High Street, Dorking

LOCATION

The premises are situated in the prime section of Dorking High Street and close to Boots, Starbucks, WH Smith and opposite Sainsbury’s, Robert Dyas and Waterstones.

ACCOMMODATION

The investment comprises of these premises which form a ground floor retail shop with rear ancillary stores and kitchen with WC plus internal access to the basement trading as Tikka Nation hot food operator, and a delightful two bedroom split level flat over the first and second floors forms the upper parts. The property is of traditional brick construction under a tiled roof and is Grade II Listed and within the conservation area.

The Shop

The ground floor and basement is currently let to Food Cloud Ltd trading as Tikka Nation restaurant and forms a ground floor unit with retail area of approx 770 sq ft (71.54 sq m) plus basement storage of 205 sq ft (19.04 sq m) together with a kitchen and WC. There is off road parking for two cars at the rear.

The shop is subject to a lease granted for a term of 10 years from 21.5.21 on an effectively full repairing and insuring lease within the LTA 1954 security provisions at a passing rent of £17,000 pax with an upward only rent review at the end of the fifth year and mutual Landlord and Tenant break provision at the end of the fifth year of the term.

The Flat

The upper parts form one bright and spacious two bedroom self-contained split level flat (approx. 958 sq ft) with its own ground floor street entrance from the High Street. The flat has a super living room to the front, modern refitted kitchen to the rear, modern bathroom with shower cubicle and bath tub and two double bedrooms on the second floor. The flat is subject to an Assured Shorthold Tenancy renewed for a fixed term of twenty four months from 31.5.23 at a rent of £1200.00 pcm for the first year rising to £1225.00 pcm from 31.5.24. All tenancy documentations are available to review upon request.

There is off-road parking for two cars at the rear.

TENURE

A sale of the freehold interest under Title No SY627064 subject to the commercial lease on the shop and Assured Shorthold Tenancy on the flat. A copy of the commercial lease and all tenancy documentations are available to review upon request.

GUIDE PRICE

Offers in the region of £495,000 for the freehold interest under Title no SY627064 and subject to the existing leases.

VAT

We are advised that the premises is not elected for VAT at present.

COSTS

Each party are to bear their own legal costs in the transaction.

BUSINESS RATES

From internet enquiries only the business rate assessment is as follows:

Rateable Value                            £27,750

Uniform Business Rate                £0.49.9 (April 2023 – March 2024)

Interested parties should verify this information and any transitional adjustments prior to entering into any contract.

EPC

Shop and basement has been rated D (90) and remains valid until 9.4.28  . A full copy of the EPC is available upon request.

The flat hasa valid exemption certificate as it is a Listed Building andbeen rated G (45) and remains valid until 10.5.28. A full copy of the EPC is available upon request.

VIEWING

Strictly by appointment with the Landlord’s Sole Agents Robinsons, telephone 01306 884685.

• Fully let mixed use investment in the heart of Dorking High Street
• Shop subject to a 10 year lease from 21.5.21 at a passing rent of £17,000 pax
• Self-contained split level flat in smart and modern condition subject to a fixed term two year AST @ £1200 pcm rising to £1225 pcm.
• Grade II Listed character building within the conservation area
• Total income £31,400 pa