9 High Street
Cobham
Surrey
KT11 3DJ

Freehold Retail Investment in Affluent Surrey Commuter Town

  • Let to Nero Holdings Limited trading as Caffe Nero
  • New 10 year lease from January 2020 (no breaks)
  • Prominent location in highly affluent Surrey commuter town
  • Nearby occupiers include Cote Brasserie, Crew Clothing, Sainsbury's Local, Sweaty Betty and Mint Velvet
  • Lot
    8
  • Auction
    28/Oct/2020
  • Rent
    £67,500 per Annum Exclusive
  • Status
    Available
  • Price*
    Contact Us
  • Sector
    High Street Retail
  • Auction Venue
    Live Streamed Auction
  • 9 High Street<br>Cobham<br>Surrey<br>KT11 3DJ
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* More information on the term "price" can be found here

Property Information

Location
Miles
18 miles south-west of Central London
10 miles north-east of Guildford
Roads
A3, M25
Rail
Cobham & Stoke DAbernon
Air
London Gatwick
Situation

Cobham is an affluent and attractive Surrey commuter town, located approximately 18 miles south-west of Central London. The town benefits from excellent transport links to the A3 and M25 (J10). The property is located in a prominent position on the east side of High Street. Nearby occupiers include Cote Brasserie, Crew Clothing, Sainsbury's Local, Sweaty Betty and Mint Velvet.

Tenure

Freehold.

Description

The property comprises a coffee shop arranged on the ground floor only, benefitting from a rear yard with seating. The upper floors are let on a long lease.

VAT

VAT is applicable to this lot.

Completion Period

Six Week Completion

EPC

Band E. See legal pack at www.acuitus.co.uk.

Tenancy & Accommodation

FloorUseFloor Areas
(Approx)
TenantTermRent p.a.xReview
GroundRetail
135.49 sq m
(1,458 sq ft)
NERO HOLDINGS
LIMITED t/a Caffe
Nero (1)
10 years from
20/01/2020 until
19/01/2030 on a full
repairing and insuring
lease
£67,500 (2)20/01/2025
First/
Second
Residential
-
(-)
P. J. SEATON125 years from
24/06/2013 until
23/06/2138
£125 
Total
135.49 sq m
(1,458 sq ft)
  £67,625 

(1) For the year ending 31st May 2019, Nero Holdings Limited reported a turnover of 292,569,000, pre-tax profits of 23,089,000 and shareholders funds of 264,442,000 (source: SmartSearch 02/10/2020).
(2) Under the terms of the lease, the tenant benefits from a rent free period until 19th October 2020. The rent then rises to 62,500 pa until January 2022, after which the rent rises to 65,000 pa until January 2023, after which the rent rises to 67,500 pa. The Vendor has agreed to adjust the completion monies so that the property produces 67,500 pa from completion until the fixed rental uplift in January 2023.

If you are the successful bidder, Acuitus requires a separate payment of £1,000 inclusive of VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.

Due to the current restrictions in movement throughout the UK, the property may not have been inspected by Acuitus. Some photographs may not be current and these will be dated where this is the case. Plans showing nearby occupiers and mention of nearby occupiers may reflect a dated situation as some tenants are not currently in occupation. Floor areas and accommodation details are likely to have been obtained from VOA.Gov.UK and the Vendor.

Property Documents

  • Solicitors Legal Pack
    Updated Date
    27.10.20
    File Size
    46 MB
    Login to View
  • Catalogue Page
    Updated Date
    07.10.20
    File Size
    6 MB
    View PDF
  • Site Plan
    Updated Date
    07.10.20
    File Size
    875 KB
    View PDF
  • Common Auction conditions
    Updated Date
    01.07.20
    File Size
    277 KB
    View PDF
  • Memorandum of Sale
    Updated Date
    27.03.17
    File Size
    27 KB
    View PDF
  • Money Laundering Regs
    Updated Date
    07.10.20
    File Size
    1,016 KB
    View PDF
  • Customer Due Dilligence Form
    Updated Date
    20.05.20
    File Size
    585 KB
    View PDF

Contacts

Acuitus
David MargolisDavid Margolis +44 (0)20 7034 4862 +44 (0)7930 484 440david.margolis@acuitus.co.uk
George GoucherGeorge Goucher +44 (0)20 7034 4860george.goucher@acuitus.co.uk
Seller's Solicitors
Charles Russell Speechlys LLP 5 Fleet Place
London
EC4M 7RD
Mark White 020 7427 6556mark.white@crsblaw.com

Useful Links

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