Offers over
£1,400,000
(£491.40/sq. ft)
Retail premises for saleNorth Street, Guildford GU1
2,849 sq. ft
Under offer
About this property
Located in the heart of Guildford, North Street is a central retail hub, known for its popular and eclectic shopping and F&B offer.
Guildford boasts a strong consumer base, with a resident population of around 145,000 and a wider consumer base of approximately 430,000. The town is recognised for its affluent population, and high retail spend.
The property comprises a well-configured ground floor retail unit fronting on to North Street and a first floor unit with separate ground floor access. Total combined area of 2,849 sq ft.
The University of Surrey, with approximately 14,750 students, boosts local retail and leisure spending.
The North Street Development, immediately adjacent, is a major regeneration project approved in late 2023. It includes 471 new homes (10% affordable), commercial spaces, a new medical centre, the pedestrianisation of North Street and extensive public realm improvements. Works have begun on site as of November 2024.
The ground floor is unit is let gkss Limited t/a Oseyo expiring 14th June 2038 at £90,000 per annum.
The first floor is let to Done Brothers (Cash Betting) Limited t/a Betfred, expiring 12/11/2025. The tenant is no longer in occupation but continuing to pay rent. There are various asset management opportunities associated with this space including residential or office conversion.
Current Net Income of £126,650 per annum.
An attractive Weighted Average Unexpired Lease Term of 9.9 years to lease expiry and 6.8 years to break.
We are instructed to seek offers in excess of £1,400,000. Subject to contract and exclusive of VAT, reflecting a Net Initial Yield of 8.50% allowing for graduated purchasers cost.
Guildford boasts a strong consumer base, with a resident population of around 145,000 and a wider consumer base of approximately 430,000. The town is recognised for its affluent population, and high retail spend.
The property comprises a well-configured ground floor retail unit fronting on to North Street and a first floor unit with separate ground floor access. Total combined area of 2,849 sq ft.
The University of Surrey, with approximately 14,750 students, boosts local retail and leisure spending.
The North Street Development, immediately adjacent, is a major regeneration project approved in late 2023. It includes 471 new homes (10% affordable), commercial spaces, a new medical centre, the pedestrianisation of North Street and extensive public realm improvements. Works have begun on site as of November 2024.
The ground floor is unit is let gkss Limited t/a Oseyo expiring 14th June 2038 at £90,000 per annum.
The first floor is let to Done Brothers (Cash Betting) Limited t/a Betfred, expiring 12/11/2025. The tenant is no longer in occupation but continuing to pay rent. There are various asset management opportunities associated with this space including residential or office conversion.
Current Net Income of £126,650 per annum.
An attractive Weighted Average Unexpired Lease Term of 9.9 years to lease expiry and 6.8 years to break.
We are instructed to seek offers in excess of £1,400,000. Subject to contract and exclusive of VAT, reflecting a Net Initial Yield of 8.50% allowing for graduated purchasers cost.
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