Acquired
Banstead – Santander UK PLC and Two Flats
79/81 High Street, Banstead, Surrey SM7 2NLFreehold Two Shops & Residential Investment
Tenure
Freehold
Lease Term
6 Years and 8 Months
Years Left on Lease
1y 1m
Area
4,187 SQ FT
VAT Applicable
No
Sector
Investment Consideration
- Comprising two ground floor shops with a large rear extension together with separate rear access to 2 self-contained flats, each planned on first and second floor level.
- Entire property let to Santander UK PLC
- Total area size of 389 sq m (4,187 sq ft)
- Development potential subject to obtaining the necessary planning consents
- Located within the town principal shopping thoroughfare
- Occupiers nearby include Boots Pharmacy, Costa Coffee, HSBC, Domino’s, Specsavers and Tesco Express, amongst many more.
Key Features
Tenure
Freehold
VAT
VAT is not applicable.
Property Description
The property is arranged as a two ground floor shops with a large rear extension together with separate rear access to 2 Self- contained flats, each planned on first and second floor level and has a total area size of 389 sq m (4,187 sq ft).
The property provides the following accommodation and dimensions:
Ground Floor: No.79 Shop - 195.00 sq m (2,099 sq ft)
No.81 Shop - 21.00 sq m (226 sq ft)
First/Second Floor:
No.79a Flat - 90.00 sq m (969 sq ft)
No.81a Flat - 83.00 sq m (893 sq ft)
The property provides the following accommodation and dimensions:
Ground Floor: No.79 Shop - 195.00 sq m (2,099 sq ft)
No.81 Shop - 21.00 sq m (226 sq ft)
First/Second Floor:
No.79a Flat - 90.00 sq m (969 sq ft)
No.81a Flat - 83.00 sq m (893 sq ft)
Tenancy Description
The entire property is at present let to Santander UK PLC for a term of 6 years and 8 months from 11th April 2019 at a current rent of £80,000 per annum and the lease contains full repairing and insuring covenants. Santander sublet the front section shop and sublet flats on Assured Tenancy Agreement.
Tenancies & Accommodation
Location Description
Banstead is a popular and prosperous Surrey commuter town adjacent to the A127 approx. 13 miles south-east of central London and with easy access to the M25. The property is located within the towns principal shopping thoroughfare. Occupiers nearby include Boots Pharmacy, Costa Coffee, HSBC, Domino’s, Specsavers and Tesco Express, amongst many more.
