195-200 HIGH ROAD LOUGHTON ESSEX - DBA Properties

More documents

Recommendations

Info

CENTRIC PARADE 195-200 HIGH ROAD, LOUGHTON, ESSEXLocationSituated within the M25 and London commuter belt, the affluent residential townof Loughton is located in the Epping Forest district of Essex. Loughton isapproximately 16.0 kilometres (10.0 miles) north east of Central London withneighbouring locations including Enfield to the west, Epping to the north andWoodford to the south.Loughton is an established and prosperous urban retailing centre with a mix ofluxury and designer clothing stores and national multiples including Marks &Spencer, Sainsburys, Clinton Cards, Bang & Olufsen, New Look, Specsavers,Mackays and Holland & Barrett.DemographicsLoughton has a district population of 121,000 and a catchment populationof 717,000 within 10.0 kilometres (6.5 miles). According to the CACI Lifestyleindex, over 40% of the population in Loughton are attributed to the categoriesof ‘Wealthy Executive and Flourishing/Secure Families’. Over 50% of theworkforce is employed in higher and intermediate managerial andprofessional roles.Source: 2001 CensusCommunicationsLoughton benefits from excellent communications:Junction 5 of the M11 is situated approximately 2.0 kilometres (1.2 miles) eastwhilst Junction 26 of the M25 lies approximately 5.0 kilometres (3.1 miles) north.Additionally, the A121 links with the A104 to provide access to the A406 NorthCircular approximately 5.9 kilometres (3.7 miles) to the south.Loughton underground station provides direct access to Central London viathe central line with a fastest journey time of approximately 25 minutes toOxford Circus.Stansted International Airport is situated some 41.1 kilometres (25.5 miles) tothe north whilst Heathrow Airport is located approximately 74.2 kilometres (46.1miles) to the south-west providing flights to international destinations.SituationThe property is situated on the western side of the A121 High Road close to itsjunction with Forest Road. Access to the rear of the property is via Clifton Road,a residential street.The property is situated in a 100% prime retailing pitch in the town centre inclose proximity to the new Marks & Spencer Department Store incorporating90 car parking spaces. Other retailers in the immediate vicinity include ClintonCards, Intersport, New Look and Dorothy Perkins.Loughton underground station is situated approximately 600 metres south ofthe property.
CENTRIC PARADE 195-200 HIGH ROAD, LOUGHTON, ESSEXDescriptionThe property was built in the 1960’s comprising six retail units of concreteencased steel and steel lattice framed construction with brickwork and pre-castconcrete panel infills. The roof is of flat construction supported on a profiledsteel deck providing parking via a ramp to the rear of the property.Each unit benefits from single glazed steel crittal windows and individualservicing to the rear of the property via galvanised steel roller shutter doors.Storage is provided to the rear of the units whilst the Pizza Hut unit incorporatesfirst floor accommodation. Unit 5 benefits from additional storageaccommodation on the roof.Furthermore, the units benefit from carpeted solid floors, suspended ceilingsand integral fluorescent lighting.AccommodationThe investment has recently been measured totalling a net internal floor area of2074.5 sq m (22,330 sq ft).For apportioned areas please see the tenancy and accommodation schedule.The property benefits from a total of 15 car parking spaces situated on the roofand to the rear of the property.TenancyThe property is multi-let producing a total income of £392,945 per annum.The outstanding rent reviews on Units 1, 2 and 6 have been guaranteed by thevendor for a period of six months in order to settle the outstanding reviews.These rental guarantees total £58,445 per annum. The guaranteed rentequating to £764 per sq m (£71.17 per sq ft) Zone A is based upon the recentlysettled September 2004 Clarks rent review at Unit 4.Please see tenancy and accommodation schedule.CovenantCovenant Date of Turnover Pre tax Net Dun &Accounts profit Asset BradstreetSuperdrug Stores Plc 25/12/04 £988m £14m £50m 4A1Pizza Hut (UK) Ltd 28/11/04 £384m £74m £83m 5A1WH Smith Plc 12/31/05 £2.5bn £73m £113m 4A2Mackay Stores Group Ltd 25/02/05 £145m £15m £67m 5A1C&J Clark International Ltd 31/01/05 £667m £63m £78m 5A1Clinton Cards (Essex) Ltd 30/01/05 £325m £25m £50m 5A1The site area is approximately 0.19 hectares (0.5 acres).TenureFreehold
Page 2: CENTRIC PARADE 195-200 HIGH ROAD, L
Page 8 and 9: CENTRIC PARADE 195-200 HIGH ROAD, L
Page 10 and 11: CENTRIC PARADE 195-200 HIGH ROAD, L
Page 12: David Baroukh Associates6a Wimpole

195-200 HIGH ROAD LOUGHTON ESSEX - DBA Properties

You also want an ePaper? Increase the reach of your titles

Delete template?

Save as template?