starbucks - allsop.co.uk · starbucks is an american coffee company and coffeehouse chain founded...

STARBUCKS CLAPHAM JUNCTION37-39 ST JOHN’S ROAD, SW11 1QN

RETAIL COFFEE SHOP INVESTMENT WITH SIGNIFICANT RESIDENTIAL DEVELOPMENT POTENTIAL

✪

✪STARBUCKS CLAPHAM JUNCTION 37-39 ST JOHN’S ROAD

SW11 1QN

CLAPHAM COMMON

CLAPHAM JUNCTION

CLAPHAM GRAND

ST JOHN’S ROAD

A306

A306

BATTERSEA POST OFFICE BATTERSEA LIBRARY


SW11 1QN

INVESTMENT CONSIDERATIONS

✪ Located within the affluent and popular suburb of Clapham Junction

✪ The property is situated in the 100% prime pitch on St John’s Road

✪ Currently let to the 5A1 covenant of Starbucks who wish to renew for a term of ten years

✪ Freehold

✪ Current passing rent of £126,850 pa reflecting a below market Zone A rent of £122 psf

✪ After reconfiguration of the ground floor the ERV increases to £189,000 pa based on a Zone A rent of £185 psf

DEVELOPMENT POTENTIAL (subject to gaining all the necessary consents)

✪ Conversion of the first and second floors to residential use

✪ The comprehensive redevelopment of the site, including an increase in the height and density of the development

We are instructed to seek offers in excess of £4,250,000 (Four Million Two Hundred and Fifty Thousand Pounds), subject to contract and exclusive of VAT.

LOCATION

Clapham Junction is located in the south west London Borough of Wandsworth, one of the most affluent and popular areas of South London. The district is situated approximately 4 miles (6.4 km) south west of Central London, nearby suburbs include Westminster, Chelsea and Earlsfield. Clapham Junction benefits from excellent transport links.


SW11 1QN

RAIL

Clapham Junction is one of Europe’s busiest train stations with an estimated 2,000 trains and 500,000 passengers passing through each day. It serves as an intersection for regular trains to London Waterloo, London Victoria and Vauxhall providing easy access across London as well as the south east and south west of England. The station underwent major refurbishment in 2012 to accommodate the continuing increase in demand.

CAR

Clapham Junction benefits from excellent road communications being situated in close proximity to both the South Circular Road (A205) and the A3, which is the major arterial route through south west London. The A3 provides direct access to the M25 which is approximately (19 miles) 32 km to the south west.

BUS

Numerous bus routes pass through St John’s Hill, St John’s Road and Lavender Hill providing regular services into Central London.

AIR

Clapham Junction benefits from a regular train service to London Gatwick Airport approximately every 5-10 minutes (peak times) with a fastest journey time of 25 minutes.

LONDONHeathrow

LondonCity

Gatwick

Stansted

Luton

J27J25J23

J21

J20

J19

J16

J15

J12

J10

J7J8

J9

J6

J5

J3

J2

J29

J28

A5

A505

A418

A602A131A130

A138

A130

A127

A339

A264

A264

A229

A120

A404

A355

A404

A413

A4142

A4010

A414

A414

A414

A1

A2

A3

A41

A34

A31

A24

A22

A21

A20

A10

A10

A12

A12

A26A21

A23

A23

A420

A303

A34

A34

A44

A40

M1

M4

M4M4

M2

M3

M3

M3

M10

M40

M40

A404(M)

A329(M)M25

M25

M25

M25

M25

M25

M23

M26

M20

M20

M11

M11

A1(M)

M1

HarlowHarlow

BishopʼsStortfordBishopʼsStortford

EppingEppingPotters BarPotters Bar

KnebworthKnebworth

HertfordHertfordAylesburyAylesbury

DunstableDunstable StevenageStevenage

DartfordDartford

BromleyBromley

GravesendGravesend

GillinghamGillingham

ShorehamShoreham SittingbourneSittingbourne

CroydonCroydon

RomfordRomfordIlfordIlford

SevenoaksSevenoaks

TonbridgeTonbridge

RoyalTonbridge

Wells

RoyalTonbridge

Wells

TottenhamTottenham

MaidstoneMaidstone

SheernessSheerness

StaplehurstStaplehurst

CrawleyCrawley Three BridgesThree Bridges

HorleyHorley

HorshamHorsham

WitleyWitley

GodalmingGodalming

CranleighCranleigh

HaywardsHeath

HaywardsHeath

Burgess HillBurgess Hill

OxtedOxted

DorkingDorkingGUILDFORDGUILDFORD ReigateReigate

StainesStaines

HemelHempstead

HemelHempstead

CheshamChesham

St AlbansSt Albans

HighWycombe

HighWycombe

ThameThame

WatfordWatford

WembleyWembley

LutonLuton

HarefieldHarefield

HampsteadHampstead

BorehamwoodBorehamwood

EnfieldEnfieldBarnetBarnet

WindsorWindsor

SloughSlough

FamboroughFamborough

AldershotAldershot

AltonAlton

BASINGSTOKEBASINGSTOKE

FamhamFamham

WokinghamWokingham AscotAscot

SandhurstSandhurst

READINGREADING

OXFORDOXFORD

Henley-on-ThamesHenley-on-Thames

EpsomEpsomSuttonSutton

RichmondRichmond

SouthallSouthall

WickfordWickford

Stanford-le-HopeStanford-le-Hope

Southend-on-SeaSouthend-on-SeaCanveyIsland

CanveyIsland

BrentwoodBrentwood

ChelmsfordChelmsford

ChippingOngar

ChippingOngar

BasildonBasildon

Welwyn GardenCity

Welwyn GardenCity

Walton-on-ThamesWalton-on-Thames

KingstonUpon Thames

KingstonUpon Thames

CLAPHAMCLAPHAM

St John’s R

oad

Northcote R

oad

Strath Terrace

Bolingb

roke Grove

Boutflower Road

Auckland R

oad

Buckm

aster Road

Alm

eric Road

Shelgate Road

Leathwaite R

oad

Web

b’s R

oad

W

Lindo

re Ro

ad

Keildon Road

Eccles Road

Parm

a Crescent

La

vend

er Sw

eep

Barnard Road

Beaucham

p R

oad

Beauchamp Road

Ilminster G

ardens

Comyn Road

Eckstein Road

Severus R

oad Falcon R

oad

Falcon Lane

Grant Road

Barnard M

ews

Limburg R

oad

Hafer R

oad

Altenb

urg Gardens

Kathleen R

oad

Lavender G

ardens

Mysore R

oad

Sisters A

venue

Aliwal Road

Mossbury Road

A3

Battersea Rise A3

Battersea Rise A

3

S C

ircular

Road

A3220

A3220

A3036 S

t John’s Hill

A3036

A3036 Lavender Hill

A3036

A3036

CLAPHAMJUNCTION

CLAPHAMCOMMON

RETAIL COFFEE SHOP INVESTMENT WITH SIGNIFICANT RESIDENTIAL

DEVELOPMENT POTENTIAL


SW11 1QN

© Crown Copyright, ES 100004106. For identification purposes only.

50 metres

For more information on our products and services:www.experian.co.uk/goad | [email protected] | 0845 601 6011

Clapham Junction

Experian Goad Plan Created: 30/08/2016Created By: Allsop

Copyright and confidentiality Experian, 2016. © Crowncopyright and database rights 2016. OS 100019885

CLAPHAM JUNCTIONSTATION

SITUATION

The property is situated in the heart of Clapham Junction’s retail thoroughfare occupying a 100% prime pitch. The property benefits from frontages onto St John’s Road and Beauchamp Road. The property is located opposite Waitrose Supermarket and adjacent to F Hinds Jewellers with a number of national multiples in close proximity including O2, TK Maxx, Superdrug, Santander, Specsavers and Boots. Clapham Junction railway station is located a short 5 minute walk north west of the property.

DESCRIPTION

The property comprises a prominent 3 storey end-of-terrace corner building arranged over ground, first and second floors. The ground floor consists of a Starbucks coffee shop with the upper floors providing ancillary accommodation. The tenant currently uses only the ground and part of the first floor whilst the entirety of the second floor is not in use. There is a small courtyard to the rear of the building which provides rear external access to the first floor via Beauchamp Road.

ACCOMMODATION

Floor NIA (Sq m) NIA (Sq Ft)

Ground Floor(ITZA)

128.70(88.12)

1,385(948.5)

First Floor 92.77 999

Second Floor 79.93 860

Total 301.40 3,244

TENURE

Freehold



SW11 1QN

RETAIL COFFEE SHOP INVESTMENT WITH SIGNIFICANT RESIDENTIAL


DEMOGRAPHICS

Clapham Junction has a primary catchment area of 102,000 with an estimated shopping population of 41,000. The area is projected to see an above average growth in population over the period 2015-20. Clapham Junction benefits from a significantly high proportion of adults aged 25-44 with an above average proportion falling within the most affluent AB and C1 social groups. As a result of the younger population Clapham Junction has an above average number of adults in private rented accommodation.

RETAILING IN CLAPHAM JUNCTION

Clapham Junction is an established retailing destination with excellent communications creating a desirable location for people to live, socialise and shop. There is a wide selection of shops, bars and restaurants benefiting from a high pedestrian footfall and captive population resulting in an in-store comparison retail expenditure of £273 million in 2015.

Clapham Junction’s young and affluent catchment population, which traditionally benefit from an increased disposable income, have a higher per capita in-store comparison expenditure when compared to other trading locations within south west London.

TENANCY

The entire property is let to Starbucks Coffee Company (UK) Ltd on a full repairing and insuring lease for a term of 25 years from 23rd April 1991 expiring 22nd April 2016 at a current rent of £126,850 pa.

The tenant is currently holding over but they have expressed a desire for a new ten year lease on similar terms. Due to the underlying residential development value to the upper floors the vendor has decided not to renew the lease at this time and will leave this to the discretion of the purchaser. Correspondences to this point can be provided on request.

COVENANT INFORMATION

Starbucks is an American coffee company and coffeehouse chain founded in Seattle, Washington in 1971. Today it is the largest coffee house in the world with 23,768 locations worldwide and over 880 stores in the UK. The business has produced the following headline accounts over the last 3 years:

27 Sep 2015 28 Sep 2014 29 Sep 2013

Turnover £405,641,634 £408,721,070 £399,405,183

Pre-Tax Profit £34,216,739 £1,056,196 (£20,465,123)

Total Net Worth £57,705,649 £35,513,082 £43,838,060


SW11 1QN


6

5759

1

Retail

Eckstein Road

Beauchamp Road

Ilminster G

ardens

St John’s Road

Retail5048

52

46

55

0m 5m 10m 15m


Subject to obtaining the necessary planning consents the property provides a number of potential development opportunities including:

✪ Conversion of the first and second floors to residential use.

✪ The comprehensive redevelopment of the site, including an increase in the height and density of the development.

In order to establish the development potential, the Vendor has commissioned a planning report which provides a comprehensive review of the development potential of the existing building and redevelopment and extension potential.

The report concludes that in planning terms there is the potential to progress a conversion through an application for the change of use of the first and second floors to a

residential use. Furthermore, there is the potential to progress a comprehensive redevelopment of the Site, including an increase in the height and density of development.

The Vendor has commissioned indicative floor plans outlining the reconfiguration of the ground, first and second floors which are available in the dataroom.

Residential values in the Clapham Junction area are currently achieving approximately £1,000psf.

Full copies of the planning report and subsequent floor plans are available upon request or via the Dataroom: http://datarooms.allsop.co.uk/register/STARBUCKSCJ

Misrepresentation Act: 1. Allsop LLP on its own behalf and on behalf of the vendor/lessor of this property whose agent Allsop LLP is, gives notice that: (a) these particulars do not constitute in whole or in part an offer or contract for sale or lease; (b) none of the statements contained in these particulars as to the property are to be relied on as statements or representations of fact; and (c) the vendor/lessor does not make or give, and neither Allsop LLP nor any of its members or any person in its employment has any authority to make or give, any representation or warranty whatsoever in relation to the property. The only representations, warranties, undertakings and contractual obligations to be given or undertaken by the vendor/lessor are those contained and expressly referred to in the written contract for sale or agreement for lease between the vendor/lessor and a purchaser or tenant. 2. Prospective purchasers or tenants are strongly advised to: (a) satisfy themselves as to the correctness of each statement contained in these particulars; (b) inspect the property and the neighbouring area; (c) ensure that any items expressed to be included are available and in working order; (d) arrange a full structural (and where appropriate environmental) survey of the property; and (e) carry out all necessary searches and enquiries. Allsop is the trading name of Allsop LLP. Design: CommandD www.commandHQ.co.uk 10.16

For further information or to make arrangements for viewing please contact:

Lottie Hayward020 7543 6750

[email protected]

Liam Stray020 7543 6769

[email protected]

www.allsop.co.uk

Receiver Caveat:This property is being marketed for sale on behalf of Joint Fixed Charge Receivers and therefore no warranties or guarantees in any respect, including VAT, can be given.

The information in these particulars has been provided by the Joint Fixed Charge Receivers to the best of their knowledge, but the purchaser must rely solely on their own enquiries. The Fixed Charge Receivers are not bound to accept the highest or any offer and are acting in respect of the sale without personal liability.

PROPOSALWe are instructed to seek offers in excess of £4,250,000

(Four Million Two Hundred and Fifty Thousand Pounds), subject to contract and exclusive of VAT.

✪

VAT

The property is elected for VAT and we would expect the transaction

to be treated as a Transfer of a Going Concern (TOGC).

EPC

A copy of the EPC is available in the dataroom.

DATAROOM

Further information is provided in the dataroom. For access please register on the following website: http://datarooms.allsop.co.uk/

register/STARBUCKSCJ

starbucks - allsop.co.uk · starbucks is an american coffee company and coffeehouse chain founded...

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