26 High Street, Reigate, Surrey, RH2 9AY

Freehold Retail and Residential Investment

For Sale by Public Online Auction on 11/06/2025 13:00

Location
The property occupies a prime position on the High Street in Reigate, which is a popular town in Surrey, approximately 10 miles north of Crawley, 26 miles east of Guilford and 30 miles south of Central London.

Reigate is within close proximity to the M25 Motorway (Junction 8) providing access to a number of major towns within Surrey with Gatwick airport being approximately 6 miles to the south.

Nearby occupiers include, Boots, FatFace, HSBC Bank, Pizza Express, Whistles, M&S Foodhall, Mint Velvet along with a number of local and multi-national retailers.

Description
A three storey retail and residential investment comprising a shop and two modern 3 bedroom flats with communal garden to the rear.

Ground Floor - Retail
The retail element is approximately 106.50 sq m (1,146 sq ft) of sales accommodation and is occupied by Phase Eight (Fashion & Designs) Limited on a 10 year lease expiring 2032 at a rent of £40,000 per annum.

First Floor - Flat 1
Comprises three bedrooms (one with ensuite bathroom with WC), living room, kitchen and house bathroom and is approximately 100.40 sq m (1,081 sq ft). This flat is occupied under the terms of an Assured Shorthold Tenancy Agreement for a term of 24 months from 02/12/2024 at a rent of £20,400 per annum.

Second Floor - Flat 2
Comprises three bedrooms (one with ensuite bathroom with WC), living room, kitchen and house bathroom and is approximately 113.50 sq m (1,222 sq ft). This flat is occupied under the terms of an Assured Shorthold Tenancy Agreement for a term of 36 months from 08/02/2024 at a rent of £20,400 per annum. The current rent is £21,093.60 per annum, in line with the annual increases.


Tenure
Freehold.

Tenancy
Phase Eight (Fashion and Design Ltd) is a fashion retailer and part of The Foschini Group, which includes brands Hobbs and Whistles. They have a Dun & Bradstreet rating of 5A2 to 25/03/2023, Phase Eight (Fashion and Design Ltd) reported sales of £96.283m and pre-tax profits of £3.418m. A D&B report is available to view.

Planning Authority
Reigate and Banstead Borough Council -

Ground Floor Retail: C55
First Floor Flat: C74
Second Floor Flat: C74

The property is elected for VAT

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