• Wealthy South East commuter town

• Highly attractive, prime retail investment

• Let to the premium brand retailer “Brora”

• Rent rebased in November 2021 – 16% below previous rental level

• October 2021 break option moved to October 2024, demonstrating tenant’s commitment to the property

• The unit has been fitted out to a very high standard

• Grade II Listed (no empty rates payable)

• Freehold

• £1,260,000, subject to contract

• Net Initial Yield – 6.00%

The property is situated in the heart of the town centre on the south side of the pedestrianised High Street where the prime retail offer in Guildford is focused.

Surrounding occupiers include many well-known high street brands such as Sainsbury’s (adjacent) along with numerous high end luxury fashion retailers such as Barbour, Hugo Boss, White Stuff, Ted Baker, Lululemon, Molton Brown and Hobbs.

In addition, Guildford boasts three shopping centres known as The Friary, Tunsgate Quarter and White Lion Walk Shopping Centre. The entrance to Tunsgate Quarter is immediately to the west of the subject property. Comprising 7,432 sq m (80,000 sq ft) set over three levels, the retail line-up includes Loaf, OKA, The White Company, Design Vintage, Nespresso, Bobbi Brown, Clark’s and David Clulow. Restaurants include the world-famous The Ivy, award-winning GAIL’s Bakery and Cosy Club.

The property comprises a Grade II listed building providing a ground floor retail unit with ancillary accommodation on first and second floors. Internally, the retail floor area has been fitted out by the tenant to an exceptionally high standard – please see the photo gallery and video.

The property is Grade II listed (hence, no empty rates payable) and situated within a Conservation Area.

Freehold.

Historically rents in Guildford town centre have reached levels in the order of £300 Zone A.

Based on our analysis, the current rent of £80,000 per annum equates to a Zone A rate of £137 per sq ft.

We understand that 127 High Street was let to Lululemon in August 2020 for a term of 10 years at a rent of £170,000 per annum with a 15 month rent free period, equating to a net Zone A of £175.00.

In addition, we understand that 115 High Street was let to Preston Jewellers in October 2020 on a 10 year lease at a rent of £168,000 per annum with a 12 month rent free period, equating to £167 Zone A.

Brora Limited (Co. No. 04166713), has reported the following figures;

The accounts state that online sales significantly exceeded the company’s expectations, despite the challenges that Covid-19 posed, and that Group profitability improved as a result of reduced marketing activity and reducing store headcount amongst other factors.

Brora is a widely recognised premium brand retailer. Established in 1993, the company is one of Britain’s most successful modern cashmere brands and has steadily grown into a fully-fledged fashion label. The company is 100% privately owned and the business focus is ‘Buy British’, the key element being that all their cashmere is made in Scotland to the highest possible standards.

The Brora brand is enhanced by the quality of the location of its shops which includes, as well as Guildford, Bath, Cambridge, Chelsea (Sloane Square), Oxford, Harrogate, Marylebone, King’s Road and Edinburgh. In addition, the company has an international store on New York’s Madison Avenue. For further information please visit www.brora.co.uk.

We are instructed to seek a figure of £1,260,000 (One Million, Two Hundred and Sixty Thousand Pounds), subject to contract, reflecting a net initial yield of 6.00%, assuming standard purchaser’s costs of 5.97%.

Please note that a purchaser will be re-charged the costs of the measured survey (£345 + VAT) and searches (£1,009.56) which are provided in the data room.

Please note that a purchaser will be charged a Transaction Fee of £5,000 plus VAT.

1. An opportunity to acquire an attractive investment in a highly affluent South East commuter town;

2. The property is let to the premium brand retailer Brora Limited;

3. The rent has recently been re-based from £95,000 per annum to £80,000 per annum.

4. The October 2021 break option has recently been moved to October 2024, demonstrating the tenant’s commitment to the property;

5. The property occupies a prime retailing pitch in the heart of Guildford town centre;

6. The unit has been fitted out to a very high standard by the tenant;

7. Freehold;

8. A purchase at the asking price reflects an attractive net initial yield;

9. Attractive lot size to an investor.

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