91 High Street Sutton Surrey SM1 1LF

91 High Street
Sutton
Surrey
SM1 1LF

Reversionary Freehold Retail Investment

Entirely let to Thomas Hogg & Son Ltd until December 2066
Sublet to Telefonica UK Limited, t/a O2, at a current rent of £65,000 p.a.x.
Nearby occupiers include Boots, Marks & Spencer, W H Smith and Carphone Warehouse
Six Week Completion Available

Lot
4
Auction
10th July 2012
Rent
£35,131 per Annum Exclusive
Status
Sold
Price
£580,000
Auction Venue
Millennium Hotel
39-44 Grosvenor Square
London W1K 2HP
On Behalf of a Major Fund

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Reversionary Freehold Retail Investment

Entirely let to Thomas Hogg & Son Ltd until December 2066
Sublet to Telefonica UK Limited, t/a O2, at a current rent of £65,000 p.a.x.
Nearby occupiers include Boots, Marks & Spencer, W H Smith and Carphone Warehouse
Six Week Completion Available

Lot 4
Auction 10th July 2012
Rent £35,131 per Annum Exclusive
Status Sold
Price £580,000
Sector
High Street Retail
Auction Venue
Millennium Hotel
39-44 Grosvenor Square
London W1K 2HP
On Behalf of a Major Fund

Property Information

Location

Miles: 4.6 miles south of Wimbledon, 7 miles west of Croydon, 12 miles south of Central London
Roads: A232, A217, M25, M23
Rail: Sutton (Surrey) Railway Station
Air: London Gatwick Airport

Situation

The property is situated in a prominent location on the western side of the pedestrianised High Street, Suttons prime retailing area. The property lies diagonally opposite an entrance to St Nicholas Shopping Centre which houses various retailers including HMV, NatWest, Debenhams and JJB Sports. Other nearby occupiers include Boots, Marks & Spencer, W H Smith and Carphone Warehouse.

Tenure

Freehold.

Location

Miles: 4.6 miles south of Wimbledon, 7 miles west of Croydon, 12 miles south of Central London
Roads: A232, A217, M25, M23
Rail: Sutton (Surrey) Railway Station
Air: London Gatwick Airport

Situation

Tenure

Freehold.

Description

The property comprises a ground retail unit with additional basement storage accommodation and a self-contained three bedroom residential flat on first and second floors accessed from the rear.

VAT

VAT is not applicable to this lot.

EPC

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

Description

The property comprises a ground retail unit with additional basement storage accommodation and a self-contained three bedroom residential flat on first and second floors accessed from the rear.

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	Rent p.a.x	Reviews
Ground Basement First Second	Retail Storage Residential Residential	175.13 sq m 10.73 sq m	(1,885 sq ft) (115 sq ft)	THOMAS HOGG & SONLIMITED (1) sublet toTelefonica UK Limited(t/a O2) (2) (3)	99 years from 13/12/1967 until 12/12/2066 on a full repairing and insuring lease	£35,131.12	29/09/2023 and 14 yearly thereafter (4)
Ground Basement First Second	Retail Storage Residential Residential	Not Measured Not Measured				£35,131.12	29/09/2023 and 14 yearly thereafter (4)
Totals		185.86 sq m	(2,000 sq ft)			£35,131.12

(1) Thomas Hogg & Son Ltd were established in 1865 and are based in Reigate. (Source: www.thomashogg.co.uk 12/06/2012)
(2) The sublease to Telefonica UK Limited is for a term of 10 years from and including 19th May 2002 at a rent of £65,000 p.a.x. A new lease has been proposed for a 10 year term at £50,000 p.a.x. with a tenant’s option to determine in the 5th year.
(3) The tenant has sublet the residential flat on an Assured Shorthold Tenancy.
(4) The rent is reviewed to 20/37ths of the open market rental value. Please see legal documentation for further information.