72 BERMONDSEY STREET SE1

Transcription

1 72 BMONDSY S S1

2 the most fashionable bakery in britain 72 Bermondsey Street, London S1 Prime etail Investment Investment Summary rendiest etail Street in Southwark A short walk east of London Bridge Station Virtual Freehold Ground floor retail unit Let to the Pastry Store Ltd, trading as Southerden, at 45,000 pa Quoting 945,000 reflecting a NIY of 4.5% Investment ationale Increasingly popular location with strong retailer demand Prime Bermondsey Street position he 6 billion redevelopment of London Bridge Station is creating a new entrance on St homas Street, moments from Bermondsey Street Let to a critically acclaimed Patisserie with a unique fit out & design Low passing rent with good future growth potential 1

3 Southbank IS one of the most dynamic property markets in London H SH KIPLING S OC CO S BA A ID S FO N L IZA A NN D A CI M S S S H S D S Y D U ID S S BMONDSY SQUA B ID O B O OL S ABBY S O W GA INS BMONDSY SQUA ANIQUS MAK ON WS DS V DO O L S ANN S 72 Bermondsey Street London S1 M AN CI P A G H OU LA N LAH MAK S MO G S GA Y OA D W C OS BY O LO N M L FA S D U QU S LY S S Y DSY MON B INI GUY S S G MA GI PIL S S N O W S FI L DS WSON BOOUGH S O O ID Ne n w S tra ta nc tio O M n e A OW B CO M NS H MULVANY WAY N W A M AZ POND S S HI LL O W B ID O BOOUGH MAK IV HAMS S O W B ID DU K LONDON BID IGH O UG HH London Bridge edevelopment New entrance on St homas Street giving access direct to mainline and underground stations 6 billion redevelopment due to complete summer 2018 Works will increase passenger capacity by 66% New two acre concourse, the largest in the UK BO 4.7/5 Google eview very cool teapots, good coffee, lovely space & really friendly helpful staff G AN O 2 SPA

4 he coolest road in the Capital GQ Magazine 72 Bermondsey Street London S1 FASHION & XIL MUSUM anner Street Bermondsey Street Leather market Morocco Street CONMPOAY A GALLY 3

5 enancy he property is let to the Pastry Store Ltd t/a Southerden on a 9 year lease from December he lease is held on full and repairing terms via service charge and is contracted outside the Landlord & enant Act he passing rent is 45,000 per annum, reflecting 105 psf Zone A. he lease is subject to a mutual break and an upwards only open market rent review after the third and sixth years. he lessor holds a 6 month rent deposit of 27,000 including VA. Southerden Patisserie & Café Southerden opened their Bermondsey Street store in 2015, after a successful period in Peckham. All the baking and preparation is undertaken in their nearby bakery, led by the founder, Mel Southerden, a lawyer turned patisserie chef. In addition to the shop, they prepare bespoke orders, cater off-site and run bakery workshops. he café benefits from an alcohol licence. Further information is available at London vening Standard London s 50 best bakeries & cake shops 4

6 he Building & Design he property is an attractive mid 18th Century building with retail space on the ground floor. here are two residential apartments on the upper floors, not included in the sale. he tenant commissioned British design duo ley Kishimoto to design the interior and Studio Maclean to complete the fit out. he building s net internal floor area is 603 sq ft with an IZA of 427 sq ft. he result is as satisfying on the eye as the salted caramel doughnuts are on the tongue enure Virtual Freehold years unexpired at a peppercorn rent. Planning he building is Grade II Listed and located in the London Borough of Southwark s Bermondsey Street Conservation Area. VA he property is not elected for VA. PC he property has an nergy Performance Certificate rating of F A copy is available at 5

7 Proposal 72 BMONDSY S S1 We are seeking offers in excess of 945,000 (Nine Hundred and Forty-five housand Pounds) exclusive of VA and subject to contract. A purchase at this level would reflect a Net Initial Yield of 4.5% assuming purchasers costs of 5.8%. Further Information Further information is available at Nick Fisher nf@kinglypartners.com Paul owntree pr@kinglypartners.com Subject to Contract and xclusive of VA. Kingly Partners LLP for themselves give notice that (i) these particulars do not constitute, nor constitute any part of, an offer or a contract; (ii) all statements contained in these particulars as to these properties are made without responsibility on the part of Kingly Partners LLP (iii) none of the statements contained in these particulars are to be relied on as statements or representations of fact; (iv) any intending purchasers must satisfy themselves by inspection or otherwise, as to the correctness of each of the statements contained in these particulars; (v) the vendors do not make or give, and neither Kingly Partners LLP nor any person in their employment has authority to make or give, any representation or warranty whatever in relation to this property. Unless otherwise stated, all prices and rents are quoted exclusive of Value Added ax (VA). Any intending purchasers must satisfy themselves independently as to the incidence of VA in respect of any transaction. September Designed and produced by Oracle Creative