Summary
The shop is positioned in the middle of this busy parade in Sunningdale. There is loading to the rear, short stay parking directly in front and a large public car park close by. Sunningdale businesses can apply for free spaces in the car park, alongside the free 60 spaces that have a 3 hour limit.
Key Points
- Funeral Directors Investment with a lease until 2030
- Well established tenant with solid accounts
- Rent Review due in June 2025 (June 2020 Rent Review not implemented)
- Residential flat sold on a long lease with 82 years unexpired.
- Short walk to Sunningdale Station
Viewings
Strictly by arrangement with the sole agents Page Hardy Harris
Shop lease
The retail unit is held on a 15 year inside The Act lease to Lodge Bros (Funerals) Limited from 9th June 2015. The initial rent agreed was £30,XXXa. The upward only market rent review from June 2020 has not been implemented and a further rent review is due in June 2025. The lease is held on essentially FRI terms and there was an initial Service Charge payable of £1,XXXa subject to RPI increases.
Long lease on the flat above
The two upper floors are held on a long leasehold interest from 24th June 2006 for a term of 99 years at an initial ground rent of £100 pa. This is then the subject of fixed increases, the first being on 24th March 2029 up to £220 pa, then in 25 years time rising to £450 pa and then finally in a further 25 years time, rising to £600 pa for the final years of the term. The repairing liability is internal repairing with a fair and proper contribution to the cost of the landlord maintaining the structure and common parts.
Tenure
For sale freehold subject to the commercial lease on the ground floor shop and the long lease on the residential flat above.
Legal Fees & VAT
Each party will be responsible for their own Legal Fees. All figures are quoted exclusive of VAT, which we understand is not chargeable.
Location
The shop is located in a prime position in the centre of the affluent village of Sunningdale. Nearby occupiers include Hamptons Estate Agents, Farrow & Ball, Fego Cafe, Majestic Wines, Pizza Express, Costa Coffee and Waitrose. Sunningdale Station on the London Waterloo to Reading line is a short walk. Nearby stations include Ascot and Virginia Water.