21 /21a The Broadway Tolworth Surbiton KT6 7DJ

21 /21a The Broadway
Tolworth
Surbiton
KT6 7DJ

Freehold Retail and Residential Investment

  • Retail let to Pizza GoGo Ltd until 2033 (subject to option) (3)
  • 2018 tenant break not exercised
  • Greater of Open Market or RPI linked Rent Reviews for retail unit
  • Occupiers include Subway, Lloyds Pharmacy, Costa, Marks & Spencer, Iceland and Travelodge Hotel
  • Lot
    64
  • Auction
    11th July 2018
  • Rent
    £19,200 per Annum Exclusive
  • Status
    Sold
  • Price
    £315,000
  • Sector
    High Street Retail
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG
Important Update
  • Expand
  • Photos
  • Map

* More information on the term "guide" can be found here

Freehold Retail and Residential Investment

  • Retail let to Pizza GoGo Ltd until 2033 (subject to option) (3)
  • 2018 tenant break not exercised
  • Greater of Open Market or RPI linked Rent Reviews for retail unit
  • Occupiers include Subway, Lloyds Pharmacy, Costa, Marks & Spencer, Iceland and Travelodge Hotel
  • Lot 64
  • Auction 11th July 2018
  • Rent
  • Status Sold
  • Price £315,000
  • Sector
    High Street Retail
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG

Property Information

Location
Miles
10 miles south-west of Central London, 2 miles south of Kingston upon Thames
Roads
A3, A240, A243
Rail
Tolworth Railway Station, Surbiton Railway Station
Air
London Heathrow Airport
Situation

Tolworth is a popular and busy South West London suburb. The property is prominently located on the east side of Tolworth Broadway (A240), 250 metres from the junction with the A3. Nearby occupiers include Subway, Lloyds Pharmacy, Costa, Marks & Spencer and Iceland.

Tenure

Freehold.

Location
Miles
10 miles south-west of Central London, 2 miles south of Kingston upon Thames
Roads
A3, A240, A243
Rail
Tolworth Railway Station, Surbiton Railway Station
Air
London Heathrow Airport
Situation

Tolworth is a popular and busy South West London suburb. The property is prominently located on the east side of Tolworth Broadway (A240), 250 metres from the junction with the A3. Nearby occupiers include Subway, Lloyds Pharmacy, Costa, Marks & Spencer and Iceland.

Tenure

Freehold.

Description

The property comprises ground floor retail accommodation with a three bedroom self-contained maisonette on the first and second floors. The maisonette is accessed with a separate entrance at the rear of the property.

VAT

VAT is not 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 a three bedroom self-contained maisonette on the first and second floors. The maisonette is accessed with a separate entrance at the rear of the property.

VAT

VAT is not 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 Areas (Approx) Tenant Term Rent p.a.x Review/
(Reversion)
Ground Retail
92.40 sq m
(995 sq ft)
PIZZA GOGO
LTD (1)
20 years from
23/10/2013 (2)
£19,000 (3) 23/10/2018
and 5 yearly
First & Second Residential
1 x three bedroom
maisonette
INDIVIDUALS 125 years from
25/03/1988
£200 Increasing by
£100 p.a.x
every 25 years
Total
92.40 sq m
(995 sq ft)
    £19,200 (3)  

(1) For the year ending 31st May 2017, Pizza Go Go Ltd reported a turnover of £26,029,645, pre tax profits of £1,416,925 and a total net worth of £7,706,404 (Source: Experian Group 07/06/2018).
(2) The tenant option to determine the lease on 23/10/2018 has not been exercised. The lease provides for tenant options to determine on 23/10/2023 and 23/10/2028.
(3) The current rent reserved under the terms of the lease is £17,250 per annum exclusive. Agreement has been reached but not yet finalised for the Seller to remove the 2023 tenant option to determine the lease and for the October 2018 rent review to be settled at £19,000 per annum exclusive. The Seller will pay the buyer the difference between the current rent reserved of £17,250 pax and £19,000 pax from completion of the sale until 23rd October 2018. Therefore the entire property will produce £19,200 per annum exclusive from completion of the sale.

Property Documents

  • Catalogue Page
    Updated Date
    05.11.19
    File Size
    2 MB
    View PDF
  • Site Plan
    Updated Date
    05.11.19
    File Size
    2 MB
    View PDF
  • Common Auction conditions
    Updated Date
    10.06.21
    File Size
    168 KB
    View PDF
  • Memorandum of Sale
    Updated Date
    27.03.17
    File Size
    27 KB
    View PDF

Contacts

Acuitus
John MehtabJohn Mehtab +44 (0)20 7034 4855 +44 (0)7899 060 519john.mehtab@acuitus.co.uk
Associate Auctioneers
Cyril Leonard Chartered Surveyors and Property Consultants 22 Gilbert Street, Grosvenor Square
London
W1K 5EJ
Rebecca Meadows 0207 408 4623rebecca.meadows@cyrilleonard.co.uk
Seller's Solicitors
DMH Stallard LLP 6 New Street Square, New Fetter Lane
London
EC4A 3BF
Mervyn Harris 0207 822 1610mervyn.harris@dmhstallard.com

Useful Links

Acuitus Finance
Stuart BuchananStuart Buchanan +44 (0)20 7034 4850 +44 (0)7879 432868stuart.buchanan@acuitus.co.uk

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