11-12 Middle Street and 3 & 3A The Carfax Horsham Sussex RH12 1NW

11-12 Middle Street and 3 & 3A The Carfax
Horsham
Sussex
RH12 1NW

Modern Retail Investment in Affluent Commuter Market Town

Entirely let to Non-Stop Party Shop Ltd on a 15 year lease
Rental increase agreed following rent review
Prominently situated on pedestrianised retail thoroughfare
Benefits from a double frontage onto Middle Street and Carfax
Nearby occupiers include Barclays Bank, Crew Clothing, Waterstones and Ryman Stationers
Net Rent of £16,000 p.a.x.

Lot
29
Auction
23rd February 2012
Rent
£47,500 per Annum Exclusive
Status
Sold Prior
Price
Auction Venue
Millennium Hotel
39-44 Grosvenor Square
London W1K 2HP
On Behalf of Robert Dyas

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Modern Retail Investment in Affluent Commuter Market Town

Entirely let to Non-Stop Party Shop Ltd on a 15 year lease
Rental increase agreed following rent review
Prominently situated on pedestrianised retail thoroughfare
Benefits from a double frontage onto Middle Street and Carfax
Nearby occupiers include Barclays Bank, Crew Clothing, Waterstones and Ryman Stationers
Net Rent of £16,000 p.a.x.

Lot 29
Auction 23rd February 2012
Rent £47,500 per Annum Exclusive
Status Sold Prior
Price
Sector
High Street Retail
Auction Venue
Millennium Hotel
39-44 Grosvenor Square
London W1K 2HP
On Behalf of Robert Dyas

Property Information

Location

Miles: 21 miles south-east of Guildford; 28 miles north of Brighton; 38 miles south of London
Roads: A24, M23 (Junction 11), M25
Rail: Horsham Railway Station (54 minutes to London Victoria)
Air: Gatwick Airport

Situation

The property is situated on one of Horsham’s prime pedestriansed retail thoroughfares and benefits from a double frontage onto both Middle Street and Carfax. Middle Street connects East Street with West Street home to Swan Walk Shopping Centre and occupiers including Top Shop, Starbucks and Lloyds TSB, while Carfax provides access to Piries Place Shopping Centre.

Tenure

Long Leasehold. Held for a term of 120 years from 10th June 1969 until 9th June 2089 at a rent of £31,500 p.a.x. The rent is reviewed every 14 years to 65% of open market rental value with the next review being 10th June 2025.

Location

Miles: 21 miles south-east of Guildford; 28 miles north of Brighton; 38 miles south of London
Roads: A24, M23 (Junction 11), M25
Rail: Horsham Railway Station (54 minutes to London Victoria)
Air: Gatwick Airport

Situation

Tenure

Description

The property comprises retail accommodation on ground and part first floor with storage accommodation on the remaining first floor. The property also benefits from additional ancillary accommodation on the second floor.

VAT

VAT is not applicable to this lot.

EPC

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

Description

VAT

VAT is not 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	Gross Rent p.a.x	Reversion
Ground First Second	Retail Retail/Storage Ancillary	144.09 sq m 147.99 sq m 57.04 sq m	(1,551 sq ft) (1,593 sq ft) (614 sq ft)	NON-STOP PARTY SHOP LTD (1)	15 years from 13/11/2000	£47,500	12/11/2015
Totals		349.12 sq m	(3,758 sq ft) (3)			£47,500 (2)

(1) Set up in 1988, Non-Stop Party Shop Ltd has 5 stores in London, Surrey and Sussex making them one the biggest and best known party stores in the South of England. Non-Stop Party Shop’s corporate supply division has a customer base that includes BBC Television, ITV, BAA, Sony and Virgin to name a few. (www.nonstopparty.co.uk 24/02/2012)
(2)The current gross rental income is £47,500 p.a.x. Therefore, the current net rental income after allowing for the head rent payable is £16,000 p.a.x.
(3)Please note that these areas were agreed between parties at the 2005 rent review.