Nisa Local, Canary Central, Cassilis Road, Docklands, London E14 9LQ. High Yielding Convenience Store Investment Opportunity

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Bryce Moris Evans
5 years ago
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1 Nisa Local, Canary Central, Cassilis Road, Docklands, London E14 9LQ High Yielding Convenience Store Investment Opportunity

Unexpired lease term of approximately 9.9 years. Current passing rent of 90,376 per annum. Virtual Freehold.

2 Investment Highlights Convenience store investment forming part of a substantial 406 unit residential development. Located in the heart of London Docklands Millenium Quarter immediately south of Canary Wharf. Unexpired lease term of approximately 9.9 years. Current passing rent of 90,376 per annum. Virtual Freehold. Offers sought in excess of 1,050,000 subject to contract, reflecting a Net Initial Yield of 8.14% (assuming the deduction of full purchasing costs of 5.80%), and a capital value of 267 psf.

Location A glistening showcase of modern convenience, designer shopping, fine cuisine, entertainment and style, Canary Wharf far exceeds its reputation as the financial centre of London.

3 Location A glistening showcase of modern convenience, designer shopping, fine cuisine, entertainment and style, Canary Wharf far exceeds its reputation as the financial centre of London. Encompassing over 97 acres of sky-high architecture, global headquarters and an advanced infra-structure to match, it is no wonder that the district has amassed one of the most prestigious lists of banks and financial institutions seen anywhere in the world. With over 93,000 people working in and commuting to Canary Wharf daily, the area remains an ideal investment opportunity. The subject premises are situated within a substantial 406 unit residential development on Cassilis Road, in the London Borough of Tower Hamlets, and within a 5 minute walk from the heart of Canary Wharf. The tenant benefits from a large local audience generated by numerous other major residential schemes including Galliard Homes Canary Quarter and Lincoln Plaza, along with Ballymore s 199 Mastmaker Court developments.

4 Communications The subject premises benefits from excellent public transport links with Canary Wharf underground station and South Quay DLR within a short walking distance. Canary Wharf will be one of the largest Crossrail Stations, providing direct communications with Liverpool Street, Bond Street, Farringdon and out to Heathrow and Maidenhead. The new service will carry up to 78,000 passengers per hour (double the capacity of the Jubilee Line), and trains will run in each direction from Canary Wharf every 5 minutes at peak times. Construction works on the station commenced in early 2013 and are scheduled to complete by December Crossrail is currently due to be fully operational in Central London by Easy access is provided from the A13, leading to quick journey times to the City and West End, as well as the M25 and M11 motorways.

5 Description The premises comprise a ground floor retail unit which forms part of a substantial residential development completed in The development consists of 406 one, two and three bedroom luxury apartments. We have been advised of the following Net Internal Areas: UNIT USE FLOOR SQ FT SQ M 1 A1 Ground 3,

6 Tenancy UNIT TENANT LEASE TERM 1 JMD Garages 15 years, Ltd.(t/a Nisa FR&I Local) LEASE START LEASE EXPIRY UNEXPIRED LEASE TERM RENT REVIEW 23 Dec Dec years 5 yearly to OMRV RENT RENT L&T RENT (P.A.X.) (P.S.F.) ACT DEPOSIT 90, Outside 15,000 A lease guarantor is in place. Tenure The property is held on a 999 year head-lease from 22 nd September 2006 at a peppercorn ground rent. VAT The property is not elected for VAT. Proposal We are instructed to seek offers in excess of 1,050,000 subject to contract, reflecting a Net Initial Yield of 8.14% (assuming the deduction of purchasing costs of 5.80%), and a capital value of 267 psf. Further Information George Collins Adam Velleman E: george@burlingtonpartners.com E: adam@burlingtonpartners.com T: T: M: M:

Misrepresentation Clause: Burlington Partners LLP for themselves, their Associated Companies, their employees and for the vendors or lessors of the properties whose agents they are give notice that:-

7 Misrepresentation Clause: Burlington Partners LLP for themselves, their Associated Companies, their employees and for the vendors or lessors of the properties whose agents they are give notice that:- 1. All particulars or properties provided are given as a general outline only for the guidance of intending purchaser, lessee or tenant, and do not constitute, nor constitute part of, an offer or contract. 2. Whilst all particulars of properties given including but not limited to descriptions, dimensions, references to condition and necessary permissions for use and occupation and maps are believed to be correct and are given in good faith, they are however given without responsibility on the part of Burlington Partners LLP, their Associated Companies, their employees and or the vendors or lessors as the case may be. 3. None of the statements contained in any particulars is to be relied upon as a statement or representation of fact. 4. Any intending purchaser or lessee or tenant should not rely on any particulars provided by us and must satisfy themselves by inspection or otherwise as to the correctness of each statement made in such particulars. 5. The vendor or lessor (as the case may be) do not make or give and neither Burlington Partners LLP, their Associated Companies or any person in their employment have any authority to make or give any representation or warranty whatever in relation to any properties. March 2014

130 City Road, London EC1V 2NW

31 Old Burlington Street, Mayfair, London W1S 3AS 020 7292 7404 www.burlingtonpartners.com 130 City Road, London EC1V 2NW Central London Multi-Let Investment Opportunity with Considerable Active Management