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1 2 8 6 U P P E R S T R E E T I S L I N G T O N L O N D O N N 1 2 T Z L O N G L E A S E H O L D I N V E S T M E N T F O R S A L E

S U M M A R Y Ground and lower ground retail unit situated on popular Upper Street Well located in the heart of Islington Situated close to the new Islington Square scheme Bright and airy unit with

2 S U M M A R Y Ground and lower ground retail unit situated on popular Upper Street Well located in the heart of Islington Situated close to the new Islington Square scheme Bright and airy unit with excellent ceiling heights Approximately 913 sq. ft Long leasehold of 999 years with approx. 990 years remaining Let to Mercer Clothing Limited for a term of 10 years from the 30 th March 2010 and ending on and including, 29 th March 2020 Passing rent of 47,500 per annum exclusive Forthcoming rent review in March 2017 We are seeking unconditional offers in excess of 1,000,000 exclusive and subject to contract. At this level the purchase price reflects a net initial yield of 4.49% and a reversionary yield of 5.82% based on purchaser s costs of 5.58%.

L O C A T I O N C O M M U N I C A T I O N S The property is

of both Angel and Highbury & Islington stations.

including boutique shops, cafés, restaurants, and bars.

retail which should improve footfall significantly on the northern

Highbury & Islington (Great Northern, Overground, Victoria) 9

3 L O C A T I O N C O M M U N I C A T I O N S The property is located on Upper Street, the principal shopping thoroughfare within the Borough of Islington. The property is excellently situated being within walking distance of both Angel and Highbury & Islington stations. This section of Upper Street supports a vibrant mix of tenants including boutique shops, cafés, restaurants, and bars. Current developments in the area include the Islington Square mixed use scheme. This will primarily comprise of residential units as well as some retail which should improve footfall significantly on the northern section of Upper Street. Highbury & Islington (Great Northern, Overground, Victoria) 9 minute walk Essex Road (Great Northern) 9 minute walk Angel Station (Northern Line) 11 minute walk Please note: all times are approximate. HIGHBURY & ISLINGTON STATION 286 UPPER STREET ESSEX ROAD STATION ANGEL STATION KINGS CROSS STATION

D E S C R I P T I O N The property comprises a

The property benefits from a timber-framed, glazed

The ground floor retail space benefits from exposed

There is a storage cupboard and toilet located to the

Stairs located to the right of the main retail space

secondary retail space, storage and changing rooms.

4 D E S C R I P T I O N The property comprises a mid-terraced, ground floor and basement retail unit. The property benefits from a timber-framed, glazed frontage, with recessed access way. The ground floor retail space benefits from exposed timber floorboards and timber panelled walls. There is a storage cupboard and toilet located to the rear of the ground floor. Stairs located to the right of the main retail space provide access to the basement, which is used as secondary retail space, storage and changing rooms. The basement benefits from exposed timber floorboards and exposed brick walls. Towards the rear of the basement are a number of storage areas. A M E N I T I E S Plenty of storage space Staff WC Exposed timber/brick walls Exposed timber flooring External roller shutter

5 R E C E N T L E A S I N G E V I D E N C E T I T L E P L A N Address Tenant Date Zone A Rent Notes 261 Upper Street N1 Ms H Downes Jan sq ft (381 ITZA) ground floor and basement A1 unit let on a 10 year lease at 55,000 pa, subject to a 3 month rent free period. Tenant only break in Upper Street N1 Wild Swans Ltd Dec ,312 sq ft (378 ITZA) ground floor and basement A1 unit let on a 15 year lease at 65,000 pa, subject to a six month rent free period and rent reviews and mutual breaks 5 and 10. L E A S E P L A N S 146 Upper Street N1 Mailin + Goetz Ltd Sep sq ft (320 ITZA) ground floor and basement A1 unit let on a 10 year lease for 57,500 pa, subject to a three month rent free period and rent reviews in year 5. No breaks have been agreed. In our opinion, based on the above evidence we would apply a 165 Zone A as an ERV. This could provide an uplift at the March 2017 review to approximately 61,500 per annum (compared to the passing rent of 47,500 per annum). All parties must rely on their own investigations into the market rent, market incentives and assessment of rental evidence.

F L O O R A R E A S (Ap p r o x. N I A ) Floor Size (sq ft) Size (sq m) Ground 460 42.75 Basement 453 42.15 Total 913 84.9 ITZA 373 34.

6 F L O O R A R E A S (Ap p r o x. N I A ) Floor Size (sq ft) Size (sq m) Ground Basement Total ITZA T E N U R E Long leasehold: 999 years from 10 th September T E N A N C Y Tenant: MERCER CLOTHING LIMITED (co. no ). Trading as albam. Term: Under lease for a term of 10 years from the 30 th March 2010 and ending on and including, 29 th March The lease is held inside the security of tenure provisions of the 1954 Landlord & Tenant Act. Passing rent: 47,500 per annum exclusive Review: 30 th March 2013 & 30 th March 2017 Breaks: Tenant only break dates at the review dates subject to 6 months written notice. The 30 th March 2013 rent review is outstanding. U S E Retail within class A1 of the use classes order V A T We have been informed the property is not elected for VAT. B U S I N E S S R A T E S All interested parties should make their own enquiries with the London Borough of Islington. P R O P O S A L We are seeking unconditional offers in excess of 1,000,000 exclusive and subject to contract. At this level the purchase price reflects a net initial yield of 4.49% and a reversionary yield of 5.82% based on purchaser s costs of 5.58%. V I E W I N G S Strictly by appointment through sole agents: JOHN GIBLIN jgiblin@coppingjoyce.co.uk ELLIOT SMITH esmith@coppingjoyce.co.uk P L A N N I N G The subject property is locally listed and permitted development is restricted under Article 4. Speak to the local authority for further details. E P C G Misrepresentation Act 1967: Copping Joyce Surveyors Limited for themselves, for any joint agents and for the vendors, lessors or assignors of this property whose agents they are given notice that: (i) The particulars are set out as a general guide only for the guidance of intending purchasers or lessees and do not constitute, nor constitute part of, an offer or contract (ii) All descriptions, dimensions, references to condition and necessary permissions for use and occupation, and other details are given in good faith and are believed to be correct but any intending purchasers or tenants should not rely on them as statements or representations of fact but satisfy themselves by inspection or otherwise as to the correctness of each of them.(iii) No person in the employ of Copping Joyce Surveyors Limited or any joint agents has any authority to make or give any representation or warranty whatever in relation to this property (iv) All rentals and prices are quoted exclusive of VAT(v) All plant, machinery, equipment, services and fixtures and fittings referred to in these particulars were present at the date of publication. They have however not been tested and therefore we give no warranty as to their condition or operation. July 2016

Holland Street Portfolio. 5, 7 & 14 Holland Street, Kensington, London W8

Holland Street Portfolio. 5, 7 & 14 Holland Street, Kensington, London W8 5, 7 & 14 Holland Street, Kensington, London W8 October 2017 Investment Summary A unique portfolio of three boutique retail investments in Kensington Kensington is one of London s most affluent and popular