116-118 High Street
Ruislip
London
HA4 8LS

Freehold Retail Investment with Residential Potential

  • Let to Specsavers Optical Superstores Limited until 2026 (no breaks)
  • Located in a popular West London suburb
  • Future development potential
  • Nearby occupiers include Tesco Express, Card Factory, Marks & Spencer Simply Food and Superdrug
  • Lot
    5
  • Auction
    18/Oct/2018
  • Rent
    £45,000 per Annum Exclusive
  • Status
    Sold
  • Price*
    £922,000
  • Sector
    High Street Retail
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG
  • On behalf of Trustees
  • 116-118 High Street<br>Ruislip<br>London<br>HA4 8LS
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Property Information

Location
Miles
15 miles north-west of Central London
10 miles north-east of Slough
16 miles south-east of High Wycombe
Roads
A4180, B466, A40
Rail Ruislip Underground Station
(Metropolitan & Piccadilly Lines)
Air
Heathrow Airport
Situation

Ruislip is a popular West London suburb some 15 miles north-west of Central London. The property occupies a prominent position on Ruislip’s busy High Street with nearby occupiers including Tesco Express, Card Factory, Marks & Spencer Simply Food and Superdrug.

Tenure

Freehold.

Description

The property comprises a double fronted ground floor retail unit with first floor ancillary accommodation at the rear. In addition, to the front of the first floor are two residential flats which are currently unused and inaccessible.

VAT

VAT is 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

FloorUseFloor Areas (Approx)TenantTermRent p.a.xReview
Ground
First (rear)
Retail
Ancillary
211.35 sq m
22.76 sq m
(2,275 sq ft)
(245 sq ft)
SPECSAVERS
OPTICAL
SUPERSTORES
LIMITED (1)
10 years from
09/03/2016 until
08/03/2026 on a
full repairing and
insuring lease
£45,000 (3)09/03/2021
First (front)Residential
2 x One Bedroom Flat
VACANT
POSSESSION (2)
   
Total Commercial Area:
234.11 sq m
(2,520 sq ft)
  £45,000 (3) 

(1) For the year ending 28th February 2017, Specsavers Optical Superstores Limited reported a turnover of £716,509,000, pre-tax profits of £32,772,000 and a total net worth of £54,000,000 (Source: Experian Group 26/04/2018). Specsavers is a partnership of nearly 2,000 locally-run businesses, committed to delivering high quality, affordable optical and hearing care in the communities they serve with a network of over 700 stores throughout the UK (Source: www.specsavers.co.uk).
(2) There is currently no access to residential flats.
(3) The current passing rent is £25,000 p.a.x. The 2021 rent review provides a minimum rental uplift to £45,000 p.a.x. or open market value, whichever is the greater. The seller has agreed to adjust the completion monies so the sale will effectively produce £45,000 p.a.x from the completion of the sale.

Property Documents

  • Catalogue Page
    Updated Date
    26.09.18
    File Size
    740 KB
    View PDF
  • Site Plan
    Updated Date
    26.09.18
    File Size
    2 MB
    View PDF
  • Common Auction conditions
    Updated Date
    27.03.17
    File Size
    124 KB
    View PDF
  • Memorandum of Sale
    Updated Date
    27.03.17
    File Size
    27 KB
    View PDF

Contacts

Acuitus
Gwen ThomasGwen Thomas +44 (0)20 7034 4857 +44 (0)7809 363549gwen.thomas@acuitus.co.uk
Georgina RobertsGeorgina Roberts +44 (0)20 7034 4863georgina.roberts@acuitus.co.uk
Seller's Solicitors
Gowling WLG Two Snowhill
Birmingham
B4 6WR
Nisha Minhas 0121 393 0648Nisha.Minhas@gowlingwlg.com

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