchase

costs at 5.7625%.

153-161 Clarence Street, Kingston Upon Thames - SCHEDULE OF TENANCIES & ACCOMMODATION

TENANT FLOOR USE LEASE RENT Term COMMENTS

ADDRESS Start Expiry Review PA Certain

sq m sq ft (Break) (ii)

JD Wetherspoon Plc 1 A3 / Ancill 526.00 5,662 25/12/1996 24/12/2031 25/12/2011 £257,500 21.50 years

153-157 Clarence Street G A3 864.06 9,301

B Storage 182.46 1,964

Sub Total 1,572.52 16,927

Messrs M Chauhdry G Retail 37.16 400 20/07/2007 19/07/2022 20/07/2012 £25,000 12.08 years Lease excluded from s24-28

& SM Khan of the L&T Act 1954.

161 Clarence Street

London Church 2 D1 801.26 8,625 08/04/2010 07/04/3009 08/04/2011 £1,000 998.75 years Rent is reviewed annually in

International 1 D1 411.64 4,431 accordance with RPI.

153-161 Clarence Street G Entrance 46.45 500 Tenant exempt from service

Sub Total 1,259.35 13,556 charge contributions for the

first 3 years of the term.

Total 2,869.03 30,883 £283,500

(i) Areas have been provided from our clients management records.

(ii) With effect from: 24/06/2010

ACCOMODATION

GIA (i)

Should you require additional information please contact:

6A Wimpole Street, London, W1G 8AL Tel: 020 7323 1010 Fax: 020 7323 6600 David Baroukh 020 7631 2244 david@dbaprop.co.uk  

 

153-161 Clarence Street, Kingston Upon Thames, KT1 1QT

 

153-161 Clarence Street, Kingston Upon Thames, KT1 1QT

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LLOYDS NO 1

(14 SCREENS)Kingston upon Thames

50 metres

Goad Digital 4/12/2009

Disclaimer on misrepresentation

David Baroukh Associates LLP for themselves, their Associated Companies, their employees

and for the vendors or lessors of the properties whose agents they are give notice that:-

All particulars or properties provided are given as a general outline only for the guidance of

intending purchaser, lessee or tenant, and do not constitute, nor constitute part of, an offer or

contract.

Whilst all particulars of properties given including but not limited to descriptions,

dimensions, references to condition and necessary permissions for use and occupation and

maps are believed to be correct and are given in good faith, they are however given without

responsibility on the part of David Baroukh Associates their Associated Companies, their

employees and or the vendors or lessors as the case may be.

None of the statements contained in any particulars is to be relied upon as a statement or

representation of fact.

Any intending purchaser or lessee or tenant should not rely on any particulars provided by us

and must satisfy themselves by inspection or otherwise as to the correctness of each

statement made in such particulars.

The vendor or lessor (as the case may be) do not make or give and neither David

Baroukh Associates LLP, their Associated Companies or any person in their

employment have any authority to make or give any representation or warranty whatever in

relation to any properties.

April 2010