Gillingham House, 2 Pannells Ct, Guildford GU1 4EU – Guildford
For sale 1,348 sq ft
The property is located in the cathedral town of Guildford with a population of 65,000. Guildford is the County town of Surrey and a major commercial centre located on the A3 dual carriageway, 30 miles south-west of Central London. The town benefits from excellent communications with the A3, providing a direct link to the M25 London Orbital to the north and to the south coast. The property occupies an established trading location on the south side of North Street and close to the junction with Market Street. Nearby retailers include Sanrizz, Sevenoaks Hi-Fi, Maison Blanc, Laura Ashley and The Royal Bank of Scotland.
Wallis House comprises a four-storey building built in 1986 and comprises three upper floors of residential apartments and a ground floor retail unit let to bookmakers Done Brothers Limited. The ground floor shop has an Energy Performance Certificate rating of C55.
The ground floor of 1,348 sq ft is let to Betfred Betting Shop on an effectively full repairing and insuring lease for a term expiring 27^th October 2023. The current rent payable is £75,000 per annum exclusive. The lease has a tenant option to break on the 30^th April 2020. The tenant to provide at least 3-months’ prior written notice.
The 1^st, 2^nd & 3^rd floors were converted into 9 residential apartments, which are a mix of one and two-bed flats, all sold on long leases each paying a ground rent of £250 per annum. Total ground rents of £2,250 per annum.
Total income is, therefore, £77,250 per annum exclusive.
This shop, retail unit for sale is located in Guildford.