Opportunity to purchase a prominent commercial property in the heart of Leatherhead.
Total Annual Income of £78,958pax.
Total net internal area of 442.82sq. m (4,766 sq. ft).
Available Immediately
Attractive yield in excess of 8%
Location
Leatherhead lies approximately 18 miles (29 km) south of London between Guildford (13 miles west) and Reigate (10 miles east), with Dorking around 7 miles to the north.
The town is well-connected via road networks, with the A24 running parallel giving access to Dorking and the wider motorway network. The A25 links it to Guildford and Reigate. The M25 motorway (Junction 9) is approximately a mile away offering excellent connections to London, Heathrow, and Gatwick.
The property is located on the south side of North Street, with nearby businesses including Lidl and Esquires Coffee as well as a variety of independent retailers, cafés and food operators.
Accommodation
Description & Accommodation
The property comprises a three-storey residential and commercial building.
The ground floor is currently arranged as two commercial units.
The ground floor provides the following net internal floor areas.
11-15 North Street
Ground Floor 374.6 sq. m 4,031 sq. ft
15A North Street
Ground Floor 62.7 sq. m 675 sq. ft
Total 437.3 sq. m 4,706 sq. ft
Terms
Tenure
The property is held under a Lease for a term of 999 years from 10th December 2018 under Title No SY858563.
Occupational Leases
The property is subject to the following occupational Leases.
11-15 North Street- Currently let to WSQ Investments Ltd, trading as Anytime Fitness for a term of 15 years from January 2020, expiring January 2035. The current passing rent is £60,958 pax and is subject to review at the 5th and 10th anniversaries of the term, the next being due in 2030.
15a North Street– Currently let to Charlie and Kate Ltd trading as Lucas Nails and Spa for term to expire 24th March 2034. The current passing rent is £18,000pax, the next rent review is due 24th March 2029.
Terms
The Long Leasehold interest in the property is available to purchase at a price of £900,000 (excl of VAT)
Subject to Contract
VAT
The above guide price is exclusive of VAT if applicable.
Costs
Each party are to pay their own fees in relation to the transaction.
Specification
EPC
11-15 North Street has an EPC rating of C (64)
15a North Street has an EPC Rating of C (65)
Business Rates
The Valuation Office Agency website describes the two premises
as follows with a 2026 rateable value of.
11-15 North Street – ‘Gymnasium and Premises’ £43,500
15a North Street – ‘Shop and Premises’ £15,500
Viewings
Strictly by appointment with White and Sons:
Mike Wimble –Tel: 01306 743344
Email: mike.wimble@whiteandsons.co.uk
David Sutton –Tel: 01306 743344 / 07948337048
Email: david.sutton@whiteandsons.co.uk