Pedestrianised Freehold Retail Investment In Affluent Surrey Town
Let to Estee Lauder Cosmetics Ltd (t/a Jo Malone) until 2027 (subject to option)
Prominent position on busy and historic pedestrianised High Street
Affluent commuter town
Diagonally opposite the newly developed Tunsgate Quarter
Nearby occupiers include House of Fraser, Superdrug, Hobbs and Anthropology
Lot 15
Auction 23rd September 2020
Rent £105,000 per Annum Exclusive
Status Sold Post
Price
Sector High Street Retail
Auction Venue Live Streamed Auction
Property Information
Location
Miles
6 miles south of Woking
30 miles south-west of London
Roads
A3001, A25 & A3
Rail
Guildford Rail (38 mins to London Waterloo)
Air
London Gatwick & London Heathrow Airport
Situation
Guildford is a historic and affluent London commuter town located 30 miles south-west of London and is Surrey's main administrative centre. The town is home to the University of Surrey, as well as being a popular tourist destination. The property occupies a prominent position on the northern side of the attractive pedestrianised High Street, close to its junction with Market Street. Diagonally opposite the property is the newly developed Tunsgate Quarter, which houses occupiers including Oka and Lululemon. Other nearby occupiers include House of Fraser, Hobbs, Superdrug, Office, Anthropology and Le Creuset.
Tenure
Freehold.
Location
Miles
6 miles south of Woking
30 miles south-west of London
Roads
A3001, A25 & A3
Rail
Guildford Rail (38 mins to London Waterloo)
Air
London Gatwick & London Heathrow Airport
Situation
Guildford is a historic and affluent London commuter town located 30 miles south-west of London and is Surrey's main administrative centre. The town is home to the University of Surrey, as well as being a popular tourist destination. The property occupies a prominent position on the northern side of the attractive pedestrianised High Street, close to its junction with Market Street. Diagonally opposite the property is the newly developed Tunsgate Quarter, which houses occupiers including Oka and Lululemon. Other nearby occupiers include House of Fraser, Hobbs, Superdrug, Office, Anthropology and Le Creuset.
Tenure
Freehold.
Description
The property comprises an attractive Grade II listed building comprising a ground floor retail unit with first floor ancillary accommodation.
VAT
VAT is not applicable to this lot.
EPC
Band D. See legal pack.
Description
The property comprises an attractive Grade II listed building comprising a ground floor retail unit with first floor ancillary accommodation.
VAT
VAT is not applicable to this lot.
EPC
Band D. See legal pack.
Tenancy & Accommodation
Floor
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x
Reversion
Ground first
Retail Ancillary
38.64 sq m 35.11 sq m
(416 sq ft) (378 sq ft)
ESTEE LAUDER COSMETICS LIMITED t/a Jo Malone (1)
10 years from 29/09/2017 on a full repairing and insuring lease (2)
£105,000
28/09/2027
Total
73.75 sq m
(794 sq ft)
£105,000
(1) For the year ending 30th June 2019, Estee Lauder Cosmetics Ltd reported a turnover of 575,867,000, pre-tax profits of 239,092,000 and shareholders funds of 308,920,000 (Source: SmartSearch 14/08/2020). The Estee Lauder Companies UK & Ireland is the number one prestige beauty company in the UK, with their brands sold in more than 4,000 stores. Estee Lauder has 25+ UK prestige brands including Jo Malone, Clinique and Bobbi Brown (Source: www.elcompanies.co.uk 14/08/2020). Founded in 1994, Jo Malone London is a British fragrance and lifestyle brand (Source: www.jomalone.co.uk 14/08/2020). (2) The lease provides an option to determine on 28/09/2022, subject to 6 months notice. A break penalty of 8,750 is payable if the tenant exercises their break.
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.
