17 / 17a and 18 Clayton Court Downing Street Farnham Surrey GU9 7PB

17 / 17a and 18 Clayton Court
Downing Street
Farnham
Surrey
GU9 7PB

Freehold Retail and Office Centre Investment

Attractive Retail and Office Courtyard
Let to five tenants
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
Auction Venue
The Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG

Interested?

Expand
Photos
Map

Freehold Retail and Office Centre Investment

Attractive Retail and Office Courtyard
Let to five tenants
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

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

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.