Retail Investment Opportunity Windsor - Peascod Street, Windsor, SL DE
Investment Summary The affluent commuter and historic town of Windsor is a leading retailing, business and tourist destination The property occupies a prominent position on the pedestrianised Peascod Street Two well configured ground floor retail units providing, sq ft Let to Rush Hair Limited and ReVital Limited with a WAULT of. years, producing a total rent of 00,00 per annum Long leasehold interest with 0 years unexpired at a peppercorn rent Offers sought in excess of,,000 (One Million, Two Hundred and Sixty Five Thousand Pounds) for the Long Leasehold interest in the property subject to contract and exclusive of VAT. A purchase at this level will reflect a Net Initial Yield of.0%, after purchaser s costs of.%
Location The historic town of Windsor is located within the Royal Borough of Windsor and Maidenhead, miles west of Central London, 0 miles east of Reading and miles south east of Maidenhead. Windsor benefits from excellent road connections with Junction of the M miles north of the town centre which closely intersects with Junction of the M and Heathrow Airport. The town is served by Windsor & Eton Central and Windsor & Eton Riverside stations, both providing frequent services to London Waterloo and Paddington with a fastest journey times of minutes and minutes respectively. Windsor and Slough is considered a major employment area within the M corridor with key occupiers such as Mars, 0, Blackberry, Orange, McAfee and Black & Decker. Windsor s primary catchment population of,000 is considered one of the most affluent within the UK, ranking of the PROMIS centres. This is reflected in its per capital retail spending levels which are significantly above the UK average and population categorised within the most affluent AB social group. This stands at % compared to UK average of % and including AB/C rises to %. The Royal Borough is one of the UK s leading tourist destinations with sites including Windsor Castle, Windsor Great Park, Legoland and the nearby Ascot Racecourse as well as being home to Eton College. Windsor attracts million visitors a year, from both the UK and overseas, generating a revenue of 8m per annum. 8a 8 A Thame A00 A00 HIGH WYCOMBE READING The Property 0 Yateley Marlow A0 8 M0 A M A A MAIDENHEAD SLOUGH Chesham a b 8 0 8 London Heathrow Airport M A0 M A M ST. ALBANS M A0 LONDON a b 8 0 M0 A ROYAL RACECOURSE B0 A08 A BARRY AVE CLARENCE RD ALMA RD The Property ETON COLLEGE & ETON CENTRAL ST LEONARDS RD CHARLES ST BARRY AVE PEASCOD ST VICTORI A ST & ETON RIVERSIDE KINGS RD CASTLE ROYAL SHOPPING KING EDWARD COURT B0 B0 RIVER THAMES UPTON COURT PARK B0 M B A B0 THE QUEEN MOTHER RESEVOIR A 0 Biggin Hill M a Aldershot A A A Guildford A Dorking 8 Gatwick Airport 0a 8 M M East Grinstead A Tonbridge A Maidstone B0 GREAT PARK KING EDWARD VІІ HOSPITAL A A08 HOME PARK A08 B A A 0 Crawley
Situation Windsor has an estimated 0,000 sq ft of retail accommodation centred on the pedestrianised Peascod Street and refurbished shopping centres of King Edward Court, anchored by Fenwicks and Waitrose, and Windsor Royal Shopping occupied by upmarket retailers. The town centre benefits from a broad retail offer with a number of national fashion multiples including Topshop, H&M, Zara, Superdry, River Island and Gap, restaurants and bars such as Carluccio s, Bill s, Café Rouge and GBK in addition to a number of local independents. The subject property is situated on the southern section of Peascod Street, in a strong secondary position and adjacent to Specsavers and Coral. Rush also operate a beauty salon opposite the property demonstrating the appeal of this location for their operation. This position is highly attractive to retailers due to its town centre location with significant discount in rents to prime and has become an increasingly popular A location, favoured by local restaurants in part as a result of the recent pedestrianisation of this section. In addition, a key car park serving the town centre and providing 0 spaces is located on Victoria Street, adjacent to the southern end of Peascod Street. Description The subject property comprises two ground floor retail units, with glazed frontage onto Peascod Street. Ancillary accommodation is provided at the rear of each unit and a service yard is accessed via James Street to the rear of the property.
Accommodation The subject property provides the following approximate NIA floor areas: Unit Use Size (sq m) Size (sq ft) ITZA Peascod Street Sales.,00 Peascod Street Sales 8.8 Total 8.,
Tenure / Tenancy The property is held long leasehold for a term of years from st December 00 at a peppercorn rent. Therefore, there is 0 years unexpired. The property provides an attractive WAULT of. years, producing a total income of 00,00 per annum. Unit Tenant Lease Start Lease Expiry Rent Review Rent ( per annum) Peascod Street Rush Hair Limited 0/08/008 /0/0 0/08/08 0,000 Peascod Street ReVital Limited //0 //0 0,00 Covenant Information Rush Hair Limited (Company no. 08) Rush Hair, established in Wimbledon in, now operates out of over 0 salons across the south east whilst winning numerous awards since its inception. Financial results for the past year are summarised as follows: Year Turnover Pre Tax Profit Net Worth /0/0,,000,000 (,000) ReVital Limited (Company no. 000) Revital is a heatlh food store providing high quality and innovative natural health products for over years with stores across the UK. Financial results for the past year are summarised as follows: Year Turnover Pre Tax Profit Net Worth 0/0/0,, 0,8,,8
Further Information EPC Peascod Street D8 Peascod Street D8 VAT We understand the property has been elected for VAT and therefore VAT will be chargeable on the purchase price. We anticipate that the transaction will be treated as a transfer of a going concern (TOGC). Lawrence Fisher 00 lawrence.fisher@gva.co.uk Mark Frampton 00 8 mark.frampton@gva.co.uk Gavin Quinn 00 8 gavin.quinn@gva.co.uk gva.co.uk/0 Proposal Offers sought in excess of,,000 (One Million, Two Hundred and Sixty Five Thousand Pounds) for the Long Leasehold interest in the property subject to contract and exclusive of VAT. A purchase at this level will reflect a Net Initial Yield of.0%, after purchaser s costs of.% Bilfinger GVA Gresham Street, London, ECV NQ Subject to Contract January 0 Or for any other investment sales please visit: gva.co.uk/investment
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