Prominent town centre location between Asda and Sainsbury’s
Adjacent to a pedestrianised crossing, close to car park and bus stops
Comprises five shops (one double fronted unit)
Potential development opportunity (1)
Lot 45
Auction 14th February 2018
Rent £66,000 per Annum Exclusive
Status Sold
Price £800,000
Sector High Street Retail
Auction Venue The Radisson Blu Portman Hotel 22 Portman Square London W1H 7BG
In the same ownership since 1980
Property Information
Location
Miles
5 miles south of Wimbledon, 7 miles west of Croydon, 12 miles south of Central London
Roads
A217, A232, M23, M25
Rail
Sutton, Sutton Common & West Sutton Railway Stations
Air
Gatwick & Heathrow Airports
Situation
The property is situated in a prominent town centre location on Marshalls Road, at its junction with High Street. High Street is the main retailing thoroughfare in the town. The property is 150 metres north of St Nicholas Shopping Centre and benefits from close proximity to the residential area on
Brunswick Road. A number of bus stops and car parks are close by. Occupiers close by include Matalan, Sainsbury’s, Asda, Betfred, Costa, Argos and Halfords, amongst others.
Tenure
Freehold.
Location
Miles
5 miles south of Wimbledon, 7 miles west of Croydon, 12 miles south of Central London
Roads
A217, A232, M23, M25
Rail
Sutton, Sutton Common & West Sutton Railway Stations
Air
Gatwick & Heathrow Airports
Situation
The property is situated in a prominent town centre location on Marshalls Road, at its junction with High Street. High Street is the main retailing thoroughfare in the town. The property is 150 metres north of St Nicholas Shopping Centre and benefits from close proximity to the residential area on
Brunswick Road. A number of bus stops and car parks are close by. Occupiers close by include Matalan, Sainsbury’s, Asda, Betfred, Costa, Argos and Halfords, amongst others.
Tenure
Freehold.
Description
The property comprises five self-contained shops all arranged on ground floor, one of which (Nos. 1-3) comprises a double fronted shop.
VAT
VAT is not applicable to this lot.
Planning
(1) The property may benefit from the addition of upper floors/conversion to residential use, subject to the current occupations and the necessary consents/permissions. Interested parties are referred to The London Borough of Sutton Council - www.sutton.gov.uk
Completion Period
Six Week Completion
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property comprises five self-contained shops all arranged on ground floor, one of which (Nos. 1-3) comprises a double fronted shop.
VAT
VAT is not applicable to this lot.
Planning
(1) The property may benefit from the addition of upper floors/conversion to residential use, subject to the current occupations and the necessary consents/permissions. Interested parties are referred to The London Borough of Sutton Council - www.sutton.gov.uk
Completion Period
Six Week Completion
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Tenancy & Accommodation
Shop
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x
Reversion
1/3
Retail
39.00 sq m
(420 sq ft)
INDIVIDUAL t/a Luce Pizza & Kebab (2)
5 years from 22/12/2017 on a full repairing and insuring lease (4)
£22,000
2022
5
Retail
18.50 sq m
(199 sq ft)
INDIVIDUAL t/a Chic Unisex Hairdressers
Term of years expiring 06/02/2018. New lease agreed for a term of 5 years from 7/02/2018 on a full repairing and insuring lease (4)
£11,000
2023
7
Retail
18.50 sq m
(199 sq ft)
INDIVIDUALS t/a Vitamin-shop
5 years from 1/01/2018 on a full repairing and insuring lease (4)
£11,000
2023
9
Retail
18.50 sq m
(199 sq ft)
INDIVIDUAL t/a Quality Stitch (3)
5 years from 11/04/2017 on a full repairing and insuring lease (4)
£11,000
2022
11
Retail
18.50 sq m
(199 sq ft)
INDIVIDUAL t/a Elegant Nails
5 years from 18/02/2016 on a full repairing and insuring lease (4)
£11,000
2021
Total
113 sq m
(1,216 sq ft)
£66,000
(2) www.lucepizzasutton.com (3) With a shop in Wimbledon and over 25 years international experience (Source: www.qualitystitchlondon.co.uk). (4) The lease is outside the Security of Tenure provisions of the 1954 Landlord & Tenant Act.
