ON BEHALF OF JOINT FIXED CHARGE RECEIVERS ASHFORD

117-133 (ODD NUMBERS ONLY) CONVENT ROAD, MIDDLESEX TW15 2HW

MIXED RESIDENTIAL AND RETAIL PARADE OFFERING SIGNIFICANT DEVELOPMENT POTENTIAL AND ASSET MANAGEMENT OPPORTUNITIES

ON BEHALF OF JOINT FIXED CHARGE RECEIVERS

ASHFORD

117-133 (ODD NUMBERS ONLY) CONVENT ROAD, MIDDLESEX TW15 2HWASHFORD

ASHFORD

Investment Considerations• Freehold mixed use parade comprising:

• Nine ground floor shops each with a first & second floor flat (9 x 2 bedroom)• Terrace of nine garages• Total site area of 0.216 hectares (0.534 acres) with a vacant and undeveloped element of the site

extending to 0.054 hectares (0.133 acres)• 8 of the retail units and associated flats each let subject to Full Repairing and Insuring leases• Five leases currently holding over• No.133 comprising a flat and shop currently vacant• Total Current Rental Income of £116,500 per annum• 6,643 sq ft (617.13 sq m) of retail and 5,706 sq ft (530.09 sq m) of residential accommodation• Significant development and asset management opportunities

• Offers in excess of £2,250,000 (Two Million Two Hundred and Fifty Thousand Pounds) are invited Freehold interest subjecting to all existing leases and tenancies, subject to contract and exclusive of VAT.



ASHFORD


Feltham Road B377

B378

Convent R

oad

B378

School Road

B378

Feltham Hill Road

Feltham Hill Road

Feltham Hill Road

B377

Church Road

Fort

brid

ge R

oad

Manor Road

Fontmell Park

Rex

Ave

nue

Link

scro

ft A

venu

e

Ashford Avenue

Muncaster Road

Metcalf Road

P

ark

Roa

d

Coolgardie Rd

Chalm

ers Road

East

Chalm

ers Road

Lynegrove Avenue

New Park Road

Pop

lar

Roa

d

Junction Road

Mor

ning

ton

Roa

d

Chesterfield Rd

Clarendon Road

Prin

ces

Roa

d

Per

cy A

venu

e

D

ing

le Road

Denman Drive

Glenfield Road

Hug

hes

Roa

d

O

rcha

rd A

venu

e

Sou

thfie

lds

Ave

Car

ew R

oad

Hog

arth

Ave

nue

Elg

in A

venue

Cec

il R

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Ap

pro

ach

Rd

Fo

ntme

ll Clo

se

A308 Kingston Road A308

A308 Staines Road West

ASHFORD MANORGOLF CLUB

QUEEN MARYRESERVOIR

■

PRESTON ■

BLACKBURN

■

HUDDERSIELD

■

WAKEFIELD

■

EAST KILBRIDE

■

CHESTER

■

WREXHAM

■

TELFORD

■

ROYALLEAMINGTON SPA

■

SOLIHULL

■

REDDITCH

■

GLOUCESTER

■

NEWBURY

■

CHIPPENHAM

■

NEWPORT

■

BOURNEMOUTH

■

TORQUAY

■

DARTMOUTH

■

FALMOUTH■

PENZANCE

■

EXMOUTH

■

LYME REGIS

■

BIDEFORD

■

KING’S LYNN

■

BEDFORD

WELWYN■ GARDEN CITY

HEMELHEMPSTEAD ■

■

LEIGHTONBUZZARD

■

DOVER■

FOLKESTONE

■

HASTINGS

■

EASTBOURNE

■

DARTFORD

■

NEWMARKET

■

HARWICH

■

SEVENOAKS

■

ASHFORD

■

MAIDSTONE

■

HOVE

■

CRAWLEY

HASSOCKS ■

■

WOKINGHAM

■

GUILDFORD

BRADFORD■

HARROGATE■

SCARBOROUGH■

WHITBY■

MIDDLESBROUGH■

HARTLEPOOL■

FALKIRK■

ST ANDREWS■

LANCASTER■

ST HELENS■

BANGOR■

WIGAN■

ROCHDALE■

STOCKPORT■

GREAT YARMOUTH■

LOWESTOFT■

FELIXSTOWE■

CREWE■

SHREWSBURY■

BARRY■

WESTONSUPER-MARE

■

BARNSTABLE■

ILFRACOMBE■

TINTAGEL■

NEWQUAY■

TRURO■

ST. IVES■

BODMIN■

WESTWARD HO! ■

TIVERTON■

BRIDGWATER■

CIRENCESTER■

WORCESTER■

HEREFORD■

MAIDENHEAD■

HIGHWYCOMBE

■

AYLESBURY■

FARNBOROUGH■

BRACKNELL■

WOKING■

■

ROYALTUNBRIDGE WELLS

TUNBRIDGE■

LEWES■

HAYWARDSHEATH

■

BRIGHTON■LITTLEHAMPTON

■

CHICHESTER■

POOLE■

SAILSBURY■

ANDOVER■

EXETER■

MARGATE■

CANTERBURY■

KETTERING■

HUNTINGDON■

WELLINGBOROUGH■

BURYST EDMUNDS

■

BRAINTREE■

CHELMSFORD■

■ SANDWICH

SOUTHEND-ON-SEA■

ROMFORD■

GILLINGHAM■CROYDON

■

CLACTON-ON-SEA■

LUTON■

RUGBY■

CHELTENHAM■

BLACKPOOL ■

FLEETWOOD ■

HULL■

Freehold mixed use parade comprising:Freehold mixed use parade comprising:

M1

M11

M25

M25

M40

M40

M42

M6 TollM54

M42

M1

M1

M6

M6M5

M5

M62M65

M74M77

M8

M9

M80

M73

M60

M56

M66

M18

A1

A63

A15

A1

A1

A428

A14

A43

A47

A11

A11

A46

A38

A52

A52

A59

A59A59

A570

A1(M)

A1(M)

A1(M)

A1(M)

A1(M)

M180M58■

MANCHESTER■

ST HELENS

■NORWICH

■BRISTOL

■BATH

■PLYMOUTH

■PORTSMOUTH

■SOUTHAMPTON

LONDON

■

SUNDERLAND■

CARLISLE

BIRMINGHAM■

WOLVERHAMPTON■

WALSALL■

OXFORD■

CAMBRIDGE■

NORTHAMPTON■

IPSWICH■

LIVERPOOL■

LEEDS■

ASHFORDASHFORD

Freehold mixed use parade comprising:

NEWCASTLE UPON TYNE■

MIDDLESBROUGH■

EDINBURGH■

PERTH■

DUNDEE■

DONCASTER■

YORK■

HULL■

LEICESTER■

■BUXTON

■SHEFFIELD

■ SCUNTHORPEBARNSLEY■

■HALIFAX

■MILTONKEYNES

READING■

SWINDON■

■COVENTRY

DERBY■

STAFFORD■

BOSTON■

■BOLTON

■SWANSEA

CARDIFF■

■GAINSBOROUGH

■GRIMSBY

■BRIGG

NOTTINGHAM■

NEWARK-ON-TRENT■

CHESTERFIELD■

SOUTHPORT■

BLACKBURN■

BLACKPOOL■

STOKE-ON-TRENT■

NEWCASTLE-UNDER-LYME■

LINCOLN■

GLASGOW

Freehold mixed use parade comprising:

TENURE

Freehold

LOCATION

The property is located in Ashford within Spelthorne Borough Council. Ashford is approximately 58 km (36 miles) south west of central London and 4.98 km (3.1 miles) south of Heathrow. The property occupies a prominent corner position on the north side of Convent Road at its junction with School Road and Feltham Hill Road.

Both the A30 and A308 (located to the north and south of the property) link to the M25 approximately 6.44 km (4 miles) to the west of the property and the M4.

There is a bus stop adjacent to the property providing services to Staines, Wimbledon and Twickenham.

Ashford train station is 1.6 km (1 mile) north west of the property and has regular direct services to London Waterloo (c.40 minutes) and Staines (c.4 minutes).

Heathrow airport is located 4.82 km (3 miles) north of the property. Europe’s busiest airport is used by 80 airlines flying to 185 destinations.



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

DESCRIPTION

The property comprises a mixed use parade arranged over ground and two upper floors occupying a site of approximately 0.216 hectares (0.534 acres). The nine ground floor retail units each have a two bed maisonette above. Retail units, 117-125 (odd) each benefit from rear extensions.

The residential element of the parade is accessed from a front stairwell while the individual flats are approached via a rear first floor walkway. The nine two bedroom maisonettes all benefit from front terraces (above the retail) and we understand they are all currently sublet.

Vehicular access to the property is from Convent Road at the eastern side of the property. To the rear of the property is a terrace of nine garages which are each demised to the retail units together with additional car parking for approximately 4/5 cars (although there are no marked spaces). There is a triangular shaped vacant site to the north east which is included in the title and extends to approximately 0.054 hectares (0.133 acres).



RESIDENTIAL DEVELOPMENT POTENTIAL

In order to establish development potential the Vendor has commissioned Barton Willmore to undertake a detailed planning report.

The report ‘concluded that in planning terms there is clear potential for additional development of the site, comprising further residential redevelopment. This outcome could be achieved through a range of development solutions including extension of the existing building or comprehensive redevelopment.’

The full and detailed report is available to download from the data room (www.conventroadashford.com).

PLANNING

Local Planning AuthoritySpelthorne Borough Council Tel: 01784 451499Website: www.spelthorne.gov.uk

We have been advised that the property is neither Listed nor situated in a Conservation Area.

ASSET MANAGEMENT AND DEVELOPMENT OPPORTUNITIES (subject to obtaining all necessary consents)

• Let the vacant shop

• Refurbish and let the vacant flat

• Potential for an additional floor/ mansard

• Potential to extend/reconfigure the retail units

• Potential to re-gear the individual leases

• Potential to asset manage the structure of the leases and regain control of the residential uppers

• Potential to develop the site to the rear

• Comprehensive redevelopment of the site in its entirety

ACCOMMODATION AND TENANCY SCHEDULE

No. Trading Name Accommodation Floor Areas (Commercial NIA and Residential GIA)

Lease Dates Lease Term

Current Rent (PA)

Next Rent Review

Out of 1954

Holding actSQ FT (ITZA) SQ M (ITZA) Start Date End Date

117

Regency Dry Cleaning

Shop & garageGround

554 51.47

25/03/86 24/03/11 25 Years £13,750 - No117A 2 bedrooms, kitchen, bathroom, reception room, terrace

(454) (42.18)

First & second 634 58.9

119

Jubilee Installations

Shop & garage Ground865 80.36

25/03/86 24/03/11 25 Years £14,000 - No(568) (52.75)

119A 2 bedrooms, kitchen, bathroom, reception room, terrace First & second 634 58.9

121

Tile Centre

Shop & garage Ground1,068 99.22

25/03/86 24/03/11 25 Years £14,000 - No(606) (56.28)


123

William Hill


25/03/86 24/03/11 25 Years £16,000 - No(512) (47.56)


125

Loco


28/09/12 28/09/37 25 Years £15,000 28/09/17 No(576) (53.51)


127/129

Coffee Stop

Two shops & garage Ground1,124 104.42

29/09/12 28/09/37 25 Years £30,000 29/09/17 No(874) (81.22)

127A/129ATwo flats each comprising: 2 bedrooms, kitchen, bathroom, reception room, terrace

First & second 634 58.9

131

The Paper Shop


25/03/86 24/03/11 25 Years £13,750 - No(453.5) (42.13)


133

Vacant


- - - - -(447) (41.48)


Total £116,500.00

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 08.16

PROPOSALOffers in excess of £2,250,000 (Two Million Two Hundred and Fifty Thousand Pounds) are invited for the Freehold interest subjecting to all existing leases and tenancies, subject to contract and exclusive of VAT.

Receiver Caveat:This property is being marketed for sale on behalf of Joint Fixed Charge Receivers and therefore no warranties or guarantees in any respect, including VAT, can be given. The information in these particulars has been provided by the Joint Fixed Charge Receivers to the best of their knowledge, but the purchaser must rely solely on their own enquiries. The Fixed Charge Receivers are not bound to accept the highest or any offer and are acting in respect of the sale without personal liability.

EPCs

EPCs are available to download from the data room.

VAT

We understand that the property is not elected for VAT.

DATAROOM

Further information is provided in the dataroom. For access please register on the following website www.conventroadashford.com

For further information please contact:

National InvestmentsJames Salmon020 7543 [email protected]

Liam Stray020 7543 [email protected]

Residential Investment & DevelopmentJames Hood020 7344 [email protected]

Richard How020 7344 [email protected]

Michael Linane020 7344 [email protected] www.allsop.co.uk

ON BEHALF OF JOINT FIXED CHARGE RECEIVERS ASHFORD

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