122-124 High Street, Slough SL1 1JF

Mixed Use Investment Opportunity

Investment Considerations ■ Prominent High Street unit totalling 4,643 sq ft ■ Attractive period building set on the pedestrianised High Street

■ Freehold ■ Potential surrender and change of use, subject to obtaining necessary consents

■ Current rent passing of £104,940 p.a. ■ Offers in excess of £900,000 (Nine Hundred Thousand Pounds) subject to contract and exclusive of VAT. This equates to a net initial yield of 11.02% after allowing for purchasers costs of 5.8%.

122-124 High Street, Slough Sl1 1JF

High Street

M4M4

A35

5

A355

Wellington St

A4

A412

Slo

ug

h Road

A412

Win

dsor

Roa

dChavley Road (A412)

Upton Road

Herschel Park

Desborough Park

Eton CollegeGolf CourseCommon

The Home Park

Upton Court Park

Salt Hill Park

Bloom Park

Ditton Park

Argars Pllough Playing Fields

Slough

The PropertyThe Property

LONDONHeathrow

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

A339

A316

A309

A232

A264

A264

A229

A120

A404

A355

A404

A413

A4142

A4010

A414

A414

A414

A1

A2

A3

A3

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

M25

M23

M26

M20

M20

M11

M11

A1(M)

M1

Harlow

Bishop’sStortford

EppingPotters Bar

Knebworth

Hertford

LUTON

Aylesbury

Dunstable Stevenage

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

Cranleigh

NorthHorsham

HaywardsHeath

Burgess Hill

Redhill

Oxted

DorkingGUILDFORD Reigate

Staines

HemelHempstead

Chesham

Berkhamsted St Albans

HighWycombe

Thame

Watford

WembleyUxbridge

Ruislip

Rickmansworth

BrentCross

Woking

SouthOxney

SLOUGH

HarefieldHarrow

Hampstead

Borehamwood

Enfield

Windsor

Famborough

Aldershot

Alton

BASINGSTOKE

Famham

Fleet

WokinghamBracknall

Egham

Ascot

SandhurstBagshot

READING

OXFORD

Henley-on-ThamesMaidenhead

EpsomSutton

Swanley

Fulham

Ashford

RichmondHounslow

Southall

BillericayWickford

Stanford-le-Hope

Southend-on-SeaBenfleetCanveyIsland

Brentwood

Chelmsford

ChippingOngar

Basildon

Welwyn GardenCity

Walton-on-Thames

KingstonUpon Thames

Clapham

Harpenden

LocationSlough is a major commercial centre within the Thames Valley located approximately 24 miles west of London and 10 miles west of Heathrow airport. Communication links are excellent with Junction 5 of the M4 motorway 1 mile to the south which provides access to Junction 15 of the M25 3 miles to the east. The town also benefits from regular rail services to London Paddington with a quickest journey time of 17 minutes. Slough is also set to benefit from the arrival of Crossrail in 2018.

SituationThe property is situated on the southern side of the pedestrianised High Street located adjacent to HSBC with other nearby occupiers including Natwest, Starbucks, Virgin, Marks and Spencer, Greggs and Vodafone.

Slough railway station is located approximately 500m to the north of the property.

Retailing within SloughRetailing in Slough has historically been dominated by the Queensmere and Observatory Shopping Centres. The prime retail pitch is now perceived to be the High Street which is proving to be a more popular location with retailers. A number of tenants have relocated out of the schemes onto the High Street as recent improvements to the pedestrianised High Street have

increased footfall. Major occupiers in the town include Debenhams, Primark, TK Maxx, Next and Marks & Spencer. There is substantial town centre car parking with 900 spaces in the Queensmere Centre, 630 spaces within the Observatory Shopping Centre and 400 spaces adjacent to the railway station.

The towns retail offering will be further improved with Criterion Capital and Slough Shopping Centre to redevelop the Queensmere Observatory Shopping Centre which will invigorate Slough town centre. The plans include 911 new homes, improved pedestrian links between the town centre and nearby transport hubs, and improved retail and leisure spaces which will increase the number of visitors to the town centre.

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Unit Tenant Lease Start Lease Expiry

Area sqm (ITZA)

Area sq ft (ITZA)

Rent Comments

Basement Vacant 35 377 -

Ground Alliance & Leicester PLC 4/11/1998 3/11/2018 173.7 (96.6)

1,870 (1,039)

£80,000 Not in occupation

First – Suite A Vacant 60.5 651 - -

First – Suite B Kasia Strofowicz 15.5 167 £6,240 Hair and Beauty salon. Occupied by way of a licence.

First – Suite C Preeti’s Hair & Beauty 33.2 357 £5,200 Occupied by way of a tenancy at will.

Second SS Uppal & L Sangha 08/08/2000 07/08/2010 77.4 833£13,500 Tenant holding over

Third SS Uppal & L Sangha 08/08/2000 07/08/2010 36.1 388

Total 431.4 4,643 £104,940

Tenancy Schedule

31.5m

TCBs

Street

Macke

nzie

Bank

1127

125

139

126

Bank

El Sub Sta

137135

Bank

122 130128

118 124112

116

129131

133

120114

0m 5m 10m 15m

Ordnance Survey © Crown Copyright 2015. All rights reserved. Licence number 100022432. Plotted Scale - 1:464

HIGH STREET

DescriptionThe property is arranged to provide a ground floor banking hall with basement storage. The three upper floors are arranged to provide hair and beauty salons on the first floor with offices on the second and third floors.

There is car parking included in the title of the property, however this is not accessible.

CatchmentSlough has a prosperous catchment population of approximately 242,000. This is set to grow to approximately 254,000 by 2016 (Source: Promis). The success and prosperity of the catchment population is demonstrated by 29% classed as AB (most affluent) and 31% classed as C1

against a national average of 25% and 29% respectively.

Unemployment within Slough has historically been below the national average with 1.8% of Slough’s population using the Slough Job Centre compared to the national average of 2.0%.

© Crown Copyright, ES 100004106. For identification purposes only.

122-124 High Street, Slough Sl1 1JF

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 04.15

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

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

Richard How020 7543 6825richard.how@allsop.co.uk

David Hammond020 7543 6721david.hammond@allsop.co.uk www.allsop.co.uk

Proposal Offers in excess of £900,000 (Nine Hundred Thousand Pounds) subject to contract and exclusive of VAT. This equates to a net initial yield of 11.02% after allowing for purchasers costs of 5.8%.

TenureFreehold

VATThe property is registered for VAT and therefore VAT will be payable on the purchase price or dealt with by way of a TOGC.

EPCThe property has been rated E on the EPC scale (112). EPC certificates available upon request.