Let to Ryness Electrical Supplies Limited with a guarantee from Newbury Investments (UK) Limited
New 10 year lease expiring in 2027 (subject to option)
Located in the established Farnham Trading Estate
Nearby occupiers include Kwik Fit, Jewson and Sainsbury's Supermarket
For the Seller's Legal Pack, please click the Property Documents tab below
Lot 2
Auction 25th May 2017
Rent £38,000 per Annum Exclusive
Status Sold
Price £466,000
Sector Trade Counter
Auction Venue The Radisson Blu Portman Hotel 22 Portman Square London W1H 7BG
On Behalf of Administrators BDO
Property Information
Location
Miles
7 miles south of Farnborough, 9 miles west of Guildford, 40 miles south-west of Central London
Roads
A3, A31, A287, A325, M3
Rail
Farnham Railway Station
Air
Heathrow Airport, Gatwick Airport
Situation
The property is situated in the established Farnham Trading Estate, which lies to the north of the A31 Guildford Road and less than a mile from Farnham town centre. Other occupiers on the estate include Kwik Fit, Furniture Solutions and Farnham Honda Motorcycles, with Sainsbury's Supermarket and Jewson also located nearby.
Tenure
Long Leasehold. Held from Waverley Borough Council for a term of 150 years from 25th December 1986 at a current rent of £1,000 per annum, next reviewed on 24th December 2021 and every five calendar years thereafter.
Location
Miles
7 miles south of Farnborough, 9 miles west of Guildford, 40 miles south-west of Central London
Roads
A3, A31, A287, A325, M3
Rail
Farnham Railway Station
Air
Heathrow Airport, Gatwick Airport
Situation
The property is situated in the established Farnham Trading Estate, which lies to the north of the A31 Guildford Road and less than a mile from Farnham town centre. Other occupiers on the estate include Kwik Fit, Furniture Solutions and Farnham Honda Motorcycles, with Sainsbury's Supermarket and Jewson also located nearby.
Tenure
Long Leasehold. Held from Waverley Borough Council for a term of 150 years from 25th December 1986 at a current rent of £1,000 per annum, next reviewed on 24th December 2021 and every five calendar years thereafter.
Description
The property comprises a trade counter unit arranged on the ground floor only. There is customer parking to the front of the property.
VAT
VAT is applicable to this lot.
Note
This property is being marketed for sale on behalf of the Joint Administrators Kerry Franchina Bailey and Sarah Megan Rayment, both of BDO LLP, 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 Administrators to the best of their knowledge, but the purchaser must rely solely upon their own enquiries. The Joint Administrators are not bound to accept the highest or any offer and are acting in respect of this sale without personal liability.
Completion Period
Six Week Completion
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property comprises a trade counter unit arranged on the ground floor only. There is customer parking to the front of the property.
VAT
VAT is applicable to this lot.
Note
This property is being marketed for sale on behalf of the Joint Administrators Kerry Franchina Bailey and Sarah Megan Rayment, both of BDO LLP, 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 Administrators to the best of their knowledge, but the purchaser must rely solely upon their own enquiries. The Joint Administrators are not bound to accept the highest or any offer and are acting in respect of this sale without personal liability.
Completion Period
Six Week Completion
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Tenancy & Accommodation
Floor
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x
Review
Ground
Trade Counter
384.00 sq m
(4,133 sq ft)
RYNESS ELECTRICAL SUPPLIES LIMITED (1) with guarantee from Newbury Investments (UK) Limited t/a QVS (2)
10 year lease from 18/04/2017 until 17/04/2027 (3) on a full repairing and insuring lease (4)
£38,000
18/04/2022
Total
384.00 sq m
(4,133 sq ft)
£38,000
(1) Ryness have been selling bulbs, lighting and electrical goods for more than 50 years, having opened their first store in Goodge Street in 1961. (Source: www.ryness.co.uk 20/04/2017). QVS are a subsidiary of Newbury Investments (UK) Limited. QVS operate 12 stores across the UK and a successful e-commerce website. (Source: qvsdirect.com 02/05/2017). (2) For the year ending 31st December 2015, Newbury Investments (UK) Limited reported a turnover of £509,817,000, pre-tax profits of £20,626,000 and a total net worth of £121,700,000 (Source: Experian Group 20/04/2017). The guarantee is for the first 5 years of the term only. (3) The lease is subject to a tenant option to determine on the 6th anniversary of the lease commencement, subject to six months’ prior written notice. (4) The lease is subject to a Schedule of Condition.
