Attractive Freehold Modern Office and Residential Investment
Well located in town centre close to station
Affluent Surrey town close to A24 & A3 within M25
405.5 sq m (4,365 sq ft) approx. with car parking
Potential for residential conversion subject to the necessary consents
Lot 25
Auction 23rd October 2014
Rent £68,132 per Annum Exclusive
Status Sold
Price £925,000
Sector Office
Auction Venue The Millennium Hotel 44 Grosvenor Square London W1K 2HP
Property Information
Location
Miles
14 miles south-west of Central London
6 miles south-west of Kingston upon Thames
Roads
A3, A24, M25 (Junction 9)
Rail
Epsom Railway Station (36 mins. Direct to Waterloo)
Air
London Heathrow Airport, London Gatwick Airport
Situation
The property is well located in the town centre of this popular and affluent Surrey commuter town at the junction of East Street and Adelphi Road some 400m from Epsom Railway Station and a short walk to The Ashley Shopping Centre. The immediate area comprises mainly residential and office buildings with retail on High Street close by.
Tenure
Freehold.
Location
Miles
14 miles south-west of Central London
6 miles south-west of Kingston upon Thames
Roads
A3, A24, M25 (Junction 9)
Rail
Epsom Railway Station (36 mins. Direct to Waterloo)
Air
London Heathrow Airport, London Gatwick Airport
Situation
The property is well located in the town centre of this popular and affluent Surrey commuter town at the junction of East Street and Adelphi Road some 400m from Epsom Railway Station and a short walk to The Ashley Shopping Centre. The immediate area comprises mainly residential and office buildings with retail on High Street close by.
Tenure
Freehold.
Description
The property comprises a modern, purpose built office building constructed circa 1990 arranged on basement, ground and two upper floors. The office accommodation benefits from raised floors, suspended ceilings with Cat II lighting, central heating and perimeter trunking. There is an eight person passenger lift. There is undercroft parking for approximately four cars. In addition, there is a self-contained one double bedroom maisonette within a detached two storey building to the rear.
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 a modern, purpose built office building constructed circa 1990 arranged on basement, ground and two upper floors. The office accommodation benefits from raised floors, suspended ceilings with Cat II lighting, central heating and perimeter trunking. There is an eight person passenger lift. There is undercroft parking for approximately four cars. In addition, there is a self-contained one double bedroom maisonette within a detached two storey building to the rear.
VAT
VAT is applicable to this lot.
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/(Reversion)
Basement (part)
Storage/Ancillary
77.7 sq m
(836 sq ft)
VACANT POSSESSION
Basement (part)
Storage/Ancillary
30.1 sq m
(324 sq ft)
BRIDGER BELL COMMERCIAL LLP
3 years from 26/05/2013 (1) (2)
£4,250
(25/05/2016)
Ground
Offices
110.5 sq m
(1,189 sq ft)
COMMS MULTILINGUAL LIMITED
5 years from 24/03/2011 (2)
£20,450
(23/03/2016)
First
Offices
128.1 sq m
(1,379 sq ft)
PRO PUBLICATIONS INTERNATIONAL LIMITED
5 years from 10/11/2012 (2) (3)
£18,000
09/11/2016
Second
Offices
112.8 sq m
(1,215 sq ft)
ESSENTIALNET LIMITED
5 years from 23/12/2013 (2)
£16,432 (4)
(23/12/2018)
Stable Block
Residential Maisonette
55.4 sq m
(596 sq ft)
AN INDIVIDUAL
1 year Assured Shorthold Tenancy from 03/03/2014
£9,000
(02/03/2015)
Totals
514.6 sq m
(5,539 sq ft)
£68,132
(1) As to the lease on the basement there is a rolling mutual option to determine upon 6 months’ notice. (2)The lease is outside the security provisions of the Landlord & Tenant Act. (3) As to the first floor lease there is an option to determine the lease on 10th May 2016. (4) The current rent reserved under the lease is £10,690 p.a.x. The lease provides for a rental increase to £13,904 p.a.x. on 23rd December 2014, £15,168 p.a.x on 23rd December 2015 and £16,432 p.a.x. on 23rd December 2016. The seller wil pay the difference between the current rent reserved and £16,432 p.a.x. on completion of the sale such that the property will effectively produce £16,432 p.a.x. from completion of the sale.
