91-99 High Street Pathtrace House Banstead Surrey SM7 2NL

91-99 High Street
Pathtrace House
Banstead
Surrey
SM7 2NL

Freehold Retail and Office Investment

Substantial mixed-use building with secure car park
Provides retail accommodation of 359.00 sq m (3,862 sq ft) and office accommodation of 544.05 sq m (5,877 sq ft)
Site Area of approximately 0.15 Ha (0.38 Acres)
Prominent and Busy High Street location
Affluent Surrey commuter town
Asset Management and Residential Change of Use Opportunities

Lot
12
Auction
13th July 2023
Rent
£194,925 per Annum Exclusive
Plus vacant first floor office
Status
Withdrawn Post
Price
Auction Venue
Live Streamed Auction

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Freehold Retail and Office Investment

Substantial mixed-use building with secure car park
Provides retail accommodation of 359.00 sq m (3,862 sq ft) and office accommodation of 544.05 sq m (5,877 sq ft)
Site Area of approximately 0.15 Ha (0.38 Acres)
Prominent and Busy High Street location
Affluent Surrey commuter town
Asset Management and Residential Change of Use Opportunities

Lot 12
Auction 13th July 2023
Rent £194,925 per Annum Exclusive Plus vacant first floor office
Status Withdrawn Post
Price
Sector
High Street Retail, Residential, Development
Auction Venue
Live Streamed Auction

Property Information

Location

Miles: 13 miles south of Central London, 7 miles south-east of Kingston upon Thames
Roads: A232, A217, M25 (Junction 8), M23 (Junction 8), M3
Rail: Banstead Railway Station
Air: London Gatwick Airport, London City Airport, London Heathrow Airport

Situation

Banstead is an affluent and popular Surrey commuter town, 5 miles north of J8 of the M25 and some 13 miles south of Central London. The property is situated on the north side of High Street (B2217), the primary retailing and leisure location in the town centre. Nearby occupiers include Waitrose Supermarket, Tesco Express, Starbucks, HSBC and Boots.

Tenure

Freehold.

Location

Miles: 13 miles south of Central London, 7 miles south-east of Kingston upon Thames
Roads: A232, A217, M25 (Junction 8), M23 (Junction 8), M3
Rail: Banstead Railway Station
Air: London Gatwick Airport, London City Airport, London Heathrow Airport

Situation

Tenure

Freehold.

Description

The property, a substantial mixed-use building comprises three ground floor retail units together with office accommodation on the upper two floors. The property benefits from a secure, gated car park to the rear of the property providing approximately 25 vehicle spaces as well as a roof terrace. The upper floors may be suitable for redevelopment and change of use subject to obtaining the necessary consents. The site area extends to approximately 0.15 Ha (0.38 Acres).

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

Unit	Floor	Use	Floor Areas Approx sq m	Floor Areas Approx sq ft	Tenant	Term	Rent p.a.x.	Rent Review
Unit 1	Ground	Retail	68.84	(740)	THE LEMON TREE LIMITED (1)	10 years from 25/03/2020 (4)	£25,000	25/03/2025
Unit 2	Ground	Retail	109.84	(1,182)	THE BUTCHERS BLOCK BANSTEAD LIMITED	15 years from 08/12/2021 until 07/12/2036 (5)	£30,000	08/12/2026 08/12/2031
Unit 3	Ground	Retail	180.32	(1,940)	SUPERDRUG STORES PLC (2)	5 years from 09/07/2019 (6)	£68,500
1st Floor Office	First	Office	280.70	(3,021)	VACANT POSSESSION
2nd Floor Office	Second	Office	263.35	(2,856)	TRG LOGISTICS LIMITED (3)	5 years from 30/08/2022 (7)	£71,425
Total Approximate Floor Area			903.05	(9,739) (8)			£194,925

(1) The Lemon Tree is a family-run award-winning gift shop. Established in 1997, you can find us on the High Street in Cobham, Reigate, Banstead and Dorking (www.thelemontreeshop.com).
(2) For the year ending 01/01/2022 Superdrug Stores PLC reported a Turnover of £1,167,828,000, a Pre-Tax Profit of £45,282,000 and a Net Worth of £203,997,000 (NorthRow 13/06/2023).
(3) Challenge-trg Group offers multi-service logistics solutions, providing temporary staffing, haulage and traction, bespoke training programmes and crisis management teams to the logistics and warehouse sector (www.challengetrg.co.uk)
(4) The lease provides for a tenant option to determine the lease on 25/03/2025 upon serving 9 months written notice.
(5) The lease provides for a tenant option to determine the lease on 08/12/2026 and 08/12/2031 upon serving 9 months written notice.
(6) The lease provides for a tenant option to determine the lease on 08/07/2024 upon serving 6 months written notice and provides for a penalty of 3 months rent if the break is exercised.
(7) The lease provides for a tenant option to determine the lease on 29/08/2025, if the break option is not exercised the tenant will benefit from a period of half rent between 29/09/2025 and 24/12/2025.
(8) The floor areas stated above are those published by the Valuation Office Agency (www.voa.gov.uk).

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.