Potential House, Kings Road, Brentwood, Essex CM14 4EG. Mixed-use Investment Opportunity For Sale

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1 ENTER Mixed-use Investment Opportunity For Sale

2 HOME SUMMARY SUMMARY Mixed-use freehold investment extending to 8,340ft2 comprising 4 retail units and a 28-room HMO producing a combined income of 222,500 per annum Potential for the erection of a two-storey extension to increase the residential floor space, S.T.P.P. Popular residential location in close proximity to Brentwood Crossrail Station Offers invited in excess of 3,000,000 freehold, reflecting a NIY of 7% and a capital value of 359 per ft2 DESCRIPTION & LOCATION TENANCIES DEVELOPMENT TERMS

3 HOME SUMMARY DESCRIPTION & LOCATION TENANCIES DEVELOPMENT TERMS DESCRIPTION The existing property comprises a part-3, part-4 storey mixed-use building, comprising 4 x retail units at ground floor level extending to approximately 2,484ft 2 in total and a 28-room HMO occupying the first, second and third floors extending to approximately 5,856ft 2. The HMO recently underwent an extensive refurbishment. The overall size of the building is approximately 8,340ft 2. To the rear of the property are 8 parking spaces which belong to Potential House, accessed via Fairfield Road. LOCATION Potential House is situated in a prominent position fronting Kings Road, within Brentwood Borough Council. Brentwood Station is located approximately 500 metres from the property, providing frequent TFL Rail services to London Liverpool Street with journey times of approximately 29 minutes. Crossrail will be operating from Brentwood Station with limited journeys already running; the station will be fully operational from December The immediate location comprises a broad mix of both residential and commercial uses, with both Brentwood School and Brentwood County High School located under 1-mile from the property.

4 HOME SUMMARY DESCRIPTION & LOCATION TENANCIES DEVELOPMENT TERMS TENANCIES 143 Kings Road The A1 retail unit is let to Nancijane Carey (trading as Fresh Flowers) on a FRI lease from 9th May 2012 for a 10-year term at a current rent of 15,500 per annum. The lease falls outside the provisions of the Landlord and Tenant Act Kings Road - The A1 retail unit is let to Prajay & Sangitaben Patel (trading as a newsagents) on a FRI lease from 29th September 2010 for a 10-year term at a current rent of 15,500 per annum. The shop has the benefit of one parking space to the rear. The lease falls within the Landlord and Tenant Act Kings Road - The A1 retail unit is let to Jonathan Russell & Suwannarat Thammasan (trading as a His & Hers Wellbeing) on a FRI lease from 24th April 2015 for a 5-year term at a current rent of 15,500 per annum. The lease falls within the Landlord and Tenant Act Kings Road The A1 retail unit has been assigned to Liene Leonova & Mara Iguane (trading as The Kings Road Stitchery) on a FRI lease from 15th October 2012 for a 5-year term at a current rent of 14,000 per annum. The shop has the benefit of one parking space to the rear. HMO The first, second and third floors are let to Stef & Philips Ltd ( from 18 th May 2017 for a 10-year term at a current of 162,500 per annum. The lease benefits from an upward only RPI linked rent review on 18 th May 2022 with no break clauses and falls outside the provisions of the Landlord and Tenant Act Stef & Philips currently manage 1,500 rooms across the UK. The property offers potential for future rental growth by way of asset management of the retail units. Unit Floor Tenant Use Size M 2 Size Ft 2 Lease Start Lease Expiry Break Clause Date Rent /pa ERV ERV /ft 2 Retail 143 Kings Road Ground Nancijane Carey A1 Retail th March th March 2022 N/A 15,500 16, Kings Road Ground Prajay & Sangitaben Patel A1 Retail th Sept th Sept 2022 N/A 15,500 18, Kings Road Ground Jonathan Miles Russell & Suwannarat Thammasan A1 Retail th April rd April 2020 N/A 15,500 18, Kings Road Ground Liene Leonova & Mara Iguane A1 Retail 64, th October th Oct 2017 N/A 14,000 20, Sub-Total ,484 60,500 72, HMO HMO First, Second Stef & Phillips Ltd C , th May th May 2027 No Breaks 162, , & Third Sub-Total 544 5, , , Grand Total , , ,

5 HOME SUMMARY DESCRIPTION & LOCATION TENANCIES DEVELOPMENT TERMS PLANNING & DEVELOPMENT POTENTIAL There is potential to increase the residential floorspace by way of a 2-storey extension in line with the neighbouring properties, subject to planning permission. The floorspace of the roof extends to approximately 3,400ft 2 GIA and is currently accessed via the HMO on the third floor. There is longer term potential to convert the HMO to self-contained residential apartments, subject to obtaining vacant possession and planning permission. POTENTIAL HOUSE Stef & Philips Ltd - HMO

6 HOME SUMMARY TERMS Offers are invited in excess of 3,000,000 for the freehold interest representing a NIY of 7% and a capital value of 359 per ft2. VAT We understand that the property is elected for VAT, although the sale will be treated as TOGC. ADDITIONAL INFORMATION Further information including approved planning documents can be found within the dataroom using the access code Potential. CONTACT To discuss any aspect of the property of disposal process, please contact the sole selling agents: Jordan Oldfield jordan.oldfield@kingsbury-consultants.co.uk Keir Goldstein keir.goldstein@kingsbury-consultants.co.uk Kingsbury 1st Floor, 81 Alie Street, London E1 8NH Kingsbury on their own behalf and on behalf of the Owner / Landlord of this property whose agents, gives notice that this document does not constitute any form of contract for sale or lease. Statements should not be relied upon, and interested parties are advised to satisfy themselves as to the correctness of each statement. Kingsbury is the trading name of Kingsbury Investment & Development Consultants Ltd registered in England No: DESCRIPTION & LOCATION TENANCIES DEVELOPMENT TERMS