18-22 SOUTHCHURCH ROAD SOUTHEND-ON-SEA, SS1 2NE

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Melinda Douglas
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1 PRIVATECLIENT SOUTHCHURCH ROAD SOUTHEND-ON-SEA, SS1 2NE FREEHOLD RETAIL & RESIDENTIAL INVESTMENT OPPORTUNITY

CGI image Investment Considerations The property comprises two retail units with 16 newly built flats above, which are being finished to an excellent standard The majority of the commercial income

2 CGI image Investment Considerations The property comprises two retail units with 16 newly built flats above, which are being finished to an excellent standard The majority of the commercial income derives from The Restaurant Group plc until 2031 (TOB 2022) which is trading as Frankie and Benny s The property is centrally located, less than 0.3 miles from both Southend Central and Southend Victoria train stations Southend is an affluent commuter town with excellent links to London Liverpool Street and London Fenchurch Street. The practical completion for the flats is June 2018 and the vendor will guarantee a rent of 185,640 p.a. for the residential element for one calendar year Total rent passing (including guarantee) of 259,966 p.a. Freehold We are instructed to seek offers in excess of 3,900,000 (Three Million Nine Hundred Thousand Pounds) subject to contract and exclusive of VAT, which reflects an overall gross yield of 6.67%.

Potters Bar J23 amwood A1 J25 Enfield A10 M25 Epping M11 J27 Chipping Ongar London Southend Airport Brent Walthanstow A12 A127 Cross J29 Stratford Romford Basildon A130 y A10 Ilford Dagenham Benfleet

Croydon on A232 A21 M2 Sutton M25 M20 som Sittingbourne Shoreham Snodland 4 A217 A23 Biggin Hill A22 J5 M26 M20 Sevenoaks M25 Maidstone J8 J7 J6 Oxted Reigate A26 Redhill A414 A12 A130 Billericay

approximately 39 miles (62 km) east of London, 19 miles (30 km) south of Chelmsford and 20 miles (32 km) east of Brentwood.

London Southend Airport is located 1.5 miles (2.4 km) to the north of the town centre, providing regular flights to a number of European destinations including Venice, Barcelona, Dubrovnik and Vienna.

3 Potters Bar J23 amwood A1 J25 Enfield A10 M25 Epping M11 J27 Chipping Ongar London Southend Airport Brent Walthanstow A12 A127 Cross J29 Stratford Romford Basildon A130 y A10 Ilford Dagenham Benfleet A13 A13 M25 LONDON London Stanford-le-Hope SOUTHEND-ON-SEA City Fulham A20 A2 ond Clapham Dartford A2 Gravesend ingston Sheerness J2 n Thames A20 A2 A23 Bromley Swanley A3 J3 Rochester Gillingham Croydon on A232 A21 M2 Sutton M25 M20 som Sittingbourne Shoreham Snodland 4 A217 A23 Biggin Hill A22 J5 M26 M20 Sevenoaks M25 Maidstone J8 J7 J6 Oxted Reigate A26 Redhill A414 A12 A130 Billericay Brentwood J28 Wickford London Fenchurch Street 51 minutes London Liverpool Street 58 minutes Location The popular seaside town of Southend-on-Sea is situated within the County of Essex located approximately 39 miles (62 km) east of London, 19 miles (30 km) south of Chelmsford and 20 miles (32 km) east of Brentwood. Road access to Southend is provided by the A127 dual carriageway which in turn, provides access to Junction 29 of the M25, approximately 20 miles (32 km) to the west. London Southend Airport is located 1.5 miles (2.4 km) to the north of the town centre, providing regular flights to a number of European destinations including Venice, Barcelona, Dubrovnik and Vienna. Southend-on-Sea boasts the largest leisure pier in the world. Southend the commuter town Southend provides excellent connections with central London and has become a popular commuter town in the last 5 years. In a recent report by the BBC, Southend was found to be one of the most affordable places for London commuters to live when taking into account house prices and train season tickets. Southend provides regular rail services (6 per hour at peak times) to London Liverpool Street with a fastest journey time of 58 minutes and Southend Central provides frequent services (9 per hour at peak times) to London Fenchurch Street, with a fastest journey time of 51 minutes. The subject property is 0.2 miles from Southend Victoria and 0.3 miles from Southend Central.

4 18-22 SOUTHCHURCH ROAD, SOUTHEND-ON-SEA, SS1 2NE FREEHOLD RETAIL & RESIDENTIAL INVESTMENT OPPORTUNITY Southend-on-Sea Crown Copyright, ES For identification purposes only. Experian Goad Plan Created: 20/03/2018

Situation The subject property is situated on a prominent corner position between Southchurch Road and Chichester Road and is

Southend High Street is located a one minute walk to the west and Southend Pier is 0.5 miles to the south.

Odeon Cinema, HSBC, Metro Bank, Slug and Lettuce, MacDonald s, Costa, WH Smith and Specsavers amongst a number of others.

To the ground floor there are two commercial units with one trading as a Frankie and Benny s restaurant and the other as a

5 Situation The subject property is situated on a prominent corner position between Southchurch Road and Chichester Road and is located adjacent to the recently re-landscaped Warrior Square. Southend High Street is located a one minute walk to the west and Southend Pier is 0.5 miles to the south. The immediate area is a mix of residential and commercial use with a number a national occupiers in close proximity including Odeon Cinema, HSBC, Metro Bank, Slug and Lettuce, MacDonald s, Costa, WH Smith and Specsavers amongst a number of others. Description The property comprises a 4 storey mix use building arranged over ground, first, second and third floors. To the ground floor there are two commercial units with one trading as a Frankie and Benny s restaurant and the other as a nail salon. To the three upper floors there are 16 newly built one and two bedroom self-contained flats. The flats are being finished to an excellent standard with full practical completion in June Tenure Freehold.

Retail Accommodation * Unit Tenant Floor Floor Area Sq ft Floor Area Sq m Lease Start Rent Review Lease Expiry (Break) Rent pa Rent psf Comments Frankie and Benny s 18-20 Southchurch Road Nail Icon

6 Retail Accommodation * Unit Tenant Floor Floor Area Sq ft Floor Area Sq m Lease Start Rent Review Lease Expiry (Break) Rent pa Rent psf Comments Frankie and Benny s Southchurch Road Nail Icon Salon 22 Southchurch Road The Restaurant Group plc Ground Floor and Basement 8, /1/2011 8/1/ /07/2031 (01/08/2022) 60, Individual Ground Floor 1, /12/2008 9/12/2013 9/11/ , The tenant (previously trading as Garfunkel s) has been in occupation for over 25 years The salon did not activate their break option for 2018 Total 9, ,326 Residential Accommodation * Flat Number Accommodation Floor Floor Area Sq ft Floor Area Sq m Rental Guarantee Rent Per month Rental Guarantee Rent Per annum Comments 1 Two Bedroom, Two Bathroom First ,200 2 Two Bedroom, Two Bathroom First ,500 3 Two Bedroom, One Bathroom First ,400 4 Two Bedroom, Two Bathroom First ,940 5 Two Bedroom, Two Bathroom First ,050 12,600 6 Two Bedroom, Two Bathroom First ,050 12,600 7 Two Bedroom, Two Bathroom Second ,100 8 Two Bedroom, Two Bathroom Second ,400 9 Two Bedroom, One Bathroom Second , Two Bedroom, Two Bedroom Second ,200 14,400 The flat has a large outdoor terrace space 11 Two Bedroom, Two Bedroom Second ,200 14,400 The flat has a large outdoor terrace space 12 One Bedroom, One Bathroom Third ,000 The flat has a balcony 13 One Bedroom, One Bathroom Third ,900 The flat has a balcony 14 One Bedroom, One Bathroom Third ,600 The flat has a balcony 15 Two Bedroom, Two Bathroom Third ,050 12,600 The flat has a balcony 16 Two Bedroom, Two Bathroom Third ,050 12,600 The flat has a balcony Total 11,576 1, ,640 Total Income for Commercial and Residential 259,966 *Measurements are approximate and provided by the vendor, any interested parties should carry out their own measured survey. The Vendor will provide one year of rental guarantee, on the condition the purchaser plans to rent the units Warranties The building will be sold with the benefit of 10 year structural warranty and a one year build warranty Section 106 There is an outstanding Section 106 payment of 120,000. This is payable to the Council upon occupation of the 5th flat. Purchasers should note that they will be liable for this outstanding cost so their bid should reflect this.

7 COVENANT The Restaurant Group (UK) Limited The Restaurant Group (UK) Limited is a subsidiary of The Restaurant Group PLC which is a significant player in the UK casual dining market, operating over 500 restaurants and pubs which include Frankie and Benny s, Chiquito, Coast to Coast, Garfunkel s, Firejacks, Brunning & Price and Joe s Kitchen. They also operate a concession business which trades over 60 outlets across more than 30 brands, primarily in UK airports. The Restaurant Group (UK) Limited has a D & B rating of 5A1 and has the following financial information: 01 Jan Dec Dec 2014 Turnover 524,136, ,074, ,722,000 Pre-Tax Profit (36,029,000) 69,353,000 73,487,000 Total Net Worth 60,684,000 96,216,000 98,199,000 DATAROOM For Access to the Allsop dataroom please use the following link: PROPOSAL We are instructed to seek offers in excess of 3,900,000 (Three Million Nine Hundred Thousand Pounds) subject to contract and exclusive of VAT, which reflects an overall gross yield of 6.67%. For further information or to make arrangements for viewing please contact: PRIVATE CLIENT TEAM RESIDENTIAL INVESTMENT & DEVELOPMENT Liam Stray liam.stray@allsop.co.uk Ronnie Morgan ronnie.morgan@allsop.co.uk William Shoebotham william.shoebotham@allsop.co.uk Victoria Barron victoria.barron@allsop.co.uk PRIVATECLIENT Misrepresentation Act: 1. Allsop LLP on its own behalf and on behalf of the vendor/lessor of this property whose agent Allsop LLP is, gives notice that: (a) these particulars do not constitute in whole or in part an offer or contract for sale or lease; (b) none of the statements contained in these particulars as to the property are to be relied on as statements or representations of fact; and (c) the vendor/lessor does not make or give, and neither Allsop LLP nor any of its members or any person in its employment has any authority to make or give, any representation or warranty whatsoever in relation to the property. The only representations, warranties, undertakings and contractual obligations to be given or undertaken by the vendor/lessor are those contained and expressly referred to in the written contract for sale or agreement for lease between the vendor/lessor and a purchaser or tenant. 2. Prospective purchasers or tenants are strongly advised to: (a) satisfy themselves as to the correctness of each statement contained in these particulars; (b) inspect the property and the neighbouring area; (c) ensure that any items expressed to be included are available and in working order; (d) arrange a full structural (and where appropriate environmental) survey of the property; and (e) carry out all necessary searches and enquiries. Allsop is the trading name of Allsop LLP. Design CommandD

(ODD NUMBERS ONLY) CONVENT ROAD, MIDDLESEX TW15 2HW

(ODD NUMBERS ONLY) CONVENT ROAD, MIDDLESEX TW15 2HW ON BEHALF OF JOINT FIXED CHARGE RECEIVERS Investment Considerations Freehold mixed use parade comprising: Nine ground floor shops each with a first & second floor flat (9 x 2 bedroom) Terrace of nine garages