The premises are set in a prime position in the centre of Reigate High Street on the southern side of the street. Traders in the immediate vicinity include Marks & Spencer food store adjacent, Crew Clothing, Monsoon, Mint Velvet, and many other small individual retailers plus ASK, Carluccio’s just a few doors away.
The accommodation comprises a ground floor retail unit with separate rear barn as storage/WC facility with sink and tea point, currently trading as a homewares shop. The traditional timber shop front and quaint old building adds to the street appeal.
Ground Floor Sales Area 463sq ft (43m2)
Rear barn storage is approx 20’ x 16’9” with WC facilities internally
The premises are available by way of either a sub lease until 1.7.21 or an assignment of the existing full repairing and insuring lease granted for a term of ten years from 7.8.14 at the passing rent of £28,500 pa (following recent review). Alternatively, the Landlord may agree to offer a new full repairing and insuring lease on market terms at £28,500pa and a rent review pattern to be agreed. The current lease includes a Tenant break provision at 7.8.21
WE BELIEVE THAT THE CURRENT TENANT WOULD OFFER INCENTIVES/DISCOUNTS TO A NEW OCCUPIER IF POSSESSION WAS TAKEN SWIFTLY
Assignment on the passing rent of £28,500 per annum exclusive of rates and services subject to contract. A new lease would be available at £28,500pa
We are informed by Reigate & Banstead Borough Council that the property is assessed for rating purposes as follows:
Rateable Value: £13,000
The premises are not elected for VAT.
The premises falls under the commercial use class A1 (retail).
Each party to bear their own legal costs in the transaction.
An EPC is not applicable as the property is Grade II listed.
Strictly by prior appointment only through:
Steven J LaneFNAEA MICBA MARLA
ROBINSONS with Martin-Brown