29-35 High Street Banstead Surrey SM7 2NH

29-35 High Street
Banstead
Surrey
SM7 2NH

Freehold Retail and Residential Investment

  • Four retail units with residential upper floors (let on long leases)
  • High Street location in Town Centre
  • Nearby occupiers include Caffe Nero, Halifax, Lloyds Pharmacy, Pizza Express and Marks and Spencer
  • Lot
    7
  • Auction
    23rd October 2014
  • Rent
    £92,200 per Annum Exclusive
  • Status
    Sold
  • Price
    £955,000
  • Sector
    High Street Retail
  • Auction Venue
    The Millennium Hotel
    44 Grosvenor Square
    London W1K 2HP
  • On Belhalf of Joint LPA Receivers Zolfo Cooper
Important Update
  • Expand
  • Photos
  • Map

* More information on the term "guide" can be found here

Freehold Retail and Residential Investment

  • Four retail units with residential upper floors (let on long leases)
  • High Street location in Town Centre
  • Nearby occupiers include Caffe Nero, Halifax, Lloyds Pharmacy, Pizza Express and Marks and Spencer
  • Lot 7
  • Auction 23rd October 2014
  • Rent
  • Status Sold
  • Price £955,000
  • Sector
    High Street Retail
  • Auction Venue
    The Millennium Hotel
    44 Grosvenor Square
    London W1K 2HP
  • On Belhalf of Joint LPA Receivers Zolfo Cooper

Property Information

Location
Miles
17 miles south of Central London, 8 miles south-east of Kingston upon Thames
Roads
A232, A217, M25 (Junction 8), M23 (Junction 8), M3
Rail
Banstead Railway Station
Air
London Gatwick, London City, London Heathrow
Situation

The property is located in Banstead town centre, an affluent Surrey commuter town some 5 miles north of Junction 8 of the M25. The property is situated on the northern side of High Street, close to its junctions with Wilmot Way and Wingfield Court. Nearby occupiers include Caffé Nero, Halifax, Lloyds Pharmacy, Pizza Express, Prezzo and Marks and Spencer.

Tenure

Freehold.

Location
Miles
17 miles south of Central London, 8 miles south-east of Kingston upon Thames
Roads
A232, A217, M25 (Junction 8), M23 (Junction 8), M3
Rail
Banstead Railway Station
Air
London Gatwick, London City, London Heathrow
Situation

The property is located in Banstead town centre, an affluent Surrey commuter town some 5 miles north of Junction 8 of the M25. The property is situated on the northern side of High Street, close to its junctions with Wilmot Way and Wingfield Court. Nearby occupiers include Caffé Nero, Halifax, Lloyds Pharmacy, Pizza Express, Prezzo and Marks and Spencer.

Tenure

Freehold.

Description

The property comprises four ground floor retail units, one of which has been let on a long lease, with residential upper floors which have also been let on long leases.

Note:
This property is being marketed for sale on behalf of Joint Law of Property Act Receivers and therefore no warranties or guarantees in any respect, including VAT, can be given. The information in these particulars has been provided by the Joint Law of Property Act Receivers to the best of their knowledge but the purchaser must rely solely upon their own enquiries. The Joint Law of Property Act Receivers are not bound to accept the highest or any offer and are acting in respect of this sale without personal liability.

VAT

VAT is applicable to this lot.

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Description

The property comprises four ground floor retail units, one of which has been let on a long lease, with residential upper floors which have also been let on long leases.

Note:
This property is being marketed for sale on behalf of Joint Law of Property Act Receivers and therefore no warranties or guarantees in any respect, including VAT, can be given. The information in these particulars has been provided by the Joint Law of Property Act Receivers to the best of their knowledge but the purchaser must rely solely upon their own enquiries. The Joint Law of Property Act Receivers are not bound to accept the highest or any offer and are acting in respect of this sale without personal liability.

VAT

VAT is applicable to this lot.

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Tenancy & Accommodation

Unit Floor Use Floor Areas (Approx) Tenant Term Rent p.a.x Reviews/(Reversion)
29 Ground Retail
158.10 sq m
(1,702 sq ft)
J G WOODWARD (t/a
Woodward Menswear) (1)
10 years from 29/09/2007 £34,600 (28/09/2017)
31 Ground Retail
105.22 sq m
(1,133 sq ft)
INDIVIDUAL
(t/a Williams Harlow
Estate Agent) (2)
999 years from 23/06/2014 Peppercorn (22/06/3013)
33 Ground Retail
87.40 sq m
(941 sq ft)
CORAL ESTATES LTD (3)
(t/a Coral Betting Shop)
10 years from October 2014 (4) £31,600 October 2018
(October 2024)
35 Ground Retail
77.12 sq m
(830 sq ft)
CAMPBELLS OF
BANSTEAD LIMITED (5)
10 years from 05/09/2013 £25,000 05/09/2018 (04/09/2023)
Eight Flats First/Second Residential
-
-
INDIVIDUALS 8 separate leases for 125 years from
25/03/2002 (6)
£1,000 (7) 25/03/2035 (24/03/2127)
Totals
427.84 sq m
(4,606 sq ft)
   
£92,200

(1) Woodward Menswear is a men’s outfitters committed to providing the highest quality clothing.
(2) Williams Harlow Estate Agents were established in 1990 and are a leading independent firm of estate agents with offices in Banstead and Cheam Villages.
(Source: www.williamsharlow.co.uk 26/09/2014)
(3) Coral is the third largest retail bookmaking business in the UK with a market share of approximately 20%. (Source: www.coral.co.uk 26/09/2014)
(4) The current lease to Coral Estates Limited is for a term of 10 years from 25/12/2005. A new 10 year lease, detailed in the schedule above, has been agreed and is
due to complete imminently. The new lease will provide a four month rent free period due to expire February 2015. The seller has agreed to adjust the
completion monies so that the unit will effectively produce £31,600 p.a.x. from completion of the sale.
(5) Campbells of Banstead offer jewellery, silver jewellery, wedding jewellery, wedding rings, bracelets, necklaces and engagement rings.
(6) The seller has served notices on the residential lessees under Section 5B of the Landlord and Tenant Act 1987.
(7) Each residential lease has a rental income of £125 p.a.x.

Property Documents

  • Site Plan
    Updated Date
    01.10.14
    File Size
    81 KB
    View PDF
  • Catalogue Page
    Updated Date
    01.10.14
    File Size
    2 MB
    View PDF
  • Common Auction conditions
    Updated Date
    10.06.21
    File Size
    168 KB
    View PDF
  • Memorandum of Sale
    Updated Date
    27.03.17
    File Size
    27 KB
    View PDF

Contacts

Acuitus
Henry WilkinsonHenry Wilkinson +44 (0)20 7034 4861 Henry.wilkinson@acuitus.co.uk
Seller's Solicitors
Hill Dickinson 50 Fountain Street
Manchester
M2 2AS
Sally Anyon 0161 817 7200sally.anyon@hilldickinson.com

Useful Links

Acuitus Finance
Stuart BuchananStuart Buchanan +44 (0)20 7034 4850 +44 (0)7879 432868stuart.buchanan@acuitus.co.uk

By clicking the Submit button I confirm that I would like to register my interest in this Property. Please email me updates when they are published.

If you have a query, please fill in the box below, otherwise click the Submit button.

You have 200 character(s) left.

Are you sure you want to remove this property from My Catalogue?

Are you sure you are no longer interested in this property?

Are you sure you want to delete your Account?

Making the buying and selling of property a seamless experience
Everything you need to know whether you are a buyer or sellerHelp Centre
How can Acuitus Finance help you with bridging finance
How can Acuitus Finance help you with bridging financeObtain bridging finance now