KATHERINE HOUSE
85 HIGH STREET, EGHAM, TW20 9HF
PRIME LONG LET DAY NURSERY INVESTMENT OPPORTUNITY
SECURE 19.5 YEAR INCOME WITH CPI LINKED RENT REVIEWS
INVESTMENT CONSIDERATIONS
• Located in the affluent south east town of Egham
• Situated close to the vast amenity of the High Street
• Let to the strong covenant of Busy Bees
Nurseries Limited
• Long unexpired lease term of approximately
19.5 years to break and 29.5 years to expiry
• The passing rent of £120,000 reflects a low
overall rate of £19.72 psf
• 5 yearly compounded CPI linked rent reviews,
collared and capped at 0% and 3%
• Car parking for approximately 15 cars
• Potential future conversion to residential
(subject to planning)
• We are instructed to seek offers in excess
of £2,260,000 (Two Million Two Hundred
and Sixty Thousand Pounds), A purchase
at this level reflects a net initial yield of 5%
assuming the usual purchasers costs and
a low capital value of £371 psf.
KATHERINE HOUSE
PRIME LONG LET DAY NURSERY
INVESTMENT OPPORTUNITY
A505
Dunstable
A418
A44
Stevenage
Luton
Luton
Knebworth
A5
A602
A1(M)
M1
Aylesbury
A34
Harpenden
Hertford
A40
A41
OXFORD
Hemel
Hempstead
Thame
A4142
M40
A420
St Albans
M10 A414
J20
M25
M4
READING
Egham has a population of approximately 6,384 with an estimated catchment
of 80,510 within the Runnymede Borough. Royal Holloway University is located
within the town and accommodates approximately 9,000 students.
Runneymede has an affluent catchment population, according to the 2011 Census
29.15% are classified within the group AB (higher and intermediate managerial,
administrative or professional), higher than the national average of 22.96%.
M25
Staines
Bracknall
Ascot
A322
EGHAM
J12
M3
Sandhurst
Woking
BASINGSTOKE
A34
M3
Aldershot
Kingston
Upon Thames
A309
A3
A2
D
A3
GUILDFORD
A20
Bromley
A23
Croydon
A21
J8
Dorking
A22
J5
J7
J6
S
Oxted
M23
Horley
Gatwick
Cranleigh
A264
Crawley Three Bridges
A264
East Grinstead
A31
Horsham
M
Biggin Hill
Redhill
A24
S
Sho
Sh
M25
Godalming
Alton
London
City
A232
Sutton
Epsom
A217
J10
Famham
A303
Ilford
J9
Famborough
A331
A12
LONDON
M3
A339
Chigwell
A10
M4
Fulham
Hounslow
Heathrow
A316Richmond
Bagshot
London Heathrow is located approximately 5 miles to the north east of Egham.
The airport serves 185 destinations in 84 countries including daily flights to
New York, Istanbul, Dubai and frequent services to major European hubs.
DEMOGRAPHICS
Windsor
M4
J27
M11
Tottenham
Brent
M1 Cross
Wembley
J15
A329(M)
Egham railway station provides regular services to London Waterloo,
Clapham Junction and Reading with fastest journey times of 41 minutes,
30 minutes and 42 minutes respectively.
M25
A1 Barnet Enfield
Uxbridge
A40
Southall
Slough
A404(M)
The town benefits from excellent road communications being located
approximately 3 km (2 miles) from Junction 13 of the M25 which provides
access to the M3 to the South (Junction 2) and M4 to the north (Junction 4B).
Watford
J16
Henley-on-Thames
A34
Borehamwood
Harefield
A404
Egham is an affluent town located in the Runnymede borough of Surrey.
The town is situated 35 km (22 miles) south west of Central London,
35 km (22 miles) east of Reading and 16 km (10 miles) north of Woking.
J25
A355 A413
M40
LOCATION
Harlow
Epping
J23
J19
High
Wycombe
A414
Hatfield
J21
A404 Chesham
A4010
Bish
Stor
Sto
A10
Egham
SITUATION
The property is situated within a 10 minute
walk of the railway station on the northern
side of the High Street, approximately 100m
from the pedestrianised section in a densely
populated residential area. Nearby occupiers
include Waitrose, Tesco, Costa, Café Nero,
Boots Chemist, Specsavers and Holland
and Barrett.
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BUS RSER
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MA
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STA
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PU
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EN
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P
Experian Goad Plan Created: 08/03/2016
Created By: Allsop
50 metres
Copyright and confidentiality Experian, 2016. © Crown copyright and database
rights 2016. OS 100019885
DESCRIPTION
For more information on our products and services:
www.experian.co.uk/goad | [email protected] | 0845 601 6011
The property comprises a standalone building constructed
in the late 1990’s arranged over ground, first and second floor.
The building is entered through a secure glazed reception leading
into the main nursery which has been subdivided to split up the
varying age groups. The ground and first floor comprise nursery
accommodation whilst the second floor comprises a kitchen,
staff room and training room.
The property was recently refurbished and benefits from
a large outdoor playground and 15 car parking spaces.
The site area extends to approximately 0.287 acres.
ACCOMMODATION
Floor
NIA (sq m)
NIA (sq ft)
Ground
221.3
2,383
First
225.3
2,425
Second
118.6
1,277
Total
565.2
6,085
KATHERINE HOUSE
PRIME LONG LET DAY NURSERY
INVESTMENT OPPORTUNITY
5
1
75
6
11 12
78a
The Old Bakery
1 to 9
e
ath
4
10
C
St
e
rin
3
e
l ac
sP
9
15
2
8
14
78
1
Willowbrook
Court
Henley
7
13
Court
78
c
d
1 to 6
85a
86
87
88
1 to 24
91 to 93
90
89
85
16.0m
135
80
9
16.8m
76 ES 100004106. For identification purposes only.
© Crown Copyright,
140
Lych Gate
Club
136
to
138
7
7
7 to
to
133
84
T
REE
132a
ST
HIGH
Fire Station
TENANCY
DEVELOPMENT POTENTIAL
The property is let to Busy Bees Nurseries Limited on a 30
year lease from 18 August 2015 expiring on 17 August 2045
at a current rent of £120,000 per annum, subject to 5 yearly
compounded CPI linked rent reviews, collared and capped at 0%
and 3%. The lease has a tenant break option on 18 August 2035.
The property benefits from future development potential
which underpins the value in the site. New build
residential in the area is achieving pricing reflecting
up to approximately £725 psf.
ha
War Meml
The current rent reflects a low £19.72 per sq ft overall.
1
TCB
VAT
St John the
The property is elected for VAT, however we would
Baptist's
Manor
expect the transaction to be treated as a Transfer
Church
Farm
of a Going Concern (TOGC).
R
NO
MA
Dun and Bradstreet rating 5A1
RM
30m
NE
LA
Ordnance Survey © Crown Copyright 2016. All rights reserved.
Licence number 100022432. Plotted Scale - 1:1250
COVENANT
Busy Bees Nurseries Limited (03454787)
FA
TENURE
10m
20m
Freehold
32
0m
j
og
at
This is evidenced by the current passing rent of the
Bright Horizons in Lee SE13 which reflects £20.21 psf and by
the current passing rent of the Busy Bees nursery in Chineham
which reflects £21.58 psf.
nd
LB
The first Busy Bees nursery, ‘The Rocklands’, was opened in
1984 in Lichfield, Staffordshire and now Busy Bees nurseries
are the UK’s largest childcare nursery provider with 250
childrens nurseries nationwide. Busy Bees acquired Leapfrog
(88 nurseries) in 2007, Just Learning (71 nurseries) in 2012,
Kinder Nursery Group (12 nurseries) in 2014 and Caring
Daycare (12 nurseries) in 2014.
Turnover
Pre-Tax Profit
Total Net Worth
31 Dec 2012
31 Dec 2013
31 Dec 2014
£33,407,865
£33,182,347
£34,060,882
£4,572,340
£4,253,446
£4,722,845
£37,626,141
£41,891,402
£46,852,491
KATHERINE HOUSE
PROPOSAL
We are instructed to seek offers in
excess of £2,260,000 (Two Million
Two Hundred and Sixty Thousand
Pounds), subject to contract and
exclusive of VAT. A purchase at this
level reflects a net initial yield of 5%
assuming the usual purchasers costs
and a low capital value of £371 psf.
FOR FURTHER INFORMATION OR TO MAKE ARRANGEMENTS FOR VIEWING PLEASE CONTACT:
Andy Pointon
020 7543 6720
Lottie Hayward
020 7543 6750
[email protected]
[email protected]
www.allsop.co.uk
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 03.16