11/12 Middle Street and 3 & 3a The Carfax Horsham Sussex RH12 1NW

11/12 Middle Street
and 3 & 3a The Carfax
Horsham
Sussex
RH12 1NW

Retail Investment in Affluent Commuter Market Town

Entirely let to Non-Stop Party Shop on a 15 year lease
Prominent position on pedestrianised retail thoroughfare
Nearby occupiers include Barclays Bank, Rymans Stationers, Timpson and Laura Ashley
Rent: £43,500 per annum exclusive (gross), £19,612 per annum exclusive (net)
On behalf of Robert Dyas

Lot
3
Auction
21st October 2010
Rent
£43,500 per Annum Exclusive
Status
Withdrawn Post
Price
Auction Venue
Millennium Hotel
39-44 Grosvenor Square
Mayfair
London W1K 2HP

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Retail Investment in Affluent Commuter Market Town

Entirely let to Non-Stop Party Shop on a 15 year lease
Prominent position on pedestrianised retail thoroughfare
Nearby occupiers include Barclays Bank, Rymans Stationers, Timpson and Laura Ashley
Rent: £43,500 per annum exclusive (gross), £19,612 per annum exclusive (net)
On behalf of Robert Dyas

Lot 3
Auction 21st October 2010
Rent £43,500 per Annum Exclusive
Status Withdrawn Post
Price
Sector
High Street Retail
Auction Venue
Millennium Hotel
39-44 Grosvenor Square
Mayfair
London W1K 2HP

Property Information

Location

Estimated District Population: 122,088
Miles: 16 miles south-west of Gatwick Airport, 21 miles south-east of Guildford; 38 miles south of London
Roads: A24, M23 (Junction 11), M25
Rail: Horsham Railway Station (54 minutes to London Victoria
Air: Gatwick Airport

Situation

The property is situated on the north side of Middle Street and south side of Carfax just moments from West Street, one of Horsham's prime pedestrianised retail thoroughfares. Nearby occupiers include Barclays Bank, Rymans Stationers, Timpson Shoe Repairs and Laura Ashley.

Tenure

Long Leasehold. Held by Riverdance Ltd (formerly Robert Dyas Ltd) for a term of 120 years from 10th June 1969 until 9th June 2089 at a rent of £23,888 p.a.x. The rent is reviewed every 14 years to 65% of open market rental value with the next review being 10th June 2011.

Location

Estimated District Population: 122,088
Miles: 16 miles south-west of Gatwick Airport, 21 miles south-east of Guildford; 38 miles south of London
Roads: A24, M23 (Junction 11), M25
Rail: Horsham Railway Station (54 minutes to London Victoria
Air: Gatwick Airport

Situation

Tenure

Description

The property, with frontage to both Middle Street and Carfax, comprises RETAIL ACCOMMODATION on ground and part first floor with STORAGE on the remaining first floor. The property also benefits from additional ANCILLARY ACCOMMODATION on the second floor.

VAT

VAT is not applicable to this lot.

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Description

VAT

VAT is not 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	Gross Rent p.a.x	Reviews/(Reversion)
Ground First Second	Retail Retail/Storage Ancillary	144.09 sq m 147.99 sq m 57.04 sq m	(1,551 sq ft) (1,593 sq ft) (614 sq ft)	NON-STOP PARTY SHOP LTD (1)	15 years from 13/11/2000 on a full repairing and insuring lease (2)	£43,500 (3)	13/11/2010 (12/11/2015)
Totals		349.12 sq m	(3,758 sq ft)			£43,500

(1) Established in 1988, Non-Stop Party Shop is one of the biggest and best known party stores in the South of England and operate from five stores in London, Surrey and Sussex. (Source: www.nonstopparty.co.uk 13/09/2010)(2) Please note that the lease is subject to exclusions and a limited schedule of condition.(3) The current gross rental income is £43,500 p.a.x. Therefore, the current net rental income after allowing for the head rent payable is £19,612 p.a.x.