103 High Street Banstead Surrey SM7 2NL - Propex

Prime Freehold Retail Investment for Sale103 High StreetBansteadSurrey SM7 2NL

LocationBanstead is an affluent commuter town in Surrey, located 11 km(7 miles) south west of Croydon, 16 km (10 miles) south east ofKingston-upon-Thames and 29 km (18 miles) south of CentralLondon.Communications are good with Banstead lying close to theA217, which provides dual carriageway access to the M25,some 8 km (5 miles) to the south, and north through CentralLondon and the national motorway network.Banstead Railway Station is located to the west of the towncentre and provides direct services to and from London Victoriawith a fastest journey time of 43 minutes.SituationThe High Street forms the prime retail thoroughfare withinBanstead and the property occupies a prime retailing pitch onthe northern side of the High Street, diagonally oppositeWaitrose and immediately opposite Tesco. The High Street isdominated by multiple retailers such as Marks & Spencer withoccupiers in the immediate vicinity including Specsavers,Superdrug, HSBC, Boots and Johnson Dry Cleaners.There is good car parking provision along the High Streetincluding a car park operated by Waitrose opposite providingsome 140 car parking spaces.DescriptionThe property comprises an attractive building providing a groundfloor lock up retail unit with a self contained three bedroommaisonette at first and second floor with its own self containedentrance from the rear which has been sold off.There is an unused independently accessed area to the rear of theproperty at first floor level which could be utilised for a variety ofuses subject to the appropriate planning permission being granted.Internally, the property has been fitted out by the tenant to a highstandard in their usual corporate style.AccommodationThe property provides the following net internal floor areas:*Independently accessed – not demised to the tenant.

TenureFreehold.There is a headlease of the upper parts, it is proposed that this issurrendered immediately before / simultaneously with completion ofthe sale.CovenantThe tenant, Boots Opticians Professional Services Limited (Co. No.6779221) has reported the following figures;TenancyThe ground floor is let to Boots Opticians Professional ServicesLimited, on a full repairing and insuring lease for a term of 10 yearsfrom 13th October 2006, expiring 12th October 2016 at a currentpassing rent of £34,000 per annum. The lease benefits from anupwards only rent review on 13th October 2011 which is in theprocess of being documented at nil increase. Based on our analysis,the passing rent equates to £53 Zone A.The ground rent of the maisonette is currently £150 per annum whichincreases by £150 every 25 years.Therefore, the total current passing rent is £34,150 per annum.The principal activity of the company is trading as ophthalmic anddispensing opticians.Formerly Dollond & Aitchison, the company merged with Boots in May2009. The new company, known as Boots Opticians, is jointly ownedby De Rigo and Alliance Boots and has approximately 700 branchesacross the UK, directly employing over 5,000 people. Dollond &Aitchison continues as the trading name of the Boots Opticians Group.It is envisaged that the Dollond & Aitchison branches will, in duecourse, adopt the Boots Opticians brand with the subject propertyhaving recently been re-branded.The company’s immediate parent undertaking is BootsValue Added TaxOptical Investment Holdings Limited and ultimatecontrolling party is AB Acquisitions Holdings Limited.The property has been registered for VAT. It is anticipated that thesale will be treated as a Transfer of a Going Concern (TOGC).

ContactSinger Vielle94-96 Wigmore Street dale@singervielle.co.ukLondon W1U 3RFTel: 020 7935 7200 richard@singervielle.co.ukFax: 020 7486 8511www.singerviellesales.com neil@singervielle.co.ukProposalOur client is seeking offers in the region of (Five HundredThousand Pounds), subject to contract, reflecting a net initial yield of.Investment ConsiderationsHarmer Ray HoffbrandPortland House4 Great Portland StreetLondon W1W 8QJTel: 020 7499 5399Fax: 020 7580 6291www.hrh.uk.comandrew@hrh.uk.comrichard@hrh.uk.comVendors SolicitorCannings Connolly16 St. Martin's-le-Grand vbates@cclaw.co.ukLondon EC1A 4EETel: 020 7003 8105Fax: 020 7329 5000DX 50 LondonSubject to Contract & Exclusive of VATSinger Vielle for themselves and for the Vendors or Lessors of this property whose Agents they are give notice that:1. The particulars are set out as a general outline only for the guidance of intending purchasers or lessees, and do not constitute, nor constitute part of, an offer or contract2. All descriptions, dimensions, references to condition and necessary permissions for use and occupation, and other details are given in good faith and are believed to be correct but any intending purchasers ortenants should not rely on them as statements or representations of fact but must satisfy themselves by inspection or otherwise as to the correctness of each of them.3. No person in the employment of Singer Vielle has any authority to make or give any representation or warranty whatever in relation to this property.4. All maps are for identification purposes only and should not be relied upon for accuracy.5. Unless otherwise stated, all prices and rentals quoted are exclusive of Value Added Tax to which they may be subject.Under no circumstances shall Singer Vielle be liable to you for any direct, indirect, consequential, incidental or special damages arising out of your purchase or lease of any Property.Unless otherwise stated, all prices and rents are quoted exclusive of VAT.These details are believed to be correct at the time of compilation, but may be subject to subsequent amendment.1. Under no circumstances shall we be liable to you for any direct, indirect, consequential, incidental or special damages arising out of your purchase or lease of any Properties on the Site.2. Under no circumstances shall we be liable for any errors or incompleteness of the information relating to any Property listed on this Site or if any Property has been withdrawn from sale or lease nor shall webe responsible for any inaccurate dimensions of any Properties or price listed.3. Our website service permits you to enquire about and to purchase or lease Properties appearing on or listed on this Site. Such enquiries, purchase or leasing can only be made andpermitted strictly subjectto the terms and conditions set out below.4. We do not accept responsibility or liability for the completeness or accuracy of information appearing on this Site which is provided by the Vendors or Lessors of the Propertyconcerned who are solelyresponsible for such information.5. Whilst we believe that the Properties listed are available for purchase or lease we make no guarantee that this is the case or that they have not been withdrawn by the Vendor orLessor of the same. All Properties appearing or listed on the Site are subject to changes, errors or omissions. We have not verified the accuracy of the information relating to theProperties or any dimensions which have been given by the Vendors or Lessors.6. All Properties are listed subject to contract and the prices shown are exclusive of VAT if applicable.