85–87 Clarence Street Kingston Upon Thames Greater London KT1 1RB

85–87 Clarence Street
Kingston Upon Thames
Greater London
KT1 1RB

Retail and Residential Investment

Ground and first floors let to Pret a Manger (Europe) Ltd until 2028 (no breaks)
Prime pedestrianised retail position in the heart of the town centre
2023 Rent review
Neighbouring occupiers include HSBC, Starbucks, Greggs, Halifax, Lloyds Bank, McDonald's and The North Face

Lot
10
Auction
21st July 2021
Rent
£181,500 per Annum Exclusive
Status
Sold Prior
Price
Auction Venue
Live Streamed Auction
On behalf of a major fund

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Retail and Residential Investment

Ground and first floors let to Pret a Manger (Europe) Ltd until 2028 (no breaks)
Prime pedestrianised retail position in the heart of the town centre
2023 Rent review
Neighbouring occupiers include HSBC, Starbucks, Greggs, Halifax, Lloyds Bank, McDonald's and The North Face

Lot 10
Auction 21st July 2021
Rent £181,500 per Annum Exclusive
Status Sold Prior
Price
Sector
High Street Retail
Auction Venue
Live Streamed Auction
On behalf of a major fund

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 the heart of the town centre on a prominent corner position at the busy junction of the pedestrianised Clarence Street and the pedestrianised Castle Street, approximately 300 metres from Kingston Railway Station. Neighbouring occupiers include HSBC, Starbucks, Greggs, Halifax, Lloyds Bank, McDonald's and The North Face.

Tenure

Freehold. Majority Freehold. Small part leasehold on the third floor at 1 Castle Street. Held for a term of 99 years from 20/12/1979 at a peppercorn rent.

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. Majority Freehold. Small part leasehold on the third floor at 1 Castle Street. Held for a term of 99 years from 20/12/1979 at a peppercorn rent.

Description

The property comprises a substantial double fronted corner property with retail accommodation on the ground and first floor with residential accommodation on the second and third floors, which has been sold off on a long lease. The property also includes a small part leasehold of the third floor at 1 Castle Street.

VAT

VAT is applicable to this lot.

Completion Period

Six Week Completion

EPC

See legal pack.

Description

VAT

VAT is applicable to this lot.

Completion Period

Six Week Completion

EPC

See legal pack.

Tenancy & Accommodation

Floor	Use	Floor Areas (Approx)		Tenant	Term	Rent p.a.x	Review/ (Reversion)
Ground First	Retail Retail	153.15 sq m 154.37 sq m	(1,648 sq ft) (1,662 sq ft) (1)	PRET A MANGER (EUROPE) LTD (2)	15 years from 13/05/2013	£181,500	13/05/2023 (12/05/2028)
Second and Third	Residential	Four flats		BAYTI PROPERTIES LIMITED	999 years from 27/03/2015	Peppercorn	(26/03/3014)
1 Castle Street - Part Third	Storage	not measured		VACANT POSSESSION
Total Commercial Area		307.52 sq m	(3,310 sq ft)			£181,500

(1) The above floor areas have been published by the Valuation Office Agency at https://www.tax.service.gov.uk/business-rates-find/valuations/22321050000
(2) For the year ending 2nd January 2020, Pret A Manger (Europe) Ltd reported a turnover of £708,359,000 a pre-tax profit of negative £26,014,000 and shareholder funds of £364,731,000 (Source: NorthRow 22/06/2021).

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.