Central Road, Worcester Park KT4 8DR
Offers in excess of £2,000,000
The property comprises a 2-storey building consisting of approximately 3,905 sq.ft. of ground floor retail area with ancillary storage and office space across the first floor which extends to approximately 1,761 sq.ft.
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.
The property is prominently located on Central Road (A2043) in Worcester Park, within the London Borough of Sutton.
Central Road is Worcester Park’s main commercial street and is host to numerous shops, restaurants and other amenities.
Worcester Park station is located 0.1 miles from the property providing frequent services to London Waterloo in 28 minutes.
The property is not locally or statutorily listed, nor is it situated within a Conservation Area.
The property offers potential for comprehensive redevelopment with a mixed-use scheme, subject to obtaining all necessary consents.
Further planning enquiries should be directed to Sutton Borough Council on 020 8770 5000.
The property is let to Marks & Spencer PLC on a 20 year FRI lease from 25th March 2003 at £135,000 per annum.
Marks & Spencer PLC sub-let the entire property to Poundland Limited for the remainder of the lease at £90,000 per annum.
Marks & Spencer PLC (www.marksandspencer.com) currently trade from over 900 stores across the UK. For the financial year ending 2018, they reported a total revenue of £10.4bn and profit before tax of £84.6m.
The property will be sold freehold with the existing tenant remaining in-situ.
Offers are invited in excess of £2,000,000.
The property is elected for VAT, although the transaction will be treated as a Transfer of Going Concern (TOGC).
Further information including legal documents can be found in our dataroom using the password ‘Poundland’.
Disclaimer - Kingsbury on its own behalf and on behalf of the Owner / Landlord of this property whose agent Kingsbury is, 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.
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- 2-storey freehold building comprising retail at ground floor (A1 use) and 1st floor ancillary storage and office space extending to approximately 5,666 sq.ft. in total
- Let to Marks & Spencer PLC (20 years from March 2003) who sub-let to Poundland Limited producing an income of £135,000 per annum
- Sought-after location within walking distance of Worcester Park Station
- Offers are invited in excess of £2,000,000 which reflects 6.37% NIY
To discuss this opportunity further, please contact Jordan Oldfield or Ilia Ago on 020 7183 2529