PRIME MIXED-USE INVESTMENT OPPORTUNITY

143-147 SHENLEY ROAD BOREHAMWOODGREATER LONDON WD6 1AH

INVESTMENT SUMMARY

• Situated in the heart of Borehamwood’s main retail thoroughfare.

• Prime mixed use building providing 7,853 sq ft (729.55 sq m) of commercial and residential accommodation.

• Freehold.

• A recently refurbished ground floor restaurant let on a new 15 year FRI lease from April 2018.

• Eight residential flats arranged over first and second floors, all of which are fully income producing let on AST agreements.

• Currently producing a total rent of £140,600 per annum.

• Offers are invited in excess of £2,400,000, subject to contract and exclusive of VAT. This reflects a 7.50% NIY on the commercial and £345 per sq ft capital value on the residential (assuming standard purchaser’s costs).

143-147 Shenley Road, Borehamwood, Greater London WD6 1AH

LOCATIONBorehamwood is an affluent Hertfordshire town located in the district of Hertsmere, c. 11 miles north-west of Central London, a strategic inner M25 location. The town benefits from exceptional connectivity with the national motorway network, rail links and international airports being in close proximity.

The subject property is situated approximately 0.3 miles from Elstree & Borehamwood train station, which provides regular direct services to King’s Cross St Pancras International (19 mins), Farringdon (30 mins), London Blackfriars (35 mins) and London Bridge (59 mins).

SITUATIONThe subject property is situated on the northern side of Borehamwood’s main shopping thoroughfare along Shenley Road, equidistant between a Tesco Extra to the east and Borehamwood Shopping Park to the west. The property is conveniently set back from Shenley Road on an access road providing loading and customer parking. The world famous Elstree Film Studios are some 300 yards to the east of the property. Other nearby occupiers on Shenley Road include; Iceland, Subway, Greggs, BathStore and Lloyds Bank.

143-147 Shenley Road, Borehamwood, Greater London WD6 1AH

Hendon

St Albans

Luton(21 miles)

CRANES W

AYST

UD

IO W

AY

ROW

LEY LA

ALEXANDRA RD

POTTERS LANE

D ENHAM WAY

FARRIER S WAY

ARUNDEL DRIVE

FURZEHILL ROAD

TENNISON AV

MELROSE A

SHENLEY ROAD

ORGAN HALL RD

ALLUM LANE

ELSTREE WAY

BROOK ROAD

THEOBALD STREET

THEOBALD STREET

ALLERTON RD

GROVE

RO

AD

GATESHEAD RD

STANBO

ROUG

H AVENUE

STAP

LETO

N ROAD

AYCLIFFE ROAD

MA

NO

R W

AY

AYCLIFFE ROAD

STRATFIELD R

OAD

HARTFORDE ROAD

COW

LEY HILL

SHEN

LEY

ROAD

FURZEHILL ROAD

ASHLEY DRIVE

LEEMING RD

BALM

ORA L

DR

823

Elstree & Borehamwood

Rail Station

Drawn 20130928Contains Ordnance Survey data © Crown copyright and database right 2013

SUBJECT PROPERTY

BOREHAMWOOD Borehamwood Shopping Park

Elstree Studios

143-147 Shenley Road, Borehamwood, Greater London WD6 1AH

CREAMS

GELATO

ENT

DESCRIPTION The subject property provides a recently refurbished ground floor restaurant totalling 3,288 sq ft (305.46 sq m) with residential accommodation on the first and second floors totalling 4,565 sq ft (424.05 sq m). The residential element comprises of 8 apartments (4 x 2 bed apartments and 4 x 1 bed apartments) all have the benefit of central heating. Access to the residential accommodation is from a shared entrance on Shenley Road.

TENURE Freehold.

TENANCY The property is let in accordance with the following tenancy schedule, producing a current rental income of £140,600 per annum.

The commercial unit is let on an effective full repairing and insuring (FRI) terms and the residential units are let on Assured Shorthold Tenancies.

TENANCY SCHEDULE

143-147 Shenley Road, Borehamwood, Greater London WD6 1AH

Address Floor Tenant Area Sq M Area Sq Ft Lease Start Expiry Date (Break) Next Review Current Rent PA Comments

Unit A GroundS.I.A. Developments Limited with guarantee from Zoomex Limited (t/a Creams Gelato Co.)

305.50 3,288 09/04/2018 08/04/2033 (08/04/2028)

09/04/2023 5 yearly £65,000 The tenant has subdivided the unit.

143A First (Front) Individual 74.69 804 TBC TBC - £10,200 Assured Shorthold Tenancy. 2 bedroom apartment.

143B Second (Front) Individual 36.70 395 TBC TBC - £8,400 Assured Shorthold Tenancy. 1 bedroom apartment.

145A First (Front) Individual 42.26 455 TBC TBC - £8,400 Assured Shorthold Tenancy. 1 bedroom apartment.

145B Second (Front) Individual 66.01 711 TBC TBC - £10,200 Assured Shorthold Tenancy. 2 bedroom apartment.

147A First (Middle) Individual 43.17 465 TBC TBC - £10,200 Assured Shorthold Tenancy. 2 bedroom apartment.

147B Second (Rear) Individual 72.32 778 TBC TBC - £10,200 Assured Shorthold Tenancy. 2 bedroom apartment.

147C First (Rear) Individual 48.01 517 TBC TBC - £9,000 Assured Shorthold Tenancy. 1 bedroom apartment.

147D Second (Rear) Individual 40.89 440 TBC TBC - £9,000 Assured Shorthold Tenancy. 1 bedroom apartment.

Total 729.55 7,853 £140,600

COVENANT Creams Gelato Co.Creams Cafès have been operating since 2008 with the first UK franchise taking 2 years of meticulous research and planning until it was finally established. The franchise is a unique and independent food brand. They aim to present a 1950’s retro Americana genre whilst boasting a black and purple colour scheme alongside with distinctive lighting which adds a trendy, unique looking design and feel. There are currently 24 Creams stores in Central London including Kilburn, Wembley, Stratford, Hounslow, Ilford and Brixton. www.creamscafe.com

Zoomex LimitedZoomex Limited was established in 2012 and currently has a D&B rating of 1A2 which represents a “lower than average risk” of business failure. www.zoomex.co.uk. Summary accounts for the last 3 years are set out below:-

Zoomex Limited 31/03/2018 31/03/2017 31/03/2016

Net Worth £707,391 £788,450 £230,251

Net Current Assets (Liabilities) £624,838 £659,860 £95,015

143-147 Shenley Road, Borehamwood, Greater London WD6 1AH

EPCEPC’s available upon request.

VATThe property has been elected for VAT and it is envisaged that the transaction will be treated as a Transfer of a Going Concern (TOGC).

PROPOSALOffers are invited in excess of £2,400,000, subject to contract and exclusive of VAT. This reflects a 7.50% NIY on the commercial and £345 per sq ft capital value on the residential (assuming standard purchaser’s costs).

FURTHER INFORMATIONShould you require further information or wish to view the property please contact either:-

3-5 Barrett StreetSt Christopher’s PlaceLondon W1U 1AY

020 7042 6000 www.buchananbond.com

Misrepresentation Act 1967 & Declaration Buchanan Bond Real Estate Ltd, for themselves and for the vendors of this property whose agents they are, give notice that: i) The particulars are set out as a general outline only for the guidance of intending purchasers, and do not constitute, nor constitute part of, an offer or contract. ii) All descriptions, dimensions, references to condition and necessary permission for use and occupation and other details are given in good faith and are believed to be correct, but any intending purchasers should not rely on them as statements or representations of fact and must satisfy themselves by inspection or otherwise as to the correctness of each of them. iii) No person in the employment of Buchanan Bond Real Estate Ltd has any authority to make or give any representation or warranty in relation to this property. JUNE 2019.

STEVEN POLLACKT: 020 7042 6002 M: 07530 424 019 E: steven@buchananbond.com

JONATHAN SKERRYT: 020 7042 6004M: 07736 300 594E: jonathan@buchananbond.com