Entirely let to WH Smith Retail Holdings Limited with guarantee t/a British Bookshops & Stationers
Lease expires 2026 (subject to option)
Prominent High Street location in affluent Sussex town
Nearby occupiers include Costa, Boots, WH Smith, Waitrose and Morrisons supermarkets
Lot 11
Auction 13th July 2017
Rent
Status Sold
Price £295,000
Sector High Street Retail
Auction Venue The Radisson Blu Portman Hotel 22 Portman Square London W1H 7BG
Property Information
Location
Miles
7 miles south-west of Royal Tunbridge Wells, 23 miles north-east of Brighton
Roads
A22, A26, M23, M25
Rail
Crowborough Railway Station
Air
London Gatwick Airport
Situation
Crowborough is an affluent commuter town situated on the A26 between Royal Tunbridge Wells and Brighton. The property is prominently situated on the east side of the High Street, in the heart of the town centre. The property is situated close to Waitrose and Morrisons supermakets, with other nearby occupiers including Costa, Boots and WH Smith.
Tenure
Freehold.
Location
Miles
7 miles south-west of Royal Tunbridge Wells, 23 miles north-east of Brighton
Roads
A22, A26, M23, M25
Rail
Crowborough Railway Station
Air
London Gatwick Airport
Situation
Crowborough is an affluent commuter town situated on the A26 between Royal Tunbridge Wells and Brighton. The property is prominently situated on the east side of the High Street, in the heart of the town centre. The property is situated close to Waitrose and Morrisons supermakets, with other nearby occupiers including Costa, Boots and WH Smith.
Tenure
Freehold.
Description
The property comprises ground floor retail accommodation with ancillary accommodation in the basement. The first and second floors comprise two self-contained residential flats sublet on long leases.
VAT
VAT is applicable to this lot.
Completion Period
Six Week Completion
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property comprises ground floor retail accommodation with ancillary accommodation in the basement. The first and second floors comprise two self-contained residential flats sublet on long leases.
VAT
VAT is applicable to this lot.
Completion Period
Six Week Completion
EPC
The EPC will be available to view online in the solicitor’s legal pack.
WH SMITH RETAIL HOLDINGS LIMITED (1) GUARANTEED BY WH SMITH HIGH STREET HOLDINGS LIMITED (2) t/a British Bookshops & Stationers
15 years from 25/10/2011 (3)
£21,200
25/10/2021 (24/10/2026)
Total Commercial Area
183.84 sq m
(1,979 sq ft)
£21,200
(1) For the year ending 31st August 2016, WH Smith Retail Holdings Limited reported a turnover of £175,131,000, pre-tax profits of £75,302,000 and a total net worth of £461,234,000 (Source: Experian Group 14/06/2017). (2) For the year ending 31st August 2014, WH Smith High Street Holdings Limited reported pre-tax profits of £36,304,000 and a total net worth of £104,548,000 (Source: Experian Group 14/06/2017). (3) The lease is subject to a tenant option to determine on 25th October 2021. (4) The residential flats have been sublet on long leases each for a term of 125 years from 2002 at a rent of £100 per annum.