Franklin Commercial

Address

114-116 & 118-120 High Street
Esher
KT10 9QJ

Location

Situated opposite Waitrose and close to Cote Brasserie. Esher benefits from a good mix of multiple and independent retailers, coffee shops and restaurants, along with Everyman Cinema and Sandown Park race course. The A3 is within close proximity and Esher Train Station is within walking distance.

Description

Freehold Investment for sale- Guide Price £875,000. Total current income £63,000 p.a.

The investment comprises a pair of adjacent shops with ancillary upper parts, plus a rear building occupied by a pilates studio and a car park for 4 cars.

Floor areas;

114-116- Ground floor 637 sq ft. First floor 351 sq ft.

118-120- Ground floor 663 sq ft. First floor 364 sq ft.

Pilates studio (r/o 118-120)- 648 sq ft GIA.

Leases;

114-116- 5 year term from 2/11/22 with mutual break option on 2/11/25 at 3 months notice. £25,000 p.a. commencing rent with rent review 2/11/24.
Lease drafted inside the Landlord and Tenant Act 1954. Limited Co tenant with director's guarantees. £6,250 rent deposit lodged.

118-120- 10 year term from5/10/23 with mutual break option on 5/10/29 at 6 months notice. £26,000 p.a. commencing rent with rent review 5/10/28.
Lease drafted outside the Landlord and Tenant Act 1954. Limited Co tenant. £13,000 rent deposit lodged.

Pilates studio- 5 year term from 8/1/18. £12,000 p.a. rent. Let to private individuals with £800 rent deposit lodged.

VAT- We understand the property is not elected for VAT.

Please only view by appointment and do not disturb the tenants.

General Information

Tenure: Freehold

Price/premium: £875,000

Legal fees: Each party to bear their own

Features

Close to many multiples
Freehold
Fully let investment
High street location
Parking close by
Viewings by appointment only
Yard area

Map

Important Notice

Information supplied by franklin commercial is intended as a general guide only & should always be verified by you prior to contract (we do not usually inspect leases/service charge accounts etc or test any amenities/services). We do not guarantee the accuracy of approximate measurements/areas quoted, plans or any other information, which may have been supplied to us by Clients. Our descriptions do not form part of any contract and nothing is included unless it is in the solicitors contract for sale. All inspections/negotiations must be conducted through us & information should not be transmitted to 3rd parties. Under no circumstances may a direct approach to the business, vendor or lessee be made - staff are usually unaware of a proposed sale. Rents/Prices quoted are always exclusive of V.A.T. (if applicable).