Let to WH Smith Retail Holdings Limited on recently renewed lease expiring in 2025
Rent re-based at renewal
Close to Tonbridge Castle in popular commuter town
Nearby occupiers include a Waitrose supermarket, JD Wetherspoon, Starbucks and Oxfam
Lot 35
Auction 26th March 2020
Rent £36,750 per Annum Exclusive
Status Sold
Price
Sector High Street Retail
Auction Venue The Montcalm Hotel 2 Wallenberg Place Marble Arch London W1H 7TN
Property Information
Location
Miles
5 miles north of Tunbridge Wells
7 miles south-east of Sevenoaks
30 miles south-east of Central London
Roads
A21, A26, M25
Rail
Tonbridge Railway Station
Air
Gatwick Airport
Situation
The property is situated on the eastern side of High Street, the main retail thoroughfare in Tonbridge, opposite Medway Wharf Road. Nearby occupiers include a Waitrose supermarket, JD Wetherspoon, Starbucks, Oxfam, Boots Opticians and Greggs. Tonbridge Castle is located a short walk away.
Tenure
Freehold.
Location
Miles
5 miles north of Tunbridge Wells
7 miles south-east of Sevenoaks
30 miles south-east of Central London
Roads
A21, A26, M25
Rail
Tonbridge Railway Station
Air
Gatwick Airport
Situation
The property is situated on the eastern side of High Street, the main retail thoroughfare in Tonbridge, opposite Medway Wharf Road. Nearby occupiers include a Waitrose supermarket, JD Wetherspoon, Starbucks, Oxfam, Boots Opticians and Greggs. Tonbridge Castle is located a short walk away.
Tenure
Freehold.
Description
The property comprises a ground floor retail unit with first floor office accommodation.
VAT
VAT is applicable to this lot.
EPC
Available at acuitus.co.uk
Description
The property comprises a ground floor retail unit with first floor office accommodation.
VAT
VAT is applicable to this lot.
EPC
Available at acuitus.co.uk
Tenancy & Accommodation
Floor
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x.
Reversion
Ground First
Retail Offices
211.63 sq m 97.36 sq m
(2,278 sq ft) (1,048 sq ft)
WH SMITH RETAIL HOLDINGS LIMITED (1) t/a WH Smith Stationery
7 years from 01/09/2018 on a full repairing and insuring lease
£36,750 (2)
30/06/2025
Total
308.99 sq m
(3,326 sq ft)
£36,750 (2)
(1) For the year ending 31st August 2018, WH Smith Retail Holdings Limited reported a turnover of £180,610,000, pre-tax profits of £115,766,000 and a total net worth of £440,313,000 (Source: Experian Group 21/02/2020). Established in 1792, WHSmith started out as family-run newsagents and now has over 600 stores on the high street and another 600+ stores at airports, train stations, hospitals and motorway services (Source: www.whsmith.co.uk 21/02/2020). (2) The tenant is currently benefiting from a 12 month 50% concessionary rent commencing 21/01/2020. The vendor has agreed to adjust the completion monies so the property will effectively produce £36,750 from the completion of sale.
If you are the successful bidder, Acuitus requires a separate payment of £1,250+VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.
