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Accommodation
The property has been measured by BKR Floor Plans and provides the following Net Internal Areas:
| Zone A | 71.53 sq m | 770 sq ft |
| Zone B | 37.07 sq m | 399 sq ft |
| Zone C | 8.08 sq m | 87.00 sq ft |
| ITZA | 991 | |
| Total | 116.68 sq m | 1,256 sq ft |
A set of floor plans is available to download, and the measured survey will be re-addressed to a purchaser at a cost of £540 + VAT.
Rateable Value
According to the Valuation Office website the rateable value is £30,250.
The business rates multiplier is 38.2 pence, hence the rates currently payable by the tenant are £11,555.
Tenure
Virtual Freehold – 999 year lease from 21st April 2017 at £150 per annum.
Tenancy
The ground floor is let to Scoffs (Essex) Limited, trading as Costa Coffee, on an effectively full repairing and insuring lease for a term of 10 years from 6th May 2026, expiring on 5th May 2036. There is a tenant break option on 5th May 2031. The lease is inside the Landlord and Tenant Act 1954.
The current passing rent is £36,000 per annum. There is an open market, upwards only rent review on 6th May 2031.
The tenant has been in occupation since 2016 and entered into a lease renewal in May 2026, demonstrating their commitment to this location. The rent increased from £28,000 per annum to £36,000 per annum at renewal.
Covenant
Scoffs (Essex) Limited is the principal operating subsidiary of Scoffs Group Limited.
Costa only partners with large, established multi-unit organisations in the United Kingdom. Established in 2012, Scoffs is the UK’s largest Costa Coffee franchise partner with 110+ stores and 1,000+ employees.
In 2024, Scoffs Group entered a growth partnership with Itsu, with a stated projection of 20 organic openings per year over the following five years. Beyond Costa Coffee, the group holds franchise agreements with Burger King, Taco Bell, and Miss Millie’s. The group is reported to serve more than 9.2 million customers annually across its portfolio.
For the year ending 31st December 2024, the company reported Shareholders’ Funds of £2,985,198. For further information see www.scoffs-group.co.uk.
Costa Coffee itself was founded in 1971 and is the UK’s largest coffee shop chain and the second largest globally, operating thousands of stores across more than 38 countries worldwide. In the last financial year Costa Limited reported a Revenue of £1,231,795,000, Pre-Tax Profits of £65,046,000 and Net Assets of £263,990,000.
In January 2019 The Coca-Cola Company announced that it had completed the acquisition of Costa Limited from Whitbread PLC for $4.9 billion. The Coca-Cola Company is the world’s largest non-alcoholic beverage company with numerous brands sold across more than 200 countries and territories, serving 2.2 billion drinks per day.
For further information see www.costa.co.uk and www.coca-colacompany.com.
VAT
The property has not been elected for VAT.
Proposal
We are instructed to seek a figure of £570,000 (Five Hundred and Seventy Thousand Pounds), subject to contract, reflecting a net initial yield of 6.02%, assuming purchasers’ costs of 4.96%.
Please note that a purchaser will be re-charged the costs of the measured survey (£540 + VAT) and searches (£915.82) which are provided in the data room.
Please note that a purchaser will be charged a Transaction Fee of 1.0% of the Purchase Price plus VAT.
We are also instructed to sell another Costa investment at 29 The Market, Carshalton, Sutton, SM5 1AG – See Here.
Investment Considerations
An opportunity to acquire an attractive London Costa Coffee investment;
The property occupies a highly prominent position, immediately opposite St James Street station;
The tenant has been in occupation since 2021 and signed a new lease in May 2026, demonstrating their commitment to this location;
- The rent increased from £28,000 per annum to £36,000 per annum at lease renewal;
VAT-free investment;
A purchase at the asking price reflects an attractive net initial yield;
Attractive lot size to an investor.
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Data Room
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