Eastgate House, 221 - 227 High Street, Guildford, Surrey, GU1 3BJ

  • Investment
  • o
  • 0 Sq ft
  • o
  • For Sale
  • o
  • Guide Price: £2,050,000

Key Points

Guildford Town Centre Retail Investment For Sale

  • Established Retail Location on Guildford High Street
  • Trading as William Hill, Magic Scissors & S & M Takeaway
  • £107,600 p.a. Rental Income
  • Strong Potential for Growth

Location

The premises are situated in Guildford town on the High Street in a strong secondary retailing pitch. Nearby occupiers include Jackson & Rye, KFC, Pizza Express, TSB, Knight Frank and Savills. Guildford mainline railway station is approximately 0.5 miles away and there is ample public parking nearby.

Description

The property comprises a substantial mid-terraced building arranged over ground and five upper floors. There are three retail units at ground floor level with separate rear access, as well as Residential accommodation above providing thirty-two flats sold off on a long lease.

Accommodation

The net internal areas are approximately as follows:

221 High Street
Net Internal Area 120.3 sq m 1,295 sq ft
ITZA Area 60.48 sq m 651 sq ft

225 High Street
Net Internal Area 28.80 sq m 310 sq ft
ITZA Area 25.5 sq m 275 sq ft

227 High Street
Net Internal Area 28.5 sq m 307 sq ft
ITZA Area 25.1 sq m 270 sq ft

Eastgate House
Upper parts forming thirty two flats.

Rates

221 - Rateable Value: £52,000 (2017/18)
225 - Rateable Value: £16,750 (2017/18)
227 - Rateable Value: £21,000 (2017/18)

EPC

Rating: Separately assessed.

Price

Guide Price: £2,150,000.

Tenure

The freehold interest is available subject to the below tenancies; more information can be provided on request.


221 High Street is let to William Hill Organization Ltd on a 20 year FRI lease inside the 1954 Landlord & Tenant Act from 30/06/2006 with 5 yearly reviews and no further breaks. Current passing rent is £62,500 p.a. (set 30/06/16) or £96.01 psf ITZA.

225 High Street is let to Dilshad Noori on a 15 year FRI lease inside the 1954 Landlord & Tenant Act from 13/02/2009 with 4 yearly rent reviews and no breaks. Current passing rent is £22,500 p.a. at £81.82 pfs ITZA.

227 High Street is let to Sir and Madam Ltd on a 15 year FRI lease outside the 1954 Landlord and Tenant Act from 19/12/14 with a rent review and break in year 5. Current passing rent is £22,000 p.a. or £81.48 psf ITZA. On 19/12/18 the rent increases to £24,000 p.a. until review.
Eastgate House is sold off on a long lease dated 01/01/2007 expiring 24/06/2168 (1st years unexpired). Current Ground Rent is £600 p.a.

Legal Costs

Both parties to bear their own legal costs incurred in the transaction.

Alex  Bellion

Alex Bellion
BSc (Hons) MRICS
07971 756068

X
I agree with the website terms of use