INVESTMENT AGENCY Marketing Particulars

Copping Joyce Surveyors Limited

Registered Office 27 Phipp Street, London EC2A 4NP

www.coppingjoyce.co.uk

Professional Department 020 7749 1040

Commercial Agency 020 7749 1041

Fax 020 7749 1042

Commercial Agency – Valuation – Landlord & Tenant – Development/ Investment – LPA Recoveries – Expert Witness

2 MERROW STREET, WALWORTH, SOUTHWARK, LONDON SE17 2NJ Approximately 1,018 sq.ft.

RETAIL INVESTMENT FOR SALE Ground floor retail investment

New 999 year lease

Let to Harvey and Thompson Limited (Trading as H & T

Pawnbrokers)

Attractive 7.07% net initial yield

INVESTMENT AGENCY Marketing Particulars

Copping Joyce Surveyors Limited

Registered Office 27 Phipp Street, London EC2A 4NP

www.coppingjoyce.co.uk

Professional Department 020 7749 1040

Commercial Agency 020 7749 1041

Fax 020 7749 1042

Commercial Agency – Valuation – Landlord & Tenant – Development/ Investment – LPA Recoveries – Expert Witness

INVESTMENT AGENCY Marketing Particulars

Copping Joyce Surveyors Limited

Registered Office 27 Phipp Street, London EC2A 4NP

www.coppingjoyce.co.uk

Professional Department 020 7749 1040

Commercial Agency 020 7749 1041

Fax 020 7749 1042

Commercial Agency – Valuation – Landlord & Tenant – Development/ Investment – LPA Recoveries – Expert Witness

LOCATION The property is well located at the western end of

Merrow Street, close to the junction with Walworth

Road, a busy retail thoroughfare in the London

Borough of Southwark. Nearby occupiers include

Marks and Spencer, Argos, Holland and Barrett

and an Iceland supermarket.

TRANSPORT

Elephant & Castle (Piccadilly, Circle and District

Lines) – 15 min walk (Bakerloo and Northern

Lines and National Rail Services)

Numerous bus routes also service the

immediate area

All walking distances/ times are approximate.

DESCRIPTION

The property comprises a ground floor retail unit

forming part of an end of terrace Victorian property.

The building is of solid brick construction under a

mansard roof.

The unit is currently occupied by Harvey &

Thompson Limited (trading as H & T Pawn Brokers)

who also occupy the adjacent building at 389

Walworth Road SE17.

TENANCY

Tenant: Harvey & Thompson Limited

Lease: 15 year lease from 21st

November 2012

(inside the security of tenure provisions of the

1954 L & T Act)

Passing rent: £9,000 per annum exclusive

Review: 21st

November 2017 & 21st

November

2022.

TENANT COVENANT

2015 Revenue of £89.2m (2014 £87.7m)

2015 profit before tax results of £6.8m (2014: £5.5m)

Experian Credit Risk score – Very Low Risk

Over 180 pawnbroker stores nationwide

APPROXIMATE FLOOR AREAS*

Floor Sq ft Sq m

Ground 1,018 94.70

Please note these floor areas have been taken

from the VOA website.

TENURE

New 999 year lease.

VAT TBC

RATES

We understand the rateable value is £5,900,

however all interested parties should make their

own enquiries London Borough of Southwark.

EPC

EPC rating of D (81).

PROPOSAL

We have been instructed to seek offers in excess

of £125,000 (One Hundred and Twenty-Five

thousand pounds) exclusive and subject to

contract for the long leasehold interest. This

equates to an attractive net initial yield of 7.07%

taking into account purchasers’ costs of 1.8%.

LEGAL COSTS

Each party to be responsible for their own legal

costs incurred in the transaction.

PLEASE CONTACT

Copping Joyce Tel: 020 7749 1041

John Giblin: jgiblin@coppingjoyce.co.uk

Jessica Furlong: jfurlong@coppingjoyce.co.uk

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. May 2016: subject to contract