Cleary Court 169 Church Street East Woking Surrey GU21 6HJ

Cleary Court
169 Church Street East
Woking
Surrey
GU21 6HJ

Freehold Retail & Office Investment in Town Centre Location

  • Well let modern office and retail space
  • Potential to convert upper floors to residential accommodation (subject to leases and consents)
  • Within walking distance of Woking Railway Station and The Peacocks Shopping Centre
  • Nearby occupiers include BHS, Starbucks, Barclays Bank & Pret A Manger
  • Lot
    13
  • Auction
    23rd October 2014
  • Rent
    £223,451 per Annum Exclusive
  • Status
    Withdrawn Prior
  • Price
     
  • Sector
    High Street Retail
  • Auction Venue
    The Millennium Hotel
    44 Grosvenor Square
    London W1K 2HP
Important Update
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* More information on the term "guide" can be found here

Freehold Retail & Office Investment in Town Centre Location

  • Well let modern office and retail space
  • Potential to convert upper floors to residential accommodation (subject to leases and consents)
  • Within walking distance of Woking Railway Station and The Peacocks Shopping Centre
  • Nearby occupiers include BHS, Starbucks, Barclays Bank & Pret A Manger
  • Lot 13
  • Auction 23rd October 2014
  • Rent
  • Status Withdrawn Prior
  • Price  
  • Sector
    High Street Retail
  • Auction Venue
    The Millennium Hotel
    44 Grosvenor Square
    London W1K 2HP

Property Information

Location
Miles
7 miles north of Guildford
23 miles south-west of Central London
Roads
A320, A3, M25 (Junction 10/11), M3 (Junction 3)
Rail
Woking Railway Station (approximately 30 minutes to London Waterloo)
Air
London Heathrow Airport, London Gatwick Airport
Situation

The property is situated in a prominent corner position on the north side of Church Street East at its junction with Chobham Road. The property benefits from its close proximity to numerous shops, restaurants and Woking Rail Station.

Tenure

Freehold.

Location
Miles
7 miles north of Guildford
23 miles south-west of Central London
Roads
A320, A3, M25 (Junction 10/11), M3 (Junction 3)
Rail
Woking Railway Station (approximately 30 minutes to London Waterloo)
Air
London Heathrow Airport, London Gatwick Airport
Situation

The property is situated in a prominent corner position on the north side of Church Street East at its junction with Chobham Road. The property benefits from its close proximity to numerous shops, restaurants and Woking Rail Station.

Tenure

Freehold.

Description

The property comprises five ground floor retail units with self-contained offices on the first, second and third floors. The property also benefits from three parking spaces and a lift that services all floors.

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 five ground floor retail units with self-contained offices on the first, second and third floors. The property also benefits from three parking spaces and a lift that services all floors.

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 Reviews/(Reversion)
Ground
(Unit 1)
Retail
47.38 sq m
(510 sq ft)
B J PATEL & K J PATEL
(t/a Terry’s Newsagent)
Approx. 6 years & 3 months from
24/06/2014
£16,000 (1) (28/09/2020)
Ground
(Unit 2)
Retail
53.98 sq m
(581 sq ft)
P GADIM 5 years from completion of the lease (2) (3) £12,000 (4) 2017 (2019)
Ground
(Unit 3)
Retail
53.70 sq m
(578 sq ft)
GAMES WORKSHOP LIMITED (5) 10 years from 29/04/2009 £15,000 (28/04/2019)
Ground
(Unit 4)
Retail
75.53 sq m
(813 sq ft)
A & H IMAGES LTD (t/a Images Hair) 10 years from 24/06/2009 £22,250 24/06/2014 (23/06/2019)
Ground
(Unit 4A)
Retail
40.69 sq m
(438 sq ft)
L A ALIGHIERI & G VALENTINO
(t/a Rino’s Hair)
10 years from 24/06/2010 (6) £12,000 24/06/2015 (24/06/2020)
First
(Suites 1 & 2)
Office
202.99 sq m
(2,185 sq ft)
BLACKFORDS LLP 10 years from 16/05/2012 (7) £32,500 16/05/2017 (15/05/2022)
First (Suite 3) Office
165.37 sq m
(1,780 sq ft)
PRINCIPAL CHOICE LIMITED 5 years from 18/08/2014 (8) £17,800 (9) (17/08/2019)
First (Suite 4) Office
52.58 sq m
(566 sq ft)
IBSECAD LIMITED 3 years from completion of the lease (10) £6,226 (2017)
Second
(Suite 3)
Office
269.23 sq m
(2,898 sq ft)
MORRISONS SOLICITORS LLP 10 years from 15/10/2010 (11) £43,470 15/10/2015 (14/10/2020)
Second
(Suite A)
Office
58.16 sq m
(626 sq ft)
BUILDING LABOUR & TRADES LIMITED 5 years from 30/07/2014 (12) £9,390 (29/07/2019)
Second
(Suite B)
Office
60.29 sq m
(649 sq ft)
ALTITUDE AVIATION ADVISORY
LIMITED
5 years from 18/08/2014 (13) £9,735 (14) (17/08/2019)
Third
(Suite 6)
Office
442.77 sq m
(4,766 sq ft)
KCA (UK) 5 years from 20/08/2010 (15) £23,830 (19/08/2015)
2 Car Spaces  
MORRISONS SOLICITORS LLP Licence due to complete (16) £3,250  
Totals  
1,522.67 sq m
(16,390 sq ft)
    £223,451 (2, 10 & 16)

(1) The tenant provided a rent deposit of £5,581.25. The tenant will provide a 6 month rent deposit.
(2) Documents are agreed and engrossments for signature have been issued.
(3) The lease provides for a tenant’s option to determine at the end of the 2nd & 3rd years, subject to 6 months’ prior written notice.
(4) The rent is subject to fixed rental increases on the anniversary of the term in 2015 to £13,000 p.a.x and in 2016 to £14,000 p.a.x.
(5) For the year ending 2nd June 2013, Games Workshop Limited reported a turnover of £91,499,000, pre-tax profits of £23,218,000 and a total net worth of
£25,215,000. (Source: www.riskdisk.com 19/09/2014)
(6) The lease provides for a tenant’s option to determine on 24th June 2015, subject to 6 months’ prior written notice.
(7) The lease provides for a tenant’s option to determine on 16th May 2017, subject to 6 months’ prior written notice.
(8) The lease provides for a tenant’s option to determine on 17/02/15 and 17/02/17 subject to 1 & 6 months’ prior written notice respectively.
(9) The tenant provided a rent deposit of £5,340 simultaneously to completing the lease.
(10) The lease is currently under offer. The lease provides for a tenant’s option to determine at the second anniversary and a three month rent free period.
(11) The lease provides for a tenant’s option to determine on 15th October 2016, subject to 6 months’ prior written notice.
(12) The lease provides for a tenant’s option to determine on 29/01/16 and 29/07/17 on 6 & 5 months’ notice respectively. Should the tenant exercise the first break clause it will pay 3 months rent penalty. Should the tenant not exercise the second break option then it will benefit from a further 3 months rent free.
(13) The lease provides for a tenant’s option to determine on 17th August 2017, subject to 6 months’ prior written notice.
(14)At completion of the lease the tenant provided a rental deposit of £5,841.
(15) The lease to KCA (UK) includes a right to use 1 car parking space.
(16) The licence is due to complete imminently.

Property Documents

  • Catalogue Page
    Updated Date
    01.10.14
    File Size
    786 KB
    View PDF
  • Site Plan
    Updated Date
    01.10.14
    File Size
    123 KB
    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

Seller's Solicitors
Spratt Endicott 52-54 The Green
Banbury
Oxfordshire
OX16 9AB
Graham Roberts 01295 204 145groberts@se-law.co.uk

Useful Links

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

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