Retail unit let until 2024 with guarantee (no breaks)
Prime location on pedestrianised High Street
Located opposite the St Nicholas Shopping Centre
Nearby occupiers include Marks & Spencer, Topshop, Santander, Superdrug and Vision Express
For the Seller's Legal Pack, please click the Property Documents tab below
Lot 3
Auction 23rd March 2016
Rent £30,000 per Annum Exclusive
Status Sold Prior
Price
Sector High Street Retail
Auction Venue The Millennium Hotel 44 Grosvenor Square London W1K 2HP
On Behalf of a Major Fund Manager
Property Information
Location
Miles
4.6 miles south of Wimbledon, 7 miles west of Croydon, 12 miles south of Central London
Roads
A232, A217, M25, M23
Rail
Sutton (Surrey) Rail
Air
London Gatwick Airport
Situation
Sutton is located within the London Borough of Sutton and is located 4.6 miles south of Wimbledon and 7 miles west of Croydon. The property is situated on the eastern side of the High Street, opposite the St Nicholas Shopping Centre which houses retailers including Debenhams, Primark, Next and New Look. Other nearby occupiers include Marks & Spencer, Topshop, Santander, Superrug and Vision Express.
Tenure
Freehold.
Location
Miles
4.6 miles south of Wimbledon, 7 miles west of Croydon, 12 miles south of Central London
Roads
A232, A217, M25, M23
Rail
Sutton (Surrey) Rail
Air
London Gatwick Airport
Situation
Sutton is located within the London Borough of Sutton and is located 4.6 miles south of Wimbledon and 7 miles west of Croydon. The property is situated on the eastern side of the High Street, opposite the St Nicholas Shopping Centre which houses retailers including Debenhams, Primark, Next and New Look. Other nearby occupiers include Marks & Spencer, Topshop, Santander, Superrug and Vision Express.
Tenure
Freehold.
Description
The property comprises a ground floor retail unit with a self contained three bedroom maisonette on the upper floors, let on a long lease.
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 a ground floor retail unit with a self contained three bedroom maisonette on the upper floors, let on a long lease.
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
Review/(Reversion)
Ground
Retail
62.15 sq m
(668.98 sq ft)
CHARLES BIRCH (SCOTLAND) LIMITED (t/a Shoe Care) (1) GUARANTEED BY CHARLES BIRCH LIMITED (2)
10 years from 04/11/2014 until 03/11/2024 on a full repairing and insuring lease
£30,000 (3)
04/11/2019
First & Second
Residential
Three Bedroom Maisonette
–
130 year lease from completion
Peppercorn
(2146)
Totals
62.15 sq m
(668.98 sq ft)
£30,000
(1) Shoe Care provides shoe repair and key cutting services and currently trades from 58 shops, with more openings planned in the near future. (Source: www.shoecare.co.uk 23/02/2016) (2) For the year ending 30th June 2015, Charles Birch Limited reported a turnover of £14,567,773, pre-tax profits of £308,448 and a total net worth of £4,621,566 (Source: Experian Group 26.02.2016) (3) For the purpose of clarification, Charles Birch (Scotland) Limited is currently benefitting from a rent free period due to expire on 3rd November 2016. The seller has agreed to adjust the completion monies so that the unit will effectively produce £30,000 p.a.x. from completion of the sale.
