English 
Arabic 
Chinese 
French 
German 
Hebrew 
Spanish 
Accommodation
The property has been measured by BKR Floor Plans and provides the following accommodation:
| Zone A | 96.15 sq m | 1,035 sq ft |
| Zone B | 92.81 sq m | 999 sq ft |
| Zone C | 94.94 sq m | 1,022 sq ft |
| Remainder | 96.24 sq m | 1,036 sq ft |
| ITZA | 1,919 | |
| Ground Floor Total | 380.15 sq m | 4,092 sq ft |
| First Floor | 403.93 sq m | 4,348 sq ft |
| Total | 784.08 sq m | 8,440 sq ft |
A set floor plan is available to download, and the measured survey report will be re-addressed to a purchaser at a cost of £660 + VAT.
Tenure
Long leasehold interest for a term commencing on the date of completion and expiring on 28th December 2187 (approximately 162 years unexpired) at a peppercorn rent.
Tenancies
The property is let to Superdrug Stores PLC on a full repairing and insuring lease for a term of xx years from xxx, expiring on xxx.
In November 2025 the tenant signed a supplemental lease, extending the lease term from 25th February 2026, expiring on 24th December 2029, demonstrating their commitment to this location.
The rent payable is £74,000 per annum.
The tenant has been granted a two month rent free period from 25th March 2026. The vendor will top-up the income by way of an appropriate adjustment on the completion sum, in order than an investor does not suffer an income shortfall.
The tenant has been in occupation for xxx years.
Rateable Value
According to the Valuation Office the rateable value for the property is £61,500.
The business rates multiplier is 55.5 pence.
Service Charge
The service charge payable by the tenant is £xxx per annum.
Copies of the service charge accounts and budget are provided in the data room.
Covenant
Superdrug Stores PLC (Co. No. 00807043) has reported the following figures:
| 28th December 2024 | 30th December 2023 | |
| Revenue | £1,634,452,000 | £1,527,989,000 |
| Pre-Tax Profits | £136,826,000 | £111,638,000 |
| Net Assets | £439,838,000 | £378,774,000 |
Established over 60 years ago, Superdrug is the UK’s second largest beauty and health retailer with over 800 stores across the UK and Ireland.
Superdrug is part of AS Watson Group, the world’s largest international health and beauty retailer operating over 17,000 stores under 12 retail brands in 29 markets, with over 130,000 employees worldwide. For the fiscal year 2024, AS Watson Group recorded revenue of over US$24 billion. For further information see here.
Upper Floors Potential
Based upon the asking yield of x% in relation to the retail income of £66,750, this allocates a purchase price to the upper floor areas of the property at £xxx which equates to only £xxx per sq ft. In comparison, our research suggests that residential values in this location are in the region of £xxx-£xxx per sq ft.
Altough the offices are currently let, there are landlord / mutual break options in the leases which can be exercisable at any point, subject to xx months’ notice. Therefore, vacant possession can be obtained, offering an opportunity to exploit these parts and convert them to residential use, subject to planning permission.
An indicative scheme has been drawn up by the vendor for xx residential units as follows:
First Floor: xx x xx-bedroom apartments
Second Floor: xx x xx-bedroom apartments
Our research suggests that xx and xx bedroom flats in this location are worth in the order of £xxx. Hence an exit value in the order of £xxx, thereby providing significant potential to enhance value.
VAT
The property has been registered for VAT. It is anticipated that the sale will be treated as a Transfer of a Going Concern (TOGC) subject to compliance with the provisions in the sale contract.
Proposal
We are instructed to seek a figure of £780,000, (Seven Hundred and Thirty Thousand Pounds) subject to contract, reflecting a net initial yield of 9.0% assuming purchaser’s costs of 5.45%.
Please note that a purchaser will be re-charged the costs of the measured survey (£660.00 + VAT) and searches (£xxx) 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.
Investment Considerations
The property is located in an affluent location within the London commuter belt;
The property occupies a prime retailing pitch;
Undoubted income, being let to Superdrug Stores PLC (Pre-Tax Profits £137 million);
The tenant has been in occupation since xxx;
Attractive lot size for an investor;
Attractive net initial yield.
Singer Vielle Finance Services
Contact our team if you are seeking senior debt, bridging finance or development finance.
Join Our WhatsApp Community
Receive early notifications of property investment opportunities direct to your phone.
