177-179 Central Road Worcester Park Surrey KT4 8DR

177-179 Central Road
Worcester Park
Surrey
KT4 8DR

Freehold Retail Investment in Affluent Commuter Town

Entirely let to Marks & Spencer plc until 2023
Sub-let to and occupied by Poundland Limited
Benefits from Open A1 (with food) Planning Consent
Nearby occupiers Include Barclays Bank, Boots the Chemist and W H Smith
Six Week Completion Period Available

Lot
4
Auction
23rd February 2012
Rent
£137,500 per Annum Exclusive
Status
Sold Post
Price
Auction Venue
Millennium Hotel
39-44 Grosvenor Square
London W1K 2HP
On behalf of J E Cookson and A J Phillips as Joint Fixed Charge Receivers

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Freehold Retail Investment in Affluent Commuter Town

Entirely let to Marks & Spencer plc until 2023
Sub-let to and occupied by Poundland Limited
Benefits from Open A1 (with food) Planning Consent
Nearby occupiers Include Barclays Bank, Boots the Chemist and W H Smith
Six Week Completion Period Available

Lot 4
Auction 23rd February 2012
Rent £137,500 per Annum Exclusive
Status Sold Post
Price
Sector
High Street Retail
Auction Venue
Millennium Hotel
39-44 Grosvenor Square
London W1K 2HP
On behalf of J E Cookson and A J Phillips as Joint Fixed Charge Receivers

Property Information

Location

Miles: 4 miles south-east of Kingston Upon Thames, 7 miles west of Esher, 14 miles south-west of Central London
Roads: A2043, A3, M25
Rail: Worcester Park Railway Station (Direct to London Waterloo)
Air: Gatwick International Airport

Situation

The property is situated on the south-west side of Central Road (A2043), an established retail and residential parade, approximately 100 metres from Worcester Park Railway Station. Nearby occupiers include Barclays Bank, Boots the Chemist and W H Smith.

Tenure

Freehold.

Location

Miles: 4 miles south-east of Kingston Upon Thames, 7 miles west of Esher, 14 miles south-west of Central London
Roads: A2043, A3, M25
Rail: Worcester Park Railway Station (Direct to London Waterloo)
Air: Gatwick International Airport

Situation

Tenure

Freehold.

Description

Description
The property comprises an open plan ground floor retail unit with storage accommodation, office and staff room facilities on the first floor. The property benefits from a 1,000 kg, 13-person passenger/goods lift and a forecourt to the front providing parking for some 8 vehicles.

NB. This property is being marketed for sale on behalf of Joint Fixed Charge Receivers and therefore no warranties or guarantees in any respect, including any in relation to VAT, can be given. The Fixed Charge Receivers are not bound to accept the highest or any offer and are acting without personal liability.

VAT

VAT is applicable to this lot.

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Description

VAT

VAT is applicable to this lot.

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	Reviews
Ground First	Retail Ancillary	362.8 sq m 163.6 sq m	(3,905 sq ft) (1,761 sq ft)	MARKS & SPENCER PLC (1) (2)	20 years from 25/03/2003 until 24/03/2023 on a full repairing and insuring lease	£137,500	25/03/2013 & 25/03/2018
Ground First	Retail Ancillary	362.8 sq m 163.6 sq m		MARKS & SPENCER PLC (1) (2)		£137,500	25/03/2013 & 25/03/2018
Totals		526.4 sq m (3)	(5,666 sq ft) (3)			£137,500

(1) For the year ending 2nd April 2011, Marks & Spencer plc reported a turnover of £9,740,300,000, pre-tax profits of £780,600,000 and a total net worth of £2,145,700,000. (Source: www.riskdisk.com 23/01/2012)
(2) Please note, the tenant has sublet the property to Poundland Limited who are currently in occupation. For the year ending 27th March 2011, Poundland Limited reported a turnover of £641,522,000, pre-tax profits of £21,401,000 and a net worth of £66,871,000. (Source www.riskdisk.com 23/01/2012)
(3) The rent review clause states that the property is to be valued assuming a gross internal area of 6,090 sq ft).