Poundland, OrpingtonTHE WALNUTS SHOPPING CENTRE

KENT BR6 0TW

INVESTMENT CONSIDERATIONS• Orpington is an affluent south east town

with a ‘Greater London’ address

• 7.5 years remaining to the 5A1 covenant of Sainsbury’s Supermarkets Ltd guaranteed by J Sainsbury’s PLC

• Part sub-let to Poundland Limited which provides a future asset management angle

• Long leasehold

• Passing rent of £351,130 per annum which equates to £11.84 psf

• Substantial town centre retail unit totalling 29,666 sq ft

• A new Leisure scheme has opened opposite the unit helping to drive footfall in the vicinity

• Situated adjacent to the town’s main shopping centre

• Affluent catchment population with over 61% of the population categorised in the AB and C1 group.

• Offers are sought in excess of £3,660,000 (Three Million Six Hundred and Sixty Thousand Pounds) subject to contract and exclusive of VAT. A purchase at this level would reflect an attractive net initial yield of 9.00% after allowing for purchaser’s costs of 6.51%.

LONDONHeathrow

Oxford

LondonCity

Gatwick

StanstedLuton

J27J25J23

J21

J20

J19

J16

J15

J12

J10

J7J8

J9

J6

J5

J3

J2

J29

J28

A5

A505

A418

A602A131A130

A138

A130

A127

A217

A331

A322

A33

A339

A316

A309

A232

A264

A264

A229

A120

A404

A355

A404

A418

A413

A4142

A4010

A414

A414

A414

A1

A2

A3

A3

A41

A41

A34

A40

A31

A24

A22

A21

A20

A10

A10

A12

A12

A13

A26

A21

A23

A23

A420

A303

A34

A34

A44

A40

M1

M4

M4

M2

M3

M3

M10

M40

A404(M)

A329(M)

M25

M25

M25

M25

M25

M23

M26

M20

M20

M11

M11

A1(M)

M1

Harlow

Bishop’sStortford

EppingPotters Bar

Knebworth

Hertford

Luton

Aylesbury

Abingdon

Wantage

Witney

Dorchester

Bradfield

Wallingford

DunstableStevenage

Hatfield

Dartford

Bromley

Gravesend

Gillingham

Shoreham

Rochester

Sittingbourne

Croydon

Biggin Hill

Romford

Sevenoaks

Tonbridge

RoyalTunbridge

Wells

Maidstone

Snodland

Sheerness

StaplehurstPaddock

Wood

East GrinsteadCrawley Three Bridges

Horley

Horsham

Witley

Godalming

Andover

Stockbridge

Cranleigh

NorthHorsham

HaywardsHeath

Burgess Hill

Redhill

Oxted

DorkingGuildford Reigate

Staines

Slough

HemelHempstead St Albans

HighWycombe

Thame

Watford

WembleyUxbridge

RuislipHarrow Brent

Cross

Woking

SouthOxney

Rickmansworth

Harefield

BorehamwoodEnfield

Windsor

Famborough

Aldershot

Alton

Basingstoke

Winchester

Newbury

Famham

Fleet

WokinghamBracknall

Egham

Ascot

SandhurstBagshot

Reading

Oxford

Henley-on-Thames Maidenhead

EpsomSutton

Clapham

Swanley

Fulham

Ashford

RichmondHounslow

KingstonUpon Thames

BillericayWickford

Stanford-le-Hope

Southend-on-SeaBenfleetCanveyIsland

Brentwood

Chelmsford

ChippingOngar

Basildon

Welwyn GardenCity

Walton-on-Thames

DIDCOT

ORPINGTONORPINGTON

•

LocationOrpington is an affluent market town in the London Borough of Bromley approximately 15 miles south east of Central London, 5 miles (8km) south east of Bromley and 10 miles (16km) east of Croydon. Orpington is located in the heart of the south east commuter belt with a ‘Greater London tag’ and is one of the principal suburbs of the London Borough of Bromley.

The town is served by excellent communications, with regular rail services from Orpington to central London with a fastest journey time of 18 minutes to London Bridge. The town benefits from a good road network being conveniently situated 4 miles (6km) north west of Junction 4 of the M25. The A21 is situated approximately 2 miles (3km) to the west which provides access to Bromley 4.5 miles (7km) to the north and Central London 15 miles (24km) to the north west.

Orpington is served by 17 different bus routes providing daily services around the town and Greater London.

Gatwick airport is a 27 minute drive to the south, located approximately 34 miles (55 km) from Orpington.

DemographicsOrpington has a primary catchment of 105,000 people with an estimated shopping population of 30,000 which is projected to see significant growth over the next five years. Orpington has an affluent catchment with over 61% of the population categorised in the AB and C1 group, it benefits from a low local unemployment rate of 6.9%. The town has a significant population of students with 8,000 full and part-time students from the Orpington Campus of Bromley College.

Retailing in OrpingtonOrpington town centre has an excellent provision of multiple retailers, which was significantly enhanced in 2015 with the redevelopment and extension of the Walnuts Shopping centre to provide 65,000 sq ft of new accommodation with a B&M, Pure Gym and a seven screen Odeon Cinema. Originally the High Street was considered to be the prime pitch, this has now changed to The Walnuts Shopping Centre. There is an estimated 0.59 million sqft of retail floor space in Orpington (PROMIS). The Walnut Shopping centre attracts a high footfall aided by the long established market, that runs every Tuesday, Friday and Saturday which is situated in the heart of the shopping centre. Zone A rents in the Walnuts Centre are at £50 psf.

SituationThe property is located in a prominent position forming part of the Walnuts Shopping centre, Orpington’s principal centre, providing the prime retailing destination. The Walnuts Shopping Centre sits adjacent to the High Street to the West and the subject property is situated in the south east of the shopping centre in an outdoor Courtyard.

There are numerous national retailers in immediate proximity including New Look, Lloyds Bank, The Edinburgh Woollen Mill, Starbucks, Argos, Odeon, Wilko amongst others.

DescriptionThe property is of brick construction and occupies an end of terrace retail unit totalling 2,756.1 sq m (29,666 sq ft). The property is arranged to provide a ground floor retail unit of 864.5 sq m (9,305 sq ft) with storage to the rear which benefits from two roller shutter doors providing access to a loading area to the rear. Part of the ground floor and first floor are not occupied by Poundland.

Description Area sq m Area sq ft

GF retail area 864.5 9,305

GF storage/ancillary 1,523.2 16,396

FF storage/ancillary 368.4 3,965

Total 2,756.1 29,666

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For more information on our products and services:www.experian.co.uk/goad | goad.sales@uk.experian.com | 0845 601 6011

Orpington

Experian Goad Plan Created: 02/08/2016Created By: Allsop

Copyright and confidentiality Experian, 2016. © Crowncopyright and database rights 2016. OS 100019885

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TenureThe property is held long leasehold from the London Borough of Bromley for a term of 99 years from 29th September 1972 (approximately 55 years unexpired) at a peppercorn rent.

TenancyThe property is let to Sainsbury’s Supermarkets Ltd for a term of 35 years from 25th March 1989 thus providing approximately 7.5 years remaining at a passing rent of £351,130 per annum which equates to £11.84psf. The rent is reviewed on a 5 yearly basis with the next review in March 2019. The lease is guaranteed by J Sainsbury’s PLC.

Sainsbury’s Supermarkets Ltd have sublet the property to Poundland Limited for 10 years from 29th October 2010 to 28th October 2020. Further details available upon request.

Covenant Information

Sainsbury’s Supermarkets Ltd

16/03/2013 15/03/2014 14/03/2015

Turnover (000’s) £23,290,000 £23,919,000 £23,443,000

Pre-Tax Profit (000’s) £616,000 £810,000 (£206,000)

Total Net Worth (000’s) £4,507,000 £4,706,000 £4,224,000

J Sainsbury’s PLC (Guarantor)

15/03/2014 14/03/2015 12/03/2016

Turnover (000’s) £23,949,000 £23,775,000 £23,506,000

Pre-Tax Profit (000’s) £898,000 (£72,000) £548,000

Total Net Worth (000’s) £5,717,000 £5,214,000 £6,036,000

EPCThe property has an EPC rating of E(110).

VATThe property has been elected for VAT and therefore it is anticipated that the sale will be treated as a Transfer of a Going Concern (TOGC).

ProposalOffers are sought in excess of £3,660,000 (Three Million Six Hundred and Sixty Thousand Pounds) subject to contract and exclusive of VAT. A purchase at this level would reflect an attractive net initial yield of 9.00% after allowing for purchaser’s costs of 6.51%.

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. Design: CommandD www.commandHQ.co.uk 09.16

For further information or to make arrangements for viewing please contact:

www.allsop.co.uk

Richard Lea020 7543 6832richard.lea@allsop.co.uk

Dale Johnstone020 7543 6796dale.johnstone@allsop.co.uk