Ace of Spades

Hook Rise North, Surbiton, Surrey, KT6 5AT

24,010 sq ft For Sale Investment Property, Development (Land & Buildings)

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Mixed Use Investment / Medium Term Development Opportunity

Property Type Investment Property, Development (Land & Buildings)
Tenure For Sale
Size 24,010 sq ft
Energy Performance Rating Upon enquiry

Key Features

  • Extremely Prominent Site
  • Medium term redevelopment opportunity
  • Primary Income from Topps Tiles & Bathstore.com
  • Adjacent to A3.
  • Outstanding R/R with Topps - Immediate Value-add Potential

Location

The site is located at the Ace of Spades roundabout adjacent to the A3 in an extremely prominent position. The roundabout is elevated above the A3 and provides access directly onto the northbound carriageway and A309 southbound. Access is also provided to Chessington via the A243, and Surbiton/Kingston to the north.

Description

The premises comprise a petrol filling station (let on a long term lease) and an adjacent two-storey building housing two large retail units and ancillary uses at first floor level. The site extends to 0.9 acres and provides excellent on-site parking facilities for approx. 30 vehicles.

Tenancy Schedule

UNIT  TENANT  AREA LEASE START LEASE EXPIRY RENT REVIEW CURRENT RENT P.A.  
Shell Garage  Shell UK Ltd.    20/04/03 22/04/62   Peppercorn   
Unit A Bathstore 5,620 25/12/15 24/03/23 25/12/20 £65,000  
Unit B DBIO limited   3,390 22/06/18 21/6/23 N/A £35,000  
Unit C Stallards Gym Ltd 2,200 26/06/16  25/06/25 26/02/20 £18,000  
Unit D Topps Tiles (Multi Tile Ltd.) 12,800 06/06/13 05/05/23 06/06/18  £90,000  
TOTAL    42,010       £208,000 p.a.  

VAT

The property is elected for VAT, and it is anticipated that the sale will be treated as a transfer of going concern. (TOGC)

Proposal

Offers in excess of £3 million for this excellent medium term redevelopment opportunity. A purchase at this figure represents a net initial yield of 6.51%, assuming purchaser’s costs of 6.45%.

Data Room 

A data room has been created containing various accompanying documents. Access to the data room can be requested via the agents.