Attractive Restaurant Investment in Affluent London Suburb
Ground and Lower Ground let to Ask Restaurants Limited (t/a Zizzi) until 2033 (subject to option)
Forms part of the Surbiton Plaza mixed use development in town centre
Nearby occupiers include Sainsbury’s, Superdrug, Nationwide and Costa Coffee
Six Week Completion Available
Lot 20
Auction 18th October 2012
Rent £85,000 per Annum Exclusive
Status Withdrawn Post
Price
Sector Restaurant
Auction Venue Millennium Hotel 39-44 Grosvenor Square London W1K 2HP
On Behalf of Joint LPA Receivers, Jones Lang LaSalle
Property Information
Location
Miles
10 miles west of Croydon, 12 miles south-west of Central London
Roads
A3, A309
Rail
Surbiton Rail Station (17 minutes to London Waterloo)
Air
London Heathrow.
Situation
The property is situated on the northern side of Victoria Road within a Conservation Area in Surbiton town centre. The property forms part of Surbiton Plaza, a mixed residential and commercial scheme (www.surbitonplaza.co.uk). Nearby occupiers include Sainsbury’s, Superdrug, Nationwide and Costa Coffee.
Tenure
Virtual Freehold. of ground and lower ground floors. Held for a term of
999 years until 3011 at a peppercorn ground rent.
Location
Miles
10 miles west of Croydon, 12 miles south-west of Central London
Roads
A3, A309
Rail
Surbiton Rail Station (17 minutes to London Waterloo)
Air
London Heathrow.
Situation
The property is situated on the northern side of Victoria Road within a Conservation Area in Surbiton town centre. The property forms part of Surbiton Plaza, a mixed residential and commercial scheme (www.surbitonplaza.co.uk). Nearby occupiers include Sainsbury’s, Superdrug, Nationwide and Costa Coffee.
Tenure
Virtual Freehold. of ground and lower ground floors. Held for a term of
999 years until 3011 at a peppercorn ground rent.
Description
The property comprises a restaurant over ground and lower ground floors.
NB. This property is being marketed on behalf of Joint Law of Property Act Receivers and therefore no warranties or guarantees in any respect, including VAT, can be given. The LPA Receivers are not bound to accept the highest or any offer and are acting without personal liability.
VAT
VAT is applicable to this lot.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property comprises a restaurant over ground and lower ground floors.
NB. This property is being marketed on behalf of Joint Law of Property Act Receivers and therefore no warranties or guarantees in any respect, including VAT, can be given. The LPA Receivers are not bound to accept the highest or any offer and are acting without personal liability.
VAT
VAT is 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 Lower Ground
Restaurant Restaurant
261.35 sq m 124.31 sq m
(2,813 sq ft) (1,338 sq ft)
ASKRESTAURANTSLIMITED (1) T/AZIZZI
25 years from 25/02/2008 until 24/02/2033 on a full repairing and insuring lease (2)
£85,000
15/02/2013 and five yearly thereafter
Totals
385.66 sq m
(4,151 sq ft)
£85,000
(1) For the year ending 26th June 2011, Ask Restaurants Limited reported a turnover of £193,348,000, pre-tax profits of £16,997,000 and a total net worth of £130,453,000. (Source: www.riskdisk.com 17/09/2012) (2)The lease provides a tenant’s option to determine on 25th February 2023.
Contacts
Seller's Solicitors
Glovers Solicitors LLP 6 York Street London W1U 6QD 020 7486 7666
