Upload
others
View
39
Download
1
Embed Size (px)
Citation preview
93-99 QUEENSWAY ✦ 1-9 DUKE’S COURTLONDON W2
INVESTMENT SUMMARY✦ Prominent Freehold corner site
✦ Situated on the prime Queensway pitch adjacent to Bayswater London Underground station
✦ Substantial ongoing investment and regeneration of the immediate surrounding area
✦ Retail, leisure and one residential unit totalling 9,038 sq ft (839.7 sq m) arranged over basement, ground and first floors, remaining residential uppers (eight flats) are sold off on long leases
✦ Fully let to excellent covenants - Barclays Bank and Spirit Pub Company
✦ Pub lease guaranteed by 5A1 covenant Spirit Group Parent Ltd, a wholly owned subsidiary of Green King Plc
✦ WAULT of 21.5 years to lease expiries (no breaks)
✦ Total passing rent of £555,310 per annum
✦ Lapsed 2016 Planning Consent for three additional flats provides an opportunity to add massing and value
✦ Residential uppers (sold off) comprise nine flats of which six have under 65 years remaining
✦ Opportunity to realise lease extension premiums on the majority of the residential units
✦ No VAT applicable
✦ Offers are invited in excess of £10,950,000 (Ten Million Nine Hundred and Fifty Thousand Pounds), subject to contract. Pricing at this level reflects a Net Initial Yield of 4.75% assuming full purchaser’s costs of 6.70%.
93-99 QUEENSWAY ✦ 1-9 DUKE’S COURT 93-99 QUEENSWAY ✦ 1-9 DUKE’S COURTLONDON W2 LONDON W2
BAYSWATER QUEENSWAY
MARYLEBONE
ST. JAMES’S
THE SERPENTINE
HYDE PARK
MAYFAIR
FITZROVIA SOHO
THE CITY
PADDINGTON
93-99 QUEENSWAY ✦ 1-9 DUKE’S COURT 93-99 QUEENSWAY ✦ 1-9 DUKE’S COURTLONDON W2 LONDON W2
LOCATION & SITUATIONThe property is located in Queensway in central London. Queensway is bordered by Notting Hill (west), Kensington (south), Paddington / Marylebone (east) and Maida Vale (north).
The location is internationally recognised as one of London’s most desirable and affluent neighbourhoods, characterised as a premier retail, residential and leisure destination, home to fashionable boutiques, restaurants, markets and bars. Tourism is a significant driver of the local economy with nearby Portobello Road market and the Notting Hill Carnival attracting millions of visitors each year.
Whiteleys Shopping Centre has traditionally been the focus of Queensway’s retailing, which closed in 2018 and is now undergoing a £1 billion redevelopment by
Meyer Bergman that includes new retail, residential and leisure amenities. Significant stakeholders investing in the area’s regeneration project also include GMS Estates and Bourne Capital.
Queensway is a desirable residential location due to its proximity to London’s open green spaces of Hyde Park and Kensington Gardens to the south.
The building occupies a prominent corner position on the western side of Queensway, at its junction with Moscow Road, and benefits from being immediately adjacent to Bayswater London Underground Station. Queensway acts as a strategic link between Westbourne Grove and Bayswater Road.
Hatherley
Inve
rne
ss Terra
ce
WESTWAY A40
K N I G H T S B R I D G E
B E L G R AV I A
W E S TK E N S I N G T O N
PA D D I N G T O N
B AY S WAT E R
N O T T I N G H I L L
K E N S A LT O W N
M A R Y L E B O N E
M A I D A VA L E
M AY F A I R
K E N S I N G T O N
Edgware Road
Edgware Road
Baker StreetMarylebone
Regent’s Park
Maida Vale
Paddington
Marble Arch
Bond Street
Kensington Olympia
Shepherd’s Bush
Ladbroke Grove
Holland Park
Queensway
Bayswater
Royal Oak
Warwick Avenue
Knightsbridge
South KensingtonGloucester Road
High Street Kensington
SloaneSquare
Hyde Park Corner
Blythe Road
Portobello R
oad
Ladbroke Road
Chepstow Villa
s
Ab
oo
tsbury Road
Ad
dison Roa
d
Ho
lland
Villa
s Roa
d
Ca
mp
den H
ill Road
Phillimore G
ard
ens
Kensing
ton Pa
lac
e G
ard
ens
Earls’s C
ourt Ro
ad
Ma
rloe
s Ro
ad
Vic
toria
Ro
ad Qu
ee
n’s G
ate
Exhib
ition
Ro
ad
Prince Consort Road
Thurloe Place
South Carriage Drive
Belgra
ve SquareBelgrave Place
Eccleston Stree
t
Gro
sven
or C
res
Ebur
y St
reet
Elizabeth St
Constitution Hill
Curzon Street
New
Bond Street
Craven Road Connaught Street
Seym
our Pla
ce
Portman SqUpper Berkeley Street
George Street
Paddington StreetYork St
Glo
uce
ster Pla
ce
Devonshire Street
Weymouth Street
New Cavendish Street
Oxford Gardens
Kensal Road
Golb
orne R
oad
Ashm
ore
Road
Fern
he
ad
Ro
ad
Ilbert Street
Droop Street
Shirland Road
Shirland Road
Sutherland Avenue
Lauderdale Road
Abercorn
Place
Lower Belgrave Street
Easton Place
Eaton Terrace
Bourne Street
Draycott Avenue Drayc
ott Place
Walto
n Stre
et
Hans Road
Kinne
rto n Stree
t
Ca
do
ga
n Pla
ce
Ca
do
ga
n La
ne
Pavilio
n R
oa
d
Pavilio
n Ro
ad
Motc
omb St
Eato
n Pla
ce
Chapel Stre
et
Princes Gardens
Ennismore Gdns
Harrington Gardens
Colling
ham
Road
Gloucester Roa
d
Laverton Pla
ce
Elvaston Place
Cornwall Gardens
Wrig
hts Lane
Lexham Gardens
Ho
rnton Street
Pala
ce
Ave
nue
Pala
ce
Ga
rde
ns Terra
ce
Brunswic
k Gd
ns
Bedford Gardens
Kensington Place
Uxbridge Street
Peel Street
Duchess of Bedford’s Walk
Phillimore W
alk
Pem
bro
ke V
illas
Melbury Road
Holland Park Road
Edwardes Sq
Holland Park
Holland Park Mews
Holland Pa
rk
Lansd
owne Ro
ad
Ladbroke Square
Portland
Road
Pottery Lane
Princeda
le Road
Queensdale Road
St James’s Gardens
Wilsham Street
Sirda
r Roa
d
Wa
lma
r Roa
d
Elgi
n C
resc
ent
Blen
heim
Cresc
ent
Co
rnw
all C
resc
ent
Dawson Place
Che
psto
w Pla
ce
Ga
rwa
y Roa
d
Moscow Road
Pembridge C res
Westbourne Grove
Talbot Road
Westbourne Park Villas
Porc
hester R d
Tavistock Road
Lancaster Road
Colville Terrace
Lonsdale Road
Lanc
aste
r Road
St An
n’s Roa
d
Cambridge Gardens
Bassett Road
St Charles Square
Chesterton Road
Bolingbro
ke Road
Sinclair RoadM
ilson RoadMa
sbro
Ro
ad
Gird
lers
Road
Blyt
he R
d
Russell Road
Avonmore Road
Pelham Street
Lodge Road
Penfold Street
Broadley S
treet
Harewood A
venue
Outer Circle
Outer Circle
Chester RoadInne
r Circle
St John’s Wood High Street
Crawford StreetYork Street
BROMPTON RD
EDGW
ARE ROAD
MAID
A VALE
HOLLAND RO
AD
MARYLEBONE ROAD
CROMWELL RD
MA
IDA
VALE A
5
HARROW ROAD A404
HARROW ROAD A404
ELGIN AVENUE
GR
OV
E END
ROAD
LISSON G
ROV
E
PARK ROAD
WIGMORE STREET
MA
RYLEBON
E HIG
H STR
EET
BAKER STREET
GLO
UC
ESTER PLAC
E
OXFORD STREET
PARK LA
NE
PRAED ST
REET
SUSS
EX G
ARDENS
BAYSWATER ROAD
BAYSWATER ROAD
BISHOP’S BRIDGE ROAD
WESTBO
URNE TERRACE
PEM
BRO
KE V
ILLAS
WESTBOURNE GROVE
CH
EPSTOW
ROA
D
WESTBOURNE PARK ROAD
LAD
BROKE G
ROV
E
KENSINGTON PARK GROVE
CLA
REND
ON
ROA
D
HOLLAND PARK AVENUE
LAD
BROKE G
ROV
E
BARLBY ROAD
WESTWAY A40
H AMMERSMITH ROAD
WARW
ICK RO
AD
KENSINGTON HIGH STREET
KEN
SING
TON
C
HURCH STREET
KENSINGTON ROAD
KENSINGTON GOREKNIGHTSBRIDGE
GL O
UC
ESTER R
OA
D
WEST CROMWELL ROAD
WA
RWIC
K GA
RDENS
PONT STREET
SLOA
NE STR
EET
GRO
SVENOR PLAC
E
EATO
N GATE
BUC
KIN
GH
AM
PA
LAC
E RO
AD
RANDOLPH AVENUE
LANARK ROA
D
SUTH
ERLAND AVENUE
WA
RR
ING
TON
CRE
S
WARWICK AVENUE
CASTELLAIN RD
BOURNE TERRACE
WARWICK AVE
BLOM
FIELD
ROAD
MAID
A AVENUE
WALT
ERTO
N RO
AD C
HIPPEN
HA
M R
OA
D
KILB
URN
PA
RK R
OA
DMA
LVERN R
OA
D
SALTRAM CRESCENT
RAN
DO
LPH AVENUE
LAN
ARK RO
AD
HAM
ILTON
TERRAC
E
CIR
CUS
RO
ADO
RCHA
RDSO
N STR
EET
FRA
MPT
ON
STR
EET
ST MARY’S TERRAC
E
LEINSTER G
AR
DEN
S
GRANTULLY
ROAD
GRE
AT
WES
TERN
RD
POR
TNA
LL RO
AD
BRAVIN
GTO
N R
OA
D
MARBAN RD
FIFT
H A
VEN
UE
SIX
TH A
VEN
UE
THIR
D A
VEN
UE
KNIGHTSBRIDGE
Que
en
swa
y
Grand Union Canal – Paddington A rm
LittleVenice
BoatingLake
The Serpentine
RoundPond
HollandPark
Hyde Park
Regent’s Park
Lord’s CricketGround
PaddingtonRecreation
Ground
Kensington Gardens
Buckingham PalaceGardens
V & A
ScienceMuseum
KensingtonPalace
Natural HistoryMuseum
St Mary’s Hospital
SerpentineGallery
Wallace Collection
Harrods
HarveyNichols
Selfridges
Portobello Market
Madame Tussauds
Imperial College
Royal Albert
Hall
93-99 QUEENSWAY ✦ 1-9 DUKE’S COURT 93-99 QUEENSWAY ✦ 1-9 DUKE’S COURTLONDON W2 LONDON W2
CONNECTIVITYQueensway’s transport communications are excellent, with Bayswater London Underground station (District & Circle lines) being situated immediately adjacent to the property.
Additional nearby stations include Queensway (Central line), Notting Hill Gate (Central, District & Circle lines) and Paddington (Bakerloo, District & Circle, Hammersmith & City lines).
Paddington provides access to the UK’s wider national rail services and express rail services to Heathrow. Communications will be further improved when the Elizabeth line (Crossrail) opens at the station.
Approximate walking times.
BAYSWATER District & Circle Lines 1 MIN
QUEENSWAY Central Line 2 MINS
NOTTING HILL GATE Central, District & Circle Lines 9 MINS
PADDINGTON Bakerloo, Hammersmith & City, Circle & District LinesNational RailElizabeth Line (Crossrail) 14 MINS
CGI of Paddington Station, Elizabeth line.
Romford
Brentwood
HaroldWood
GideaPark
CustomHouse
ChadwellHeath
Goodmayes
SevenKings
ManorPark
IlfordForestGateStratford
WhitechapelFarringdonIverSloughTaplowBondStreet
ActonMain Line
WestEaling
TottenhamCourt Road
CanaryWharf
LiverpoolStreet
Langley WestDrayton
HeathrowAirport
EalingBroadwayHanwell
Southall
Hayes &Harlington
AbbeyWood
Maryland
Woolwich
BurnhamMaidenhead
PAD
DIN
GTO
N
93-99 QUEENSWAY ✦ 1-9 DUKE’S COURT 93-99 QUEENSWAY ✦ 1-9 DUKE’S COURTLONDON W2 LONDON W2
Surface line
Tunnel
Portal (tunnel entrance and exit)
LOCAL DEVELOPMENTS
Whiteleys Shopping Centre – Meyer BergmanWhiteleys is undergoing a £1 billion regeneration to transform Queensway into the ‘Covent Garden of the West’. The mixed-use scheme will enhance the area with over 150 new homes, a cinema, boutique hotel, and retail and leisure offerings.
Meyer Bergman’s additional scheme opposite (114-150 Queensway) seeks to provide further retail and restaurant offerings along with residential.
103-131 Queensway – GMS EstatesPlanning pending for £30 million masterplan to restore the 1.4 acre site and the wider Queensway area to its ‘former glory’. The mixed-use scheme includes retailing, residential and public realm works.
Streetscape Together, the substantial investment from Queensway’s key stakeholders and Westminster City Council will enhance the area’s public realm to deliver a semi-pedestrianised environment to Queensway.
The Queensway Estate – Bourne CapitalThe multi-million pound investment programme includes 65 luxury apartments, over 45,000 sq ft of offices and major public realm improvements. Queensway Walk will provide over 135,000 sq ft of retail, restaurant and leisure space.
Source: Design and Access Statement for 114-150 Queensway (Queensway Parade)
Whiteleys Shopping Centre
114-150 Queensway
The Queensway Estate
Queensway
Bayswater
Queensway
103-131 Queensway
93-99 QUEENSWAY ✦ 1-9 DUKE’S COURTLONDON W2
93-99 QUEENSWAY ✦ 1-9 DUKE’S COURTLONDON W2
ACCOMMODATIONThe property provides the following areas as measured by Lane & Frankham.
Unit Floor Use Sq Ft Sq M ITZA Sq Ft
93-97 Queensway
First Offices 1,359 126.3 -
Ground Banking Hall 2,529 234.9 1,768
Basement Storage 1,708 158.7 -
Sub-Total 5,596 519.9 -
99 Queensway
Ground Pub / Restaurant 1,045 97.1 -
Basement Storage 1,353 125.7 -
Sub-Total 2,398 222.8 -
Flat 2, Duke’s CourtFirst Residential 1,044 97.0 -
Sub-Total 1,044 97.0 -
TOTAL 9,038 839.7
RETAILThe 5,596 sq ft retail unit (93-97 Queensway) is arranged as a ground floor banking hall, with first floor offices and basement storage.
PUBThe 2,398 sq ft public house (99 Queensway) is arranged as a ground floor bar / restaurant, with basement storage.
RESIDENTIALThe property also includes nine flats, known as 1-9 Duke’s Court, accessed separately from Moscow Road, which are arranged over first to third floors. Flat 2, totalling 1,044 sq ft, is let on a co-terminus lease with the pub. The remaining flats have been sold off on individual long leasehold interests.
To the property’s rear is a car park, accessed from Moscow Road, with space for approximately six cars.
The property occupies a prominent corner site and comprises a five-storey retail, leisure and residential building.
93-99 QUEENSWAY ✦ 1-9 DUKE’S COURT 93-99 QUEENSWAY ✦ 1-9 DUKE’S COURTLONDON W2 LONDON W2
TENANCY SCHEDULE
Unit Tenant Use Floor(s) Area SQ FT (ITZA)
Lease Start Lease Expiry Next Review Rent £PA Rent £PSF / £ZA
Comment
93-97 Queensway Barclays Bank UK Plc Retail First, Ground & Basement 5,596 (1,944)
24 Jun 1965 23 Jun 2028 24 Jun 2021 £357,500 £183.90 Lease Inside the 1954 Act. 14 year rent review pattern.
99 Queensway Spirit Pub Company (Managed) Limited
Pub Ground & Basement 2,398 24 Jun 1965 23 Jun 2064 24 Jun 2028 £167,500 £69.85 Lease Inside the 1954 Act. Surety from Spirit Group Parent Limited. 21 year rent review pattern.
Sub-Total 7,994 £525,000
1 Individual Residential First - 25 Dec 1984 25 Dec 2173 - Peppercorn - -
2 Spirit Pub Company (Managed) Limited
Residential First 1,044 24 Jun 1965 23 Jun 2064 24 Jun 2028 £26,000 - -
3 Individual Residential Second - 25 Dec 1984 25 Dec 2173 - Peppercorn - -
4 Individual Residential Second - 25 Dec 1984 24 Dec 2083 24 Jun 2050 £150 - Fixed rental uplift to £225 PA.
5 Carrington Estates Inc Residential Second - 25 Dec 1984 24 Dec 2083 24 Jun 2050 £100 - Fixed rental uplift to £150 PA.
6 Individual Residential Second - 25 Dec 1984 24 Dec 2083 24 Jun 2050 £100 - Fixed rental uplift to £150 PA.
7 Individual Residential Third - 25 Dec 2013 24 Dec 2138 25 Dec 2038 £550 - Fixed rental uplift to £900 PA.
8 Individual Residential Third - 25 Dec 1984 24 Dec 2083 24 Jun 2050 £150 - Fixed rental uplift to £225 PA.
9 Individual Residential Third - 25 Dec 1984 24 Dec 2083 24 Jun 2050 £200 - Fixed rental uplift to £300 PA.
Fire Escape Barclays Bank UK Plc Fire Escape - - 29 Sep 1989 23 Jun 2028 24 Jun 2023 £1,500 - -
Car Parking Individual Car Parking - - - - - £1,560 - Licence dated 07 Jul 2004.
Sub-Total 1,044 £30,310
TOTAL 9,038 £555,310
COVENANTS
Barclays Bank is one of the UK’s largest, most recognisable, brand names with over 1,600 branches. Barclays also provides global financial services in over 50 countries worldwide with in excess of 130,000 employees. The company has a primary listing on the London Stock Exchange and is a member of the FTSE 100.
Barclays is graded low risk by ICC and Dun & Bradstreet reports a 5A 1 rating.
Spirit Pub Company was acquired by Greene King PLC in 2015 for £774 million, to form the UK’s largest managed pub company.
Combined, the groups operate over 3,000 public house, restaurants and hotels. Greene King operates brands including Hungry Horse, Loch Fyne Seafood & Grill and Old English Inns.
Green King is listed on the London Stock Exchange and is a FTSE 250 company. Dun & Bradstreet reports a 5A1 rating for Spirit Group Parent Limited.
93-99 QUEENSWAY ✦ 1-9 DUKE’S COURTLONDON W2
93-99 QUEENSWAY ✦ 1-9 DUKE’S COURTLONDON W2
PLANNINGThe property is situated in the London Borough of Westminster and sits within both the Queensway and Bayswater Conservation Areas. The building is not listed.
Planning Permission (15/07000/FULL) was granted in May 2016 for a single storey roof extension, providing three flats (1 x 1 bed, 1 x 2 bed & 1 x3 bed) totalling 2,454 sq ft, all with their own terraces. The BuckleyGrayYeoman designed scheme also includes a new entrance to the residential and façade alterations.
The consent has now expired, however the exercise has identified the potential to add extra massing to the building and has established a precedent for future development.
TENUREFreehold.
DEVELOPMENT OPPORTUNITY
Proposed Townscape View (CGI)
Site outline for indicative purposes only
Proposed Massing Model Proposed Fourth Floor Plan
cylin
der
APARTMENT2 BED APARTMENT
3 BED
APARTMENT1 BED
93-99 QUEENSWAY ✦ 1-9 DUKE’S COURT 93-99 QUEENSWAY ✦ 1-9 DUKE’S COURTLONDON W2 LONDON W2
RETAIL OCCUPATIONAL MARKETLondon’s retail market is one of the world’s most robust, benefitting from wealth, occupier demand (both domestic and international), and high levels of consumer spending power from both overseas tourists (20 million in 2018) and domestic footfall. London’s ‘local’ retail markets are predominantly supported by domestic consumers, particularly in affluent residential areas with high disposable incomes.
Queensway, and neighbouring Notting Hill, is an established London retail sub-market benefitting from solid tenant demand and low vacancy rates due to the locations ability to appeal to retailers requiring sizeable flagship units and those seeking a boutique outfit.
The vibrancy and appeal of Queensway has further been enhanced by a number of high end gyms, including Barry’s Bootcamp and BodyWorksWest, providing first-class health and fitness offerings to local residents, workers and fitness fanatics, which has driven footfall in the area.
Queensway offers a significant discount to other major London retail destinations both in terms of rents and rateable values. Retail business rates have remained static, making the location more affordable and promoting future rental growth in Queensway.
Date Address Transaction Tenant Rent £ZA
Jan 19 86 Queensway, W2 Assignment Forexchange £192
Mar 18 233 Westbourne Grove, W2 OML Sézane £208
Sep 17 107 Queensway, W2 OML Screwfix £200
Aug 17 11 Queensway, W2 OML Urban Barista £250
May 17 21 Queensway, W2 OML Pret a Manger £250
Mar 17 127 Queensway, W2 RR Pret a Manger £205
INVESTMENT MARKETLondon’s real estate investment market remains robust in a market environment of low interest rates, weakened sterling and a healthy debt market. The market continues to be characterised by a shortage of available investment product with many investors reluctant to sell in a market with attractive fundamentals.
Total West End investment volume during 2018 reached approximately £7.6 billion, which is in line with 2017’s total and illustrates sustained investor appetite for London’s West End market.
Overseas investors continue to dominate accounting for 65% of transactions in the London’s West End in 2018. The geographic origin of this capital remains diverse, whilst there has been a notable increase from Asian and Middle Eastern investors, European (including UK buyers) remain very active.
Strong demand from investors (both domestic and overseas) combined with a limited number of sellers, means long dated income, to secure institutional grade covenants continue to be a particularly attractive investment opportunity in the market.
Date Address Tenant(s) Price NIY
Jun 19 118-120 Wigmore Street, W1 Wigmore Street Kitchens Halcyon Interiors
£8,300,000 4.24%
Jan 19 Shakespeare’s Head, 29 Great Marlborough Street, Soho, W1
Greene King (Spirit Pub Company Guarantee)
£17,550,000 3.63%
Oct 18 42-46 Westbourne Grove, Notting Hill, W2
Planet Organic Alounak Faber
£7,000,000 3.49%
Apr 18 145 Kensington Church Street, Kensington, W8
Savills UK £7,380,000 4.00%
Mar 18 Prince of Wales, 150-151 Drury Lane, Covent Garden, WC2
Greene King £10,450,000 2.52%
Feb 18 The Builders Arms, 13 Britten Street, Chelsea, SW3
Ei Group £4,370,000 3.22%
Sep 17 137-143 Notting Hill Gate, Notting Hill, W11
Pizza Express Leyland
£5,000,000 3.85%
Aug 17 The Old Swan, 206 Kensington Church Street, Notting Hill, W8
Greene King £4,500,000 1.82%
Mar 17 Grove House, 90 Westbourne Grove, Notting Hill, W2
Sainsbury’s King Media Deliberate PR
£12,000,000 4.21%
93-99 QUEENSWAY ✦ 1-9 DUKE’S COURTLONDON W2
93-99 QUEENSWAY ✦ 1-9 DUKE’S COURTLONDON W2
93-99 QUEENSWAY ✦ 1-9 DUKE’S COURTLONDON W2
FURTHER INFORMATION
VATThe property is not elected for VAT and therefore VAT
will not be chargeable on the purchase price.
EPCEPCs are available in the data room.
DATA ROOMPlease contact Allsop for access to the data room.
PROPOSAL Offers are invited in excess of £10,950,000
(Ten Million Nine Hundred and Fifty Thousand Pounds), subject to contract. Pricing at this
level reflects a Net Initial Yield of 4.75% assuming full purchaser’s costs of 6.70%.
CONTACTS
allsop.co.uk
Nick Pemberton020 7543 6775
Chloe Newton020 7543 6886
Mark Ibbotson020 7543 6879
Misrepresentation Act: 1. Allsop LLP on its own behalf and on behalf of the vendor/lessor of this property whose agent Allsop LLP is, gives notice that: (a) these particulars do not constitute in whole or in part an offer or contract for sale or lease; (b) none of the statements contained in these particulars as to the property are to be relied on as statements or representations of fact; and (c) the vendor/lessor does not make or give, and neither Allsop LLP nor any of its members or any person in its employment has any authority to make or give, any representation or warranty whatsoever in relation to the property. The only representations, warranties, undertakings and contractual obligations to be given or undertaken by the vendor/lessor are those contained and expressly referred to in the written contract for sale or agreement for lease between the vendor/lessor and a purchaser or tenant. 2. Prospective purchasers or tenants are strongly advised to: (a) satisfy themselves as to the correctness of each statement contained in these particulars; (b) inspect the property and the neighbouring area; (c) ensure that any items expressed to be included are available and in working order; (d) arrange a full structural (and where appropriate environmental) survey of the property; and (e) carry out all necessary searches and enquiries. Allsop is the trading name of Allsop LLP. The market statistics, rental and investments comparables have been supplied by third parties and their accuracy cannot be guaranteed. Design CommandD www.commandHQ.co.uk 07.19