Close to The Borough, West Street and Lion & Lamb Yard
Affluent and Historic Surrey Commuter Town
Rent £86,000 per annum exclusive rising to £90,000 per annum in December 2016
For the Seller's Legal Pack, please click the Property Documents tab below
Lot 46
Auction 19th May 2016
Rent £86,000 per Month
Status Sold
Price £1,040,000
Sector High Street Retail
Auction Venue The Radisson Blu Portman Hotel 22 Portman Square London W1H 7BG
Property Information
Location
Miles
7 miles south of Farnborough, 9 miles west of Guildford, 40 miles south-west of Central London
Roads
A3, A31, A287, A325, M3
Rail
Farnham Railway Station
Air
Heathrow Airport, Gatwick Airport
Situation
Farnham is an affluent Surrey commuter town to the west of Guildford. The property is prominently situated on the western side of Downing Street, close to its junction with Upper Church Lane and a short walk from The Borough, West Street, and Lion & Lamb Yard. Nearby retailers include Fat Face and Crew Clothing with Jojo Maman Bébé, White Stuff, Moss Bros, Prezzo, Maison Blanc and Boots the Chemist among other retailers also represented within the town.
Tenure
Freehold.
Location
Miles
7 miles south of Farnborough, 9 miles west of Guildford, 40 miles south-west of Central London
Roads
A3, A31, A287, A325, M3
Rail
Farnham Railway Station
Air
Heathrow Airport, Gatwick Airport
Situation
Farnham is an affluent Surrey commuter town to the west of Guildford. The property is prominently situated on the western side of Downing Street, close to its junction with Upper Church Lane and a short walk from The Borough, West Street, and Lion & Lamb Yard. Nearby retailers include Fat Face and Crew Clothing with Jojo Maman Bébé, White Stuff, Moss Bros, Prezzo, Maison Blanc and Boots the Chemist among other retailers also represented within the town.
Tenure
Freehold.
Description
The property comprises a popular courtyard development with a mix of retail and office units. The retail units front onto Downing Street and the offices (known as Merton House and The Old Bakehouse) are at the rear arranged within the small courtyard.
Six Week Completion
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 popular courtyard development with a mix of retail and office units. The retail units front onto Downing Street and the offices (known as Merton House and The Old Bakehouse) are at the rear arranged within the small courtyard.
Six Week Completion
VAT
VAT is applicable to this lot.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Tenancy & Accommodation
Unit No.
Floor
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x
Review/(Reversion)
17
Ground
Retail/Ancillary
54.10 sq m
(582 sq ft)
ZAPITA LIMITED(1) (t/a Zapita Shoes)
10 years from 01/03/2011
£20,000
(28/02/2021)
17A
Ground First
Retail Retail/Ancillary
49.80 sq m 102.50 sq m
(536 sq ft) (1,103 sq ft)
S.R. & A.J. DYCHE (t/a The Frame Centre)(2)
21 years from 25/03/1997
£32,000
(24/03/2018)
18
Ground First/Second
Retail/ Ancillary Ancillary
42.10 sq m 45.10 sq m
(453 sq ft) (485 sq ft)
C. ALDERS, S. V. PRONI &E. A. PRONI (t/a The Downing Street Deli)(3)
10 years from 09/11/2015(4)
£19,000
09/11/2020 (08/11/2025)
Merton House
Ground & First
Offices/Ancillary
76.40 sq m
(822 sq ft)
AVELEY CONVEYANCING LIMITED
3 years from 24/12/2016(5)
£7,500 rising to £11,500 on 24/12/2016
(23/12/2019)
The Old Bakehouse
Ground & First
Offices/Ancillary
43.60 sq m
(469 sq ft)
C. J. POWELL (t/a Powell Messenger & Co.)
5 years from 24/06/2014(6)
£7,500
(23/06/2019)
Totals
413.42 sq m
(4,450 sq ft)
£86,000 rising to £90,000 in December 2016
(1) A rent deposit of £5,000 is held by the vendor. (2) The Frame Centre currently trade from 4 other locations in Fleet, Guildford, Petersfield and Camberley (Source: www.theframecentre.co.uk 04/04/2016). (3) A rent deposit of £5,700 is held by the vendor. (4) The lease provides for a tenant option to determine on 9th November 2017. The lease is subject to a schedule of condition. (5) A reversionary lease has just been completed for a term of 3 years from 24/12/2016 at a new rent of £11,500 per annum. The lease is contracted outside of the Security of Tenure Provisions of the Landlord & Tenant Act 1954. (6) The lease is subject to tenant break options on 23rd June 2017 and 23rd June 2018, subject to 6 months notice. The tenant break option on 23rd June 2016 was not exercised.
