Approx. 2,634 sq ft Restaurant Unit with Two Bedroom Maisonette
Entirely let to Carluccio's Limited with upcoming important 2017 rent review
Asset Management Potential
Attractive and prosperous London commuter town
Nearby occupiers include Marks & Spencer, Boots the Chemist, Prezzo and Ask Italian
For the Seller's Legal Pack, please click the Property Documents tab below
Lot 4
Auction 25th May 2017
Rent £57,500 per Annum Exclusive
Status Sold
Price £1,300,000
Sector Restaurant
Auction Venue The Radisson Blu Portman Hotel 22 Portman Square London W1H 7BG
Property Information
Location
Miles
5 miles east of Dorking, 20 miles south of Central London
Roads
A25, A217, M25 (Junction 8)
Rail
Reigate Railway Station
Air
London Gatwick Airport (6 miles south)
Situation
Reigate is a popular commuter town in the affluent county of Surrey some 20 miles south west of Central London. The property is prominently situated on the northern side of High Street, in the heart of Reigate town centre. Nearby retailers include Marks & Spencer and Boots the Chemist with Ask Italian and Prezzo restaurants located close by. Costa Coffee, Caffè Nero, Café Rouge and Pizza Express are also represented within the town.
Tenure
Freehold.
Location
Miles
5 miles east of Dorking, 20 miles south of Central London
Roads
A25, A217, M25 (Junction 8)
Rail
Reigate Railway Station
Air
London Gatwick Airport (6 miles south)
Situation
Reigate is a popular commuter town in the affluent county of Surrey some 20 miles south west of Central London. The property is prominently situated on the northern side of High Street, in the heart of Reigate town centre. Nearby retailers include Marks & Spencer and Boots the Chemist with Ask Italian and Prezzo restaurants located close by. Costa Coffee, Caffè Nero, Café Rouge and Pizza Express are also represented within the town.
Tenure
Freehold.
Description
The property comprises a double fronted ground floor restaurant with ancillary accommodation on part first floor. There is also a two bedroom maisonette on part first and second floors currently accessed from the rear.
VAT
VAT is applicable to this lot.
Completion Period
Six Week Completion
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property comprises a double fronted ground floor restaurant with ancillary accommodation on part first floor. There is also a two bedroom maisonette on part first and second floors currently accessed from the rear.
VAT
VAT is applicable to this lot.
Completion Period
Six Week Completion
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
Review
Ground Part First Part First/Second
Restaurant Ancillary Residential
203.55 sq m 41.15 sq m Two Bedroom Maisonette
(2,191 sq ft) (443 sq ft)
CARLUCCIO'S LIMITED (1)
25 years from 29/09/1997 until 28/09/2022 on a full repairing and insuring lease
£57,500
29/09/2017
Total Commercial Area
244.70 sq m
(2,634 sq ft)
£57,500
(1) For the year ending 27th September 2015, Carluccio's Limited reported a turnover of £137,793,000, pre-tax profits of £5,209,000 and a total net worth of £46,401,00 (Source: Experian Group 19/04/2017). Carluccio’s is the premium Italian casual dining restaurant group who have over 100 restaurants nationwide (Source: http://www.carluccios.com 20/04/2017)
Contacts
Seller's Solicitors
Russell Cooke Solicitors Bishops Palace House Kingston upon Thames Surrey KT1 1QN
