Download pdf version - Fletcher King

COVENANT INFORMATION
B & Q plc report the following numbers:
Year end 31.1.09 2.2.08 3.2.07
Turnover £3,683,000,000 £3,854,900,000 £3,817,900,000
Pretax profit £113,700,000 £170,700,000 £254,900,000
The ultimate holding company is Kingfisher Plc a business on the London Stock Exchange
with a market capitalisation in the order of £5.27bn (as at 22 January 2010)
PROPOSAL
We are seeking offers in the region of £3,300,000 (Three million, three hundred thousand
pounds) subject to contract and exclusive of VAT. A purchase at this level reflects a net
initial yield of 8.1% after allowing for purchasers costs of 5.75% and £102.50 per sq.ft.
INVESTMENT RATIONALE
• Passing rent reflects a modest £8.74 per sq.ft.
• Prominent Site
• Strong and growing demographic profile
• Attractive net initial yield of 8.1% and £102.50 per sq.ft capital value.
FURTHER INFORMATION
George Brooksbank
David Mayes
0207 458 0645 0207 458 0624
gb@fletcherking.co.uk
dm@fletcherking.co.uk
Misrepresentation Clause: Fletcher King themselves and for the vendors of the property whose agents they are give notice that: Particulars are set out as a general outline only for the guidance of intending purchasers and do not
constitute nor constitute part of an offer or contract; All descriptions, dimensions, references to conditions and necessary permissions for use and occupation and their details are given in good faith and are believed to be correct
but any intending purchaser should not rely on them as statements or representations of fact but must satisfy themselves by inspection or otherwise as to the correctness of each of them; No person in the employment of Fletcher
King has any authority to make or give any presentation or warranty whatever in relation to these properties or their particulars nor enter into any contract relating to the property on behalf of Fletcher King nor any contract on
behalf of the vendor; No responsibility can be accepted to any expenses incurred by intending purchasers in inspecting property or undertaking due diligence; Fletcher King has not made any investigations into the existence or
otherwise of any issues concerning pollution and potential land, air or water contamination. The purchaser is responsible for making his own enquiries in this regard. January 2010