The property is a semi-detached building with part brick faced and part tile hung elevations under a pitched roof, arranged over ground and first floors. Part of the property has operated as a dentist since 1980
( Agency Pilot Software ref: 34529 )
Location
Church Road comprises a local retail parade within a residential area. The retail offering includes Tesco Express, Co-Op, Rawlings Opticians, Boots Pharmacy and a range of independent occupiers
Accommodation
Ground Floor - Barbers 312 sqft
Ground Floor - Dentist 301 sqft
First Floor - Dentist 451 qft
Terms
TENURE The interest in the property is freehold, held under Title Number, SY92122.
EPCs can be found in our Data Room
LETTINGS Part of the ground floor is let to an individual trading as Heads Up barbers shop on a 12 year FRI lease, inside the Landlord & Tenant Act 1954, from 22/10/2022 at a rent of £9,000 per annum. There is an RPI rent review 22/10/2026. Part of the ground floor and all of the first floor is let to Excellence in Dentistry Ltd on a 12 year FRI lease inside the Landlord & Tenant Act 1954, from 24/06/2016 at a rent of £26,659 per annum. The lease is due for renewal in March 2028. The property has been in use as a dentist surgery since 1980 and the current tenant has asked to discuss terms for lease extension. TOTAL INCOME is therefore £35,659 pa.
COVENANT Excellence in Dentistry Ltd has an Experian rating of 88 - Very Low Risk. Excellence in Dentistry Ltd is ultimately owned by BUPA Dental Care Limited, who are not a party to the lease.
DATA ROOM Further information including title documents and lease can be found – Click here.
ANTI-MONEY LAUNDERING Upon agreement of Heads of Terms, the buyer will be required to follow our Anti-Money Laundering process.
VAT The property has not been elected for VAT, and VAT will not be chargeable on the sale.
Specification
- Great Bookham is a suburban village in Surrey, 2.8 miles southwest of Leatherhead.
- The property is a semi-detached building arranged over ground and first floors.
- Mixed use medical and retail investment with rental growth potential.
- Dentist surgery on site since 1980.
- Let to an individual operating as a barbers and Excellence in Dentistry Ltd at a total rent of £35,659 PA.
- Offers are invited in excess of £400,000.
- A purchase at this level shows a net initial yield of 8.56%