421-427 Brixton Road – 16 Atlantic Road – 2 Electric Lane – Brixton London SW9 8HE

PRIME FOODSTORE ANCHORED LONDON RETAIL INVESTMENT

• Brixton is just 2.7 miles (4.3 km) south east of Central London.
• Located adjacent to Brixton Underground Station (Zone 2) on the Victoria Line with a fastest journey time to Oxford Circus of 11 minutes and serves over 20m passengers annually.
• 100% prime retail parade, let to Sainsbury’s, HSBC Bank, Vodafone, WH Smith, Argos and Five Guys.
• 93% of the income secured to covenants with D&B Ratings of 5A1 or 5A2.
• Food store anchor: 32% of the income secured to Sainsbury’s Supermarkets Ltd (D&B 5A1) for a further 15.6 years.
• Strong WAULT of 7.2 years to expiry and 6.9 years to break which will be improved further following asset management on Unit 6 (WH Smith).
• Total income of £1,232,000 per annum
• Majority Freehold.
• Future potential to increase massing and redevelop the Argos on the Atlantic Road frontage, subject to gaining vacant possession and the necessary planning consents.
• Excellent reversionary prospects following recent open market lettings in the immediate vicinity.

Proposal

We are instructed to seek offers in excess of £18,500,000 subject to contract and exclusive of VAT. A purchase at this level reflects a Net Initial Yield of 6.24% after purchaser’s costs of 6.74%.