Starbucks, Wiseley North Service Station Ripley Surrey GU23 6PT

Starbucks, Wiseley North Service Station
Ripley
Surrey
GU23 6PT

Freehold Retail Investment

Entirely let to Starbucks Coffee Company (UK) Limited on a New 15 Year Lease until 2028 with no rent free period
Located at busy Wisley North Service Station on A3 Carriageway, close to the M25
Nearby occupiers include BP, M&S Food, Wild Bean Café and Little Chef
Six Week Completion

Lot
5
Auction
17th October 2013
Rent
£75,000 per Annum Exclusive
Status
Sold
Price
£1,050,000
Auction Venue
The Millennium Hotel
44 Grosvenor Square
Mayfair
London W1K 2HP

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Freehold Retail Investment

Entirely let to Starbucks Coffee Company (UK) Limited on a New 15 Year Lease until 2028 with no rent free period
Located at busy Wisley North Service Station on A3 Carriageway, close to the M25
Nearby occupiers include BP, M&S Food, Wild Bean Café and Little Chef
Six Week Completion

Lot 5
Auction 17th October 2013
Rent £75,000 per Annum Exclusive
Status Sold
Price £1,050,000
Sector
High Street Retail
Auction Venue
The Millennium Hotel
44 Grosvenor Square
Mayfair
London W1K 2HP

Property Information

Location

Miles: 2 miles south-east of Woking, 8 miles north-east of Guildford
Roads: A3
Rail: Horsley Rail
Air: London Heathrow, London Gatwick

Situation

The property is situated in a busy location at Wisley North Service Station, being the last service station northbound on the A3 carriageway before the M25 and London. Other retailers at the service station include BP, M&S Food and Wild Bean Café, with Little Chef adjacent, at the southbound service station.

Tenure

Freehold.

Location

Miles: 2 miles south-east of Woking, 8 miles north-east of Guildford
Roads: A3
Rail: Horsley Rail
Air: London Heathrow, London Gatwick

Situation

Tenure

Freehold.

Description

The property comprises a single storey retail unit with ancillary/storage accommodation to the rear. The property also benefits from on-site parking for approximately 30 cars.

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 a single storey retail unit with ancillary/storage accommodation to the rear. The property also benefits from on-site parking for approximately 30 cars.

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	Retail	359.30 sq m	(3,868 sq ft)	STARBUCKS COFFEE COMPANY (UK) LIMITED (1)	15 years from 29/09/2013 until 28/09/2028 on a full repairing and insuring lease (2)(3)	£75,000	29/09/2018 and 29/09/2023
Totals		359.30 sq m	(3,868 sq ft)			£75,000

(1) Starbucks operates in over 50 countries and has a total of 17,009 stores (as at January 2 2011) (Source: www.starbucks.co.uk 16/09/2013)
(2) For the purposes of clarification, the current rent is £65,000 p.a.x rising annually by £2,500 p.a.x. until reaching £75,000 p.a.x. in 2017.
The seller has agreed to adjust the completion monies so that the unit will effectively produce £75,000 p.a.x. from completion of the sale. No rent free period was granted with the lease.
(3) The lease provides an option to determine on the 10th anniversary of the lease