14 - 15 West Street Farnham Surrey GU9 7DN

14 - 15 West Street
Farnham
Surrey
GU9 7DN

Freehold Retail and Residential Investment

Retail let to Sharps Bedrooms Limited until October 2022 (no breaks)
Located in the heart of prosperous Surrey town
Short distance from Lion & Lamb Yard Shopping Centre
Other nearby occupiers include Holland & Barrett, Jigsaw, Boots, Sweaty Betty and Costa Coffee

Lot
37
Auction
24th May 2018
Rent
£56,450 per Annum Exclusive
Status
Sold
Price
£678,000
Auction Venue
The Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG

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Freehold Retail and Residential Investment

Retail let to Sharps Bedrooms Limited until October 2022 (no breaks)
Located in the heart of prosperous Surrey town
Short distance from Lion & Lamb Yard Shopping Centre
Other nearby occupiers include Holland & Barrett, Jigsaw, Boots, Sweaty Betty and Costa Coffee

Lot 37
Auction 24th May 2018
Rent £56,450 per Annum Exclusive
Status Sold
Price £678,000
Sector
High Street Retail
Auction Venue
The Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG

Property Information

Location

Miles: 7 miles south of Farnborough; 9 miles west of Guildford,; 40 miles south-west of Central London
Roads: A3, A31, A287, A325, M3
Rail: Farnham Rail
Air: Heathrow Airport, Gatwick Airport

Situation

Farnham is an affluent Surrey commuter town to the west of Guildford. The property is prominently situated on the southern side of West Street, a short distance from the Lion & Lamb Yard Shopping Centre, which houses occupiers including Waterstones, Laura Ashley, Côte and provides direct access to Waitrose. Other nearby occupiers include Holland & Barrett, Jigsaw, Boots, Sweaty Betty and Costa Coffee, with Oliver Bonas due to take space at 2-3 West Street and Space NK due to occupy 7 West Street.

Tenure

Freehold.

Location

Miles: 7 miles south of Farnborough; 9 miles west of Guildford,; 40 miles south-west of Central London
Roads: A3, A31, A287, A325, M3
Rail: Farnham Rail
Air: Heathrow Airport, Gatwick Airport

Situation

Tenure

Freehold.

Description

The property is an attractive Grade II listed building comprising a double fronted ground floor retail unit with three self-contained flats on the upper floors, which have been let on a long lease.

VAT

VAT is not applicable to this lot.

EPC

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

Description

The property is an attractive Grade II listed building comprising a double fronted ground floor retail unit with three self-contained flats on the upper floors, which have been let on a long lease.

VAT

VAT is not 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	Reversion
Ground	Retail	150.50 sq m	(1,620 sq ft)	SHARPS BEDROOMS LIMITED on a full repairing and insuring lease (1)	Approximately 11 years and 4 months from 29/06/2011	£56,000	19/10/2022
First & Second	Residential	2 x 1 Bedroom Flats & 1 x 2 Bedroom Flat		VARIOUS INDIVIDUALS	3 x 125 years from 2016	£450 (2)	2141
Total Commercial Area:		150.50 sq m	(1,620 sq ft)			£56,450

(1) For the year ending 2nd October 2016, Sharps Bedrooms Limited reported a turnover of £86,886,000, pre-tax profits of £6,960,000 and a total net worth of £3,408,000 (Source: Experian Group 11/04/2018). Sharps is one of the UK’s leading fitted bedroom furniture and home office specialists and has 80 showrooms nationwide (Source: www.sharps.co.uk 11/04/2018).
(2) The residential leases currently produce £150 per annum each, with the rent doubling on 01/01/2041 and every 25 years thereafter.
NB: The seller has served a notice on the residential tenants, pursuant to section 5B of the Landlord & Tenant Act 1987.