Investment 73 High Street, Epsom, Surrey, KT19 8DN
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73 High Street, Epsom, Mixed Use
Surrey, KT19 8DN
FOR SALE
Investment
PROPERTY SUMMARY COVENANT INFORMATION
Amplifon Ltd has 205 outlets in the UK. The Amplifon Group is a global brand with
Prime mixed use investment in strong town centre location
10,069 points of sale in 22 countries. For the year ended 31 December 2017 its parent
Ground floor retail, first floor office and second floor flat company, Amplifon UK Ltd reported a net profit of £7.7M and Total Shareholders
Epsom Train Station within 0.2 miles Funds of £52.5M.
Total income currently £51,270 pa rising to £52,020pa in September 2019 RENTAL COMPARABLES
Freehold Price £765,000 (subject to contract)
The passing rent of £37,000pa in respect of the ground floor shop devalues to £59.43
LOCATION Zone A based upon an ITZA of 622.5 units. We are aware of the following comparable
transactions nearby:
The property occupies an excellent location on the south side of the High Street within 200
Property Tenant Date Zone A Rate
metres of The Ashley Shopping Centre. Nearby occupiers include Mountain Warehouse,
Santander, Waterstones, Pret a Manger, CEX Entertainment Exchange, Ask, Store 21, 50 High Street Waterstones January 2017 £65.50
Poundland, Greggs, Fat Face & JD Sports. A street traders plan is available upon request. 59 High Street Post Office Nov 2017 £73.00
91 High Street Metro Bank June 2017 £86.00
Epsom is an affluent market town with a population of 31,489 (2011 Census) which is 131 High Street Four Eyes Opticians October 2018 £76.81
projected to see significant above average growth in population over the period 2017-22.
The town benefits from good road and rail connections being on the A24 with Junction 9 of TERMS
the M25 3.5 miles to the South West. Epsom Mainline Railway Station is within walking Offers in the region of £765,000 for the freehold interest and subject to the existing
distance providing regular services to Croydon and London. tenancies. A purchase at this level would reflect a current net initial yield of around
6.33% assuming usual purchaser’s costs.
DESCRIPTION
Subject to Contract
A three storey, mixed use building comprising a ground floor retail unit, self-contained first
floor office and a self-contained 2 bedroom flat on the second floor. The first and second VAT - VAT is not applicable to the purchase price.
floors are accessed from the rear. The property has the following net internal areas:
EPC - Ground Floor - E121 First Floor - E107 Second Floor - E49
Ground Floor Retail 1,042 sq.ft 96.80 sq.m
First Floor Office 376 sq.ft 34.93 sq.m LEGAL COSTS - Each party is to bear their own legal costs
Second Floor Self-contained flat comprising 2 bedrooms, living
room, kitchen and bathroom DECLARATION OF INTEREST Interested parties should note that Mr CHW Richards of
Rayners Commercial is a shareholder of the vendor company.
Tenancies
Current Rent Next Review /
Address Tenant Term Other
(pa) Reversion
10 years Effective full repairing and insuring terms.
Ground Floor 73 High Rent Review 22
Amplifon Ltd expiring 21 £37,000 The Landlord holds a rent deposit of £18,500. Tenant only break
Street July 2021
July 2026 option 22 July 2021
Term £5,750 with
Rent to increase
First Floor, 73 High Quality Line expiring 21 fixed uplift in Internal repairing and insuring terms
to £6,500pa on 22
Street Transport Ltd September September
September 2019
2024 2019
Second Floor, 73a High 1 year to 2 Tenancy renewal 2
An Individual £8,520 Assured shorthold tenancy
Street January 2020 January 2020
DISCLAIMER
Richards & Co (UK) Ltd trading as Rayners Commercial, for themselves and for the sellers or owners of this property, whose agents they are, give notice that (i) the particulars and any further information communicated to potential purchasers of the property, or their advisers are provided solely for the purpose of assisting potential
purchasers or tenants in deciding whether they wish to proceed with further investigation of the property and do not constitute either the whole or any part of an invitation, offer or contract for sale of the property; (ii) all descriptions, dimensions, photographs, references to condition and necessary permissions or licences for use and
occupation and other details are given in good faith and are believed to be correct as at the date of the particulars. However, potential purchasers are not entitled to rely on them as statements or representations of fact but should satisfy themselves by searches, enquiries, surveys and inspections or otherwise with regard to the accuracy
of such details.
No responsibility or liability is or will be accepted by Richards & Co (UK) Ltd, the seller(s) or owners of the property or any of their respective, affiliates, directors, officers, representatives, employees, advisors, or agents for any loss or damage suffered by any party, resulting from reliance on the particulars or any other information
communicated by any means to that party, or its advisers, in connection with the possible sale or letting of the property.
No person in the employment of Richards & Co (UK) Ltd or the vendor(s) or owners has authority to make or give any representation or warranty, express or implied, in relation to the property. Richards & Co (UK) Ltd include any joint agents acting with Richards & Co (UK) Ltd.
The price or rent may be subject to VAT and any prospective buyer or tenant must satisfy themselves concerning the correct VAT position.For further information or to view please contact
Alexander Mullett MRICS Tel: 01737 222835
Email: alexander@raynerscommercial.com
Chris Richards MRICS Tel: 01737 222835
Email: chris@raynerscommercial.comYou can also read
