• Located within the heart of densely populated Pimlico

• Hot Food Takeaway premises with spacious 3 bed flat on the upper parts

• Valuable Sui Generis Use with permitted development to Class E Use

• Low availability of restaurant/takeaway premises in the area

• Jointly let to DP Realty Ltd & Have More Fun (London) Ltd t/a Domino’s Pizza (Net Assets £4.78m)

• Parent company listed on the London Stock Exchange (Underlying EBIT £119m)

• 15 years unexpired at a rent of £55,000 per annum - tenant beak in March 2028

• Upwards only rent review in March 2023

• Residential element offered with vacant possession with add value potential

• Rental value of £55,000 per annum for the residential element

• Total ERV for the property of £110,000 per annum

• VAT-Free

• £1,800,000, subject to contract

• The price reflects a Net Initial Yield of 6% on the commercial element and a value of £930,000 / £880 per sq ft (£9,480 per sq m) on the residential element.

• £652 capital value per sq ft overall (£7,027 per sq m)

The property occupies a 100% prime position on Warwick Way which is the most sought-after retail and leisure destination in Pimlico with an eclectic mix of local and national operators.

The property is next door to Little Waitrose and opposite a Tesco Express. Other businesses on Warwick Way include Holland & Barrett, Snappy Snaps, Caffe Nero, and various estate agencies.

Tachbrook Street Market is located moments away from the property and is open Monday to Saturday offering a mixture of luxury foods, household goods and clothing.

The immediate vicinity benefits from a highly dense residential and commercial population making it a perfect site for a Dominos Pizza. Furthermore, the vicinity is an ideal place to live and benefits from an exceptionally strong residential rental market.

The property comprises a commercial and residential building arranged over basement, ground, first, and second floors.

The commercial element of the property benefits from a rare Sui generis use allowing for hot food takeaway. This use class allows the property to be used for any other use falling under Class E including retail, restaurant, office and so on.

The commercial element is arranged over ground and basement and has been fitted out by the tenant to their usual corporate style as a fully functioning hot food takeaway and delivery premises.

There is a customer collection area, a kitchen and preparation area on the ground floor and an office and storage accommodation in the basement.

The residential element benefits from self-contained access from the front of the property and is arranged over ground, first and second floors. There are three double bedrooms, a large open plan living room, a fully fitted kitchen and a utility room. There is a generous landing space fit in between the first and second floors fit for a small office, WC or storage.

The furniture shown in the pictures can be included as part of the sale, further information upon request.

The property was refurbished in 2018.

The property has been measured by BKR Floor Plans and provides the following net initial floor areas for the commercial element and gross internal areas for the residential element:

A set of floor plans is available to download and the measured survey report will be re-addressed to a purchaser at a cost of £590 + VAT.

Freehold.

Both DP Realty Ltd and Have More Fun (London) Ltd are trading subsidiaries of Domino’s Pizza Group Plc who are listed on the London Stock exchange and reported in their 2021 annual report, £1.5 bn in Sales, £119.9m in Underlying EBIT and £78.3m in Statutory Profit.

The ultimate parent company is Domino’s Pizza Inc who are listed on the New York Stock Exchange and reported a revenue of $4.35bn in 2021.

Domino’s Pizza is the UK’s leading pizza brand with over 1,200 stores across the UK and Republic of Ireland. The company employs a workforce of over 35,000 people and last year sold over 105 million pizzas.

Domino’s Pizza sell a wide range of pizzas with varied toppings. They also sell a range of sides, drinks and desserts. Sales are channelled mainly through a sophisticated delivery network. Orders are received through telephone calls, a smartphone app, website and in store collections.

Domino’s Pizza is one of the most recognisable pizza services in the world with approximately 15,000 stores in over 80 countries.

DP Realty Ltd (Co. No. 02882513) has reported the following figures:

DP Realty Ltd lease properties as sites for Domino’s Pizza stores and sub lease the sites or share lease liabilities with franchisees.

Have More Fun (London) Ltd (co. No. 02942408) has reported the following figures:

Have More Fun (London) Ltd have been a franchisee of Domio’s Pizza since 1994 and operate Domino’s Pizza takeaway and delivery sites.

Both DP Realty Ltd and Have More Fun (London) Ltd individually are responsible for meeting all the lease obligations.

The property has not been registered for VAT and therefore VAT is not applicable on the purchase price.

1. An opportunity to acquire a property in one of London’s most affluent boroughs;

2. Various asset management opportunities including splitting the duplex flat into two separate flats or increasing the massing, subject to planning permission

3. 15 years unexpired lease term with a tenant break in 5 years

4. Opportunity to increase the commercial rent at the next rent review in March 2023

5. Opportunity to negotiate a removal of the 2028 break clause

6. Pimlico is a highly south after location for renters

7. Rare use class on the commercial element allowing for Hot Food Takeaway

8. Commercial element let to the secure covenant of DP Realty Ltd and Have More Fun (London) Ltd t/a Domino’s Pizza

9. VAT-Free

10. Attractive lot size to an investor;

Access to the data room and for the ability to purchase online with speed and ease, please click the clicktopurchase® “C” icon or the clicktopurchase® side bar. Purchasers will be able to access the complete legal package, clear verification and submit legally-binding offers to acquire the property.

Purchasers benefit from the trust, security and transparency provided by the platform. All activities, including the online contract execution, will form part of the electronic audit trail which is anchored in the clicktopurchase® Blockchain.

clicktopurchase® provides the opportunity for any investor, whether located UK or abroad, to uniquely purchase online with ease and certainty. To learn more about clicktopurchase®, click here.

UPDATE YOUR INVESTMENT REQUIREMENTS