Phoenix Plaza Guildford Street Chertsey Surrey KT16 9GT

Phoenix Plaza
Guildford Street
Chertsey
Surrey
KT16 9GT

Five retail units including one with vacant possession
Within popular Phoenix Development
Affluent commuter town
Prime location 60 metres from Chertsey Railway Station (approx. 52 mins to Central London)
Buyer's Legal Report available <a href="/media/32613/buyers legal report v4.pdf" target="_blank" title="Buyers legal report available">here</a>

Lot
40
Auction
21st May 2015
Rent
£104,000 per Annum Exclusive
Status
Sold
Price
£850,000
Auction Venue
Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG

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Five retail units including one with vacant possession
Within popular Phoenix Development
Affluent commuter town
Prime location 60 metres from Chertsey Railway Station (approx. 52 mins to Central London)
Buyer's Legal Report available <a href="/media/32613/buyers legal report v4.pdf" target="_blank" title="Buyers legal report available">here</a>

Lot 40
Auction 21st May 2015
Rent £104,000 per Annum Exclusive
Status Sold
Price £850,000
Sector
High Street Retail
Auction Venue
Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG

Property Information

Location

Miles: 12 miles north of Guildford; 20 miles south-west of Central London
Roads: A320, M25 (Junction 12), M3 (Junction 2)
Rail: Chertsey (approx. 52 mins to London Waterloo)
Air: London Heathrow, London Gatwick

Situation

The property is located within the affluent commuter town of Chertsey, in a prime position some 60 metres from Chertsey Railway Station. The units, located on the northern side of South Guildford Street, at its junction with Pyrcroft Road, forms part of the modern Phoenix Development which also provides 93 residential units and office accommodation completed in 2005.

Tenure

Long Leasehold. Units 1a&1b, 1c and 3 are held long leasehold for a term of 250 years from 1st January 2005 at a peppercorn rent. Unit 2 is held virtual freehold for a term of 999 years from 1st January 2005 at a peppercorn rent.

Location

Miles: 12 miles north of Guildford; 20 miles south-west of Central London
Roads: A320, M25 (Junction 12), M3 (Junction 2)
Rail: Chertsey (approx. 52 mins to London Waterloo)
Air: London Heathrow, London Gatwick

Situation

Tenure

Description

The property comprises five ground floor restaurant and retail units
arranged around a central courtyard. Units 1a & b, 1c and 3 form the
ground floors of larger buildings whilst Unit 2 is a standalone circular building.

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 available here.

VAT

VAT is applicable to this lot.

EPC

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

Description

VAT

VAT is applicable to this lot.

EPC

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

Tenancy & Accommodation

Unit	Floor	Use	Floor Areas (Approx)		Tenant	Term	Rent p.a.x.	Reviews
1a & 1b	Ground	Retail	378 sq m	(4,074 sq ft)	INDIVIDUAL (t/a Caspari Italian Restaurant)	15 years from 10/08/2007 until 09/08/2022	£40,000	10/08/2017
1c	Ground	Retail	107 sq m	(1,147 sq ft)	SUBWAY REALTY LIMITED (1)	15 years from 31/01/2007 until 30/01/2022	£29,000	31/01/2017
2	Ground	Retail	293 sq m	(3,152 sq ft)	INDIVIDUALS (t/a INDOS Indian Restaurant)	20 years from 15/11/2010 until 14/11/2030	£25,000	15/11/2015 and five yearly
3	Ground	Retail	82 sq m	(888 sq ft)	VACANT POSSESSION WITH SELLER GUARANTEE (2)		£10,000
Totals			860 sq m	(9,261 sq ft)			£104,000

(1) For the year ending 31st December 2013, Subway Realty Limited reported a turnover of £28,059,353, pre-tax profits of £1,457,251 and a total net worth of £1,632,387. (Source: www.riskdisk.com 24/04/2015)
(2)The seller will provide a one year rental guarantee of £10,000 from completion of the sale.