Entirely let to Starbucks Coffee Company (UK) Limited on a New 15 Year Lease until 2028 with no rent free period
Located at busy Wisley North Service Station on A3 Carriageway, close to the M25
Nearby occupiers include BP, M&S Food, Wild Bean Café and Little Chef
Six Week Completion
Lot 5
Auction 17th October 2013
Rent £75,000 per Annum Exclusive
Status Sold
Price £1,050,000
Sector High Street Retail
Auction Venue The Millennium Hotel 44 Grosvenor Square Mayfair London W1K 2HP
Property Information
Location
Miles
2 miles south-east of Woking, 8 miles north-east of Guildford
Roads
A3
Rail
Horsley Rail
Air
London Heathrow, London Gatwick
Situation
The property is situated in a busy location at Wisley North Service Station, being the last service station northbound on the A3 carriageway before the M25 and London. Other retailers at the service station include BP, M&S Food and Wild Bean Café, with Little Chef adjacent, at the southbound service station.
Tenure
Freehold.
Location
Miles
2 miles south-east of Woking, 8 miles north-east of Guildford
Roads
A3
Rail
Horsley Rail
Air
London Heathrow, London Gatwick
Situation
The property is situated in a busy location at Wisley North Service Station, being the last service station northbound on the A3 carriageway before the M25 and London. Other retailers at the service station include BP, M&S Food and Wild Bean Café, with Little Chef adjacent, at the southbound service station.
Tenure
Freehold.
Description
The property comprises a single storey retail unit with ancillary/storage accommodation to the rear. The property also benefits from on-site parking for approximately 30 cars.
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 single storey retail unit with ancillary/storage accommodation to the rear. The property also benefits from on-site parking for approximately 30 cars.
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
Retail
359.30 sq m
(3,868 sq ft)
STARBUCKS COFFEE COMPANY (UK) LIMITED (1)
15 years from 29/09/2013 until 28/09/2028 on a full repairing and insuring lease (2)(3)
£75,000
29/09/2018 and 29/09/2023
Totals
359.30 sq m
(3,868 sq ft)
£75,000
(1) Starbucks operates in over 50 countries and has a total of 17,009 stores (as at January 2 2011) (Source: www.starbucks.co.uk 16/09/2013) (2) For the purposes of clarification, the current rent is £65,000 p.a.x rising annually by £2,500 p.a.x. until reaching £75,000 p.a.x. in 2017. The seller has agreed to adjust the completion monies so that the unit will effectively produce £75,000 p.a.x. from completion of the sale. No rent free period was granted with the lease. (3) The lease provides an option to determine on the 10th anniversary of the lease
Contacts
Seller's Solicitors
Solomon Taylor & Shaw Solicitors 3 Coach House Yard, Hampstead High Street London NW3 1QF
