177-179 Central Road, Worcester Park, Surrey Kt4 8Dr

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INVESTMENT OPPORTUNITY WITH DEVELOPMENT POTENTIAL FOR SALE

177-179 CENTRAL ROAD, WORCESTER PARK, SURREY KT4 8DR

SUMMARY LOCATION

• 2-storey freehold building comprising retail at ground floor The property is prominently located on Central Road (A2043) in (A1 use) and 1st floor ancillary storage and office space extending Worcester Park, within the London Borough of Sutton. to approximately 5,666ft2 in total Central Road is Worcester Park’s main commercial street and is host • Let to Marks & Spencer PLC (20 years from March 2003) who to numerous shops, restaurants and other amenities. sub-let to Poundland Limited producing an income of £135,000 per annum Worcester Park station is located 0.1 miles from the property • Sought-after location within walking distance of Worcester Park providing frequent services to London Waterloo in 28 minutes. Station

• Offers are invited in excess of £2,000,000 which reflects 6.37% NIY

DESCRIPTION

The property comprises a 2-storey building consisting of approximately 3,905ft2 of ground floor retail area with ancillary storage and office space across the first floor which extends to approximately 1,761ft2.

The site area extends to 0.17 acres and is bounded by commercial uses to the north and east, with residential located on the south west boundary.

Access to the property is taken directly from Central Road via the surface level car park which provides parking for 8 vehicles.

www.kingsbury-consultants.co.uk INVESTMENT OPPORTUNITY WITH DEVELOPMENT POTENTIAL FOR SALE

DEVELOPMENT POTENTIAL TENURE

The property is not locally or statutorily listed, nor is it situated within The property will be sold freehold with the existing tenant remaining a Conservation Area. in-situ.

The property offers potential for comprehensive redevelopment with TERMS a mixed-use scheme, subject to obtaining all necessary consents. Offers are invited in excess of £2,000,000. Further planning enquiries should be directed to Sutton Borough VAT Council on 020 8770 5000. The property is elected for VAT, although the transaction will be TENANCY treated as a Transfer of Going Concern (TOGC).

The property is let to Marks & Spencer PLC on a 20 year FRI lease ADDITIONAL INFORMATION from 25th March 2003 at £135,000 per annum. Further information including approved planning documents can be Marks & Spencer PLC sub-let the entire property to Poundland found in our dataroom using the password ‘Poundland’. Limited for the remainder of the lease at £90,000 per annum.

Marks & Spencer PLC (www.marksandspencer.com) currently trade CONTACT from over 900 stores across the UK. For the financial year ending To discuss any aspect of this property or the disposal process, 2018, they reported a total revenue of £10.4bn and profit before tax of please contact the Seller’s sole agents: £84.6m. Jordan Oldfield– 020 7183 2529 [email protected]

Ilia Ago – 020 7183 2529 [email protected]

Kingsbury 1st Floor, 81 Alie Street, London E1 8NH

Kingsbury on their own behalf and on behalf of the Owner / Landlord of this property whose agents, gives notice that this document does not constitute any form of contract for sale or lease. Statements should not be relied upon, and interested parties are advised to satisfy themselves as to the correctness of each statement. Kingsbury is the trading name of Kingsbury Investment & Development Consultants Ltd registered in England No: 06869268.

www.kingsbury-consultants.co.uk