Summary
Unique restaurant/retail investment opportunity
Location
The historic and affluent town of Farnham is located on the Surrey/Hampshire border and is within the London commuter belt. The town is located approximately 10 miles west of Guildford, 17 miles east of Basingstoke, 27 miles north of Winchester and 43 miles south west of Central London.
Farnham benefits from excellent road communications via the Blackwater Valley Relief Road (A331) which links with Junction 4 of the M3 Motorway, approximately 8 miles to the north, Junction 12 of the M25 (London Orbital) is within easy reach via the A31 linking with the A3, approximately 20 miles to the north east. In addition, rail links are excellent with regular direct train services from Farnham station to London Waterloo, with a fastest journey time of approximately 56 minutes. Farnham station also provides regular direct services to Woking and Clapham Junction with an approximate journey time of 23 minutes and 50 minutes respectively.
The property is situated in the heart of the town centre on the historic Castle Street which is thought to be one of the finest Georgian streets in the South of England.
Other occupiers on Castle Street include Gail's Bakery, Cafe Nero, Hamptons Estate Agents, Bills Restaurant, Giggling Squid, Zizzi, Pizza Express and Lloyds Bank.
The premises are situated approximately 250m from the award winning Lion & Lamb Yard which is home to a range of retailers/cafes/restaurants nad anchored by a Waitrose Supermarket.
Other occupiers in the town include Boots, White Stuff, W H Smith, Poundland, Clarks, Sainsburys, HSBC, Fat Face and Elphicks Department Store amongst many others.
Tenancies
5 Castle Street is let on a full repairing and insuring lease. 5A Castle Street is let on effective full repairing and insuring lease terms with the landlord being responsible for keeping the structure and exterior parts in repair (the cost of these works can be recharged to the tenant subject to a cap of £XXXpa).
| Address | Tenant | Lease Start | Expiry (Break) | Rent Review | Rent PA |
| 5 Castle Street | Blanc Brasseries Ltd | 05/10/2012 | 04/10/2037 | Every 5 years | £XXX |
| 5A Castle Street | Trueman Letting Co | 16/08/2015 | 15/08/2025 (15/08/2020) | Every 3 years | £XXX |
| Total Rent PA | | | | | £XXX |
VAT
We are advised that the property is elected for VAT purposes and the sale can be treated as a Transfer of Going Concern.
Proposal
We are instructed to seek offers in excess of £XXX (ONE MILLION EIGHT HUNDRED THOUSAND POUNDS), which reflects a NIY of 5.43% after allowance for purchaser's costs of 6.22%.