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
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.
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.
Contacts
Associate Auctioneers
Smith Price RRG 5-7 John Princes Street London, W1G 0JN
