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Lot A Sold: £1,110,000

Auction: Wednesday 17th July 2019

79/81 High Street, Banstead, Surrey SM7 2NL

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Lot A   Click here for addendum

6 Week Completion

Situation

Located within the town's principal shopping thoroughfare, adjacent to Thomas Cook and amongst such other multiples as Boots Pharmacy, Costa Coffee, Domino's, Specsavers, Tesco Express, HSBC, Superdrug, Waitrose and others.
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 (Junction 8).

Property

A mid terraced building comprising 2 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 levels. In addition, the property benefits from use of a rear service road.

ACCOMMODATION1

No. 79 - Ground Floor L-Shaped Shop
Gross Frontage 18'6"
Internal Width 17'6"
widening to 35'0"
Built Depth 70'9"
Area Approx. 2,009 sq ft2
No. 81 - Ground Floor Shop
Gross Frontage 18'6"
Internal Width 17'6"
Area Approx. 207 sq ft2
No. 79A - First & Second Floor Flat
2/3 Bedrooms (the front bedroom has been subdivided), Living Room, Dining Room, Kitchen, Bathroom/WC.
Area 968 sq ft3
No. 81A - First & Second Floor Flat
2 Bedrooms, Living Room, Dining Room, Kitchen, Bathroom/WC.
Area 893 sq ft3

¹ Not inspected by Barnett Ross. 2 Area taken from VOA. 3 Area taken from EPC.

VAT is applicable to this Lot

FREEHOLD

Tenancy

The entire property is let on a full repairing and insuring lease to Santander UK PLC (having 614 branches) (T/O for Y/E 31/12/18 £7.43bn, Pre-Tax Profit £1.57bn and Shareholders' Funds £15.82bn) for a term of 25 years from 26th March 1994 (Holding Over) at a current rent of £73,500 per annum exclusive.

Note 1: Santander sublet the front section of shop No. 81 to Fadi Limited (Tailors having 4 branches) on a lease that expired on 24th March 2019 outside s.24-28 of the L & T Act 1954.

Note 2: Santander sublet the flats on ASTs.

Note 3: We understand a shop at 32 High Street (989 sq ft) was let in Nov. 2018 at £38,000 p.a. and a shop at 111 High Street (874 sq ft) was let in July 2018 at £32,500 p.a.

Note 4: We are informed that Flat 58a High Street (1,045 sq ft) was sold in April 2019 for £368,000.

Enquire about this lot:

Photo of Jonathan Ross

Jonathan Ross
020 8492 9449
jross@barnettross.co.uk

Photo of Steven Grossman

Steven Grossman
020 8492 9449
sgrossman@barnettross.co.uk

*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.