81-85 High Street Dorking, RH4 1AW

Home , Dorking, Sevenoaks

Prime Mixed Use Investment In Affluent Commuter Town A69 NEWCASTLE UPON TYNE HEXHAM

A68 A694 SUNDERLAND A693

A690

DURHAM A68 A19

A1(M) BISHOPS HARTLEPOOL AUCKLAND A689

A68 MIDDLESBROUGH BARNARD CASTLE DARLINGTON A66 A66 A19

M6 A585

BLACKPOOL M65 LEEDS M55 A59 BURNLEY BRADFORD A583 PRESTON BLACKBURN A646 HALIFAX M62 CASTLEFORD M65 A56 A59 M62

SOUTHPORT A666 HUDDERSFIELD M6 M61 M66 A570 BOLTON M62 A5758 WIGAN M58 M1 A628 MANCHESTER M6 M57 M62 M60 ROTHERHAM LIVERPOOL WARRINGTON PEAK DISTRICT SHEFFIELD NATIONAL PARK

M53 M56 A623

NORTHWICH MACCLESFIELD CHESTERFIELD LINCOLN A550 CHESTER M6 A53 A523 M1 MANSFIELD A6 A34 A515 A423 A534

A385 A46 STOKE-ON-TRENT A52 BOSTON NOTTINGHAM A515 DERBY

A453 A50 BURTON UPON TRENT A53 MELTON A46 A515 MOWBRAY KING’S LYNN M1 M6 A38 A41 SHREWSBURY M54 NORWICH M42 LEICESTER GREAT M6 Toll A444 DOWNHAM YARMOUTH MARKET A442 WOLVERHAMTON M69 PETERBOROUGH A49 A458

CORBY LOWESTOFT A458 BIRMINGHAM M6 M1 A1(M) Location & Catchment THETFORD M5 M42 COVENTRY KETTERING A141 A14 KIDDERMINSTER RUGBY Dorking is an attractive and affluent market town within M42 A14 A46 M45 the London commuter belt located approximately 20 miles A49 A456 A508 A423 WELLINGBOROUGH A14 south of Central London and 11 miles east of Guildford. A449 A1 A14 NEWMARKET Road communications are excellent with the A6 A14 A24 providing quick access to Junction 9 of CAMBRIDGE STRATFORD-UPON-AVON NORTHAMPTON BEDFORD the M25, which lies five miles to the north. The WORCESTER A5 M40 A11 A25 also provides access to Reigate, Redhill A46 M1 M11 and Guildford. IPSWICH A429 ST GEORGE’S CHANNEL Key Investment Criteria. SUDBURY BANBURY MILTON A1 Dorking benefits from three train stations, HEREFORD A505 A44 KEYNES which provide direct access to London FELIXSTOWE M5 • Affluent and popular London commuter belt town M1 A6 Waterloo and Victoria, with a fastest journey A470 M50 A5 time of 48 minutes. HARWICH A40 • Location benefiting from increased remote working and M40 LUTON STEVENAGE STANSTED relocations from London A44 CHELTENHAM A120 A40 LUTON The town isCOLCHESTER conveniently located between the • between the main Boots and BarclaysA41 Bank DUNSTABLE ( ) A10 BRECON BEACONS GLOUCESTER Prime retailingA429 pitch A1 M BISHOP’S UK’s two largest airports, London Heathrow CARMARTHEN NATIONAL PARK HERTFORD WARE STORTFORD A12 A470 • building providing well configured retail AYLESBURand Y HEMEL ST (45 minutes) and London GatwickCLACTON-ON-SEA (30 Freehold mixed use ALBANS A48 A483 A40 HEMPSTEAD CHELMSFORD minutes). residential space A414 HARLOW OXFORD • 6 tenanted flats on the two upper floors generating a HATFIELD A414 CIRENCESTER AMERSHAM The property is situated in a busy retailing pitch on the M5 gross income of £52,020 pa M25 A465 PONYTPOOL M40 A12 western side of the High Street. The area is popular with LLANELLI A420 HIGH M1 M25 • Retail let to WH Smith Retail Holdings Ltd (t/a British Bookshops WYCOMBE M25 a mixture of offices, bar and restaurant operatorsNO andRT isH A449 & Stationers) for 5.6 years, with WH Smith High Street Holdings Ltd WATFORD A470 SEA M48 in close proximity to St Martin’s Walk Shopping Centre. SWANSEA PONTYPRIDD as guarantor M4 A433 Wathen Road car parking is nearby and provides 104 car NEWPORT SWINDON SOUTHEND-ON-SEA M4 • Effectively a re-based rent following the taking back of the upper SLOUGH A1parking3 spaces enhancing footfall. SWANSEA parts by the landlord LONDON CITY M4 CARDIFF • Part sub-let to Boots Opticians on a near co-terminus leaseREADING HEATHROW There are 28,570 people living within a 10-minute drive BRISTOL A46 CHIPPENHAM LONDON MARGATE A2 time. Dorking’s catchment benefits from having an above • Total currentA346 income of £120,020 pa M4 BRACKNELL M5 A38 NEWBURY average representation of the most affluent groups with A350 CARDIFF BATH M25 M20 36% of the primary catchment falling in the AB social CROYDON BRISTOL A33 M3 grade, compared toM2 the UK’s average of 23%. Moreover BRISTOL CHANN EL WESTON-SUPER-MARE A36 A343 Seeking offers in excess of A3 over 19% of households earn over £70,000 per annum A37 A338 SEVENOAKS BASINGSTOKE A24 compared to the 9% for the UK as a whole. GUILDFORD A22 MAIDSTONE M20 £2,300,000 DORKING M23 A39 A361 Subject to contract A303and exclusive of VAT DOVER M5 A36 GATWICK MINEHEAD A303 M3 GLASTONBURY Reflecting a net initial yield of 6.75%* A3 A31 FOLKESTONE BRIDGEWATER A361 on the retail income and a capital value A22 A26 SALISBURY A37 of £325 per sq ft onWINCHESTER the residential element BARNSTAPLE A23 *after allowing for purchaser’s costs of 5.62% TAUNTON A350 A36 A272 SOUTHAMPTON WELLINGTON YEOVIL A338 R SOUTHAMPTON V E M27 A3 (M) O A354 D O F NEWHAVEN I T T R A BRIGHTON S M5 EASTBOURNE A377 A354 A338 PORTSMOUTH A386 FISHBOURNE BOURNEMOUTH A30 DORCHESTER POOLE EXETER EXETER ISLE OF WIGHT ENGLISH CHANN EL

LAUNCESTON WEYMOUTH A386 EXMOUTH DARTMOOR NATIONAL PARK A380

A388 A38 TORQUAY A385 NEWQUAY

PLYMOUTH DARTMOUTH

PLYMOUTH

FALMOUTH ENGLISH CHANN EL Dorking

Retailing in Dorking

Created By: GCW Dorking is an attractive market town that offers a good mix of national and smaller, boutique retailers, well suited to its affluent local catchment. Retailing within the town is principally centred around the High Street and St Martin’s

Walk Shopping Centre. Notable occupiers in the town include Marks and Spencer, Boots, Superdrug, Starbucks,

Waterstones, Sainsburys and Fat Face. N Description & Accommodation Commercial Tenancy

Experian Goad Plan Created: 28/10/2020 The retail unit is let in its entirety to WH Smith Retail The property provides retail accommodation on ground floor with For more information on our products and services: ancillary storage at basement level. The ground floor has been Holdings Ltd (t/a British Bookshops & Stationers) from subdivided by the tenant and part sublet to Boots Opticians. The the 25th October 2011 on a term of 15 years expiring on upper parts consist of 6 residential flats. Five of the flats are let the 24th October 2026 at a passing rent of £68,000 per annum. The lease is guaranteed by WH Smith High Street on assured shorthold tenancies (AST’s), with one on a protected Holdings Ltd. The 2021 tenant break has recently been tenancy. removed and the upper parts taken back by the landlord, The net internal floor areas of the retail element are set out in the effectively re-basing the rent. lease and are as follows: The tenant has sublet part to Boots Opticians www.experian.co.uk/goad | [email protected] | 0845 601 6011 81 High Street Sq m Sq ft Professional Services Ltd on a lease expiring on the 20th October 2026 at a rent of £30,500 per annum. Ground Floor Sales Area 200.65 2,159 ITZA 725 units Covenant Ground Floor Rear Ancillary 39.13 421 83 High Street WH Smith is a leading global retailer for news, books and convenience. The British retailer was established Ground Floor Sales Area 90.15 970 in 1792 and trades from over 600 high street stores. ITZA 554 units A summary of the last two year of accounts is set out Basement Storage 58.92 634 below: Total 388.85 4,184 WH Smith Retail 31/08/2019 31/08/2018 Holdings Ltd Tenure Turnover £187,524,000 £180,610,000 Pre-Tax Profit £116,655,000 £115,766,000

Freehold. Net Worth £614,113,000 £440,781,000

The guarantor WH Smith High Street Holdings Ltd reported total shareholder’s funds as at August 2020 of £106,181,000.

50 metres

Copyright and confidentiality Experian, 2020. © Crown copyright and database rights 2020. OS 100019885 Residential Uppers

There are 6 flats in the upper floors and a summary of the tenancies is set out below:

Lease Passing Rent Areas Flat Start Type Per Annum Sq ft (GIA)

2 16/10/1961 Regulated £6,000 785

3 02/10/2005 AST £9,180 1,098 Second floor 4 20/07/2020 AST £9,300 581

5 28/10/2011 AST £8,820 570

6 21/11/2014 AST £9,840 646

7 28/10/2011 AST £8,880 495

Total £52,020 4,175

First Floor All floor plans are for indicative purposes only. EPC

EPC’s are available on request. The retail unit is currently D82. The EPC for Flat 2 is a G rating. The vendor is investigating having this enhanced, meaning offers can be subject to an improvement on that rating. VAT

The property is elected for VAT and as such it is anticipated that the sale will be treated by way of a TOGC. Proposal

We are seeking offers in excess of £2,300,000 (Two Million, Three Hundred Thousand Pounds), subject to contract and exclusive of VAT. A purchase at this price would reflect anet initial yield of 6.75% on the retail income and a capital value of £325 per sq ft on the residential element, allowing for purchaser’s costs at 5.62%.

Contact Details

For further information please contact:

James Pearson T: 020 7647 4817 M: 07817 410 361 [email protected]

Caryl Howell 7-10 Chandos Street London W1G 9DQ T: 020 7647 4827 020 7408 0030 M: 07814 418 192 T: [email protected] www.gcw.co.uk

Disclaimer - Whilst every effort has been made to ensure accuracy, no responsibility is taken for any error, omission or mis-statement in these particulars which do not constitute an offer or contract. No responsibility or warranty whatever is made or given either during negotiations or in particulars by vendor, lessor or the agent Gooch Cunliffe Whale LLP. Registered in England No. OC376010. Registered office: 30 City Road, London EC1Y 2AB.