Freehold Retail and Residential Investment with Development Potential (subject to consents)
200 metres from Swan Walk Shopping Centre and West Street, Horsham’s prime pedestrianised retailing thoroughfare
Nearby occupiers include KFC, William Hill and a number of independent retailers
On-site car parking
Substantial yard to rear giving future development potential (subject to consents)
Six Week Completion Available
Lot 42
Auction 6th December 2012
Rent £88,660 per Annum Exclusive
Status Sold
Price £910,000
Sector High Street Retail
Auction Venue Millennium Hotel 39-44 Grosvenor Square London W1K 2HP
On behalf of Joint Fixed Charge Receivers, Jones Lang LaSalle
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 Rail Station (54 minutes to London Victoria)
Air
Gatwick Airport
Situation
The property is situated on the northern side of Bishopric some 200 metres from West Street and Swan Walk Shopping Centre which houses retailers including Boots, BHS, Marks & Spencer, New Look and The Body Shop. Other nearby occupiers include KFC, William Hill and a number of independent retailers.
Tenure
Freehold.
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 Rail Station (54 minutes to London Victoria)
Air
Gatwick Airport
Situation
The property is situated on the northern side of Bishopric some 200 metres from West Street and Swan Walk Shopping Centre which houses retailers including Boots, BHS, Marks & Spencer, New Look and The Body Shop. Other nearby occupiers include KFC, William Hill and a number of independent retailers.
Tenure
Freehold.
Description
The property comprises four ground floor retail units with four residential maisonettes on the upper floors. The property also benefits from a large yard to the rear providing car parking.
Note
This property is being marketed for sale on behalf of Joint Fixed Charge Receivers and therefore no warranties or guarantees in any respect, including VAT, can be given. The Joint Fixed Charge Receivers are not bound to accept the highest or any offer and are acting in respect of this sale 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
The property comprises four ground floor retail units with four residential maisonettes on the upper floors. The property also benefits from a large yard to the rear providing car parking.
Note
This property is being marketed for sale on behalf of Joint Fixed Charge Receivers and therefore no warranties or guarantees in any respect, including VAT, can be given. The Joint Fixed Charge Receivers are not bound to accept the highest or any offer and are acting in respect of this sale 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.
Tenancy & Accommodation
No.
Floor
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x
Reviews/(Reversion)
32 42
Ground First/Second
Retail Residential
43.11 sq m
(8,464 sq ft) Not Measured
INDIVIDUALS (Retail t/a Mr Chips Takeaway)
14 years from 24/06/2007
£23,000 (1)
24/06/2017 (23/06/2021)
34
Ground
Retail
43.39 sq m
(467 sq ft)
STEBAN’S HAIR STUDIO LIMITED
10 years from 25/03/2009 (2)
£13,500
25/03/2014 (24/03/2019)
44
First/Second
Residential
Not Measured
INDIVIDUALS
12 month AST from 06/08/2012
£9,960
(06/08/2013)
36 46
Ground First/Second
Retail Residential
42.36 sq m
(456 sq ft) Not Measured
INDIVIDUALS (Retail t/a Bishopric Wines)
20 years from 17/02/2011
£21,000 (3)
17/02/2016 (16/02/2031)
38 48
Ground First/Second
Retail Residential
43.48 sq m
(468 sq ft) Not Measured
INDIVIDUAL (Retail t/a Eastern Tandoori)
13 years from 24/03/2008
£19,200
24/03/2013 (23/03/2021)
Totals
172.34 sq m
(1,855 sq ft)
£88,660
(1) The rental income includes £500 p.a.x. for an additional lease to the tenant for garage accommodation. There is a further lease to the tenant for additional garage accommodation at a peppercorn rent. For further information, please refer to the legal documentation. (2)The lease provides an option to determine on the fifth anniversary of the term. (3)The rental income includes £1,000 p.a.x. for an additional lease to the tenant for two car parking spaces. For further information, please refer to the legal documentation.
