How To Buy A Building In South East London For \U00A31.5M

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1 Regent House, Kirkdale Sydenham SE26 Freehold mixed use investment/development opportunity for sale. Kinleigh Folkard & Hayward kfh.co.uk COMMERCIAL PROPERTY

2 Executive summary 03 Excellent mixed use investment in a rapidly changing area of South East London 48,437 sq ft over four floors, fronting both Kirkdale and Spring Hill Redevelopment opportunities Freehold Multi-let with tenants such as LA Fitness (now Pure Gym) Low capital value of per sq ft Asset management opportunities with high yield reversionary potential Offers sought in excess of 6,500,000

3 Location Sydenham is a suburban district located approximately 8 miles south east of Central London. It benefits from excellent transport links such as direct overland trains to London Victoria in 15 minutes and London Bridge in just 30 minutes, plus overground services provide easy access to other areas within the capital. In addition, Sydenham is well serviced by local bus routes. The subject property is on the corner of two roads, Kirkdale (A2216) and Spring Hill, which sit in the heart of Sydenham. It is less than a minutes walk from the station and Sydenham s main retail thoroughfare, Sydenham Road, which is occupied by local retailers. It is close to the junction of Westwood Hill (A212) which leads towards Crystal Palace and also has links to Forest Hill, by heading North on Kirkdale. Sydenham

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5 Description The property is a four storey 1950 s building which comprises retail units, a leisure centre, a nightclub, office accommodation and flats. The retail units, including an LA Fitness leisure complex, sit on the ground floor and front onto the busy Kirkdale Road. The ground floor also provides entrance to both the nightclub situated on the lower ground level and the B1 office accommodation at the northern end, which is arranged over the first and second floors. On Spring Hill sits the Regency working man s club located over three floors and it also provides access to three flats on the first and second floors, which are sold off on long leases.

6 Accommodation 07 The property has the following approximate dimensions and areas: Regent House, Sydenham SE26 Lower Ground sq m Ground sq m First sq m Second sq m TOTAL sq m TOTAL sq ft 291 Kirkdale (Nightclub) Kirkdale (LA Fitness) Kirkdale (Nisa Local franchise) /301 Kirkdale (Lewisham borough/cab) Kirkdale (Orange Blossom) Office Suite Office Suite Office Suite Office Suite Office Suite Office Suite Office Suite Office Suite Office Suite Office Suite Office Suite Office Suite 111A Office Suite Office Suite Office Suite Office Suite Office Suite Office Suite Office Suite Office Suite Office Suite Office Suite Office Suite 122 (Vacant) Office Suite Office Suite 123A Office Suite 124 (Vacant) Office Suite 124A Office Suite 124B Office Suite Office Suite Office Suite Office Suite Office Suite Office Suite Office Suite 131 (Vacant) Office Suite Office Suite Office Suite Office Suite 201 (Vacant) Office Suite Office Suite Office Suite Office Suite Office Suite 206 (Vacant) Office Suite 207 (Vacant) Office Suite Office Suite Office Suite Office Suite O2 (UK) Ltd Aerial Site (Roof) n/a n/a n/a n/a n/a n/a T-Mobile Aerial Site (Roof) n/a n/a n/a n/a n/a n/a Spring Hill Flats - Head Lessee n/a n/a n/a n/a n/a n/a Regent House, Roof Space n/a n/a n/a n/a n/a n/a Regency Club, Spring Hill (Vacant) Floor Totals Business Centre Space Total Let Space BUILDING TOTAL

7 Tenancy The property is currently part-let to a number of retail and leisure occupiers on Ground Floor level, as well as short term serviced office occupiers on the upper floors. The tenancy schedule below shows the current tenant mix. All tenancies are currently holding over. Tenure Freehold. Regent House, Sydenham SE26 Tenant Unit Status Tenure Annual Rent Lease Commencement 291 Kirkdale Midas Management Let Leasehold 60, Friday, 12 December years 291 Kirkdale LA Fitness Let Leasehold 9, Monday, 3 June Kirkdale LA Fitness Let Leasehold 12, Friday, 20 December Kirkdale LA Fitness Let Leasehold 75, Kirkdale Mr Sinnathurai (Nisa Local franchise) Let Leasehold 13, Friday, 6 March years 299 Kirkdale London Borough of Lewisham Let Leasehold 12, Monday, 25 August Kirkdale Lewisham Citizens Advice Bureau Services Ltd Let Leasehold 9, Wednesday, 19 November 03 Term Next Review Lease End Notes 40 years 9 months 24 day 10 years 303 Kirkdale Orange Blossom Let Leasehold 27, Monday, 19 July years Regent House Business Centre 5 years Wednesday, 12 December 18 Wednesday, 25 December 19 Wednesday, 25 December 19 Wednesday, 25 December 19 Wednesday, 6 March 19 Various Part-let Licences 188, Various Various Various Various O2 (UK) Ltd Aerial Site O2 (UK) Ltd Let Leasehold 6, T-Mobile Aerial Site T-Mobile Let Leasehold 6, Wednesday, 12 February 03 Flats 1-3 Spring Hill G.S. Callaghan Let Leasehold Wednesday, 1 January 97 Regent House, Roof Space Regency Club, Spring Hill Roof & Air Space, Regent House Let Leasehold Wednesday, 3 December 08 Vacant Leasehold - BUILDING TOTAL 420, less running costs of - 115, Net Income 305, years 124 years, 11months, 21 days 115 years Tuesday, 1 January December March March March 2032 Sunday, 5 March 34 Friday, 24 August 18 Tuesday, 18 November 08 Friday, 18 July 14 Monday, 11 February 13 Sunday, 21 December 21 Thursday, 2 December 23 holding over holding over expired are holding over long lease - holding over holding over

8 Market commentary 09 The South East London property market is transforming at a rapid pace. With permitted development rights still dominating the office market there is a lot of redevelopment going on. Within the immediate locality there is residential redevelopment of property going on, this includes a new mixed-use development opposite Regent House with A1/A2 retail units to let or for sale on a long leasehold basis, situated on the ground and basement floors. The building also has residential upper parts in the form of 7 apartments. Additionally, Sydenham Road is a freehold development site that was recently sold for 1,250,000 with full planning permission for 9 apartments. Asset management/redevelopment We understand that all tenancies that have expired are holding over at the present time. Upon purchase it is to the discretion of the freeholder as to whether to renew all, some or none of these. Excluding the tenancies/licences that are holding over there is an Average Weighted Unexpired Lease Term of 13.5 years with numerous options to re-gear leases through rent reviews from autumn 2015 to the end of The rental market in the local area is improving and we believe the total ERV for the building to be a gross figure of around 600,000 per annum. Redevelopment in the local area and throughout South East London is indicative of the potential for Regent House. Enquiries to the local council would need to be made but it seems likely that permission to convert to residential may be granted. Planning We understand the property is not listed but is situated within the Jews Walk Conservation area. VAT We understand the property is not elected for VAT. EPC The property has a rating of E, based on a score of 119. A copy of the Energy Performance Certificate is available upon request.

9 Proposal We have been instructed to seek offers in excess of 6,500,000, subject to contract, for the freehold interest. Further information The following information is available upon request: Leases Title plan Floor plans Further photography Viewing Should you wish to arrange an inspection, please contact: Kinleigh Folkard and Hayward Chartered Surveyors KFH House 5 Compton Road Wimbledon London SW19 7QA Ed Jeffs Tel

10 Our services Acquisition Disposal Investment Development Lease consultancy Valuations Visit kfh.co.uk Important: Whilst these particulars are believed to be correct, they are provided merely as a general guide to the property and do not and shall not hereafter become part of any offer or contract. Any person with an interest in the property should satisfy themselves as to any matters concerning the premises by inspection or otherwise as to their correctness. Neither Kinleigh Folkard & Hayward nor any of their employees or agents have authority to make or give any representation or warranty in relation to the property.