MULTI LET COMMERCIAL INVESTMENT WANDSWORTH, SW18

INVESTMENT SUMMARY

• 5 commercial ground floor units within Mount Anvil’s award winning Filaments scheme.

• Highly attractive multi-let commercial investment.

• Situated in a prominent location within Wandsworth adjacent to the Southside Shopping Centre and Ram Brewery development.

• Virtual Freehold.

• Total gross internal area of approximately 12,088 sq ft (1,123 sq m).

• Total income of £328,132 per annum, reflecting a low overall rent of £27.15 per sq ft.

• Weighted Average Unexpired Lease Term of approximately 8.86 years and 3.40 years to breaks.

• Offers are invited in excess of £5,085,000 subject to contract and exclusive of VAT which reflect a NIY of 6.10% and a capital value of £421 per sq ft based on purchasers costs of 5.80%.

LOCATION

The Filaments is a residential led mixed use development that is situated within the heart of the London Borough

of Wandsworth. Due to an ongoing £1 billion town centre regeneration project the area is currently receiving

huge investment and undergoing a significant transformation, which has resulted in an increase in retail, leisure,

employment and delivery of commercial floor space.

Wandsworth Town Centre is a lively hub in the affluent South West London borough. It is well served by excellent

communication links and defined by an expansive and eclectic mix of shops, clubs, pubs and restaurants.

The Filaments scheme is situated along Buckhold Road which acts as a main transport/traffic artery into

Wandsworth Town Centre and neighbouring SW London boroughs. The subject opportunity occupies a

prominent position opposite to the recently extended and trading Southside Shopping Centre and adjacent to

Workspace’s Light Bulb office scheme. Wandsworth High Street and Garret Lane are within a 2 & 5 minutes’ walk

away, with the picturesque and elegant Kings George Park located opposite the scheme.

The scheme is within a well-established and successful retail and office location. The town centre regeneration

project has resulted in the extension of Southside Shopping Centre to now provide 650,000 sq ft of retail

space. Established retailers such as Debenhams, Café Nero and Planet Organic have recently acquired floor

space to join existing commercial occupiers such as Waitrose, Topshop and Virgin Active. The continued mixed

use development has clearly increased the residential and commercial popularity of the area, which in turn has

further enhanced Wandsworth Town Centre as a key retail and office destination.

CONNECTIVITY

Wandsworth is well served by both trains and buses, making it an easy commute into Central London. Wandsworth

Town Station is less than a 10 minute walk from the scheme, providing direct access to both Clapham Junction

(Overground and National Rail Lines) and Waterloo (Bakerloo, Jubilee, Northern, Waterloo & City underground

line, and National Rail) stations. A number of bus routes also pass directly outside the scheme.

Wandsworth Town 9 mins walk

East Putney 14 mins walk

Clapham Junction 18 mins

Waterloo 31 mins

Victoria 34 mins

SOUTH THAMESCOLLEGE

THE RAM BREWERYTHE RAM BREWERY

SOUTH THAMESCOLLEGE

BARS, RESTAURANTS & LEISURE

1 Gourmet Burger Kitchen

2 Wagamama3 Rossopomodoro4 Cineworld5 Nandos

6 Marco Polo 7 Costa Coffee8 Café Nero9 Grand Union

10 Pure Gym11 Premier Inn

COMMERCE & EDUCATION

1 Chelsea Cars2 Eagle Rock

Recording Studio 3 Wandsworth

Town Hall

4 Wallis UK5 Youngs Brewery6 South Thames

College

1

3

9 11

10

6

8

4

2

5 7

121

2

4

5

811

7

9 10

3

6

1

2

4 5

3

6

RETAILERS

1 Gap2 Waitrose3 H&M

4 Debenhams5 M&S6 Planet Organic

7 Roche Bobois8 Cotswold9 Evans Cycles

10 Natwest11 TSB12 Sainsbury’s

RAM BREWERY - GREENLAND INVESTMENT

CARTERS YARD - PEABODY HOUSING

LAND SOUTH OF OSIERS ROAD - TAYLOR WIMPEY

OSIERS - TAYLOR WIMPEY

SOUTHSIDE SHOPPING CENTRE - DELANCY & METRO

COLLEGE TOWER AND WELBECK HOUSE - SOUTH THAMES COLLAGE

RADIUS - TAYLOR WIMPEY

BATTERSEA REACH - BERKELEY HOMESRIVERSIDE QUARTER -

FRAZERS PROPERTY

DEVELOPMENT ACTIVITYIn recent years, Wandsworth has benefited from a wave of investment in residential and commercial developments and regeneration schemes, which include:-

1 RAM BREWERY - GREENLAND INVESTMENT

• 661 residential units• 102,000 sq ft of retail.• Status: Under Construction

Completion Q4 2017.

2 COLLEGE TOWER AND WELBECK HOUSE - SOUTH THAMES COLLAGE

• Proposal for 201 residential units.• 25,000 sq ft of retail.• Status: Planning Granted January 2015

3 SOUTHSIDE SHOPPING CENTRE - DELANCY & METRO

• Extension of the existing shopping centre to provide an additional 33,000 sq ft of retail and restaurant.

• Total size of 650,000 sq ft.• Status: Under Construction

Completion imminent.

4 THE LIGHT BULB - WORKSPACE• Workspace centre providing 73,580 sq ft

of B1 (office).• Status: Completed 2015.

5 FORMER TA CENTRE - WORKSPACE • 77 residential units.• 24,000 sq ft of B1 (office).• 1,750 sq ft of retail.• Status: Planning permission granted.

6 CARTERS YARD - PEABODY HOUSING

• Construction of 41 residential units.• C.600 sq ft of flexible commercial space.• Status: Under Construction

Completion Q4 2015.

7 LAND SOUTH OF OSIERS ROAD - TAYLOR WIMPEY

• 85 new residential units.• Status: Detailed planning

being sought.

8 RIVERSIDE QUARTER - FRAZERS PROPERTY

• 326 residential units completed.• Next phase to deliver 99 residential

units – completion 2016.• Status: Part Complete.

9 RADIUS - TAYLOR WIMPEY• 152 residential units.• 24,000 sq ft of flexible

commercial space.• Status: Complete.

10 BATTERSEA REACH - BERKELEY HOMES

• 1,084 residential units.• Extensive commercial.• Status: Final Phases under construction.

11 OSIERS - TAYLOR WIMPEY • 275 new residential units.• 32,000 sq ft of B1 (office) and

retail space.• Status: Under Construction.

3

2

10

6

4

7

1

98

11

Recent/Proposed Development.

The Filaments sellable area. 5

THE LIGHT BULB - WORKSPACE

FORMER TA CENTRE - WORKSPACE

UNIT 3GLTC

ResidentialReception

Lift 1

Lift 2

UNIT 4 & 5ATOS

UNIT 29 ROUNDS

UNIT 1UNDEROFFER

Hardwick’s Square

Buckhold

Road

SITE PLAN - GROUND FLOOR

DESCRIPTION

The Filaments is an award winning, newly built mixed use development by Mount

Anvil (Developer of the Year (up to 1,000 homes) at RESI Awards 2013, 2014, 2015)

and designed by highly renowned architects Rolfe Judd. The development features 416

residential units and c.85,700 sq ft of mixed use commercial space. Workspace Group,

one of London’s leading providers of business space, has acquired 73,580 sq ft of this

commercial space to create The Light Bulb – a bespoke office development within the

Filaments scheme. Workspace Group have also been granted planning permission to

erect an additional mixed use development, directly opposite the subject opportunity,

adding a further 24,000 sq ft of office, 1,750 sq ft of retail and 77 residential units.

The subject opportunity comprises 5 commercial ground floor units located adjacent to

Workspaces Light Bulb office scheme.

All 5 units are situated on the eastern part of the scheme. Units 1, 2 and 3 benefit from

prominent frontage onto the popular Buckhold Road. Units 4 and 5 are located adjacent

to Workspaces Light Bulb development, along the pedestrianised thoroughfare leading

through to Hardwick Square. All the units benefit from new hard landscaping at their

frontages in the form of new paving, planters and trees arranged in a boulevard style.

ACCOMMODATION SCHEDULEUNIT AREA

SQ M GIAAREA

SQ FT GIA SPECIFICATION USE CLASS

1 151 1,625 Landlord fit out in situ A1-A5, B1

2 79 850Let Shell & Core, tenant

undertaking fit out.D2

3 514 5,533Let Shell & Core, tenant

undertaking fit out.A1 & B1

4 199 2,142 Let Shell & Core, tenant has completed fit out

D15 180 1,938

TOTAL 1,123 12,088

TENANCY SCHEDULE

Demise Tenant Size GIA (sq ft)

Rent (£pa)

Rent (£psf)

Lease Start

Break Date Review Date Lease Expiry Comments

Unit 1 Under Offer 1,625 £44,990 £27.69 - - - -Under offer at £44,990 pa. Vendor to offer a rental guarantee for 12 months at agreed rent if not let at time of sale.The terms of the imminent letting are available upon request.

Unit 2Lift Brands UK Limited, t/a 9 Rounds

850 £28,000 £32.94 07/10/20156/10/2020

(Mutual)07/10/2020 06/10/2025

6 months’ rent free *6 months’ (£14,000) rent deposit plus VAT.

Unit 3 G.L.T.C Limited 5,533 £146,333 £26.45 06/10/201505/10/202005/10/2025

(Tenant)

05/10/202005/10/2025

05/10/2030

9 months’ initial rent free plus a further 5 months in respect of each break date if the breaks are not operated.* 6 months’ (£73,166) rent deposit plus VAT.S/C at £19,237 pa in the first year increasing by no more than RPI each year.

Unit 4 & 5Atos IT Services UK Limited

4,080 £108,809 £26.67 29/05/2015

31/07/201731/07/201831/07/2019

(Tenant)

N/A 31/07/2020

12,088 £328,132 £27.15

Weighted Average Unexpired Lease Term of 8.86 years and 3.40 years to inital break. * Subject to 12 month guarantee.*The vendor will top up any initial rent free outstanding at the time of sale.All leases are excluded from the Landlord & Tenant Act.

BUCKHOLD ROAD

SOUTHSIDE SHOPPING CENTRE

TRADERS HALLMULTISTOREY CAR PARK

HARDWICKS SQ

UARE

HARDWICKS SQUARE

SPECTRUM WAY

COVENANT INFORMATION

Great Little Trading Company (44% of Income) – The Great Little Trading Company is an award winning

children furniture and clothing company. The company has a D&B rating of 1A3 - The tenant has provided a

6 month rent deposit. www.gltc.co.uk

ATOS SE (33% of Income) – Atos SE (Societas europaea) is an international information technology services

company with 93,000 employees in 72 countries. The company has a D&B rating of 5A1. www.uk.atos.net

Lift Brands UK Limited t/a 9Rounds (9% of Income) – Lift Brands is a collection of fitness orientated

businesses. The franchise occupying the unit will be 9Rounds. This is a specialised gym operator, focusing

on boxing and kickboxing fitness. It is one of the fastest growing kickboxing franchises in the USA, with the

Filaments accommodating one of the first UK franchises. The company has a D&B rating of N3 - the tenant has

provided a 6 month rent deposit. www.liftbrands.com

Subject to contract. Union Street Partners for themselves and the vendor of this property give notice that these particulars do not form, or form part of, any offer or contract. They are intended to give fair description of the property and whilst every effort has been made to ensure their accuracy this cannot be guaranteed. Any intending purchaser must therefore satisfy themselves by inspection or otherwise. Neither Union Street Partners, nor any of its employees, has any authority to make or give any further representations or warranty whatsoever in relation to this property. All prices and rents quoted are net of VAT. October 2015

DESIGNED & PRODUCED BY CRE8TE - 020 3468 5760 - www.cre8te.london

PLANNING

The initial planning consent permitted a variety of uses as follows;

- Units 1, 2 & 3 A1-A5 & B1

- Units 4 & 5 A1-A5, B1, D1 & D2

Subsequently, Unit 2 has obtained planning consent for D2 and Unit 1 is in the process of

obtaining consent for ‘Sui Generis Use’ for Skin & Beauty Boutique.

TENURE

The property is held on a long lease for a term of 999 years from 30th January 2015 at a

peppercorn under title number:- TGL419541.

PROPOSAL

We are instructed to seek offers in excess of £5,085,000 (Five Million And Eighty Five Thousand Pounds), subject to contract and exclusive of VAT for the virtual freehold interest.

A purchase at this level reflects a net initial yield of 6.10% after full purchaser’s costs of 5.80%, and a capital value of £421 per square foot.

VAT

The property has been elected for VAT. It is anticipated that the sale of the property will be

treated as a Transfer of a Going Concern (TOGC).

EPC

The property has an EPC rating of B. A full copy is available in the data room.

DATA ROOM

Access can be provided to the solicitor’s secure data room upon request.

• Occupational underleases

• Head lease

• Plans

• Service Charge Information

• Further title information

• EPC

• Spec of tenant works and deeds of alteration

CONTACT

NICK WILSON

020 7855 3537

nw@unionstreetpartners.co.uk

PHILIP MARTIN

020 3328 5372

pm@unionstreetpartners.co.uk

ON BEHALF OF