lot 39 -epsom

LOT 39 - EpsomCommercial Auction - 6th May 2021

Freehold Shop and Office Investment with Prior Approval for 10 flats above30-32 High Street, Epsom, Surrey, KT19 8AH

LOT 39 - EpsomFreehold Shop and Office Investment with Prior Approval for 10 flats above

30-32 High Street, Epsom, Surrey, KT19 8AH

GUIDE PRICE *

£2M+Gross Initial Yield 7.77%

Commercial - 6th May 2021

Online

Bidding will open at 11.00 am for ALL lots. Lot 1 closes from 12.00 midday

Key Features

• Comprising two ground floor shops and three floors of offices above accessed from theHigh Street

• Accommodation extending to 893.95 sq m (9,622 sq ft)

• Recent Prior Approval for 10 flats with potential for more

• Affluent town centre location close to McDonald's, Ryman's, Betfred, Subway andSpecsavers

• Vacant third floor offices of 1,049 sq ft

• VAT is applicable

• Six Week Completion Available Total Current Rent Reserved

£155,400 p.a.plus vacant offices

Tenure

Freehold

Location

Epsom is a very affluent commuter town located approximately 16 miles south-west ofcentral LondonThe town benefits from good road communications being 4 miles north-east of Junction9 of the M25 MotorwayEpsom Rail Station is located some 350m from the property with regular services toLondon Waterloo (39 minutes)The property is situated on the north side of High Street in the heart of the town centreOccupiers close by include Ryman's (adjacent), McDonald's, KFC, Subway, RobertDyas, Betfred and GuitarGuitar amongst others

Additional Information

• The offices are accessed via a self-contained entrance from High Street, and benefitfrom air conditioning

Planning

• Prior approval was granted on 22nd March 2021 for the change of use of the upperfloors to provide 10 flats, under application 21/00144/PDCOU

Full details and plans can be found in the legal pack and at https://www.epsom-ewell.gov.uk/

VAT - VAT is applicable to this lot.

Lot 39, Commercial Auction - 6th May 2021 Date Printed: 26/04/2021 | of 14

Allsop

George Walker.Tel: 0207 543 6706Email: [email protected]

Sellers Solicitor

Lily Meyer.Morrisons SolicitorsEmail: [email protected]

Address Present Lessee Accommodation Lease Details Current Rent(PA)

Next Review / Reversion

30 Prestige Butchers Limited GroundFloor

114.27 sq m 1,230 sq ft 15 years from 22.01.2021Rent rises to £37,500 p.a. from2nd anniversaryRent review every 5th yearTenant break clause in 2031FR& I

£35,000 (1) p.a. Rent rising to £37,500 p.a.from 22.01.2023

Basement 75.7 sq m 815 sq ft

Subtotal 189.97 sq m 2,045 sq ft

32 Savers Health & Beauty Limited (with guarantee fromSuperdrug Stores plc) (2)

GroundFloor

202.57 sq m 2,180 sq ft 5 years from 22.05.2019FR& I

£58,000 p.a. Reversion 2024

Basement 72.9 sq m 785 sq ft

Subtotal 275.47 sq m 2,965 sq ft

First floor Oracle PR Limited (sub-let at passing rent)Rent Deposit £13,760

Offices 156.3 sq m 1,682 sq ft A term of years expiring14.07.2022 (3)

FR& I


Secondfloor

Oracle PR LtdRent Deposit £12,000

Offices 162.11 sq m 1,745 sq ft A term of years expiring14.07.2022 (3)

FR& I


Thirdfloor

Vacant Offices 97.5 sq m 1,049 sq ft

Rearstore

Vacant Rearstore

12.6 sq m 136 sq ft

Total 893.95 sq m 9,622 sq ft Total £155,400 p.a.

(1) Year 2 rent increases to £37,500 p.a. The tenants were granted a 7 month rent free period in lieu of fit out, which the seller will top up on completion.(2) For the year ending 28 December 2019 Savers Health & Beauty Limited reported a turnover of £569,734,000, pre-tax profit of £50,568,000, shareholders funds of £92,366,000 and a net worth of£17,125,000For the year ending 28 December 2019 Superdrug Stores plc reported a turnover of £1.303 Bn, pre-tax profit of £89.398M and a net worth of £176.179M (Source: Experian 16.04.2021)(3) The upper floor leases are contracted out of the Landlord and TenantAct 1954NB. Not measured by Allsop LLP. Floor areas provided by the Vendor.


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Disclaimer- - -Important notice - Pre-registration approval to bid, guide prices, reserves and additional chargesPlease note that charges and fees additional to the sale price might be payable by the successful buyer in respect of the Lot. Please read the information below and check the SpecialConditions of Sale, the Particulars of Sale and any addendum for the Lot before deciding whether or not to bid.Pre-registration approval to bidAllsop now require all bidders who wish to bid at our Auctions to register beforehand. All checks required by current anti-money laundering legislation must be satisfactorily completed as partof this process before prior approval to bid will be given. Please use the links on our website to pre-register.Following approval to bid, the buyer named in your registration cannot be changed without consent (for which a charge might be made).Guide Prices1. Where a guide price (or range of prices) is given, that guide is the minimum price at which (or range of prices within which) the seller might be prepared to sell on the date on which theguide price (or range of prices) is published. The guide price will normally be at or above any reserve price.2. The guide price may be subject to change up to and including the day of the auction. The latest published guide price (or range of prices) is displayed on our website and you are advised tocheck the website regularly for updates.3. All guide prices are Quoted "subject to contract".4. Please note the guide price for the Lot does not include:- any Buyers' Fee charged by the auctioneers;- VATon the sale price;- SDLT or any other Government taxes;- additional costs and fees charged by the seller or third parties that might apply to some Lots and/or some buyers.5. If a guide price is listed as "TBA", it means no guide price has been set at present. Please do not call our office about this - the guide price, or range of prices, will be published onlineimmediately it becomes available and you should check the auction website regularly for updates.Reserve Prices6. The reserve price is the minimum price at which the Lot can be sold.7. Whilst every effort is made to ensure that the advertised guide prices are up-to-date. it is possible that the reserve price set for any Lot may exceed the previously quoted guide price. Thisis because the seller may fix the final reserve price just before the Lot is offered for sale.Buyers' fees, Seller's fees and additional charges8. For each Lot, a Buyers' Fee is payable on the fall of the hammer to Allsop LLP as follows:Residential Auctions- Lots sold for £10,000 or more: Buyers' Fee of £1,250 inclusive of VAT- Lots sold for less than £10,000: Buyers' Fee of £250 inclusive of VATCommercial Auctions- All Lots: Buyers Fee £1,000 inclusive of VAT9. Additional charges and fees might be charged by the seller and/or other third parties. You are strongly advised to read the Special Conditions of Sale for the Lot prior to bidding to check forany additional charges and fees and to check the addendum which might also (but does not always) contain details of such amounts.10. VAT may be chargeable in addition to the sale price for the Lot. The Lot Particulars and/or the Special Conditions of Sale will indicate whether VAT applies.Other Matters11. Please note that lots may be sold or withdrawn at any time prior to auction.12. Please note that the amount of Bidder Security (payable on application to bid at the auction) and the Buyer's Fee may each be varied from the standard amounts quoted. Please refer tothe addendum, the Particulars and/or the conditions of sale.13. Street trader plans are reproduced with the consent of Experian Goad Limited. Experian Goad Digital Plans include mapping data licensed from Ordnance Survey with the permission ofthe Controller of Her Majesty's Stationery Office. © Crown Copyright and Experian Copyright. All rights reserved. Licence number PU 100017316. Location plans are reproduced from theOrdnance Survey mapping with the permission of Ordnance Survey on behalf of the Controller of Her Majesty's Stationery Office, © Crown copyright and Database Rights 2018 OS10006002014. The plans and photographs shown in the catalogue are included in order to assist you in locating the Lot in question. They are not necessarily drawn to scale and any arrows on plans orphotographs are merely to assist you in finding the Lot, not for the purpose of indicating legal boundaries.The Auctioneers cannot guarantee that any plans or photographs show the up to date position with regard to occupiers either for the Lot or for any other properties shown in such plans orphotographs.


lot 39 -epsom

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