Entirely let to Thomas Hogg & Son Ltd until December 2066
Sublet to Telefonica UK Limited, t/a O2, at a current rent of £65,000 p.a.x.
Nearby occupiers include Boots, Marks & Spencer, W H Smith and Carphone Warehouse
Six Week Completion Available
Lot 4
Auction 10th July 2012
Rent £35,131 per Annum Exclusive
Status Sold
Price £580,000
Sector High Street Retail
Auction Venue Millennium Hotel 39-44 Grosvenor Square London W1K 2HP
On Behalf of a Major Fund
Property Information
Location
Miles
4.6 miles south of Wimbledon, 7 miles west of Croydon, 12 miles south of Central London
Roads
A232, A217, M25, M23
Rail
Sutton (Surrey) Railway Station
Air
London Gatwick Airport
Situation
The property is situated in a prominent location on the western side of the pedestrianised High Street, Suttons prime retailing area. The property lies diagonally opposite an entrance to St Nicholas Shopping Centre which houses various retailers including HMV, NatWest, Debenhams and JJB Sports. Other nearby occupiers include Boots, Marks & Spencer, W H Smith and Carphone Warehouse.
Tenure
Freehold.
Location
Miles
4.6 miles south of Wimbledon, 7 miles west of Croydon, 12 miles south of Central London
Roads
A232, A217, M25, M23
Rail
Sutton (Surrey) Railway Station
Air
London Gatwick Airport
Situation
The property is situated in a prominent location on the western side of the pedestrianised High Street, Suttons prime retailing area. The property lies diagonally opposite an entrance to St Nicholas Shopping Centre which houses various retailers including HMV, NatWest, Debenhams and JJB Sports. Other nearby occupiers include Boots, Marks & Spencer, W H Smith and Carphone Warehouse.
Tenure
Freehold.
Description
The property comprises a ground retail unit with additional basement storage accommodation and a self-contained three bedroom residential flat on first and second floors accessed from the rear.
VAT
VAT is not applicable to this lot.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property comprises a ground retail unit with additional basement storage accommodation and a self-contained three bedroom residential flat on first and second floors accessed from the rear.
VAT
VAT is not applicable to this lot.
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
Reviews
Ground Basement First Second
Retail Storage Residential Residential
175.13 sq m 10.73 sq m
(1,885 sq ft) (115 sq ft)
THOMAS HOGG & SONLIMITED (1) sublet toTelefonica UK Limited(t/a O2) (2) (3)
99 years from 13/12/1967 until 12/12/2066 on a full repairing and insuring lease
£35,131.12
29/09/2023 and 14 yearly thereafter (4)
Not Measured Not Measured
Totals
185.86 sq m
(2,000 sq ft)
£35,131.12
(1) Thomas Hogg & Son Ltd were established in 1865 and are based in Reigate. (Source: www.thomashogg.co.uk 12/06/2012) (2) The sublease to Telefonica UK Limited is for a term of 10 years from and including 19th May 2002 at a rent of £65,000 p.a.x. A new lease has been proposed for a 10 year term at £50,000 p.a.x. with a tenant’s option to determine in the 5th year. (3) The tenant has sublet the residential flat on an Assured Shorthold Tenancy. (4) The rent is reviewed to 20/37ths of the open market rental value. Please see legal documentation for further information.
