High Street, Leatherhead

 

LOCATION

The premises are situated on the pedestrianised section of High Street north of the entrance to The Swan Centre shopping centre and close to Greggs, Subways and local operators. A number of coffee shops and eateries are close by and this unit could lend itself to numerous uses under the current ‘E’ use class. 

 

THE PROPOSAL

Robinsons are instructed to sell the freehold interest of this investment comprising of a ground floor ‘E’ Use Class unit currently let to charity ‘Books Beyond Words CIO’ (A charity) as a bookshop and reading training centre on a 5 year lease from 15.6.23 within the LTA 1954 at a commencing rent of £16,000 pax. Passing rent is now £16,480 pax and the lease has a annual CPI indexation rent adjustment with cap and collar (minimum of 2% and maximum of 3% per annum) . The lease provides for a Tenant break at the end of the third year of the term. The service charge is fixed at £1000 pa contribution for the element for which the shop is responsible. The commercial Tenant maintains internally plus shopfront and the Landlord undertakes external repairs to the building with the shop paying the fixed £1000pa contribution and the flat leaseholder paying a 50% share of the building and structure plus building insurance premium costs.

 

The flat is sold off on a 999 year lease granted from summer 2024 at a nil Ground Rent and bears a 50% share of the building repairs. The flat is currently sub let on an Assured Shorthold Tenancy.

 

THE SHOP

  

The unit is arranged as a smart modernised unit with a mix of open plan and private offices created by modern partitioning with modern open plan kitchenette to the rear plus store room and WC. The unit benefits from a 20ft wide traditional timber painted ¾ depth glazed shopfront which offers excellent display presence. Internally the unit benefits from suspended ceilings with light panels, grey finish hard floor. The unit is versatile and could suit numerous uses within the current ‘E’ use class if the premises required reletting in the future.

 

Approximate dimensions as follows:

 

Retail area              608 sq ft  (56.49m2 )

Internal width         19’ (5.79m) max narrowing to 17’ 4” (5.28m)

Internal depth        36’ (10.97m)

 

Approx net retail area :   608 sq ft    (56.49 m2)

 

 

THE FLAT

 

The self-contained residential flat is subject to a 999 year lease and is under let on an Assured Shorthold Tenancy by the leaseholder .

 

 

PRICE      

Offers in excess of £235,000 + VAT, for the freehold interest, subject to contract.

 

TENURE

Sale of freehold title held under title no SY714270 and subject to both the commercial lease granted for the ground floor element and 999 year lease granted from 2024 for the self-contained flat forming the upper parts.

SERVICES

The shop and flat have separated services and are responsible for respective costs other than water which is billed to the flat who then recovers costs from the commercial Tenant.

VAT

We are advised that the premises is elected for VAT.

 

 

COSTS

Each party are to be responsible for their own legal costs in the matter.

 

BUSINESS RATES & COUNCIL TAX

 

The commercial Tenant is responsible for Business Rates based on a Rateable Value of £16,500

 

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

 

EPC

EPC’s are available for this property.

Commerical unit  : D (96) valid until 10.9.27 A full copy of the EPC is available upon request.

The flat :              D (65) valid until 26.1.31 A full copy of the EPC is available upon request.

 

 

VIEWING

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

• • Versatile ‘E’ Use Class ground floor unit 608 sq ft with traditional timber shopfront currently subject to a 5 year lease at passing rent of £16,000 pax
• • Commercial Tenant is charity Books Beyond Words
• • Ideal mixed use town centre investment
• • Uppers form a self-contained flat sold off on a new 999 year lease from 2024