19 Market Place Kingston upon Thames Surrey KT1 1JP

19 Market Place
Kingston upon Thames
Surrey
KT1 1JP

Freehold Retail Investment

Let to Reiss Limited on a recently renewed 10 year lease (no breaks)
Affluent South West London university town some 11 miles from Central London
Prominent corner position on the pedestrianised Market Place
Nearby occupiers include Cath Kidston, Whistles, Lush and Jack Wills

Lot
7
Auction
19th October 2017
Rent
£119,500 per Annum Exclusive
Status
Sold
Price
£2,475,000
Auction Venue
The Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG
On behalf of Barts Charity

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Freehold Retail Investment

Let to Reiss Limited on a recently renewed 10 year lease (no breaks)
Affluent South West London university town some 11 miles from Central London
Prominent corner position on the pedestrianised Market Place
Nearby occupiers include Cath Kidston, Whistles, Lush and Jack Wills

Lot 7
Auction 19th October 2017
Rent £119,500 per Annum Exclusive
Status Sold
Price £2,475,000
Sector
High Street Retail
Auction Venue
The Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG
On behalf of Barts Charity

Property Information

Location

Miles: 11 miles south-west of Central London, 4 miles south of Richmond, 7 miles south-west of Clapham
Roads: A3, A307
Rail: Kingston Railway Station, Hampton Wick Railway Station
Air: London Heathrow Airport, London Gatwick Airport, London City Airport

Situation

Royal Kingston upon Thames is an affluent South West London suburb some four miles south of Richmond. The town benefits from being a major regional shopping destination and a university town. The property is located in Market Place where traditional markets are held six days a week. Nearby occupiers include Cath Kidston, Whistles, Lush and Jack Wills.

Tenure

Freehold.

Location

Miles: 11 miles south-west of Central London, 4 miles south of Richmond, 7 miles south-west of Clapham
Roads: A3, A307
Rail: Kingston Railway Station, Hampton Wick Railway Station
Air: London Heathrow Airport, London Gatwick Airport, London City Airport

Situation

Tenure

Freehold.

Description

The property comprises a ground floor retail unit with first floor sales and second floor ancillary accommodation. The property benefits from return frontage. The tenant also occupies the adjoining property, which does not form part of the sale, and has created internal access between the two properties. The customer staircase connecting ground and first floors is located within the subject property’s demise.

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

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 First Second	Retail Retail Ancillary	78.13 sq m 66.89 sq m 66.33 sq m	(841 sq ft) (720 sq ft) (714 sq ft)	REISS LIMITED (1)	10 years from 21/07/2017 until 20/07/2027	£119,500 (2)	21/07/2022
Total		211.35 sq m	(2,275 sq ft)			£119,500

(1) For the year ending 31st January 2016, Reiss Limited reported a turnover of £124,367,000, pre-tax profits of £17,822,000 and a total net worth of £32,247,000 (Source: Experian Group 18/08/2017). REISS has 135 stores globally (with over 80 in the UK), including shops in the United States, Ireland, United Arab Emirates, Hong Kong, Philippines, Holland, Russia and Canada (Source: www.reiss.com 04/09/2017).
(2) For the purposes of clarification, Reiss Limited is currently benefitting from a rent free period due to expire on 07/12/2017. The seller has agreed to adjust the completion monies so that the unit will effectively produce £119,500 p.a.x. from completion of the sale.