Eastgate House, 221 - 227 High Street, Guildford, Surrey, GU1 3BJ

  • Investment
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  • 0 Sq ft
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  • For Sale
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  • Guide Price: £2,050,000

Key Points

Guildford Town Centre Retail Investment For Sale

  • Established Retail Location on Guildford High Street
  • Trading as William Hill, Magic Scissors & S & M Takeaway
  • £107,600 p.a. Rental Income
  • Strong Potential for Growth

Location

The premises are situated in Guildford town on the High Street in a strong secondary retailing pitch. Nearby occupiers include Jackson & Rye, KFC, Pizza Express, TSB, Knight Frank and Savills. Guildford mainline railway station is approximately 0.5 miles away and there is ample public parking nearby.

Description

The property comprises a substantial mid-terraced building arranged over ground and five upper floors. There are three retail units at ground floor level with separate rear access, as well as Residential accommodation above providing thirty-two flats sold off on a long lease.

Accommodation

The net internal areas are approximately as follows:

221 High Street
Net Internal Area 120.3 sq m 1,295 sq ft
ITZA Area 60.48 sq m 651 sq ft

225 High Street
Net Internal Area 28.80 sq m 310 sq ft
ITZA Area 25.5 sq m 275 sq ft

227 High Street
Net Internal Area 28.5 sq m 307 sq ft
ITZA Area 25.1 sq m 270 sq ft

Eastgate House
Upper parts forming thirty two flats.

Rates

221 - Rateable Value: £52,000 (2017/18)
225 - Rateable Value: £16,750 (2017/18)
227 - Rateable Value: £21,000 (2017/18)

EPC

Rating: Separately assessed.

Price

Guide Price: £2,150,000.

Tenure

The freehold interest is available subject to the below tenancies; more information can be provided on request.


221 High Street is let to William Hill Organization Ltd on a 20 year FRI lease inside the 1954 Landlord & Tenant Act from 30/06/2006 with 5 yearly reviews and no further breaks. Current passing rent is £62,500 p.a. (set 30/06/16) or £96.01 psf ITZA.

225 High Street is let to Dilshad Noori on a 15 year FRI lease inside the 1954 Landlord & Tenant Act from 13/02/2009 with 4 yearly rent reviews and no breaks. Current passing rent is £22,500 p.a. at £81.82 pfs ITZA.

227 High Street is let to Sir and Madam Ltd on a 15 year FRI lease outside the 1954 Landlord and Tenant Act from 19/12/14 with a rent review and break in year 5. Current passing rent is £22,000 p.a. or £81.48 psf ITZA. On 19/12/18 the rent increases to £24,000 p.a. until review.
Eastgate House is sold off on a long lease dated 01/01/2007 expiring 24/06/2168 (1st years unexpired). Current Ground Rent is £600 p.a.

Legal Costs

Both parties to bear their own legal costs incurred in the transaction.

Alex  Bellion

Alex Bellion
BSc (Hons) MRICS
07971 756068

George  Musgrave

George Musgrave
BA (Hons) MSc
07841 372888

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