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Lot 27

Gross Yield 7%
6 Week Completion

Situation

Occupying a prominent pedestrianised trading position in this highly sought after town centre, linking the prime retailing of North Street and the pedestrianised High Street, adjacent to L'Occitane and opposite Fat Face, and close to Reiss, Caffé Nero, Ted Baker, House of Fraser, Joules, Hugo Boss, TM Lewin, Body Shop and many others, and only a minutes' walk from the new Tunsgate Quarter, which is a high end shopping and dining destination with its own car park.
Guildford is an affluent Cathedral and commuter town lying approx. 27 miles south-west of central London and enjoys excellent road access via the A3 which links with the M3 and the M25.

Property

A mid-terraced property comprising a Ground Floor Shop with trap door access to a Basement and internal access to Ancillary Accommodation at first and second floor level. In addition, there is a small area of flying freehold at rear ground floor level (see lease plan) and use of a rear pedestrian passageway.

Accommodation

Ground Floor Shop
Gross Frontage 15'10"
Internal Width 13'10"
widening at rear to 16'8"
Shop & Built Depth 22'1"
Basement (Not inspected)
First Floor Ancillary
Area Approx. 195 sq ft
Plus Kitchen & WC
Second Floor Ancillary
Area Approx. 225 sq ft

VAT is applicable to this Lot

FREEHOLD

Tenancy

The entire property is let on a full repairing and insuring lease to Hotel Chocolat Stores Ltd (having 93 branches) (guaranteed by Hotel Chocolat Retail Ltd) (T/O for Y/E 01/07/2018 £77.6m, Pre-Tax Profit £9.1m and Shareholders' Funds £13.6m) for a term of
10 years from 15th October 2009 together with a 5 year reversionary lease expiring on the 14th October 2024 at a current rent of £52,500 per annum exclusive.

*Please note:

RESERVE

The 'Reserve' is the minimum figure for which a property can be sold as agreed between the Seller and the Auctioneer. The 'Reserve' is not disclosed and remains confidential between the Seller and the Auctioneer.

GUIDE

Where a 'Guide' is stated, it is an indication of the Seller's current minimum acceptable price ('Reserve') at auction. A 'Guide' is published to assist prospective buyers in deciding whether or not to pursue a purchase.

A 'Guide' does not represent an anticipated sale price or a valuation and the eventual sale price may be higher or lower. The sale price is determined at auction and as such cannot be predicted in advance.

The 'Guide' can be published as follows:

a. 'Reserve below' which means the 'Reserve' will be below the shown amount.
b. A single price figure where the 'Reserve' is not to exceed it.
c. A single price figure with a + symbol where the 'Reserve' is not to exceed that figure by more than 10%.
d. A minimum and maximum price range where the 'Reserve' is to be within that range.

The Seller's expectation as to the sale price may change during the marketing period as a result of interest received from prospective Buyers. Therefore, the Seller may increase or decrease the 'Reserve' at any time up to just before bidding commences. If the 'Reserve' becomes fixed at a level that makes the 'Guide' misleading, the Auctioneers will subsequently issue a revised 'Guide' as soon as is practicable. Accordingly, prospective bidders should monitor the 'Guide' with the Auctioneers prior to the Auction taking place via this website.

In addition to the purchase price the Successful Buyer or Successful Bidder will be liable to pay Barnett Ross Ltd a non-refundable administration fee of £1,500 including VAT or as specified on the Particulars of Sale and there may also be additional non-optional fixed or variable fees and costs. To establish the full cost of purchasing a property please inspect the special conditions of sale and all other documentation in the legal pack. Please also refer to any addendum that may be displayed on this page.

8 Market Street, Guildford, Surrey GU1 4LB