ADDRESSSurbiton Plaza II, 39 Victoria Road, Surbiton, KT6 4EW
TYPERetail, Retail - High Street
POSTED ON7th November 2019
The property comprises a self-contained, ground floor unit of a modern mixed use development benefiting from a prominent double fronted unit with a return frontage. One allocated car parking space is provided in the basement car park beneath the development.
Surbiton is an affluent Greater London commuter town situated in the Royal Borough of Kingston upon Thames. Prime trading location situated opposite a Sainsbury’s main store. Self contained ground floor premises comprising approx. 1,235 sq ft (114.75 sq m) with one parking space. Let to Princess Alice Hospice (Company No 1599796), a Registered Charity with some 28 retail units mainly located in Greater London and Surrey. An FR&I lease for a term of 15 years from 2nd February 2018 inside the Act, incorporating a tenant’s only break option at the end of the 10th year of the term, subject to no less than 6 months’ prior written notice. Rent £47,000 pa exclusive. 5 yearly upward only rent reviews to open market rent. 999 year long leasehold interest from 19th April 2018 with a peppercorn ground rent. The property is not elected for VAT. We are instructed to seek offers in excess of £875,000 (Eight Hundred and Seventy-Five Thousand Pounds) subject to contract reflecting a net initial yield in the region of 5% assuming purchaser’s costs of 5.75%.
Surbiton Plaza II, 39 Victoria Road, Surbiton, KT6 4EWGBSurreyKT6 4EWSurbiton Plaza II, 39, Victoria Road