244-256 Station Rd 18,901 SF 100% Leased Retail Building Addlestone KT15 2PS £1,000,000 (£52.91/SF)
INVESTMENT HIGHLIGHTS
- Located within a Residential Development
- Good road links
- Parking
EXECUTIVE SUMMARY
The subject property is located on Ground Floor level within a Residential Development. Curchod & Co have been informed there are 39 flats on-site.
The subject property is let to Vet-AI Ltd (company number: 11343174) on a 20-year lease term from 28th July 2023 at a rent of £55,000 per annum exclusive. The lease is outside the security of tenure provisions within the Landlord and Tenant Act 1954. There is a mutual break option on 28th July 2033 (Break Date). There is a 12-month rent deposit held. The rent is to be reviewed on an upward only basis every 5 years to be the higher of either Open Market Rental Value or RPI compounded annually subject to a collar of 2% and cap of 5%. The tenant is to pay a service charge on an annual basis.
The subject property is let to Vet-AI Ltd (company number: 11343174) on a 20-year lease term from 28th July 2023 at a rent of £55,000 per annum exclusive. The lease is outside the security of tenure provisions within the Landlord and Tenant Act 1954. There is a mutual break option on 28th July 2033 (Break Date). There is a 12-month rent deposit held. The rent is to be reviewed on an upward only basis every 5 years to be the higher of either Open Market Rental Value or RPI compounded annually subject to a collar of 2% and cap of 5%. The tenant is to pay a service charge on an annual basis.
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Tenure
Long Leasehold
Property Subtype
Storefront Retail/Office
Building Size
18,901 SF
Building Class
B
Year Built
1980
Price
£1,000,000
Price Per SF
£52.91
Percent Leased
100%
Tenancy
Multiple
Number of Floors
3
Building FAR
0.90
Lot Size
0.48 AC
Parking
22 Spaces (0.52 Spaces per 1,000 SF Leased)
AMENITIES
- Bus Route
- Corner Lot
1 of 1
NEARBY MAJOR RETAILERS
