Mixed Use Investment / Medium Term Development Opportunity
The site is located at the Ace of Spades roundabout adjacent to the A3 in an extremely prominent position. The roundabout is elevated above the A3 and provides access directly onto the northbound carriageway and A309 southbound. Access is also provided to Chessington via the A243, and Surbiton/Kingston to the north.
Additional DetailsData Room
A data room has been created containing various accompanying documents. Access to the data room can be requested via the agents.
UNIT TENANT AREA LEASE START LEASE EXPIRY RENT REVIEW CURRENT RENT P.A. Shell Garage Shell UK Ltd. 20/04/03 22/04/62 Peppercorn Unit A Bathstore 5,620 25/12/15 24/03/23 25/12/20 £65,000 Unit B DBIO limited (under offer) 3,390 TBC 24/3/23 N/A £35,000 Unit C Stallards Gym Ltd 2,200 26/06/16 25/06/25 26/02/20 £18,000 Unit D Topps Tiles (Multi Tile Ltd.) 12,800 06/06/13 05/05/23 06/06/18 £90,000 TOTAL 42,010 £208,000 p.a.
The property is elected for VAT, and it is anticipated that the sale will be treated as a transfer of going concern. (TOGC)
Offers in excess of £3 million for this excellent medium term redevelopment opportunity. A purchase at this figure represents a net initial yield of 6.51%, assuming purchaser’s costs of 6.45%.