SM7 167 High Street, Banstead, Surrey

The property comprises a three storey end terrace mixed commercial and residential property let and income producing under a single lease and arranged as a fully fitted restaurant premises at ground floor with a self-contained split level flat over first and second floors and with garaging to the very rear. The upper parts are self-contained from the rear via an external staircase.

The property is to be offered freehold, subject to an overriding lease on the whole building. The lease is held for a term of 25 years expiring on 16 December 2038 with the lease now held, by assignment, by two individuals. The current passing rent is £21,500 per annum exclusive and there is an outstanding rent review from 19 December 2018. The rent is considered to be reversionary.

The property is situated fronting Banstead High Street in a highly prominent position on the approach to Banstead Village set within an attractive parade. Banstead High Street is a popular commercial environment servicing a densely populated and fairly affluent residential catchment in the surrounding areas. Banstead High Street is a reasonably busy thoroughfare and bus route and the property benefits from a good deal of passing vehicular traffic and there is a fair amount of pedestrian flow generated by a variety of nearby commercial occupiers. There are short term parking bays immediately outside the subject property and its neighbouring parades and this encourages quick stop trade to the vicinity.