LOCATION
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.
DESCRIPTION
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.
ACCOMMODATION
Internal width
18’3”
(5.56m)
Overall depth
22’11”
(6.99m)
Ground Floor Sales Area 463sq ft (43m2)
Rear barn storage is approx 20’ x 16’9” with WC facilities internally
LEASE TERMS
The premises are available by way of 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 and a rent review pattern to be agreed. The current lease includes a Tenant break provision at 7.8.21
RENT
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 open market rent of £32,750.
VAT
The premises are not elected for VAT.
RATES
We are informed by Reigate & Banstead Borough Council that the property is assessed for rating purposes as follows:
Rateable Value: £13,000
USE
The premises falls under the commercial use class A1 (retail).
LEGAL COSTS
Each party to bear their own legal costs in the transaction.
EPC
An EPC is not applicable as the property is Grade II listed.
VIEWING
Strictly by prior appointment only through:
Steven J LaneFNAEA MICBA MARLA
ROBINSONS with Martin-Brown
01737 229200
