Ground and basement let to Creb Ltd, t/a Coffee Republic (with guarantee) until 2025
Prominent corner position in an established retail area
Approximately 140 metres from Churchill Square Shopping Centre
Nearby occupiers include Santander, Topshop, H&M, Greggs and Primark
6 Week Completion Period Available
Lot 30
Auction 26th May 2011
Rent £75,000 per Annum Exclusive
Status Withdrawn Post
Price
Sector High Street Retail
Auction Venue Millennium Hotel 39-44 Grosvenor Square London W1K 2HP
Property Information
Location
Miles
23 miles south of Crawley, 53 miles south of London
Roads
A27, A23, A270, A259, M23 (Junction 11)
Rail
Brighton Railway Station (55 minutes to London Victoria)
Air
London Gatwick (22 miles)
Situation
The property is situated in a prominent corner position on the southern side of Western Street, one of the town's principal retail thoroughfares, at its junction with Clarence Square. Nearby occupiers include Santander, Topshop, H&M, Greggs, HMV and Primark.
Tenure
Freehold.
Location
Miles
23 miles south of Crawley, 53 miles south of London
Roads
A27, A23, A270, A259, M23 (Junction 11)
Rail
Brighton Railway Station (55 minutes to London Victoria)
Air
London Gatwick (22 miles)
Situation
The property is situated in a prominent corner position on the southern side of Western Street, one of the town's principal retail thoroughfares, at its junction with Clarence Square. Nearby occupiers include Santander, Topshop, H&M, Greggs, HMV and Primark.
Tenure
Freehold.
Description
The property comprises a ground floor café with ancillary and storage accommodation in the basement and residential accommodation on the first, second and third floors. The residential accommodation comprises 7 one bedroom flats and 2 studio flats. The residential accommodation is accessed via the side of Clarence Square.
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 café with ancillary and storage accommodation in the basement and residential accommodation on the first, second and third floors. The residential accommodation comprises 7 one bedroom flats and 2 studio flats. The residential accommodation is accessed via the side of Clarence Square.
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
Reviews
Ground Basement
Retail Storage/Ancillary
106.00 sq m 73.58 sq m
(1,141 sq ft) (792 sq ft)
CREB LTD (t/a Coffee Republic) (with guarantee)
15 years from 04/01/2010 until 03/01/2025 on a full repairing and insuring lease
£75,000
04/01/2015 and 04/01/2020
First Second Third
Residential Residential Residential
Not Measured Not Measured Not Measured
INDIVIDUAL
9 individual 125 year leases each from 07/12/2006 until 06/12/2131
Peppercorn
Totals
175.60 sq m
(1,933 sq ft)
£75,000
Contacts
Associate Auctioneers
Gildersleve & Payne 31 Station Road West Oxted Surrey RH8 9EE
