45/47 & 49 endell street, covent garden london wc2 · 2016-05-13 · 45/47 & 49 endell...
TRANSCRIPT
well secured, central london, freehold investment
45/47 & 49 endell street, covent garden london wc2
45/47 & 49 endell street, covent garden london wc2
to Long Acre, Seven Dials, Shaftsbury Avenue and Leicester Square.
The property also benefits from being close to excellent transport
links. Covent Garden, Leicester Square, Tottenham Court Road and
Holborn London Underground Stations are all within a short walk
providing access to the Piccadilly, Northern and Central Lines. In
addition, Waterloo and Charing Cross mainline railway stations are
both easily accessible while multiple bus routes serve the area.
Heathrow International airport can be easily accessed directly via the
Piccadilly line within 45 minutes.
Retailing in covent GardenCovent Garden has become an internationally renowned area of
London. The central piazza, Long Acre and James Street are all
considered to be the ‘prime’ locations. Retailers represented within
the area include Next, Gap, H&M, Zara, Marks & Spencer, Reiss, Jack Wills and Hobbs. In addition to retailing, it has also become an
important office location particularly for the media business including
advertising, public relations and publishing. Seven Dials and Neal
Street, close to the subject property, are also well renowned location
for many national and local fashion retailers while the area is also a
strong A3 destination, benefitting directly both from the footfall
generated by Covent Garden and also the popular Theatre district
located around Shaftsbury Avenue.
SituationThe property occupies a prominent position on the corner of Endell
Street and Shorts Gardens (north-east of the central piazza). 45-47
Endell Street benefits from a return frontage onto Shorts Gardens,
thus the property is visible from Shaftsbury Avenue to the north and
Seven Dials to the west. To the south Endell Street meets Long Acre
which provides direct access to the central piazza.
LocationThe property is located within Covent Garden, one of the world’s
leading retail, leisure and tourist locations. Strategically located
between the City and West End, the property is within close proximity
Investment Summary
• Well secured central London freehold opportunity
located in Covent Garden.
• Well secured to The Rock & Sole Plaice
(The site has been trading as a fish & chip shop since 1871)
• Freehold
• Current income £96,600 pax.
• c.9.4 years unexpired
• £1,625,000 (subject to contract & exclusive of VAT)
• Attractive 5.60% net initial yield
Endell Street
Heathrow Airport45 mins via the
Piccadilly ine
45/47 & 49 endell street, covent garden london wc2
Tenancy/ AccommodationAddress Tenant Lease Floor Areas (Sq.Ft). EPc Rating Rent PAX
45/47 Endell Street
Pervin Ziyaeddin & Ismet Haasan Ziyaeddint/a The Rock & Sole Plaice
FR&I lease 15 years from 1st July 2007. The next rent review is in 2017. Approx. 9.4 years unexpired
Ground Floor ITZA: 333.01sq.ft.Basement Ancillary: 590sq.ft.A3 Planning
D £96,000 pax
49 Endell Street Ground Floor ITZA: 272.31sq.ft.Basement Ancillary: 567.98sq.ft.A1 Planning
Upper Floors 6 x Flats Long Leasehold (125 years from 25th December 1989. The next rent review is in 2014)
45/47 Endell Street Flat 1 C £600 pax(This will rise to
£1,200 in 2014)Flat 2 E
Flat 3 D
49 Endell Street Flat 1 D
Flat 2 C
Flat 3 F
£96,600 pax
DescriptionThe property comprises two adjacent terraced buildings of traditional
brick construction both arranged over ground, basement and three
upper floors. The ground floors are used for retail purposes, the
upper floors are residential flats each sold on long leases (101 years
unexpired). 45/47 Endell Street benefits from A3 planning consent.
The tenant has been granted a licence to place benches on the
pavement (Endell Street) outside the property. This land is outside
the vendors ownership and is not included in the sale.
Tenure Freehold.
Tenant covenants Tenant covenant details available upon request. The property is
thought to be the site of one of the first fish & chip shops in London;
records date back to 1871. For more information visit their website
www.rockandsoleplaice.com. The tenant has recently
undertaken extensive works to refurbish their kitchen and toilet
facilities in the basement.
current income pax£96,600 per annum exclusive.
VATThe property has not been elected for VAT.
Proposal£1,625,000 (One Million, Six Hundred and Twenty Five Thousand Pounds) Subject to Contract and exclusive of VAT,
reflecting an attractive net initial yield of 5.60%, allowing for
purchaser’s costs of 5.8%.
“This old Covent Garden
chippy is an institution ”John Torode
(Masterchef UK TV host & restauranteur)
‘The world’s ten best restaurants’ 2012’
Daily Mail
45/47 & 49 endell street, covent garden london wc2
Further Details
David Freeman
020-7659-4830
James Baillie
020-7659-4839
Ed Smith
020-7659-4831
MISREPRESENTATION These particulars do not constitute an offer or contract. They are intended as a guide to prospective purchasers. All reasonable care has been taken in the preparation of these particulars but their accuracy is not guaranteed. The purchaser should satisfy himself and as to the correctness of these details. Neither the agents nor the vendors or lessors are to be or become under any liability or claim in respect of these particulars. These particulars are supplied on the understanding that all negotiations are conducted through this office. January 2013. Adrian Gates Photography & Design 07710 316991
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28 - 30
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5553
57- 5
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REE
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(PEDESTRIANS ONLY EXCEPT LOADING7.00AM
- 11.00AMMON
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(2 RETAIL FLOORS)
(3 RETAIL FLOORS)
CLOSED
(3RETAIL
FLOORS)
OVER
(PEDESTRIANSONLY)
(2RET
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SEVEN DIALS
(2 RETAIL FLOORS)
(2RETAIL
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RS)
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SHAF
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URY
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&
(MARKET STALLS)
(2 RETAIL FLOO
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&(PEDESTRIANS ONLY)
(2 RE
ENT
DWELLINGS
ENT
ENT
ENT
DWELLINGS
DWELLINGS
ENT
ENT
ENT
ENT
ENTENTRANCE
DWGS
DWELLINGS
DWELLINGS
ENTRANCEENT
DWELLINGS
DWELLINGS
ENT
ENTENT
DWELLINGS
ENT
ENT
ENT
ENT
DWELLINGS
DWELLINGS
DWGS
DWG
S
ENT
ENT
ENTRANCE
DW
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ENT
ENTRANCE
ENTRANCE
ENT
GS
ENT
DWELLINGS
ENTRANCE
ENT
20
4 - 7
47
53A
189
28
61
12
74
45
18- 20
29
1 - 26
24
16
41
40
28
9 - 15
2
80
167 - 1
69
53 19 - 27
(40) (ESTIMATED)