Regent House High Street Crowborough East Sussex TN6 2QA

Regent House
High Street
Crowborough
East Sussex
TN6 2QA

Freehold Retail/Residential Investment

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
£21,200 per Annum Exclusive
Status
Sold
Price
£295,000
Auction Venue
The Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG

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Freehold Retail/Residential Investment

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 £21,200 per Annum Exclusive
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

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.

Tenancy & Accommodation

Floor	Use	Floor Area (Approx)		Tenant	Term	Rent p.a.x	Review/ (Reversion)
Ground Basement First Second	Retail/Ancillary Ancillary Residential (4) Residential (4)	141.64 sq m 42.2 sq m Not measured Not measured	(1,525 sq ft) (454 sq ft)	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.