King s Road Chelsea. Prime freehold retail investment. Prime retail investment sale on behalf of

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Lindsey Haynes
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1 Prime freehold retail investment Prime retail investment sale on behalf of

_ Prime Central London retail investment located on the King s

_ Freehold period property totalling 515.26 sq m (5,546 sq ft).

individual over-riding leases let to recognised national

_ Offers invited in excess of 7,975,000 subject to contract and

2 _ Prime Central London retail investment located on the King s Road in, one of the capital s premier retail destinations. _ Freehold period property totalling sq m (5,546 sq ft). _ The property comprises three prominent units each held on individual over-riding leases let to recognised national retailers. _ Total current rent of 400,500 per annum. _ Offers invited in excess of 7,975,000 subject to contract and exclusive of VAT. _ Net initial yield of 4.75% assuming purchaser s costs of %. Investment Summary

location & communications Location King s Road is located within the Royal Borough of Kensington and ; it connects Sloane Square to the north

King s Road is approximately 2¼ miles south west of Central London and 1 mile south of Knightsbridge.

national multiples and some smaller independent retailers.

3 location & communications Location King s Road is located within the Royal Borough of Kensington and ; it connects Sloane Square to the north east with New King s Road to the south west. King s Road is approximately 2¼ miles south west of Central London and 1 mile south of Knightsbridge. The King s Road is one of London s premier retailing destinations providing a wide variety of occupiers from high end designer labels to national multiples and some smaller independent retailers. The Peter Jones department store at the eastern end of King s Road is a key attraction in the area and has historically helped to secure the pitch. Recent developments have included the Duke of York Square scheme completed by the Cadogan Estate in 2004 which has improved the retail offer further. The area has some of the most prestigious residential addresses in London, many being located in close proximity to the subject premises. Communications The King s Road enjoys excellent communications having access to both the Underground network at Sloane Square (District & Circle Lines) and numerous bus routes linking the area to Central London and outlying areas. Victoria Mainline Station is located some 1½ miles to the east and provides overground services to numerous locations including a direct service to Gatwick Airport. Easy connections are also available via the Victoria Line to both Euston and King s Cross St Pancras.

4 Situation The property occupies a prime position on the south side of King s Road between Wellington Square to the south and Royal Avenue to the north. Occupiers in close proximity to the subject premises include Joseph, Starbucks, Fat Face, Gap, Reiss, Muji, Joseph & McDonalds. The King s Walk Shopping Centre is located directly opposite the subject premises. High St Kensington KENSINGTON ROAD HYDE PARK Knightsbridge MARKHAM SQUARE WEST CORNWALL PASTY CO TAKE AWAY 138A ABBEY BANK ELYSTAN PLACE PAUL BAKER & CAFÉ HARVEST 138 EASY INTERNET INTERNET CAFE & SUBWAY S/W BAR 136 DWELLINGS BYWATER STREET 134 KING S ROAD 67A 67 OCTOPUS GIFTS PENHALIGONS HEALTH & BEAUTY 7 6 PO JD SPORTS SPORTS GOODS FIFTEEN MINUTES CLOTHING 5 CHELSEA TAILOR CLOTHING ALTERATIONS STARBUCKS COFFEE SHOP FOLLI FOLLIE JEWELLER 4 RAMP DWG POST OFFICE & BUREAU DE CHANGE 3 11 COOL CUTS HAIRDRESSING VANILLA KEW QUEENS HEAD PUBLIC HOUSE KORRES HEALTH & BEAUTY SCRIBBLER CARDS NEALS YARD REMEDIES HEALTH & BEAUTY FAT FACE CLOTHING LEATHER CLASSICS LEATHER GOODS TFNC LASIES WEAR KING S WALK VACANT OUTLET DR CHIINA HEALTH FOOODS C 124B 124A A CROCS JONES BOOTMAKER OFFICE GAP CLOTHING (3 RETAIL FLOORS) SUNGLASS HUT L&M ACCESS & WATCH STATION JEWELLER TRYON STREET DWELLINGS OFFICE JOSEPH KING S ROAD McDONALDS FAST FOOD RESTAURANT (2 RETAIL FLOORS) TIMPSON SHOE REPAIRS 6 MUJI VARIETY STORE (2 RETAIL FLOORS) THE VESTRY WORKS 116 WELLINGTON SQUARE ANDERSON STREET REISS LADIES & MENS WEAR ENT OFFICE ENT OFFICE H SAMUEL JEWELLER ROYAL AVENUE PETIT BATEAU CHILDRENS WEAR REMINISCENCE LADIES ACCESSORIES SOLE KING S ROAD ACCESSORIZE LADIES ACCESSORIES HAWES & CURTIS LADIES & MENS WEAR TIMBERLAND OUTDOOR WEAR VODAFONE TELEPHONES 102 MONSOON LADIES & MENS WEAR & INTERIOR DECOR (2 RETAIL FLOORS) SHUZ RADLEY LEATHER GOODS TABIO HOSIERY WAREHOUSE L/WR (2 RETAIL FLOORS) GEOX MENS WEAR GOLDENPOINT K KAREN MILLEN THOMAS SABO JEWELLER 33H 33G 33F 33E 33D WALPOLE STREET GARDENS 71 HOLLAND & BARRETT HEALTH FOOD 69A ORANGE TELEPHONES PHONES 4 U TELEPHONES ONE NATION L/WR&M/WR T OCCITANE EN PROVENCE HLTH & BEA CHELSEA BUILDING SOCIETY KING S ROAD SLOANE STREET Hyde Park Corner GROSVENOR PL EARL S CT RD Earl s Court CROMWELL ROAD FINBOROUGH RD Gloucester Rd OLD BROMPTON RD South Kensington FULHAM ROAD BROMPTON ROAD ALBERT BRIDGE RD Sloane Square CHELSEA BRIDGE RD CHEYNE WALK CHELSEA EMBANKMENT BATTERSEA PARK 73 CARPHONE WAREHOUSE TELEPHONES DWELLINGS SMITH STREET

Description The property comprises a block of three period style self-contained retail units each arranged over basement,

The ground floor of each unit is used as sales space with the remainder of the accommodation generally utilised for storage

All three units enjoy prominent frontage to King s Road and are all accessed from the street for both retailing and loading

The upper floors of each property are arranged as a series of small rooms and historically have been used for ancillary

5 Description The property comprises a block of three period style self-contained retail units each arranged over basement, ground and three upper floors. The ground floor of each unit is used as sales space with the remainder of the accommodation generally utilised for storage and ancillary purposes. The building is of traditional brick construction with a painted facade beneath a mansard roof. All three units enjoy prominent frontage to King s Road and are all accessed from the street for both retailing and loading purposes, with the exception of No.59 which has an additional separate access door from the adjacent Wellington Square. The upper floors of each property are arranged as a series of small rooms and historically have been used for ancillary purposes but also in part for residential purposes. Subject to the necessary consents, we believe the property offers the potential for the creation of self-contained residential accommodation in the upper parts. Description

6 OFFICE/ TERRACE King s Road STORAGE Accommodation CBOARD CBOARD CBOARD RETAIL AREA STAFF KITCHEN STAFF KITCHEN The property provides the following net internal areas: Demise Use Sq m Sq ft OFFICE OFFICE LOBBY FLOOR HATCH OFFICE BOARD OFFICE 55 King s Road Ground Floor Sales ITZA Basement Storage TERRACE 381 First Floor Ancillary Second Floor Ancillary Third Floor Ancillary Sub Total ,819 Net frontage to King s Road 4.22m (13.84ft) gross frontage 4.84m (15.88ft) OFFICE/ CBOARD CBOARD CBOARD Lower Ground Floor First Floor NO. 55 NO. 57 STAFF KITCHEN NO. 59 STAFF KITCHEN NO SIDE STORAGE 57 King s Road Ground Floor Sales ITZA Basement Storage First Floor Ancillary Second Floor Ancillary Third Floor Ancillary Sub Total ,987 OFFICE OFFICE RETAIL AREA TERRACE LOBBY OFFICE/ Net frontage to King s Road 4.44m (14.56ft) gross frontage 4.90m (16.07ft) Second Floor 59 King s Road Ground Floor Sales ITZA Basement Storage Vaults Storage First Floor Ancillary Second Floor Ancillary Third Floor Ancillary Sub Total ,740 STORAGE FLOOR HATCH NO SIDE RETAIL AREA CBOARD CBOARD CBOARD RETAIL AREA OFFICE OFFICE Net frontage to King s Road 4.05m (13.28ft) gross frontage 4.87m (15.97ft) TOTAL ,546 NO. 55 Ground Floor NO. 57 NO. 59 OFFICE BOARD OFFICE Third Floor TERRACE FLOOR HATCH

00 Limited 57 King s Road A Jones & Sons 12/09/2007 03/11/2016 09/11/2012 127,000 302.50 Limited 59 King s Road A Jones & Sons 04/11/1991 03/11/2016 04/11/2011 118,500 302.

7 Tenure The property is held freehold. King s Road Tenancies The property is let in accordance with the schedule set out below. Description Tenant Lease Start Lease Next Rent Rent pa Rent Expiry Review psf ITZA 55 King s Road Crocs UK 28/03/ /03/ /03/ , Limited 57 King s Road A Jones & Sons 12/09/ /11/ /11/ , Limited 59 King s Road A Jones & Sons 04/11/ /11/ /11/ , Limited TOTAL 400,500 Covenant A Jones & Sons Limited have a D&B rating of 3A1. The last three years filed accounts are as follows: Year End 31/01/09 Year End 27/01/08 Year End 28/01/07 Turnover 60,387,000 57,112,000 50,860,000 Profit (loss) Before Tax ( 2,369,000) ( 315,000) 127,000 Net Worth 11,108,000 13,370,000 14,558,000 Crocs UK Limited* have a D&B rating of N4. The last three years filed accounts are as follows. Year End 31/12/09 Year End 31/12/08 Year End 31/12/07 Turnover 2,677,504 1,515, ,714 Profit (loss) Before tax 125,950 ( 1,202,915) ( 126,727) Net Worth 1,203,691 ( 1,329,641) ( 126,726) *The Vendor holds a deposit equivalent to 6 months rent. VAT The property is elected for VAT and the sale will therefore be treated as a TOGC.

Proposal further information Offers in excess of 7,975,000 subject to contract and exclusive of VAT. A purchase at this level reflects a net initial yield of 4.

8 Proposal further information Offers in excess of 7,975,000 subject to contract and exclusive of VAT. A purchase at this level reflects a net initial yield of 4.75%, after allowing for purchasers costs of %. Prime retail investment sale on behalf of 43/44 Albemarle Street London W1S 4JJ Robert Mortimer rmortimer@chapman-petrie.co.uk Marc Murphy mmurphy@chapman-petrie.co.uk 115 Mount Street London W1K 3NQ Tim Morgan tjm@hsmuk.com Andrew Taylor art@hsmuk.com MISREPRESENTATION ACT 1967 Chapman Petrie and Hoddell Stotesbury Morgan for themselves and for the vendors of the property whose agents they are give notice that: 1. The particulars are set out as a general outline only for the guidance of intending purchasers and do not constitute part of an offer or contract; 2. All descriptions, dimensions, references to condition and necessary permission for use and occupation, and other details are given without responsibility, and any intending purchasers or tenants should not rely on them as statements or representations of fact but must satisfy themselves by inspection or otherwise as to the correctness of each of them; 3. No person in the employment of Chapman Petrie or Hoddell Stotesbury Morgan has the authority to make or give any representation or warranty whatever in relation to this property; 4. Rents quoted in the above particulars may be subject to VAT in addition; 5. Chapman Petrie and Hoddell Stotesbury Morgan will not be liable, in negligence or otherwise for any loss arising from the use of these particulars. October BS0481. Design by

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