The property is currently held on a Full Repairing and Insuring Lease from 29/01/2021 for a ten year term. There is an upward only rent review at the fifth year of the term, ie 29/01/2026, along with a Tenant only break option, subject to six months' prior written notice to terminate. The current passing rental is £13,800 per annum exclusive.
Our Client is seeking to Assign their existing Leasehold interest, or grant a new Underletting for a term to be agreed.
( Agency Pilot Software ref: 644 )
Location
The premises are situated in a prominent location on the northern side of the High Street, close to the junction with The Broadway. Cheam Village offers a wide range of retail, restaurant and leisure facilities. Nearby occupiers include Sainsbury's Local, Costa Coffee, Prezzo, W H Smiths, Little Waitrose and Pizza Express. Cheam benefits from excellent road communications. The A3 is within approximately 3¾ miles, whilst Junction 9 of the M25 is approximately 6½ miles and junction 8 approximately 8 miles. Cheam British Rail Station is within close proximity, offering fast and frequent services to both London Victoria and London Bridge
Accommodation
644 Sq Ft (59.83 Sq M)
Terms
The property is currently held on a Full Repairing and Insuring Lease from 29/01/2021 for a ten year term. There is an upward only rent review at the fifth year of the term, ie 29/01/2026, along with a Tenant only break option, subject to six months' prior written notice to terminate. Our Client is seeking to Assign their existing Leasehold interest, or grant a new Underlease for a term to be agreed.
Rent The current passing rental is £13,800 per annum exclusive.
VAT The property has not been elected for VAT.
Rates According to the Government website the property has a 2023 Rateable Value of £12,750. Therefore, the rates payable for the current financial year for 2024-2025 are £1,590.56. NB: The rates actually payable may be subject to transitional relief.
EPC The EPC rating for this property is C (74)
Legal Costs Each party is to be responsible for their own costs in this transaction
Specification
- Laminate flooring
- Intruder alarm
- Electric heating
- Spot lighting
- WC/Cloakroom facilities
- Kitchen
- Rear Yard area