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Lot 6 Click here for addendum

Freehold Town Centre Commercial Investment let to WH Smith Retail Holdings Ltd – Gross Yield 12.1%
6 Week Completion

Situation

Located in the heart of this pedestrianised town centre amongst such other multiple retailers as H&M, McDonald's, Poundland, Iceland, KFC, Tesco Express, Waterstones and many others. There is a street market on Wednesdays, Fridays and Saturdays and the town's main car park is just a few minutes' walk away.
To the rear of the property lies the Fairview Homes Rivertown Development comprising of 136 flats launching later this year.
Staines-upon-Thames lies approx. 17 miles south-west of central London and 4 miles south-west of Heathrow Airport and benefits from good road access via the M25 (Junction 13).

Property

A substantial and attractive double fronted building comprising a Deep Ground Floor Retail Unit with a Post Office Counter and rear Ancillary Storage plus a Loading Area. In addition, there is further Retail and Ancillary Storage on the first floor together with Basement Storage.
There is currently no access to the second floor and the property includes a goods lifts that serves the ground and first floors.

VAT is applicable to this Lot

FREEHOLD

Accommodation¹

Ground Floor
Gross Frontage 48'0"
Built Depth 163'0"
Sales/Ancillary Area Approx. 6,881 sq ft
Basement
Ancillary Area Approx. 602 sq ft
First Floor
Sales/Ancillary Area Approx. 4,741 sq ft
WCs
Second Floor
Currently no access

_________________

Total Area Approx. 12,224 sq ft

¹Areas taken from VOA.

Tenancy

The entire property is let on a full repairing and insuring lease to WH Smith Retail Holdings Limited (having over 530 High Street branches) (T/O for Y/E 31.08.22 £191.7m, Pre-Tax Loss £40.8m and Shareholders' Funds £848.6m) for a term from 24th June 2015 to 4th August 2025 (in occupation for over 20 years) at a current rent of £132,750 per annum exclusive.

Note 1: The tenant did not operate their June 2020 Break Clause.

Note 2: The upper floors of the property may lend itself to conversion to Residential Use, subject to obtaining possession and the necessary consents.

*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.

49–51 High Street & 1–5 Goodman Place, Staines-upon-Thames, Middlesex TW18 4QR