204 E arls Court Road, L ondon, SW5 9QF
P R I M E F R E E H O L D R E S TA U R A N T I N S O U T H W E S T L O N D O N
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Burger Kitche
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•Let on an o
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t initial yield o
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Communications
Earls Court benefits from excellent communications by road, rail and air.
The A3220 Earls Court Road runs through the heart of Earls Court
connecting the A40, approximately 4.3 km (2.7 miles) to the north west,
with the A3 approximately 6.0 km (3.7 miles) to the south east. The A4
forms the northern boundary of Earls Court and provides direct access
to Central London to the east and the M25 (junction 15) to the west
connecting with the national motorway network.
There are numerous underground stations in close proximity including
Earls Court (District and Piccadilly lines providing access to the West End,
Mid Town and the City), Olympia and West Brompton (District and mainline Silverlink),
Gloucester Road (District, Circle and Piccadilly) and West Kensington (District). The
Piccadilly line provides direct access to London Heathrow Airport and the mainline
Silverlink station provides a direct service to London Gatwick Airport.
London Heathrow Airport is approximately 25.7 km (16 miles) to the west and Gatwick
Airport approx 46.5 km (28.9 miles) to the south.
Description
The property comprises an attractive building arranged over basement,
ground and three upper floors dating back to the nineteenth century.
The building is constructed of brick elevations inset with timber
sash fenestration (with stone detailing) to the upper floors
under a pitched tiled roof hidden by the parapet wall.
Nandos occupy ground and basement floors. The ground
floor is used as the restaurant dining area and incorporates
a kitchen. The basement comprises male and female toilets,
staff changing room, storage and ancillary kitchen.
The first floor is configured as two office suites, which offer
basic accommodation. The second and third floors comprise
a four bedroom maisonette. Access to the upper floors are from
a single side entrance on Trebovir Road.
Location
A cosmopolitan and fashionable area of South West London, Earls Court is situated in
the Royal Borough of Kensington and Chelsea (RBK&C). Earls Court is an established
commercial and residential location approx 6.8 km (4.2 miles) west of Central London.
Earls Court is situated on the border of South Kensington and other nearby centres include
Chelsea, Fulham, Hammersmith and Holland Park.
The area is renowned for the Earls Court Exhibition Centre one of the country’s largest indoor
arenas and a popular concert venue. In addition, the Olympia Halls and conference centre,
within 1.6 km (1.0 mile) to the north west, hosts numerous public and trade exhibitions.
Earls Court Road is a bustling environment providing extensive and varied retail, restaurant
and leisure facilities.
ET
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Demographics
RBK&C is one of London’s most affluent Boroughs with employment
within the travel to work area of the Borough dominated by Banking,
Finance and Business Services (45.40% compared with 17.50% for
Great Britain).
Mosaic Consumer Classifications record 57.85% of RBK&C Urban
Area as being Symbols of Success in comparison to the Great Britain
figure of 9.70%
Approximately 46% of the Urban Area population is aged between
20-44 years, 27% greater than the figure for Great Britain.
Set out below are the salient Class Groupings for RBK&C and
Great Britain.
Class Groupings 2001
Urban Area (%) GB (%)
AB. H
igher and intermediate managerial /
administrative / professional
38.6
21.7
C1 S
upervisory clerical / junior managerial /
administrative / professional
33.0
29.4
C2 Skilled manual workers
5.2
15.1
D
Semi skilled and unskilled manual workers
8.7
17.2
E
O
n State benefit unemployed lowest
grade workers
14.5
16.6
n
o
i
t
a
d
o
m
m
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c
Ac
Description
and are provided from
our client’s management
d on the
ntly locate
e
in
ad.
m
ro
p
rty is
rebovir Ro
The prope s Court Road and T
arl
corner of E
rground
ourt unde
C
s
rl
a
E
ce to
50 metres
The entran
roximately
p
p
a
d
te
a
itu
station is s ast.
e
th
u
o
s
e
to th
a vibrant
ned within
io
it
us
s
o
p
is
rty
by numero
The prope
rrounded
u
s
n
o
ti
a
d
c
n
lo
ts a
mixed use
, restauran
lic houses
national
b
u
d
p
n
,
a
ls
ts
te
ho
stauran
re
y
Burger
rb
a
e
iz
ma, Z zi,
a
m
retailing. N
a
g
a
W
clude
Burger
multiples in lds, KFC, Gourmet
s,
ona
, Starbuck
King, McD
, Sainsbury
e
n
o
d
Z
n
a
la
t
a
is
as
the Chem
Kitchen, M
rrett, Boots
a
B
&
d
n
Holla
pencer.
Marks & S
sq ft
sq m
855
1,096
609
530
79.41
Ancillary
Basement
101.79
Restaurant
Ground Floor
56.05
Ground Floor ITZ A
46.82
Of fices
First Floor
s4 bedroom
Second & Third Floor
maisonette
Areas are net internal
Situation
records
N
KE
2
3
1
CO
UR
T
2
ST
EA
RL
S
18
1A
BA
O KE
BA VEN RS
P O KE R
&
BU S T
DE R E O F CA F
CH AU FIC E
E
AN
&
GE
TH
E
C
PU
BL OU
RT
IC
HO FIE
BA
LD
US
RC
E
L
BA
AY
NK
S
BA
NK
01
25
4
-2
60
20
7
20
9
26
2
M
S
ST
O
Tenancies
The property is let on an over-riding FRI
lease to Nando’s Chickenland Limited for
a term of 25 years from 29 September
2004, providing an unexpired term of
approximately 19.4 years. The rent passing is
£141,426 per annum and the lease benefits
from 5 yearly upwards only rent reviews, with
the next on 29 September 2014.
&
SP
EN
CE
R
CO
SI
NV
M
PL
EN
Y
IE
FO
NC
O
E
D
ST
O
RE
68
M
AR
KS
AD
RO
ER
N
Freehold
-2
PE
NY
W
Tenure
Covenant
-2
11
26
6
26
4A
J
20
5
0
The first Nando’s restaurant opened in South Africa in 1987
and the company has grown to now operate from over 25
countries globally.
Nando’s in the UK opened in Ealing in 1992. The chain has
since successfully expanded nationwide taking market
share from fast-food restaurants. The company now trades
from 233 restaurants and employs over 7,000 people. There
are plans to expand further this year with the opening of at
least 15 new restaurants.
Nando’s Chickenland Limited is rated by Dun & Bradstreet
as 4A1 (a minimum risk of business failure). The 2009
accounts show a tangible net worth of £25.303m. The
company has recorded both an increasing turnover and
net worth in each of the last three years. A summary of their
financial accounts is shown below:
Nando’s have sub-let the first floor offices
to Kensington Car Service and PhilRem Ltd.
The second and third floor maisonette is
sub-let on an assured shorthold tenancy.
Turnover
We are of the opinion that the passing
rent on the restaurant element equates to
approximately £150 ITZA. A devaluation is
available on request.
Net Worth
Pre Tax Profit
S
20
3
BO
O
TS
D
YA
R
NO
R
MA
-2
25
0
CO
NV
OL
D
5
BA
RK
48
19
DR
LI HE BAR
CE R
CH A G
IN O N
NC S
ES
PA
T
E
E
BL HE
RE L A
PU AC
S T CE
AU
FU BL KB
RA
LL IC IR
NT
ER H D
S OU
SE
-2
IT
AL
IA
N
24
6
O
LI DD
CE B
NC INS
E
W
TR
UT
HO E.C
T R OM
ES
IN
LA
ST
M
LRT
URT
EARLS CO
24
2
-1
93
W
ES
T
18
9
CH
TH
E
EM
IS
T
23
8 2
40
BR AV C
U EL ON
CH NT AGEDNOR
RE
EM ON T
ST
S
AU DIN IST
RA O
NT S
HE
AL OM
TH S
BU
CE AI
RG
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RE NG
ST
N
BA O
R
23
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SA BW
ND A
TH
W Y
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18
7
23
0
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T
22
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18
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18
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EN
T
21
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DE PO
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GE
21
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FA SIO
AC SH N
L/W CE ION
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17
9
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ER
SU
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LD
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CO
LL
CT S
BU
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NB EY
BU EQ
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BA CO
T A KEH RNI
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(2 OD MC
NE R
RE RE DO
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TA ST N
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& INT S TRAV AG
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TA AU AN
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& TE
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PY LT
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PU E P LAR L
B L RI R
I C N C IK
HO E A T
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CK
5
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RE JOW
ST A
AU N
RA
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W
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1
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NC E
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ET D
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BA F O
& TH
N D AL
LA H E
SS
IL
A
SP
GR RKE
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OC T
IAL
RE MA
ER
IST
ST I F O
D
AU
OD
& S RY
R
C
AN
HIR L
EA
T
T
VA
SE NE
R V RS
CA
IC
E
NT
TI
ND
OU
AH
TL
AN
ET
CO G P
NV INO
ST Y
O
FA
AN
DI
IN
8
18
S
EW
M
A
M
49
-1
R
ST
RE
RY
MA
N
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/W
S
CK P
BU HO
AR E S
AS
ST FE
DY DIY
F
RT
CO
LL
BE
HI E
O
C
R
AM FFI
LI
IL G O
W N
TI
T
BE
G
DW
R
EA
P
S
L
6
18
&
A
AM NT
AM RA
AG AU Q'S
W ST S B
S
RE MI CLU
SI
W
TA
NE
ZO
OV
IR
5
14
4
18
RA
LA
SA
A
PL
T
W HE
TE AR C
LE EH AR
C
PH O PH
O
R
O US ON
AL
N E E
B
ES
T/ ENJ
A
& YS
JU
C
TR VA
A
T
FE
AV L
TH H E
E
3
14
82
-1
S
NG
LI
EL
W
D
S
LD
IN B O
G RO NE
O K S
UN FFI ES
DE CE
R
1
14
I
CH
0
18
L
1A
-5
O X AR
CH
VA
CA
NT
9
A
V US
A
BE
N
0A
18 Y`S
ER
EV
PL
E
AC
C
HT G
OP
IG A
FL AV M
SH
TR FA ITY
22/02/2009 24/02/2008
£ 000s
£ 000s
25/02/2007
£ 000s
230,857
186,642
142,505
7,818
11,849
9,779
25,303
20,288
12,549
For additional information, please see www.nandos.co.uk
10
Investment Considerations
•A further 19.4 years to Nando’s Chickenland Limited who have
expanded successfully throughout the UK and recorded both
an increasing net worth and turnover in each of the last three years
•Excellent demographics record a young and affluent local population
•Situated on prime stretch of Earls Court Road with local occupiers
including Zizzi, Wagamama, McDonalds, M&S Simply Food and Sainsbury
•Potential to negotiate release of valuable upper parts
•Capital values for residential flats in similar locations in the Earls Court area are in the
region of £800 – 900 per sq ft
•Strong demand for rental property in this area of London - rental value for 4 bedroom
maisonette flats would be approximately £41,600 per annum
•Further asset management opportunities include converting first floor offices to residential
and reconfiguring the second and third floors into two residential flats
SUBJECT TO CONTRACT AND EXCLUDING VAT
Planning
t Listed
proper ty is no
vised that the
ad
n Area.
io
en
at
be
rv
ve
We ha
ourt Conse
C
ls
ar
E
in
ith
w
and is situated
VAT
e on
VAT is payabl
the purchase
price.
Proposal
550,000
excess of £2,
in
rs
e
nds)
ff
o
g
n
seeki
ousand Pou
Our client is
and Fifty Th
d
re
d
g
n
in
u
m
H
u
e
Fiv
ass
ld of 5.25%
(Two Million
of VAT.
net initial yie
a
s
d exclusive
n
ct
a
fle
re
5%
2
h
6
.7
5
whic
f
o
s
st
rchase co
standard pu
Misrepresentation Clause
David Baroukh Associates for themselves and for the
vendors or lessors of the properties whose agents they
are give notice that:1. All particulars or properties provided are given as
a general outline only for the guidance of intending
purchaser, lessee or tenant, and do not constitute, nor
constitute part of, an offer or contract.
2. Whilst all particulars of properties given including
but not limited to descriptions, dimensions, references
to condition and necessary permissions for use and
occupation and maps are believed to be correct and
are given in good faith, they are however given without
responsibility on the part of David Baroukh Associates
or the vendors or lessors as the case may be.
3. None of the statements contained in any particulars
is to be relied upon as a statement or representation
of fact.
4. Any intending purchaser or lessee or tenant should
not rely on any particulars provided by us and must
satisfy themselves by inspection or otherwise as
to the correctness of each statement made in such
particulars.
5. The vendor or lessor as the case does not make or
give and neither David Baroukh Associates nor any
person in their employment has any authority to make
or give any representation or warranty whatever in
relation to any properties.
May 2010
Viewing
tes L
ukh Associa
David Baro
Street,
6A Wimpole
8AL
London, W1G
LP
23 1010
Tel: 020 73
23 6 6 0 0
3
7
Fax: 020
uk h
David Baro
4
24
2
1
3
6
020 7
p.co.uk
ro
p
a
b
d
@
d
davi
impact 01622 833880 / www.impact-im.co.uk (D7492/WH)