Multi-let industrial investMent OppOrtunity

Progress way Business ParkprOgress Way

CrOydOn Cr0 4Xd

Croydon Energy Power Station

PC World Next

Purley Way Centre

Wandle Park

Sainsbury’s Centre

Decathalon

Vauxhall

Currys

Argos

John Lewis

Purley Way

Progress Way Business Park

investment Considerations ■ south london multi-let industrial investment

opportunity located in one of the most established commercial centres in greater london.

■ Situated in a prominent position off Purley Way (A23)

■ Significant on-going regeneration of Croydon and the local area

■ Freehold site extending to 1.80 acres (0.73 ha)

■ The property comprises 31,002 sq ft (2,880 sq m) of light industrial accommodation arranged over 18 units

■ Passing rent of £296,097 per annum, equating to £9.55 per sq ft.

■ Offers are sought in excess of £4,665,0000 (Four million six Hundred and sixty Five thousand Pounds). assuming usual purchaser’s costs of 5.8%, a purchase at this level reflects a net initial yield of 6%, a Capital value of £150 psf.

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

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

Slough

HemelHempstead

Chesham

Berkhamsted St Albans

HighWycombe

Thame

Watford

WembleyUxbridge

Ruislip

Rickmansworth

BrentCross

Woking

SouthOxney

CROYDON

HarefieldHarrow

Borehamwood

Enfield

Windsor

Famborough

Aldershot

Alton

BASINGSTOKE

Famham

Fleet

WokinghamBracknall

Egham

Ascot

SandhurstBagshot

READING

OXFORD

Henley-on-ThamesMaidenhead

EpsomSutton

Swanley

Fulham

Ashford

Richmond

KingstonUpon Thames

Hounslow

Southall

BillericayWickford

Stanford-le-Hope

Southend-on-SeaBenfleetCanveyIsland

Brentwood

Chelmsford

ChippingOngar

Basildon

Welwyn GardenCity

Walton-on-Thames

Clapham

Harpenden

EastCroydon

ChurchStreet

WellesleyRoad

WestCroydon

GeorgeStreet

Centrale

ReevesCorner

WandlePark

WaddonMarsh

WestCroydon

EastCroydon

Waddon

Beddington Farm Road

Pro

gress W

ay

Commerce Way

Waddon Road

Epso

m R

oad

Tam

wor

th R

oad

Church Street

Ruskin

Road

High S

treet

Hig

h S

treet

George Street

Factory Lane

Miller R

oad

Poplar Walk

Old

Town

Roman W

ay

Coombe Road

Low er Coombe Street

Southbridge Road

Park Lane

Park Lane

Wellesley R

oad

A23 P

urley Way

A232 Croydon Road

Flyover

A232 T

he C

royd

on

A232 Duppas Hill Road

Staf

ford

Roa

d

PROGRESS BUSINESS PARK

LocationProgress Way Business Park is located in Croydon which is regarded as one of the principal commercial centres in south London and is currently undergoing significant regeneration set to further enhance the area. Croydon comprises extensive industrial/ warehouse, business park and retail accommodation focused around Purley Way (A23). Croydon is located approximately 10 miles south of Central London.

The town benefits from excellent transport communications with the A23 providing access to the M25 (Junction 7) and the M23 (Junction 8) approximately 8 miles to the south. Furthermore, Croydon benefits from strong rail communications with East, West, and South Croydon railway stations serving the local area providing fastest journey times to London Bridge and London Victoria of 14 minutes and 16 minutes respectively. The town also benefits from the Croydon Tramlink.

London Gatwick airport is directly accessible via the A23/M23, approximately 9 miles to the south while London Heathrow airport lies 17 miles to the north west.

SituationThe site is accessed from Progress Way, which runs parallel to Purley Way. Croydon Town Centre is located approximately 1.5 miles to the east and is accessed via the A232.

The immediate area is the focus for a large number of major retailers, most notably Ikea, John Lewis, Sainsburys and Currys/PC World. Other surrounding occupiers include Vauxhall, HSS Hire, Wickes, Carpetright, and Sofaworks.

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

DeScriptionThe property comprises 5 terraces of light industrial/ warehouse accommodation totalling 31,002 sq ft (2,880 sq m) with individual units ranging from 958 sq ft (89 sq m) to 7,132 sq ft (660 sq m). Each terrace is of steel framed construction with brick and glazed elevations under steel pitched roofs. the units comprise open plan light industrial/ warehouse accommodation with mezzanine level office/storage accommodation.

All units benefit from roller shutter door access, good minimum eaves heights, designated parking, painted concrete floors, and mezzanine level office/ storage accommodation.

the property is well secured with palisade fencing to the perimeter, automated gated entrance-exit ways and CCtv throughout the site that is remote monitored.

SiteThe property comprises a site area of 1.80 acres (0.73 hectares) which provides a site coverage of approximately 47.20%.

tenancy ScheDuLe

unit ref tenant name Area sq m Area sq ft rent p.a. rent psf lease start lease expiry Comments

PW.01/02 Vacant 163.79 1,763 £18,511 £10.50 Vendor to provide 1 year rent guarantee

PW.03/04 Cleansafe (UK) Ltd. 165.27 1,779 £20,459 £11.50 01/10/2010 30/09/2013 Holding over

PW.05 Malden Renders& Finishes Ltd. 108.79 1,171 £12,500 £10.67 09/12/2013 08/12/2018 Break at 09/12/16 subject to 6 months notice

PW.06 Vacant 108.79 1,171 £13,466 £11.50 Vendor to provide 1 year rent guarantee

PW.07 Emprise Services Plc. 108.79 1,171 £15,000 £12.81 01/11/2012 31/10/2015 Rolling break subject to 6 months notice

PW.08 Barrington Byfield 108.79 1,171 £13,502 £11.53 10/12/2014 09/12/2017

PW.09 Kenneth Douglas Kyriacou 108.79 1,171 £12,000 £10.25 03/10/2012 02/10/2015 Contracted out of 1954 Act

PW.10 Chic Shack Ltd. 108.79 1,171 £12,998 £11.10 16/12/2013 15/12/2016 Rolling break on anniversary of term subject to 3 months notice Contracted out of 1954 Act

PW.11 TSJ Cash & Carry Ltd. 108.79 1,171 £12,500 £10.67 29/11/2013 28/11/2016

PW.12 Carpetright Plc. 108.79 1,171 £11,000 £9.39 17/09/1992 16/09/2017

PW.13 Progress Vehicle Management Ltd. 660.07 7,105 £55,500 £7.81 24/06/2011 23/06/2016

PW.14 International Food Service Equipment Ltd. 662.58 7,132 £55,000 £7.71 27/06/2011 26/06/2020 Next break 27/06/16 subject to 9 months notice Contracted out of 1954 Act Next RR 27/06/16

PW.15 Clever Joinery Ltd. 89.00 958 £13,412 £14.00 14/05/2014 13/05/2017 Contracted out of 1954 Act

PW.16 Kasias Karpets Ltd. 89.93 968 £10,000 £10.33 01/10/2012 30/09/2015 Contracted out of 1954 Act

PW.17/18 Verizon UK Ltd. 179.21 1,929 £20,250 £10.50 27/08/2010 26/08/2020 Next break 27/08/15 subject to 6 months noticeNext RR 27/08/15

total 2,880.16 31,002 £296,097 £9.55

CovenantInternational Food Service Equipment LimitedExperian Rating: 87 (Low Risk)D&B: TBC

turnover £5,987,779

Pre-Tax Profit £308,774

total net Worth £637,50

Progress Vehicle ManagementExperian Rating: 96 (Very Low Risk)D&B: TBC

turnover £n/a

Pre-Tax Profit £n/a

total net Worth £1,561,215

serviCe CHargeThe service charge budget for the current financial year ending 31/03/2015 is £60,769.33 equating to £1.96 per sq ft.

non reCoveraBlesThe current vacancy rate is 9.46% (2,934 sq ft)

service Charge £5,751

rates £11,929

total £17,680

Tenancies as at 02/02/2015.

croyDon regeneration

Over the next few years and looking forward to 2020 Croydon will transform significantly with extensive development of retail, leisure and commercial schemes. Croydon has received a £23 million support package from the Mayor of london’s regeneration Fund and £70 million has already been committed by the Croydon Council and other partners to the regeneration of the town.

Croydon’s 2020 vision has received £3.5 billion of commitment to consented and proposed development projects with more to come. the vision seeks to effect the urban planning of Central Croydon extensively and promote Croydon as a hub of living, retail, culture and business in South London and south east england.

Hammerson and Westfield have entered into a 50/50 joint venture with approved plans for:

■ £1 billion regeneration of the Whitgift Centre

■ 1.5 million square feet of retail and leisure space including a major department store and a range of shops designed to attract a variety of occupiers

■ Over 5,000 permanent local job opportunities for Croydon

■ New leisure facilities, new public realm, new car parking provisions

■ Approximately 500 new homes.

The development is due to begin in 2015 with a target date for opening in 2018. Ruskin Square (East Croydon Gateway), a 9 acre site, situated 200 metres from the subject property is undergoing a £500 million development by Stanhope and Schroders. The completed development will include five buildings with up to 625 homes, approximately 240,000 sq ft of offices, retail units and a car park.

Guy Scott Plummer020 7543 6726guy.scott-plummer@allsop.co.uk

For FurthEr inFormation or to makE arrangEmEntS For viEwing plEaSE ContaCt:

www.allsop.co.uk

Scott Tyler020 7543 6719scott.tyler@allsop.co.uk

James Salmon020 7543 6880james.salmon@allsop.co.uk

propoSaL Offers are sought in excess of £4,665,0000 (Four million six Hundred and sixty Five thousand Pounds). Assuming usual purchaser’s costs of 5.8%, a purchase at this level reflects a net initial yield of 6%, a Capital Value of £150 psf.

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 02.15

tenureFreehold

epcthe property has been rated C to d on the EPC scale (57 - 109). EPC certificates available upon request.

Vatthe property is elected for vat purposes and therefore vat will be payable by the purchaser, unless the sale is structured as a tOgC.