Nando's, 59 Clapham High Street, Clapham, London, SW4
London - M25
Dba298
Tenure: Freehold
Tenancy: Single Let
Investment summary
•Prime freehold restaurant adjacent to Tesco and the Clapham One development.
•Retail accommodation arranged over ground and basement floor with the benefit of two self-contained one bedroom flats above.
•Nearby national multiples include Sainsbury’s, HSBC, Boots, Superdrug, Evans Cycles, KFC, McDonald’s, Gourmet Burger Kitchen and Strada.
•Total retail accommodation of 1,948 sq ft excluding the residential upper parts.
•Let on an overriding lease to the excellent covenant of Nando’s Chickenland Limited (D&B 5A1) with in excess of 18.25 years unexpired.
•Excellent covenant with a 2010 turnover of £279 million and pre tax profit of £24 million.
•Current rent passing of £96,170 pa.
•Nando’s operations are run from the ground floor and basement allowing the opportunity to negotiate the surrender of the first and second floor flats for separate letting or sale.
•Offers are invited in excess of £1,730,000, reflecting a Net Initial Yield of 5.25%, subject to contract and exclusive of VAT.