7

Location

Sutton is a major suburban town located approximately 10 miles (16 km) to the south-west of Central London. Croydon is 5 miles (8km) to the east and Wimbledon is 5 miles (8km) to the north. With an estimated population of over 200,000 within 10 minutes’ drive time, the town is a popular and easily accessible location.

Description

The property comprises an attractive red brick building below a pitched tiled roof and arranged on ground and two upper floors. The modern ground floor banking hall is well configured with high ceilings and 15.5 metres (51 feet) of frontage to High Street.  

The first and second floor offices have a self-contained entrance from High Street and an internal access from the banking hall. The accommodation is generally open plan with some partitioned rooms. The specification includes suspended ceilings with recessed lighting, central heating and individual wall mounted air cooling units. There are attractive wooden sliding sash windows overlooking High Street and aluminium frame windows to the rear.  

Underfloor trunking is provided to the front offices and perimeter trunking to the rear. Toilet accommodation is provided on both office levels.

The ground floor strongroom is a tenant’s improvement and is to be removed at lease expiry.  

To the rear of the site there is parking for up to 13 cars with direct access from Benhill Avenue. The open passageway to the side of the property forms part of our client’s freehold and is included within the tenant’s lease.

Size

7,357 sq ft (683 sq m) approx

Amenities

  • A prominent retail and office investment offering an excellent opportunity for residential conversion of the upper floors.
  • Sutton is a thriving and highly accessible centre just 10 miles from Central London and only 26 minutes by train.
  • A total of 7,357 sq ft arranged as a banking hall of 2,685 sq ft and upper floor offices of 4,672 sq ft.
  • Entirely let to the prime covenant of The Royal Bank of Scotland PLC.
  • Pedestrianised high street, rear servicing with up to 13 on-site car spaces and self-contained modern offices.
  • Excellent potential to convert and extend the upper floors to create at least 10 residential apartments, subject to planning consent.
  • Current low income of £139,000 per annum exclusive on a new short lease until January 2020 (Tenant break from January 2019).

Price

Offers sought in excess of £2,400,000 (two million, four hundred thousand pounds) subject to contract. This will provide a net initial yield of 5.45% on the short term income.

Possession

Immediate upon completion of legal formalities.

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