19 Market Place
Kingston upon Thames
Surrey
KT1 1JP

Freehold Retail Investment

  • Let to Reiss Limited on a recently renewed 10 year lease (no breaks)
  • Affluent South West London university town some 11 miles from Central London
  • Prominent corner position on the pedestrianised Market Place
  • Nearby occupiers include Cath Kidston, Whistles, Lush and Jack Wills
  • Lot
    7
  • Auction
    19/Oct/2017
  • Rent
    £119,500 per Annum Exclusive
  • Status
    Sold
  • Price*
    £2,475,000
  • Sector
    High Street Retail
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG
  • On behalf of Barts Charity
Important Property Update
  • 19 Market Place<br>Kingston upon Thames<br>Surrey<br>KT1 1JP
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Property Information

Location
Miles
11 miles south-west of Central London, 4 miles south of Richmond, 7 miles south-west of Clapham
Roads
A3, A307
Rail
Kingston Railway Station, Hampton Wick Railway Station
Air
London Heathrow Airport, London Gatwick Airport, London City Airport
Situation

Royal Kingston upon Thames is an affluent South West London suburb some four miles south of Richmond. The town benefits from being a major regional shopping destination and a university town. The property is located in Market Place where traditional markets are held six days a week. Nearby occupiers include Cath Kidston, Whistles, Lush and Jack Wills.

Tenure

Freehold.

Description

The property comprises a ground floor retail unit with first floor sales and second floor ancillary accommodation. The property benefits from return frontage. The tenant also occupies the adjoining property, which does not form part of the sale, and has created internal access between the two properties. The customer staircase connecting ground and first floors is located within the subject property’s demise.

VAT

VAT is applicable to this lot.

Completion Period

Six Week Completion

Buyer's Legal Report

For the ease and convenience of prospective buyers,to speed up the process of investigating a possible purchase and to minimise the legal costs an independent legal title report is advisable. For more information, please click here.

Tenancy & Accomodation

FloorUseFloor Areas (Approx)TenantTermRent p.a.xReview
Ground
First
Second
Retail
Retail
Ancillary
78.13 sq m
66.89 sq m
66.33 sq m
(841 sq ft)
(720 sq ft)
(714 sq ft)
REISS LIMITED (1)10 years from
21/07/2017 until
20/07/2027
£119,500 (2)21/07/2022
Total
211.35 sq m
(2,275 sq ft)
  £119,500 

(1) For the year ending 31st January 2016, Reiss Limited reported a turnover of £124,367,000, pre-tax profits of £17,822,000 and a total net worth of £32,247,000 (Source: Experian Group 18/08/2017). REISS has 135 stores globally (with over 80 in the UK), including shops in the United States, Ireland, United Arab Emirates, Hong Kong, Philippines, Holland, Russia and Canada (Source: www.reiss.com 04/09/2017).
(2) For the purposes of clarification, Reiss Limited is currently benefitting from a rent free period due to expire on 07/12/2017. The seller has agreed to adjust the completion monies so that the unit will effectively produce £119,500 p.a.x. from completion of the sale.

Property Documents

  • Site Plan
    Updated Date
    26.09.17
    File Size
    3 MB
    View PDF
  • Catalogue Page
    Updated Date
    27.09.17
    File Size
    2 MB
    View PDF
  • Common Auction conditions
    Updated Date
    27.03.17
    File Size
    124 KB
    View PDF
  • Memorandum of Sale
    Updated Date
    27.03.17
    File Size
    27 KB
    View PDF

Contacts

Acuitus
Gwen ThomasGwen Thomas +44 (0)20 7034 4857 +44 (0)7809 363549gwen.thomas@acuitus.co.uk
Georgina RobertsGeorgina Roberts +44 (0)20 7034 4863georgina.roberts@acuitus.co.uk
Associate Auctioneers
Gryphon Property Partners 12 Austin Friars
London
EC2N 2HE
Colin Hargreaves 0203 440 9804colin.hargreaves@gryphonpropertypartners.com
Seller's Solicitors
Taylor Wessing LLP 5 New Street Square
London
EC4A 3TW
Hanna Ross 0207 300 7154h.ross@taylorwessing.com

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