HIGH STREET, GUILDFORD, GU1 3ES RARE PRIME FREEHOLD HIGH STREET INVESTMENT FOR SALE WITH POTENTIAL TO DEVELOP THE UPPER PARTS HIGH STREET, GUILDFORD, GU1 3ES PRIME FREEHOLD HIGH STREET INVESTMENT FOR SALE
INVESTMENT CONSIDERATIONS Guildford is a highly affluent south east town and is amongst the UK’s premier retail destinations outside of Central London • The town’s catchment population is one of the most affluent of the PROMIS centres, ranking second on the PMA Affluence Indicator • Prime retail unit situated on the pedestrianised High Street adjacent to Gapkids and within close proximity to Jack Wills, Gap, GANT and WH Smith. • Let to Vodafone Ltd for a further 4 years at a current rent of £232,500 p.a. reflecting a Zone A rent of £307.50 psf • Freehold • Potential to unlock the residential accommodation and expand further by extending the upper floors to the rear, subject to the existing lease and obtaining all relevant planning consents • We are instructed to seek offers in excess of £5,250,000 (Five Million, Two Hundred and Fifty Thousand Pounds) subject to contract and exclusive of VAT, which reflects a net initial yield of 4.15% assuming purchaser’s costs of 6.60%. RARE PRIME FREEHOLD HIGH STREET INVESTMENT FOR SALE HIGH STREET, GUILDFORD, GU1 3ES WITH POTENTIAL TO DEVELOP THE UPPER PARTS
A505 Stevenage A131 Dunstable A120 Stansted Luton Luton Bishop’s Knebworth Stortford A34 A418 A602 M40 A5 A130 Aylesbury Welwyn Garden City Hertford A12 M1 A414 Hemel Harlow Hatfield Hempstead St Albans A4142 M10 Chelmsford A138 A41 A414 A1(M) A10 J21 M11 Chipping J20 Potters Bar Epping J23 M25 Ongar J25 A404 J19 J27 Borehamwood A4010 M25 Watford A1 Enfield High Rickmansworth A10 M11 A355 Billericay Wycombe A413 South Brentwood Oxney J28 Wickford M1 A12 Harefield Harrow M25 Brent A127 M40 Ruislip J29 Basildon A130 A404 Cross A10 Romford J16 A12 A40 Wembley Benfleet Southend-on-Sea Henley-on-Thames Uxbridge A40 Maidenhead Canvey Slough Stanford-le-Hope Island LONDON A13 J15 M4 Fulham Windsor Hounslow Heathrow Clapham M4 Richmond Dartford Reading A316 A2 Staines Gravesend Kingston LOCATION Sheerness Ashford J2 A2 Upon Thames A20 A309 Wokingham Ascot A3 Bromley J12 A23 Swanley Guildford is the main commercial and administrative centre of Surrey and A322 Tolworth J3 Rochester Gillingham A24 Croydon Weybridge A232 A232 is one of the premier retailing locations in the UK. The town is located Chessington M2 M25 Sutton A21 M25 M20 A243 approximately 33 miles (53 km)Sittingbourne south west of Central London, 7 miles A33 M3 Epsom Shoreham Snodland Woking J10 (11 km) south of Woking and 10 miles (16 km) east of Farnham. The A3 M25 Biggin Hill A22 M20 J9 J5 M26 A339 Famborough London to Portsmouth trunk road runs along the edge of the town and provides A3 A217 Sevenoaks Fleet A331 M25 fast road accessMaidstone to London, the south coast and the M25 motorway at junction Basingstoke J7 A24 J8 J6 Oxted Aldershot Reigate M23 10. Guildford also benefits from a mainline rail service with direct services A31 Dorking Redhill A22 A229 M3 GUILDFORD to A26Waterloo, with a journey time of approximately 33 minutes. Both London Famham A21 Godalming HeathrowTonbridge and London Gatwick Airports are within a 30 minute drive. Horley Paddock Royal Wood Staplehurst Alton Gatwick Tunbridge Witley Cranleigh A264 Wells Crawley Three Bridges
North A264 East Grinstead Horsham A22 A229 Horsham A23 A21
Haywards Heath
Burgess Hill RARE PRIME FREEHOLD HIGH STREET INVESTMENT FOR SALE HIGH STREET, GUILDFORD, GU1 3ES WITH POTENTIAL TO DEVELOP THE UPPER PARTS
DEMOGRAPHICS Guildford has a primary catchment area population of 507,000 with an estimated shopping population of approximately 241,000 and the area is expected to see above average growth in population across the next 5 years. Given the breadth of the retail offer in Guildford and the attractive character of the town centre, we would expect the town to draw a significant number of shoppers from beyond the primary catchment area. The Guildford catchment population is one of the most affluent catchments in the UK, ranked 2nd out of the PROMIS centres on the PMA Affluence indicator. This is reflected by the spending habits of the catchment population where per capita retail spending levels are significantly above the PROMIS average. The town includes a large student population with the University of Surrey accommodating in excess of 15,000 students. Guildford is also a popular commuter town with over 8.2 million people using the station in 2015/16.
MAPPIN & WEBB
KIKK-K
RETAILING IN GUILDFORD Guildford is an affluent market town and is a leading retailing centre The retail offer in Guildford is very strong with a good provision of upper across the country, popular with occupiers and investors. The town middle/quality fashion retailers including GANT, Hobbs, Kurt Geiger, benefits from being within close proximity to London and is a popular Phase Eight, Ted Baker, Urban Outfitters, Jack Wills, Superdry and commuter town. The town attracts some of the highest consumer Hollister all having representation. Recent arrivals in the town include spending in the South East, with retail expenditure expected to grow Massimo Dutti, Timberland, Joules and Anthropologie further underlining in the near future. the town’s prominence as a leading retailing centre. These national The core shopping area within Guildford town centre focuses brands are supplemented by an array of independent boutiques. around the High Street and North Street, which lie parallel to one The vacancy rate in Guildford town centre currently stands at 6.8%, well another. The prime pitch is found along the pedestrianised section below the national average. The refurbishment of Tunsgate Quarter will of the High Street. There are three shopping centres within the bring further occupiers coming to the town with OKA Direct, Loaf and town:- The Friary Centre, White Lion Walk and Tunsgate Square The Ivy Brasserie having taken pre-lets. Prime rents in the town currently however the traditional High Street remains the heart of the stand at £310 psf Zone A. This is now approximately 11% above the town’s retail offer. pre-recession peak outlining the strength of Guildford as a retail centre.