9 High Street Cobham Surrey KT11 3DJ

9 High Street
Cobham
Surrey
KT11 3DJ

Freehold Retail Investment in Affluent Surrey Commuter Town

Let to Nero Holdings Limited trading as Caffe Nero
New 10 year lease from January 2020 (no breaks)
Prominent location in highly affluent Surrey commuter town
Nearby occupiers include Cote Brasserie, Crew Clothing, Sainsbury's Local, Sweaty Betty and Mint Velvet

Lot
8
Auction
28th October 2020
Rent
£67,500 per Annum Exclusive
Status
Withdrawn Post
Price
Sector
High Street Retail
Auction Venue
Live Streamed Auction

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Freehold Retail Investment in Affluent Surrey Commuter Town

Let to Nero Holdings Limited trading as Caffe Nero
New 10 year lease from January 2020 (no breaks)
Prominent location in highly affluent Surrey commuter town
Nearby occupiers include Cote Brasserie, Crew Clothing, Sainsbury's Local, Sweaty Betty and Mint Velvet

Lot 8
Auction 28th October 2020
Rent £67,500 per Annum Exclusive
Status Withdrawn Post
Price
Sector
High Street Retail
Auction Venue
Live Streamed Auction

Property Information

Location

Miles: 18 miles south-west of Central London; 10 miles north-east of Guildford
Roads: A3, M25
Rail: Cobham & Stoke DAbernon
Air: London Gatwick

Situation

Cobham is an affluent and attractive Surrey commuter town, located approximately 18 miles south-west of Central London. The town benefits from excellent transport links to the A3 and M25 (J10). The property is located in a prominent position on the east side of High Street. Nearby occupiers include Cote Brasserie, Crew Clothing, Sainsbury's Local, Sweaty Betty and Mint Velvet.

Tenure

Freehold.

Location

Miles: 18 miles south-west of Central London; 10 miles north-east of Guildford
Roads: A3, M25
Rail: Cobham & Stoke DAbernon
Air: London Gatwick

Situation

Tenure

Freehold.

Description

The property comprises a coffee shop arranged on the ground floor only, benefitting from a rear yard with seating. The upper floors are let on a long lease.

VAT

VAT is applicable to this lot.

Completion Period

Six Week Completion

EPC

Band E. See legal pack at www.acuitus.co.uk.

Description

The property comprises a coffee shop arranged on the ground floor only, benefitting from a rear yard with seating. The upper floors are let on a long lease.

VAT

VAT is applicable to this lot.

Completion Period

Six Week Completion

EPC

Band E. See legal pack at www.acuitus.co.uk.

Tenancy & Accommodation

Floor	Use	Floor Areas (Approx)		Tenant	Term	Rent p.a.x	Review
Ground	Retail	135.49 sq m	(1,458 sq ft)	NERO HOLDINGS LIMITED t/a Caffe Nero (1)	10 years from 20/01/2020 until 19/01/2030 on a full repairing and insuring lease	£67,500 (2)	20/01/2025
First/ Second	Residential	-	(-)	P. J. SEATON	125 years from 24/06/2013 until 23/06/2138	£125
Total		135.49 sq m	(1,458 sq ft)			£67,625

(1) For the year ending 31st May 2019, Nero Holdings Limited reported a turnover of 292,569,000, pre-tax profits of 23,089,000 and shareholders funds of 264,442,000 (source: SmartSearch 02/10/2020).
(2) Under the terms of the lease, the tenant benefits from a rent free period until 19th October 2020. The rent then rises to 62,500 pa until January 2022, after which the rent rises to 65,000 pa until January 2023, after which the rent rises to 67,500 pa. The Vendor has agreed to adjust the completion monies so that the property produces 67,500 pa from completion until the fixed rental uplift in January 2023.

If you are the successful bidder, Acuitus requires a separate payment of £1,500+VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.